Handbook

Table of Contents

• Master of Science Degree Program Overview
• Master of Science Degree Requirements
• Admissions and Rules of Satisfactory Performance
• Graduation Requirements
• Preparing for a Doctoral Degree
• Scholarships & Awards
• Teaching Assistantships, Grader and Tutor Positions
• Research Assistantships
• Graduate Student Council
• Graduate School's Policies & Procedures

Master of Science Degree Program Overview

The Master of Science is a two-track program in Economics. The M.S.-Course-Based track is an eight-course program, which can be completed in one year, without a thesis. The M.S.-Research-Based track is a twelve-credit program to be completed in two years, with a master's thesis.

The Master of Science Degree program requirements are designed to provide an understanding and hands-on applications of the theoretical and empirical foundations of modern Economics: statistics and econometrics, microeconomic theory, macroeconomic theory, mathematics, and applied topics. In order to achieve these objectives, there are six required core courses. This six-course core consists of three required two-semester sequences in microeconomics, macroeconomics, and statistics/econometrics.

Our offerings of a M.S.-Course-Based and M.S.-Research-Based degrees line of study, allows students to select based on their own preferences and academic and professional needs. The M.S.-Course-Based and the M.S.-Research-Based degrees make the graduate program in Economics at Tufts more attractive to students looking for advancement in both professional and academic careers.

The elective courses may be selected from a variety of approved offerings within the department, or from approved courses offered at nearby institutions. Students may take courses at the Fletcher School of Law and Diplomacy, Boston College, Boston University, and Brandeis University. A maximum of two graduate courses taken elsewhere can be transferred, subject to the approval of the department.

The 8-course M.S.-Course-Based program is designed to make it possible for a well prepared student to complete it in one academic year. The 12-course M.S.-Research-Based program with a thesis is designed to make it possible for a well prepared student to complete it in two academic years. The faculty and the university alike have a strong commitment to excellent teaching and encourage students to learn at a pace that best reflects their individual circumstances.

Thanks to a generous gift from Rick Henken, a double Jumbo in Economics and currently President of Schochet Associates, we have established the Henken Family Endowed Graduate Research Fund. This provides the Department of Economics with the resources to support one or more Henken Family Scholars each year. For more information on the Henken Family Endowed Graduate Research Fund please click here.

In addition to the regular Master's program, the Economics Department also offers a two-year program, in conjunction with the Department of Urban and Environmental Policy, leading to the degree of Master's in Economics and Urban and Environmental Policy. Applicants to this program must be accepted by both departments. Also, of related interest, the university offers a certificate program in water systems known as Water: Systems, Science, and Society.

The Department of Economics is made up of scholars with Ph.D. degrees from the leading graduate institutions. As reflected in the list of faculty members, the teaching and research interests of the faculty cover a wide variety of subject areas.

Upon receiving their degree, students pursue a variety of options. Some graduates enroll in a Ph.D. program in economics or related subjects, such as marketing, finance and accounting. The preparation received at Tufts provides students with an exceptional background for such study. Other graduates find employment in consulting firms, government and international agencies. Still other graduates pursue a variety of careers such as teaching (either at community colleges or private secondary schools), working in the financial sector, or conducting research at various institutions.

In addition to the various departmental requirements, all students are subject to the University regulations as stated in the Bulletin of Tufts University.

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Master of Science Degree Requirements

All students are required to complete the three core sequence classes: Statistics and Econometrics; Microeconomic Theory I and II; and Macroeconomic Theory I and II. Students are also required to demonstrate competency in the application of mathematics to economic problems. See the Rules of Satisfactory Performance for the different ways that math competency can be fulfilled. The department offers an optional (but highly recommended) mathematics review course (Math Camp), which lasts one week and takes place at the end of August, before the first day of classes. For more information about Math Camp, please click here.

The standard course load for a full-time student is four courses per semester. A grade of B- or above is considered passing. The one-year residency requirement means that the student is obligated to pay full tuition for two semesters unless a portion of tuition is waived through a tuition scholarship.

Students who wish to pursue doctoral studies after Tufts are strongly urged to take more advanced mathematics courses. Details on these and other academic matters will be obtained during the advising process. Please note that those students awarded Teaching Assistantships (TA) are required to attend the TA training program that is held just before the beginning of classes in the fall semester. The typical course schedule for a full-time student is listed below.

(1) The Course-Based M.S. degree in Economics

The Course-Based track in the Master of Science program is designed to provide an understanding of the theoretical and empirical foundations of modern Economics: statistics and econometrics, microeconomic theory, macroeconomic theory, and mathematics. In order to achieve these objectives, there are six required core courses. This six-course core consists of three required two-semester sequences in microeconomics, macroeconomics, and statistics/econometrics.

The final two courses needed to complete the course-based track are elective courses. The electives may be selected from a variety of approved courses within the department, or from approved courses offered outside the department at Tufts or at nearby institutions. Electives could include classes offered in the Department of Economics as well as courses offered in such fields as Mathematics, Computer Science, Psychology, or Engineering. They could also include appropriate Fletcher School electives, potential University Seminars and the consortium: Boston College, Boston University, and Brandeis University. Students may petition for inclusion of other courses not currently on the list. In order to receive the Master of Science Course-Based degree, a student must complete a one-year residency requirement and must pass eight semester courses.

Table 1 describes how students can fulfill the requirements for the Course-Based track in the MS program in one year.

(2) The Research-Based M.S. degree in Economics (M.S.-Research-Based)

The Research-Based track includes the course requirements (8 credits) of the Course-Based track as well as 4 extra credits which include two master thesis credits, an Economic Research seminar and an additional Applied Econometrics elective course. Students in the M.S.-Research-Based program must complete twelve credits.

The Economic Research seminar, EC292, is a ½ credit course taken each semester. It requires that students attend seminars and lectures at the department on a semi-weekly basis. Students are expected to read the papers, present a summary of the paper to the instructor and actively participate in the seminar.

The Applied Econometrics graduate course will focus on an empirical analysis of the material learned in the six core courses. It will also provide additional econometric tools necessary for students to be able to carry out a substantive research project. Together, the Applied Econometrics course and the thesis will serve as a capstone for the M.S. Research-Based degree. In order to receive the Master of Science Research-Based degree, a student must complete a two-year residency requirement and must pass twelve semester courses.

The thesis must be a major research project that is conducted under the supervision of a member of the department. The completed thesis must be presented and successfully defended in an oral examination administered by a formal thesis committee. Thesis credit is awarded when a final draft is approved by the thesis committee. It is important to note that a Master's thesis must contain original work and cannot be submitted as a paper in other courses.

Table 2 indicates how students would typically complete the M.S.-Research-Based in degree Economics.

Upper Level Electives
Prior to each semester, a list of approved elective courses is distributed to all current students. This list includes specific upper-level undergraduate courses in the Economics and Mathematics Departments and graduate courses at the Fletcher School. In addition, students can petition to take other upper-level undergraduate economics courses not included in the list of elective courses. The Elective Petition Form states the additional work that the Master's student must complete in order for these courses to count as MS electives. The petition must be signed by the student, the instructor, and the Program Director(s). Upon the department's approval, students may cross-register for one course per semester at Boston University, Boston College, or Brandeis University. Cross-registration forms can be obtained from the Student Services Desk on the seventh floor of Dowling Hall or click here to download.

Transfer of Credit
A maximum of two graduate courses taken either at Tufts, as a non-degree student, or at another institution can be transferred for credit into the Master's program, subject to the approval of the Economics Department and the Graduate School. Students must submit the Petition for Transfer of Credit Form in order for these courses to be approved. In order for courses to be eligible for a transfer of credit, students must have received a grade of B- or better in the course and it must not have been used for credit for an undergraduate degree or another graduate degree.

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Admissions and Rules of Satisfactory Performance

All entering students will be admitted to the Master of Science program in Economics and are asked to reveal potential interest in pursuing either the one year M.S. Course-Based degree or the two-year M.S.-Research-Based degree. In the first year of the program students are allowed to take a maximum of 8 course/credits.

To be admitted into the Research-Based Master of Science degree in the second year, students must demonstrate good standing in the first year of the program. Specifically, a full-time M.S.-Research-Based student will have to:

1. Show Math Competency by the end of the first (Fall) semester.
2. Receive a final grade of B or better in all six core courses (EC201-EC206), and a grade of A or better in at least two of those classes (these minimum grade requirements may be adjusted by the Graduate Program Committee at the beginning of each year).
3. Demonstrated ability to conduct independent research.

Waivers to each of these three requirements may be granted by the graduate committee in exceptional circumstances.

In addition, in order to be admitted to the M.S.-Research-Based degree, by the end of the second (Spring) semester a student will have to:

4. Fill out an application with the Department of Economics, providing, among other information, (a) the provisionary title of the M.S.-Research-Based thesis project, and (b) the name of an Economics faculty mentor who will be the primary advisor for the M.S.-Research-Based thesis project.

The Economics Graduate Committee will review the applications at the end of the second (Spring) semester and make decisions no later than May 15 of the first academic year.

Students who are accepted for the M.S.-Research-Based degree program should then enroll in the second year fall semester Economics Research Seminar, Thesis Courses and electives, including the Applied Econometrics required course.

To demonstrate good standing in the second year of the program, a student must be making satisfactory progress on their thesis. By the end of the second year, students must have completed all required coursework, submitted a thesis to the Graduate School, and satisfactorily completed an oral defense of their thesis, according to the existing guidelines of the graduate school.

Failure to show satisfactory performance in the first or second year of the MS Program in Economics will result in withdrawal from the Program.

Math Competency can be shown by:

1. Passing the REQUIRED Math Competency Exam that is given at the start of the program,
   OR
   
2. Passing (B- or higher) all 3 Core Courses in the first (Fall) semester

Students who do not meet either of these 2 requirements by the end of the first year will be considered to have failed to show math competency. This can ultimately result in unsatisfactory performance in the MS program (see above).

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Graduation Requirements

In addition to having successfully completed the requirements listed above and having demonstrated competency in mathematics with respect to economic problems, students must complete the following items by their respective due dates in order to be eligible to graduate. Please refer to the Graduate Student Handbook for a complete list of deadlines.

1. Submit the Recommendation for Award of Master's Degree form (Degree Sheet). This form must be completed online, signed by your advisor and the chair of the department, and submitted to the Graduate School. A copy should also be provided to the Economics office.
   
2. Complete the online graduate exit survey.
   
3. Submit copies of the thesis, if applicable, to the thesis committee. Upon approval, the committee will send approval forms to the Graduate School. Students submit their final approved thesis online at http://dissertations.umi.com/tuftsase/. There is a $45 fee for the archiving of a thesis.
   
4. Submit the online commencement information form, which is available at http://studentservices.tufts.edu/webcenter.

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Preparing for a Doctoral Degree

For students who are considering obtaining a Ph.D. in economics, we recommend taking the Real Analysis sequence in the Mathematics Department (Math 135/136) and pursing the Research-Based track that includes writing a Master's thesis. The former is an important way of showing the appropriate mathematics background that is required by many top departments and the latter is a way of showing significant research experience and the beginnings of a research agenda that will be continued at the Ph.D. level.

It is strongly recommended that these students discuss their plans with the director(s) of the Master's Program.

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Scholarships and Awards

Most students receive partial (but not full) financial aid to cover their tuition expense. In recent years, financial aid for tuition has resulted in the average student's paying about one-half the full tuition charge.

Financial aid is limited in supply and is awarded by the department on the basis of its judgment of the qualifications of the student and of his or her potential for continued study. Awarding of financial aid takes into consideration a student's study plan. The primary form of financial aid is a tuition scholarship, which consists of a full or partial waiver of tuition for the year in which it is granted. Tuition waivers are awarded on a need and/or merit basis. In order to receive a tuition scholarship, applicants must fill out the financial aid form that is part of the application package for the Master's Program at Tufts.

In addition to tuition waivers, approximately 10-14 students per semester are employed as Teaching Assistants. Teaching Assistantships are usually awarded as 2/3 positions earning approximately $4,500 per semester. Teaching Assistants are obligated to pay full tuition unless they are also granted a tuition waiver. Students are chosen for such positions on the basis of knowledge of economics and teaching skills. Satisfactory performance as a Teaching Assistant and satisfactory academic performance are required in order for a student to remain eligible to hold the position.

All students may also seek employment as departmental Graders and/or Tutors and/or Research Assistants. Positions are available each semester contingent upon departmental needs.

Requests for additional information on other sources of financial support should be directed to the Graduate School. All applicants should submit their requests for financial aid together with the application. Students presently employed may also wish to explore the possibility of employer reimbursement for tuition expenses.

Awards
The Holzman Award is offered to the top Tufts University undergraduate who is accepted into the Master's Program. This student may receive a full tuition scholarship and a Teaching Assistantship.

The Henken Family Endowed Graduate Research Fund supports one or more Henken Family Scholars each year. For more information on the Henken Family Endowed Graduate Research Fund please click here.

The Graduate Economics Thesis Research Scholarship supports one or more outstanding student each to engage in research for their Master’s thesis.

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Teaching Assistantships, Grader, Tutor and Research Assistantship Positions

Graduate students can be hired by the Economics Department to serve as a Teaching Assistant (TA) and/or as a Grader and/or as a Tutor and/or as a Research Assistant. Most TAs are Section Leaders for large lecture classes and work closely with the instructor and students of that class. Each TA is assigned to a single course and is typically used as a Section Leader for 2 sections (or a maximum of 3 for a full appointment) and as a grader for that course.  Graders/Tutors are generally assigned to carry out grading for two (or a maximum of three) courses. The mission of both types of positions is the same: support the instructor(s), and facilitate student learning. Research Assistants engage in research and provide research servicers to a faculty mentor.

A 2/3 TA position normally requires 12 hours per week - a time commitment that is similar to that of 2/3 of a course in the Master's program.

Although it is impossible to anticipate every task that may arise, the following lists provide a guide to the major TA responsibilities and the amount of time involved for each. These are average weekly hours and there can be considerable variation from week to week. For example, a TA may work 2-4 hours more during the week before an exam and 5-10 hours more during the week after an exam. During other weeks a TA will work fewer hours than average. New TAs should also keep in mind that they may need more preparation and grading time than experienced TAs. This balances out when one becomes an experienced TA.

Any TA who experiences problems should talk to the course instructor, the director(s) of the graduate program, or the chair of the department. If none of these individuals seem appropriate for the problem, Tufts offers many other avenues of support. The staff in the office of the Dean of the Graduate School can help resolve issues or direct you to the right person.

Responsibilities and Hours of TAs Employed as Section Leaders

• Attend Monthly TA Training Sessions (monthly meetings)
• Attend Class/ Help Administer Class Meetings/ Proctor Exams - 3 hours
• Attend Weekly Planning Meeting with Instructor - 1 hour
• Prepare Section Presentations - 2 hours
• Conduct Weekly Section Meetings - 2 hours
• Hold Office Hours - 1 ½ hours (extra office hours may be needed before exams)
• Assist in Grading - 1 ½ hours (weekly average, much week-to-week variation)

TAs are provided a stipend for the semester.

Course instructors have the sole responsibility for planning and administering the course. Teaching Assistants can expect them to: clearly spell out the role of the TA(s), hold weekly planning meetings for the class, give the TA(s) reasonable time to complete assignments, give TA(s) advance notice when special assistance is needed, and participate in occasional training sessions.

In the large lecture classes that employ TA(s), it is normal to distribute a short course evaluation approximately 4-5 weeks into the course. The purpose of this evaluation is to provide feedback to the course instructor and
TA(s) while there is still the opportunity to correct any problems.

Responsibilities and Hours of Graders/Tutors

• 2-4 hours per week for each class or section
• 6-8 hours per week in total

Graders are usually paid a stipend for the semester to grade for 2 (up to a maximum of 3) classes. Some instructors may also pay for grading on an hourly basis.

Instructors are expected to: meet with Graders before an assignment begins, spell out the details of how the work is to be graded, provide an answer key (when appropriate), allow reasonable time for the completion of assignments, and provide advance notice when special assistance is needed. Since Graders do not normally attend lectures for the courses they are grading, it is important that they communicate with the instructor any time they have a question about their assignment.

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Research Assistantships

Research assistantships may be available during the academic year and the summer. These positions are usually awarded by the Graduate director(s) in conjunction with the professor who is conducting the research and who would be supervising the student.

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Graduate Student Council

The Graduate Student Council (GSC) was formed to serve the graduate students of Tufts University by providing social, cultural, and educational opportunities. The GSC brings together graduate students from the departments and schools across the university. For more information, visit GSC's website.

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Graduate School's Policies and Procedures

For a full description of the Graduate School's Policies and Procedures with regard to registration, tuition and fees, academic policies, degree requirements, Master's thesis requirements, and more, please refer to the Graduate Student Handbook on the Graduate & Professional Studies web site.

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