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 thesis or policy practicum that 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 program offers the student preparation for a variety of career paths. Students, with the assistance of their advisor design their programs of study for:

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

Students are required to work closely with their advisor on matters of course selection.

The School 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.

Admission Requirements

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. However, there are certain prerequisites that the student is required to complete before entering the graduate program. These prerequisites are:
• Intermediate microeconomic theory (equivalent to UM’s ECO 420)
• Statistics (equivalent to UM’s MAT 215 or 232); Econometrics (equivalent to UMaine’s ECO 485) is strongly recommended
• Calculus (equivalent to UM’s MAT 115, 126, or 151)
• Intermediate Macroeconomic Theory (equivalent of UMaine’s ECO 321)

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 Masters degree. Each graduate student who pursues one of the graduate programs administered by the School must pass an oral examination near the end of the student’s program. Graduate students in this program are required to complete the following sequence of courses:

ECO 511 - Macroeconomic Theory Credits: 3
ECO 514 - Microeconomic Theory Credits: 3
ECO 515 - Advanced Microeconomics Credits: 3
ECO 530 - Econometrics Credits: 3
ECO 531 - Advanced Econometrics and Applications Credits: 3

Student Support

The School has a number of research and teaching 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. For details on assistantships and for other information, contact Mario Teisl, Graduate Coordinator, School of Economics via email at teisl@maine.edu. Further information can be found on the web at http://www.umaine.edu/soe/

Graduate Faculty

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

Hsiang-Tai Cheng, Ph.D. (Virginia Polytechnic Institute, 1985), Associate Professor. Marketing, food demand, econometrics.

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

Gary L. Hunt, Ph.D. (University of Colorado-Boulder, 1984), Professor. Demographic and spatial economics, econometrics, mathematical modeling.

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

Stephen Reiling, Ph.D. (Oregon State University, 1976), Professor. Recreation economics, non-market valuation, economic impact, policies affecting rural Maine.

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.

Linda Silka, Ph.D. (University of Kansas, 1978, Professor and Director, Margaret Chase Smith Policy Center. Research partnerships, research ethics, grant writing, program evaluation, community-university partnerships.

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

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

Sharon Wagner, Ph.D. Engineering & Public Policy (Carnegie Mellon, 2011), Research: Energy Economics, Environmental Impacts of Electricity Generation, Energy Storage, and Renewable Energy Policy

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