FAS - Economics

The Department of Economics offers a PhD degree program. While the department does not offer a master's program, continuing students or students dismissed from the PhD program can apply for a Master of Arts degree.

The department offers a broad range of research opportunities for graduate students. Members of the department are engaged in a wide variety of research projects; currently, strength is greatest in the following fields:

Workshops in the fields provide opportunities for experience with research in the early stage of the graduate program. Workshops typically include two or more faculty members and meet in either the Fall or Spring Term. Students are expected to complete much of their field study and research in the workshops.

Virtually all English-language publications in economics are received by the University libraries.

In addition to the training and instruction provided by the department, students may take courses in other departments, and faculty members from other units of the University are available to serve on thesis or dissertation committees within the Department of Economics. In addition, students may elect courses at Carnegie Mellon University. Students working for a graduate degree in economics may simultaneously earn a certificate in the Asian, Latin American, Russian and East European, or West European Area Studies programs (see certificate descriptions in the University Center for International Studies section of this bulletin).

The department makes available a handbook for graduate students in economics at the start of the academic year. This handbook contains information about rules and procedures that modify and/or clarify the rules and procedures as described in this bulletin.

Contact Information

Department Chair: Jean-FranÁois Richard

Main Office: 4S01 Posvar Hall

Phone: (412) 648-1760

Fax: (412) 648-1793

Web site: http://www.pitt.edu/~econdept/

For additional information about degree programs, course offerings and descriptions, please contact the Department of Economics; 4S26 Posvar Hall; University of Pittsburgh; Pittsburgh, PA 15260.

Admissions

For admission to full graduate status, an applicant must have a bachelor's degree from a recognized college or university and a B or better average in the undergraduate program. All applicants must provide scores on the verbal, quantitative, and analytical Graduate Record Examination (GRE); the GRE advanced test in economics will be helpful for those applicants with a BA, BS, or MA in economics. The Test of English as a Foreign Language (TOEFL) is required if the applicant's native language is not English; this applies where English is not the native language even if English has been the medium of instruction.

For admission to the Department of Economics, an undergraduate major in economics may be helpful but is not required. Knowledge of intermediate microeconomic and macroeconomic theory is strongly advised. The PhD core courses assume a minimum of two terms of calculus and one term of matrix algebra.

An applicant with less than a B average who presents alternative evidence of superior ability may be admitted to full or provisional graduate status. An applicant who does not meet other requirements may be offered provisional admission provided TOEFL and GRE scores are satisfactory.

Because of the scheduling of courses, students are normally admitted only for the Fall Term. The completed application should be received by the Department of Economics no later than February 1, if admission is sought for September. In exceptional cases, applications will be accepted for admission until April 1. Under no circumstances will applications be accepted after April 1.

Financial Assistance

The department generally offers financial support beginning with the first year of graduate study. All assistantships and fellowships offer full tuition scholarships as well as a stipend, and most include medical coverage. Pittsburgh's low housing rates also contribute to the value of a University fellowship. Most financial aid takes the form of teaching assistantships or teaching fellowships. The practice of the department has been to give a student an initial appointment as a TA, and to change this appointment to a TF at the beginning of the term following the passing of both theory examinations. For a student who passes both of these examinations at the end of June of their first year of graduate study, the appointment as a TF would thus begin in the Fall Term.

Requirements for the Master's Degree

The department does not offer a master's program. However, continuing students or students dismissed from the PhD program can apply for a master's degree under conditions described in the department's handbook for graduate students.

Requirements for the PhD Degree

The PhD program of the department has three goals: to advance economic knowledge through an intensive and balanced research program, to develop the research skills essential to independent study of current economic problems, and to provide the training needed for effective teaching of economics.

The following requirements specific to economics should be read in conjunction with the general PhD requirements for all FAS students. (See Requirements for the PhD Degree and Regulations Pertaining to Doctoral Degrees.)

Required Courses

The following courses must be completed:

Theory Courses

ECON 2100 Advanced Micro Theory 1

ECON 2110 Advanced Macro Theory 1

ECON 2120 Advanced Micro Theory 2

ECON 2130 Advanced Macro Theory 2

Econometrics Courses

ECON 2020 Introduction to Econometrics

ECON 2150 General Econometrics

A minimum grade of B is required in both courses.

Mathematics Courses

ECON 2010 Mathematical Methods of Analysis

Students with strong math backgrounds can petition the Graduate Committee for exemption from this requirement.

Advanced calculus, differential equations, linear algebra, one term of matrix algebra, and a course in probability and statistics are prerequisites for the above course requirements.

The above, required courses are generally completed in the first two terms of study.

Minimum Credit Requirement

Students must complete at least 72 credits in course, seminar, and independent and directed study at the 1000 (not all 1000-level courses carry graduate credit), 2000, and 3000 levels. Some of these may be transfer credits.

In addition to completing the courses listed under Required Courses above, each full-time student must complete 18 credits of elective graded courses in the second year and 12 credits in graded course work in the third year.

Examinations

Students pursuing the PhD must complete the Preliminary and Comprehensive Exams as detailed below:

PhD Preliminary Exam

The PhD Preliminary Theory exam consists of a four-hour exam in Microeconomic Theory and a four-hour exam in Macroeconomic Theory. The University's PhD preliminary examination is a requirement. A student must pass both exams to continue in the program.

In order to take a preliminary exam, students must be registered and have a minimum QPA of 3.00. A student who is deficient in his/her QPA may petition the Graduate Committee for special permission to take the exam.

The exam is to be taken at the end of the Spring Term (late April) of a student's first year as a PhD student. On the first attempt, both parts must be taken during the same exam week. If either or both parts are failed the first time, the relevant part(s) may be retaken during the next examination period (late August). Student are always permitted a second attempt. A student may petition for a third attempt, which will be decided at the discretion of the Graduate Committee. Students who are denied a third attempt and those who do not succeed on the third attempt will be dismissed from the graduate program.

PhD Comprehensive Exam

All students are required to complete an original research paper demonstrating their ability to do research in economics before the start of the third year of study. This research paper serves as their comprehensive exam requirement, and passage is required for continuation in the program. The time line for completion of this paper is as follows:

1. Submission of a research proposal by the end of the second week of April. The proposal should state the problem or "question" the student intends to address as clearly as possible, how the student's work fits into the relevant literature, and what will be the student's original contribution. The proposal should provide as much detail as possible on the methods the student will use to address the problem. The proposal should list two faculty members to supervise the project. These faculty members should be consulted prior to the submission.
2. Faculty acceptance of the proposal by May 1. By accepting the proposal, the two faculty members commit to the responsibility of supervision of the second year paper to completion of the review process. This is not, however, a commitment to supervision of the dissertation.
3. Submission of a complete paper by the close of the final full week of August.
4. Thirty-minute presentations in the graduate student seminar which occurs between the first week of September to mid October. Both advisors should be present, as well as a member of the Graduate Committee.
5. Referee reports by advisors to students by the end of October. At this stage the advisors can recommend passage, revision, or failure. If necessary, the Graduate Committee meets during the first week of November to discuss recommendations of failure.
6. Students asked to revise their projects can resubmit the paper by February 1.
7. Advisors submit pass or failure grades to the Graduate Committee by February 15.

Field Requirements

Students are required to be certified in two fields, a research field and an outside field, that are in separate areas of research. The areas of research include the following:

Each of these fields has a workshop associated with it—ECON 3100, ECON 3110, ECON 3400, ECON 3500, ECON 3520, and ECON 3160, respectively. The list and definition of fields are continually reviewed and subject to change. Students may request permission from the Graduate Committee to substitute another field of economics. In case of substitution, the course work and the principal examiner must be associated with the Department of Economics. Occasionally, PhD students are permitted to substitute an "outside field," prepared, for example, in the Katz Graduate School of Business, the Graduate School of Public and International Affairs, or Industrial Engineering. Permission will not be granted until the student has completed at least one year of graduate study in the Department of Economics.

Research Field

In their third year of study, all students are required to make a public presentation of their research in a workshop. The presentation may be based on the student's second-year research paper.

Outside Field (course work)

The requirements for the second field depend on the field of study. The faculty in each area will determine the requirements for each area and may choose to certify students based on course work and a written paper.

Dissertation Overview

The overview consists of a written statement and oral presentation to the major advisor and tentative doctoral committee on:

a) The general subject of the proposed dissertation

b) The principal bodies of source materials to be used

c) The techniques and methods to be pursued

d) A survey of the literature relevant to the chosen topic

Candidates may appear for the overview only after they have completed all the comprehensive examinations, and other departmental requirements.

Writing of Dissertation and Final Oral Examination

Conducted by the doctoral committee, the final oral examination is primarily the candidate's defense of the dissertation. Although the examination will deal intensively with the dissertation and its significance, it need not be so confined. One copy of the dissertation must be provided to each member of the doctoral committee at least two weeks before the date set for the final oral exam. The exam is open to the public and must be announced at least two weeks in advance.

Course Listings

The course titles suggest the range of topics from which the material for the given term is likely to be selected. The emphasis accorded to any one or more topics may vary with the instructor who is assigned to the course. More complete course descriptions are published prior to each term in the Arts and Sciences Course Descriptions. Some courses are offered infrequently.

ECON 1010 American Economic History 1

ECON 1060 Economic and Business History of the U.S.

ECON 1130 Operations Research Methods in Economic Analysis

ECON 1140 Economic Modeling and Forecasting

ECON 1150 Quantitative Methods 1

ECON 1160 Quantitative Methods 2

ECON 1170 Math for Economists

ECON 1180 Mathematical Economics 1

ECON 1200 Introduction to Game Theory

ECON 1230 Intermediate Public Finance

ECON 1260 Intermediate Micro/Business Economics

ECON 1280 Monetary Theory and Policy

ECON 1300 Introduction to Regional Analysis

ECON 1310 Methods of Regional Analysis

ECON 1320 Urban Economics

ECON 1390 Work, Self, Society

ECON 1400 Theories of Labor Unions

ECON 1410 Collective Bargaining

ECON 1420 Intermediate Labor Market Analysis

ECON 1430 Women at Work

ECON 1440 Economics of Corporate Finance

ECON 1450 Modern Theories of Firm and Market

ECON 1470 Industrial Organization

ECON 1480 Government Regulation of Business

ECON 1500 Intermediate International Trade

ECON 1510 Intermediate International Finance

ECON 1520 Analysis of Economic Systems

ECON 1530 Development Economics

ECON 1540 Theory of Economic Growth

ECON 1560 World of Food Economy and Order

ECON 1590 Peoples and Resources of E. Europe and the U.S.S.R.

ECON 1610 Latin American Development

ECON 1620 Economic Development of Socialist Cuba

ECON 1630 Economic Development of China

ECON 1640 Japanese Economic Growth

ECON 1670 Economies of the U.S.S.R. and East Europe

ECON 1700 Proseminar: Methodology of Economics

ECON 1710 Proseminar: International Economics

ECON 1720 Proseminar: Monetary and Macroeconomics

ECON 1730 Seminar: Experimental Economics

ECON 1905 Special Topics

ECON 1960 Politics and Economics of Public Policy

ECON 2001 Introduction to Mathematical Methods

ECON 2010 Mathematical Method Econ Analysis

ECON 2020 Introduction to Economics

ECON 2100 Advanced Microeconomic Theory 1

ECON 2110 Advanced Macroeconomic Theory 1

ECON 2120 Advanced Microeconomic Theory 2

ECON 2130 Advanced Macroeconomic Theory 2

ECON 2150 General Econometrics

ECON 2160 Econometrics for Practitioners

ECON 2170 Mathematical Economics

ECON 2180 Dynamic Economics 1

ECON 2190 Dynamic Economics 2

ECON 2200 Introduction to Game Theory 1

ECON 2210 Introduction to Game Theory 2

ECON 2220 Topics in Experimental Economics

ECON 2230 Public Finance 1

ECON 2250 Individual Research

ECON 2260 Advanced Econometrics 1

ECON 2270 Advanced Econometrics 2

ECON 2280 Monetary Theory

ECON 2290 Monetary Policy

ECON 2300 Regional Economics

ECON 2320 Urban Economics

ECON 2400 Labor Market Analysis

ECON 2410 Labor Market Analysis

ECON 2470 Theory of Industrial Organization

ECON 2490 Earnings and Employment in the Third World

ECON 2500 International Trade

ECON 2510 International Finance

ECON 2520 Comparative Economic Systems

ECON 2530 Development Economics

ECON 2540 Economic Growth

ECON 2560 World Food Economy

ECON 2570 International Trade Policy

ECON 2700 Special Topics in Economics

ECON 2713 Topics in Macroeconomics

ECON 2720 Comprehensive Research Paper

ECON 2730 Seminar in Experimental Economics

ECON 2770 Comprehensive Preparation

ECON 2900 Advanced Topics in Economics

ECON 2930 Research Seminar: Economy of China

ECON 2990 Independent Study

ECON 3000 PhD Research and Dissertation

ECON 3100 Workshop in Microeconomics

ECON 3110 Workshop in Macroeconomics

ECON 3150 Special Topics in Econometrics

ECON 3160 Workshop in Econometrics

ECON 3170 Seminar in Mathematical Economics

ECON 3200 Seminar in Game Theory

ECON 3400 Workshop in Applied Microeconomics

ECON 3500 Workshop in International Economics

ECON 3520 Workshop in Comparative and Development Economics