Resource Economics and Policy

The Master of Science in Resource Economics and Policy program (STEM degree)emphasizes how economic theory and tools can be applied to environmental, natural resource, energy, agricultural, and economic development problems. Students enrolled in the program combine core training in microeconomic theory and quantitative methods with specialized environmental, natural resource, agricultural, and energy economics and policy training. Graduate students acquire the skills and knowledge to apply economic theory and tools to address interesting policy and management problems. The School of Economics creates numerous opportunities for graduate students to expand their horizons by involving them in ongoing research projects, partnering them with public and private sector institutions, and placing them in innovative internship experiences.

Graduates from the Resource Economics and Policy program acquire strong analytical, quantitative, and communication skills, which prepare them for Ph.D. programs in economics, environmental policy, resource management, and related fields and employment with government agencies, consulting firms, businesses, and non-profit organizations. The program includes thesis and non-thesis options and prepares students for positions requiring advanced analytical skills, knowledge of economic systems and methods, and practical experience conducting economic analyses of policy issues.

Admission Requirements

Admission to the School of Economics is competitive. An undergraduate degree in economics or a related field is desirable, but not essential for admission. The School of Economics is much more concerned with the applicant’s capacity for graduate study, quantitative reasoning and the quality of previous work. Below is a list of required and recommended courses. Applicants seeking admission generally achieve a B or better in all required courses AND have a 3.0 GPA or higher. Applicants seeking funding (see below for more information) generally achieve an A- or better in most of the required courses listed below AND have a 3.5 GPA or higher. Applicants with lower grades/GPA may be admitted/funded, especially if they have unique professional or personal experiences demonstrating strong knowledge, skills, determination, and ability to succeed in a rigorous graduate program and uniquely contribute to the School of Economics.

Required Courses (UMaine equivalent*):

Intermediate Microeconomic Theory (ECO 220)
Statistics (STS 215 or 132)
Calculus I (MAT 126)

Strongly Recommended but Not Required (UMaine equivalent*):

Calculus II (MAT 127)
Calculus III (MAT 228)
Linear Algebra (MAT 262)
Econometrics (ECO 385)
Mathematical Economics (ECO 480)
Computer Programming experience (e.g., Stata, SAS, SPSS, R, Matlab, Python)

*Descriptions for UMaine equivalent courses can be found in the UMaine Undergraduate Catalog: http://catalog.umaine.edu/

In addition to the required and recommended courses listed above, we expect: 1) a strong, well-written personal essay that clearly communicates why the applicant is a good fit for our program and why our program is a good fit for the applicant in the context of a set of clear academic and professional goals; the essay should also demonstrate the potential for the applicant to succeed when faced with challenges; 2) strong letters of recommendation from faculty that taught courses included in our admission requirements and/or other mentors of related work (e.g., thesis/research advisor, job supervisor, etc.), which demonstrate the applicant’s ability to be successful in a rigorous graduate program; 3) a well-written and clear resume/CV that demonstrates a strong work ethic and interest in gaining applicable skills/knowledge outside of the classroom.

The Graduate Record Examination (GRE) scores are important for the faculty to evaluate the applications when there is uncertainty about the potential success of the applicant in the program. Although they are optional, it is recommended that applicants submit their GRE scores. In the past, the admitted students have had an average score of around 160 in both the Verbal and Quantitative sections and 4.0 in the Analytical section.

Applicants from countries where English is NOT the official language must furnish proof of their proficiency in English. There are two major tests for this purpose: the Test of English as a Foreign Language (TOEFL) and test from the International Language Testing System (IELTS). For admission, the School requires TOEFL scores to be above 92, 237, or 580 (on the internet, computer, or paper-based exams, respectively) or IELTS scores to be 6.9 or higher. To be competitive for a funded assistantship, scores should be higher: TOEFL above 98, 247, or 597, respectively, and the IELTS equal to 7.6 or higher. TOEFL/IELTS scores may be waived if the applicant has attended a U.S. college or university for at least four years or earned a degree from U.S. university or college.

Other general admission criteria are described in the Admission section of this catalog.

Degree Requirements

Successful completion of a minimum of 30 credit hours of course work is required for the M.S. in Resource Economics and Policy degree. Students on a thesis track also must pass an oral examination and have their written thesis approved by their Advisory Committee. The thesis offers students an opportunity to complete an independent research project under the guidance of an economics faculty member. The non-thesis option is designed for students who wish to obtain greater breadth in their coursework and job experience through internships, independent studies, and/or additional electives.

The following table outlines the program requirements for the M.S. degere with thesis and non-thesis options. The core requires ECE courses provide students with tools and problem-solving skill applicable to the economic analysis of a wide range of public policy issues. Elective courses allow student s flexibility in designing programs to meet their needs.

DEGREE REQUIREMENTS	M.S. REP
DEGREE REQUIREMENTS	Thesis	Non-Thesis
ECO 514 - Microeconomic Theory	3	3
ECO 530 - Econometrics	3	3
ECO 531 - Advanced Econometrics and Applications	3	3
ECO 571 - Advanced Environmental and Resource Economics I	3	3
ECO 572 - Advanced Environmental and Resource Economics II	3	3
ECO 699 - Graduate Thesis	6
ECO graduate-level elective credits	3	6
Additional graduate-level elective credits	6	9
Total Credits	30	30

*Descriptions for all UMaine Graduate level courses can be found in the UMaine Graduate Catalog: http://gradcatalog.umaine.edu/

Funding Support

The School of Economics provides a limited number of graduate assistantships to outstanding applicants through a competitive selection process. Nine and twelve-month graduate assistantships may be awarded for research, teaching, or administrative assistance. Graduate assistantships include a monthly stipend, tuition costs, and subsidized health insurance coverage.

There is no single criterion for admission with financial aid. The Graduate Committee evaluates a portfolio of items that include (not in any particular order) transcripts, grades in mathematics and economics courses, letters of recommendation, matching of the student’s research interests with the department’s needs, and the written statement of purpose. For more information on funding opportunities, please visit the School of Economics Graduate Program website:https://umaine.edu/soe/graduate/.

Dual Degree in Global Policy and Economics (M.S. Resource Economics Track)

With a partnership between the School of Policy and International Affairs and the School of Economics, the University of Naine offers an interdisciplinary Dual degree Degree program in Global Policy and Economics.

The Global Policy-Economics (M.S. Resource Economics track) dual degree program is intended for students interested in the application of economics and environmental policy in an international setting. The course of study is normally three years and leads to two master’s degrees: one in Global Policy (with a concentration in either International Trade and Commerce or International Environmental Policy) and one in Resource Economics and Policy (M.S.).

Students are required to complete the requirements for a master’s degree in (Resource Economics and Policy) and the requirements for either the Trade and Commerce or International Environmental Policy concentrations within the Global Policy degree.

Six credit from each degree can be counted as electives for the other (i.e., a total of 12 credits can be double counted); as a result, a total of only 51 hours is required to complete both degrees (rather than the 63 usually required for two completely independent masters degrees).

Thesis / Internship options for the dual degree:

1. For SOE thesis students a thesis is written for the Resource Economics and Policy degree; an internship is completed for the Global Policy degree.

2. For SOE non-thesis students : six credit hours in coursework replace the thesis requirement for the Resource Economics and Policy degree; an internship is completed for the Global Policy degree.

3. Students may write a separate thesis for the Resource Economics and Policy and Global Policy degrees.

Students in the dual-degree program will have two graduate coordinators, one from SPIA and one from SOE. Graduate advising committees, whether thesis or non-thesis, must comply with the rules outlined for each graduate degree. Two separate programs of study, one for each degree, must be developed and approved by the respective unit’s committee (SPIA and SOE) and the respective graduate program coordinators by the end of the second semester of the student’s tenure in the program. The student may choose to have two separate committees with separate SPIA and SOE chairs or one integrated SPIA/SOE committee with two co-chairs (one from SPIA and one from SOE).

The programs of study will be designed to meet the requirements of BOTH degrees in which they are enrolled. However, the dual degree program gives the student and his or her committee additional flexibility to devise a program that supports their specific needs.

Graduate Faculty

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

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

Andrew Crawley, Ph.D. (University of Glamorgan) Associate Professor in Regional Economic Development. Economic impact, economic modeling.

Angela Daley, Ph.D. (Dalhousie University) Associate Professor of Health Economics and Policy. Health and labor economics, poverty and inequality, social policy, children and families, rural and remote communities, including aboriginal people.

Keith S. Evans, Ph.D. (Iowa State University) Associate Professor of Marine Resource Economics. Marine resource management, cooperation in the commons, nonmarket valuation, and applied econometrics.

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

Kelsi Hobbs, Ph.D. (University of North Carolina at Greensboro), Assistant Professor. Applied microeconomics, public, urban, and innovation economics.

Sharon Klein, Ph.D. (Carnegie Mellon University), Associate Professor. Technical, economic, environmental, and social/policy impacts of renewable energy and energy efficiency, community-based sustainable energy adoption.

Jonathan Malacarne, Ph.D. (University of California-Davis) Assistant Professor. Development Economics, Agricultural Economics.

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

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

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

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

Thomas F.P.Wiesen, Ph.D. (University of Georgia), Assistant Professor. Macroeconomics, time series analysis, econometric methods, and financial economics.

Cooperating Faculty

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

Adam Daigneault, Ph.D. (Ohio State University) Cooperating Associate Professor of Forest, Conservation, and Recreation Policy. Freshwater management, climate change mitigation and adaptation, invasive species control, valuing ecosystem services.

Sandra De Urioste-Stone, Ph.D. (University of Idaho) Cooperating Associate Professor of Nature-based Tourism. Sustainable tourism planning and development.

Ewa J, Kleczyk, Ph.D. (Virginia Tech) Affiliated Graduate Faculty. Health and labor economics.

Jessica Leahy, Ph.D. (University of Minnesota) Cooperating Professor of Human Dimensions of Natural Resources. Environmental attitudes and behaviors towards forests, forestry, and other natural resource management topics.

Cynthia Isenhour, Ph.D. (University of Kentucky) Cooperating Professor of Anthropology and Climate Change. Economic and environmental anthropology, political ecology.

Stefano Tijerina, Ph.D. (University of Maine) Cooperating Adjunct Assistant Professor. Economic history and the Canadian economy.

Kristin Vekasi, Ph.D. (University of Wisconsin, Madison). Cooperating Associate Professor-Political Science and School of Policy & International Affairs. International political economy, and the dynamics of political conflict, foreign direct investment, nationalism, and the geopolitics of supply chains.