International School of Economics
TBILISI STATE UNIVERSITY
16 Zandukeli Street, Tbilisi 0108 Georgia
tel/fax: (+995 32) 22 11 17, e-mail: [email protected] , website: www.iset.tsu.ge
APPLICATION FOR ADMISSION
2006
Applications may be submitted electronically at the above e-mail address or website.
ELECTRONIC APPLICATION IS STRONGLY ENCOURAGED.
Paper applications may be submitted in person or by mail at the
ISET Admissions Office
Tbilisi State University
1 Chavchavadze Ave., Room 220
0128 Tbilisi, Georgia
To ensure full consideration and participation in preparatory courses,
applications and supporting documents must be received by June 23, 2006.
EARLY APPLICATION IS STRONGLY ENCOURAGED.
This application is free of charge and may be duplicated.
Overview
The International School of Economics at Tbilisi State University (ISET) will open its doors in
fall 2006. Modeled after similar “centers of excellence” in Prague, Budapest, Moscow, and Kiev,
ISET will be an autonomous graduate school of Tbilisi State University, serving the entire
Caucasus region. ISET will consist of:



a two-year Master's program, adhering to international academic standards and taught in
English by an international faculty,
an affiliated research center, and
a regional outreach program, through which ISET will create partnerships with other
universities, government agencies, and think tanks in order to disseminate modern
analytical methods, research findings, and teaching techniques.
The ISET Master’s Program will prepare its students to work immediately upon graduation as
economists in their home country in policy-related positions and the private sector, or to pursue
Ph.D. studies abroad. The program’s content, quality, and resources are intended to match those
available in master’s programs in North America and Western Europe.
ISET receives major financial support from a group of local and international donors, including
the Government of Georgia, the Swedish International Development Cooperation Agency (Sida),
BP, and the Open Society Institute.
ISET is managed by Prof. Richard Beilock (University of Florida.) Supervision of the School’s
academic quality is provided by an international advisory board:










Refik Erzan, Professor of Economics, Bogazici University, Istanbul
Riccardo Faini, Professor of Political Economy, Università degli Studi di Roma "Tor
Vergata"
Randy Filer, Professor of Economics, Hunter College and the Graduate Center, City
University of New York
Mordechai Kreinin, University Distinguished Professor of Economics, Michigan State
University
Michael Michaely, Professor (emeritus), The Hebrew University of Jerusalem
Joseph Pelzman, Professor of Economics, International Affairs, and Law, George
Washington University, Washington, D.C.
Pekka Sutela, Director, Bank of Finland Institute for Economies in Transition
Dominick Salvatore, Professor of Economics, Fordham University, New York
Stephen Yeo, Chief Executive Officer, Centre for Economic Policy Research (CEPR),
London
Jochen Zimmermann, Professor of Economics, University of Bremen
Master’s Curriculum
The teaching program will consist of a rigorous two-year academic curriculum, comparable to
that of leading Western universities and taught in English by an international faculty on the basis
of the preeminent graduate-level textbooks. The ISET program is much more quantitative and
analytical—and much more demanding—than existing economics programs in the Caucasus. The
curriculum will combine applied and theoretical courses in all major areas of economics, and
students will be expected to master technical research skills and become proficient with statistical
and econometrics software. To earn a Master’s degree, students will complete two years of fulltime coursework and defend a thesis applying the analytical skills they acquire in the program.
The curriculum will be supplemented by internships, faculty-led research projects, and frequent
opportunities to interact with policymakers and practitioners.
To accommodate faculty visiting from universities in Western Europe and North America, the
School’s academic calendar will consist of five two-moth modules per year. Each “mini-term”
will comprise seven weeks of instruction and one week for review and exams. This system has
proven successful at analogous schools in Kiev and Moscow and can be adapted to the European
Credit Transfer System, which will facilitate recognition of the degree internationally.
The first year of studies consists of full-year sequences in four core theoretical disciplines:
macroeconomics, microeconomics, econometrics/statistics, and mathematics for economists.
Besides mandatory economic courses, first-year students will take supplementary courses in
academic writing and English and attend special workshops (e.g. orientations to the library and
Internet, introductions to statistical and econometric software).
The second year of studies consists of coursework in applied fields (e.g., economics of the public
sector, international economics and finance, transition economics, industrial organization,
financial institutions and markets, international trade, etc.) and a year-long research methods
workshop. During their second year, ISET students must complete and defend a thesis, written in
English.
All courses are taught in English by highly-qualified international faculty. Below is a list of
faculty who will be resident in Tbilisi for the entire 2006-07 academic year, with a summary of
their qualifications and areas of specialization. The first-year courses that they will teach in 200607 are given in italic. The faculty will be supplemented by short-term visiting faculty from
abroad.
Richard Beilock (Ph.D., Pennsylvania State, 1981), Professor of Food and Resource Economics,
University of Florida. Transportation; international development; international trade.
Mathematics for Economists.
Avtandil Gagnidze (Doctor Hab. of Sciences, 1994, Mathematical Institute of Georgian
Academy of Sciences; Candidate of Sciences, Moscow State University, 1985), Professor of
Mathematics, Tbilisi State University. Mathematical methods for economics and finance;
optimization and game theory. Mathematics for Economists.
Tamar Khitarishvili (Ph.D., Minnesota, 2003) Assistant Professor of Economics, Bard College,
Annandale-on-Hudson, New York. Economic growth; education and human capital
accumulation. Macroeconomics, Microeconomics.
Kijong Kim (Ph.D., Minnesota, 2005) Visiting Assistant Professor, Bard Center for
Environmental Policy, Bard College, Annandale-on-Hudson, New York. Economic development
and growth; international trade and environment; quantitative methods, econometrics.
Macroeconomics, Microeconomics.
Karine Torosyan (Ph.D., Oregon State, 2005), Assistant Professor, ISET. International
economics, applied econometrics. Statistics and Econometrics.
Conditions of Study
The program provides high-quality instruction in modern economics, conforming to international
academic standards. The academic requirements of the ISET Program are intense. Students will
not be able to successfully complete their studies if they are employed outside of the School.
Students in good academic standing, who agree to focus all their energies on their studies and not
accept outside employment, are therefore eligible for a stipend. Students who are not from Tbilisi
may also receive a housing stipend, provided they remain in good academic standing and do not
accept outside employment of any kind.
Students who receive a stipend in their first year may be asked to perform occasional tasks at
ISET. Second-year students may be required to perform ISET-related work (up to 12 hours per
week) in order to continue receiving a stipend. Students may, for example, be required to assist a
professor with a first-year course, take part in a research project, work as an intern in a
government agency or other organization involved in economic policy research, translate course
syllabi or other economic literature into their native language, help organize a conference, work
in the computer laboratory, etc.
Cost of Study
To ensure that ISET students have every chance to perform well in their studies, ISET will strive
to provide the conditions necessary for success in this demanding program. All textbooks and
teaching materials will be provided at no cost during the academic year. ISET is building its own
collection of economic books and journals and a separate computer network for the use of its
students. Modern computer workstations will enable students to make intensive use of the
Internet and CD-ROM databases. Each student will have a personal e-mail account.
Students in the United States would have to pay many thousands of dollars each year to receive a
similar education, and in fact the cost of your participation in the ISET Program also amounts to
many thousands of dollars each year. The cost is largely defrayed by ISET’s donors and Tbilisi
State University. They are making a substantial investment in your future, but they expect you to
be willing to invest in your own future as well. For that reason, ISET will establish tuition fees. In
ISET’s first year (the 2006-07 academic year) this fee will be waived, thanks to the generosity of
ISET’s many supporters. In subsequent years, ISET will charge a fee for tuition. We estimate that
in 2007-08 tuition will cost the equivalent of US$1,000.
While ISET will insist upon the principle of fee-based tuition, as a matter of policy it will work to
ensure that no qualified student is denied admission for financial reasons. The School will make
every effort to provide deserving students with scholarships, teaching or research assistantships,
and other forms of financial aid. The School will also endeavor to establish a student loan
program in cooperation with a local bank.
Admissions
The International School of Economics at Tbilisi State University (ISET) strives to attract
qualified participants from all regions of Armenia, Azerbaijan, and Georgia, as well as from
other countries. ISET selects participants on the basis of merit and in a spirit of open competition.
ISET does not discriminate on the basis of ethnic origin, national origin, race, color, or gender in
its hiring practices or in the administration of its educational policies, selection procedures,
scholarship and loan programs, and other ISET-administered competitions. ISET grants
participants of either gender or any race, color, national and ethnic origin all rights, privileges,
and opportunities that are generally accorded or made available to individuals through ISET.
ISET will conduct admission exams and interviews in Baku, Tbilisi, and Yerevan and will accept
up to 50 students for admission in Fall 2006. Applicants who submit their documents by July 23,
2006 will be invited to take part in a one-week preparatory course, subject to space limitations,
before taking admissions exams. ISET will also organize a two-week summer school to help
students prepare further.
Previous education in economics is not required. Admission to the program is based on merit and
is open to any citizen of Armenia, Azerbaijan, Georgia, and neighboring countries who meets the
basic eligibility requirements:




Specialist’s or bachelor’s degree by the time of entrance from an accredited institution;
Proficiency in English;
Strong mathematical skills;
Timely submission of the required admission documents.
Selection for admission is based on a review of the application materials, the results of written
examinations in English, mathematics, and economics principles, and an interview in English.
1. Application Form
Students are encouraged to apply for admission to the ISET master’s program beginning in May
2006. Early applications are welcome. Applicants who submit their documents by June 23, 2006
will have priority for participation in summer preparatory courses. Application forms may be
obtained on the Internet at e-mail: [email protected] , website: www.iset.tsu.ge,
directly from the ISET Admissions Office in Tbilisi, from partner institutions in other cities, or
by mail.
The ISET Application Form requests applicants to provide general personal information; a
description of their educational background, professional experience, and knowledge of the
English language; and a statement of purpose.
2. Statement of Purpose
An important part of the application is the one- or two-page statement of purpose relating why
you wish to study economics and how a master's degree in economics is related to your career
goals and intellectual interests. The statement of purpose should discuss your academic and
professional interests and objectives and describe your goals and how the ISET Program can help
you meet them. If you are currently involved in economic research, please include a brief
description. In general, a good statement of purpose should include answers to the following
questions:

Based on your personal background, interests, and experience, what do you expect to
gain from studies at ISET, and what will you contribute to the program?

What have you already done, at any level, to gain an understanding of economic
processes?

How does the ISET Program fit into your short-term and long-term career goals?
The statement of purpose should be entirely the applicant’s original work, written in English by
the applicant and not translated for the applicant by another person.
3. References
Please list two individuals, such as university instructors or an employer, who have supervised
you in an academic, professional, or other capacity, and who can comment on your intellectual
ability, creativity, initiative, and leadership potential. If you wish, you may ask them to complete
the attached recommendation form, seal it in an envelope, sign over the flap, and return to you
for submission.
Recommendation letters must be written in or translated into English. Letters of recommendation
should include the name, title, address, and telephone number of the person providing the
recommendation and should be signed and officially stamped.
4. Transcripts
Certified transcripts are the lists of subjects studied and grades received by the student in each
year of study from all universities or institutes attended. Transcripts should be issued on
university letterhead or have a university stamp over the signature of the issuing officer. Please
provide transcripts in English, if possible.
5. Deadlines
Please submit complete applications (application form, statement of purpose, transcripts,
recommendations, and other supporting documents) to the ISET Admissions Office by June 23,
2006. You are encouraged to apply online but supporting documents should be submitted in
person, faxed, or mailed. Please be sure that your name appears on all forms submitted. If some
of your documents are submitted under another name, please provide relevant documentation
(e.g. a copy of your marriage certificate.)
Applicants who apply by June 23, 2006 may be invited to take part in a one-week preparatory
course in Baku, Tbilisi, or Yerevan in June, subject to space limitations, to prepare for entrance
examinations.
ADMISSIONS SCHEDULE AND ACADEMIC CALENDAR
Activity or Event
Place
Dates
Deadline for Application for ISET Summer School
Tbilisi, Baku,
Yerevan
June 23, 2006
ISET Preparation Courses
Tbilisi, Baku,
Yerevan
June 26-July 1
Entrance Examinations and Interviews (I round)
Tbilisi, Baku,
Yerevan
July 3-7
Summer School
Tbilisi
July 24-August 5
Entrance Examinations and Interviews (II round, if space
available)
Tbilisi
August 7August 11
Term 1
ISET
September 4 –
Oct. 26, 2006
Term 2
ISET
October 30 –
Dec. 21, 2006
Term 3
ISET
January 8 –
March 1, 2007
Term 4
ISET
March 5 –April
26, 2007
Term 5
ISET
April 30 – June
21, 2007
Entrance Examinations:
Criteria for admission include meeting the eligibility requirements, passing written exams in
mathematics, economics, and English, and taking part in an interview. Sample entrance
examinations will be posted on the ISET website.
The examination in English measures the command of reading comprehension, written
expression, and English grammar.
Three suggestions for preparation



First, concentrate on reading, language structure, and writing ability rather than on
vocabulary. When you work on these three areas, you are practicing skills that you can apply
during the examination regardless of its content.
Second, spend time preparing every day for at least an hour instead of sitting down to review
once a week for several hours: frequent shorter sessions produce better results on the tests.
Finally, do not try to memorize questions, tests, and tasks from preparation guide books. The
questions on the test that you take may be similar to the questions you have studied, but they
will not be exactly the same.
Recommended literature:
1. Genny Quintana, English File, Intermediate and upper – Intermediate Tests Booklet, Oxford
University Press 2002.
2. Liz Kilbey, English File, Intermediate Test Booklet, Oxford University Press, 2002.
3. Genny Quintana, Natural English Test Booklet (Intermediate), Oxford, 2003.
4. Lindsay White, New Headway-Intermediate Tests, Oxford University Press, 2003.
5. Frances Eales, Cutting Edge – Intermediate and Upper Intermediate, Longman, 2005.
6. English Know how Placement Test, Oxford University Press, 2005.
7. Alice Oshima, Ann Hogue, Introduction To Academic Writing, Longman 2005.
8. Manana Bakradze, Modern Public Speaking, Tbilisi 2004.
9. Lin Lougheed, Barren's, Now To Prepare For the TOEFL Essay, reprinted in 2003.
10. Ann Hogue, First Steps in Academic Writing, Longman 2005.
11. Michaoe Vince with Paul Emmerson, Intermediate Language Practice, Macmillan 2003.
The mathematics examination measures basic mathematical knowledge, thinking, and
problem-solving skills and covers such topics as:

Basic Algebra: sets, subsets and operations, natural, rational and real numbers, number
axis, coordinate system, functions, graphs and transformations, linear functions: equation
of a straight line, slope and intercept, linear equations and inequalities; quadratic,
polynomial and rational functions, root, quadratic equations and inequalities; additional
elementary functions: exponential, logarithmical, and trigonometric functions and
equations.

Mathematics of Finance: arithmetic and geometric progressions, interest rates, simple
and compound interests, net present value and internal rate of return.

Calculus: number sequences, limit of a sequence, number series; limit of a function,
continuity; limits of different quotients, rate of change, derivative, differentiability,
differentiation techniques; curve sketching techniques: derivatives and graphs, increasing
and decreasing, local extrema, concavity, finding of absolute extrema, asymptotes;
integral calculus: antiderivatives, integration by substitution, integration by part; definite
integral, area between curves; calculus of several variables: graphs and level curves,
partial derivatives, directional derivatives and gradients, local extrema, Lagrange
multipliers; differential equations: basic concepts, separation of variables, first-order
linear differential equations.

Linear Algebra: algebra of vectors, scalar multiplication of vectors; matrix algebra:
addition of matrices, matrix multiplication, transpose of a matrix, rank of a matrix,
inverse matrix; the determinant of a square matrix: main property of the determinant,
computing the determinant; systems of linear equations, homogeneous systems,
fundamental solutions, non-homogeneous systems; Gaussian elimination and Cramer’s
rule; linear transformations: basis, change of basis; introduction to the linear
programming: systems of inequalities, corner points, general linear optimization
problem, graphical solutions, graphical introduction to the simplex method.
Recommended literature:
1. R. A. Barnet, M. R. Ziegler, K. E. Byleen. Applied Calculus for Business, Economics,
Life Sciences, and Social Sciences. 8-th edition. Prentice Hall. 2003.
2. L.J. Goldstein, D.C. Lay, D.J. Schneider. Calculus and Its Applications. 10-th edition.
Prentice Hall. 2004.
3. R.A. Adams. Calculus. A Complete Course. 6-th edition. Addison-Wesley. 2006.
4. C. P. Simon, L. Blume, Mathematics for Economists. Norton. 1996.
5. T. Bradley and P. Patton. Essential Mathematics for Economics and Business. John Wiley
& Sons. 1998.
6. M. Wisniewski. Introductory Mathematical Methods in Economics. 2-d edition. McGrow-Hill. 1996.
7. R.Wheeler, W.Peeples. Modern Mathematics with Application to Business and Social
Science. 4-th edition, John Wiley & Sons. 1988.
8. R.Wheeler, K. Neal, R. Hofmann. College Mathematics. John Wiley & Sons. 1996.
9. D. C. Lay. Linear Algebra and its Applications. 3-rd edition. Addison-Wesley. 2003.
The economics examination serves as a basis for the personal interview and is designed to
measure the applicant’s ability to:
 understand basic concepts in economics;
 interpret simple economics graphs; and
 apply basic economic reasoning to everyday issues.
Previous study of economics is not required for admission to the master’s program.
Recommended literature:
1.
Robert N. Pindyck, Daniel L. Rubinfeld. Microeconomics. 4-rd edition. Prentice Hall.
Englewood Cliffs. NJ 07632, 1994.
2.
Gregory Mankiw. Macroeconomics. 2nd edition. Worth Publishers. 1994.
3.
Hal R.Varian. Intermediate Microeconomics. A Modern Approach, 4-th edition. Norton.
1996.
4.
Rudeger Dornbusch, Stanley Fischer, Richerd Startz. Macroeconomics. 7-th edition.
McGraw-Hill. 1998.
Interview
Each candidate who passes all three admission exams will be interviewed in English by an ISET
representative or professional economist. The interviewer will ask questions on the applicant’s
educational and professional background, academic and career goals, and English-language
proficiency. The interview may also include a discussion of the economics exam and the
candidate’s application essay.
Contacting admissions
For further information regarding admission to the ISET master’s program in economics, please
contact:
ISET Admissions Office
Tbilisi State University
1 Chavchavadze Ave., Room 220
0128 Tbilisi, Georgia
Telephone: (+995 32) 22 11 17, fax: (+995 32) 22 11 17.
E-mail: [email protected]
Internet: www.iset.tsu.ge/admissions
International School of Economics
TBILISI STATE UNIVERSITY
16 Zandukeli Street, Tbilisi 0108 Georgia
tel/fax.: (+995 32) 22 11 17, e-mail: [email protected] , website: www.iset.tsu.ge
APPLICATION FORM
(This application form is free of charge and may be duplicated.)
Deadline for receipt of this application is June 23, 2006.
Early applications are encouraged.
Name
__________________________________________________________
(as indicated in passport)
Date of Birth:
_____________________ Place of Birth: ______________________
Current Address:
__________________________________________________________
__________________________________________________________
__________________________________________________________
Telephone Numbers: Home telephone ___________________________________________
(Please include country
and city codes)
Work telephone ___________________________________________
Fax:
___________________________________________________________
E-mail:
___________________________________________________________
Name and Contact Information
for Two References
_____________________________________________________
(see instructions)
___________________________________________________________
If you are admitted to the program,
will you need housing assistance
during the academic year?
Note the source from which
you received the information
about the program
Yes ______
No ______
Internet
Newspaper_______________
TV report
Radio _______________________
Other
___________________
University___________________
1. Education: Beginning with the most recent, list the universities and institutes you have attended,
the years of attendance, the degree conferred or expected, and specialization.
Institution attended
Years
Degree
Specialization
2. List the most advanced economics courses you have taken (up to five):
Course and Main Textbook
Year
Grade
Institution
3. List the five most advanced mathematics and statistics courses you have taken:
Course and Main Textbook
Year
Grade
Institution
4. Other relevant studies (short-term courses, study abroad, training programs, etc.):
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
5.
Academic honors and dates received _________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
6. Professional Experience (begin with most recent):
Employer
Job Title
Dates
7. Below please give a brief, frank statement about your experience using English, including where
and for how long you studied English and the extent to which you have used it in your
professional or academic career.
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
8. If you have taken international standardized examinations (e.g., TOEFL, Cambridge Proficiency
Exam, IELTS, GRE, GMAT), please attach photocopies of your score reports.
9. Please indicate your proficiency in English and other languages on the following scale:
Writing and Composition
Poor Good Excel- Native
lent
English
Speaking and Listening
Poor Good Excel- Native
lent
Poor
Reading
Good Excellent
Native
10. Statement of Purpose. Please write a short essay below on why you wish to study economics and
how a master’s degree in economics is related to your career goals and intellectual interests.
ISET
CONFIDENTIAL LETTER
OF RECOMMENDATION
International School of Economics
TBILISI STATE UNIVERSITY
16 Zandukeli Street, Tbilisi 0108 Georgia
tel./fax: (+995 32) 22-11-17, e-mail: [email protected] , website: www.iset.tsu.ge
PART I. TO BE COMPLETED BY THE APPLICANT
Type or write in capital letters
Family Name _________________________________ First Name_______________________________
Date of Birth (DD/MM/YY)________________________ Place of Birth ____________________________
PART II. TO BE COMPLETED BY THE RECOMMENDER
THE INFORMATION IN THIS LETTER WILL REMAIN CONFIDENTIAL.
PLEASE COMPLETE THIS FORM, SEAL IT IN AN ENVELOPE, WRITE YOUR SIGNATURE
ACROSS THE FLAP, AND RETURN IT TO THE APPLICANT.
Please rate the applicant in comparison with others of his or her age and position whom you have known.
Outstanding
(top 3%)
Excellent
(top 10%)
Very Good
(top 25%)
Good
(top 40%)
Average
Below
Average
Unable to
Assess
Academic
Performance
Intellectual
Ability
Seriousness of
Purpose
English
Ability
Mathematical
Ability
If possible, indicate the number and type of students (e.g., undergraduate, graduate or postgraduate) with whom
you are comparing the applicant:
______________________________________________________________________________________
How long have you known the applicant?
______________________________________________________________________________________
PLEASE SEE OTHER SIDE
In what capacity have you known the applicant?
______________________________________________________________________________________
______________________________________________________________________________________
PLEASE ANSWER THE FOLLOWING THREE QUESTIONS IN THE SPACES PROVIDED. PRECISE
DEFINITION OF THE CANDIDATE’S STRONG AND WEAK POINTS WILL BE MORE HELPFUL THAN
GENERAL COMMENTS.
Please evaluate the applicant’s qualifications and potential for graduate study in economics:
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
Please assess the applicant’s background in mathematics and English.
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
Please comment on any qualities or abilities of the applicant not discussed above (e.g., creativity, leadership,
initiative) that will give insight into his or her motivation and ability for advanced study in economics.
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
Signature _______________________________________ Date __________________________________
Name __________________________________________ Position _______________________________
Current Address:
________________________________________________________________
________________________________________________________________
Telephone Numbers:
home_________________________ work_____________________________
Fax:
________________________________________________________________
E-mail:
________________________________________________________________