Program: Quantitative Economics [BS + MS] - Eastern Michigan University

Apr 04, 2025

2020-2021 Undergraduate Catalog

New Program [Fall 2020]

Quantitative Economics (B.S. + M.S.) prepares students to pursue career opportunities in science, technology, engineering, mathematics (STEM) fields including business, government, and the nonprofit sectors. Students also receive an excellent foundation for success in Ph.D. programs in Economics and Public Policy. The Combined Quantitative Economics (B.S. + M.S.) is appropriate for students who wish to seek jobs in the private and public sectors that require data analysis skills or careers that require a Ph.D. in economics or a related field. Students completing the program will earn a Bachelor of Science in Quantitative Economics (BSQE) and Master of Science in Applied Econometrics (APEN) at the same time after completing 142 credit hours in approximately 5 years.

Learn

Economics is divided into three primary, interrelated sub-disciplines: Microeconomics, Macroeconomics, and Econometrics. Microeconomics studies how people, businesses, and government agencies use the scarce resources available to them (such as time, money, land, etc.) to achieve their objectives (such as earning income, making a profit, etc.). This involves the allocation of those resources among their different uses. Businesses and people make microeconomic decisions as they produce, sell and buy, and use the goods and services that people want or need. Macroeconomics studies the processes that determine the overall size of the economy, the factors that cause the economy to grow or shrink over time, and related problems like unemployment and inflation. Econometrics involves the use of statistical modeling to evaluate economic relationships, and provide public policy guidance. The Combined Quantitative Economics (B.S. + M.S.) emphasizes the skills developed in the quantitative applications of micro- and macroeconomics.

Opportunities

Students are encouraged to become involved in the Economics Club, a student-run organization that meets regularly to organize applications outside the classroom. Promising students are invited to join the Fed Challenge team, a student-team competition that competes with teams from other universities in a mock Federal Open Market Committee meeting. Students also have the opportunity to become members of Omicron Delta Epsilon, the national economics honor society. The department also offers several scholarships awarded to students annually.

This is a designated STEM (science, technology, engineering, and math) program.

Department Information

Economics | Mehmet Yaya, Ph.D., Interim Department Head | 703 Pray-Harrold, 734.487.3395, myaya@emich.edu

Advisor Information

Please contact the department for advisor information.

Program Admission

Combined Program Admission

At a minimum, a student must meet the following criteria to be admitted to the combined program. A student can not enroll in 500-level courses until they are admitted into the combined program.

Students may apply for admission into the undergraduate portion of a combined program after completing no fewer than 60 undergraduate credit hours.

Students must have a minimum overall undergraduate GPA of 3.0 for admission to combined programs.

In addition to the above-mentioned criteria, applicants must also complete the following coursework prior to applying to the combined program.

Principles of Macroeconomics (ECON 201 )
Principles of Microeconomics (ECON 202 )
Business Statistics (ECON 310 )
Intermediate Macroeconomics (ECON 411 )
Intermediate Microeconomics (ECON 412 )
Econometrics (ECON 415 )
Calculus I (MATH 120 )

Graduate School Admission

Meet Graduate School Admission Requirements (see Graduate Admissions)
- Note: The minimum GPA requirement for students in a combined program is a 3.0, not 2.7.
Submit a Graduate School Application
Pay $45 application fee

Undergraduate Degree -

The requirements listed below will appear on a student’s undergraduate transcript.

For the undergraduate portion of this program, students must earn a minimum total of 124 credits at the 100-level or above.

General Education Requirements:

For specific requirements, see General Education or print a worksheet .

Major Requirements: 46 hours

Undergraduate Courses: 34 hours
Mathematics Course: 4 hours
MATH 120 - Calculus I [GEQR] 4 hrs
Required Courses: 18 hours
ECON 201 - Principles of Macroeconomics [GEKS or GEQR] 3 hrs
ECON 202 - Principles of Microeconomics [GEKS] 3 hrs
ECON 310 - Economic Statistics 3 hrs
ECON 411 - Intermediate Macroeconomic Analysis 3 hrs
ECON 412 - Intermediate Microeconomic Analysis 3 hrs
ECON 415 - Introduction to Econometrics 3 hrs
Restricted Electives: 12 hours

Complete twelve credit hours of “ECON” courses at the 300-level or above. A minimum of two courses must be from the following.
ECON 416 - Time Series Analysis 3 hrs
ECON 445W - Economic Fluctuations and Forecasting [GEWI] 3 hrs
ECON 455W - Cost-Benefit Analysis [GEWI] 3 hrs
Graduate Courses: 12 hours

A student must be admitted to the combined program before enrolling in a 500-level course.
Required Courses: 6 hours
ECON 511 - Mathematical Economics 3 hrs
ECON 515 - Econometrics Analysis II 3 hrs
Restricted Electives: 6 hours

Choose two courses from the following. If the undergraduate versions of courses were previously completed, students are required to choose a different 500-level and above courses approved by the Graduate Coordinator.
ECON 516 - Time Series Econometrics 3 hrs
ECON 537 - Microeconometrics in Healthcare 3 hrs
ECON 545 - Econometric Forecasting and Policy Analysis 3 hrs

Minor Requirement:

This major does not require a minor.

Graduate Degree -

The requirements listed below will appear on a student’s graduate transcript.

Degree Requirements: 18 hours

Required Courses: 9 hours

ECON 601 - Macroeconomic Analysis 3 hrs
ECON 602 - Microeconomic Analysis 3 hrs
ECON 604 - Research Seminar in Economics 3 hrs

Restricted Electives: 9 hours

Choose an additional three “ECON” courses at the 500-level or above.

If the undergraduate versions of courses were previously completed, students are required to complete an additional 500-level and above courses approved by the Graduate Coordinator. These courses must be from Economics, Mathematics, Statistics, Computer Science, Finance or a department-approved by the Graduate Coordinator.

Combined Program Total: 142 hours

Critical Graduation Information

Each undergraduate student will be responsible for the fulfillment of the requirements or their equivalents of the Eastern Michigan University catalog in force at the time of their initial registration at a college or university or a subsequent catalog including the one in effect at the time of their graduation.

In the event an undergraduate student does not complete the degree requirements within seven years of the date of their original registration at a college or university, the student may be required to have their credits re-evaluated by the academic department(s) of their major/minor in keeping with catalog requirements in force during the year of their graduation.

The following are minimum requirements for all bachelor’s degrees awarded by Eastern Michigan University. Some majors and minors require more than the minimum in one or more of the areas below; students are urged to consult the online catalog for the requirements of their particular programs.

Earn a minimum total of 124 credits at the 100-level and above. Courses with numbers below 100 will not be counted toward this degree requirement. At most 8 credit hours of physical education (PEGN) activity courses will be counted toward this requirement.
Meet the requirements of the General Education program (see information below).
Complete a Writing Intensive (GEWI) Course in your major.
Earn a minimum of 60 credits from a four-year college or university; courses taken at community colleges cannot be used to meet this requirement. (Some formal program-to-program articulation agreements modify this requirement. See specific agreements for details.)
Earn a minimum of 30 credits from courses taken at EMU.
Complete 10 of the last 30 hours for the degree from courses taken at EMU.
Have a minimum of 30 unique credit hours in their major and 20 unique credit hours in their minor for a total of at least 50 unique credit hours between them. Some majors that require 50 or more hours themselves do not require a minor; students should check requirements of the selected major in the undergraduate catalog to see if a minor is required.
Earn no more than 60 credit hours in one subject area (prefix). Credits in excess of the 60 maximum will not be counted toward the minimum of 124 credits required for a bachelor’s degree.
Earn the minimum number of credits in 300-level and above courses in each major and minor as specified below - these credits must be earned in distinct courses; that is, no course can be used to fulfill this requirement in more than one major or minor.
- Earn a minimum of 6 credits in 300-level or higher courses at EMU in each minor
- Earn a minimum of 9 credits in 300-level or higher courses at EMU in each major that requires a minor.
- Earn a minimum of 15 credits in 300-level or higher courses at EMU in each major that does not require a minor
Transfer credit will be awarded for courses taken at colleges and universities that are accredited by one of the recognized regional accrediting bodies only if the courses are college-level (equated to 100-level or above at EMU) and the student earned a “C” (or 2.0 on a 4 point scale) or better. Transfer credit may be awarded on a case-by-case basis for college-level courses in which a “C” (2.0) or better was earned at institutions outside the U.S. or at non-accredited U.S. institutions; individual departments/schools conduct the internal review of such courses within EMU, and additional documentation may be required. Please note: EMU awards only credit for transferred courses; grades are not used in the calculation of an EMU GPA.
Earn a minimum cumulative GPA of 2.0 in courses taken at EMU in order to graduate. In addition, a minimum cumulative GPA of 2.0 must be reached in each major and minor. Only courses taken at EMU and those applied to a student’s major or minor will be used in the calculation of their major and minor cumulative GPAs. (Note: some programs may require a higher GPA - check with your program advisor.)

General Education Requirements EMU’s General Education Program requires students to choose from a menu of approved courses in several different areas; do not assume that other courses in the same department or with similar names will fulfill these requirements. A detailed description of General Education requirements is available in the General Education section of the catalog.

Students who transferred to EMU may have modified general education requirements based on Michigan Transfer Agreement (MTA) or articulation agreements; consult your academic advisor for additional information.