A solid understanding of economic concepts and theory is important for understanding international policy questions. Microeconomics and Macroeconomics are the critical foundation courses that provide the necessary concepts and tools that are used throughout economics. All SAIS M.A. students must demonstrate proficiency in the analytic approaches, concepts and basic theories/models of these economic disciplines. The first requirement of an International Economics concentration is to know microeconomics and macroeconomics at the “intermediate level” of U.S. universities. The use of mathematics is an integral part of economics. The basic mathematics skills used in economic analysis, i.e., multivariate algebra, logarithms/exponentials, basic derivatives and constrained optimization are imbedded in both the Microeconomics and Macroeconomics courses so that students can learn fundamental economics concepts and methods in a professional manner. All students who have accepted an admissions offer from SAIS will receive a DVD set entitled "Interactive Pre-Calculus Course" and "Interactive Basic Calculus for Economists Course". These DVDs contain materials that should be a review of high school math concepts, namely algebra and simple pre-calculus. These are the concepts and skills required before taking the Microeconomics and Macroeconomics courses at SAIS. Students have three alternative avenues to demonstrate proficiency in the fundamentals of Microeconomics and Macroeconomics which are: passing the Waiver Exams; taking the courses in Pre-Term and taking the courses in normal course sessions. Microeconomics and Macroeconomics courses are offered in fall, spring, summer semesters and Pre-Term. Students that have already taken the required corresponding courses and can meet all qualifications can consider waiving out of micro and/or macro economics
(Click here for: Waiver Exams). Pre-Term is an intensive 4-week session offered just prior to the start of the regular academic year. It is held in both Washington, DC and Bologna, Italy to allow students the opportunity to begin work on the fundamental economics courses (Click here for: Pre-Term). Microeconomics and Macroeconomics are prerequisites for many other courses in the economics program. Students must fulfill the Microeconomics requirement before enrolling in International Trade Theory and the Macroeconomics requirement before enrolling in International Monetary Theory. Many other economics electives require Microeconomics or Macroeconomics as prerequisites. Therefore, we encourage students to complete these two courses as soon as possible in their SAIS academic career. For students with a solid background in algebra and a year of high school or semester of college calculus, and would like to see the material in more detail to gain a deeper understanding, we offer accelerated versions of micro and macro economics courses. These courses are for students with a stronger interest in learning economics for professional or personal reasons or for those who have previously acquired this level of economics but would rather sit a course again than study for the waiver exam. These courses act somewhat like college honors courses in that they are smaller and somewhat more intense than the larger regular course sessions. They also presume that students are comfortable with the quantitative tools mentioned above. For 2007-2008, Accelerated Microeconomics is offered in Pre-Term and the fall semester. Accelerated Macroeconomics is offered in the fall semester only. If you are unsure whether or not you should take the accelerated courses, please contact the International Economics Program office at 202-663-5684 or by e-mail: econwaiver@jhu.edu. For more content information on these courses please (Click here for: Course Descriptions).
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