CREATION OF 4+1 BS/MA ECONOMICS AND BS/MS ECONOMICS DEGREES FOR ECON AND MAEC MAJORS DEPARTMENT OF ECONOMICS CHANGES TO BE EFFECTIVE IN FALL 2014

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1 CREATION OF 4+1 BS/MA ECONOMICS AND BS/MS ECONOMICS DEGREES FOR ECON AND MAEC MAJORS DEPARTMENT OF ECONOMICS CHANGES TO BE EFFECTIVE IN FALL 2014 This document summarizes the implications of the creation of a 4+1 program in economics. It involves the undergraduate majors in economics and mathematics/economics. The program is supported by the mathematical sciences department. The following will also discuss the rationale for the proposed program and outline its structure. Note that there are no course implications due to this proposal. Rationale for the proposed program. Every year several of our stronger sophomore/junior undergraduate majors express an interest in enrolling in graduate economics courses before they have completed all of their undergraduate requirements. These students are often interested in obtaining an MA or MS in economics while pursuing a BS degree and have enough AP credits to complete their undergraduate requirements in less than four years. Currently, an ad-hoc arrangement is made for these students with Mary Martin, Assistant Provost for Graduate Studies and Professional Education. The creation of a 4+1 program would: Provide a clear pathway for students who are currently pursuing this option in an ad-hoc manner. Make this option more widely known to all of our students. Allow students to obtain an MA or MS degree in four or four and one half years instead of five or five and one half years. Allow participating students to benefit from the double counting of credits toward the BS and the MA or MS degrees. Allow for improved recruiting of undergraduate majors and graduate students. Summary of academic changes In brief, this proposal establishes admissions requirements for the 4+1 program, a policy on the dual counting of credits toward both the BS and MA/MS degrees. The following description appears in the attached revised graduate program policy statements for the MA and MS degrees. Also included below are two tables which allow a comparison of the undergraduate major requirements now and under the proposed 4+1 program. There is no effect on the requirements for the MA or MS degrees in economics.

2 Eligibility The program is limited to UD undergraduates pursuing the BS degree in Economics or a Mathematics and Economics major. Under normal circumstances a minimum grade point average of 3.50 in economics courses is required. Students must have completed at least 90 credits toward the undergraduate degree before they can be enrolled in the program. Only full-time students are eligible for this program. Admission requirements Students would normally apply to the program in the spring semester of their junior year, or when they have completed 75 credits toward the undergraduate degree. Students must meet the following requirements for admission: GRE is waived. Minimum GPA 3.50 in economics courses under normal circumstances. A written statement of goals and objectives including a statement that clearly identifies the applicant s interest in the program. Three letters of recommendation from UD faculty, at least one from economics faculty, which comment explicitly on the applicant=s ability to do graduate level work. Application deadline is April 15. Students will be notified of the decision in the summer, after junior year grades have been recorded. Program Requirements Students must fulfill all of the requirements for the MA or MS degree. Up to 6 credits may be dual-counted toward the Bachelor s and Master s degrees, and up to 12 credits of graduate work may be taken while an undergraduate and count toward the graduate degree (6 shared and 6 distinctly graduate only). The minimum grade for dual-counted courses is B. The BS Economics and the BS Mathematics and Economics majors require six economics courses at the 300 and 400 levels beyond ECON 151, 152, 301, and 303. Economics Majors participating in the Dual degree program must take at least two of these six Economics courses at the 400 level. The two dual-counted courses may be used in place of two of the remaining four required courses at either the 300 or 400 level. The total undergraduate credits including dual counted courses is 30. Mathematics and Economics Majors participating in the Dual degree program must take one dual-counted course in place of one of the following courses: ECON 302, 430 or 443. The other dual-counted course must be taken as a free elective. The total undergraduate economics credits

3 for this major including the dual counted courses, one of which is taken as a free elective, is 27. At the beginning of the spring semester of the student s junior year, the student must submit to the Director of the Graduate Program in Economics a list of graduate courses to be taken while an undergraduate. The approval of this list must be obtained before enrolling in any of these graduate courses. Approval will be based on courses already taken, or proposed to be taken, in economics and mathematics. Advisement for the dual degrees is the responsibility of the Director of Graduate Studies of the Department of Economics. Both undergraduate and graduate degrees are awarded concurrently upon completion of all requirements. Students are enrolled as undergraduates in the first four years and as graduates in the last year. See the attached table comparing credit distribution under the existing ECON and MAEC majors with the credit distribution under the proposed 4+1 program under each major. Also attached is a table showing the MA and MS degree requirements which are unaffected by this proposal.

4 Side by side comparisons Economics Major Math and Econ Major BS/MA BS/MA BS BS/MS BS BS/MS ECON 151, 152, 301, ECON 3XX ECON 4XX at least 6 at least 6 ECON 422, ECON 406 or One of ECON 302, 430, or ECON 8XX (dual counted) 6(1) 6(1) TOTAL ECONOMICS CREDITS Undergrad couses displaced by dual counting ECON 3XX or 4XX One of ECON 302, (6 credits) 430, or 443 plus one free elective (6 credits) (1) For MA degree, normally selected from ECON 801, 802, 803, and 804. For MS degree, normally selected from ECON 810, 811, 812, and 822.

5 MA and MS degree Requirements MA MS ECON 801, 802, 803, 804, 27 8XX, 8XX, 8XX, 8XX, 8XX ECON 810, 811, 812, 822, 823, 8XX, 8XX, 8XX 24 One of ECON 804 and ECON ECON 868 or 8XX Topics course 3 TOTAL CREDITS 30 30

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