Financial Economics

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 microeconomic and macroeconomic theory and financial management 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 courses in the M.A. program in Economics and the M.B.A. program in the Maine Business School.

The M.A. in Financial Economics prepares graduates for employment in the financial services sector in positions requiring advanced analytical skills and in-depth familiarity with the structure and functioning of financial markets and institutions.

Admission Requirements

Acceptance into the School of Economics graduate programs is competitive. An undergraduate degree in economics or a related field is desirable, but is not essential for admission to this program. The School is much more concerned with the applicant’s capacity for graduate study and the quality of previous work. The successful applicant has a strong academic record, high scores on the GRE, and outstanding recommendations. All of the School’s programs require some training in economics and quantitative methods; students are required to complete the following prerequisites before entering the M.A. in Financial Economics program:

Intermediate Microeconomic theory (equivalent to UM’s ECO 420)
Statistics (equivalent to UM’s MAT 215 or 232); Econometrics (equivalent to UM’s ECO 485) is strongly recommended
Calculus (equivalent to UM’s MAT 115, 126, or 151)
Intermediate Macroeconomic Theory (equivalent to UM’s ECO 321)

The M.A. in Financial Economics also requires basic courses in accounting and business finance. Other general admission criteria are described in the general section of this catalog.

Requirements

Successful completion of 30 credit hours of course work is required for the M.A. in Financial Economics degree. Students also must pass an oral examination before the completion of their program. Graduate students in this program are required to complete the following sequence of courses:

BUA 651 - Financial Management Credits: 3
ECO 511 - Macroeconomic Theory Credits: 3
ECO 514 - Microeconomic Theory Credits: 3
ECO 524 - Advanced International Finance Credits: 3
ECO 530 - Econometrics Credits: 3
ECO 531 - Advanced Econometrics and Applications Credits: 3
In addition to this sequence, students are required to take two additional graduate courses in economics (Credits: 6) and two courses from the following list:

• BUA 652 - Management of Financial Institutions Credits: 3;

• BUA 653 - Investment Management Credits: 3;

• and BUA 654 - Futures and Options Markets Credits: 3.

Student Support

The School has a number of research and teaching graduate assistantships available for qualified students on a competitive basis. Efforts are made to match the student’s interests and background with the needs of the School. Scholarship funding is also available. Graduate assistantships and scholarships are awarded on a competitive basis. For details on funding opportunities and for other information, contact Jonathan Rubin, Graduate Coordinator, School of Economics via email at rubinj@maine.edu. Further information can be found on the School’s website at http://www.umaine.edu/soe/

Graduate Faculty

The School of Economics Graduate Faculty includes faculty with economics, engineering, law, psychology, and human ecology expertise.

Mario Teisl, Ph.D. (University of Maryland, 1997), Professor and Director of the School of Economics. Information economics, food safety, environmental and social marketing, and environmental economics.

Kathleen Bell, Ph.D. (University of Maryland, 1997), Associate Professor. Environmental economics, public economics, and spatial economics.

Christine Beitl, (University of Georgia, 2012) Cooperating Assistant Professor of Anthropology, Ph.D. Ecological and Environmental Anthropology. Intersections of socio-political, ecological, and economic systems.

James Breece, Ph.D. (Boston College, 1982), Associate Professor. Macroeconomics, international trade, economic forecasting.

Xuan Chen, Ph.D. (North Carolina State University, 2013), Assistant Professor. Risk Management, Agricultural Finance, Production Economics, Spatial Econometrics

Mindy Crandall, (Ph.D. Applied Economics, Minor in Forest Resources, Oregon State University) Cooperating Assistant Professor. Forest Management, Forest Products Markets, Alternative Economic Development.

Keith S. Evans, (Ph.D., Economics, Iowa State University) Assistant Professor. Search; learning; Information sharing; fishery management; nonmarket valuation; applied econometrics

Todd Gabe, Ph.D. (Ohio State University, 1999), Professor. Regional and community economic development and public finance.

Gary L. Hunt, Ph.D. (University of Colorado-Boulder, 1984), Professor. Energy economics and regional and international economic growth and development.

Sharon Klein, Ph.D. (Carnegie Mellon University, 2011), Assistant Professor. Renewable energy, energy economics and policy, environmental impacts of electricity generation, energy generation, and energy storage.

James McConnon, Ph.D. (Iowa State University, 1989), Professor. Regional and community economic development, innovation, and small business management.

Michael Montgomery, Ph.D. (University of Florida, 1988), Associate Professor, Macroeconomics, monetary theory, and austrian economics.

Caroline Noblet, Ph.D. (University of Maine, 2013), Assistant Professor. Environmental economics and psychology.

Jonathan Rubin, Ph.D. (University of California-Davis, 1993), Professor. Environmental regulation and design, economics of alternative transportation fuels and vehicles, economics of greenhouse gas reductions.

Philip Trostel, Ph.D. (Texas A & M University, 1991), Professor. Human capital and savings, public economics, and labor economics.

Tim Waring, Ph.D. (University of California-Davis, 2010), Assistant Professor. Sustainability, cultural evolution, and human culture and cooperation.

Greg White, Ph.D. (Washington State University, 1976), Professor. Marketing, finance, and business administration.