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Mineral Economics (M.S., Ph.D.)

The Division of Economics & Business offers graduate programs leading to distinctive M.S. and Ph.D. degrees in Mineral Economics. The Division's graduate program focuses on (1) the economic and business challenges of developing and managing energy and mineral resources; (2) the environmental and public policy issues associated with energy and mineral resources; and (3) the finance, management science and decision-making technologies that apply to a broad set of industry environments.

Degree Programs

The M.S. and Ph.D. in Mineral Economics includes study in one of two areas of specialization:

  • Economics and Public Policy (E&PP)
  • Quantitative Business Methods / Operations Research (QBM/OR)

Economics and Public Policy (E&PP)

The E&PP specialization focuses on the optimal use of scarce energy and mineral resources with a global perspective. It provides institutional knowledge coupled with economic, mathematical and statistical tools to analyze and understand how the world of energy and minerals works to guide and shape industry change. Students explore the public and private aspects of business-government policy problems such as taxation, the environment, privatization, regulation/deregulation, the macro-economy, international trade and development.

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    20 Ph.D. students
    19 Master’s students
    12.8% minority
    20.5% female
    38.5% international


This degree is also offered
in a joint program with the Instituit Francias du Petrole
in Paris.  See the Petroleum Economics & Management link to the left for more information.








Intended for those aiming at careers that require a strong quantitative background, critical thinking skills, high ethical standards and sensitivity to other cultures, E&PP provides students with the necessary background to analyze and implement complex economic policies. Students pursue careers with national, regional and international governments; non-profit organizations; the media; consulting, research, planning, financial and forecasting firms; and international corporations.

E&PP specialization offers the following courses: 1) Advanced Econometrics, 2) Advanced Microeconomics, 3) Advanced Natural Resources, 4) Economic Development, 5) Economics of Metal Industries and Markets, 6) Energy Economics, 7) International Trade, 8) Mineral Policies and International Investment.

Quantitative Business Methods / Operations Research (QBM/OR)

The QBM/OR specialization has been carefully crafted to provide the student with an increased competence in the key functional areas of business. Our courses are designed to meet the challenges of optimization and value creation in a competitive global environment. The student also benefits from studying leading-edge business concepts and industry best practices. The QBM/OR specialization has a particular emphasis on the importance of technology and its management through our unique and real-world approach to operations research.

Our program's emphasis on quantitative business methods leads to a natural focus on finance, investment, and project analysis, decision and risk analysis, the engineering-manufacturing-technology interface, concepts of financial engineering, management science and operations research. Students are engaged in strategic thinking, leadership development and decision making, while sharpening analytical techniques and gaining a better understanding of business functional areas and their relationships. Graduates in QBM/OR are uniquely qualified in terms of their analytical skills, financial insights and modeling expertise.

The QBM/OR specialization offers the following courses: 1) Advanced Mineral Asset Valuation, 2) Corporate Finance, 3) Decision Analysis, 4) Financial Risk Management, 5) Economic Evaluation and Investment Decision Methods, 6) Operations Research Methods, 7) Investments and Portfolio Management, 8) Linear Programming, 9) Computational Nonlinear Programming, 10) Network Models, 11) Industrial Accounting, 12) Simulation, 13) Advanced Econometrics, 14) Exploration Economics, 15) Advanced Computational Optimization, and 16) Supply Chain Management.

Degree Requirements

Master of Science

The M.S. degree is offered in two formats: non-thesis and thesis. All students complete 18 credit hours in core courses. Students choosing the non-thesis option must then earn 12 credit hours from their chosen area of specialization and 6 hours of elective course credits from either within the Division or other departments. Thesis students must earn 6 hours of credit from their area of specialization and 12 hours of research credit under the supervision of a faculty advisor. Thesis students must then write and defend a master's thesis on their original research.

M.S. Core Curriculum:

  • EBGN 509 - Mathematical Economics
  • EBGN 510 - Natural Resource Economics
  • EBGN 511 - Microeconomics
  • EBGN 512 - Macroeconomics
  • EBGN 525 - Operation Research Methods
  • EBGN 590 - Econometrics

Combined BS/MS Program

Current CSM undergraduates in any of the bachelor’s degree programs are eligible to apply for the combined BS/MS program in Mineral Economics (non-thesis). Students should apply prior to completing their undergraduate program. Students must submit the graduate admissions application and three letters of recommendation to be considered. The GRE requirement is waived. Once admitted, students can double count six credits of 400-level coursework towards the requirements for both the B.S. and M.S. programs. These six hours generally fulfill the elective requirements listed above. Students then follow the remainder of the requirements for the M.S. non-thesis program.

Doctor of Philosophy

The Ph.D. degree requires 72 semester hours beyond the bachelor's degree of coursework and research combined. Included are 24 hours of core curriculum course work, 12 credit hours taken in one of the two areas of specialization, 12 credits in an approved minor program, and 24 hours of research credit under the supervision of a faculty advisor culminating in the successful defense of a doctoral thesis. A two-semester residence period is required of all doctoral students. To be considered a candidate for the Ph.D. degree, all student must pass a qualifying exam.

Ph.D. Core Curriculum:

  • EBGN 509 Mathematical Economics
  • EBGN 510 Natural Resource Economics
  • EBGN 511 Microeconomics
  • EBGN 512 Macroeconomics
  • EBGN 590 Econometrics
  • EBGN 611 Advanced Microeconomics
  • EBGN 690 Advanced Econometrics
  • EBGN 695 Research Philosophy

Joint Degree in Law and Economics

Students can pursue a program that results in a Master of Science in Mineral Economics from CSM and a Juris Doctorate (JD) in Law from the University of Denver. The student may take up to 12 semester hours of approved coursework at the DU Law School that will apply towards the M.S. degree at CSM. The student may also take up to 12 semester hours of approved coursework at CSM that will apply towards the JD degree at DU. The student's program of study is coordinated by representatives from both universities.

In addition, if the student is pursuing the joint Ph.D. and JD degree program, he or she may take a minor in Law from DU that counts towards the degree in Mineral Economics at CSM. For more information about the DU law degree, contact:

Professor Jim Otto 
Director of Graduate Studies
College of Law
University of Denver
1900 Olive Street
Denver, CO 80220
Phone: 303-871-6052
Email: jotto@law.du.edu

Admissions/Entrance Requirements

Applicants to the Mineral Economics program are expected to have completed a four-year bachelor’s degree from an accredited institution. Students admitted to the program are chosen for their strong intellect, integrity, work ethic, and quantitative skills as demonstrated by their course work, GPA, and scores on either the GRE or the GMAT. All students must have completed Calculus (MACS 111 or equivalent), Introductory Probability and Statistics (MACS 323 or equivalent), Principles of Microeconomics (EBGN311 or equivalent) prior to entering the program.

In addition, students must demonstrate a strong interest in energy, minerals, public policy, and/or related environmental and technological issues. These interests will be reflected in the letter of interest and previous involvement in these areas. The Division is also looking for strong leadership potential as shown by previous academic, personal, and employment successes.

Fall Admission Yes
   Financial support priority deadline Jan. 15
   U.S. citizen application deadline July 1
   International application deadline April 1
Spring Admission Yes
   U.S. citizen application deadline Nov. 1
   International application deadline Sept. 1
GRE required Yes
(or GMAT)
   Subject test required No
   Average accepted Verbal 502
   Average accepted Quantitative 736
   Average accepted Analytical Writing 4.1

Financial Assistance

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 $1,000 per month for 9 months. Some faculty hire research assistants, but usually these positions go to continuing students. Most awards begin in the fall term. For consideration, you must have your application complete (with all letters of recommendation, transcripts, etc.) by March 1st for Fall or by October 1st for Spring. 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 $1,200 to $8,000 a semester. CSM does not grant tuition waivers.

Western Regional Graduate Program

The mineral economics program at CSM participates in the Western Regional Graduate Program (WRGP.) Residents of Alaska, Arizona, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, North Dakota, Oregon, South Dakota, Utah, Washington, and Wyoming are eligible to enroll in our Mineral Economics graduate programs at resident tuition rates. Students do not have to meet specific financial criteria, but they must meet all admissions requirements and deadlines set by the institution. All students who indicate residency of one of these states on the admission application will automatically be included in this program.

Contact

Kathleen Feighny
Program Manager
Division of Economics and Business
Colorado School of Mines
Golden, Colorado 80401
Phone: 303-273-3979
FAX: 303-273-3416