The Academic Program
Department of Economics
Graduate Program
An Overview
First Year
Progress Through the Program
The Job Market
Length of the Program
M.A. in Economics
Ph.D.s Academic Year 2006-2007
An Overview
A primary strength of Minnesota 's program is emphasis on a thorough grounding in economic analysis. Our program is relatively difficult, but we provide the student with considerable help, including an able and accessible faculty, adequate study facilities, excellent library and computer facilities, and a pleasant community. To enable us to provide this help, we try to limit each year's entering class to about twenty students, although some years may see larger classes than others. In recent years, about three-fourths of our students have come from foreign universities, and about one-fourth have been women.
The typical student devotes most of the first year to two basic analysis sequences: Microeconomics (Economics 8101, 8102, 8103, 8104) and Macroeconomics (Economics 8105, 8106, 8107, 8108). These courses provide the foundation for later work in economic theory and in applied fields. Even field courses emphasize the analysis of problems.
This emphasis on analysis makes our program inappropriate for students who want a terminal master's degree. Because the first year is devoted largely to economic theory, combining theory with training in any of the applied fields of economics requires two years in the program even for an M.A. Moreover, the first-year theory courses are more advanced than those of M.A. programs. Therefore, we admit students only for the Ph.D.
The emphasis on analysis from the beginning of the program demands that the entering student have extensive mathematical skills. At a minimum, the program requires a thorough understanding of multivariate calculus and linear algebra. Thorough understanding includes the ability to use the concepts of those fields independently as well as the ability to follow the reasoning of others who use those concepts. A student will not be admitted to the program unless it is clear from the application materials that he or she has this understanding. Additional mathematical preparation is preferable. An introduction to real analysis is probably the most useful course if you wish to save time in the graduate program, since it provides the first systematic introduction to rigor in mathematical proofs. Familiarity with concepts of mathematical statistics is also valuable.
Each entering student is assigned a temporary faculty adviser with similar interests. The initial adviser will not necessarily be the adviser during the entire period of study. We urge students to select a permanent adviser as soon as they decide definitely on their field(s) of specialization, usually toward the end of their second year of study.
A student's formal course program must be approved both by his or her adviser and by the Director of Graduate Studies. To meet these requirements, the student must pass preliminary examinations in microeconomics and macroeconomics, and two preliminary examinations in additional fields after completing the relevant course sequences in economic theory and in various fields. The student must complete courses in one or more supporting fields (you will be strongly advised to include econometrics) and complete an acceptable thesis. You can substitute a formal minor from another department for the supporting field. Workshops and courses in special topics help students select thesis topics and get a more specific idea of the nature of acceptable thesis research.
