Master’s (Doctoral) Program in Economics

Analyze Economic Issues and Consider Corporate and Government Strategies

In the past, Japan has been considered a wealthy country in terms of GDP per capita and household savings, as well as the world’s top net foreign asset holder with a current account surplus, backed by its highly productive manufacturing industry. In recent years, however, the country’s potential growth rate has declined due to having the fastest-declining birthrate and aging population among developed countries, and its relationship with prolonged deflation is also a matter of concern. To overcome this deflation, unprecedentedly bold monetary easing has been pursued, and its direct and side effects are coming under scrutiny. Indeed, companies and governments are being asked to analyze and answer the question of whether wage increases can keep pace with rising prices and promote economic growth, and whether it is possible to redeem the largest government debt in the industrialized world when nominal interest rates rise.

The role of economics is to analyze and solve such economic problems by assuming economically rational economic agents (firms and households) and analyzing their factors and trends. Reexamination of that assumption of rationality is also a subject of advanced research. For example, microeconomics considers the functions and limitations of market mechanisms and analyzes market competition, the strategies of firms, and the nature of government policy. Macroeconomics, on the other hand, considers the causes of economic growth and business cycles, and the methods and effects of monetary and fiscal policy responses. Econometrics, meanwhile, is an analytical method that links these theories to economic forecasting by demonstrating them with real-world data. This understanding can be applied to policy formulation and development of strategies based on accurate economic analysis, whether in business or government.


In the Master’s Program, students learn systematized economic theories and analytical methods that will prove useful for economic analysis, forecasting, consulting, asset management, and fund-raising at research institutes, financial institutions, think tanks, and government departments in Japan and abroad. In the Doctoral Program, we actively support students in their quest to obtain a doctoral degree in three years through fostering independent researchers who can be active in academic research institutions.

Granted Degree


Available Teaching Licenses and Subjects

  • High School Specialized Teacher (Civics and Commercial)

*Only Master’s degree programs are eligible for a teacher’s license. If you wish to obtain a teacher’s license, a Type 1 license should already have been obtained, or the requirements for obtaining a Type 1 license should have been fulfilled in advance for the subjects you wish to be licensed in. Otherwise, it is not possible.

Program Features

Systematized Curriculum

Students learn microeconomics, macroeconomics, and econometrics, and the common foundation of modern economics, as required courses (core courses) starting in the spring semester of their first year. Based on this theoretical system, students develop more advanced and specialized knowledge in applied economics courses that they can select according to their own research interests.

Small-group, Interactive Thesis Exercises

To complete a master’s thesis that takes recent research trends into account, students must take a thesis seminar where they receive small-group, interactive guidance from their advisors. Students are provided with the latest expertise in advanced analytical methods and data for each research topic, and also develop presentation skills through seminars.

Selection by Standardized Economics Examinations

Applicants for the Master’s Program entrance examination may be, exempted from the written examinations on specialized subjects based on their evaluation in the Japan Economics Educational Association’s ERE (Economics Examination). We aim to be a graduate school of choice by emphasizing an understanding of standard economics in academia and ensuring that there is no mismatch between the applicant’s knowledge and the content of the written exam.

Selected Thesis Topics

  • Chinese Bride Price Culture and Women’s Education
  • The Influence of Human Resource Management and WLB Policies on Women’s Utilization in Firms: An Empirical Analysis Using Firm Panel Data
  • IPO Offer Pricing in Japan and Caution for Retail Investors
  • Research on the Impact of Household Income on Children’s Level of Education
  • Analysis of Social Networks and Technology Diffusion -Application of the Linear Threshold Model
  • The Impact of Urban Redevelopment on Land Prices in the Surrounding Area: The Case of the Toranomon Redevelopment Project
  • Effect of Wife’s Income on the Number of Children in Japan
  • The Trade Effects of US Antidumping Actions against China: What was the Impact of Financial Crisis?
  • Fair Solutions to Distributive Issues Involving Compensation, Responsibility, and Equality of Opportunity
  • Economic Analysis of Organizational Integration of Water and Sewage Systems in Japan
  • CBDC in the Theory of Banking
  • Labor Force Participation of Japanese Married Women in 1997, 2002, and 2007.
  • A Study of Japanese Trade Revenues and Earnings in a Depreciation of Yen
  • A Study on Influencing Factors of Household Asset Selection Behavior in China
  • Impact of China-ASEAN Free Trade Agreement on Agricultural Trade

Educational Policies

Master’s Program

The Master’s Program in Economics sets standards for the skills and knowledge students should acquire before graduation as described below: Those who fulfill the graduation requirements and pass their thesis defense shall be deemed to have acquired these qualities and will be awarded a diploma.

  1. The ability to conduct theoretical, demonstrative and historical analysis
  2. The ability to think logically about phenomena and issues faced by modern society using knowledge of economics
  3. The ability to express the information hidden in data through data processing and analysis
  4. The ability to properly conduct research and complete academic papers based on the results

Doctoral Program

The Doctoral Program in Psychology sets standards for the skills and knowledge students should acquire before graduation as described below: Those who fulfill the graduation requirements and pass their dissertation defense shall be deemed to have acquired these qualities and will be awarded a diploma.

  1. The ability to deepen and enhance one’s abilities as an expert of the major that one has selected
  2. The ability to set up highly academic research themes and conduct observations and analyses using appropriate frameworks of economics studies
  3. The ability to pursue unique research as an independent researcher and to contribute to global and social development using the expertise and insight acquired in one’s research
  4. The ability to properly conduct research, complete academic papers based on the results, and communicate them

Master’s Program

In accordance with the diploma policy, with an aim to have first-year students acquire economic theory and analytical methods through coursework and have second-year students decide on a theme and write a thesis based on advice provided by the Advisor/Examiner Group, the Master’s Program in Economics constructs its curriculum with courses aligned to the following purposes

  1. First-year coursework: offer Topics in Microeconomics I, Topics in Macroeconomics II, Topics in Econometrics I, and Thesis Seminar I (Basics) as Compulsory Courses and offer Applied Economics courses in accordance with individual research interests
  2. Special Lectures on Microeconomics I and Special Lectures on Macroeconomics II teach economic theory and analytic methods; and Special Lectures on Econometrics I teaches quantitative analytical methods. Thesis Seminar I (Basics) and Elective Courses teach how phenomena and issues challenging modern society can be analyzed from an economic perspective based on the latest research trends.
  3. Second-year coursework: an Advisor/Examiner Group comprising three faculty members including the research advisor provides guidance on thesis writing, such as setting the thesis theme and selecting the framework for observation and analysis.
  4. In the thesis defense, question whether students’ thesis analyzes the research theme in an appropriate economics framework and is written logically, clearly identifying the academic significance of the research.

Doctoral Program

With an aim to achieve the diploma policy, the Doctoral Program in Economics seeks to have students acquire sophisticated economic theories and analytical methods, receive guidance in writing their dissertations in Research Guidance and pursue higher levels of perfection by presenting their research at seminars held at the university:

  1. Offer Research Guidance as a Compulsory Course and provide guidance in setting dissertation research themes and selecting analytical methods.
  2. Offer as coursework in the fields of Theoretical Economics, Applied Economics, and Economic Statistics as Elective Compulsory Courses.
  3. Have students pursue higher levels of perfection by presenting their research at seminars held at the university to receive advice from their research advisor and other faculty members.
  4. Provide guidance so that some research outcomes are published in peer-reviewed academic journals.
  5. At the dissertation defense, question whether the dissertation has unique academic value and whether the student has the ability to conduct research as an independent researcher

Master’s Program

The Master’s Program in Economics seeks students with the following qualities:

  1. Students who are interested in observing and analyzing social phenomena and issues from an economics perspective
  2. Students who have acquired basic undergraduate-level knowledge of Microeconomics, Macroeconomics and Statistics
  3. Students with basic undergraduate-level English skills
  4. Students who have developed a strong interest in economic phenomena and issues through their experience in society and students who are eager to acquire methods of economic analysis to support career development

Doctoral Program

The Doctoral Program in Economics seeks students with the following qualities:

  1. Students who are eager to work in research and education in the field of economics or engage in studies and projections that apply economics
  2. Students who have acquired a Master’s degree-level knowledge of Economics.
  3. Students who can analyze their research theme within an appropriate economic framework and write logically while clarifying the academic significance of the research.

Faculty Members

Ken AOKI Professor

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Satoshi KAWANISHI Professor

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Aiko KURUSHIMA Professor

Takahisa DEJIMA Professor

Sayaka NAKAMURA Professor

Tetsuya HORIE Professor

Naoaki MINAMIHASHI Professor

Morihiro YOMOGIDA Professor

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Masamitsu KURATA Associate Professor

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Asuka TAKEUCHI Associate Professor

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Toru NAKAZATO Associate Professor

Matthias SCHLEGL Associate Professor

Research Areas [ Macroeconomics,International finance ]Theoretical analysis of the dynamics of inequality.

Masaki TAKAHASHI Project Assistant Professor

Akira NAGAE Project Assistant Professor

Sophia University

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