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University at Albany Undergraduate Bulletin - 2003-2004

Department of Economics


Professors Emeritae/i

Jean Auclair, Ph.D.
University of Lille (France)

Melvin K. Bers, Ph.D.
University of California, Berkeley

Jack E. Gelfand, Ph.D.
New York University

Pong S. Lee, Ph.D.
Yale University

Richard J. Kalish, Ph.D.
University of Colorado

Donald J. Reeb, Ph.D. (Collins Fellow)
Syracuse University

Edward F. Renshaw, Ph.D.
University of Chicago

John H. Slocum, Ph.D.
Cornell University


Betty C. Daniel, Ph.D.
University of North Carolina

Michael Jerison, Ph.D.
University of Wisconsin

Terrence W. Kinal, Ph.D.
University of Minnesota

Kajal Lahiri, Ph.D.
University of Rochester

Hamilton Lankford, Ph.D.
University of North Carolina, Chapel Hill

Irene Lurie, Ph.D.
University of California, Berkeley

Carlos Santiago, Ph.D.
Cornell University

Michael J. Sattinger, Ph.D.
Carnegie Mellon University

Hany A. Shawky, Ph.D.
Ohio State University

Jogindar S. Uppal, Ph.D.
University of Minnesota

Kwan Koo Yun, Ph.D.
Stanford University

Associate Professors

Bruce C. Dieffenbach, Ph.D.
Harvard University

Jae-Young Kim, Ph.D.
University of Minnesota

Laurence J. Kranich, Ph.D.
University of Rochester

Thad W. Mirer, Ph.D.
Yale University

James H. Wyckoff, Ph.D.
University of North Carolina, Chapel Hill

Assistant Professors

Kenneth R. Beauchemin, Ph.D.
University of Iowa

Stacey Chen, Ph.D.
University of Rochester

Diane M. Dewar, Ph.D.
University at Albany

John B. Jones, Ph.D.
University of Wisconsin, Madison

Nadav Levy, Ph.D.
Northwestern University

Gerald Marschke, Ph.D.
University of Chicago

Adrian Masters, Ph.D.
University of Pennsylvania

Rui Zhao, Ph.D.
University of Minnesota

Adjuncts (estimated): 16
Teaching Assistants (estimated): 5

The major in economics is useful as training for employment in business, government, and nonprofit agencies and as preparation for further study at the graduate level. It is also an excellent undergraduate background for study in professional schools of law, accounting, business administration, public administration, public policy, social work, and others. The department also offers the M.A. and Ph.D. degrees in economics.


Graduates of the undergraduate economics program work as financial analysts, finance and credit officers for insurance companies and banks, economic analysts for corporations, policy and legislative fiscal analysts, and business officers for nonprofit and government organizations, as well as administrators and heads of businesses and government agencies.

Degree Requirements for the Major in Economics

General Program

B.A.: A minimum of 36 credits as follows: A Eco 110M, 111M, 300, 301 and 320; 18 additional credits in economics at the 300 level or above; and A Eco 210 or A Mat 106, 111, 112 or 118.

B.S.: A minimum of 41 credits as follows: A Eco 110M, 111M, 300, 301 and 320; 18 additional credits in economics at the 300 level or above; as well as A Mat 111 or 112 or 118 and A Mat 113 or 119. A minor in one of the natural sciences, mathematics or the School of Business is also required.

Honors Program

The honors program in economics is designed to provide capable and motivated students with a greater understanding of economics and to better prepare students for graduate and professional schools.

To be accepted in the honors program and to remain within that program, the student must have an average of at least 3.50 in all economics courses applicable to the major and 3.25 in all courses taken at the University. Interested students should file an application with the departmental Director of Undergraduate Studies, after admission to the economics major, for advisement on choosing elective courses and meeting the other requirements of the honors program.

The honors student must complete A Eco 499Z as part of the 36 credit hours of courses required for the economics major in the B.A. degree program, or the 41 hours required for the B.S. degree program. An additional 6-8 credit hours in economics and/or other disciplines, as advised, is required to augment economic research skills. Honors students must also submit a senior honors thesis acceptable to the Economics Honors Committee.

By no later than the second month of the senior year, an honors student must submit a thesis proposal to the Economics Honors Committee. The proposal normally arises from consultation with the faculty concerning a suitable topic and method of inquiry. The student, with advice and consent of the Economics Honors Committee, will choose a faculty adviser who will assist the student in completing the thesis. Work on the thesis may begin in the junior year, but must be completed while enrolled in A Eco 499Z, the Senior Honors Research Seminar.

The records of the honors candidate will be reviewed by the Economics Honors Committee prior to the candidate's intended graduation date. If the Committee finds that all requirements stated above have been met, then it shall recommend to the department that the candidate be awarded the appropriate baccalaureate degree with honors in economics.

Combined Bachelor's/M.B.A. and Bachelor's/M.P.A. Programs

The combined bachelor's degree in Economics and Master's of Business Administration (MBA) and the combined bachelor's degree in Economics and Master's of Public Administration (MPA) both provide students of recognized academic ability and educational maturity the opportunity to fulfill integrated requirements for the undergraduate and master's degree programs. In addition to benefiting from important educational linkages between the programs, it is possible to earn both degrees in five, rather than six, years - thus saving one year of time and tuition costs.

Students may be admitted to the combined degree program at the beginning of their junior year, or after the successful completion of 56 credits, but no later than the accumulation of 100 credits. A cumulative grade point average of at least 3.2 (MPA) or 3.3 (MBA) and three supportive letters of recommendation from faculty are required. To qualify for the bachelor's degree (BA or BS), students must meet all requirements for the undergraduate major and minor described previously, the minimum 60- or 90-credit liberal arts and sciences requirement, the general education requirements and the residency requirements.

To qualify for the master's degree (MBA) or (MPA), students must meet all requirements as outlined in the Graduate Bulletin including the completion of required graduate credits and any other conditions such as a research seminar, thesis, comprehensive examination, professional experience, and residence requirements. Up to 12 graduate credits may be applied simultaneously to the requirements for the baccalaureate. Students interested in learning more about these programs should contact the Director of Undergraduate Studies in the Department of Economics.

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