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EconomicsWeb: gmu.edu/departments/economics FacultyDistinguished professor emeritus: Buchanan Professors: Bennett, Boudreaux (chair), Congleton, Cowen, Crain, Heiner, Iannaccone, Levy, McCabe, Rowley, Smith, Snavely (emeritus), Stratmann, Tullock, Vaughn, Wagner, Williams Associate professors: Boettke, Houser, Meyer, Ramirez, Reid, Tabarrok, Thorbecke, Wiest, Wilson Assistant professors: Caplan, Hanson, Mene Instructor: Rustici Course WorkThe Economics Department offers all course work designated ECON in the Course Description chapter of the catalog. Undergraduate ProgramsEconomics, 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 education requirements and the requirements for a B.A. degree in the College of Arts and Sciences, candidates must complete the following:
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 general education 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 general education synthesis 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 education requirements and the requirements for a B.S. degree in the CAS, candidates for the B.S. in Economics must complete the following:
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 general education global understanding requirement. Check with the departmental advising office for more information. See the departmental advising office to learn how economics majors fulfill the university-wide general education synthesis requirement. Writing-Intensive RequirementThe 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, 350, 360, or 365. Minor in EconomicsA 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 3 credits of economics electives. A course in statistics is highly recommended: DESC 210, STAT 250, or STAT 344 may substitute for up to 3 credits of economics electives. Minor in Economic Systems DesignThe allocation and exchange of resources are central aspects of human activity. The design of processes that efficiently allocate resources and foster exchange are crucial in society, organizations, personal interactions, and individual decision making. Economic Systems Design is the scientific study of the design, development, testing and understanding of economic institutions. Economic Systems Design explores problems in the design of allocation systems and provides a method to both develop and test the properties of such systems. A minor in Economic Systems Design will prepare students to undertake the scientific process of understanding and developing systems of exchange and their incentives. This minor is both unique and extremely marketable. The skills offered through this minor can be of use to ecommerce designers, policy analysts, systems designers, engineers, and computer scientists. Requirements The interdisciplinary minor in Economic Systems Design consists of three required courses (9 credits) and two elective courses (6 credits) distributed as follows: Required Courses:
Elective Courses Six credits of electives, chosen in consultation with an advisor in the Economic Systems Design minor. Some typical courses are MIS 491, MATH 441, SYST 420 and 470, CS 480 and 483, and ECON 335 and 415. Teacher LicensureStudents 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 ProgramsEconomics, 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
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 and for the spring semester, November 1. Degree Requirements
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. Certificate in Economic Systems DesignThe Economics Department offers the certificate in Economic Systems Design, which provides graduate students with a program of courses and laboratory experience. Course work for the graduate certificate can be used for credit toward the M.S. and Ph.D. in Economics. The primary purpose is to provide a well-defined target for students who want to advance or update their knowledge in this fast- moving field. Graduate students in economics, computer science, mathematics, systems engineering, and informatics will find this certificate a strong complement to their major area of study. The courses and project work will provide skills that can be used in electronic commerce, public policy and internal firm resource allocation processes. Admission RequirementsThe certificate program in Economics Systems Design is open to all students who hold a bachelor's degree from an accredited university. Interested people not already in a George Mason degree program should apply for admission to nondegree status. Certificate RequirementsThe certificate consists of three graduate courses (9 credits) in Economic Systems Design and two elective course (6 credits) chosen in consultation with an advisor in Economics. A cumulative GPA of 3.000 is required, and no more than one course with a grade of C may be applied toward the certificate. 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
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 the fall semester is April 1. The department accepts doctoral students only for the fall semester. Degree RequirementsStudents are required to pass 72 credits of course work, of which no more than 24 may be dissertation credits. Once enrolled in 998, a student must maintain continuous registration in 998 or 999 each semester until the dissertation is submitted to and accepted by the university library. 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 their credit requirement reduced by up to 30 credits at the discretion of the department. Credit is not given for comprehensive and field examinations from other universities. 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), and econometrics (ECON 637). Also required are two courses (beyond the other required courses) in each of 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:
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