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THE FACULTY OF ECONOMICS AND MANAGEMENT

The Faculty of Economics and Management, Universiti Putra Malaysia (UPM), is anexcellent institution offering advance studies in economics and management. Since itsinception in 1974, the Faculty has established a strong tradition of interdisciplinaryteaching, research, and innovative scholarship. From its initial strengths inagribusiness, agricultural economics, and natural resource economics, the Faculty hasbroadened its disciplines to include mainstream economics, finance, accounting andbusiness management, in response to the industrial needs of the nation.

The Faculty consists of three departments, namely Department of Economics,Department of Management and Marketing, and Department of Accounting andFinance. The Department of Economics administers the undergraduate honors degreeprogram Bachelor of Economics. The Department of Management and Marketingadministers the Bachelor of Business Administration program, while the Department ofAccounting and Finance administers the Bachelor of Accounting program. The Facultyhas received Advance Collegiate Schools of Business (AACSB) accreditation for itsundergraduate and post graduate programs. AACSB represents the highestinternational achievement for an educational institution that awards business degrees.

The Faculty has 14 Professor, 22 Associate Professors, 53 Senior Lecturers and 23lectures in various fields of economics, management, finance and accounting, Theacademic staff of the Faculty has considerable experience in teaching, research,consultancies and student supervision. The Faculty is well supported by a highconcentration of reputable staff with expertise in various fields of analytical and appliedeconomics, finance, accounting, business management, hospitality and tourism. TheFaculty is committed to achieving excellence in teaching and research at internationallevel. The Faculty offers a wide range of graduate courses in Economics andManagement, in collaboration with Putra Business School. Students may chooserelevant courses for their specialization.

In the field of Economics, the Faculty is widely recognized, both, for the high qualityand the breadth of its research output as shown by the three consecutive assessmentsof research quality conducted by the higher education funding bodies in Malaysia. Themembers of the Faculty publish regularly in leading national and internationaleconomic journals. Our research strategy focuses on the development of economictheory and empirical studies using advance econometric methods. The objective of thefaculty is to produce research that advances economic or econometric theory and offersinnovative approaches on issues of concern to economic policy makers.

Our research interests are wide-ranging and supervision is offered in various areas ofmicroeconomics, macroeconomics, business economics, econometrics, tourism andhospitality. Research in microeconomics focuses on financial economics, developmenteconomics, international economics, health economics, labour economics, industrialeconomics, environmental and natural resource economics. The econometrics grouphas particular interest in econometric methodology, econometric modeling and time-series analysis. Further information on the research interests of individual members ofthe Faculty are provided in the List of Academic Staff, as well as the Facultys website:www.econ.upm.edu.my

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MASTER OF ECONOMICS (M. Econ)

The Master of Economics (M. Econ) program started at the Faculty of Economics andManagement, UPM in 1994. The objectives of this non-thesis program are:

(1) to provide students with multi knowledge in Economics and gain mastery in anyrelated field of economics of their choice;

(2) to apply analytical approaches in analyzing current economic issues;(3) to demonstrate skill in the application of microeconomics and macroeconomics

in solving economic problems; and(4) to provide awareness in the development and economic issues at national,

regional and global levels.

The program is structured to allow students to complete it in three semesters. In thefirst semester, students are required to take compulsory theoretical courses. During thefollowing semesters, students may choose elective courses in their chosen areas ofspecialization.

Admission Requirements

Candidates should have a Bachelor degree with a minimum cumulative grade-pointaverage (CGPA) of 3.00 on a 4-point scale from institutions recognized by UPM. Workingexperience of at least 5 years in related fields can be considered for candidates withCGPA of less than 3.00. Candidates must have at least a pass in economics and / orquantitative courses at the undergraduate level.

Admission

Intake is twice annually and admission is open at the beginning of the First Semester(September) and Second Semester (February) of each year.

Program Requirements

(a) Credit Hours Requirement

Students are required to complete a total of 40 credit hours of coursework. The totalcredit hours include program core courses (22 credit hours), compulsory courses (9credit hours of courses in the area of specialization and 9 credit hours of electivecourses).

(b) Core Courses

Course Code Course Name Credit HourECN5020 Mathematical Economics 3ECN5112 Microeconomic Theory 3ECN5114 Macroeconomic Theory 3ECN5121 Econometric Methods I 3ECN5132 Research Methodology in Applied Economics 3ECN5988 Project Paper 6ECN5193 Seminar in Economics 1

TOTAL 22

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(c) Courses in Areas of Specialization (9 credit hours)

Master of Economics offers five (5) areas of specialization:

1. Financial Economics,2. Development Economics,3. Industrial Economics,4. International Economics, and5. Resource and Environmental Economics.

I. Financial Economics

Compulsory Courses (9 credit hours)Course Code Course Name Credit HourECN5141 Financial Economics I 3ECN5143 Monetary Economics 3ECN5199 Current Issues in Economics 3

II. Development Economics

Compulsory Courses (9 credit hours)Course Code Course Name Credit HourECN5163 Economic Growth and Development 3ECN5164 Planning and Economic Policy 3ECN5199 Current Issues in Economics 3

III. Industrial Economics

Compulsory Courses (9 credit hours)Course Code Course Name Credit Hour

ECN5151 Industrial Structure and Competition 3ECN5152 Competition and Public Policy 3ECN5199 Current Issues in Economics 3

IV. International Economics

Compulsory Courses (9 credit hours)Course Code Course Name Credit Hour

ECN5183 Theory and Policy of International Trade 3ECN5184 International Finance Theory 3ECN5199 Current Issues in Economics 3

V. Resource and Environmental Economics

Compulsory Courses (9 credit hours)Course Code Course Name Credit HourECN5311 Natural Resource Economics 3ECN5341 Environmental Economics 3ECN5199 Current Issues in Economics 3

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(d) Elective Course

Students are required to choose 3 courses (from the following list) other thanthe compulsory courses.

Course Code Course Name Credit HourECN5122 Econometric Methods II 3ECN5141 Financial Economics I 3ECN5143 Monetary Economics 3ECN5163 Economic Growth and Development 3ECN5164 Economic Planning and Policy 3ECN5165 Labour Economics 3ECN5151 Industrial Structure and Competition 3ECN5152 Competition and Public Policy 3ECN5166 Health Economics 3ECN5183 Theory and Policy of International Trade 3ECN5184 International Finance Theory 3ECN5311 Natural Resource Economics 3ECN5341 Environmental Economics 3ECN5323 Fisheries Economics 3

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Program Structure (Duration of Study: 3 5 Semesters)

Course Code Course Name Credit HourSemester 1

ECN5020 Mathematical Economics 3ECN5112 Microeconomic Theory 3ECN5114 Macroeconomic Theory 3ECN5121 Econometric Methods I 3

12Semester 2

ECN5132 Research Methodology in Applied Economics 3ECN**** Specialization Compulsory Course 3ECN****ECN****

Specialization Compulsory CourseElective Course

33

ECN5988 Project Paper (continue) 315

Semester 3ECN**** Specialization Compulsory Course 3ECN**** Elective Course 3ECN**** Elective Course 3ECN5988ECN5193

Project PaperSeminar in Economics

31

13TOTAL 40

Assessment:i) Courses will be assessed by a mixture of continuous assessment (essays and

project work) and written examinations. At the beginning of the course studentswill receive a written document (course outline) explaining the weights given toeach type of assessment in each course. Written examinations will normally takeplace at the mid and end of the semester.

ii) Project Paper Requirement

A candidate in the Master of Economics program is required to register for theproject paper in the two consecutive semesters and submit the final projectpaper in the final semester. The project paper will be evaluated by examinersappointed by the Faculty.

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Tuition Fees

The fee structure for graduate programs consists of two components: the basic fee andthe credit fee as follows:

(a) Basic FeeThe Basic fees imposed by the Graduate School Office are:

For further Information:

Kindly contact:Dr. Hanny Zurina HamzahCoordinator of Postgraduate Studies (Non Thesis Based)Tel. No.: 603-8946 7766Fax No.: 603-8948 6188/ 03-8948 7569E-mail: hannyzurina@upm.edu.myWeb-page: http://www.econ.upm.edu.my

FirstSemester

(MYR)

Second andsubsequent

semesters (MYR)

Finalsemester

(MYR)

Additional FeePer Credit

(MYR)

Local Students 1,200.00 950.00 950.00 200.00

InternationalStudents

2,200.00 1,950.00 1,950.00 400.00

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Master of Economics Flow Chart of Milestones

REGISTRATION(SGSs Student Portal)

Registration OnlineEvery semester

COURSEWORK (3 semesters)

Fill Out Project Paper Registration Form (see Appendix 1)(during the 2nd Semester)#

Appointment of Supervisor(start the project paper)

Research

Register ECN5193 Seminar in Economics (last semester)Upon completion of Project Paper

Fill Out Submission of Project Paper Form (See Appendix 2)*(during the 3rd Semester/4th Semester)

Have your Supervisor Signature and stamp it

Submission of hard cover Project Paper 3 copiesand

CD of the project paper (3 copies)

to Graduate Admin Office, Faculty of Economics and Management (FEP)

Fill out GS-17 form (Particulars for graduation, SGSs Student Portal)

GRADUATION

# During the 3rd Semester if your final semester is 4th semester.

* Submit a project paper related to the field of specialization in the finalsemester.

Both forms (Appendix 1 and Appendix 2) can be obtained from Graduate AdminOffice (Ground Floor, Block E), Faculty of Economics and Management.

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GRADUATE LEVEL COURSES IN ECONOMICS

Graduate level courses are designated by course codes of 5000 and 6000 series. Thefollowing courses are offered by the Faculty of Economics and Management.

COURSE SYNOPSIS

ECN5020 Mathematical Economics 3 credit

The course covers the mathematical methods used in the three major types of economicanalysis namely equilibrium analysis, comparative statics and optimization problems,which involves linear algebra (matrix algebra), mathematical analysis and optimizationtheory that provide basic mathematical tools related to economics

ECN5112 Microeconomic Theory 3 credit

The course covers the microeconomic theory at the intermediate level usingmathematical approach, encompassing theory of consumer behaviour, theory of thefirm, equilibrium of consumers, firms and industries, perfect and imperfect competition

ECN5114 Macroeconomic Theory 3 credit

This course covers the methods of modern macroeconomic analysis and its applicationsto a variety of macroeconomic issues, encompassing the economic growth model, astatic and dynamic model, Ricardiance Equivalence theorem and the inter-temporalconcept.

ECN5121 Econometric Methods I 3 credit

This course covers econometric methods which mainly examines the general linearmodel and problem with its use in the measurement of economic relationship,encompassing least square assumptions and optimal properties of estimators,distributed lag model, dummy variables and the multiple equation estimationprocedures, the identification problems in multiple equation system and testing forspecification errors.

ECN5122 Econometric Methods II 3 credit

This course covers advanced econometric related to single and simultaneous-equationmodelling, which involves model selection and test procedures, regression models withdummy variables, dynamic models and time-series econometrics.

ECN5132 Research Methodology in Applied Economics 3 credit

This course covers the scientific research in economics and the process of preparing aresearch proposal, encompassing problem identification and formulation of researchproblem, research objectives, methodology and research designs, data analysis andreporting of research findings.

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ECN5141 Financial Economics I 3 credit

This course covers the theory and role of financial market and institutions,encompassing risk and return, valuation of financial assets, modern portfolio theory,models of asset price determination, efficient market hypothesis, behavioural finance,financial market development and the determinants of financial development.

ECN5143 Monetary Economics 3 credit

This course covers monetary theories and issues which involves measurement ofmoney, money-output and money-price links, money demand function, money supplyprocess, monetary transmission mechanisms, rational expectation hypothesis, rulesversus discretion in the conduct of monetary policy.

ECN5151 Industrial Structure and Competition 3 credit

This course covers the relationship among structure, conduct and performance ofindustrial firm, encompassing the determinants of market structure, firm and marketbehavior, methods of assessing industrial performance, competition and monopoly.

ECN5152 Competition and Public Policy 3 credit

This course covers the theory and implementation of public policies on economicorganization, encompassing price output policies, price control, market segmentation,collusion, mergers, pricing policies, discrimination in distribution, unfair tradepractices, and effectiveness of antitrust laws and policies.

ECN5163 Economic Growth and Development 3 credit

This course covers the determinants of economic development and growth in both theeconomically developed and developing countries, encompassing economic growthmodels, technological progress, population growth, human capital, saving, opennessand the costs of economic growth.

ECN5164 Economic Planning and Policy 3 credit

This course covers the techniques and models of development planning and policyanalysis, encompassing aggregate growth models, input-output models, sectoralplanning models, regional growth models, optimization models and social accountingmatric.

ECN5165 Labour Economics 3 credit

This course covers the theory and application of labour economics with the currentsituation and world of work which includes labour demand and supply, training,structure of wage, minimum wages, productivity, worker mobility, human capitalinvestment and inequality in earnings.

ECN5166 Health Economics 3 credit

This course covers the theory and application of economic in the health and medicalcare market. It provides a basic framework to improve efficient and equitable allocationof health care resources encompassing demand and production of health, healthmarket and the role of government in health and medical care industries.

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ECN5167 Introduction to General Equilibrium Techniques 3 credit

This course covers the concepts and techniques of general equilibrium modelsencompassing models input-output, social accounting matrix, and general equilibriumcomputation which are useful for policy analysis.

ECN5183 Theory and Policy of International Trade 3 credit

This course covers general equilibrium of open and closed economy, Ricardian andHecksher-Ohlin models, modern trade theories, trade barriers, economic integrationand World Trade Organization.

ECN5184 International Finance Theory 3 credit

This course encompasses the international finance concepts, theory of foreignexchange, capital flows, balance of payment, devaluation, monetary and fiscal policy,foreign exchange controls, influence of world economies to domestic economy andinternational financial system.

ECN5193 Seminar in Economics 3 credit

This course covers the preparation and presentation of project paper encompassing anintroduction to the research topic, theoretical framework, problem statement, objective,literature review, research design and methodology.

ECN5199 Current Issues in Economics 3 credit

This course covers the current issues and model applications in the field of economicsthat includes financial economics, industrial economics, development economics,international economics, resource and environmental economics.

ECN5311 Natural Resource Economics 3 credit

The course covers the applications of economic analysis and welfare economics to theproblems of natural resource use and management. Special attention will be given tocriteria for optimizing the use of natural resources and to the issue of market failure, aswell as to public policies affecting environmental quality and resource conservation.

ECN5323 Fisheries Economics 3 credit

This course covers the problem relating to common property rights; concepts used infishery exploitation and management; and the dynamics of regulating a fishery in orderto optimize yields and efficiency.

ECN5341 Environmental Economics 3 credit

This course covers the resource allocation and environmental problem, encompassingeconomic of pollution, property rights, market and policy failure, recycling and wastemanagement, non-market goods valuation, and environmental management.

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ECN5904 Special Topics in Economics 3 credit

This course covers a comprehensive and in-depth examination of a topic at the forefrontof contemporary research in economics or econometrics. It focuses on the use ofeconomic models and theories in addressing research questions in economics.

ECN6112 Advanced Microeconomic Theory 3 credit

This course covers the concepts and theories of advanced microeconomic encompassinguncertainty, general equilibrium theory, cooperative and non-cooperative game theory,social choice, welfare and information economics.

ECN6114 Advanced Macroeconomic Theory 3 credit

This course encompasses theories and concepts of advanced macroeconomic andmethods of macroeconomic analysis by emphasizing on theory of economic growth,human capital and infrastructure, real business cycle models, the imperfect-information model, monetary and fiscal policies.

ECN6121 Advanced Econometric Methods 3 credit

This course covers some modern techniques in econometrics and how these techniqueswork in practice, encompassing the estimation and inferences in cointegration,generalized method of moments, simultaneous equation models, time series models andpanel data models.

SPS5903 Masters Research Proposal Seminar 1 credit

This course covers the preparation and presentation of a Masters research proposal,encompassing an introduction to the research topic, theoretical framework, scope of thestudy, objectives, statement of the research problem, literature review, research designand methodology.

SPS5999 Masters Research 3 - 12 credit

This course covers the planning and execution of a Masters research project whichincludes searching for latest information on the research topic and reviewing relatedliterature, applying suitable research methods for data collection, interpreting anddiscussing results, writing the thesis and preparing for the viva voce.

SPS6904 Doctoral Research Final Seminar 1 credit

This course covers the presentation of the results of a doctoral research. Thepresentation encompasses an introduction to the study, justification for the research,objectives, literature review, methodology, results, discussion and conclusion.

SPS6999 Doctoral Research 3 - 12 credit

This course covers the planning and execution of a doctoral research project whichincludes searching for latest information on the research topic and reviewing relatedliterature, applying suitable research methods for data collection, interpreting anddiscussing results, writing the thesis and preparing for the viva voce.

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VITAL INFORMATION

Financial Support:

Students are responsible for securing their own funding to cover tuition fees and livingexpenses. However, it is possible, in some disciplines, for studentship support to beobtained from external funding sources through research contracts. A small number ofscholarships are available and may be awarded based on academic merit. TheUniversity and Colleges also have their own funds, which are available to eligibleapplicants and current students.

Registration:

All continuing students must register every semester (Online) during specified periodunless an application for deferment has been made. The faculty/ Institute mustendorse the registration form before submitted to the School of Graduate Studies.Registration is not valid if the letter of financial sponsorship or payment receipt or anendorsement from the Bursars office (to defer payment) is not attached with theregistration form. A student who fails to register within 14 days of the start of asemester will have his/her candidature terminated. A student is not allowed to defer formore than 2 semesters unless on medical reasons (a medical report is required). Astudent who is required to submit a thesis for re-examination will not be allowed todefer his study except on certified medical grounds.

Adding/ dropping of Courses:

A student is allowed to add courses within 14 days of the start of a semester (Form GS-06). A student is allowed to drop a course by the end of the seventh week of thesemester (Form GS-06). A grade of F will be given to a student who fails to attend andsit for the examination of any registered course and has not dropped the course withinthe allowed period.

Transfers:

A student may apply for a transfer form a program or a field of study. An applicationmust be submitted by the tenth week of a semester, and if approved, the transfer willtake effect the following semester (Form GS-08). Transfers are not allowed after astudent has completed 2 semesters of study. Transfers are allowed once only.

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EVALUATION

Coursework

A student who registers, attends classes and sits for the examinations will be givenappropriate grades for the courses. A student who registers but do not attend classesand/or do not sit for the examination for the course will be given grade of F.

Project paper

A student must register full (6) credits for the project paper in a semester. If the statusis a continuation, an S grade will be given showing that the research is carried forwardto the following semester. The student will have to register again the following semesteras 6 credits with YW status and at the end of the final semester the grade will becomputed as part of the semester results.

Student in the Master of Economics program is required to submit a project paperrelated to the field of specialization in the two consecutive final semesters. Theproject paper will be evaluated by examiners appointed by the Faculty.

CGPA

A student who achieves a minimum CGPA of 2.50 is allowed to continue his studiesinto the following semester on probation. He/she must attain a minimum CGPA of 3.00in the following semester to continue his/her study.

Replacement of Grade

A student is allowed to repeat a failed course (Grade F) once. The new grade will replacethe previous F grade in the computation of his/ her CGPA although the original F graderemains in his/her transcript for the particular semester.

Review of Course GradeA student may apply for a review of his grades (Form GS-13a) with a payment of RM50per course no later than two (2) weeks after the announcement of results.

Review of TerminationA student may apply for a review of termination (Form GS-13b) with a payment of RM50no later than two (2) weeks after the announcement of result.

Final Evaluation

For the non-thesis program, the student must achieve a minimum CGPA of 3.00 andsatisfy all the program requirements.

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Award of Degree:

A student who has fulfilled all program requirements for graduation will be endorsed bythe University Graduate Studies Committee for approval of the University Senate.

Important things to know and do:

Register every semester (Online via IGIMS System Student Portal) Register for courses that have to be taken (Add/Drop Form GS-06) Submit study scheme (form GS-05a) no later than the second semester.

Fill Out Project Paper Registration Form to appointment of Supervisor(start the project paper)

Fill Out Submission of Project Paper Form(during the 3rd Semester/4th

Semester) Submit Form GS-17 for graduation purposes.

Further Postgraduate Rules and Regulations, Please Refer to UNIVERSITI PUTRAMALAYSIA (GRADUATE STUDIES) Rules 2003

7. STAFF DIRECTORY

Please visit: http://www.econ.upm.edu.my

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APPENDIX

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Appendix 1

Graduate Studies OfficeFAKULTI EKONOMI DAN PENGURUSANFACULTY OF ECONOMICS AND MANAGEMENT

Project Paper Registration Form(Master of Economics)

To be completed by student and forwarded to supervisorSubmit the form to Administrative Assistant Postgraduate Office

1. NAME :

2. MATRIC NO. : SEMESTER : 2 / 3 / 4

3. YOUR MAILING ADDRESS :

4. E-MAIL :

5. TELEPHONE / HANDPHONE NO. :

STUDENT SIGNATURE : ____________________ DATE : _______________

6. TOPIC CHOSEN :

7. SIGNATURE OF SUPERVISOR & STAMP : __________________________________

Certified by :

___________________________ __________________Deputy Dean / Coordinator Date

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Appendix 2

Graduate Studies OfficeFAKULTI EKONOMI DAN PENGURUSANFACULTY OF ECONOMICS AND MANAGEMENT

Submission of Project Paper Form(Master of Economics)

To be completed by student and forwarded to supervisorSubmit Project Paper (3 copies - Hard Cover) and CD of Project Paper (2 copies) toAdministrative Assistant Postgraduate Office

1. NAME :

2. MATRIC NO. : SEMESTER : 2 / 3 / 4 / 5

3. YOUR MAILING ADDRESS :

4. E-MAIL :

5. TELEPHONE / HANDPHONE NO. :

6. TITLE OF YOUR PROJECT PAPER :

It is the responsibility of the student to ensure that all degree requirements have beenmet.

I certify that the above information is correct

Student Signature : ____________________ Date: ________________

------------------------------------------------------------------------------------------------------------------------------I certify that I have read the project paper and find it acceptable for submission.

_________________________________ _________________Supervisors Signature and Stamp Date

For Office Use :

Received By : ____________________ Date Received : __________________