MINERAL ECONOMICS DEGREE REQUIREMENTS• • • [DIVISION OF ECONOMICS AND BUSINESS]

Below are two lists of the most frequently questions asked by incoming and current students. Prospective student questions are listed first, followed by questions from current students. Click on the question, you will move quickly to the answer. Click on "Back to Top" to go back to the list of questions.

FAQs for Prospective Students

- What are the career prospects for graduates of the programs?
- Is the Mineral Economics program the right program for me?
- Who are some of the distinquished alumni of the program?
- What are the requirements for acceptance into the program?
- Are GRE or GMAT scores required?
- What are the average GRE/GMAT scores for students in the degree programs?
- What are the minimum GPA and GRE/GMAT scores for acceptance into the program?
- What are the minimum TOEFL or IELTS requirements for students with English as a second language?
- Do you require the Subject GRE test to apply for your programs?
- Where can I take the required entrance exams?
- What are the approximate program lengths?
- How do I apply to the program?
- What will be required for a complete application?
- What are the application deadlines?
- Can I start the program in the fall or spring?
- What are the costs of the program?
- How do I qualify for in-state tuition?
- I am an international student and have been accepted into the program. When can I expect to get my visa paper work?
- I have completed my application packet. When can I expect to receive the decision?
- Who should I get to write letters of reference for me?
- Is there funding available for the Mineral Economics programs?
- How do I apply for funding for the Mineral Economics programs?
- If I am admitted to a Mineral Economics graduate program, can I defer admission?
- What are the program course pre-requisites?
- Can I take the pre-requisites while attending the program?
- Can I test out of the pre-requisites?
- What undergraduate majors are acceptable for applying to the program?

FAQs for Current Students

- What is the recommended course sequence my first semester?
- What is a full course load each semester?
- What are the GPA requirements for graduation?
- What is the policy for transfer credits?
- I am a Non-thesis Master Student. Who is my academic advisor?
- What is an Area of Specialization?
- How do I choose my elective courses?
- What is the process for selecting a minor?
- What is a Ph.D. Area of Specialization and how is this different from a minor?
- Most of the Ph.D. core courses also appear in the E&PP Area of Specialization. Do I need to take additional courses to make E&PP my Area of Specialization?
- What is the Qualifying Exam and when is it offered? How do I prepare for it?
- What is the purpose of the Qualifier Exam and who is eligible to take it?
- How do I select an advisor for my Thesis?
- How do I select a Thesis Committee?
- What is a Proposal Defense?
- What are the requirements for oral and written comprehensive exams?
- I have completed all of my coursework, but I understand that I need to register for Thesis credit. How do I do become eligible for this?
- Where can I find a Graduation Checklist?

Q. What are the career prospects for graduates of the programs?

A. Our program prepares students for careers in industry, banking and investment, government, international organizations and consulting firms. These fields require training in economics, management, and policy relating to mineral and energy industries. Our Master's students are highly competitive with MBA students, but have the added advantage of having much stronger quantitative training and a thorough understanding of energy, minerals, and related environmental and technology issues. Our Ph.D. students are more applied than those from more traditional economics programs, making them particularly well-suited for non-academic positions that require greater analytical and research abilities than at the Master's level.

The graduates have gone to work for the following companies:
Accenture LLP, American Management Systems, Inc., August-Gram Consulting, Inc. Auroa Associates International, Bechtel Mining & Metals-Colorado, Bloch Rotstein Investment, BP, CEPSA, Chiag Hai University, ConocoPhillips, Consultant, Dell Financial Services, EG&G Rocky Flats, Inc., Franco-Nevada/Euro-Nevada, Gaffney, Cline & Associates, Herbert Smith, Honeywell PAI, Impact Reserves, Inc., Inco Limited, Innovative Management Concepts, Inc., Intevep, Jeppisen-Sanderson, Landmark Graphics, LCG Consulting, Lilly Endowment, Inc., Metavisio, Minera Aurifera Retamas, SA, Ministry of Finance of Indonesia, North Front Range MPO, Paul Wurth S.A., PDVSA, Pertamina, Petrobras, Petroleos de Venezuela S.A., PriceWaterhouseCooper LLP, Quimica Venoco, C.A., Sabre, Inc., Saudi Aramco Company, Self-Employed, SwiftTrade Securities, Inc., Total Fia Elf, University of California-Davis, U.S. Air Force, U.S. Army, Vectra Bank Colorado, N.A., YPF S.A., Zonguldak Kamelmas University. More placement info here.
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Q. Is the Mineral Economics program the right program for me?

A. If you are interested in a strong applied technical program in energy and minerals and related issues, our program would be a good choice. We have a strong alumni network and excellent reputation in these fields. If you are interested in a broader degree, other business schools may be a better fit. Although the tools you will learn can also be applied to other areas, most of our alumni go into the mineral, energy, or related fields. However, a number of our alumni have subsequently moved into high tech and other areas.
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Q. Who are some of the distinquished alumni of the program?

A. Distinquished alumni of Mineral Economics include: Ronald Cattany, Director of the Colorado Division of Minerals and Geology; Maria Chappuis, Director of Mines, Peru; Raul Doering, Secretary of Mining of Catamarca, Argentina; Brian Johnson, Director of Energy & Utilities, Asia Pacific PricewaterHouse-Coopers; Purnomo Yusgiantoro, Minister of Energy, Indonesia.
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Q. What are the requirements for acceptance into the program?

A. Typically, the Division accepts graduate students who have high intellectual abilities, strong integrity, a good work ethic, and developed quantitative skills as demonstrated by their course work and exams. Your Letter of Interest should illustrate your strong interest in energy, minerals, or related environmental and technological issues. The Letter of Interest should also include examples of strong leadership potential as demonstrated by previous academic, personal, and employment successes.
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Q. Are GRE or GMAT scores required?

A. Yes, taking either the GRE or GMAT test is compulsory for all students applying for the program. Applications will not be considered without these scores. If you completed your undergraduate degree at CSM you do not have to submit GRE or GMAT scores unlesss the committee requests this of you for a particular reason.
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Q. What are the average GRE/GMAT scores for students in the degree programs?

A.The Average GRE scores for accepted students:

The Average GMAT scores for accepted students:

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Q. What are the minimum GPA and GRE/GMAT scores for acceptance into the program?

A. There is no official minimum GPA for admittance into the program, although higher GPAs increase your likelihood of admission. For GRE and GMAT, your quantitative scores should be above 50% for consideration for admittance.
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Q. What are the minimum TOEFL or IELTS requirements for students with English as a second language?

A.The minimum English proficiency scores are 79 for the Internet TOEFL, 213 for the online TOEFL, 550 for the written TOEFL, or 6 for the IELTS.
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Q: Do you require the Subject GRE test to apply for the programs?

A. No, we only require the general GRE.
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Q. Where can I take the required entrance exams?

A. GRE - see www.gre.org
GMAT - see www.gmat.org
TOEFL - see www.toefl.org
IELTS - see www.ielts.org
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Q. What are the approximate program lengths?

A. M.S. Mineral Economics: 16 - 19 months (minimum 36 credits).
Joint Degree Petroleum Economics and Management - 16 months (minimum of 48 credits).
Ph.D. in Mineral Economics - 3 - 5 years (minimum of 48 hours of course work plus 24 thesis credits. It takes the average student 1.5 to 2 years to complete their thesis).

Registering for 9 credits is full-time status. Students who transfer in work from other graduate programs may take less time. Many students take more than the minimum number of required hours to more fully benefit from the many specialized courses that we offer.
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Q. How do I apply to the program?

A. You can apply online http://www.mines.edu/admiss/grad/or request a paper application from grad-school@mines.edu.
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Q. What will be required for a complete application?

A. See http://www.mines.edu/admiss/grad/graduate_admissions.htm.
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Q. What are the application deadlines?

A. We accept applications at any time. However, it is best to apply at least four months before the beginning of the term to allow adequate time for processing. If you will need a Visa you should apply at least 6 months prior to the start of the term.

If you plan to apply for financial aid from the Division of Economics and Business apply by March 1st.
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Q. Can I start the program in the fall or spring?

A. It is preferred to start the program in the fall, as the fall courses provide a good introduction to the courses offered in the spring. The prerequisite courses required to begin in the spring prohibit most students from qualifying for spring entry.
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Q. What are the costs of the program?

A. See http://www.mines.edu/admiss/grad/tuition.htm.
Expect increases for the following year.
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Q. How do I qualify for in-state tuition?

A. See http://www.mines.edu/admiss/grad/graduate_admissions.htm.
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Q. I am an international student and have been accepted into the program. When can I expect to get my visa paper work?

A. Visa paper work can't go out more than 90 days prior to enrollment. The visa paper work is handled by the international office. To check on its status, contact Alyda Morosco, amorosco@mines.edu, 1-303-273-3209, or fax 1-303-273-3099.
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Q. I have completed my application packet. When can I expect to receive the decision?

A. The Mineral Economics Committee will usually email you within two weeks after they receive your complete application.
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Q. Who should I get to write letters of reference for me?

A. Professors from classes you have taken as well as employers and supervisors all are acceptable references.
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Q. Is there funding available for the Mineral Economics programs?

A. A limited amount of financial aid, which is awarded competitively, is available for new and returning students. Most of the aid is in the form of teaching assistantships (TAs). A full time TA position pays in-state tuition plus a monthly stipend of about $1200 per month for 9 months. Some faculty hire research assistants, but usually these positions go to continuing students. A full time TA will cover the majority, but not all, of out-of-state tuition. It will not cover living expenses. Most awards begin in the fall term. For consideration, you must have your application complete by March 1st or by October 1st. Initial awards are made by March 15th and October 15th.

The Division of Economics and Business provides partial funding for nearly half the students enrolled in its programs. The awards range from $1200 to $8000 a semester. The average award in EB is $4500 a semester. CSM does not grant tuition waivers.
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Q. How do I apply for funding for the Mineral Economics programs?

A. To be considered for financial aid, check "Yes" that you wish to apply for financial aid in your application.
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Q. If I am admitted to a Mineral Economics graduate program, can I defer admission?

A. Yes. Students admitted to our graduate programs can request a one-year deferral. If they do not enroll the semester after the deferral period expires, they must reapply, pay application fees, and be accepted, just the same as any new applicant. Financial aid requests will defer with your deferral request. However, your award is not deferred. You will be reconsidered for the semester in which you plan to enroll in the program.
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Q. What are the program course pre-requisites?

A. Calculus (MATH111 or equivalent); Introductory Probability and Statistics (MATH323 or equivalent); and Principles of Microeconomics (EBGN311 or equivalent). For spring semester entry students must have also have completed a course in mathematical economics (EBGN509 or equivalent).
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Q. Can I take the pre-requisites while attending the program?

A. No, deficiencies must be taken before you arrive at CSM. In the case of probability and statistics, this deficiency may be taken in conjunction with the program in thirst semester. However, this can delay completion of the program.
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Q. Can I test out of the pre-requisites?

A. No, all students must complete the prerequisite courses. An official transcript showing the prerequisite courses must be sent to the Division.

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Q. What undergraduate majors are acceptable for applying to the program?

A. We require the equivalent of a U.S. Bachelors degree to consider your application for the program. Any undergraduate degree is acceptable provided you have strong math and quantitative skills and have completed courses with a passing grade of "B" or better, including the 3 prerequisite courses.

Undergraduate Degrees of current students
13 - General Engineering (chemical, civil, electrical, mechanical)
20 - Earth Sciences (geology, petroleum, mining, metallurgy, geophysics)
9 - Economics and Business
4 - Math and Finance
5 - Other (Law, English)
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FAQs for current students

Q. What is the recommended course sequence my first semester?
A. The recommended course sequencing depends on your chosen field (Economics and Public Policy versus Quantitative Business Methods), how many courses you take each semester, and in which program you are enrolled (ME or IFP). A typical year's course sequence for a student beginning in the fall term is given below:

1st Fall Semester

EBGN509 Mathematical Economics

EBGN510 Natural Resource Economics

EBGN525 Operations Research Methods

One or Two Courses- Field/Elective/Prob-Stats Deficiency

Sequencing of Field Courses:
QBA - Take EBGN505 first fall term
OR - Take EBGN505 plus first fall term

Q. What is a full course load each semester?
A. Nine graduate credit hours are considered to be a full course load. However, many students enroll in 12 credits a semester.

Q. What are the GPA requirements for graduation?
A. All graduate students must maintain a 3.0 (B) Grade Point Average (GPA). No credit is given for courses with an earned grade below 2.0 (C).

Q. What is the policy for transfer credits?
A. The Mineral Economics Committee at CSM must review and approve all graduate level-transfer credits. These credits must not have been used as credit towards a Bachelor Degree. The Committee allows up to 6 hours of approved graduate-level course work to be transferred from other graduate programs towards a non-thesis Masters Degree and up to 9 hours towards a thesis based program. The Committee allows up to 24 credits of approved graduate-level course work towards a Ph.D degree. For those students with a completed Master Degree in another program, the Committee allows up to 36 credits of approved graduate-level course work towards a Ph.D. Transfer credits are not included in calculating the student's grade point average at CSM.
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Master of Science Program

Q. What is an Area of Specialization?
A. Non-thesis Masters students have the option of completing 12 semester hours in one of the following two fields of specialization: Economics & Public Policy (E&PP) or Quantitative Business Methods/Operations Research (QBM/OR). These are also referred to as field specialization courses. For a complete list of available field specialization courses, please consult the following link: http://www.mines.edu/academic/econbus/minec.htm. Students are also able to not-specialize and complete courses in either field.
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Q. How do I choose my elective courses?
A. Students are encouraged to choose elective courses that build upon the core and specialization classes of the program by selecting additional graduate level courses within any academic department at CSM. However, courses chosen outside the department must be approved by the Mineral Economics Committee.
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 Ph.D. Program

Q. What is the process for selecting a minor?
A. Ph.D. students are required to complete at least 12 semester hours in a focused area of study outside of their specialization that will become their minor. Often, but not always, a minor is chosen from another department. To select a minor, consult with your academic advisor and thesis committee. However, it is suggested that you select an academic program at CSM that interests you and compliments your Mineral Economics program. Examples of external minors include: Environmental Sciences, Political Science, and Mathematics. Examples of internal minors include: Finance, Operations Research, and Public Policy.
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Q. What is a Ph.D. Area of Specialization? How is this different from a minor?
A. Mineral Economics Ph.D. students may choose from one of two areas of specialization: Economics and Public Policy (E&PP) or Quantitative Business Methods/Operations Research (QBM/OR). Ph.D. students are required to complete 12 semester hours of classes that are offered in one of these two categories and will reflect their area of specialization, in addition to selecting a minor. For field specialization courses, please consult the following link: http://www.mines.edu/academic/econbus/minec.htm. If desired, the Ph.D. student has the option of choosing the remaining Area of Specialization as a minor. For example, a Mineral Economics Ph.D. student with the E&PP Area of Specialization may minor in QBM/OR.
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Q. Most of the Ph.D. core courses also appear in the E&PP Area of Specialization. Do I need to take additional courses to make E&PP my Area of Specialization?
A. In order for E&PP to qualify for your Area of Specialization, you must take 12 semester hours in addition to courses required for the Ph.D. core.
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Q. What is the Qualifying Exam and when is it offered? How do I prepare for it?
A. Upon completion of the core course work, students must pass a qualifying written examination to become a candidate for the Ph.D. degree. The qualifying exam is offered once a year (typically August) and is administered by the Division qualifier committee. This exam is designed to test the student's competence in core courses and a reading list of additional topics. Once qualified, the Ph.D. student is required to complete an additional written and an oral examination. This exam is prepared and administered by the student's thesis committee and is generally related to the student's thesis topic and the student's minor field.
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Q. What is the purpose of the Qualifier Exam and who is eligible to take it?
A. To be eligible to take the Qualifier, you must formally apply and be accepted into the Mineral Economics Ph.D. Program. The purpose of the Qualifier is to test a student's ability to apply principles from the prerequisite and core courses and extended core.
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Q. How do I select an advisor for my Thesis?
A. Begin by identifying a faculty member with similar interest and consult with your current program advisor. Click here for more information on the faculty: http://www.mines.edu/Academic/econbus/faculty.htm. Your Thesis Advisor should be a faculty member in the Department of Economics and Business, although you may select thesis committee members who are outside this Department.
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Q. How do I select a Thesis Committee?
A. Select an area of research interest and a Thesis Advisor. Your Thesis Advisor can provide suggestions for a Thesis Committee. As a general guideline, your Thesis Committee should consist of at least four professionals who are familiar with, or whose area of expertise will significantly compliments, your topic of research. You should include additional faculty members from the Department of Economics and Business, and you may wish to (but are not required to) include a professional from another department on campus. You are also permitted one "ex officio committee member" on your Thesis Committee who is outside of the Colorado School of Mines.
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Q. What is a Proposal Defense?
A. A Proposal Defense is an organized Thesis Committee meeting where you will present the anticipated hypothesis, methodology, and expected outcomes for your Thesis, which must be formally approved by your Thesis Committee. The Proposal Defense also provides an optimal opportunity for you to present an anticipated timeline of when you believe you will be sufficiently ready to take your oral and written comprehensive examinations, and how you believe your research will progress.
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Q. What are the requirements for oral and written comprehensive exam?
A. The written comprehensive exam typically consists of questions submitted by members of your Thesis Committee that are based upon your area of research. Following the completion and review of your written comprehensive examination, your Thesis Committee may suggest that you further review specific topics to ensure that you have obtained the desired knowledge base in your area of research interest. You will have the opportunity to present your refined level of knowledge in an oral comprehensive exam with your Thesis Committee.
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Q. I have completed all of my coursework, but I understand that I need to register for Thesis credit. How do I do become eligible for this?

A. To be eligible for thesis registration, Masters students must have completed 36 hours of course and research credits combined. PhD students must have completed 72 hours of course and research credits combined. ALL students must have an approved Admission to Candidacy form on file in the Graduate Office. To ensure that this does not conflict with your financial aid and registration requirements, please contact your program advisor, as well as the Graduate Office at 303-273-3412.
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