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Our Programs

The Department of Economics at Northern Illinois University offers graduate programs leading to M.A. and Ph.D. degrees in economics. Students in both programs take a set of core courses in mathematical methods, econometrics, and micro and macro theory in addition to the applied areas of Labor Economics, Public Economics, Financial Economics, and Econometrics. Our graduates obtain academic appointments in colleges and universities throughout the U.S. and in many foreign countries while others hold quality positions in the public or private sector. 

M.A. in Economics

Our M.A. in Economics focuses on training students to work as data analysts by requiring several courses in econometrics. Once students have completed the core set of courses they may complete the required 30 credit hours of study with electives from our department in the areas of health economics, financial markets, and public economics in addition to our Ph.D. level field courses. Students generally complete their degree by writing and submitting a research paper for faculty approval within two years. Students who have completed this program have found employment among many private firms and government agencies, or gone on to a Ph.D. program at NIU or another university.

We also provide a concentration in Financial Economics with electives specifically designed for students with interests related to financial markets.

Ph.D. in Economics

Our Ph.D. in Economics prepares students to work as either data analysts or academic researchers and professors. After completing three semesters of theory coursework and preliminary exams, students complete at least two fields among the four we specialize in. Additionally, a special arrangement with the Division of Statistics at NIU allows Ph.D. students to simultaneously earn their M.S. in Statistics. Select students are awarded a graduate assistantship which provides a waiver of instructional fees and a stipend in exchange for working as teaching assistants with our faculty. Students who remain in good standing and are making sufficient process can expect renewals or up to five years of funding which is sufficient for most to successfully defend their dissertation. Students who have earned their doctoral degrees have been placed in several tenure-track positions at colleges and universities across the U.S. and internationally. Other students have found employment as senior researchers at private companies or government agencies within the U.S. and abroad.

Other Graduate Programs

Students not enrolled in a graduate program within the department may also earn a Certificate of Graduate Studies in Financial Economics and students enrolled in the College of Law can apply for dual enrollment with the department to earn their M.A. in Economics while working toward their JD.