The Department of Economics offers two graduate programs: The Master of Science in International Economics (MSIE) and the Master of Science in Economics (MSE). The MSIE also offers a joint program with the Law School (JD/MSIE).
The Master of Science in Economics (MSE) offers increased flexibility and an expanded array of options to master’s students. The MSE is a more broad-based program than our MSIE program and allows students to have more choices in course selections based on their preferences and career plans. Students completing this program may pursue a career as a generalist in both private and public sectors.
The degree requires completion of four required courses and six elective courses (30 credits). All courses carry three credit hours unless otherwise indicated. Faculty will advise students as to which courses they should complete each semester. The program must be completed in no more than five years.
3.00
Study of macroeconomic models and the application of these analytical models to examine current and past world economic problems. Topics include fundamental macroeconomic models which explain the determination of equilibrium output, the price level, exchange rates and balance of payments adjustment. Topics also include effects of money creation, government spending and taxation in an open economy as well as a closed economy, and international economic interdependence. Normally offered every year
3.00
The application of mathematical techniques in microeconomics to solve managerial decision problems. The theory of the firm is used to integrate microeconomics with decision sciences using various business applications. Topics include optimization, economic theory of consumer and firm behavior, risk and uncertainty. A global view of managerial economics is taken to reflect the current globalization of production and distribution in the world . Normally offered every year.
3.00
A brief review of statistical methods including probability theory, estimation, and hypothesis testing. This background is used in the construction, estimation, and testing of econometric models. The consequences of a misspecified model, where the assumptions of a classical regression model are violated, are studied and the appropriate remedial measures are suggested. Other topics include dummy variables, binary choice models, and autoregressive models. Emphasis is on applied aspects of econometric modeling. There is extensive use of statistical software for data analyses. Normally offered every year.
EC 710 or EC 810, and EC 720 or EC 820, and EC 750 or EC 850
3.00
This seminar course considers issues of current and academic importance in economics. It is centered on the writing of a substantial research paper. The course includes a discussion of how to design an outline, conduct a literature review, build and estimate an economic model, collect data, and report the results clearly and correctly. Normally offered every year.
EC 710 or EC 810, EC 720 or EC 820, and EC 750 or EC 850
3.00
This seminar course considers issues of current and academic importance in international economics and finance. It is centered on the writing of a substantial research paper. The course includes a discussion of selecting a topic of the research paper, a literature review of the topic, building an analytical framework, determining estimation techniques, collection of data, presentation and analysis of estimation results, and a proper reporting of the completed paper. Prerequisites: EC 710, EC 720 and EC 750. Normally Offered every year.
3.00
Study of macroeconomic models and the application of these analytical models to examine current and past world economic problems. Topics include fundamental macroeconomic models which explain the determination of equilibrium output, the price level, exchange rates and balance of payments adjustment. Topics also include effects of money creation, government spending and taxation in an open economy as well as a closed economy, and international economic interdependence. Normally offered every year
3.00
The application of mathematical techniques in microeconomics to solve managerial decision problems. The theory of the firm is used to integrate microeconomics with decision sciences using various business applications. Topics include optimization, economic theory of consumer and firm behavior, risk and uncertainty. A global view of managerial economics is taken to reflect the current globalization of production and distribution in the world . Normally offered every year.
3.00
A brief review of statistical methods including probability theory, estimation, and hypothesis testing. This background is used in the construction, estimation, and testing of econometric models. The consequences of a misspecified model, where the assumptions of a classical regression model are violated, are studied and the appropriate remedial measures are suggested. Other topics include dummy variables, binary choice models, and autoregressive models. Emphasis is on applied aspects of econometric modeling. There is extensive use of statistical software for data analyses. Normally offered every year.
EC 710 or EC 810, and EC 720 or EC 820, and EC 750 or EC 850
3.00
This seminar course considers issues of current and academic importance in economics. It is centered on the writing of a substantial research paper. The course includes a discussion of how to design an outline, conduct a literature review, build and estimate an economic model, collect data, and report the results clearly and correctly. Normally offered every year.
EC 710 or EC 810, EC 720 or EC 820, and EC 750 or EC 850
3.00
This seminar course considers issues of current and academic importance in international economics and finance. It is centered on the writing of a substantial research paper. The course includes a discussion of selecting a topic of the research paper, a literature review of the topic, building an analytical framework, determining estimation techniques, collection of data, presentation and analysis of estimation results, and a proper reporting of the completed paper. Prerequisites: EC 710, EC 720 and EC 750. Normally Offered every year.
One graduate-level course relevant to economics, subject to the program director's approval.
The Master of Science in International Economics (MSIE) is designed for students who seek employment as an analyst or consultant with international trading companies, financial institutions, economics forecasting and consulting companies, multinational companies, international law firms, and a variety of international organizations. The program is also an excellent preparation for study at the doctoral level.
The degree requires the successful completion of nine required courses and one elective course.
3.00
Study of macroeconomic models and the application of these analytical models to examine current and past world economic problems. Topics include fundamental macroeconomic models which explain the determination of equilibrium output, the price level, exchange rates and balance of payments adjustment. Topics also include effects of money creation, government spending and taxation in an open economy as well as a closed economy, and international economic interdependence. Normally offered every year
3.00
The application of mathematical techniques in microeconomics to solve managerial decision problems. The theory of the firm is used to integrate microeconomics with decision sciences using various business applications. Topics include optimization, economic theory of consumer and firm behavior, risk and uncertainty. A global view of managerial economics is taken to reflect the current globalization of production and distribution in the world . Normally offered every year.
3.00
Analysis of the causes and consequences of international trade and international factor movements. Coverage of the neoclassical, the Heckscher-Ohlin and alternative theories of trade. Other topics include the instruments of trade policy, the impact of trade policies on economic welfare and income distribution, the political economy of protectionism, and the economics of integration.
EC 710
3.00
Analysis of equilibrium in international financial markets; open economy macroeconomic models, exchange rate movements, foreign currency market behavior and the international monetary system. Topics include theoretical aspects and empirical evidence of basic equilibrium conditions in international financial transactions, balance of payment adjustments, various approaches to the determination of foreign exchange rates, an analysis of the behavior of the foreign currency market under uncertainty, and international monetary integration focused on the evaluation of the European Monetary Union. Prerequisite: EC 710. Normally offered every year.
3.00
A brief review of statistical methods including probability theory, estimation, and hypothesis testing. This background is used in the construction, estimation, and testing of econometric models. The consequences of a misspecified model, where the assumptions of a classical regression model are violated, are studied and the appropriate remedial measures are suggested. Other topics include dummy variables, binary choice models, and autoregressive models. Emphasis is on applied aspects of econometric modeling. There is extensive use of statistical software for data analyses. Normally offered every year.
Pre-requisites: (EC 710 or EC 810) and (EC 750 or EC 850)
3.00
The emphasis in this course is on the use and interpretation of real world economic and financial data. Emphasis is on hands-on experience of retrieving data from various databases and then using quantitative tools for analytical purposes. Major economic indicators, the behavior of developed and emerging equity markets, currency movements, sovereign risk, the determinants of international capital flows and international trade patterns will be studied. The course trains students in using economic and financial databases, applying quantitative statistical techniques and using econometric software packages that are employed in economic and financial analysis and marketing research. Prerequisites: EC 710 and EC 750. Normally offered every year.
EC 750 or EC 850
3.00
Modeling and forecasting with time series data. Various forecasting techniques, including the autoregressive moving average (ARMA) models are presented. These techniques are applied to a wide range of economic and financial data. The latter part of the course deals with other time series econometric issues such as testing for a unit root, ARIMA models, cointegration, and the ARCH/GARCH family of models.
EC 710 or EC 810, EC 720 or EC 820, and EC 750 or EC 850
3.00
This seminar course considers issues of current and academic importance in international economics and finance. It is centered on the writing of a substantial research paper. The course includes a discussion of selecting a topic of the research paper, a literature review of the topic, building an analytical framework, determining estimation techniques, collection of data, presentation and analysis of estimation results, and a proper reporting of the completed paper. Prerequisites: EC 710, EC 720 and EC 750. Normally Offered every year.
EC 710 or EC 810, and EC 720 or EC 820, and EC 750 or EC 850
3.00
This seminar course considers issues of current and academic importance in economics. It is centered on the writing of a substantial research paper. The course includes a discussion of how to design an outline, conduct a literature review, build and estimate an economic model, collect data, and report the results clearly and correctly. Normally offered every year.
3.00
Asks why some countries are poor and others are rich. Examines growth over the very long term. Macroeconomic issues include the role of stability, structural adjustment, savings, exchange rate policy, technology and its diffusion, and institutions. Microeconomic topics include demography, education, health, the analysis of poverty and inequality, microfinance, social capital and property rights. The special problems of post-war economic reconstruction. The course includes significant work with large household datasets. Normally offered every other year.
or
FIN 825 Multinational Financial Management
Choose either EC 790 (Internship) or one graduate-level course relevant to international economics and finance, subject to the program director's approval.
The faculty will advise students as to which courses they should complete each semester. This program must be completed in no more than five years.This program provides an accelerated path for undergraduate economics majors to obtain a Master’s degree in Economics. Students would be allowed to take up to two master-level courses in their senior year. For each of these graduate courses taken, the student’s undergraduate total credit requirement will be reduced by four credits.
Undergraduate students at Suffolk University, majoring in Economics (BS or BA) or International Economics (BS or BA), can apply for this joint degree program. Applicants must have completed the first semester of their junior year at Suffolk University with an overall GPA of 3.0 or higher and a GPA of 3.3 or higher in at least three economics major courses taken at Suffolk. Application deadline is June 15th of the junior year. However, students may apply until November 1st of the senior year if they want to enroll for graduate courses in the second semester of their senior year.
Each student admitted to this joint degree program must meet all the requirements of one of the undergraduate degree programs (BS in Economics, BA in Economics, BS in International Economics, or BA in International Economics). In addition, the student must meet all the requirements of one of the master’s degree programs (MSIE or MSE). Upon successful completion of all of the degree requirements, a student will be conferred one joint degree.
A student may permanently exit the joint degree program and opt to graduate with a bachelor’s degree if all the requirements of a bachelor’s degree are met, in which case each of the two graduate courses taken in the senior year would be counted as a four-credit course.
The PhD in Economics program is academically rigorous with an applied focus. The core required courses provide a foundation in economics. The field courses allow you to tailor your studies to your own particular interests in theory and research.
Each student must complete a combination of coursework and dissertation research.
The program requires students to take at least 16 courses, including:Up to eight PhD level courses can be transferred at the program director's discretion.
The typical student will take courses in Microeconomics, Macroeconomics and Econometrics in their first two semesters after enrolling in the program. Upon successful completion of the core courses, a student in good academic standing will be allowed to take a qualifying exam in each of these three areas. The qualifying exams will be given twice a year. Students must pass the qualifying exams in no more than two attempts in order to continue in the program. Students must take the qualifying exams within six months of completing the core courses; any second attempt must be completed within six months of the first attempt. The coursework and the qualifying exams portion of the program must be completed within the first five years after enrollment.
After the student has passed the comprehensive qualifying exams, students will continue in the program by taking additional courses in their field of specialization. The required field courses are EC 826 and EC 827 for specialization in Financial Economics, and EC 830 and EC 842 for International/Development Economics. Upon completion of six required field courses in financial economics, public economics and development economics, students in good academic standing are required to enroll in the PhD Research Workshop I, EC 880, offered during the fall semester. Students are expected to identify a research paper topic, in their areas of concentration, during the summer prior to enrolling in EC 880, and must submit a two-page description of their topic by the second week of the semester in which they enroll in EC 880. As part of the EC 880 course, students are required to write a research paper and to make a paper presentation by the end of the semester in which the course is taken. In addition, students are expected to write a field research paper, due no later than February 15th in the calendar year following completion of EC 880. The field research paper will normally be graded by two faculty members. The student must receive a grade of “B” or better on the paper to pass the field paper requirement. Following completion of EC 880, students will enroll in PhD Research Workshop II, EC 881, during the spring of their third year. Students will continue to work on their dissertation research, and discuss and present their research at the workshop.
Upon completion of all required coursework and after completing the field paper requirement, students in good academic standing may make a proposal defense, leading up to the defense of the dissertation. The proposal defense will be made under the supervision of a committee consisting of one advisor and two other faculty members who will serve as readers. A minimum of two members of the committee must be from the Department of Economics. The student must defend the dissertation within a period of ten years after enrollment.
The program is designed so that the typical full-time student can complete the degree in four to five years. Student who have not completed the dissertation after four full years (16 courses and at least three semesters of dissertation research), enroll in EC 999, PhD Continuation for the duration of dissertation writing. EC 999 does not carry any academic credit.
A student who begins the PhD program, and who is in good academic standing, may choose to exit the PhD program and transfer credits earned towards a terminal master’s degree (MS) in Economics. In this case, the student must complete a total of 10 economics courses at the 700- or 800-level. Three of the ten courses must cover macroeconomics (EC 710 or EC 810), microeconomics (EC 720 or EC 820) and econometrics (EC 750 or EC 850). If one of these three courses is completed at the 800-level, it may not be repeated at the 700-level. Continuing PhD students in good academic standing may apply for the MS upon completion of their required coursework.
3.00
This course is designed for first-year Ph.D. students and reviews mathematical and statistical tools frequently used in advanced economic analyses. Included topics in the mathematics portion are real analysis, linear algebra, differential and integral calculus, and differential and difference equations. The statistics portion includes univariate and multivariate distributions, asymptotic distribution theory, and estimation and hypothesis testing. Normally offered every year.
3.00
This course divides itself into three principal topics: (1) economic growth, (2) the effects of shocks and rigidities on the performance of the economic system and (3) the effects of government policy on economic growth and performance. The course begins with a consideration of the Solow model and then generalizes the discussion to allow for endogenous savings, constraints on natural resources and adjustment costs associated with capital spending. Discussion of economic shocks focuses on the Lucas model and its critics. Government policy is considered for its effectiveness or ineffectiveness under alternative assumptions concerning price rigidities. The course makes ample use of elementary differential and integral calculus. Normally offered every year
EC 810
3.00
This course covers dynamic macroeconomic models involving business cycles, external balances, wage-price dynamics, and financial markets. Other advanced topics including monetary and fiscal policies, nominal and real rigidities, and global financial crisis are also covered.
3.00
This course introduces the foundations of advanced microeconomic analysis. We develop preference- and choice- based frameworks for choice theory, classical demand theory, and producer choice. We then examine partial equilibrium analysis of competitive markets, externalities and public good followed by choice under uncertainty. This course is offered concurrently with Quantitative Foundations of Advanced Economic Analysis (EC 800) and is the first of two courses covering advanced microeconomic theory. Advanced Microeconomic Theory II (EC 821) is the continuation course and is offered during the spring semester. Normally offered every year
EC 820
3.00
This course in microeconomic theory is a continuation of Advanced Microeconomic Theory (EC 820). It is designed to provide students with a firm grounding in microeconomics and to help them apply economic models in their research. The course covers decision-making under uncertainty; information economics and related topics of game theory (including incentive theory, moral hazard, mechanism design, signaling, bargaining, and auctions) welfare economics and social choice; and public economics, including externalities and public goods.
3.00
Introduction to econometrics with a focus on application. Includes a review of statistical methods for estimation, inference, and hypothesis testing. After the presentation of the classical linear regression models under ideal conditions, consequences of misspecification and violations of the ideal conditions are studied with suggestions on appropriate remedial measures. The course requires advanced knowledge of matrix algebra and calculus. Normally offered every year.
EC 850
3.00
Advanced topics in applied econometrics. The lectures cover systems of regression equations, simultaneous equation models, panel data models, and selected further topics. In addition to studying the relevant techniques, the course includes detailed discussions of papers in applied econometrics. The emphasis is on the application of the various methods using standard econometric software.
EC 820
3.00
The course covers the causes and consequences of international trade. Coverage of the classical, neo-classical and modern theories and empirical studies on the determinants of trade, such as technology, factor endowments, and increasing returns to scale. The determinants of offshoring and its economic effects. The effects of trade on the distribution of income. Coverage of the economic and welfare effects of trade policy instruments. The political economy of trade policy. The effects of economic growth on trade. The effects of trade on economic development.
Take EC-810;
3.00
A PhD-level treatment of development economics. Topics include the measurement of economic development, poverty, and inequality; the theory and empirics of economic growth, with special attention to the role of initial conditions; and the impact of recessions on developing countries. Microeconomic topics include demography, land rights, human capital (including education and health), capital markets (including microfinance), the environment, and the role of government (including issues related to war, corruption, the development of institutions, and social capital). The course includes significant work with large household datasets. Normally offered every other year.
EC 820
3.00
The course covers the causes and consequences of international trade. Coverage of the classical, neo-classical and modern theories and empirical studies on the determinants of trade, such as technology, factor endowments, and increasing returns to scale. The determinants of offshoring and its economic effects. The effects of trade on the distribution of income. Coverage of the economic and welfare effects of trade policy instruments. The political economy of trade policy. The effects of economic growth on trade. The effects of trade on economic development.
Take EC-810;
3.00
A PhD-level treatment of development economics. Topics include the measurement of economic development, poverty, and inequality; the theory and empirics of economic growth, with special attention to the role of initial conditions; and the impact of recessions on developing countries. Microeconomic topics include demography, land rights, human capital (including education and health), capital markets (including microfinance), the environment, and the role of government (including issues related to war, corruption, the development of institutions, and social capital). The course includes significant work with large household datasets. Normally offered every other year.
Take EC-811 EC-821 and EC-851;
3.00
The course will be conducted as a seminar, with weekly discussions and paper presentations on assigned readings. Topics to be covered include the question of whether the neoclassical model stands up to critiques from Austrians, Behaviorists and those cognitive scientists who question the existence and/or autonomy of the individual decision maker. Another topic is whether methodological individualism continues to serve as a viable approach to economics, given evidence that people do not choose rationally. Other topics: general equilibrium theory and its critics, methodological disputes between a priorists and empiricists, and how neuroeconomics informs our understanding of choice theory.
EC-821;
3.00
A doctoral-level treatment of topics in public choice and public finance. Public Choice focuses on understanding why government operates the way it does and how it impacts efficiency. Public Finance focuses on how governments raise tax revenue and how that impacts efficiency. Topics include an examination of theories of the origin of the state, interest groups, rent seeking, regulation, bureaucracy, federalism, democratic efficiency, and taxation.
Take EC-750 or EC-850;
3.00
This doctoral-level course provides an introduction to some of the important methods of time-series econometrics that are frequently employed in empirical economic or financial studies with time-series data. The focus is initially on the identification and estimation of ARMA models, including time trend and seasonality,and then on forecasting and forecast evaluations which will be based on the estimated model. Other topics to be discussed include vector autoregressions (VAR), unit root tests, ARIMA models, and univariate ARCH/GARCH models.
1.00
Required of all students in the second semester of their second year of pursuing their Ph.D. The purpose of this course is to offer training in the teaching of economics. The focus will be on classroom preparation, testing and grading, web support, student retention and other elements of a successful classroom experience. At the completion of the course, students will be graded on a Pass/Fail criteria, based on the instructors determination of the students readiness to teach in the classroom.
Completion of Ph.D. qualifying examinations and field courses
3.00
This course is designed to help students make progress on their dissertations. The workshop is a forum for presenting current work, discussing research, and enhancing scientific writing skills. Each student is expected to identify a research topic of interest during the summer prior to enrolling in this course. Students will present a research proposal in the beginning of the course and must write and present a field paper by the end of the course. Normally offered every year
Pre-requisites: EC 880
3.00
This course is a continuation of EC 880, and is designed to help students make progress on their dissertation research. The workshop provides a forum for presenting and discussing ongoing research and enhancing scientific writing skills. Students are required to submit a paper in the area of their dissertation research by the end of the course.
*Students can take EC 724, Cost-Benefit Analysis and Impact Evaluation, instead of EC 760/862.
