2001-2002 University Catalog -- George Mason University 2000-2001 Catalog

Catalog Index
Course Descriptions
Search the 2001-2002 Catalog:

Economics



Faculty

Distinguished professor emeritus: Buchanan

Professors: Bennett, Congleton, Cowen, Crain, Heiner, Rowley, Snavely (emeritus), Stratmann, Tullock, Vaughn, Wagner, Williams (chair)

Associate professors: Boettke, Levy, Meyer, Reid, Thorbecke, Wiest

Assistant professors: Caplan, Hanson, Menes, Ramirez, Sellgren

Instructor: Rustici

Course Work

The Economics Department offers all course work designated ECON in the Course Descriptions chapter of the catalog.

Undergraduate Programs

Economics, B.A.

This program is designed primarily for those students with a stronger interest in the liberal arts. It is appropriate for students who prefer a less quantitative degree program and may be especially appropriate for students planning to attend law school or graduate programs in business or public administration.

In addition to satisfying the university-wide general requirements and the requirements for a B.A. degree in the College of Arts and Sciences, candidates must complete the following:

  1. Thirty-six credits of economics courses, including ECON 103, 104, 306, 311 and 24 credits of economics electives at the 300 and 400 level (ECON 103 and 104 fulfill 6 credits of university and CAS general education requirements in social science.)

  2. DESC 210 and MIS 102, or STAT 250 and 350

  3. MATH 108 (fulfills the university quantitative reasoning requirement)

Economics, B.S.

The B.S. degree program is designed for those students who desire a more technical program with a stronger emphasis on economic and quantitative analysis. This program is especially appropriate for students who anticipate a career as an economic analyst in government, consulting, trade associations, or other private-sector positions that emphasize economic research and analysis. The requirements are also appropriate for students planning postgraduate education in economics or in more quantitative business administration programs.

In addition to satisfying the university-wide general requirements and the requirements for a B.S. degree in the CAS, candidates for the B.S. in Economics must complete the following:

  1. Thirty-nine credits of economics courses, including ECON 103, 104, 306, 311, 345 and 24 credits of economics electives at the 300 and 400 level. (ECON 103 and 104 fulfill 6 credits of the university and CAS general education requirements in social science.)

  2. STAT 362 or ACCT 201

  3. DESC 210 and MIS 102, or STAT 250 and 350

  4. MATH 113 and 114 (fulfills the university quantitative reasoning requirement)

  5. IT 103 or MIS 201 (IT 103 fulfills the university information technology proficiency requirement)

  6. Eight credits of a laboratory science sequence (fulfills the university natural science requirement)

If ECON 340 (Mathematical Economics) is chosen as one of the economics electives, students need not take MATH 114. However, MATH 114 is strongly recommended for students considering graduate school in economics because it is required for admission to most graduate programs. An additional calculus course beyond MATH 114 is also advisable for students considering graduate study in economics.

No more than six credits with a grade of D in economics courses may be applied to the required economics courses. No more than 12 credits with a grade of D (combined economics and other courses) may be applied to the B.S. degree.

Note that some economics courses may fulfill the university-wide global understanding requirement and the CAS non-Western culture requirement. Check with the departmental advising office for more information. See the departmental advising office to learn how economics majors fulfill the university-wide requirements in information technology and synthesis.

Writing-Intensive Requirement

The university requires all students to complete at least one course designated as writing intensive in their majors at the 300 level or above. Students majoring in economics fulfill this requirement by successfully completing ECON 320, 345, 360, or 365.

Minor in Economics

A minor in economics consists of 21 credits in economics: ECON 103, 104, 306, and 12 credits of economics electives at the 300 or 400 level. A minimum of nine hours of upper-level economics course work must be taken at George Mason University. With the permission of the department chair or undergraduate coordinator, a course in a closely related field may be substituted for three credits of economics electives. A course in statistics is highly recommended: DESC 210, STAT 250, or STAT 344 may substitute for up to three credits of economics electives.

Teacher Licensure

Students who wish to become teachers should consult the Professional Licensure section in the Graduate School of Education chapter and attend an information session during their sophomore year. Information sessions for teacher licensure are offered every month. Call (703) 993-2892/4648, email gseinfo@gmu.edu, or consult the web site at gse.gmu.edu for more information.

Graduate Programs

Economics, M.A.

The M.A. in Economics strengthens students' knowledge of economic theory and improves their skills in applying the theory to economic problems. Graduates of the program are qualified to read and judge other research and to conduct their own, either individually or as members of research teams in government or business. They are also prepared to write policy analysis articles. Students who plan to pursue a Ph.D. in Economics should apply directly to the doctoral program.

ADMISSION REQUIREMENTS

  1. Undergraduate degree, which does not have to be in economics, from an accredited institution

  2. Satisfactory completion of intermediate microeconomics and macroeconomics

  3. MATH 108 or equivalent. All students must complete at least one semester of calculus before enrolling in any graduate courses. Students entering the master's program should be familiar with basic statistics as well.

  4. GPA of 3.000 in the last two years of undergraduate work and in all economics courses

  5. Satisfactory scores on the GRE; subject exam is optional

All applicants must submit two letters of recommendation and a brief personal statement explaining their interest in the program. The application deadline for the fall semester is May 1. The Department of Economics does not admit students for the spring semester.

No more than six credits with a grade of D in economics courses may be applied to the required economics courses. No more than 12 credits with a grade of D (combined economics and other courses) may be applied to the B.A. degree.

Note that some economics courses may fulfill the university-wide global understanding requirement and the CAS non-Western culture requirement. Check with the departmental advising office for more information. See the departmental advising office to learn how economics majors fulfill the university-wide requirements in information technology and synthesis.

DEGREE REQUIREMENTS

  1. Thirty graduate credits in economics distributed as follows:

    Three required courses (9 credits): ECON 611, 615, 812

    Seven elective courses (21 credits) in economics; ECON 630 (Mathematical Economics and ECON 535 Survey of Applied Economics are strongly recommended.)

    The 21 credits of electives may be chosen from any of the fields offered by the department. Students may receive departmental permission to substitute up to six credits of electives taken outside economics in closely related fields. Students may also elect the thesis option, which offers six credits for independent research and writing under the supervision of a faculty member in lieu of six credits of electives.

  2. Passing grades on comprehensive examinations in micro- and macroeconomics (Examinations are offered twice each year.)

Although the university does not guarantee the availability of courses every semester, a typical first-year sequence includes ECON 611, 630, and an elective in the fall; ECON 615, 812, and an elective in the spring. If possible, part-time students should arrange their work schedules to take two courses per semester in the first year. Master's degree students must enroll at the Arlington Campus for their core theory courses.

Economics, Ph.D.

The Ph.D. in Economics prepares students for careers in academia, business, and government. The core courses of the program train students in modern theory and quantitative techniques. The field courses stress the application of theory to relevant economic problems. Dissertation work requires students to master and apply the skills of original research. The department emphasizes publishing, and many students have had articles accepted for publication in professional journals while in the graduate program. Research in the Department of Economics covers a broad spectrum, from problems of immediate policy importance to fundamental questions of economic and social organization.

ADMISSION REQUIREMENTS

  1. Undergraduate degree, which does not have to be in economics, from an accredited institution

  2. Satisfactory completion of intermediate microeconomics and macroeconomics

  3. One year of calculus and one year of statistics; one semester each of matrix algebra and econometrics

  4. GPA of 3.000 in the last two years of undergraduate work and in all economics courses

  5. Satisfactory scores on the GRE; subject exam is optional

Applicants must submit two letters of recommendation and a brief personal statement explaining their interest in the program. The application deadline for students desiring financial aid is February 1. The deadline for all other students for fall semester is April 1.

DEGREE REQUIREMENTS

Students are required to pass 72 credits of course work, of which no more than 24 may be dissertation credits. Students must pass comprehensive examinations in microeconomics and macroeconomics. In addition, students must pass field examinations in two of the fields listed below. Examinations are normally given in August and January. Students who enter with a master's degree in economics may have up to 30 credits of doctoral course work reduced at the discretion of the department. Credit is not given for comprehensive and field examinations from other universities. Students may receive departmental permission to substitute up to six credits of electives taken outside economics in closely related fields.

All doctoral students must take a year of microeconomic theory (ECON 611 and 812), a year of macroeconomic theory (ECON 715 and 816), mathematical economics (ECON 630), econometrics (ECON 637), and history of economic thought (ECON 820 or 821). Also required are two courses (beyond the other required courses) in the student's two chosen fields in preparation for field examinations.

A typical first-year program of study for a full-time doctoral student includes ECON 611, 630, and 715 in the fall; ECON 637, 812, and 816 in the spring; and micro and macro comprehensive examinations in August. A typical second-year program includes Field 1 and Field 2 in the fall; Field 1 (continued) and Field 2 (continued) in the spring; and field examinations in August.

If possible, part-time students should arrange their work schedules to take two courses per semester in the first year.

Doctoral students may not enroll at the Arlington Campus for their required theory and mathematics courses.

Subject to course availability, the department offers examinations in the following fields of study:

  • Austrian Economics
  • Constitutional/Institutional Economics
  • Industrial Organization
  • International Trade and Finance
  • Law and Economics
  • Monetary Theory
  • Public Choice
  • Public Finance


George Mason University: 2001-2002 University Catalog: Catalog Index: Economics