International Economics | Specializations in Economics

The International Economics program offers specializations within economics for those students with a strong background or interest in economics who wish to pursue a set of elective courses in one particular area.  All of the specializations involve completion of the basic and core required economic courses:

300.700  Microeconomics  or  300.699  Accelerated Microeconomics
300.701  Macroeconomics   or  300.706  Accelerated Macroeconomics
300.707  International Trade Theory  or  300.851  Accelerated International Trade Theory
300.708  International Monetary Theory  or  300.852  Accelerated International Monetary Theory
PLUS a combination of required courses from area-specific lists.

Specializations are offered in three areas of economics.  The links below define the requirements for each specialization above the basic and core required courses for the International Economics concentration:

Specialization in Quantitative Methods and Economic Theory  - focuses on quantitative methods and advanced theory issues required for careers involving quantitative and technical economic analysis.

Specialization in International Finance  - focuses on financial markets and financial decision making in the area of international economics.

Specialization in Development Economics  - focuses on a range of issues of developing and transitioning countries, at both a microeconomic and macroeconomic level.

Completion of the requirements in a specialization will result in a formal indication of the specialization on the student's transcript. Completion of the requirements for any of the specializations satisfies the International Economics concentration requirement for the SAIS M.A. degree.  Students pursuing a specialization are still required to pass the oral examination in international economics.  The oral exam will continue to focus on the understanding and application of the economic issues covered mostly in the core courses. However, students in a specialization may face some questions examining their expertise in their area of specialization.

These specializations do not change the requirement of a concentration in an examination field outside of International Economics. They are simply an option for students wishing to indicate a focus of study within the field of international economics.

It should be recognized that these specializations are significantly more demanding in terms of economics knowledge and workload than the general economic requirement.  Students with no prior background in economics, as well as those students who do not fulfill the basic requirements (Microeconomics and Macroeconomics) before starting their first full semester are discouraged from considering a specialization.

Double Counting Courses for Specializations
Courses that appear in multiple specialization lists may be counted towards only ONE specialization.

Note on Cross Listed Courses:
Be aware that the International Economics Program reviews the elective courses listed in each specialization yearly and that non-economics department courses may be added or deleted.  Any changes will be announced at the beginning of each academic year.

Specialization in Quantitative Methods and Economic Theory

CLICK FOR CHECKLIST FORM

Required Courses for the Specialization:

     1. 340.710  Econometrics (advanced math section in DC is recommended)

     2. 340.707  Applied Econometrics for Development Economics or
         340.731  Applied Econometrics or
         340.735  Macroeconometrics

PLUS at least TWO additional courses from the following lists:

     3.  ONE of the following courses:

        300.743  Advanced Topics in Trade Theory
        300.744  Advanced Topics in Monetary Economics
        320.740  Cost-Benefit Analysis
        340.734  Quantitative Global Economics

     4.  ONE of the following courses:

        300.717  International Trade System
        300.718  International Monetary System
        300.743  Advanced Topics in Trade Theory
        300.744  Advanced Topics in Monetary Economics
        320.740  Cost-Benefit Analysis
        340.707  Applied Econometrics Tools for Development Economics
        340.734  Quantitative Global Economics
        680.851  Economics of Natural Resources
        680.852  International Environmental Economics

        300.728.20  Public Sector Economics - Bologna
        300.737.20  Seminar in European Monetary Integration - Bologna
        380.743.20  Environmental and Resource Economics - Bologna
        380.754.20  Commercial Policies: Theories and Institutions - Bologna
        380.775.20  Regulation Policies and Industrial Management - Bologna

GRADE REQUIREMENT
In order to receive the Quantitative Methods and Economic Theory Specialization, students must maintain a B+ average in the four courses used for the specialization. Students not maintaining a B+ average in the four required courses will not be awarded the specialization and will just be credited with completing the International Economic Concentration requirement.

If you have questions pertaining to the specialization in Quantitative Methods and Economic
Theory please contact:  Professor Cristino Arroyo.

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Specialization in International Finance

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Required Courses for the Specialization:

   1.    380.761  Multinational Corporate Finance

    2.   ONE of the following case courses:

        380.709  International Tax and Business Planning
        380.763  Case Studies in International Financial Transactions
        380.776  Financial Sector Reform and Development
        380.778  Private Equity in Developing Countries
        380.781  Applied Corporate Finance (Bologna)
        380.834  Project Finance

PLUS at least TWO additional courses from the following lists:

    3.   ONE of the following international finance field courses:

        380.722  International Financial Markets
        380.725  Global Bond & Structured Financial Instruments
        380.771  Financial Derivatives and Risk Management
        380.772  Global Investment Management
        380.840  Global Financial Markets/ Institutions

   4.  ONE course from the following list (not counting courses used to satisfy requirements above):

        320.726  Financing Development
        380.709  International Tax and Business Planning
        380.725  Global Bond & Structured Financial Instruments
        380.760  Corporate Finance
        380.763  Case Studies in International Financial Transactions
        380.771  Financial Derivatives and Risk Management
        380.772  Global Investment Management
        380.776  Financial Sector Reform and Development
        380.778  Private Equity in Developing Countries
        380.781  Applied Corporate Finance (Bologna)
        380.834  Project Finance
        380.840  Global Financial Markets/ Institutions
        390.101  Global Business Strategy
        TBD Applied International Financial Issues (Bologna)

ACCOUNTING REQUIREMENT

Starting with the class graduating in spring of 2009, the finance specialization also requires that students develop a minimum proficiency in Financial Accounting.  This involves two parts:

Part 1:  Financial Accounting - basic accounting and introduction to financial statements

Pass the on-line Introductory Financial Accounting Course through the Professional Development Skills Course Program offered by Career Services.  This course can be taken at any time and requires about 10 - 15 hours and a small registration fee. The on-line address is:

To register on the Harvard Business Online eLearning website to access Financial Accounting: An Introductory Online Course, please go the following link: 

• Click on the "Sign up here" link under New Users
• Fill out the required information, including Organization ID #00050936, to be properly associated with your course.
• Enter the course title "Financial Accounting" in the catalog search area (or leave it blank and click "Go" to see what's available in your Learning Catalog).
• Turn off any pop-up blockers because the payment page will appear in a new window.
• Select "Register" and then click "Confirm." You will then be prompted for payment.
• Proceed with payment and click "Complete Registration." Your registration is now complete.

    OR

Show transcript evidence of at least a semester of financial accounting within the past 5 years with a grade of B- or better.

Part 2:  Applied Financial Accounting - ratio analsysis and/or financial statement building and modeling

Students must take AT LEAST ONE of the following skills courses offered through the Professional Development Skills Course Program of SAIS Career Services to complete Part 2 of the accounting requirement.  The courses are: 

Finance  (on-line HBSP course) - financial statement analysis and basic corporate finance concepts 

Corporate Valuation  - live one weekend seminar at SAIS in DC offered by Training the Street  (Nov 8 - 9, 2008)

• For more click here 

Financial Modeling - live one weekend seminar at SAIS in DC offered by Training the Street (spring semester) 

• For more info see Career Services website

GRADE REQUIREMENT
To receive the International Finance Specialization, students must maintain a B+ AVERAGE across the four courses used for the specialization.  Students not maintaining a B+ AVERAGE across the four required courses will not be awarded the specialization and will just be credited with completing the International Economic Concentration requirement.

Please click the link below for some helpful suggestions on structuring your finance course selections:

Note on sequencing Finance courses

If you have questions pertaining to the specialization in International Finance, please contact:
Professor Gordon Bodnar.

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Specialization in Development Economics

Click for Checklist Form

Required Courses for the Specialization:

   1. 340.710  Econometrics (standard or advanced math)
                   (Must be taken in the first year; many other courses in the
                    specialization will require Econometrics as a prerequisite)

    2.   ONE of the following courses (growth/macro issues):

        320.726  Financing Development
        320.734  Economic Growth and Development
        320.735  Topics in Growth and Development
        320.736  Seminar on Economic Development

        320.715.20  Theories and Models of Economic Development - Bologna

    3.   ONE of the following courses (micro issues):

        320.731  Microeconomics of Development
        320.738  Trade Policy in Developing and Transitional Economies
        320.822  Topics in Microeconomics of Development

    4.  ONE of the following courses (topics or tools):

        Tools:

        320.740  Cost Benefit Analysis
        340.731  Applied Econometric
        320.821  Quantitative Methods of Impact Evaluation
        340.707  Applied Econometrics Tools for Development Economics

         Topics:

        320.742  Trade, Capital Flows and Development
        320.750  Comparative Development and Economic Growth
        320.823  Trade Policy, Trade Liberalization and Poverty
        400.819  Financial Sector Development in Emerging Markets
        810.769  Currency Crises in Emerging Markets

GRADE REQUIREMENT
In order to receive the Specialization in Development Economics, students must maintain a B+ average in the four courses for the specialization.  Students not maintaining a B+ average in the four required courses will not be awarded the specialization and will just be credited with completing the International Economics Concentration requirement.

If you have questions pertaining to the specialization in Development Economics please contact:   Professor Karen Macours.

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