The graduate program in economics is designed to prepare students for careers in teaching, research, industry and government. The department emphasizes economic theory and econometrics; applied economic analysis, including microeconomics, macroeconomics, international development economics, and urban and regional economics; and political economy, including history of economic thought and comparative economic systems.

Admission Requirements

Prerequisites

The typical applicant for admission will normally have completed an undergraduate major in economics. Minimal prerequisites for admission to a master's degree program include courses in intermediate microeconomic and macroeconomic theory, a year of calculus, and a semester of statistics. Applicants for the Ph.D. program are normally expected to have completed more than the minimum, particularly in the areas of mathematics and statistics.

Criteria

The Graduate Record Examinations General Test, three letters of recommendation and the student's statement of purpose are required. The letters and statement should be sent directly to the Director of Graduate Admissions, Department of Economics, KAP 300, University of Southern California, Los Angeles, CA 90089-0253. International applicants are required to take the TOEFL examination. In addition, applicants for financial aid are advised to take the GRE Economics Subject Test and international students must have a TSE score of 200. Admission is based on the appropriateness and quality of completed course work, GRE scores and the letters of recommendation.

Procedure

Application deadlines are normally April 15 for the fall semester and November 1 for the spring. Completed fellowship and assistantship applications are due by February 1. Except for unusual cases, students are permitted to begin Ph.D. programs only during the fall semester.

Placement Examinations

Prior to registration, all entering graduate students are required to take the Economics Department placement examinations in general economic theory and the basic principles of algebra, calculus and statistics. Depending on the outcome of these examinations, deficiency course work yielding no credit toward graduate degrees may be required. Students whose native language is other than English will be required to take an English placement examination. Course work in English may be required.

Degree Requirements

These degrees are under the jurisdiction of the Graduate School. Refer to the Requirements for Graduation section and the Graduate School section of this catalogue for general regulations. All courses applied toward the degrees must be courses accepted by the Graduate School.

Foreign Language/Research Tool Requirements

There is no foreign language requirement. However, competence in the use of one computer programming language is required for all graduate degrees offered through the Department of Economics, except the Ph.D. in Political Economy and Public Policy. Such competence can be demonstrated either by course work or examination. Students in master's programs must meet this requirement before starting the thesis or taking the comprehensive examination; students in the Ph.D. program must complete it before taking the qualifying examination.

Master of Arts in Economics

Thesis Option

At least 24 units (usually six courses; at least four must be in economics at the graduate level) including 513 or 417 and 511; 500 or 503; and 501 or 505, and completion of an acceptable thesis accompanied by registration in 594ab is required.

Comprehensive Examination Option

At least 32 units (usually eight courses; at least six must be in economics at the graduate level) including 513 or 417 and 511; 500 or 503; 501 or 505; and satisfactory performance on a comprehensive examination in economic theory is required. Not more than four units may be 590 Directed Research; 590 units cannot be counted as part of the required minimum of graduate level economics courses specified above.

Master of Arts in Economic Developmental Programming

This degree program is designed to provide advanced training in the basic tools of development programming and their application to practical problems of developing countries. The program is structured to enable well-prepared students entering in May to finish the following summer. Requirements include the following courses in economics: ECON 500 or 503; 501 or 505; 401; either 513 or 417 and 511; 502 or 506 or 607 or 615; 523 or 534 or 537 or 541 or 644; 650 or 651; 590 or 692; and a total of three courses in one of several designated options in economics, international relations, law, urban planning and development, demography, or business administration. In certain cases units can be granted for internship work. The total unit requirements are 32-48, including a comprehensive examination or a thesis.

For a detailed description of the program and its requirements see Master of Arts in Economic Developmental Programming, available from the Department of Economics faculty advisor.

Dual Master of Arts in Economics and Juris Doctor

The Law School and the Department of Economics jointly offer a three-year program leading to the J.D. and M.A. degrees. Applicants must apply to both the Law School and the Graduate School and meet requirements for admission to both. Work toward the M.A. degree normally begins during the student's second year of residence.

Required economics courses include 500, 501 and two others at the graduate level. Students are required to complete 89 units of law and economics course work, four units of which must constitute a thesis acceptable to the faculties of the Law School and the Department of Economics. For a detailed description of this program, consult the Law School section of this catalogue.

Dual Master of Arts in Economics and Master of Planning

The School of Urban Planning and Development and the Department of Economics jointly offer a two-year program leading to the M.Pl. and M.A. degrees. Applicants must apply to the School of Urban Planning and Development and the Graduate School and meet the admission requirements of both.

Requirements

Requirements for completion of the dual degree programs are 56 units, including 20 units in economics and 36 units in planning, as follows:

Economics		Units
ECON 500	Microeconomic Analysis and Policy	4
ECON 501	Macroeconomic Analysis and Policy	4
ECON 513	The Practice of Econometrics	4

Electives: eight units in economics

Urban and Regional Planning		Units
PLUS 501	Planning Theory	2
PLUS 505	Comparative International Development	2
PLUS 506	The Social Context of Planning	2
PLUS 509	Legal Environment of Planning	2
PLUS 510	Historical Analysis of Urban Form and Planning Practice	2

Laboratory/Workshops: PLUS 676L (4 or 8) to total eight units.

Electives:14 units of electives taken within the School of Urban Planning and Development.

Thesis:A thesis is required on a subject interrelating economics and urban planning and development. Students must register in a minimum of four units of PLUS 594abz (2,2,0) and maintain continuous registration until completion of the thesis.

During the summer after the first year of graduate study, the student normally serves an internship in a planning organization. The student must complete a thesis acceptable to both faculties.

Doctor of Philosophy in Economics

The Ph.D. in Economics requires 60 units of graduate level courses numbered 500 or higher (excluding ECON 500, 50l, 590, 690, 691, 692, 693, 694, 790 and 794), plus a minimum of six units among 690, 691, 692, 693, 694, and a minimum of four units of 794.

Every student must take ECON 503, 505, 511, 603, 605 and 615 within the first 36 units of graduate level courses. Students must take a core theory examination immediately after the completion of ECON 503, 505, 603 and 605 in order to continue in the Ph.D. program. There is also a breadth requirement which may be satisfied by taking either ECON 523 or 527.

After passing the core theory examination, the student should consult the director of graduate studies on the appointment of a Ph.D. guidance committee. The student should complete two advanced fields of study with the approval of the guidance committee and the director of graduate studies. The requirements for completing each advanced field of study consists of (1) at least two courses numbered 600 or higher in that field with a minimum grade of A- in each, (2) satisfactory completion of one of the seminars related to the field and (3) presentation of a paper in a class or seminar. The signing of the student's Permission to Take the Qualifying Examination form will signify the satisfactory completion of the field requirements.

The remainder of the courses to total 60 units must be preapproved by the guidance committee. However, not more than four units of ECON 590 and/or 790 can be taken in each semester. Courses taken outside the department or USC cannot count toward the completion of a field and are not allowed before at least one advanced field is completed. Waivers to the course requirements based on equivalent work at another university may be made upon petition to the director of graduate studies. Waivers for any other reason require the approval of the department graduate committee.

Grade Point Average Requirements

In addition to the Graduate School requirements, a minimum GPA of 3.0 on all course work taken toward the 60 units requirement must be achieved. ECON 615 or a higher level course in econometrics must be completed with a grade of B or better.

Screening Procedure

Students desiring the Ph.D. must undergo a screening procedure before completing more than 24 units of graduate level courses. The process involves a review of the student's course grades, performance on the core theory examination, and demonstrated research ability. Students who pass the screening procedure are permitted to continue studies toward the Ph.D. degree.

Core Theory Examination

Before beginning the third semester of graduate study, the student must pass a written examination in general economic theory including applications. A maximum of two attempts is allowed. Not taking the examination at a given due time is considered as failing the examination once. The core theory examination is offered twice every year, in mid-June and at the end of August, before classes start. Any exceptions are subject to approval of the director of graduate studies.

Computer Programming Requirement

Competence in the use of one computer programming language must be demonstrated before the student takes the qualifying examination. The requirement may be met by satisfactory completion of a course at least as advanced as ITP 108 at USC or a statement by a designated faculty member attesting to the student's literacy.

Seminar Requirements

Every student is required to take and satisfactorily complete three, two-unit research seminars chosen from ECON 690, 691, 692, 693 and 694. The same seminar may be taken more than once. Before completing the dissertation, the student must present at least one original research paper in a seminar of the student's choice.

Dissertation Proposal Preparation

The student is required to write a research proposal on a topic suitable for a dissertation. Normally, the chair of the student's guidance committee directs this work. The written proposal is presented and critiqued during the qualifying examination.

Qualifying Examination

Upon successful completion of course and grade requirements, the computer programming requirement, and the core theory examination, the student takes an examination, which focuses on the presentation and defense of the written dissertation proposal. After passing this examination, the student is admitted to candidacy for the Ph.D. degree.

Doctoral Dissertation

After admission to candidacy, the student forms a dissertation committee composed of three faculty members, one of whom must be from an outside department. The chair of this committee is the dissertation supervisor. The student must register in sequence for ECON 794abcdz Doctoral Dissertation each semester, excluding summer sessions, until the dissertation and all other degree requirements are completed.

The dissertation is defended in an oral examination administered by the dissertation committee when the committee agrees that the student has completed the research and a satisfactory draft of the dissertation has been written. If the committee agrees to pass the student, all suggested extensions, modifications, and corrections are incorporated into a final draft which must be approved by all members of the committee.

It is the student's responsibility to see that the proper paperwork is submitted to the Graduate School upon completion of each requirement for the Ph.D. degree.

Doctor of Philosophy in Pharmaceutical Economics and Policy

The Department of Economics and the Department of Pharmaceutical Economics and Policy (School of Pharmacy) jointly offer a program of study leading to the Ph.D. degree and to the M.A. degree in the process of work toward the Ph.D. degree. Applicants must apply to the Graduate School and meet the admissions requirements of both academic units.

Required courses include both core requirements and area requirements. Core requirements include courses in economic theory, econometrics, and research methods. Area requirements include courses in health economics, pharmaceutical economics, welfare theory and applied econometrics.

For a detailed description of this program, see the School of Pharmacy section.

Doctor of Philosophy in Political Economy and Public Policy

The Department of Economics, the Department of Political Science and the School of International Relations jointly offer a program of study leading to the Ph.D. degree and to the M.A. degree in the process of work toward the Ph.D. degree. Applicants must apply to the Graduate School and meet the admission requirements of all three academic units.

Required courses include both core requirements and area requirements. Core requirements include courses in economic theory and history of economic theory; history of political thought; scope, methodology and research methods; and political economy and public policy. Area requirements include courses selected from the following three areas of concentration: comparative and developmental political economy; politics, economics and the policy process; and international political economics. There is no computer programming requirement for this degree.

For a detailed description of this program, see the Political Economy and Public Policy section of this catalogue.

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