Economics

About the Program

Economics is at the root of business decisions, government policy making and global relations. As a course of study, it can lead to diverse career opportunities. A degree in economics provides students with a robust understanding of the workings of the market system and major economic institutions, economic policy, and development. The Economics Department boasts an award-winning group of faculty members who are leading researchers and dedicated teachers. The world-renowned faculty members take a hands-on approach to teaching, research and mentoring students.

Two graduate programs in economics are currently offered:

About the Masters Program

Master of Science: 45.0 credits

The Master of Science program in Economics at Drexel University integrates training in core economics, rigorous quantitative methods and policy analysis. It prepares students for a career in industry, the financial sector, government or international organizations. The program also provides the necessary knowledge and the analytical skills to the students wishing to pursue a PhD degree in related areas.

Admission Requirements/Financial Aid

The LeBow College of Business seeks applicants with exceptional ability and motivation. Students who hold a bachelor’s degree, either in economics or another discipline, may apply to the MS program. All courses in the program expect a preparation of at least principles of economics and basic statistics. Students who lack some part of this preparation may be considered for admission conditional on their completing the appropriate undergraduate courses as non-matriculated students during the summer term before they begin the program in the fall.

 In reviewing an applicant's credentials, the faculty will consider the following factors:

  • Prior Academic Accomplishments: The faculty will examine all course work taken prior to application, paying particular attention to the specific courses that have been completed. Applicants should have attained a minimum grade point average of 3.0 (on a 4.0 scale) for all undergraduate course work completed. 
  • Graduate Record Examination (GRE) or Graduate Management Aptitude Test (GMAT): Applicants are required to submit GRE or GMAT scores. Scores of more than five years old are not accepted.
  • Test of English as a Foreign Language (TOEFL): Applicants whose native language is not English and who have not already received a degree from a U.S. university must also submit scores from the Test of English as a Foreign Language (TOEFL).
  • Personal Statement/Essay: Each applicant must submit a personal statement. The personal statement should explain the applicant's educational and personal experiences that have influenced the decision to pursue an MS and should discuss the candidate's career plans and goals.
  • Letters of Recommendation: Two letters of recommendation must be submitted in support of the application. Applicants are strongly encouraged to seek recommendations from academics or other professionals who can assess the applicant's likelihood of success in the MS program.

Admission Procedures
The MS in Economics program admits students each fall. To be considered for admission, the completed application must be received by the LeBow College of Business Office of Graduate Admissions. Admissions are considered on a rolling basis and will remain open until all available slots are filled. It is the applicant's responsibility to ensure that all transcripts, test scores and letters of recommendation, as well as the application form and the personal statement, are received by LeBow College Business, School of Economics.

Graduate Assistantships and Financial Aid
Financial assistance for the MS program may be available on a limited basis to highly qualified candidates.
Research Assistantships and Teaching Assistantships may be also be available on a limited basis for highly qualified candidates. 

To obtain an application, please contact:

Graduate Admissions Office
Bennett S. LeBow College of Business
Drexel University
3141 Chestnut Street
Philadelphia, PA 19104-2875
215.895.6804
msecon@lebow.drexel.edu

Master of Science in Economics

This program offers a number of options for students with different backgrounds and aspirations. The main component provides an industry and public policy emphasis that will enable students to apply economic methodology in government and private sector careers. For students who aspire to a PhD in economics or to work in economic research, the program provides options to obtain the needed rigorous training in advanced theory. Completion of the degree requires 45.0 credits.

Degree Requirements 

Core Requirements
Select one course from each of the following sets:
ECON 548Mathematical Economics3.0
or ECON 902 Mathematical Economics
ECON 550Econometrics3.0
or ECON 940 Econometrics I
ECON 560Time Series Econometrics3.0
or ECON 941 Econometrics II
ECON 610Microeconomics3.0
or ECON 910 Advanced Microeconomics I
ECON 614Macroeconomics3.0
or ECON 920 Advanced Macroeconomics I
STAT 601Business Statistics3.0
or STAT 931 Statistics for Economics
Economics electives *
Complete 18.0 additional credits from the following:18.0
Managerial Economics
Public Finance and Cost Benefit Analysis
International Economics
History of Economic Analysis
Applied Industrial Analysis
Business & Economic Strategy: Game Theory & Applications
Health Economics
Economic Analysis of Health Systems
Special Topics
Seminar
Mathematical Economics
Advanced Microeconomics I
Advanced Microeconomics II
Advanced Macroeconomics I
Advanced Macroeconomics II
Macroeconomic Dynamics
Econometrics I
Econometrics II
Applied Microeconometrics
Industrial Organization I
Industrial Organization II
Industrial Organization Seminar
International Trade
Empirical International Trade
Open Economy Macroeconomics
International Trade Seminar
Open Economy Macro Seminar
Game Theory
Economic Analysis of Multinational Corporations
Statistics for Economics
Business electives
Complete 9 additional credits from the list of Economics electives or the list below:9.0
Legal Options in Decision Making
Legal Aspects of Employment
Government and Business
Financial Performance of the Firm - Accounting
   and Financial Performance of the Firm - Finance
Graduate Internship
Corporate Financial Management
Advanced Financial Management
Financial Institutions & Markets
Entrepreneurial Finance
Mergers and Acquisitions
International Financial Management
Global Marketing
Managing Technology Innovation
Managerial Decision Models and Simulation
Operations Research I
Operations Research II
Advanced Mathematical Program
Statistical Decision Theory I
Statistical Decision Theory II
Statistical Sampling
Total Credits45.0
*

Students who complete ECON 911, ECON 921 and ECON 941 may take the following courses during their second year provided they have the required prerequisites and approval from the Program Coordinator: ECON 925, ECON 942, ECON 950, ECON 951, ECON 959, ECON 960, ECON 961, ECON 962, ECON 969, ECON 979


About the PhD Program

Doctor of Philosophy: 60.0 credits (Post-Master's degree)
Doctor of Philosophy: 90.0 credits (Post-Bachelor's degree)

Drexel's PhD program in Economics prepares economists for academic research as well as careers in government or industry by providing a solid background in economic theory, quantitative analysis, and analytical tools at the advanced level. Each year a relatively small number of PhD students are accepted into the program, which allows for a collegial environment where the PhD students interact with faculty on a daily basis. Requirements for the MS in Economics program are satisfied if the coursework associated with the first and second years of the PhD program are complete.

The PhD program in Economics offers three fields of study:

  • industrial organization
  • international trade
  • open economy macroeconomics

The PhD program in Economics is also particularly strong in applied microeconometrics.  

Students typically complete their coursework in two years and the PhD degree in five. Students work as research and teaching assistants under the supervision of a faculty member. After their second year, students can teach independently.

Admission Requirements/Financial Aid

The LeBow College of Business seeks applicants with exceptional ability and motivation. For the PhD, the College places emphasis on applicants who can provide evidence of strong potential in a research-oriented program. In general, prior training at either the undergraduate or graduate level in economics and mathematics is strongly encouraged. All courses in the program expect a preparation of at least principles of economics and basic statistics. Students who lack some part of this preparation may be considered for admission conditional on their completing the appropriate undergraduate courses as non-matriculated students during the summer term before they begin the program in the fall.  

Admission is competitive and highly selective.

 In reviewing an applicant's credentials, the faculty will consider the following factors:

  • Prior Academic Accomplishments: The faculty will examine all course work taken prior to application, paying particular attention to the specific courses that have been completed. Applicants should have attained a minimum grade point average of 3.0 (on a 4.0 scale) for all undergraduate course work completed. They also should have attained a minimum 3.3 average for any graduate-level course work taken. The faculty generally expects applicants to demonstrate a substantially higher level of accomplishment than these minimum requirements. A master's degree is not a requirement.
  • Graduate Record Examination (GRE): Applicants are required to submit GRE scores. GRE scores are not accepted if they are more than five years old.
  • Test of English as a Foreign Language (TOEFL): Applicants whose native language is not English and who have not already received a degree from a U.S. university must also submit scores from the Test of English as a Foreign Language (TOEFL).
  • Personal Statement/Essay: Each applicant must submit a personal statement. The personal statement should explain the applicant's educational and personal experiences that have influenced the decision to pursue a PhD and should discuss the candidate's career plans and goals. The faculty are especially interested in learning about an applicant's prior research experience and the commitment to future research in the applicant's area of specialization.
  • Letters of Recommendation: Two letters of recommendation must be submitted in support of the application. Applicants are strongly encouraged to seek recommendations from academics or other professionals who can assess the applicant's likelihood of success in a research-oriented PhD program.

Admission Procedures
The PhD Programs in Economics admits students each fall. To be considered for admission, the completed application must be received by the LeBow College of Business Office of Graduate Admissions no later than January 15th. It is the applicant's responsibility to ensure that all transcripts, test scores and letters of recommendation, as well as the application form and the personal statement, are received by Drexel University no later than January 15th.

Assistantships and Financial Aid
The LeBow College of Business strives to provide graduate assistantships to all entering PhD students. Each applicant to the PhD program is automatically considered for a graduate assistantship as well as for admission into the program. First-year graduate assistants are assigned to work with a faculty member on research activities. During the second and subsequent years, graduate assistants are generally assigned a combination of teaching and research responsibilities. Assistants receive a stipend and 27.0 credits of tuition remission per academic year. Doctoral students who are making satisfactory progress toward the degree can expect to be provided with an assistantship for at least four years.

Additional information can be found online at the PhD Program in Economics page as well as in the LeBow College of Business PhD Programs Handbook

To apply and for application information please check online at the LeBow Ph.D. Admissions webpage. 

Questions should be addressed to lebowphd@drexel.edu

Degree Requirements

The PhD in Economics program prepares economists for careers in research, teaching, business, and government. It is designed to provide students with not only a broad understanding of modern economics, but also the opportunity to conduct high quality research in a number of specific fields of study including industrial organization, international economics, and health economics.

In the second year of study, the PhD in Economics offers three fields of specialization: industrial organization, international trade, and open economy macroeconomics. Students complete courses in two of these fields of specialization.

Curriculum 

60.0 credits (Post-Master's degree)
90.0 credits (Post-Bachelor's degree)

  • 27.0 credits of first year core courses
  • 18.0 credits of economics field requirements
  • 15.0 credits (minimum) of dissertation research
  • 30.0 additional dissertation research credits for students without a Master's degree

Core Program

All PhD students pursue a common set of core courses. The following courses are all completed during the first year, with the exception of ECON 942 Econometrics III, which is completed in the second year.

Core Courses
ECON 902Mathematical Economics3.0
ECON 910Advanced Microeconomics I3.0
ECON 911Advanced Microeconomics II3.0
ECON 920Advanced Macroeconomics I3.0
ECON 921Advanced Macroeconomics II3.0
ECON 940Econometrics I3.0
ECON 941Econometrics II3.0
ECON 942Applied Microeconometrics *3.0
ECON 980Game Theory3.0
STAT 931Statistics for Economics3.0
Total Credits30.0

*

Taken in the second year.

 First-Year Examination

After the completion of the core coursework, students are examined on their competence in the core material and their readiness to proceed.

Fields of Specialization
Students are required to complete the coursework for at least two of the following fields/sequences.
Industrial Organization
Industrial Organization I
Industrial Organization II
Industrial Organization Seminar
International Trade
International Trade
Empirical International Trade
International Trade Seminar
Open Economy Macroeconomics
Macroeconomic Dynamics
Open Economy Macroeconomics
Open Economy Macro Seminar

 Electives

In addition, students can take elective courses from the Economics Department, from any other departments in the College of Business, and from departments in other Colleges of Drexel University. The following is a set of sample electives:

ECON 930Monetary Economics3.0
ECON 952Health Economics3.0
ECON 955Public Economics3.0
ECON 964Economic Development3.0
ECON 990Special Topics-PhD-Economics0.5-9.0
ECON 992Independent Study3.0
Additional courses with the permission of the advisor3.0

Dissertation Research12.0
Dissertation Research in Economics

 

Candidacy Examination

At the completion of their coursework, students take written and oral candidacy examinations. These examinations test each student's preparation for dissertation research. Once the candidacy examinations are passed, the student is recognized as a PhD candidate.

Doctoral Dissertation

The doctoral dissertation is a piece of original research designed to make a contribution to the student's chosen discipline. Each candidate selects a dissertation advisor and an advisory committee of additional faculty members is formed. The candidate prepares a detailed dissertation proposal that is defended before the University community. After successfully defending the proposal, the candidate conducts the research (12-credit minimum) and prepares a written dissertation. The completed dissertation is then defended in a final oral examination.

Dissertation Format Review

In addition to meeting the Thesis Advisory Committee's standards of originality and scholarly content, all doctoral dissertations must conform to university format requirements. Students should obtain a copy of the Thesis Manual from the Graduate Studies Office or from the Thesis Reviewer in 5038 MacAlister Hall.

Economics and International Business Faculty

Marco Airaudo, PhD (University of Pennsylvania Philadelphia). Assistant Professor. Computational economics, international economics, macroeconomics and monetary economics.
Richard Barnett, PhD (University of Minnesota). Associate Clinical Professor. Economic theory, macroeconomics.
Sebastien Bradley, PhD (University of Michigan). Assistant Professor. Public finance, international economics.
Mian Dai, PhD (Northwestern University). Assistant Professor. Managerial economics and strategy.
Pia DiGirolamo, PhD (Purdue University). Assistant Clinical Professor. Macroeconomics, international finance.
Anne Duchene, PhD (Ecole Nationale des Ponts et Chaussees, France) Department of Economics and International Business. Assistant Professor. Microeconomics, industrial organization, law and economics.
Ramya Ghosh, PhD (Claremont Graduate University). Assistant Clinical Professor. International economics.
Shawkat M. Hammoudeh, PhD (University of Kansas) Department of Economics and International Business. Professor. Applied econometrics, financial economics, international economics, natural resource economics.
Teresa D. Harrison, PhD (University of Texas at Austin) Department of Economics and International Business. Associate Professor. Econometrics, public finance, industrial organization, empirical microeconomics including health and nonprofit organizations.
Paul E. Jensen, PhD (Penn State University) Associate Dean, College of Business. Associate Professor. International trade. Primary research interest is international trade, particularly in empirical studies of international trade patterns.
Bang Nam Jeon, PhD (Indiana University) Department of Economics and International Business. Professor. Financial economics, world financial market linkages, foreign direct investment flows in the Asia-Pacific economies, the Korean economy: currency crisis, FDI, and macroeconomic issues, regional economic integration and newly industrializing economies: the
Stephen Joyce, MA (Temple University) Department of Economics and International Business. Assistant Clinical Professor. Education and human capital.
Christopher A. Laincz, PhD (Duke University) Department of Economics and International Business. Associate Professor. Economic development, technological change, and growth, industrial organization, macroeconomics and monetary economics.
Bijou Yang Lester, PhD (University of Pennsylvania) Department of Economics and International Business. Professor. Behavioral characteristics of shopping on-line, economic issues of electronic commerce, contingent employment and part-time work, the economy and suicide.
Vibhas Madan, PhD (Michigan State University) Head of the Department of Economics and International Business. Professor. International trade theory, applied microeconomics.
Roger A. McCain, PhD (Louisiana State University) Department of Economics and International Business. Professor. Computational economics, game theory.
Irina Murtazashvili, PhD (Michigan state University). Assistant Professor. Applied econometrics.
Maria Olivero, PhD (Duke University) Department of Economics and International Business. Associate Professor. Macroeconomics, international finance.
Eydis Olsen, MA (American University) Department of Economics and International Business. Clinical Associate Professor. Macroeconomics, political economy.
Konstantinos Serfes, PhD (University of Illinois at Champaign-Urbana) Department of Economics and International Business. Associate Professor. Industrial organization; microeconomics.
Mark Stehr, PhD (University of California at Berkeley) Department of Economics and International Business. Associate Professor. Health Economics, public finance, public policy.
Constantinos Syropoulos, PhD (Yale University) Trustee Professor of International Economics, Department of Economics and International Business. Professor. International trade, political economy, applied microeconomics.
Matthew Weinberg, PhD (Princeton University). Assistant Professor. Antitrust and regulation, applied econometrics, industrial organization.
Yoto Yotov, PhD (Boston College). Associate Professor. International trade, applied microeconomics, political economy.

Interdepartmental Faculty

Bruce D. McCullough, PhD (University of Texas) Department of Decision Sciences. Professor. Applied econometrics; reliability of statistical and econometric software; business data mining.

Emeritus Faculty

Edward C. Koziara, PhD (University of Wisconsin) Department of Economics and International Business. Professor Emeritus. Applied micro and macro economics.
Andrew G. Verzilli, PhD (Boston College). Professor Emeritus. Teaching effectiveness in economics; economics and financial history.
Chiou-shuang Yan, PhD (Purdue University). Professor Emeritus. International economics, input-output analysis.
  • Schedule of Classes
  • All Course Descriptions
  • Co-op
  • Academic Advising
  • Admissions
  • Tuition & Fees
LEARN MORE