Econometrics Lab

Opened in 1993, the Econometrics Lab provides graduate students and faculty with state-of-the art computing facilities.    The lab has both PC's and UNIX-based Sun workstations, and the latter can be accessed remotely from anywhere on campus or at home via modem.   Supported econometric software includes MATLAB, Gauss, Mathematica, SAS, Stata, TSP, RATS, LIMDEP, and Shazam.  The compilers for other programming languages and word processors are also available.  The lab employs one and a half consultants to help students and any graduate student is eligible for an account in the lab.  Detailed information about our lab facilities is available at http://www.it.econ.lsa.umich.edu/.

Sumner and Laura Foster Library

The Sumner and Laura Foster Library combines the library collections of the Department of Economics and the Gerald R. Ford School of Public Policy.    Housed on the second floor of Lorch Hall, the Foster Library's primary purpose is to serve the faculty and graduate students in the two units. The Foster Library's collection focuses on materials in the fields of international development, public policy, and economics.   While the majority of the collection is comprised of journals and working papers collected from the U.S. and abroad, it also contains books, dissertations, reference works, and foreign and U.S. government documents.  In addition to providing access to library materials and maintaining its collection, the Foster Library offers reference and information services, casual reading and study areas, and course reserve materials.   For more detailed information, review the web page at http://www.econ.lsa.umich.edu/library/.

Research Seminar in International Economics

The seminar is a research and training facility located in the Department of Economics.     The seminar program includes the formulation of international economic theory, the empirical testing of hypotheses implied by the theory, the measurement of quantitative international economic relations, and the analysis and evaluation of significant problems of policy and the operation of international economic institutions.   The seminar meets weekly under the direction of Professors Deardorff, Dominguez, Hallak, Kilian, Levinsohn and Tesar.  Research results usually are issued as working papers and published in journals or edited volumes.  Additional information about the seminar is available at http://www.fordschool.umich.edu/rsie/

Research Seminar in Quantitative Economics

The Research Seminar in Quantitative Economics (RSQE) provides students with an opportunity to combine the study of econometric theory with the practice available from an ongoing research project in econometric analysis. The RSQE sponsors two principal activities in which qualified students are welcomed as participants and through which Research Assistant appointments are available.    One activity is centered around the RSQE's econometric models of the U.S. economy and the economy of the State of Michigan and includes 1) a forecasting program which produces quarterly forecasts of the economy, 2) a program of structural and policy studies concerned with the dynamics of the economy as represented by the econometric model, and 3) continual research aimed at improving the specification of the models. The other principal activity involves basic research on econometric technique and its application to substantive economic problems.  The faculty associated with the RSQE provides general supervision of seminar projects.   For more detailed information, review their web page at http://www.rsqe.econ.lsa.umich.edu/

Conference on the Economic Outlook

The Department of Economics and the Institute for Social Research jointly sponsor the annual Conference on the Economic Outlook.    This Conference takes place each November and is attended by a large number of business, academic, and government economists.  The program consists of formal lectures and round‑table discussions dealing both with the short‑term economic outlook for the coming year and the economic and social setting over the longer run. A continuing feature of this Conference is a forecast for the U.S. economy in the year to come, made on the basis of the econometric model developed by the Research Seminar in Quantitative Economics.

Program for Research on the Information Economy

The Program for Research on the Information Economy (PRIE) is a cross-campus, multi-disciplinary forum for faculty and graduate students who investigate the economics of information, or the use of economics in designing, implementing and managing of information systems. PRIE holds regular brown-bags at which participants share research in progress, and brings to campus guest lecturers from around the world.    PRIE also provides some financial support to graduate students, and disseminates research papers through electronic and paper publications.  Professor MacKie-Mason directs the program at the School of Information  (734) 763-2285.   Additional information on this program is posted at http://www.si.umich.edu/.

Centers for Area Studies

The University engages actively in certain Area Studies, with special emphasis on China, Japan, the Soviet Union and Eastern Europe, Western Europe, South and Southeast Asia, and the Near East and North Africa.   A variety of programs and courses are offered covering economic, political, historical, and cultural studies of these areas.  In addition, the Centers maintain reading rooms with current publications on the area and sponsor many lectures and seminars by leading scholars from various countries.  In the Department of Economics, Prof. Park has worked on issues relevant to Chinese economic issues and Prof. Adams specializes in Western Europe, especially France. Prof. Saxonhouse specializes in the Japanese economy. In addition, many other faculty have worked in particular countries at one time or another.  Interdepartmental seminars are carried on in several of these areas.   The International Institute maintains a web site to enable you to contact these individual area centers.  That web site is http://www.ummich.edu/~iinet/iisite/profiles.html/.

Center for the Study of Complex Systems

The Center for the Study of Complex Systems has recently learned that they are very likely to receive an NSF IGERT award for interdisciplinary study in economic and political institutions.   The program's primary themes are diversity, networks, interactions, and adaptation.  Students will pursue an innovative, interdisciplinary graduate studies program that includes opportunities for research assistantships and semesters of study at the Santa Fe Institute, which is a participating institution in this grant. Students should apply to the economics department directly and mention that they would like to be considered for the IGERT award.  IGERT awardees will receive generous financial packages and increased research and travel opportunities.  Professor Scott Page is the contact person for this program and can be reached at (734) 615-2805 or by email at spage@umich.edu. More information about this program is available at http://www.pscs/umich.edu/.

Center for Research on Economic and Social Theory

The Center for Research on Economic and Social Theory (CREST) serves as the central forum for those faculty and students whose primary interest is in economic theory.   CREST holds weekly seminars in which original research of resident faculty and students or innovative work in economic theory that has recently appeared in the economic literature is discussed.  Many of the papers discussed in the seminar are subsequently duplicated and distributed as CREST discussion papers to members of Economics departments at other universities. The Center also brings to Michigan a number of guest lecturers from other universities. 

Population Studies Center

The Population Studies Center of the Institute for Social Research is an interdisciplinary center that conducts research and training activities in demography, with an emphasis on the interrelations between population studies and other social sciences.   An economic demography graduate training program has been run jointly by thePopulation Studies Center and the Economics Department since the 1960s, providing fellowship support to economics Ph.D. students interested in the connection between economics and demography, including the economics of aging. The program supports 6-8 economics Ph.D. students per year.  Students may combine economic demography with any other fields in economics, with many students choosing labor economics, public finance, or economic development. Students in the program are given office space at thePopulation Studies Center and have access to the computing and other research support facilities at the Center.  Economics faculty with appointments at the Center are John Bound, David Lam, and Robert Willis.  Other Economics faculty who are part of the PSC training faculty are Charles Brown, Paul Courant, Julie Cullen, Albert Park, Matthew Shapiro, Gary Solon, Frank Stafford.  Students who wish to obtain further information should contact Professor John Bound, coordinator of the Training Program in Economic Demography (734) 763-1414.  Professor Bound can also be contacted via email at jbound@umich.edu.   Further information about the Center for Population Studies is posted at http://www.psc.isr.umich.edu/

Survey Research Center

TheSurvey Research Center of the Institute for Social Research engages in extensive economic research, especially in the field of consumer behavior. A number of advanced graduate students in the Department of Economics participate in the research program of the Center on a part‑time basis.   Through this work many students receive first‑hand experience and training in the increasingly important application of survey research methods to economic problems.  There are also full‑time positions as Assistant in Research for those who need to take time out from classes to accumulate funds while learning research methods.  The Center's archives of survey data can provide a useful source of materials for doctoral dissertations.   For further information, contact the Survey Research Center, Institute for Social Research (734) 763-5186 or review their web page at http://isr.umich.edu/src.

Japan Economy Program

Graduate student participation in the research and training activities of the Japan Economy Program is encouraged through special seminars and research assistantships.   For students with fluency in Japanese or the aptitude and inclination to undergo further language training, a limited number of multi‑year fellowships are available. During the past few years, the Department of Economics has received a number of grants designed to facilitate the training of specialists on the Japanese economy.  For further details, contact Professor Saxonhouse (734) 764-3296.   Professor Saxonhouse can also be contacted via email at grsaxon@umich.edu

Committee for Comparative and Historical Research in the Market Economies

The Committee for comparative and Hisorial Research on the Market Economics (CCHROME) is a unit within the Department of Economics. CCHROME serves as an institutional locus within the University for comparative and historical economic research on Japan, Western Europe, the United States, and other market economies.  Graduate student participation in the research and training activities of CCHROME is encouraged through seminars and research assistantships.  For students with research interests related to CCHROME activities, some fellowship is available. In addition, special multi-year fellowships are available from the Committee on Japanese Economic Studies for which CCHROME maintains the national headquarters.  For further information, contact Professors Adams, Saxonhouse, or Whatley at (734) 764-5567.

School of Natural Resources and Environment

Dual-degree programs are available with the School of Natural Resources and Environment (SNRE) leading to either a Ph.D. or Master’s in Economics with a Master’s in Natural Resources and Environment.   For students interested in environmental and resource issues (which inherently involve multiple disciplines), these programs offer training in both economic methods and the science and policy of environmental topics.  At the core of these programs are the specialized courses in Environmental and Resource Economics: for Ph.D. students, Econ 661/NRE 668 and Econ 662/NRE 669; for M.A.E. students, Econ 471/NRE 503 and Econ 472/NRE 583.  Students complete all requirements for both degrees, but significant overlapping of these requirements is permitted.  For further information on these programs, contact the Office of Academic Programs, SNRE, (734) 764-6453 or snre.admissions@umich.edu.    More information about the School of Natural Resources and Environment is available at http://www.snre.umich.edu/.

Office of Tax Policy Research

The Office of Tax Policy Research is housed in the School of Business Administration and is co-directed by Professor James Hines and Professor Joel Slemrod, both of whom have joint appointments in Economics and the Business School.   Faculty associates of the Office come from the Economics Department, the Business School, and the Law School.  It sponsors several tax‑related activities, including a tax policy lecture series, conferences on issues of current interest, joint research projects, research seminars, a tax database and a dissertation fellowship.   The Office offers the Richard A. Musgrave Fellowship to an outstanding incoming graduate student intending to pursue public finance as a field.  Several graduate students hold research assistantships with the Office each year.  For further information, contact Professor Slemrod (734) 936-3914 (via email at jslemrod@umich.edu) or Professor Hines at (734) 647-4703 (via email at jrhines@umich.edu).     Further information about the Office of Tax Policy Research can be reviewed at http://www.taxpolicyresearch.umich.edu/.

William Davidson Institute

The William Davidson Institute is located on the first floor of Sam Wyly Hall, 724 East University.   The Executive Director, Jan Svejnar, has a joint faculty appointment at the Department of Economics and the Business School.  The Davidson Institute has 12 Area Directors, 23 Faculty Associates and 164 Research Fellows, who carry out research on transition and emerging market economies.  The Institute provides a number of research assistantships to graduate and undergraduate students, as well.  The Davidson Institute is also developing an extensive data base to aid scholars in their research, in addition to developing its own economic forecasts. 

For further information, please contact Jan Svejnar (734) 936-5042    (email svejnar@umich.edu) or Brent Chrite (734) 764-8539 (email bchrite@umich.edu).   For more information on the William Davidson Institute, please check our web site at  http://www.wdi.bus.umich.edu/

Joint Program in Financial Engineering

The Master’s of Financial Engineering can be earned by completing 30 credit hours including coursework in capital budgeting and corporate finance, financial markets, investments, derivative instruments and securities and financing engineering, plus analytical tools in optimization, stochastic processes and statistics.    Students typically apply for this program after completing their first year of study in the doctoral program in economics.  The Managing Director of this program is Professor Vadim Linetsky at (734) 764-6315.  His email address is linetsky@engin.umich.edu .    Further information is available at http://interpro.engin.umich.edu/fep.

Joint Program in Law and Economics

A small number of exceptionally well‑qualified applicants are admitted jointly to the Graduate School and the Law School and permitted to pursue a program leading to both the Ph.D. degree in economics and the J.D. degree.   The program can be completed in five calendar years but most students take longer.  The program requires simultaneous application to both the Law School and the Economics Department.  To be eligible for consideration for this program, the applications must be submitted no later than December 31.  Interested students should write to the Admissions Office, University of Michigan Law School, for further details (734) 764-0537. Financial aid is available on an equal basis with continuing Ph.D. economics students.  Other aid is occasionally available from the Law School.   More detailed information about the Law School is posted at http://www.law.umich.edu/.

Joint Program in Public Policy and Economics

The Ford School of Public Policy and the Economics Department at the University of Michigan have a joint degree program that links the existing doctoral program in Economics to a program that requires a more focused examination of Public Policy.   The program is designed to ensure that graduate students combine full training in the theoretical and methodological traditions of economics with additional training in Public Policy.  Students must apply to and be accepted by the admissions committees of the Economics department and the of Public Policy.  Students will be overseen by the Economics Department in collaboration with the School of Public Policy.  The degree earned will be a Ph.D. in Economics and Public Policy.  To obtain more information about the joint doctoral program, contact Doctoral Program in Public Policy and Social Science, Gerald R. Ford School of Public Policy, University of Michigan, Ann Arbor, MI  48109, (734) 764-3490.  Information about the Gerald R. Ford School of Public Policy is also available at http://www.fordschool.umich.edu/.

Department of Economics Requirements

Students are required to take Economics 600, the microeconomics sequence (601-604), the macroeconomics sequence (605, 607), the econometrics sequence (671, 672), and one field sequence.   Students are required to take and pass the microeconomics and macroeconomics preliminary examinations following the same schedule as do doctoral students in Economics, to pass a field preliminary exam, and to write a third-year paper and a dissertation.  The third-year paper and dissertation are to be written on a policy-related topic.

Ford School of Public Policy Requirements

All first and second year students must attend a biweekly seminar series on applied policy research offered by the Ford School for 1 credit.  At each seminar, a speaker will present a policy research paper and a respondent will discuss the paper.

Students are required to take 2 courses in a substantive policy area (either a doctoral policy course or external course) which substitutes for the second field in economics.  Students are also required to take a program evaluation course and a course on research methods in social science.  (This covers quantitative and qualitative methods of data collection and would complement the econometrics sequence.  For example, Economics 675 can substitute for the Ford School required course in research methods in social science.)  Students are also required to take at least one course in public management (doctoral policy course), organizational theory (doctoral political science or doctoral sociology) or implementation (doctoral political science).

Joint Program in Social Work and Social Science

The doctoral program in Social Work and Social Science at the University of Michigan is an interdepartmental program leading to a Ph.D. degree in Social Work and Economics.   This program is designed to prepare students for various careers in research, teaching, and certain types of policy development work in the social welfare field.  Its primary focus is on research, knowledge development and the application of social science theories and methods to solve social problems.  Students interested in the joint degree program must pass preliminary examinations in economic theory and public finance or labor.  Students will receive individual course requirement plans including courses in economic theory, statistics, and public finance or labor economics.  For more information about the joint program, please contact the Joint Doctoral Program Office by phone at (734) 763-5678, by email at ssw.phd.info@umich.edu or view additional information at http://www.ssw.umich.edu/.

Joint Program in Statistics and Economics

A joint program is available with the Department of Statistics leading to a Master's in Statistics and a Ph.D. in Economics.   A doctoral student specializing in econometrics may obtain a Master's in Statistics by completing Statistics 501, 510, 511, 531 or Stat 526 with Economics 678, 679 and two other approved statistics courses at the 500 level or above.  For further information on this program, contact the Chairperson, Department of Statistics (734) 763-3519.  More information about the Statistics Department is available at http://www.stat.lsa.umich.edu/.

STIET Multidisciplinary Doctoral Fellowship Program

STIET is an acronym for Socio-Technical Infrastructure for Electronic Transactions.   With support from the National Science Foundation, the University of Michigan has created an exciting, multidisciplinary doctoral fellowship program for scholars interested in the social and technical aspects of electronic transactions, including e-commerce.  Doctoral students from the School of Information, the School of Business Administration, the Department of Economics, and the College of Engineering are part of a strong cross-school community of scholars who are addressing issues related to electronic transactions.  Students interested in this program should apply directly to one of those programs and note their interest in this program in the area of specialization section of the application form.  The STIET programs includes fellowships which provide tuition and a stipend for the first two years of graduate study, a faculty research mentor, a weekly research seminar and semi-annual workshops, and multidisciplinary coursework.  More information is available about this program at http://stiet.si.umich.edu/ or call (734) 615-7210.

Graduate Economics Society

The Graduate Economics Society plays two roles in the graduate program.  First, it serves as the vehicle for student participation in the decision‑making processes relating to the graduate program itself.  Second, it sponsors various activities designed to broaden the outlook and perspective of students as prospective economists.  The Society also helps new students acquaint themselves with the Department and with life in Ann Arbor.

The Society is an informal organization and all graduate students are automatically members. Student representatives play a significant role in the development and reorganization of the graduate program. The faculty has shown its interest in securing the opinions of students and the Society has contributed to student‑faculty communications.

The Graduate Economics Society sponsors an orientation program for new students and assists them in familiarizing themselves with Ann Arbor, the University, and the Department.  Other social affairs are sponsored by the Society during the year.