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Economics

The program requires a minimum of 30 credit hours of course work (at least 15 of which must be in 6000-level graduate courses), a non-credit master's professional project and an oral comprehensive examination.

For students completing a specialization, course work will include: 12 credit hours of required core courses in economic theory and quantitative analysis, 12 credit hours of course work relating to a chosen area of specialization and six credit hours of electives. Specializations include: business economics, financial economics, international economics, marketing research and real estate economics. A general track (no specialization) is also available. General track students must complete the 12 credit hours of required core courses, 12 credit hours of economics electives and six additional credit hours in economics, business or the social sciences. With the approval of the program director and appropriate extra work of graduate caliber, a student may apply toward the degree up to six credit hours of selected 5000-level upper division courses. Also, with the approval of the program director, a student may substitute, for the usual elective requirements, up to six credit hours of course work in fields outside of economics and business administration.

The master's professional project consists of a careful application of the student's newly acquired analytical skills to a particular issue or problem. The professional project is completed during the final term of the program and is often an extension of a previously completed course project.  The outline for the MSAE Professional Project form is posted to the Graduate School of Management's website. Refer to the bulletin for the professional project outline and the professional project submission deadlines.

An oral comprehensive examination will be administered in the student's last term of the program. This examination will cover subject matter prescribed by the Department of Economics.

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Program Details

Each student must choose one of the areas of specialization: business economics, financial economics, international economics, marketing research, real estate economics or the student must complete the general track. All specializations and the general track require a common set of core courses: two courses in quantitative analysis ECON 6560 Applied Econometrics and ECON 6561 Applied Time-Series Econometrics and Forecasting and two courses in microeconomic and macroeconomic theory ECON 6503 Microeconomic Theory and Applications and ECON 6504 Macroeconomic Theory and Applications. ECON 6560 Applied Econometrics is strongly recommended to be taken in the first term of course work.

Business Economics

The Business Economics specialization is suitable for individuals seeking careers in the private sector in industries such as utilities, services and manufacturing. It combines economics courses with such business courses as managerial accounting, marketing management and operations management.

Additional course work in Economics		6-9
ACCO 6100	Managerial Accounting	3
6-9 credit hours from the following:		6-9
BULA 6110	Legal Issues in Business and Technology
FINA 6100	Financial Management
MANA 6100	Organizational Behavior
MARK 6100	Marketing Management
MARK 6160	Marketing Research
OSCM 6100	Operations and Supply Chain Management
OSCM 6110	Manufacturing Management
OSCM 6115	Service Operations Management
OSCM 6160	Quantitative Decision Modeling and Analysis
Up to three 1-credit MBA skills classes (BUAD 6101-6125)*

*	Ideally, BUAD 6108 GIS, BUAD 6112 SAS and BUAD 6113 SPSS or equivalent.

Financial Economics

The Financial Economics specialization is appropriate for those interested in a career in the financial services sector including banks, insurance companies and securities markets. It blends such economics courses as monetary theory and policy with courses in financial policy and advanced seminar in finance. Financial economics requires the core course work plus:

ACCO 6100	Managerial Accounting	3
ECON 6580	Monetary Theory and Policy	3
FINA 6100	Financial Management	3
FINA 6111 - 6953		3
Graduate electives in Economics		6

International Economics

The International Economics specialization is appropriate for those interested in a career in industries or in government that deal in the ever-expanding global economy. This is accomplished by completing courses in international trade and international currency markets, as well as those with an emphasis on global business practices. International economics requires the core course work plus:

ECON 6580	Monetary Theory and Policy	3
ECON 6544	International Currency Markets	3
ECON 6546	International Trade	3
Six credit hours selected from:		6
ECON 5045	Comparative Economic Development
INBU 6951	International Study in Business:
MANA 6140	International Management
MARK 6140	Global Marketing Strategy
POSC 6621	International Political Economy
Graduate elective in Economics		3

For international economics, there is an additional requirement of a minimum of 12 credit hours of foreign languages at the undergraduate level or the equivalent.

Marketing Research

The Marketing Research specialization is designed for students interested in a career in marketing research and market analysis, working either for marketing research consulting companies or in marketing research departments of companies in the service, manufacturing or financial sector. It combines the applied econometric and forecasting courses taught in the economics core with courses in marketing management, marketing research and other traditional marketing areas. Marketing Research requires the core course work plus:

MARK 6100	Marketing Management	3
MARK 6160	Marketing Research	3
Six credit hours from MARK 6110-6953		6
up to three 1-credit GSM skills classes (BUAD 6101-6125)*
Graduate electives in Economics		6

*	Ideally, BUAD 6108 Skills: GIS Business ArcView Software, BUAD 6112 Skills: SAS and BUAD 6113 Skills: SPSS or equivalent

Real Estate Economics

The Real Estate Economics specialization is intended for students interested in careers regarding the development, site selection, financing and construction of real estate properties as well as urban/regional development. For that purpose, the specialization includes courses in urban and regional economics, the financial and development aspects of real estate as well as courses in data management and GIS tools often used by practitioners in the field. Real estate economics requires the core course work plus:

ECON 6512	Studies in Urban and Regional Economics	3
ECON 6530	Principles of Commercial Real Estate Development	3
FINA 6100	Financial Management	3
REAL 6115	Real Estate Finance and Investments	3
up to three 1-credit MBA skills classes (BUAD 6101-6125)*
Graduate elective in Economics**		3

*	Ideally, BUAD 6108 Skills: GIS Business ArcView Software, BUAD 6112 Skills: SAS and BUAD 6113 Skills: SPSS or equivalent
**	Preferably ECON 6510 Economics of the Public Sector.

The General Economics track provides a more flexible option for students who wish to focus almost exclusively on economics courses. The general economics track requires the core course work plus: 12 credits in economics and 6 elective hours in economics, business administration or social sciences.

Note: Graduate School of Management courses may require appropriate prerequisites.

Research Involving Humans or Animals

A student whose research either on or with humans or animals must receive written approval before undertaking such research. The approval forms for human or animal research may be obtained through the Office of Research Compliance. This approval form and any additional paperwork must be submitted to the Graduate School of Management. Additional information may be found at marquette.edu/researchcompliance.

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Bachelor's–Master's Program

This five-year program allows students to earn both their master of science in applied economics (M.S.A.E.) and an undergraduate degree from the College of Arts and Sciences or the College of Business. Undergraduate students begin their graduate work in their senior year by taking two graduate level courses.

These graduate courses double-count toward the undergraduate and graduate degrees. Should a student be denied admission to the M.S.A.E. program, the courses will be counted toward the undergraduate degree. A minimum grade of "B" is required for courses taken as a undergraduate student for graduate credit to apply toward graduate program requirements. Upon completion of the first term as a master's candidate, the student must petition the appropriate Graduate School of Management program director to transfer the courses taken as an undergraduate to the master's degree.

To be considered for admission to the five-year program, applicants must formally apply to the Graduate School of Management during their senior year at Marquette University, complete all of the application requirements as listed above and indicate on the application that they are applying for the five-year program. For detailed information, contact the Economics Department by telephone (414) 288-7377 or fax (414) 288-5757.