Graduate School [Economics Program]

Aim of the program

To improve your ability to perform economics/social science analysis based on a deeper understanding of economics, econometrics, and game theory supported by psychology, philosophy, science, engineering and mathematics, including statistics.

Outline of the program

You will study advanced concepts in micro-economics and macro-economic dynamics, econometrics, game theory, and cognitive psychology. You will also study basic subjects such as mathematics, statistics, and optimization theory, if needed. As well as learning from your own supervisor, you will also participate in the work-in progress seminars in which you will learn much from other professors whose specialties are related to your subjects. Furthermore, you will be encouraged to present papers at international conferences, and to gain work or research experience in Japan and internationally through our “intern system”. This is part of the project adopted as the Initiatives for Attractive Education in Graduate Schools in 2005 by the Ministry of Education and Sciences. Among all programs from science and technology universities in Japan, only our program was selected for the most advanced economics at graduate school.

Features of the program

1. International standard textbooks
   
   • In the master’s program, we will use “Microeconomic Theory by Mas-Colell, Whinston and Green” and “Econometric Analysis of Cross Section and Panel Data, by Wooldridge” as the main textbooks.
   • Teaching Assistants will teach you fundamental methods of basic analysis.
2. Objective marking system, and shortened time required
   
   • Advanced candidate system: Students must become advanced candidates before starting to write up their doctoral thesis. To become an advanced candidate, you have to perform satisfactory in the coursework, present a satisfactory research proposal (for the doctor course), and give a satisfactory presentation in the work-in progress seminar. Your research proposal will be assessed by a number of staff with a related major.
   • If you achieve an excellent mark in the first year of the master’s course, you will be able to submit your research proposal in the second year, and if you pass the assessment, you may become an advanced candidate and start writing your doctoral thesis as soon as you finish the master’s course.
3. Small classes for maximum intensiveness and interaction
   
   • The work-in progress seminars provide a chance to have tutorials with a number of staff.
4. Increased transparency of the criteria in conferring the doctor’s degree
   
   • Rather than just assessing peer reviewed papers published by students, as we did in the past, we also consider discussion papers and papers presented in international conferences.
   • We have an objective score system.
5. Teaching the latest in economics
   
   • Elucidating human behavior by investigating new data and by most up-to-date game theory, experimental economics, and cognitive psychology.
   • International trade and growth theory by the latest macro-economic dynamics.
6. Research and education by international active professors as follows

Teaching staffs

HIDANO, Noboru, Professor (Doctor of Engineering) (Tokyo Institute of Technology) Ecological and Environmental Economics, Real-estate Economics, Behavioral Economics:

The Economic Valuation of the Environment and Public Policy: A Hedonic Approach, Edward Elgar (2002)
Benefits of Participating Contingent Valuation Mail Surveys and their Effects on Respondent Behavior: A Panel Analysis Ecological Economics (2005), Vol.52, Issue 1, pp.63-80. (co-authored)

HIGUCHI, Yoichiro, Professor (Ph.D. in Economics) (Australian National University) Multivariate Studies:

A Present Value Model of Real Estate with Interneighborhood Dependency of Incomes, Journal of Real Estate Finance and Economics (2001), Vol.23, no. 1, pp.47-76 (co-authored).

KANEKO, Akihiko, Associate Professor (Doctor of Economics) (Osaka University) Macro Economic Dynamics:

The Long-Run Trade Pattern in a Growing Economy, Journal of Economics (2003), Vol.79(1), pp.1-17.
Terms of Trade, Economic Growth and Trade Pattern: A Small-Open Economy Case, Journal of International Economics (2000), Vol.52, pp.169-181.

MUTO, Shigeo, Professor (Ph.D. (Operations Research) (Cornell University) Game Theory:

Dynamic Coalition Formation in the Apex Game, Theory and Decision (2004), Vol.56, pp.153-163 (co-authored).
Farsighted Stability in an n-Person Prisoner's Dilemma, International Journal of Game Theory (2005), Vol.33, pp.431-445 (co-authored).

USAMI, Makoto, Associate Professor (Doctor of Law) (Nagoya University) Philosophy of Law:

Retroactive Justice: Trials for Human Rights Violations under a Prior Regime, in Burton M. Leiser and Tom D. Campbell (eds.), Human Rights in Philosophy and Practice (2001), Aldershot, England: Ashgate, pp. 423-442.

YAMATO, Takehiko, Professor (Ph.D. in Economics) (University of Rochester) Experimental Economics:

Non-Excludable Public Good Experiments, in Games and Economic Behavior (2004), Vol.49, pp.81-102 (co-authored).

HIBIKI, Akira, Adjunct Associate Professor (Doctor of Economics) (Sophia University) Environmental Economics:

An Institutional Framework for Analysis of Voluntary Policy: The Case of Voluntary Pollution Prevention Agreements in Kita Kyushu, Japan, Journal of Environmental Planning and Management (2003) Vol.46 (4), pp.523-543 (co-authored).

MASUI, Toshihiko, Adjunct Associate Professor (Doctor of Engineering) (Osaka University) Global Environment General Equilibrium Modelling:

Analysis of Global Warming Stabilization Scenarios: the Asian-Pacific Integrated Model, Energy Economics (2004), Vol.26, pp.709-719 (co-authored).
Policy Evaluations under Environmental Constraints Using a Computable General Equilibrium Model, European Journal of Operational Research (2005), Vol.166(3), pp.843-855.

1. Mater’s course

1.1 Time required

• Usually two years.

1.2 Course Requirements

• Take one of the following: Philosophy of Law (2 credits), Expressions in Japanese (2 credits; only in Japanese), or Public Policy and Project Valuation (2 credits).
  
• Take the Seminar in Social Engineering (2 credits) and the Work-in-progress Seminar (1 credit) every term.
  
  *Seminar in Social Engineering is a seminar with the supervisor
  *Work-in-progress Seminar is a seminar with a number of staff with related specialties.
• Take 6 of the following 10 subjects:
  

  Advanced Microeconomics (2 credits), Non-cooperative Game Theory and Decision Theory (2 credits), Advanced Public Economics (2 credits), Theory of Macroeconomic Dynamics (2 credits), Experimental Economics (2 credits, subject from another department), Advanced Econometrics for Cross Section and Panel Data (2 credits), Econometrics: Applications and Development (2 credits), Cooperative Game Theory and Normativity (2 credits), Statistical Techniques for Collection of Data and Simulation (2 credits), and Cognitive Science (2 credits, subject from another department)

• Write a dissertation
  
• Pass the final examination.

Note: Of the 30 credits required to obtain the master, 24 must be from subjects provided by the Department of Social Engineering.

1.3 Proposed textbooks

We use the following international standard textbooks which are used in graduate schools worldwide.

• Microeconomic Theory (A. Mas-Colell, et al. Oxford Univ. Press, 1995) Used in “Advanced Microeconomics”, “Advanced Public Economics”, and “Non-cooperative Game Theory and Decision Theory”. Also for part of Theory of Macroeconomic Dynamics, and Cooperative Game Theory and Normativity.
  
• Advanced Macroeconomics (David Romer, Mcgraw-Hill, 1996) (Theory of Macroeconomic Dynamics)
  
• Econometric Analysis of Cross Section and Panel Data (J.M. Wooldridge, MIT Press, 2001) Used in Advanced Econometrics for Cross Section and Panel Data, and Econometrics: Applications and Development

Other related optional subjects (most are in Japanese):

• Theory of Environmental Economics (2 credits), Frontier of Environmental Economics and Policy Studies (2 credits), Modeling of Global Environment and Economic Growth (2 credits).

1.4 Proceeding to the doctoral course

If you intend to proceed to the doctoral course you may be exempt from writing the master thesis and skipping doing the first year of the doctoral course. First you will need to get recognition as an “expected doctoral student” and then you will need to meet the requirements to proceed to the doctoral course:

• To be recognized as an “expected doctoral student” i.e. considered to be an excellent candidate for the doctoral course you must have:
  
  • A) obtain an average score of at least 85 points in the following subjects: Advanced Microeconomics, Non-cooperative Game Theory and Decision Theory, Advanced Econometrics for Cross Section and Panel Data, Theory of Macroeconomic Dynamics, and Advanced Public Economics.
    
  • B) been judged, by at least three staff members, infrom your performance in the Work-in-progress Seminars as having has adequate research skills.
• If you have been recognized as an expected doctoral student, to actually proceed to the doctoral course, you must
  
  • obtain the required credits (4 credits from the compulsory subjects) and 12 credits in the Economics Program by the second year of the master’s course,
    
  • pass the research proposal examination held in June in the second year of the master’s course, and. The research proposal should include a literature review related to your proposed research and should clarify the originality of your proposed research. You will give a 30-minute presentation about your proposed research, followed by a 30-minute discussion, which will be assessed by at least three faculty members
    
  • present a discussion paper instead of the master’s dissertation by a set the deadline.

1.5 Changing Program

To change program, you will need permission from the supervisor, and the program directors of both programs, in addition to meeting the entrance requirements of the course you wish to enter.

2. Doctoral course - New Paradigm Course

The doctoral course will train students to become leaders who can make innovations beneficial to the society, or researchers who can construct world-class theories, and have excellent communication skills. They will take courses intended to enhance logical thinking, sense of social ethics, and power of expression to increase their communication skills. Students will also have a chance to work as an intern in a research institute outside of the university.

2.1 Time required

Usually three years.

2.2 Course Requirements

• Take one of the following subjects: Philosophy of Law (2 credits), Expressions in Japanese (2 credits; only in Japanese), or Public Policy and Project Valuation (2 credits).
  
• Take the Seminar in Social Engineering (2 credits) every term. Work-in-progress Seminar (Economics)(2 credits).
  
• Take Planning Administration A/B (1 needed for each) if you continue working outside the university
  
• Pass the examination to become an “advanced candidate”
  
• Write a dissertation
  
• Pass the final examination

2.3 Requirements to become an advanced candidate

1. Finish the subjects required to complete the master’s course (4 credits from the compulsory subjects, and 12 credits from the optional subjects), and the Work-in-progress Seminar (Economics) at least for two terms.
2. Get at least 550 in TOEFL (CBT 213) or 730 in TOEIC.
3. Pass the research proposal examination, a 30-minute presentation followed by a 30-minute discussion, which is assessed by at least three faculty members.

2.4 Requirements to complete the doctoral course

• Finish the midterm presentation at least about nine months before the final presentation
• Have at least 2 doctoral points. Doctoral points are calculated as follows:
  • A paper in an international journal (with peer review): 1.2 point
  • A paper in a domestic journal (with peer review) whose language should be either English or Japanese: 0.5 point
  • A presentation at an international congress (committee members from at least four different countries): 0.3 point
  • A discussion paper in English (submittable to an international journal, and approved by at least three members of the faculty one of whom should be the supervisor): 0.5 point
  • Research (studying abroad, or joint research) which is equivalent to an internship and deemed to be at a certain level (need a report to prove the level): 0.3 point
  • In the case of a joint paper, 2/3 point for a paper by three authors, and 1/n point for a paper by more than four authors.
    
    　 Papers with similar contents are only calculated once. In this case, the paper with the higher point will be added to the doctoral point.
• Pass the doctoral thesis examination

2.4 Changing the course, or the program

To change the course or the program, students must obtain permission from their supervisor, and the course director.

3. Integrated Doctoral Education program for early completion

Aim of the program

To facilitate excellent students from all over the world to perform better analyses in economics or social science by deepening their knowledge of economics, psychology, mathematics and research capacities.

Outline of the program

You will learn advanced theories in micro-economics and macro-economic dynamics, econometrics, game theory, and cognitive science. You will also study core subjects such as mathematics, including statistics, and optimization theory if needed. You will not only learn from your supervisor but also from the work-in progress seminars in which you will be able to get advice from teaching staff with specialties in a range of related fields. Furthermore, we will encourage you to present papers at international conferences, and get work or research experience domestically and internationally by using our intern system. This is part of the project adopted as the Initiatives for Attractive Education in Graduate Schools in 2005. We expect students to graduate in 3-4 years after entering the master's course. Furthermore, students in the joint program will be given priority in the chance to work as a teaching or research assistant.

3.1 Admission to the Integrated Doctoral Education program

• Selection of the students for the integrated program are held 5 and 17 months after entering the master's course.
• Applicants are evaluated by the following criteria
  • At least 550 in TOEFL (CBT 213), or 730 in TOEIC within the past 5 years.
  • Requirements if you apply 5 months after entering the master's course: excellent marks in the entrance examination, and in micro/macro economics, game theory, and econometrics coursework in the undergraduate course, and in the master's economics program coursework and the work in progress seminar.
  • Requirements if you apply 17 months after entering the master's course:
    • An average score of at least 85 points in the following subjects: Advanced Microeconomics, Non-cooperative Game Theory and Decision Theory, Advanced Econometrics for Cross Section and Panel Data, Theory of Macroeconomic Dynamics, and Advanced Public Economics.
    • Been judge by at least three staff in your performance in the Work-in-progress Seminars as having adequate research skills.
    • Passed the research proposal examination held in June/December in the second year of the master’s course. The research proposal should include a literature review related to your proposed research and especially should clarify the originality of your proposed research. You will give a 30-minute presentation about your proposed research, followed by a 30-minute discussion, which will be assessed by at least three staff.
  • Applicants from other departments are expected to fulfill the above requirements.

3.2 Course requirements

Basically, the same as that for the normal economics program.

• We recommend that you take joint lectures, such as the school international seminar and the school project management, held by the Graduate School of Decision Science and Technology.
• Advanced candidate students in this program must take the dispatch project course in the department of Social Engineering that includes at least 3 months training at an overseas research institution.

3.3 Conferment of the master’s degree

You must fulfill the following 4 requirements:

1. Obtain all the credits required for the departments’ economics program
2. Obtain all the credits required for the University’s master’s degree
3. Make a special research presentation
4. Pass the final examination.

3.4 Requirements to become and advanced candidate

See section 2.2

3.5 Requirements for the completion of the Integrated Doctoral Education

In addition to requirements shown in section 2.3, you must take the dispatch project course (see Section 3.2).

3.6 Midterm assessment

Those in the program are required to present their research progress to at least three members of faculties before they become an advanced candidate (14 months after entering the master’s course), and 1 year after becoming an advanced candidate ( longer if absent or spent time studying overseas). Students might be required to transfer to the normal program or extend their study period depending on the assessment of their presentation.

3.7 Transferring from the Integrated Doctoral Education program to the normal program

• You must obtain permission from your supervisor and the course director. The master’s degree is assessed as per the normal course, and if you have met the requirements you will be conferred the master’s degree. You will be conferred the normal doctor’s degree if you have met the requirements.

4. Model Case

4.1　Normal master’s and doctoral course

Master’s course (two years)

First year: course work
Second year: advanced course work, and master’s dissertation (also encouraged to obtain business or research experience by intern)

Doctoral course (three years)

First year: course work, and preparation for the advanced candidate

Course work: 4 credits from the compulsory units, 12 credits from the optional units. Optional units: Advanced Microeconomics (2 credits), Non-cooperative Game Theory and Decision Theory (2 credits), Advanced Public Economics (2 credits), Theory of Macroeconomic Dynamics (2 credits), Experimental Economics (2 credits, subject from other department), Advanced Econometrics for Cross Section and Panel Data (2 credits), Econometrics: Applications and Development (2 credits), Cooperative Game Theory and Normativity (2 credits), Statistical Techniques for Collection of Data and Simulation (2 credits), and Cognitive Science (2 credits, subject from other department). Finish the Work-in-progress Seminar (Economics).

At the end of the first year: exam for the advanced candidate. Those who passed the exam should start the doctoral thesis.

 

Second year: midterm proposal

At the end of the third year: completion of the doctoral thesis, and the final exam.

4.2 Joint program for early completion

Master’s course (two years)

First year: course work

The announcement of the result of the advanced placement exam is in February for those who entered in April. Candidates should prepare for the research proposal due in June.

Second year: advance course work (also encouraged to obtain business or research experience by intern)

Those who passed the research proposal exam (June) should start their doctoral thesis. They will become an advanced candidate immediately after they suffuse the requirements. They will receive the master’s degree after they propose the discussion paper and pass the proposal meeting. This paper is the basis for the doctoral thesis.

Doctoral course

4. Career options after finishing the program

Master’s course

Government Office, Companies, Research Institute, Think Tanks, Consultants etc. An analyst who received mathematical, quantative, and economic analysis training with business experience.

Doctoral course

Universities, Government Office, Research Institutes, Think Tanks, Consultants, International Organizations etc. A researcher who can research internationally with advanced mathematical, quantative and economic analysis skills. An economic analyst with advanced mathematical, quantitive and economic analysis skills.

top of this page