ACADEMIC PROGRAM ACTIONS. USC Columbia, Lancaster, Salkehatchie, Sumter & Union campuses

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1 ( ACADEMIC PROGRAM ACTIONS USC Columbia, Lancaster, Salkehatchie, Sumter & Union campuses APA INSTRUCTIONS: This form is used to create, change or terminate an academic program. The form is available online at : August 19, 2014 Campus: :c C-=-o=-=Iu=m=b=-=ia~ College/School: Moore School of Business Department (if applicable}: Economics -=~~~~ Undergraduate ~ Graduate TYPE OF ACTION (Select the appropriate action(s) from the drop down lists below.)!addition/change of Concentration Other (please specify) A_d_d a_t_ra_c_k_t_o_t_h_e_m a_st_e_r_s _o_f_e_c_o_n_om ic_s_d---' eg... r_e_e If Program Revision of any type, does the change effect program learning outcomes? (If yes, please notify your College APL -see list at PROGRAM INFORMATION Degree/Certificate Program Name Masters of Economics (MAEcon) Major/Minor/Concentration Name (if different from above) Degree Level MA # of Credit Hours 30 D Yes ~ No REQUIRED ATTACHMENTS (The following documents must be attached to this form before submission) ~ Justification Form (JUS) RECE\VED ~ "Before" and "After" bulletin description on two-column Bulletin Change Form (BCH) ~ List of program-related courses which are being newly proposed, or existing courses being changed OCT D Appropriate course action forms for all program-related courses ~ Letters of concurrence from impacted academic units, campuses and/or Dean of Education USC Graduate School PROPOSED EFFECTIVE TERM Change to database/bulletin effective no sooner than: Year: ~Fall D Spring D May Session D Summer I D Summerll Program Terminations - Please indicate when the program will cease admitting students: Year: D Fall D Spring D May Session D Summer I 0 Summer II Program Terminations Please indicate when the program will cease conferring degrees: Year: D Fall D Spring D May Session 0 Summer I 0 Summer II PROGRAM DELIVERY METHOD Please note that it may take up to two years prior to program implementation to process requests for new, distance-delivered programs, depending on the complexity of the proposal. Please contact your Dean's Office or see for more information. Distance Delivery System: D Streaming Video % CD/DVD % D Web-based % D Other (Please specify) % Program Delivery Method: 100 %Traditional %Distance (If program is to be offered 50% or more using distance delivery and/or at an off-campus location, please notify Department Chair.)

2 APA-Page 2 PROGRAM DELIVERY LOCATION Program Delivery Location: 100 %On-Campus % Off-Campus (If program is to be offered 50% or more using distance delivery and/or at an off-campus location, please notify Department Chair.) Proposed Location of Program: Moore School of Business, 1014 Greene St., Columbia, SC USA Facility Address(es) City State Country IMPACT ON OTHER ACADEMIC UNITS & CAMPUSES 1) Does the proposed change affect the curriculum, students or academic interest of any other unit at USC Columbia or on a USC Regional Campus? [g] Yes D No If yes, identify which unit(s)/campus(es) Department of Finance --~ ~----~ How? They will have to allow 5 to 10 students a year into their 700 Level courses (If yes, please attach letters of concurrence from relevant units and/or the Office of System Affairs.) 2) Is the proposed program change designed for P-12 school personnel and/or to prepare graduate students to work in P-12 schools? DYes [g] No How? (If yes, please attach letter of concurrence from Dean of Education.) CONTACT INFORMATION Contact Person: Professor of Economics John McDermott Title dynarno@moore.sc.edu...:.tfl nr-- ' August 20, 2014 RE;QUIRED APPROVALS Department Chair: r(j, ; 1 August 20, 2014 John McDermott r Academic Program Liaison (APL): ~ dynarno@moore.sc.edu Academic Dean: UTS Distance Education (if appropriate) :Brzut-t.J(/~.v;. 1 ~ tfp~inature n 4.a m12orz.c { se., pone Number - I FacSenate Cours&Curric/ Dean of the Graduate -----P::-n., nt:-n-am_e School (as appropriate) D Graduate Council D Faculty Senate of Faculty Governance Approval (if appropriate) Unrversity of South Carolina I Provost Office I APA Form Oct 2010 v4

3 BULLETIN CHANGE FORM USC Columbia, Lancaster, Salkehatchie, Sumter & Union campuses BCH INSTRUCTIONS: This fonn is nonnally used to accompany a program or course action fonn. If the requested change is minor, non-substantive, or editorial, this fonn may be used alone without other fonns. Please insert or attach the proposed language changes exactly as they are to appear in the Bulletin. A two-column fonnat showing both the old wording (left column) and the new wording (right column) is required. This fonn is available online at : August 29,2014 Campus: Columbia --~~~~ College/School: --~M.=:..:o::..::o:.:..r.::..e..::::S..::.:ch::..:o::..::o:..:.l-=o.::...f=B~uc:::..:si:.::n..::.:es::..::s~ Depa~ment Of applicable): ~~~c~o~n~o~m:.:..ic~s~~~~~~~~~~~~~~~~~~~~~ DegreeProg~m~appl~abi~:~M~A~~=c=o="~~~~~~~~~~~~~~~~~~~ Proposed Effective Term- Change to database/bulletin effective no sooner than: Year: 2015 IX Fall I Spring I May Session I Summer I I Summer II I Undergraduate Bulletin Section {if applicable): ~~~~~~~ Internet or web link to Bulletin Entry: ~~~~~~~~~~~~~~~~~~~~~Bulletin Version: IX Graduate CURRENT BULLETIN LANGUAGE (text to be deleted in new version show as ltrikethreugh) NEW LANGUAGE OR PROPOSED CHANGE TO BULLETIN Please note that text should be fonnatted in Word to show strikethrough. Then, cut and paste the text into the space below. (new text shown as underlined) The Master of Arts in Economics program prepares the student for a career as a professional in economics, finance, business, or government; Q[ for further graduate work in the field of economics Q[ finance. Prior degree work in economics is not required. The Master of Arts in Economics program prepares the student for a career as a professional ecoaomist ia btjsiaess aaa government 8ftdl er for further graduate work in the field of economics. Prior degree.. CONTACT INFORMATION Contact Person: Professor of Economics John McDermott Title dynamo@moore.sc.edu A August 19, 2014 REQUIRED APPROVALS (for Bulletin Changes not associated with an academic program or curriculum) Office with Authority for Bulletin Section: Un1versity of South Carolina I Provost Office I Bulletin Change Form Oct 2010 v4

4 ? Old Language: The Master of Arts in Economics program prepares the student for a career as a professional eserer1ist ir busiress ard government amief for further graduate work in the field of economics. Prior degree work in economics is not required. Admission Requirements for admission to the program conform to the general regulations of The Graduate School and the accreditation standards of the Association to Advance Collegiate Schools of Business International (AACSB International}. Applicants submit the Moore School of Business application, an official transcript of their complete academic record and competitive scores on the GRE or GMAT. International applicants whose native language is not English are also required to submit a satisfactory score on the TOEFL or the IEL TS International Academic Course Type 2 Exam. Otherwise-qualified candidates are required to achieve a TOEFL score of at least i BT ef 1 00 er 600 paper based er a ssere ef at least 7.0 er the IELTS exar1. The TOEFL is not required of international students who have a degree from an American college or university. New students are admitted in the fall semester only. Please visit the Moore School of Business website for admissions information. Degree Requirements (30 Hours) The M.A. in economics normally takes three full semesters of work. Each student must complete 30 credit hours, successfully complete a comprehensive exam, and maintain a B average (3.00) in the program. The student may elect the thesis option or non-thesis option. The thesis option requires 24 credit hours of coursework and a 6-credit hour thesis. The non-thesis option requires 30 credit hours of coursework. At the beginning of the first semester, the student must construct a program of study and choose tile thesis er ReA thesis eptier. 1\t least half ef all seursewerk (exsludirg thesis heurs) R1ust be at the level. In the first year of the program, all M.A. students must take the four core courses listed below. New Language: The Master of Arts in Economics program prepares the student for a career as a professional ill economics. finance. business, or government; Q[ for further graduate work in the field of economics Q[ finance. Prior degree work in economics is not required. Admission Requirements for admission to the program conform to the general regulations of The Graduate School and the accreditation standards of the Association to Advance Collegiate Schools of Business International (AACSB International). Applicants submit the Moore School of Business application, an official transcript of their complete academic record, and competitive scores on the GRE or GMAT. International applicants whose native language is not English are also required to submit a satisfactory score on the TOEFL or the IEL TS International Academic Course Type 2 Exam. Otherwise-qualified candidates are required to achieve a TOEFL score of at least 100 on the ibt exam. at least 600 on the paper-based exam. or at least 7.0 on the IELTS exam. The TOEFL is not required of international students who have a degree from an American college or university. New students are admitted in the fall semester only. Please visit the Moore School of Business website for admissions information. Degree Requirements The M.A. in economics normally takes three full semesters of work. Each student must complete 30 credit hours, successfully complete a comprehensive exam, and maintain a B average (3.00) in the program. The student may elect the Economics Track or the Financial Economics Track. Within the Economics Track, the student may elect the Thesis Option or Non-thesis Option. The Thesis Option requires 24 credit hours of coursework and a 6-credit hour thesis. The Non-thesis Option requires 30 credit hours of coursework. The Financial Economics Track requires 30 credit hours of coursework. At the beginning of the first semester, the student must construct a program of study and choose which Track they will follow. Those who select the Economics track must also select the Thesis or Nonthesis option. In the first year of the program, all M.A.

5 Old Language (cont.): Elestive GOllFSeS are thesis hollfs Will ee~erg OR whether the thesis or ROR thesis o~tior is selestee, as s~esi~ee eelow. M.A. StllEieRtS FRay wish to GORStrllGt a ~rografr of stlley arollre the Moore Sshool strergths ir IRtematioRal EsoRoFRiss, EsoRoFRiss of SllstaiRaeility, or Develo~FReRt EsoRoFRiss. The program of study (and any subsequent changes) must be approved by the graduate coordinator, the associate dean and director of graduate programs, and the dean of The Graduate School. 1. Core Courses in Economic Theory and Quantitative Methods ECON Applied Macroeconomics ECON 728- Applied Microeconomics STAT Applied Statistics I ECON 594- Introduction to Econometrics 2. The Thesis Option (12 sreeit hollrs of sollrsework ~Ills 6 sreeit hollrs of thesis ~re~aratior) A total of 4 three-credit-hour, elective courses and 6 credit-hours of thesis preparation must be taken. Elective courses may be chosen from a variety of offerings both within and outside the department. Students pursuing this option may take up to two courses outside the department. At the appropriate time, a thesis committee will be appointed by the graduate coordinator with the approval of the department chair. The committee must consist of at least two faculty members. The student must defend orally a written proposal to this committee. The student must present and successfully defend a completed thesis that gives evidence of mature research within two years of passing the comprehensive exam and not later than six years after entering the program. 3. The Non-Thesis Option (18 sredit hollrs of GOllrse.vork) With this option, a total of 6 three-credit-hour, elective courses must be taken by the student. Elective courses may be chosen from a variety of offerings both within and outside the department. Students pursuing this option may take up to three courses outside the department. All course work must be complete within two years of passing the comprehensive exam and not later than six years after entering the program. New Language (cont.): students must take the four core courses listed below. Elective courses and thesis hours will depend on the Track selected, and whether the Thesis Option or Non-thesis Option is chosen. as specified below. The program of study (and any subsequent changes) must be approved by the graduate coordinator, the associate dean, the director of graduate programs, and the dean of The Graduate School. 1. Core Courses ECON 711 -Applied Microeconomics ECON 712- Applied Macroeconomics STAT Applied Statistics I ECON 736- Introduction to Econometrics 2. Economics Track A. The Thesis Option With this option. in addition to the 4 core courses, a total of 4 three-credit-hour, elective courses and 6 credit hours of thesis preparation must be taken. ~ least half of all coursework (excluding thesis hours) must be at the level. Elective courses may be chosen from a variety of offerings both within and outside the department. Students pursuing this option may take up to two courses outside the department. At the appropriate time, a thesis committee will be appointed by the graduate coordinator with the approval of the department chair. The committee must consist of at least two faculty members. The student must defend orally a written proposal to this committee. The student must present and successfully defend a completed thesis that gives evidence of mature research within two years of passing the comprehensive exam and not later than six years after entering the program. B. The Non-Thesis Option With this option, in addition to the 4 core courses, a total of 6 three-credit-hour, elective courses must be taken. At least half of all coursework must be at the level. Elective courses may be chosen from a variety of offerings both within and outside the department. Students pursuing this option may take up to three courses outside the department. All course work must be completeq. within two years of passing the comprehensive exam and not later than six years after entering the program. 3. Financial Economics Track Students in the Financial Economics Track take 6 three-credit hour courses in addition to the four core

6 ' ' New Language (cont.): courses listed above. All six of the courses must be in the Finance area. All course work must be completed within two years of passing the comprehensive exam and not later than six years after entering the program. Of the six courses, there are three required courses: FINA 761 Advanced Financial Management FINA 762 Investment Management FINA 737 Derivative Securities The other three courses can be selected from any of the courses (subject to the advisor's approval) listed below. FINA 746 Risk Management FINA 756 Financial Statement Analysis FINA 765 Management of Financial Institutions FINA 767 Real Estate Finance FINA 770 Fixed Income Securities FINA 773 Project Finance FINA 867 Ph.D. Course in Banking

7 JUSTIFICATION FORM USC Columbia, Lancaster, Salkehatchie, Sumter & Union campuses JUS : August 19, 2014 Campus: ---=C--=-o.::..:lu=-=m=b=i=a College/School: Moore School of Business Department (if applicable): Degree Program (if applicable): D Undergraduate Economics --~~==== MA Economics --~~==~~~~ ~Graduate The proposal is to add a Financial Economics Track to the Masters of Economics Program. This is a joint effort between the Economics Department and the Finance Department. The reason for the change is to respond to market demand for a Masters Degree that is directed specifically to finance economics. Therefore, the Economics Department has collaborated with the Finance Department in Moore School of Business to develop a new fmancial economics track in the MA Economics program. All of the financial economics courses that students in the financial economics track will take are currently being offered annually and there is excess capacity in each of these courses. Consequently, there will be no additional teaching costs to offer the new track. Graduates of the fmancial economics track will have advanced skills in financial economics and therefore will find employment in businesses and financial institutions in the region. It should be noted that we had changed two course numbers in the recent past (Econ 727 became Econ 712; and Econ 728 became Econ 711) and changed the Econometrics course requirement from Econ 594 to Econ 736. While these changes were approved by the university, they have not made it into the online Bulletin yet. Therefore, the Bulletin Change Form and the associated Word document appear to reflect a change in the Core Courses, but there has been none. University of South Carolina I Provost Office I Justification Form Oct 2010 v3