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Graduate Program in Economics?

Graduate Program in Economics?. Amanda Anderson – UW Oshkosh Faculty Advisors: M. Ryan Haley, Sarinda Taengnoi. Background. Increased interest in a graduate program for Economics MA Economics existed at UWO until the mid 1980s

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Graduate Program in Economics?

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  1. Graduate Program in Economics? Amanda Anderson – UW Oshkosh Faculty Advisors: M. Ryan Haley, SarindaTaengnoi

  2. Background • Increased interest in a graduate program for Economics • MA Economics existed at UWO until the mid 1980s • Number of Econ majors has increased from < 20 to nearly 200 • The last 6-8 yrs. many UWO undergrads to grad programs elsewhere • Econ dept. joined COB – soon to be in a new state-of-the-art academic building • Determine the viability of MA program at UWO • Many benchmark schools have similar programs • Determine likelihood of sustaining a new program

  3. Motivation • Gain research experience • The prior failure of a Masters program in Economics at UWO • Develop a more efficient and concrete means for decision making

  4. Data • Compared to benchmark universities: • Size 10,000 students and greater • Great Lakes region: IL, WI, OH, MI, IN • At least an undergrad program in Econ • Compiled data for each school on: • Size • Rating • Econ department size • Degrees available • Enrollment • Conferment • Admittance scores • Student to faculty ratio • COB relationship

  5. Data Sources • Integrated Post-secondary Education Database (IPED) by the U.S. Department of Education. • StateUniversity.com • Website for each individual university included in the study • Variables: 2008 academic year to current • 47 Universities

  6. Methodology • LOGIT model was most appropriate • Use dummy variable: Econ Grad Program • Provides a probability model using current school statistics

  7. Models • LOGIT A: • Dependent variable: Graduate program in Econ dummy • Independent variables: Economics faculty size, COB dummy, undergrad Econ diplomas, ACT, student/faculty ratio • Multicollinearity leading to Z suppression, but pseudo R2 of 0.2477 • LOGIT B: • Dependent variable: Graduate program in Econ dummy • Independent variables: COB dummy and ACT • Reduces multicollinearity, but pseudo R2 decreased to 0.1620 • Most parsimonious model – includes most statistically significant predictors

  8. Descriptive Statistics

  9. Probability Results • LOGIT A =1/(1+ exp (5.582617+1.547932*[COB dummy]-0.2716347*[ACT])) • LOGIT B=1/(1+ EXP(-0.2593125+ 0.043009* [Econ Faculty]+0.6626516* [COB dummy]-0.0182598* [Econ undergrad diplomas]-0.128417* [ACT]+0.132186* [student/faculty ratio]))

  10. Conclusion UW Oshkosh has a probability of 35.18% with LOGIT A and 54.36% with LOGIT B indicating that there is evidence that a Masters of Economics program is supportable and appropriate.

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