Department of Economics at Illinois State University Department of Economics at Illinois State University Department of Economics at Illinois State University

Graduate Curriculum

Applied Economics

Students in this sequence select a concentration in an applied economics field, including business economics, public finance, monetary economics, international trade or finance, and human resources (not all concentrations will be offered each year, see the Graduate Program Director for schedule). The thirty-four hours of credit must include the core courses: ECO 437 (3 hours), 438 (3 hours), 439 (3 hours), 440 (4 hours), 441 (3 hours), 492 (3 hours), and 495 (3 hours), for a total of 22 hours; 6 credit hours in economics at the 400 level; and 6 credit hours of additional electives at the 300 or 400 level within or outside Economics and selected in consultation with the Graduate Program Director.

Electricity, Natural Gas, and Telecommunications

This sequence emphasizes the application of economic analysis to the telecommunications, electric, and natural gas industries. The thirty-four hours of credit must include the core courses: ECO 437 (3 hours), 438 (3 hours), 439 (3 hours), 440 (4 hours), 441 (3 hours), 492 (3 hours), and 495 (3 hours), for a total of 22 hours; 9 credit hours in specialized courses: ECO 335 (3 hours), 435 (3 hours), and 436 (3 hours); and 3 credit hours in professional practice internship ECO 498.02 (3 hours) or an approved elective course.

Applied Community and Economic Development

This sequence is designed for returning Peace Corps volunteers, students with experiences equivalent to Peace Corps, or students preparing to enter the Peace Corps. The thirty-four hours of credit must include the core courses: ECO 437 (3 hours), 438 (3 hours), 440 (4 hours), 441 (3 hours), 490.04 (2 hours), 495 (3 hours), and 498.03 (5 hours), for a total of 23 hours; 8 hours of required specialized courses that deal specifically with issues related to community and economic development: POL/SOA 470 (3 hours), POL/SOA 477 (3 hours), ECO/POL/SOA 478 (2 hours); and ECO 492 (3 hours) or an approved 300 or 400 level elective course.

Applied Financial Economics

This sequence provides students training in the financial theory of the firm, financial markets and institutions to complement their training in applied economic analysis. The thirty-four hours of credit must include the core courses: ECO 437 (3 hours), ECO 438 (3 hours), ECO 439 (3 hours), ECO 440 (4 hours), ECO 441 (3 hours), ECO 492 (3 hours), and ECO 495 (3 hours), for a total of 22 hours; 8 hours of specialized courses: FIL 404 (2 hours), FIL 440 (3 hours), and a 400-level FIL elective course (3 hours); and 4 credit hours of additional electives at the 300 or 400 level within or outside Economics and selected in consultation with the Graduate Program Director. Before enrolling in the sequence, students must consult the Graduate Program Director of the Department of Economics and the MBA Program Office and obtain approval for registering for FIL courses. Students in the graduate program in the Department of Economics who satisfy the following requirements may take graduate level finance course offered by the College of Business: (1) The student must have taken and passed ECO 437 with a grade of B or better; (2) The student must have a graduate GPA of 3.0 or above; and (3) qualified students must take and pass FIL 404 or equivalent (equivalent means that the student has either taken a similar course at the undergraduate level or passed a proficiency exam administered by the MBA Program Office) before registering for FIL 440.

Applied Economics with Thesis

This option is appropriate for students whose interests lie outside one of the applied fields noted above and for those who intend to pursue doctoral level studies in economics or a related discipline. Beyond the core requirement, students can select courses designed to achieve specific career goals. The thirty-four hours of credit must include the core courses: ECO 437 (3 hours), 438 (3 hours), 439 (3 hours), 440 (4 hours), 441 (3 hours), and 499 (6 hours), for a total of 22 hours; 6 hours in economics at the 400 level; and 6 hours of additional electives at the 300 or 400 level within or outside Economics and selected in consultation with the Graduate Program Director.

In addition, a master's thesis is required to complete this option. The thesis is an exercise in which the student is expected to demonstrate the mature application of the tools and knowledge learned in the coursework to some economic problem. Five hours of credit are given for the thesis exercise toward the completion of the overall 34 hours required.