Students must have completed a course in Principles of Microeconomics and Macroeconomics as well as differential calculus prior to admission to the MS-EPA program.
Students in the MS-EPA program complete 13 courses (52 credit hours). The degree consists of 11 required core courses plus two elective courses. Students may apply for a two-course equivalent Congressional Research Fellowship, or in lieu of the fellowship students may take two elective courses. New students will be admitted each fall.
Students may enroll in the program on a full-time or part-time basis. Classes for the full-time program are generally offered during the daytime. The typical full-time student will finish the program in five quarters. Students will be advised to take no more than three courses per term. Students attending the program part-time will typically take two evening courses per quarter and finish the program in six quarters.
Elective Courses (8 credits required)
Congressional Research Fellowship
Students in the M.S.-E.P.A. program will have the opportunity to participate in a Congressional Research Fellowship during which students will work full-time on Capitol Hill in Washington D.C. for 12-16 weeks. Students will be immersed in policy making, analysis, and research. Students will also have a unique opportunity to develop an extensive network with current and former staffers on Capitol Hill.
The Congressional Research Fellowship is a two-course package in which both courses are taken simultaneously. Students may not take any other courses during the quarter they take the Congressional Research Fellowship courses. Students will be responsible for all expenses incurred during their fellowship.
In order to be eligible for the fellowship, students must have earned a course grade of B or better in ECO 505, ECO 506, WRD 586, and ECO 507 (Research Methods I). In addition to the academic requirements, students must also have departmental approval. Students must participate in a seminar on present issues being addressed on Capitol Hill and appropriate protocol to be followed when in Washington before beginning their fellowship.
- Satisfactory completion of the college residency requirement.
- Satisfactory completion of the thirteen required courses.
- All courses for credit toward the degree must be completed within six calendar years after the candidate’s first term of enrollment in the Kellstadt Graduate School of Business. After a lapse of six years a course is expired. An expired course is not acceptable for the purpose of satisfaction of degree requirements and is not applicable to the degree without the written approval of the director of the program or the Kellstadt Graduate School of Business.
WRITING FOR PUBLIC POLICY
Specifically for those admitted to the M.S. in Economics and Public Policy Analysis and M.B.A. in Economic Policy Analysis, this course provides instruction in writing and presentation skills that allow students to communicate research findings to economists, non-economists, business executives, interest groups, and public officials.
Status as an MS in Economics and Public Policy Analysis or MBA in Economic Policy Analysis student is a prerequisite for this class.
An advanced course in microeconomic theory. This course will present a systematic and rigorous analysis of price determination and the allocation of specific resources to particular uses.
ECO 555 or admission to the MS-EPA program is a prerequisite for this class.
An advanced course in macroeconomic theory that examines the determination of income, employment, and prices, and their interrelations. Covers traditional Keynesian as well as alternative models of output, consumption, investment, money demand, inflation and unemployment. The dynamic character of income determination is emphasized, along with effects of government policy, economic institutions, and social goals.
ECO 509 or admission to the MS-EPA program is a prerequisite for this class.
MICROECONOMICS OF MARKET ORGANIZATION
Imperfectly competitive markets are more common than perfectly competitive markets. This course is about the effects of imperfectly competitive market structure on the organization, pricing, product choice, and entry of firms. We will study the acquisition and use of market power, strategic competition across firms, private sector sources of market failure, and the role of governent competition policy. Factor markets will also be discussed.
ECO 505 or ECO 555 is a prerequisite for this class.
ECONOMICS OF THE PUBLIC SECTOR I
Application of microeconomic analysis to the role of government in society. The theoretical foundation for the design of an efficient and equitable tax and expenditure program is presented and the impact of such a program on the economy is explored through general equilibrium analysis. Students must have a solid foundation in basic calculus.
ECO 555 or 505
INTERNATIONAL TRADE THEORY & POLICY (CROSS-LISTED WITH IB 520)
Modern theories of international trade: classical theory of comparative advantage, factor proportions theory, factor price equalization, application of welfare economics to international trade, including regional economic integration, commercial policy and tariff problems. Cross-listed with IB 520.
ECO 555 or 505
ECONOMICS OF THE PUBLIC SECTOR II
This course covers public finance and is the second course in a two course sequence on public Economics. Its focus is on the role of government in public expenditure and taxation. It is assumed that previous course work in economics has been satisfactorily completed, and the student has a basic understanding of basic microeconomic theory.
RESEARCH METHODS FOR POLICY ANALYSIS I
This course focuses on the tools and techniques used to statistically analyze economic data. We will focus on both theoretical understanding (why do we use such tools and how do they work) and applied understanding (the ability to carry on a research project using these tools). Students will learn Stata, which is the most widely used statistical analysis programming language in Economics. Students will learn the practical skills of how to choose the right tools for the analysis, how to prepare and inspect the data, and how to run an analysis that is robust, can be replicated, and can be understood and used by others - all extremely valuable qualities in real life work.
RESEARCH METHODS FOR POLICY ANALYSIS II
This course focuses on advanced techniques used to statistically analyze economic data. We will focus on both theoretical understanding (why do we use such tools and how do they work) and applied understanding (the ability to carry on a research project using these tools). Topics to be covered include the analysis of time series and panel data, discrete choice models, simultaneous equations, forecasting and experimental methods. Students will learn statistical Stata commands that apply to the advanced topics covered.
POLICY & REGULATION IN FINANCIAL MARKETS
This course focuses on the economic rationale and consequences of U.S. financial regulation. We will emphasize the implications of regulation for future public policy. We will approach this topic by giving a rationale for financial regulation and then go into regulation associated with particular financial institutions. We concentrate on commercial banks and invetment banks, although we will touch on insurance and life assurance companies, stock markets, bond markets and hedge funds. Because of systemic risk (the main focus of financial regulation) associated with commercial banking, we spend most of the course dealing with banking regulation.
BUSINESS REGULATION AND ANTITRUST
This course examines the rationale for and efficiency of government regulation of business in the United States. Various forms of government regulation are evaluated to determine their effectiveness in promoting market efficiency. We will emphasize the importance of market structure and industrial performance, including the strategic interaction of firms. We will examine the behavior of individual markets in some detail, focusing on cost analysis, the determinants of market demand, investment behavior, market power, and the implications of government regulatory behavior.
ECO 555 or 505
Content and format of this course are variable. An in-depth study of current issues in economics. Subject matter will be indicated in class schedule.
APPLIED TIME SERIES FORECASTING (CROSS-LISTED AS MATH 512/MATH 358)
Theory and computer implementation of the Box-Jenkins Techniques with emphasis on forecasting business and industrial activity. Crosslisted as MAT 512.
ECO 509 and ECO 510 are a prerequisite for this class.
This course is concerned with how the market system directs production decisions under varying deviations from the competitive environment. The links between market structure, conduct and performance are examined. Topics include determinants of market structure, various theories of imperfect competition, price discrimination, predatory pricing, and antitrust policy.
ECO 555 or 505
LABOR ECONOMICS AND LABOR RELATIONS (CROSS-LISTED AS MGT 518)
A study of the American labor force: measurement, characteristics and behavior under changing income, employment and technology. An examination of recent labor market developments provides the basis for a critical analysis and appraisal of contemporary wage theory. Topics include changes in the labor force, unemployment, wage determination, the minimum wage, internal labor markets, productivity, discrimination, unions and collective bargaining. Cross-listed as MGT 518.
ECO 555 or 505
REGIONAL AND URBAN ECONOMICS
The course investigates the spatial character of an economic system. The first part of the course is concerned with theories in regional economics, including business and household location theory, urbanization, and regional development. The latter part of the course deals with urban economics, a specialized area concerned with the economic forces behind many urban problems. Topics include the economics of housing, transportation, poverty, crime and urban public finance.
ECO 555 or 505
INTERNATIONAL MACROECONOMICS (CROSS-LISTED AS IB 521)
Analyzes traditional macroeconomic issues in a framework that allows for international trade and capital flows. Cross-listed as IB 521.
ECO 506 or ECO 509 is a prerequisite for this class.
The fundamental problems in the application of statistical procedures to econometric estimation will be studied: multicollinearity, identification, serial correlation, and nonhomogeneity of error variance. In addition, more sophisticated estimation techniques will be studies, e.g., reduced-form and multiple-stage regression techniques.
ECO 510 or (ECO 507 and ECO 508) are a prerequisite for this class.
This class deals with firms' business plans and policies and how they change in response to various incentives and stimuli. We will discuss frameworks used to analyze and formulate business strategies. We will introduce tools and techniques for diagnosing a firm's competitive position, identifying managerial and organizational issues, evaluating plans of action, and anticipating the consequences of alternative decisions.
ECO 555 or 505