The Economics Program offers graduate study leading to the Doctor of Philosophy degree. During the course of study toward the Ph.D., doctoral students also have the opportunity to obtain a Master of Arts degree. Areas of specialization include: Advanced Macroeconomics, Advanced Microeconomics, Behavioral and Experimental Economics, Comparative Institutional Economics, Econometrics, Economic Development, Economic History, Environmental and Natural Resource Economics, Industrial Organization, International Finance and Macroeconomics, International Trade, Labor Economics, Political Economy, and Public Economics. Recent faculty research in econometrics investigates the properties of instrumental variable estimators with many instruments, Bayesian estimation and model selection methods, spatial and cross sectional interaction models, dynamic panel data models, GMM and ML estimation of cross-sectionally dependent processes, program evaluation, propensity score methods, limit theory with temporal and cross-sectional dependence, applications to network and social interaction models, policy evaluation in macro-economic settings.