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Program Requirements

 

It is normally the case that MAE students have completed at least the following before beginning the graduate program: calculus (one year), intermediate microeconomic theory (one term), intermediate macroeconomic theory (one term), and elementary statistics (one term).

Credit Hour Requirement

The MAE Program requires 33 credit hours of graduate work. As a general rule, courses numbered 500 and above are graduate courses. With a few exceptions, 400-level courses in Economics can be taken for graduate credit with no modification.

Required MAE Core Courses (15 credit hours)

The Department of Economics offers five courses that are explicitly for the MAE Program. Students must complete the five core courses with a grade of B- or better. The program is designed for students to take ECON 500, 501 and 503 in the fall semester of their first year, and ECON 502 and 504 in the winter semester of their first year. These courses are only offered once per academic year.

·       ECON 500:  Quantitative Methods  |  3 credits  |  Terms Offered: Fall

·       ECON 501:  Applied Microeconomic Theory  |  3 credits  |  Terms Offered: Fall

·       ECON 502:  Applied Macroeconomic Theory  |  3 credits |  Terms Offered: Winter

·       ECON 503:  Econometrics for Applied Economics I  |  3 credits  |  Terms Offered: Fall

·       ECON 504:  Econometrics for Applied Economics II  |  3 credits  |  Terms Offered: Winter

MAE Core Course Descriptions

Declared Major (6 credit hours)

Students must complete a minimum of six credit hours in a concentrated area of study, and earn a grade of C- or better in all courses making up the major. A major must be declared and approved by the start of the student's final term. This is quite flexible--almost any 2-3 courses relevant to applied economics that are related to one another, and are not being used to satisfy one of the core requirements, can constitute the MAE major, with the approval of the MAE program director.

Elective Courses

The remainder of the MAE requirements will be fulfilled with approved elective courses at the graduate level, within or outside the Economics department. Students must receive a C- or better in elective courses to receive degree credit. As a general rule, courses numbered 500 and above are graduate courses. With a few exceptions, 400-level courses in Economics can be taken for graduate credit with no modification. Students should always check to confirm the status of 400-level courses to determine if the course can be applied to the MAE degree requirements. Students should refer to the “MAE Program Pre-Approved Elective Courses” document. This list of 200+ courses may be used as a guide to elective courses that have been pre-approved to be applied to the MAE program requirements. 

Grade Point Average

Students must have a 3.0 cumulative GPA or higher to receive their MAE degree.

English Language Skills:

International students are strongly encouraged to take a course with the English Language Institute (ELI). Students who take ELI courses report an increased ability to converse in English and a stronger performance in academic classes. These classes are not required and may not be counted for credit toward the MAE degree, however they are beneficial for the success of a student in the program and beyond.

Time to Completion:

Most students complete the degree in three to four semesters.

It is possible to complete the 33 credit hours in two academic semesters, but this is extremely difficult, and not recommended.

Students who need to stay four semesters are often able to complete more than 33 credit hours; although the additional credits beyond 33 are not necessary for the degree, the additional knowledge gained can be very valuable.

International students are required to be registered for a minimum of 8 credit hours in a full term, and apply for the degree when all requirements have been fulfilled. Please refer to the International Center’s website:  http://internationalcenter.umich.edu/immig/

The program is designed for students to take ECON 500, ECON 501 and ECON 503 in the fall semester of their first year and ECON 502 and ECON 504 in the winter semester of their first year. These courses are only offered once per academic year. Thus a typical four-semester schedule might look like this:

FALL SEMESTER 1 WINTER SEMESTER 1 FALL SEMESTER 2 WINTER SEMESTER 2
ECON 500 (3 credits) ECON 502 (3 credits) MAJOR COURSE 2 (3 credits) ELECTIVE (3 credits)
ECON 501 (3 credits) ECON 504 (3 credits) MINOR COURSE (3 credits) ELECTIVE (3 credits)
ECON 503 (3 credits) MAJOR COURSE 1 (3 credits) ELECTIVE (3 credits)