The Program in Policy Economics is a specially designed, intensive program of study leading to a Master of Science degree in Eco-nomics from the University of Illinois at Urbana-Champaign. It

has three primary goals. One is to provide students with a sound foun-dation in economic analysis and quantitative methods beyond what they have acquired during their undergraduate studies. The students will be able to familiarize themselves with varied areas of studies in economics, in a relatively short period of time in comparison to PhD programs.

Second, a complementary mission of the Program is to help interested students acquire the necessary background to pursue a doctorate in eco-nomics. While earning the master’s degree, they learn if the pursuit of a Ph.D. degree is within their reach and suits their purposes. They will also acquire the necessary tools for it.

Third, the Program is intended for promising young administrators in government and private institutions, in both developing countries and advanced industrial countries, who need additional training in the areas of economic analysis and quantitative techniques. These participants, upon completion of the Program, return to their previous positions or similar ones with enlarged opportunities in light of their augmented training in economics and quantitative techniques.

The Program is unique in its flexibility and ability to tailor its offerings to the special needs of students with different objectives. It is also unique in the personal attention it provides our students. The extensive resources of the Department of Economics enable us to offer courses in 12 different areas of specialization including: advanced econometrics, development economics, economic policy, environment and natural resources, health economics, industrial organization, international economics, labor eco-nomics, law and economics, monetary economics, public economics, and urban and regional economics. With such a variety of offerings, we can meet the needs and interests of most students. These courses are taught by our distinguished faculty who have specialized in that area of interest.

In addition to the courses designed especially for this Program (13 in total), students may enroll in other courses offered by the Department of Economics as well as other University departments. This can result in a broader perspective of economic issues and problems than is obtained in programs where classes are made up of Program participants only. Some students take their elective courses outside the Department of Eco-nomics in areas such as Agriculture and Applied Economics, Statistics, Urban Planning, Finance, Accounting, and Business Administration.

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The Program may be completed within one to two years. The minimum length of stay in the Program is one calendar year (fall and spring semesters plus one summer session). Students

with an excellent background in economics and quantitative meth-ods, and a high level of proficiency in English, can complete the Pro-gram in one year. However, students who wish to take advantage of the extensive course offerings at Illinois—to study in additional areas or fields beyond the minimum requirements—may remain in the Program up to two years. The majority of our students stay in the Program for one and one-half years or for two years.

Students have to maintain a “B” average to receive a Master of Sci-ence degree in Economics. The program of study in Policy Econom-ics consists of 40 graduate credit hours of course work. A core of four courses, General Microeconomic Theory (Econ 500), Economic Statistics (Econ 506), Applied Econometrics (Econ 508), and General Macroeconomic Theory (Econ 509), is required of all students in the Program. Beyond the core, students select one field, from the 12 described at the end of this brochure (pages 16-17), in which they wish to concentrate their work in economics. At least two gradu-ate credit courses must be completed in the selected specialization. Four additional graduate credit courses complete the 40 graduate credit hours. Two of these must be taken in economics and an ad-ditional two courses may be in economics or in areas outside of but related to economics. These courses may serve to provide one or two additional areas of specialization. More details are given at the end of the brochure.

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Required course work is further enriched in the following ways:

• The Program has a full-time academic advisor always avail-able to sit down with the students and help them design, and continually revise if necessary, a course of study that meets the specific needs and objectives of that individual. This personal attention is a very important part of the Program.

• In addition to the full-time academic advisor, the Program has three assistant instructors who are available every working day of the week to help our students with their academic questions. They also run weekly tutorial sessions.

• Before the start of the fall semester, all students attend the MSPE orientation. During this period the Program’s staff help students to orient themselves to the University and Urbana-Champaign. As part of orientation, the Program offers an in-tensive course in calculus and optimization. This course, which may continue into the semester, helps bring students up to par on mathematical techniques that will be used in their courses.

• A number of times during the year, participants are offered the opportunity to go on field trips to observe the operation of fi-nancial institutions, commodity exchanges, marketing facilities for basic commodities, modern industrial production facilities, and government agencies concerned with regional and interna-tional development.

• A number of outstanding, internationally-known speakers are brought in each year to present seminars and lectures.

• A number of group activities, such as dinners and picnics, sup-plement the academic program.

• Program staff members are always available to help students orient themselves to Champaign-Urbana and to graduate study at the University of Illinois.

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APPlicants must have a Bachelor’s degree or its equivalent with a “B” or better grade point average from an accredited college or university. Applicants from non-English-speak-

ing countries must score at least 550 (PBT), 213 (CBT) or 79 (iBT) on the Test of English as a Foreign Language (TOEFL) or a minimum score of 6.5 with a score of 6 or higher in all sub-sections on the IELTS academic exam before beginning study in the Program. The Graduate Record Exam (GRE) is not a requirement, but applicants are encouraged to take this test and submit the results (quantitative, verbal, analytical) to us.

All international students entering the University with a TOEFL score of 550–610 (PBT), 213–253 (CBT) or 79–102 (iBT), or an IELTS academic score of 6.5 with a score of 6 or higher in all sub-sections will have a “conditional status” and must take an English place-ment test after they arrive. Depending on their performance on this test, students may be required to enroll in noncredit English as a Second Language (ESL) course(s).

The TOEFL is available in three formats: paper-based (PBT), com-puter-based (CBT) and Internet-based (iBT). For complete informa-tion about the form in which the examination is administered in your particular country and test dates, check out the TOEFL website at www.toefl.org.

2013-2014

MSPE Orientation: August 19-25, 2013+

Fall Term: August 26-December 20, 2013

Spring Term: January 21-May 18, 2014

Summer Session 2: June 16-August 9, 2014

2014-2015

MSPE Orientation: August 18-August 24, 2014+

Fall Term: August 25-December 19, 2014

Spring Term: January 20-May 17, 2015

Summer Session 2: June 15-August 8, 2015

Attendance is required in your first year only.+

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To register for any format of the TOEFL, you must obtain a copy of the appropriate Information Bulletin, which contains the required registra-tion form and other general information. The Bulletin can be ordered online or downloaded from the TOEFL website (listed in the preced-ing paragraph). The Bulletin is also available at U.S. educational com-missions and foundations, USIS offices, binational centers, and private organizations.

Applicants wishing to take the IELTS academic exam should go to www.ielts.org for further information on the academic exam.

Applicants interested in fall 2013 admission should take the TOEFL be-fore February 2013.

Students are admitted specifically to the Policy Economics Program and are discouraged from transferring to other programs or departments in the University until they have completed all requirements for the Master of Science degree in Economics. No student will be allowed to transfer to another Department prior to at least spending one full semester in the Program.

Aerial view of the University of Illinois Quad.

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The tuition and fees for the Program are listed in the enclosure. The figures for fall and spring semesters are fixed and are not pro-rated on the basis of credit-hours taken, activities

participated in, or any other criterion. No financial aid from the University of Illinois is available for students in this special Mas-ter’s Program. Program enrichment fees include the cost of visiting lecturers, transportation and overnight lodging on field trips, tutor-ing, upkeep of the students’ lounge, dinners and picnics, and the cost of the special classes such as the intensive mathematics course.

Students with a strong academic background, English fluency, and high GRE scores may be allowed to choose the “Ph.D. track.” The determination takes place after the student’s arrival

on Campus, upon discussion with the Program’s Academic Advisor and approval by the Director of the Program. The track consists of taking certain MSPE courses in the first year and excelling in them, followed by taking Ph.D. courses in the second year. The details are provided during the orientation period.

Ph.D. Track

Program Costs

Campus Quad with Foellinger Auditorium in the background.6

Applications

To ensure prompt application processing, we encourage you to ap-ply online at www.grad.illinois.edu/admissions/apply. Applying online offers several advantages, one of which is the ability to pay

the application fee by credit card. If you apply online, do not send a paper application. If you are unable to apply online, paper application materials may be downloaded or are available from the Department of Economics, 205 David Kinley Hall, 1407 West Gregory Drive, Urbana, IL 61801. Applications for admission are reviewed as soon as all required materials are received. These include: an application and fee; official transcript(s) (translated if not in English) from all universities and colleges attended; three letters of recommendation; and, if from a non-English-speaking country, scores on the Test of English as a Foreign Language (TOEFL) or IELTS academic exam.

The Program admits students only for the fall semester. The deadline for receipt of completed applications for fall 2013 consideration is May 1, 2013. The Program is typically full by April 1, so applicants are urged to apply as soon as possible.

The Department welcomes inquiries on any information listed in the brochure or on points not covered here. Inquiries should be addressed to: Master’s Program 205 David Kinley Hall 1407 W. Gregory Dr. Urbana, IL 61801

The Department phone number is 217-333-7651 and the fax number is 217-244-7368. The email address is mspe@illinois.edu and the website address is www.mspe.illinois.edu. Visits to the Department are also encouraged.

Students outside David Kinley Hall.

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The facilities of the McKinley Health Center on the University campus are available without additional cost to students in the Program. Information about the McKinley Health Center can be

found at www.mckinley.illinois.edu. Participants are also covered by a student health insurance plan beginning August 21, 2013. Health insur-ance can be purchased from the University for family members accom-panying a student. Information about the University’s student health insurance can be found at www.si.illinois.edu.

Health Services

Students in the Program can reside in University graduate student dormitories, which serve meals and are within walking distance of the classrooms used by the Department in Wohlers Hall and David

Kinley Hall. Program participants accompanied by their spouse and/or children can live in University family housing. Alternatively, participants may rent private apartments or rooms. Whatever the choice of housing, Program staff will help participants arrange accommodations during their stay in the Program. Estimated costs of housing and other living expenses are listed in the enclosure. This estimate does not include the cost of bringing family members, nor the cost of transportation to Champaign-Urbana.

Information and/or applications for family and graduate housing can be found online under Future Residents at www.housing.illinois.edu.

The University of Illinois

S ince its founding in 1867, the University of Illinois at Urbana–Cham-paign has steadily gained in stature and is recognized as one of the leading universities in the world. The University is known

primarily for its achievements in research and graduate studies. The University library has the largest public university collection in the world.

Another prime indicator of the campus’ excellence is the success of its alumni. Eleven alumni have won Nobel prizes for the United States and another 18 have won the Pulitzer Prize.

The campus is a major Midwestern center for the arts. The Krannert Center for the Performing Arts offers theater, concerts, and ballet. The University’s Krannert Art Museum and Kinkead Pavilion is second only to the Art Insti-tute of Chicago among Illinois public museums in size and value of collection.

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Students work and socialize in the lounge.

Illinois has impressive, state-of-the-art recreation facilities that encourage physical activity and promote health and wellness programs. The Activities & Recreation Center is one of the country’s

largest on-campus recreation centers. Features include indoor and outdoor pools, a climbing wall, ultra-modern exercise equipment, multiple gyms, personal trainers, cooking classes, and wellness classes.

The Campus Recreation Center East (CRCE) is a smaller recreation center on the east side of campus, offering an alternative location for recreational activity. CRCE features an Aquatic Center (with a pool, water slide, and hot tub), ultra-modern exercise equipment, multiple gyms, racquetball courts, wellness classes, and personal training.

Campus Recreation also offers many different programs and activities for its students to participate in. More information about these programs as well as all of the campus recreation facilities can be found online at www.admissions.illinois.edu/campuslife/recreation.html.

Athletic Facilities

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The fall semester begins with a get-acquainted picnic for students and their families, faculty, and staff. Photo by Lou McClellan

Economics FacultyProfessors

Werner Baer Ph.D., Harvard, 1958; Development, Interna-tional Economics.

Anil K. Bera Ph.D., Australian National University, 1982; Econometrics.

Dan Bernhardt Ph.D., Carnegie Mellon, 1986; Economic Theory, Industrial Organization, Banking.

In-Koo Cho Ph.D., Princeton, 1986; Microeconomics.

George Deltas Ph.D., Yale, 1995; Microeconomics, Indus-trial Organization.

Hadi S. Esfahani Ph.D., U.C. Berkeley, 1984; Economic Devel-opment, International Trade.

Firouz Gahvari Ph.D., University of California in Los Ange-

les, 1981; Public Economics.

Fred M. Gottheil Ph.D., Duke, 1959; Comparative Economic Systems, Middle East Economics, History of Economic Thought.

Roger W. Koenker Ph.D., Michigan, 1974; Econometric Theory and Applications, Industrial Organization.

Stefan Krasa Ph.D., University of Vienna, 1987; Microeco-nomics.

*Daniel McMillen Ph.D., Northwestern, 1987; Urban Econom-ics, Applied Econometrics; Joint Appoint-ment with Institute of Government and Public Affairs.

Martin Perry Head of Department; Ph.D., Stanford Uni-versity, 1976; J.D., Rutgers University, 1984; Microeconomics; Industrial Organization.

Mattias Polborn Ph.D., Munich, 1998; Political Economy.

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Anne P. Villamil Ph.D., Minnesota, 1988; Monetary Economics.

Steven R. Williams Ph.D., Northwestern, 1982; Microeconomic Theory, Mathematical Economics.

Associate Professors

Seung-Hyun Hong Ph.D., Stanford, 2005; Industrial Organization.

*Darren Lubotsky Ph.D., U.C. Berkeley, 2000; Labor Economics.

Stephen L. Parente Ph.D., Minnesota, 1990; Macroeconomics, Devel-opment and Growth.

*Elizabeth Powers Ph.D., Pennsylvania, 1994; Labor Economics.

Assistant Professors

Richard Akresh Ph.D., Yale, 2004; Economic Development.

*Kristine Brown Ph.D., U.C. Berkeley, 2007; Labor Economics.

Daniel Dias Ph.D., UCLA, 2010; International Trade, Interna-tional Finance.

*Ron Laschever Ph.D., Northwestern, 2007; Labor Economics, Ap-plied Econometrics.

Clinical Professors

Joseph Petry Ph.D., University of Illinois, 1991; Statistics.

Colleen Schultz Ph.D., University of Illinois, 1998; Industrial Organization, Health, Law and Economics.

Ali Toossi Ph.D., University of Illinois, 2002; Econometrics, Industrial Organization, Political Economy.

Jose Vazquez Ph.D., Rensselaer Polytechnic Institute, 2001; Environmental Economics.

* Joint appointment in other departments or institutes in the University.

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Lecturers

Hassan Arvin-Rad Ph.D., University of Pennsylvania, 1990; Economics Theory, Applied Econometrics, Applied Macro/Microeconomics.

Isaac DiIanni Ph.D., George Mason University, 2007; Economic Education, Law and Economics, Public Economics.

Zaruhi Sahakyan Ph.D., University of Illinois, 2008; Microeco-nomic Theory, Political Economy of Immi-gration.

Emeritus Faculty

Richard J. Arnould Ph.D., Iowa State, 1968; Industrial Organiza-tion, Government Regulation of Business.

Marianne Ferber Ph.D., University of Chicago, 1954; Gender and the Labor Force.

J. Fred Giertz Ph.D., Northwestern, 1970; Public Finance and Public Choice; Joint Appointment with Institute of Government and Public Affairs.

Wallace Hendricks Ph.D., U.C. Berkeley, 1973; Labor Economics, Economics of Regulation.

Ralph D. Husby Ph.D., Cornell, 1969; Economics of Poverty,

Public Finance. Jane H. Leuthold Ph.D., Wisconsin, 1968; Public Finance, Envi-

ronmental Economics, Economics of Poverty.

Walter W. Ph.D., Iowa, 1957; Economics of Education, McMahon Health, and Human Capital,

Macroeconomics.

Larry D. Neal Ph.D., U.C. Berkeley, 1968; Economic History.

Salim Rashid Ph.D., Yale, 1976; Microeconomic Theory, History of Economic Thought, Mathematical Economics.

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Robert W. Resek Ph.D., Harvard, 1961; Econometrics.

Wayne Shafer Ph.D., U.C. Santa Barbara, 1972; Microeconomics.

Franklin R. Shupp Ph.D., Princeton, 1960; Macroeconomic Theory and Policy.

Case M. Sprenkle Ph.D., Yale, 1960; Monetary Theory, Macroeco-nomic Theory.

Bart Taub Ph.D., Chicago, 1981; Macroeconomics.

Harold F. (Bill) Ph.D., Yale, 1969; Regional Economics. Williamson, Jr.

Nicholas C. Yannelis Ph.D., Rochester, 1983; Mathematical Economics, Game Theory.

Department Affiliates

Jeff Brown Professor of Finance; Ph.D., Massachusetts Insti-tute of Technology, 1999; Social Security Reform and Financing Retirement/Pensions.

Lawrence DeBrock Dean, College of Business; Ph.D., Cornell, 1979; Industrial Organization, Microeconomics.

Don Fullerton Professor of Finance; Ph.D., U.C. Berkeley, 1978; Environmental and Energy Economics and Policy Analysis; Public Economics.

Geoffrey J.D. Professor of Geography; Ph.D., Washington,Hewings 1969; Macroeconomics, Urban and Regional

Planning.

Charles M. Kahn Chair and Professor of Finance; Ph.D., Harvard, 1981; Economics of Information and Uncertainty, Game Theory.

Craig Olson Ph.D., Wisconsin, 1979; Labor Economics; Joint Appointment with Labor and Employment Relations.

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Fields of Specialization and Courses Offered Advanced Econometrics *Econometric Analysis (E 507)

*Time Series Analysis in Econ (E 576)

Development Economics

Development Economics (E 450)

The Latin American Economies (E 452)

Economics of Development and Growth (E 550)

Topics in Development Economics (E 551)

Economic Policy

Public Goods Theory (E 511) OR Economics of Taxation (E 512)

Computable G E Modeling (E 552)

Environment and Natural Resources

Environment and Development (ACE 411)

Dynamic Simulation of Natural Resource Problems (E 415)

Advanced Natural Resource Economics (ACE 510)

Environmental Economics (ACE 516)

Health Economics

Industrial Competition and Monopoly (E 480)

Health Economics (E 482)

Economics of Education, Health, and Human Capital (E 545)

Industrial Organization

Industrial Competition and Monopoly (E 480)

Government Regulation of Economic Activity (E 481)

Law and Economics (E 484)

International Economics

International Economics (E 420/E 523)

Contemporary Issues in the International Economy (E 421)

International Trade Theory (E 520)

International Financial Economics (E 522)

Labor Economics

Economics of Labor Markets (E 440)

*Labor Economics I (E 540)

Labor Economics II (E 541)

Collective Bargaining (E 542)

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Law and Economics Law and Economics (E 484)

Intro to United States Law (LAW 501)

Quantitative Methods (LAW 641)

International Trade Policy (LAW 654)

Law and Economics (LAW 689)

Monetary Economics

Monetary Theory (E 563)

The Theory of Monetary Policy (E 564)

Public Economics Public Goods Theory (E 511)

Economics of Taxation (E 512)

Urban and Regional Economics

Urban Economics (E 414)

Regional Science Methods (UP 556)

Seminar in Regional Science (UP 557)

An MSPE classroom.

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* Only students who take the Ph.D. section of ECON 506 may take these courses.

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Graduation dinner.

1. The minimum length of stay in the Program is one calendar year (fall and spring semesters plus one summer session).

2. Minimum number of graduate credit hours to be taken while in Program: 40.

3. All students must take ECON 500 and ECON 506 in their first semester of the Program, and ECON 508 in the second semester. ECON 509 can be taken in either the first or second semester.

4. A minimum of two courses, with at least one 500-level course (unless not offered), is required for a field specialization.

5. Minimum grade-point average of B (3.0) must be maintained.6. The minimum semester load (including ESL courses) is 12 credit hours; the

maximum semester load (including ESL courses) in fall and spring is 16 credit hours, summer is 8 credit hours. Any course load beyond these must have the Director's approval and/or sponsor and Office of International Students approval.

7. No more than two courses can be taken at the 400 level to satisfy course requirements, unless approved by the Director of the Program.

8. If both Ph.D. and Master’s sections of the same course is taken, only one will be counted towards the degree requirements of the Program.

9. All courses taken from outside the Department of Economics must be ap-proved by the Director, if they are to be counted towards the degree require-ments of the Program.

10. All independent study courses must be approved by the Director, if they are to be counted towards the degree requirements of the Program.

11. The same course cannot be taken at both 400 and 500 levels to satisfy the Program requirements (e.g., 450 and 550, 414 and 514, etc.).

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Program Requirements

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Program AddressPlease direct any inquiries to:

Master’s Program Department of Economics College of Liberal Arts and Sciences University of Illinois at Urbana-Champaign 205 David Kinley Hall 1407 West Gregory Drive Urbana, IL 61801

Phone: 217-333-7651 Fax: 217-244-7368 mspe@illinois.edu

www.mspe.illinois.edu

Master of Science in Policy Economics staff.

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