The MA in global political economy and finance provides students with a sophisticated understanding of the world economy in historical context, the political economic analysis of the dynamics of contemporary world capitalist society, and state-of-the-art tools of political economic and financial analysis.
The program offers the training required to pursue advanced degrees in economics, finance, business, law, international relations, public policy, and related fields, and provides students with the analytical and policy skills required for careers in the fields of finance, government, business, labor organization, and international development. In addition to offering a rigorous course of study in economic and statistical analysis, this program provides a thorough grounding in historical and contemporary political economy and finance, culminating in an internship or mentored research project. A flexible elective option allows for concentrations in classical political economy, international and development economics, financial economics, environmental economics, or the economics of labor markets and race, class, and gender.
The master of arts program in global political economy and finance consists of seven required courses and three electives as described below. There is no written comprehensive examination; the MA degree is awarded for successful completion of the required 30 credits.
The master of arts program provides depth of knowledge and analytical skills in the field of economics with the flexibility of a wide range of elective choices, allowing each candidate to shape an individual concentration, such as economics and finance, classical political economy, interdisciplinary political economy, urban economics, or development economics.
A total of 30 credits is required for the MA in economics. A maximum of three credits may be transferred from other institutions. Students may apply for transfer credits after completing six credits at The New School for Social Research. All courses are for three credits.
The master of arts program consist of four core courses; five elective courses, up to three of which could be taken in other departments of The New School for Social Research or at the Milano School of International Affairs, Management, and Urban Policy; and an internship or mentored research. There is no written examination for the MA in economics, which is awarded for successful completion of the required credits.
Students who entered to the MA program before fall 2000 semester may have received the MA in economics under the old requirements, which included the "en passant" method. Consult the Department of Economics Procedures Guide for the old requirements.
The MS in economics is a terminal degree designed for students who wish to study economics in more depth than the MA allows, particularly to develop their research skills in economic modeling and econometrics, without being committed to completing a PhD degree. The 45-credit program provides a solid grounding in the history and contemporary development of political economic tools and, through education in the contemporary quantitative tools of analysis, extends this training to include a significant part of the PhD analytical core curriculum. The master of science degree is awarded for successful completion of 45 credits and passing of the MS examination.
The master of science program consist of six core courses and eight elective courses.
The Master of Science Examination
The MS in economics requires that a student pass the MS examination offered twice a year. (With approval of the Department of Economics, a qualifying paper may be accepted in place of the MS examination.)
The New School for Social Research offers a distinctive doctoral program in economics. Core courses in microeconomics, macroeconomics, and econometrics are supplemented by courses in Marxian, post-Keynesian, and neo-Ricardian theory. Students develop two areas of concentration prior to beginning work on a dissertation.
Admission to the PhD Program
Students who complete a master's degree in economics at The New School are not automatically advanced into the PhD program. Acceptance to doctoral study requires separate application.
Students matriculated in a master of art program in the Department of Economics can may petition to continue study toward the PhD degree as soon as they have registered for 30 credits. A department subcommittee review each petitioner's academic record and makes a decisions based on the qualifications of the student and the needs of the department. Three minimum conditions must be fulfilled for the subcommittee to consider a petition to continued study toward the PhD:
Transfer Credits: Students with prior graduate work or with an MA from another university
Students who wish to transfer to The New School for Social Research from other institutions must have a cumulative grade point average of 3.0 or better in their prior graduate work to be considered for admission.
If admitted, transfer students must complete a minimum of 12 credits at The New School for Social Research with a grade point average of 3.5 or better, including at least one PhD core course (see below) with a grade of 3.5 or better. The student must apply to transfer credits from prior institutions as soon as possible after completing the 12 credits.
Up to 30 credits may be transferred to The New School for both regular and seminar courses taken at other institutions. No transfer credit will be granted for courses deemed by the department not relevant to the PhD in economics or for any course for which a grade of less than 3.0 was assigned.
Once the application for transfer credits is reviewed and a decision made, if the sum of transfer credits and credits earned at The New School for Social Research totals at least 30 credits, the department will review the student's qualifications for continuation in PhD program.
PhD Course Requirements
A total of 60 credits is required for the PhD degree, including the 30 required for the MA degree. Up to nine credits may be taken as Directed Dissertation Study (GECO 7991). The following courses must be included within the 60 credits.
Students must receive grades of 3.0 or better in all four core courses to continue. (A student who receives a grade of less than 3.0 in a core course is permitted to retake the examination in that course within one year of the end of the semester in which the course was taken. No core course examination can be taken more than twice.) Students are not required to take a PhD qualifying examination in the core course material, although they are free to select advanced macroeconomics, advanced microeconomics, advanced political economy, or advanced econometrics as elective fields from the areas of concentration.
Areas of Concentration
In addition to the core theory curriculum, each student chooses two areas of concentration, which will be the subjects of the student's comprehensive examinations.
The Department of Economics regularly offers the following areas of concentration:
Other areas of concentration may be available subject to faculty availability:
All students must select one concentration from the list above. The second concentration can also be selected from the list or students may, if they wish, define their own second concentration or define an interdisciplinary concentration by combining concentrations from the list above. Individually defined concentrations are subject to approval of the department, which may depend on faculty availability.
Three credits must be fulfilled in the form of seminar requirements. Seminar credits can be earned only after a student has completed Advanced Microeconomics I, Advanced Macroeconomics I, and Advanced Econometrics I. Seminar credits can be earned only from work associated with an upper-level course. Seminar credits cannot be earned through directed dissertation study. All seminar credits require faculty approval. Transfer credit cannot be used to fulfill the seminar requirement.
Grade Point Average
The award of the PhD degree requires a final cumulative grade point average of 3.5 or better.
PhD Qualifying Examination
See the academic calendar for examination dates. Student can request permission from the department to take the PhD qualifying examinations after they have
The PhD qualifying examination will consist of either:
Although there are no formal requirements in mathematics, students must have sufficient competence to pass all courses that use mathematical techniques, such as the PhD theory core courses.
The Department of Economics requires literacy in one foreign language relevant to the student's intended program of study. Literacy must be shown by translating from the chosen language a substantial section of a reading on economics designated by the department. Requests to take the exam may be submitted to the department secretary. Alternatively, a student may satisfy the language requirement by showing competence in mathematics, as demonstrated by a grade of 3.5 or higher in GECO 6189 or the equivalent.
Dissertation Proposal, Oral Examination, and Dissertation
A student is considered a doctoral candidate only after passing a dissertation proposal defense, which also serves as an oral examination. Students must first submit a dissertation proposal to the supervisor of their dissertation committee. This proposal must be approved by the three members of the dissertation committee prior to the oral examination. Students are also responsible for scheduling a date for their oral exam through the University Records Office. This scheduling must be done six weeks prior to the date of the oral defense. The student must pass this examination in the area of the proposed dissertation research. The language requirement must be met, and no more than six credits may be outstanding before the oral examination can be scheduled.
The student must complete and defend the dissertation in a manner acceptable to The New School for Social Research (see Dissertation Requirements in the Admission section of this website).
The degree of master of philosophy in economics is conferred upon a registered student who has fulfilled all the requirements for the PhD in economics except the dissertation proposal defense and the written dissertation.
Satisfaction of the PhD Dissertation Requirement in Economics Extra Muros
At any time within ten years from the date the MPhil degree was awarded and subject to approval by the department chair, a recipient of the MPhil in economics who has not continued studies in residence at the university may present to the university a substantial body of independent and original published scholarly work in lieu of a sponsored dissertation toward completion of the requirements for the PhD degree.
An applicant who wishes to submit material prepared extra muros should ascertain through the chair of the Department of Economics the specific requirements of the department. Recipients of the MPhil degree not in residence at the university are not entitled to guidance or supervision by the faculty. The submitted material will be reviewed by the chair in consultation with other members of the faculty to determine whether or not the candidate is eligible to sit for a final examination.
If the decision to examine the candidate is favorable, the chair will name a committee of at least five members for that purpose, including four from the Department of Economics, one of whom will chair. The examination must satisfy the committee that the quality of the candidate's work meets the standards of the university for a doctor of philosophy in economics. This examination may be taken only once. It is either passed or failed. The decision of the committee is final.
The applicant must register for maintenance of status for the term in which he or she sits for the final examination.
Department of Economics Procedures GuideMore details about MA and PhD degree requirements can be found in the Department of Economics Procedures Guide, available from the department student advisors or downloadable as a PDF from the website.
The Department of Economics participates in the university's Democracy and Diversity program in South Africa and maintains student and faculty exchange programs with the University of Bremen (Germany), the University of Frankfurt (Germany), and the University of Siena (Italy).
Students in the Department of Economics can take as electives a wide range of courses in economic policy, public finance, urban economics, and health economics offered by the Milano School, one of the schools that constitute The New School for Public Engagement. A short list of Milano School courses recommended for graduate economics students would include MHTC5020 Political Economy of the City; MIOR5074 Race, Gender, and Public Policy; MPLC6516 Public Finance and Fiscal Policy; and MPLC7010 Advanced Policy Analysis. Visit the University's
to see the course offerings of the Milano School with descriptions and schedules.
General Admission Contact
The New School for Social Research
Office of Admission
79 Fifth Avenue, 5th FloorNew York, NY 10003
212.229.5600 or 800.523.5411
Department of Economics
6 East 16th Street, Room 1124A
New York, NY 10003
Tel: 212.229.5717 ext. 3044
Chair: Mark Setterfield
Senior Secretary: Kamilla Sakkijha email@example.com
Student Advisor: Ibrahim Shikaki EconAdv@newschool.edu
Advisor Office Schedule
Department of Economics Procedures Guide