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 Managerial Economics (ECON 332) OR
• Fundamentals of Economic Theory (ECON 509), an accelerated intermediate theory course, will satisfy this prerequisite but cannot be counted in the degree.

Calculus and Statistics

Students will complete a mathematics placement exam prior to enrolling in the required Mathematical Techniques course required for graduation. This exam is based upon material covered in the following prerequisite courses:

• Math 137 or an equivalent course in calculus
• STAT 171 or an equivalent course in statistics OR
• Economic Problem Solving (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. 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 30 semester hour (sh) program consisting of 18 sh of core courses. These courses are 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 plan.  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 (Internship) and 9 s.h. of elective coursework (at least 3 s.h. of electives must be from Economics (ECON)). 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 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 of graduate “tracks” 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. We have an Economics Help Lab with computers and reference materials available for graduate students. 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.

Well-prepared students can complete the program in one calendar year. 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 preferred, 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 Economics Help Lab and assisting faculty with research projects— both of which are good practice for those interested in an academic career. Finally, we have an established record of placing our graduates in internships, jobs, and 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,

Shankar Ghimire
Associate Professor and Graduate Adviser for the MS in Quantitative Economics
SP-Ghimire@wiu.edu