Nov 18, 2019  
2003-2004 Graduate Catalog 
    
2003-2004 Graduate Catalog [ARCHIVED CATALOG]


Financial Economics



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The Department of Economics offers a Master of Arts in Economics and a Master of Arts in Financial Economics.

The Master of Arts in Economics degree emphasizes applied economics. The program has a firm commitment to economic theory, but the main focus is on economic policy analysis. Students must complete a core set of requirements that focus on economic theory and analytical tools. They must also complete a policy practicum, which requires application of the tools of economic analysis to specific subject areas and policy issues. The program is designed to enable students to identify the economic content of a problem, to develop hypotheses, to apply appropriate analytical tools and models, and to develop policy alternatives. The ability to communicate clearly is emphasized throughout the program.

The Master of Arts in Financial Economics degree provides advanced training in economics and finance to students interested in careers involving quantitative analysis in various areas of finance. The program provides a solid foundation in micro- and macroeconomic theory to ensure that graduates have the conceptual tools needed to develop sound research designs and understand the role of financial markets and institutions within the economy. The program combines existing courses in the M.A. program in Economics and the M.B.A. program in the Maine Business School of The University of Maine. The ability to communicate clearly is emphasized throughout the program.

Both programs offer the M.A. student preparation for a variety of career paths. Students, along with their advisory committee, may design their program of study for:

  1. Employment in business or government, or
  2. Continuing work on advanced degrees in economics, law, finance, business administration, and other areas.

Students are required to work closely with their M.A. advisory committee on matters of course selection and career preparation.

The Department offers a series of courses which reflect the wide scope of contemporary economics and the various specializations of the faculty. From year to year, the content of some courses will vary in accordance with changes in the significance of policy questions at the state, national, and international levels, and with faculty research interests.

Prerequisites

General Prerequisites

Admission is based upon the requirements of the Graduate School, Graduate Record Examinations (GRE) scores above the 50th percentile on the verbal, quantitative, and analytical parts of the exam, minimum undergraduate GPA of 3.0, and one semester of Calculus.

An undergraduate degree in economics is not required for admission. Applicants without the required background may be accepted provisionally while meeting these prerequisites, all of which are available at The University of Maine. The applicant will be provided guidelines by the Graduate Coordinator.

M.A. in Economics

For regular admission, applicants are required to have completed intermediate level undergraduate courses in microeconomic theory, macroeconomic theory, and economic statistics and have an acceptable undergraduate preparation in mathematics.

M.A. in Financial Economics

For regular admission, applicants are required to have completed basic courses in accounting, calculus, and statistics, and intermediate level undergraduate courses in microeconomic theory, macroeconomic theory, and business finance.

Requirements


General Requirements


The basic curriculum is offered annually. Successful completion of 30 credit hours of course work is required for the Masters degree.

M.A. in Financial Economics


Graduate students in this program are required to complete the following sequence of courses:

Two courses are required from the following BUA courses:


Two courses are required from the following BUA courses:

Graduate Faculty


Melvin Burke, Ph.D. (Pittsburgh, 1967), Professor. International economics, economic development, Marxian economics.

Thomas D. Duchesneau, Ph.D. (Boston College, 1969), Professor. Industrial organization, higher education finance.

Gary L. Hunt, Ph.D. (University of Colorado-Boulder, 1984), Professor. Regional economics.

Adrienne Kearney, Ph.D. (Pennsylvania State University, 1992), Assistant Professor. Monetary theory and policy, macroeconomics, international finance.

Michael Montgomery, Ph.D. (University of Florida, 1988), Associate Professor. Monetary theory, macroeconomics, Austrian economics.

Ralph Townsend, Ph.D. (Wisconsin, 1984), Professor. Econometrics, regulation, marine economics.

Philip Trostel, Ph.D. (Texas A & M University, 1991), Associate Professor. Human capital, education policy, and tax policy.

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