Admission Requirements

Applicants must meet the general admission requirements of the School of Graduate Studies. An undergraduate degree in Economics is NOT required for admission. Majors in Mathematics and Statistics have done particularly well, but students with a variety of undergraduate majors have also been successful and have become some of our most notable and supportive alumni. The GRE is not required for regular admission, but the following prerequisites are:

Principles of Economics

• Principles of Macroeconomics (ECON 231) and Principles of Microeconomics (ECON 232) OR
• Economic Theory for Decision Makers (ECON 408G), an accelerated principles course, will satisfy this prerequisite but cannot be counted in the degree.

Intermediate Economic Theory

• Intermediate Macroeconomics (ECON 331) and either Intermediate Microeconomic Theory (ECON 330 or ECON 332) 
• Fundamentals of Economic Theory (ECON 509), an accelerated intermediate theory course, will satisfy this prerequisite.

Calculus and Statistics

Students will require:

• Math 137 or an equivalent course in calculus; linear algebra and a second course in calculus are recommended.
• STAT 171 or an equivalent course in statistics OR
• Economic Problem Solving (e.g., ECON 381) may be used to satisfy the calculus and statistics requirements but does not count toward the degree.

The prerequisites may be satisfied by passing a proficiency examination a the discretion of the department. If you have not completed the prerequisites, you may be eligible for conditional admission. Any remaining prerequisites can be taken during your first semester.

Degree Requirements

The Master of Science (MS) in Quantitative Economics degree program is a 33-semester hour (sh) program consisting of 21 sh of core courses. These courses are Fundamentals of Economic Theory (ECON509), Mathematical Techniques (ECON 581), Macroeconomic Theory and Policy (ECON 500), Price Theory (ECON 504), and Econometrics I (ECON 506), Econometrics II (Econ 507), DS 490G (Statistical Software for Data Management and Decision Making).  Students can select from a variety of courses to complete their degree plans.  There are three exit options: (1) thesis, (2) internship, (3) non-thesis.  The thesis option requires Econ 600 (Thesis Research), Econ 601 (Thesis), and 6 s.h. of electives.  The internship option requires Econ 599 (approved Internship) and 9 s.h. of elective coursework (at least 3 s.h. of electives must be from Economics with the ECON prefix). The "all coursework" option requires 12 s.h. of approved electives in which at least 6 s.h. are from Economics (ECON).  All students, regardless of exit option, are also required to complete two semesters of Department seminar (ECON 602, 0 s.h.) and complete the exit examination in their final semester (ECON 603, 0 s.h.).

A Message from the Program Coordinator and Graduate Advisor

Dear Graduate Applicant,

Thank you for your interest in the Economics and Decision Sciences Graduate Programs at Western Illinois University. Our programs are well-suited to students who are looking to enhance their career potential in the field of economics as well as to students who are thinking about going on for a Ph.D. in economics. Our unique system allows you to select a course of study that fits your goals while the core courses ensure that you are trained in the fundamentals of graduate-level economics.

Our graduate faculty are committed to excellence in training economists. Graduate class sizes are typically small—many in the range of 8 to 15 students—providing an excellent environment for learning. Our graduate curriculum gives careful attention to both theory and practice. This balance is the key to modern economics.

Our facilities are another feature of the program. Nearly all the graduate courses in economics are in the same building, Stipes Hall. Computers in the building have a variety of software packages, including SAS, SPSS, Stata, and Mathematica. A “cyber-café” on the first floor, aptly named “Dividends,” is a great place for individual conversations over a cup of coffee. The Leslie F. Malpass Library is next door, providing a convenient place for group and individual study.

Students without an undergraduate background in economics are required to complete intermediate-level undergraduate courses before enrolling in the graduate core. At least a year of calculus is strongly advised, though all students, regardless of their level of math preparation, are encouraged to enroll in our mathematical techniques course during their first semester. Visit the School of Graduate Studies for more on admission requirements.

Financial assistance in the form of graduate assistantships is available on a competitive basis to qualified students. Assistantship duties include staffing the School office, helping in the classroom, and assisting faculty with research projects — all of which are good practices for those interested in an academic career. Finally, we have an established record of placing our graduates in internships, jobs, and ranked Ph.D. programs.

If you have any questions about the program, please send me an e-mail. We look forward to hearing from you.

Sincerely,

Dr. J. Jobu Babin
Associate Professor and Graduate Adviser, MS in Quantitative Economics
JJ-Babin@wiu.edu

Assistantship Opportunities

We offer a limited number of graduate assistantships, which are awarded on a highly competitive basis. The awards range from two-thirds time (requiring 13 hours of work per week) to full-time (requiring 20 hours of work per week). Both awards carry full tuition waivers for multiple semesters and a summer term, as well as a stipend for two semesters, contingent on maintaining a 3.0 GPA and satisfactory academic progress. Students work for the School of AFED as well as assisting faculty with courses and research.

Assistantship recipients must satisfy all of the admissions prerequisites without any deficiencies. To be eligible for an assistantship, entering graduate students must have a cumulative undergraduate GPA of at least 3.0 and remain in good academic standing.

Apply: https://form.jotform.com/jllin/afed-assistantship-application