Economics

College of Business

 

Chair Roger Meiners

 

Web economics.uta.edu

Phone 817.272.3061

Fax 817.272.3145

 

309 Business Building

Degrees / Certificates

Master’s Degrees

Economics, M.A.

Graduate Faculty

Professor

William Crowder

Daniel Himarios

Roger Meiners

Michael Ward

Associate Professor

Chi Young Choi

Aaron Smallwood

Mahmut Yasar

Assistant Professor

Joshua Price

Christy Spivey

Visiting Assistant Professor

Shalah Mostashari

Clinical Professor

Jane Himarios

Associate Clinical Professor

Olga Isengildina

Timothy Wunder

Graduate Advisors

Chandra Subramaniam

Economics, M.A.

Economics, Non-Degree Seeking

Timothy Wunder

Economics, M.A.

Department Information

Courses

 

Department Information

Objective

Admission Requirements

Degree Requirements

 

Objective

The Master of Arts is an applied economics program. As a "terminal" degree program, it teaches marketable skills for employment in business or government. The program consists of a solid analytical core in economics and quantitative methods, supplemented with courses in special fields. Potential specialization areas currently emphasized are forecasting/quantitative techniques, international business economics and applied financial economics. The program is also recognized nationally for preparing students who want to pursue the Ph.D. degree in economics.

Economics is one of the areas a student may choose to study in the Doctor of Philosophy in Business Administration program. Additional information concerning the doctoral program is presented in the catalog under the heading Business Administration.

 

Admission Requirements

Admission to the M.A. program in economics is based upon the completion of the general admission requirements of the Graduate School. For admission to the M.A. program in economics, a score on either the Graduate Management Admission Test (GMAT) or the Graduate Record Examination (GRE) and record of one’s academic undergraduate performance are required. Students for whom English is not their native language must achieve a TOEFL score of at least 550 (213 on computer-based test). International applicants who score below minimum acceptable levels on the verbal portion of entrance examinations may be admitted under the condition that they pass an English proficiency exam or complete UT Arlington’s Graduate English Skills Program prior to beginning graduate coursework. Applicants are encouraged to submit with their application a resume that highlights professional and personal accomplishments, linguistic abilities, computer expertise and leadership experience. A standardized test score (GMAT or GRE) will not be used as the sole criterion for admitting applicants or the primary criterion for denying admission to the M.A. program in economics.

Multiple criteria are used to make admission decisions. Unconditional acceptance is based on consideration of all the information listed below and the decision to deny admission is not based on any single criterion alone.

  1. A bachelor’s degree from an accredited general or specific program.
  2. An acceptable undergraduate GPA as calculated by the Graduate School (approximately the last 60 hours), generally greater than a 3.0 on a 4.0 scale.
  3. An acceptable score on the Graduate Record Examination or GMAT. Successful students generally have a minimum score of 148 (600 old GRE scale) on the Quantitative section and 150 (450 old GRE scale) on the Verbal section of the GRE or a minimum score of 480 on the GMAT.
  4. Favorable letters of recommendation from at least three individuals able to assess the applicant’s potential success in graduate school.
  5. Grades in specified undergraduate business and non-business courses (e.g., math, accounting, economics, statistics).
  6. For applicants whose native language is not English, a minimum score of 550 on the Test of English as a Foreign Language (or an equivalent score on a computer-based test) or a score of 40 on the Test of Spoken English.

Unconditional Admission

For unconditional admission, the applicant’s composite total from the index (this index is derived by using a formula that multiplies the GPA by 200 and adds the resulting value to the GMAT score) must be 1080 or greater and items 1 through 5 above should strongly indicate potential for successful academic performance as a MA Economics student.

For unconditional admission, the applicant can score 148 (600 old GRE scale) or higher on the Quantitative section and 150 (450 old GRE scale) or higher on the Verbal section of the GRE and items 1 through 5 above should strongly indicate potential for successful academic performance as a MA Economics student.

The GRE/GMAT test requirement for admissions to the Economics MA program can, under extraordinary circumstances, be waived at the discretion of the department if the applicant already has been awarded a terminal graduate degree from a regionally or professionally accredited program.

Probationary Admission

If an applicant does not meet items 1 through 6 for unconditional admission, they may be considered for probationary admission after careful examination of their application materials. Probationary admission requires that the applicant receive a B or better in the first 12 hours of graduate coursework at UT Arlington.

Deferred and Provisional Admission

A deferred application decision may be granted when a file is incomplete or when a denied decision is not appropriate. An applicant unable to supply all required documentation prior to the admission deadline but whom otherwise appears to meet admission requirements may be granted provisional admission.

Denial of Admission

After a thorough review of the application file, a candidate may be denied admission if he or she has less than satisfactory performance on any two the admission criteria. All applicant data will be carefully reviewed before an admission denial is made.

Fellowships and Scholarships

Students admitted with no provisional conditions to satisfy are eligible for available scholarship and/or fellowship support. A limited number of merit-based scholarships and fellowships may be awarded to graduate students enrolled in a minimum of 6 hours of coursework in both long semesters.

 

Degree Requirements

M.A. Degree in Economics: Three Options

The Department of Economics provides three Master’s tracks: a Thesis Option for those intending to later pursue a Ph.D. in economic, and two Non-Thesis tracks, a traditional flexible option and an applied economics option. The Ph.D. Preparation Option designed primarily for students who intend to pursue a Ph.D. in economics. This program provides excellent preparation for entry into a Ph.D. program. The second option is the flexible non-thesis program enabling a degree candidate to greater flexibility in designing a program to fit one’s interest. A third track, also non-thesis, is the Applied Economic Analysis or "number crunching" option designed to prepare graduates to manage and analyze data sets. In this track there is less emphasis on theory and a greater focus on empirical tools.

M.A. Degree, Thesis: Ph.D. Preparation Option

The Ph.D. Preparation Option in the M.A. degree program is an excellent choice for students intending to obtain a Ph.D. in Economics later at another institution. A minimum of 24 semester hours of coursework, plus a minimum of 6 semester hours of thesis study, are required to obtain the M.A. in Economics, Thesis Option. The core course requirements are ECON 5301 or equivalent, 5310, 5312, 5336, 5339, 5337, 5338, and 5329. These courses would be followed by the thesis hours plus additional relevant courses the candidate wishes to pursue. Students develop a thesis topic in consultation with a faculty member who supervises the thesis with other committee members.

M.A. Degree, Non-Thesis: Traditional Option

The non-thesis M.A. degree in Economics gives a solid foundation in economic theory and the key elements of econometric analysis but is more flexible than the thesis option. It requires a minimum of 36 semester hours of coursework, including 18 hours required core courses: ECON 5301 or equivalent, 5310, 5312, 5336, 5339, and 5329. The remaining 18 hours include 6 semester hours in economics and 12 semester hours in supporting subjects with the approval of the Graduate Advisor. Successful completion of ECON 5329 satisfies the Graduate School requirement of a final master’s examination. This program may be appealing to dual degree candidates as discussed below.

M.A. Degree, Non-Thesis: Applied Economic Analysis Option

The Applied Economic Analysis option in the M.A. program, which is new for 2010, focuses on a major growth area-data analysis. Hal Varian, Chief Economist at Google, has explained why the demand for data analysis is growing rapidly. Organizations have low-cost computer time, huge quantities of data, and access to software tools that allow data analysis. The problem in using these assets is a shortage of qualified empirical analysts. One must know how to find data, be critical of it, develop it by use of software packages, and explain what has been learned by analysis. Advances in econometrics analysis allow us to better understand key issues, such as pricing and cost, inventory management, population trends, and other issues that impact business and government.

This non-thesis option M.A. in Economics requires 36 semester hours of coursework. The focus is on quantitative analysis with a requirement of 18 hours and will normally be taken in the following sequence so analytical tools can be fully developed: ECON 5336, 5339, 5337, 5338, 5329, and 5341. The last course satisfies the Graduate School requirement of a final master’s examination. It is a professional research project that allows the candidate to demonstrate the "number crunching" abilities developed in the program. The resulting work will provide evidence to employers of practical ability to manage and analyze data for a range of private and public organizations. Six semester hours of electives in economics are also required plus 12 semester hours in supporting relevant courses as approved by the Graduate Advisor. This program may be appealing to dual degree candidates as discussed below and candidates with a strong quantitative and computer-based skill orientation.

 

ECON Courses

ECON5182 – INDEPENDENT STUDIES IN ECONOMICS

1 Lecture Hour  ·  0 Lab Hours

Extensive analysis of an economic topic. Prerequisite: Departmental Permission Required.

 

ECON5199 – GRADUATE ECONOMICS INTERNSHIP

1 Lecture Hour  ·  0 Lab Hours

Practical training in economics. Analysis of theory applied to real life situations. Course counts as an elective and has a pass/fail grade. No credit will be given for previous experience or activities. Prerequisite: Minimum nine graduate semester hours completed.

 

ECON5282 – INDEPENDENT STUDIES IN ECONOMICS

2 Lecture Hours  ·  0 Lab Hours

Extensive analysis of an economic topic. Prerequisite: Departmental Permission Required.

 

ECON5299 – GRADUATE ECONOMICS INTERNSHIP

2 Lecture Hours  ·  0 Lab Hours

Practical training in economics. Analysis of theory applied to real life situations. Course counts as an elective and has a pass/fail grade. No credit will be given for previous experience or activities. Prerequisite: Minimum nine graduate semester hours completed.

 

ECON5301 – MATHEMATICS FOR ECONOMISTS

3 Lecture Hours  ·  0 Lab Hours

Course is designed to upgrade mathematical skills for graduate work in economics and business. The emphasis is on calculus and linear algebra and their applications in economic analysis. Mathematical tools covered include optimization, comparative-statics analysis, and simple dynamic analysis. Prerequisite: MATH 1316 or other calculus course.

 

ECON5306 – ENVIRONMENTAL ECONOMICS

3 Lecture Hours  ·  0 Lab Hours

An examination of the development of laws and policies that concern the environment followed by an application of economic analysis for environmental issues such as water use, air pollution, land controls, public lands, and global environmentalism. Other topics include: property rights, theories of regulation, and enviropreneurship. Participants will produce and present a case study on an environmental economic subject of interest. Prerequisite: ECON 5311 or equivalent.

 

ECON5310 – MICROECONOMIC THEORY

3 Lecture Hours  ·  0 Lab Hours

Development of marginal analysis and game theory tools in economics; Focus on the analysis of consumer choice and decision making by firms; Development of competitive model and various deviations from competition including the exercise of market power, externalities, and information asymmetries. Prerequisite: ECON 3310.

 

ECON5311 – ECONOMIC ANALYSIS

3 Lecture Hours  ·  0 Lab Hours

Provides an overview of microeconomic foundations of economic analysis with a focus on business applications. Topics include supply and demand, marginal analysis, pricing issues and theory of the firm. An overview of macroeconomics is also provided, covering monetary and fiscal policy, inflation, growth and international trade. Non-credit for MA in Economics.

 

ECON5312 – MACROECONOMIC THEORY

3 Lecture Hours  ·  0 Lab Hours

Study of the aggregate approach to the economy and the tools of analysis used for the solving of national economic problems. Prerequisite: ECON 3312

 

ECON5313 – MANAGERIAL ECONOMICS

3 Lecture Hours  ·  0 Lab Hours

Application of economic analysis in formulating business decisions based on the theoretical foundations of demand, cost, production, profits, and competition. Macroeconomic topics of particular relevance to managers are included. Prerequisite: ECON 5311 or equivalent.

 

ECON5314 – ECONOMICS OF ORGANIZATION AND BUSINESS STRATEGY

3 Lecture Hours  ·  0 Lab Hours

Microeconomic and game theoretic treatment of firm strategy. Describes and analyzes firm level methods to reduce costs, organize production, manage tasks, acquire suppliers or distributors, set prices, and determine product quality. Course covers the use of horizontal (oligopoly) and vertical (supply chain) restrictions from both firm and social points of view. Prerequisite: ECON 5311 or equivalent.

 

ECON5315 – ECONOMICS OF TECHNOLOGY AND INNOVATION

3 Lecture Hours  ·  0 Lab Hours

Microeconomic examination of technology and innovation. Analyzes the effects of technology on industrial market structure, firms' strategies and public policy. Topics include determinants and effects of innovation, industry evolution, managing firm boundaries, intellectual property, and managing technological processes. A substantial amount of time will focus on dynamic industries including telecommunications, e-commerce, software, entertainment, pharmaceuticals, and biotechnology. Prerequisite: ECON 5311 or equivalent.

 

ECON5318 – ECONOMICS OF SPORTS

3 Lecture Hours  ·  0 Lab Hours

Studies the economic structure of sports, with a focus on business issues. Topics include advertising, fan demand, team output decisions, labor relations, league and conference organization, and government regulation. The course is designed for both general business and economics majors. Prerequisite: ECON 5311 or equivalent.

 

ECON5319 – THE GLOBAL ECONOMY

3 Lecture Hours  ·  0 Lab Hours

This course is a study in the growing global economic integration. Tools are developed to undertake a critical examination of globalization from both the international trade and international finance perspectives. Topics include free trade versus fair trade, government policy harmonization, exchange rate policy, common currency areas, and spillover effects from economic shocks. Particular emphasis is placed on governmentAs role in functioning of the international economic system. Prerequisite: ECON 5311

 

ECON5321 – INTERNATIONAL TRADE AND THE GLOBAL MARKETPLACE

3 Lecture Hours  ·  0 Lab Hours

The course provides an understanding of international trade (movement of goods and services) and investment (cross-border movement of assets) theories. It is designed to understand better the implications of such theories as they relate to international business management. It helps managers deal with the opportunities and challenges created by the global environment. The course uses relevant materials in the form of lectures, case studies, and analysis of a range of international issues confronting international trade and investment. Prerequisite: ECON 5311 or equivalent.

 

ECON5327 – INTERNATIONAL FINANCE AND OPEN ECONOMY MACROECONOMICS

3 Lecture Hours  ·  0 Lab Hours

Study of international money and capital markets. Determination of output, balance-of-payments and exchange rates under different monetary and exchange rate regimes. Exchange rate intervention by central banks and exchange rate systems in developing countries are also discussed. Prerequisite: ECON 5311

 

ECON5329 – RESEARCH METHODS IN APPLIED ECONOMICS

3 Lecture Hours  ·  0 Lab Hours

Each student presents a replication of a published article that uses methods from Econometrics I/II, Forecasting and/or Time Series. The instructor will present replications of several published papers and assist students in choosing studies that they will attempt to replicate. Class meetings will focus on answering specific questions that arise as students carry out their replication exercises. The course concludes with student presentations, along with submission of a written report summarizing the replication effort and detailing the extent to which published results were replicable. The goal is to develop the skills to write quality papers using a variety of statistical techniques. Prerequisite: ECON 5336 or BSAD 6317.

 

ECON5330 – HUMAN RESOURCE ECONOMICS

3 Lecture Hours  ·  0 Lab Hours

This course studies labor supply decisions made by households, labor demand decisions made by firms, and the equilibrium wage differences that result from these decisions. Other topics include unemployment, human capital investments, efficiency wages and other incentive schemes, inequality, labor mobility and migration, and discrimination. Prerequisites: ECON 5311 or equivalent.

 

ECON5331 – URBAN ECONOMICS

3 Lecture Hours  ·  0 Lab Hours

This course examines the market forces that cause people and firms to cluster in urban places and the externalities resulting from this process. The tools of microeconomics are used to analyze urban issues such as poverty, crime, housing, and transportation. Attention is also given to the spatial aspects of local government policy. Prerequisites: ECON 5311 or equivalent.

 

ECON5332 – GOVERNMENT, TAXES AND BUSINESS STRATEGY

3 Lecture Hours  ·  0 Lab Hours

The interaction between government and business is broad. Effective business leadership requires the ability to analyze and respond to public policy. Economics provides a framework for understanding the incentives of consumers, businesses, bureaucrats and civil servants in different policy environments and predicting their behavior in response to policy changes. This course focuses primarily on tax policy at the federal, state and local levels, including issues in corporate taxation, personal income tax, treatment of capital gains and loses, tax incidence, work-leisure choices, fiscal competition among state and local governments, capital flight and fiscal federalism. Prerequisite: ECON 5311

 

ECON5333 – ECONOMICS OF HEALTH

3 Lecture Hours  ·  0 Lab Hours

An economic perspective on a variety of timely health policy issues, including: health expenditures, public and private insurance, incentives, provider education and labor markets, hospitals, prescription drugs, malpractice, externalities, long-term care, the Internet, and various proposals for reform. Prerequisite: ECON 5311 or equivalent.

 

ECON5336 – ECONOMETRICS

3 Lecture Hours  ·  0 Lab Hours

Develops an understanding of statistical and econometric techniques so participants can evaluate claims made by others, come to their own conclusions, and make better judgments about future events. Students learn to use statistical packages such as Excel and Stata to apply these techniques to real data for the formulation of solutions to practical managerial decision making. Topics include descriptive statistics, statistical inference, simple and multiple regression analysis, heteroskedasticity, endogenity, serial correlation, specification and data issues, functional forms, and basic limited dependent variable models. Prerequisites: BSTAT 5301 or BSTAT 5325.

 

ECON5337 – BUSINESS & ECONOMIC FORECASTING

3 Lecture Hours  ·  0 Lab Hours

Course uses statistical techniques to develop forecasts for economic and financial data. It begins with a description of what a forecast is and the tools necessary to evaluate competing forecasts. Forecasting models are introduced, with emphasis placed on modeling the statistical properties of the economic data under consideration. As the models become more elaborate, we introduce ARMA models, forecasts based on regression analysis, and multivariate techniques. Students will understand statistical techniques related to modeling economic and financial data over time. One will be able to develop a model to forecast economic or financial data and be able to compare the relative forecasting ability of various models and choose the most appropriate model among alternatives. Students gain familiarity with the programs such as EViews and learn to use such software to develop and analyze forecasts. Prerequisite: ECON 5336 or BSAD 6317.

 

ECON5338 – APPLIED TIME SERIES

3 Lecture Hours  ·  0 Lab Hours

Provides an introduction to univariate and multivariate methods in time series econometrics. A foundation will be given to univariate analysis of stationary and non-stationary time series. Box-Jenkins and forecast methods are discussed. Asymptotic theory and limit theorems for dependent and independent processes will be clarified. The asymptotics of non-stationary processes is presented to demonstrate the distribution theory for time series processes with unit roots. Modeling conditional volatility using GARCH (generalized autoregessive conditional heteroskedasticity) specifications are covered. Tools and concepts for multivariate models are presented including the vector autoregressive model for stationary and non-stationary data, cointegration, impulse response functions, and structural VAR (vector autoregression) modeling. Other topics covered include panel unit root and cointegration testing procedures, HAC (heteroskedasticity-autocorrelation consistent covarianceestimators), and nonlinear time series models. Prerequisite: ECON 5336 or BSAD 6317.

 

ECON5339 – ECONOMETRICS II

3 Lecture Hours  ·  0 Lab Hours

This covers cross section, panel data, and limited dependent variables methods. Focus on advanced econometric techniques needed for empirical research by study of underlying theory and the application of techniques on real data sets. Students learn to understand problems that arise from different data. They should obtain the skills to assess the work in the literature, and to improve and apply the techniques to their own research or data analysis. Topics include bootstrapping, panel data methods, instrumental variable estimation, simultaneous equation models, limited dependent variable models and sample selection corrections, propensity score matching methods, quantile regression, and dynamic panel data models. Material covered has many practical applications in various fields. Prerequisites: ECON 5336 or BSAD 6317.

 

ECON5341 – PROFESSIONAL APPLIED ECONOMIC ANALYSIS

3 Lecture Hours  ·  0 Lab Hours

A capstone course that completes the analytical tool-kit series that provide the skills needed to originate professional analytical work in business and economics from the point of developing hypotheses, to developing a statistical model, to doing empirical analysis, to writing and presenting the final product. Students will help critique each other's work as it is presented during class meetings where the instructor will also present guidance. The grade is based upon the quality of the paper produced. Prerequisite: ECON 5339.

 

ECON5382 – INDEPENDENT STUDIES IN ECONOMICS

3 Lecture Hours  ·  0 Lab Hours

Extensive analysis of an economic topic. Prerequisite: Departmental Permission Required.

 

ECON5391 – SPECIAL TOPICS IN ECONOMICS

3 Lecture Hours  ·  0 Lab Hours

In-depth study of selected topics in economics. May be repeated when topics vary. Prerequisite: Departmental Permission Required.

 

ECON5398 – THESIS

3 Lecture Hours  ·  0 Lab Hours

Graded R/F only. Prerequisite: Permission of Graduate Advisor in Economics.

 

ECON5399 – GRADUATE ECONOMICS INTERNSHIP

3 Lecture Hours  ·  0 Lab Hours

Practical training in economics. Analysis of theory applied to real life situations. Course counts as an elective and has a pass/fail grade. No credit will be given for previous experience or activities. Prerequisite: Minimum nine graduate semester hours completed.

 

ECON5698 – THESIS

6 Lecture Hours  ·  0 Lab Hours

Graded P/F/R. Prerequisite: Permission of Graduate Advisor in Economics.

 

ECON5998 – THESIS

9 Lecture Hours  ·  0 Lab Hours

Graded P/F/R. Prerequisite: Permission of Graduate Advisor in Economics.

 

ECON6310 – ADVANCED MICROECONOMIC THEORY

3 Lecture Hours  ·  0 Lab Hours

Investigates the advanced neoclassical theory of microeconomics. The course develops formal models of consumer behavior, market structure, general equilibrium and welfare. The objective of the course is to acquaint students with the analytical tools necessary to evaluate the formal literature in economics and to conduct scientific, hypothesis- driven statistical studies. Prerequisites: ECON 5301 and ECON 5310.

 

ECON6312 – ADVANCED MACROECONOMIC THEORY

3 Lecture Hours  ·  0 Lab Hours

Topics include dynamic general equilibrium analysis of model economies, monetary theory in overlapping generations models, advanced growth theory and new open-economy macroeconomics. Prerequisites: ECON 5301 and ECON 5312.