phd economics ut austin

Ph.D. Program

Advancing to Doctoral Candidacy

When you’re ready to advance to doctoral candidacy, review the policies and procedures.

Doctoral students are required to review the degree plans for their program, along with information about specific degree requirements and estimated timelines to reach various benchmarks for the different degree plan specializations.

Oral Examinations

Once your dissertation is nearing completion, it’s time to schedule your defense—your final oral examination.

Ph.D. in Statistics

Our doctoral program in statistics gives future researchers preparation to teach and lead in academic and industry careers.

Program Description

Degree type.

approximately 5 years

The relatively new Ph.D. in Statistics strives to be an exemplar of graduate training in statistics. Students are exposed to cutting edge statistical methodology through the modern curriculum and have the opportunity to work with multiple faculty members to take a deeper dive into special topics, gain experience in working in interdisciplinary teams and learn research skills through flexible research electives. Graduates of our program are prepared to be leaders in statistics and machine learning in both academia and industry.

The Ph.D. in Statistics is expected to take approximately five years to complete, and students participate as full-time graduate students.  Some students are able to finish the program in four years, but all admitted students are guaranteed five years of financial support.  

Within our program, students learn from global leaders in statistics and data sciences and have:

20 credits of required courses in statistical theory and methods, computation, and applications

18 credits of research electives working with two or more faculty members, elective coursework (optional), and a guided reading course

Dissertation research

Coursework Timeline

Year 1: focus on core learning.

The first year consists of the core courses:

• SDS 384.2 Mathematical Statistics I
• SDS 383C Statistical Modeling I
• SDS 387 Linear Models
• SDS 384.11 Theoretical Statistics
• SDS 383D Statistical Modeling II
• SDS 386D Monte Carlo Methods

In addition to the core courses, students of the first year are expected to participate in SDS 190 Readings in Statistics. This class focuses on learning how to read scientific papers and how to grasp the main ideas, as well as on practicing presentations and getting familiar with important statistics literature.

At the end of the first year, students are expected to take a written preliminary exam. The examination has two purposes: to assess the student’s strengths and weaknesses and to determine whether the student should continue in the Ph.D. program. The exam covers the core material covered in the core courses and it consists of two parts: a 3-hour closed book in-class portion and a take-home applied statistics component. The in-class portion is scheduled at the end of the Spring Semester after final exams (usually late May). The take-home problem is distributed at the end of the in-class exam, with a due-time 24 hours later. 

Year 2: Transitioning from Student to Researcher

In the second year of the program, students take the following courses totaling 9 credit hours each semester:

• Required: SDS 190 Readings in Statistics (1 credit hour)
• Required: SDS 389/489 Research Elective* (3 or 4 credit hours) in which the student engages in independent research under the guidance of a member of the Statistics Graduate Studies Committee
• One or more elective courses selected from approved electives ; and/or
• One or more sections of SDS 289/389/489 Research Elective* (2 to 4 credit hours) in which the student engages in independent research with a member(s) of the Statistics Graduate Studies Committee OR guided readings/self-study in an area of statistics or machine learning. 
• Internship course (0 or 1 credit hour; for international students to obtain Curricular Practical Training; contact Graduate Coordinator for appropriate course options)
• GRS 097 Teaching Assistant Fundamentals or NSC 088L Introduction to Evidence-Based Teaching (0 credit hours; for TA and AI preparation)

* Research electives allow students to explore different advising possibilities by working for a semester with a particular professor. These projects can also serve as the beginning of a dissertation research path. No more than six credit hours of research electives can be taken with a single faculty member in a semester.

Year 3: Advance to Candidacy

Students are encouraged to attend conferences, give presentations, as well as to develop their dissertation research. At the end of the second year or during their third year, students are expected to present their plan of study for the dissertation in an Oral candidacy exam. During this exam, students should demonstrate their research proficiency to their Ph.D. committee members. Students who successfully complete the candidacy exam can apply for admission to candidacy for the Ph.D. once they have completed their required coursework and satisfied departmental requirements. The steps to advance to candidacy are:

• Discuss potential candidacy exam topics with advisor
• Propose Ph.D. committee: the proposed committee must follow the Graduate School and departmental regulations on committee membership for what will become the Ph.D. Dissertation Committee
•   Application for candidacy

Year 4+: Dissertation Completion and Defense

Students are encouraged to attend conferences, give presentations, as well as to develop their dissertation research. Moreover, they are expected to present part of their work in the framework of the department's Ph.D. poster session.

Students who are admitted to candidacy will be expected to complete and defend their Ph.D. thesis before their Ph.D. committee to be awarded the degree. The final examination, which is oral, is administered only after all coursework, research and dissertation requirements have been fulfilled. It is expected that students will be prepared to defend by the end of their fifth year in the doctoral program.

General Information and Expectations for All Ph.D. students

• 2023-24 Student Handbook
• Annual Review At the end of every year (due May 1), students are expected to fill out the Annual Progress Review . 
• Seminar Series All students are expected to attend the SDS Seminar Series
• SDS 189R Course Description (when taken for internship)
• Internship Course Registration form
• Intel Corporation
• Berry Consultants

Attending Conferences 

Students are encouraged to attend conferences to share their work. All research-related travel while in student status require prior authorization.

• Request for Travel Authorization (both domestic and international travel)
• Request for Authorization for International Travel  

FINANCE PH.D.

JOIN TOP MINDS IN FINANCE

Applications are no longer being accepted for Fall 2024

Your Future in Finance

• Finance Department

APPLICATION DEADLINE

The application deadline for the Finance Doctoral Program is December 15.

***Applications will be accepted until February 15, but cannot guarantee applications submitted/completed after the December 15 deadline will still be considered for admissions.***

Why should you get your Finance PhD at McCombs?

Our faculty are not only intellectual leaders, they are also highly devoted to our PhD students. Faculty frequently co-author with current and former students teaching them the skills to successfully publish and helping jump-start their publishing careers. We hold a weekly PhD research seminar for PhD students where students present their ongoing work to faculty and we discuss prominent avenues for research. We have a strong collaboration with the Economics Department and our program of work  has a strong economics foundation.

Gregory Weitzner, Ph.D. Alumnus

"UT Austin is a fantastic place to do a PhD in Finance. The faculty are extremely nurturing and genuinely care about the PhD program. They challenge you and yet are always approachable. With such a large department, you can find anyone working on something related to what you are interested in. Finally, you can't beat living in Austin."

Kevin Mei, Current Ph.D. Student

"The UT Finance PhD program has been a tremendous launchpad for my academic career. Among its many strengths, the department is especially oriented towards fostering genuine relationships between faculty and students. All faculty, from junior to senior, seem interested in my success. This tight-knit atmosphere makes it easy for PhD students to approach world-class researchers and has helped launch papers for almost all of my cohort. The steady stream of great seminars and conferences has also been an invaluable opportunity for me to connect with many giants of our profession in a warm environment. The combination of this exposure and strong foundational training has made UT an ideal place to start my academic career."  

Eric Vance, Current Ph.D. Student

"The faculty put so much time and effort into the students. They want to see us succeed and have fostered an environment where they are readily available and frequently provide feedback. Their advice made the transition to research easier, and my own work has improved greatly from insights I gathered discussing with them."

Preparation and Qualifications

PREPARATION AND QUALIFICATIONS

The Texas McCombs Finance doctoral program assumes that students have taken advanced courses to establish a reasonable mathematical, statistics, and economics background. Adequate computer programming skills are necessary for coursework.

Prospective applicants are required to hold a four-year bachelor's degree (does not need to be a degree in finance) or equivalent before starting the program.

Please also see our  FAQ page for more information.

Academic Leadership

We have some of the most influential faculty in the profession with important leadership and editorial positions:

Sheridan Titman

Dr. Sheridan Titman

Editor, Review of Financial Studies: 1996-1998 Editor, International Review of Finance: 1999 ± 2004 Editor, Foundations and Trends in Finance: 2013- present Associate Editor, Real Estate Economics: 1986-present Associate Editor, Journal of Real Estate Finance and Economics: 1987-present Associate Editor, Review of Financial Studies: 1987-1990 Associate Editor, Journal of Finance: 1990-2000 Associate Editor, Journal of Housing Economics: 1991-present Associate Editor, Journal of Financial and Quantitative Analysis: 1991-1995 Associate Editor, Pacific Basin Finance Journal: 1991-present Associate Editor, Review of Financial and Quantitative Analysis: 1994-present Associate Editor, Journal of Financial Research: 1996-2000

Officer Positions: Vice President: Western Finance Association: 2004-2005 Program Chair: Western Finance Association: 2005-2006 President: Western Finance Association: 2006-2007 Vice President: American Finance Association 2010 President Elect: American Finance Association 2011 President: American Finance Association 2012 Vice President and Program Chair: American Real Estate and Urban Economics Association 2016 President: American Real Estate and Urban Economics Association 2018

Laura Starks

Dr. Laura Starks

Editorial: Editor, Review of Financial Studies (2008-2014) Editor,FMA Survey and Synthesis Series (2016-present) Advisory Editor, Financial Analysts Journal (2016-present) Advisory Editor, Financial Management (2016-present)  

Officer Positions: President: AFA (American Finance Association), present President: Society of Financial Studies (2017-2020) Vice-President: Society of Financial Studies (2014-2017) President: Western Finance Association (2015-2016) President-elect and Program Chair: Western Finance Association (2014-2016) Vice-President: Western Finance Association (2013-2014) President: Financial Management Association (1999-2000)

John Griffin

Dr. John Griffin

Editorial: Associate Editor, Review of Financial Studies, June 2012-May 2015

Officer Positions: President, Western Finance Association, 2022. Vice President, President-Elect, Western Finance Association, 2020, 2021. Chair, Society of Financial Studies (SFS) Cavalcade, 2013. Vice-Chair, Society of Financial Studies (SFS) Cavalcade, 2012

Clemens Sialm

Dr. Clemens Sialm

Editorial: Review of Financial Studies, Editor, 2023-present Journal of Finance, Associate Editor, 2022-2023 Review of Asset Pricing Studies, Editor, 2022-2023 Journal of Pension Economics and Finance, Editor, 2016-2023 Financial Management, Associate Editor, 2016-2023 Journal of Financial Markets, Associate Editor, 2016-2023 International Review of Finance, Associate Editor, 2014-2023 Review of Financial Studies, Associate Editor, 2010-2013 Management Science, Associate Editor, 2009-2019 Review of Asset Pricing Studies, Associate Editor, 2017-2021

Officer Positions: Chief Executive Officer, Texas McCombs Investment Advisors, 2017-present Vice President, Midwest Finance Association, 2022-present

William Fuchs

Dr. William Fuchs

Editorial: Associate Editor for the American Economic Review 2012 -2014 Associate Editor for the Journal of Mathematical Economics 2019 Associate Editor for the Journal of Economic Theory 2019-current

Officer Positions: President, Finance Theory Group

Robert Parrino

Dr. Robert Parrino

Editorial: Associate Editor, Journal of Corporate Finance, 2001-18 Associate Editor, Journal of Financial Research, 2006-11

Officer Positions: President Elect, Financial Management Association International, effective October 2020 Immediate Past Vice President-Program, Financial Management Association International, 2019-20 Vice President-Program, Financial Management Association International, 2018-19 Vice President-Program Elect, Financial Management Association International, 2017-18

Job Market Candidates

Yingfan Linda Du

Mahyar Sefidgaran

Recent Graduate Placements

Alex Priest - 2023 - University of Rochester

Iman Dolatabadi - 2022 - Cornerstone Research

Tim Park - 2022 - Analysis Group

Jonathan Serrano - 2022 - Brex

David Xiaoyu Xu - 2022 - Southern Methodist University

Lee Seltzer - 2021 - The New York Fed

Jangwoo Lee - 2021 - Chinese University of Hong Kong

Gregory Weitzner - 2020 - McGill University

Xuewei (Erica) Jiang - 2020 - University of Southern California

Garrett Schaller - 2020 - Colorado State University

Shuo Liu - 2019 - City University of Hong Kong

Amin Shams Moorkani - 2019 - Ohio State University

Avishai Schiff - 2019 - Cornerstone Research

Jacelly Cespedes - 2018 - University of Minnesota

Qifei Zhu - 2018 - Nanyang Technological University

Zach Liu - 2017 - University of Houston

Adam Winegar - 2017 - Norwegian Business School

Current PhD Students

Vladimir Belykh

Tommy Brown

Lydia Zijin Fu

John Garrett

Haojing Han

Jaeyong Lee

Seung Chul (Eric) Lee

Prateek Mahajan

Changyong Song

Steven Urry

Xinran Zhang

Yiyuan Zhang

William T. Zheng

Are you ready to change the world.

The Texas McCombs Doctoral Program is seeking individuals who are interested in transforming the global marketplace. Are you one of these future thought leaders?

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Courses in Economics

To access syllabi and instructor CV's please visit:  https://utdirect.utexas.edu/apps/student/coursedocs/nlogon/

Prospective Students

The Department of Economics at UT-Austin is one of the largest majors in the College of Liberal Arts. It is home to over 2,300 students and over 40 faculty members. Undergraduate students take classes in micro and macro economics, statistics, econometrics, and theory, as well as electives in a range of topics, from banking and finance, to global development, to public policy.

Learn more about what an Economics major has to offer!

Eligibility Requirements for Incoming Students

This program has opened up so many opportunities. I’m really grateful to be a part of it! — Rashad Dixon, Class of 2022

Graduates have had great success in finding opportunities for further study, research, or work after completion of the MA program.

PhD Placements

Since our program’s beginning in 2013-2014, approximately 150 alumni have entered PhD programs.  Placements in top Economics programs include

• UC-Berkeley, Columbia, NYU, UCLA, Minnesota, Cornell, Duke, Boston University, UC-Davis, Michigan State, Ohio State, Virginia, and many others
• Eighteen have continued on into our own PhD program at UT-Austin (with others offered admission but selecting higher-ranked programs)

Students have also found success placing into PhD programs in related disciplines including:

• Harvard University (Health Policy, Public Health, Political Economy and Government)
• MIT (Finance)
• The Wharton School of the University of Pennsylvania (Health Care Management and Economics)
• Stanford University (Accounting)
• The Harris School of the University of Chicago (Public Policy)
• UC-Berkeley (Accounting, Agricultural & Resource Economics)
• UCLA (Marketing)
• Vanderbilt University (Law and Economics)

For a full listing of PhD placements by cohort, please see here .

Careers in the Private, Public, and Non-Profit Sectors

Our alumni have also been employed in a range of positions and industries, so there’s opportunity to find the best fit for your skills, abilities, and passions. Typical outcomes include work in the following areas:

Economics/Management Consulting and Economics Litigation

• McKinsey, Ernst & Young, Accenture, Guidehouse, Cornerstone, NERA, Demand Side Analytics, Native, EmployStats, Welch Consulting, Deloitte, KPMG, PricewaterhouseCoopers

Policy and Government

• US Government: Bureau of Labor Statistics, Federal Reserve Board of Governors, U.S. Department of Housing and Urban Development, U.S. Department of Transportation (Volpe Center), U.S. Department of Veterans Affairs
• Public Policy Institutes: Center for Public Policy Priorities (now, “EveryTexan”), Institute for Health Metrics and Evaluation @ University of Washington, Public Policy Research Institute @ Texas A&M

Tech Industry, Data Analytics, and Pricing

• Facebook, Uber, Amazon, Google, Box, QCue, American Airlines, Keller-Williams Realty, Realtor.com, Airbnb

Banking and Finance

• Bank of America, Citadel, GM Financial, WisdomTree Asset Management, Lenox Park Solutions, the Federal Reserve Bank System (Boston, Chicago, Dallas, Kansas City, Richmond)

For a list of all placements, see here .

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Bachelor of science in economics, prescribed work, major requirements.

The Bachelor of Science in Economics is an alternative to the Bachelor of Arts, designed to include a more extensive natural science curriculum that better prepares students for employment in technical and research jobs, and for graduate study in economics and related disciplines.  Students interested in areas of economics that heavily utilize mathematics, statistics, data science, and computation have the opportunity to develop breadth and depth in fields that complement their areas of interest within economics.  To accomplish this goal, the curriculum for the Bachelor of Science in Economics incorporates substantial emphasis on mathematics, statistics, and computer science courses.

A student may not earn both the Bachelor of Arts with a major in Economics and the Bachelor of Science in Economics.

A total of 120 semester hours is required.  Thirty-nine hours must be in upper-division courses.  At least 60 hours, including 24 hours of upper-division coursework, must be completed in residence at the University.  Provided these residence rules are met, credit may be earned by examination, by extension, by correspondence (up to 30 percent of the hours required for the degree), or, with the approval of the dean, by work transferred from another institution.  Up to 16 semester hours of classroom and/or correspondence coursework may be taken on a pass/fail basis; coursework taken on a pass/fail basis may count toward electives.

Students in this degree program may pursue any of the honors programs available to Bachelor of Arts, Plan I, students.  These programs are described in the section Liberal Arts Honors Programs, Plan I. All students must complete the University’s Core Curriculum.  All students also must complete the following Skills and Experience flags required by the College of Liberal Arts:

• Writing: Two flagged courses beyond Rhetoric and Writing 306 or its equivalent.  One must be upper-division.
• Quantitative Reasoning: one flagged course
• Global Cultures: one flagged course
• Cultural Diversity in the United States: one flagged course
• Ethics: one flagged course
• Independent Inquiry: one flagged course

Courses that may be used to fulfill core curriculum and flag requirements are identified in the Course Schedule.  Courses that fulfill core curriculum and flag requirements may be used simultaneously to fulfill other requirements, unless otherwise specified.  Students may not earn the cultural diversity and global cultures flags from the same course.  Generally, flag requirements must be satisfied with in-residence courses.  See an Economics advisor for details.  A list of approved courses satisfying the University core curriculum and Liberal Arts requirements is available on the College of Liberal Arts web site. The specific requirements for the Bachelor of Science in Economics consist of prescribed coursework, coursework in the major, and electives.  Only in the following cases may a single course be counted toward more than one requirement:

• A course that fulfills a core curriculum requirement may also be counted toward any specific requirement of the Bachelor of Science in Economics unless otherwise stated.
• A course that fulfills another requirement may also be used to fulfill a flag requirement.
• Up to three hours of coursework counted toward prescribed work or toward the core curriculum may also be counted toward a minor or certificate.  Completion of a transcript-recognized minor or certificate is not a requirement of the Bachelor of Science in Economics, but may be earned.

The student must fulfill the University's General Requirements for graduation and the requirements given in the sections Special Requirements of the College of Liberal Arts and Applicability of Certain Courses.  University requirements for graduation include a grade point average of at least 2.00 in all courses taken at the University (including credit by examination, correspondence, and extension) for which a grade or symbol other than Q, W, X, or CR is recorded.  The student must also earn a grade point average of at least 2.00 in courses taken at the University and counted toward major requirements. More information about grades and the grade point average is given in the General Information Catalog.

• Humanities and writing:  English 316L , 316M , 316N , or 316P .  Two courses beyond Rhetoric and Writing 306 that carry a writing flag.  One of these courses must be upper-division.  Courses that carry a writing flag are identified in the Course Schedule.  Courses that carry a writing flag may be used simultaneously to fulfill the core curriculum and the major.
• Second-semester-level proficiency, or the equivalent, in a foreign language.
• First-semester-level proficiency, or the equivalent, in a foreign language and a three- hour course in the culture of the same language area.
• Two three-hour foreign culture courses chosen from the same category. Courses taken to attain the required level of proficiency in a foreign language are not electives and may not be taken on a pass/fail basis.
• Social science:  Three semester credit hours in a social science field, in addition to the course taken to satisfy the Social and Behavioral Science requirement of the core curriculum.  This course may count toward the major.
• Cultural expression, human experience, and thought:  Three semester hours of approved coursework.  This course must be in a field of study taught in the College of Liberal Arts.  A course counted toward any requirement of the core curriculum may not also be counted toward this requirement.  A course counted toward the foreign language and culture requirement may not also be counted toward this requirement.  A list of approved courses is available on the College of Liberal Arts web site.
• One of the following combinations of courses is required, with a grade of at least a C- in each course:  Mathematics 408K and 408L ,  Mathematics 408C and 408D ,  Mathematics 408C and 408L ,  Mathematics 408Q and 408L ,  Mathematics 408N and 408S ,  Mathematics 408K and 408S ,  Mathematics 408C and 408S ,  Mathematics 408Q and 408S , or  Mathematics 408N and 408L .   Mathematics 408K (or other accepted first semester of calculus) satisfies the University core and the Liberal Arts mathematics requirement.   Mathematics 403K and 403L (and transfer equivalents) may not be substituted for required mathematics courses.
• Economics 329 or an approved substitute.  See the Economics advisors for a list of approved substitutes.   This course counts toward the major.
• Either five or six of the following, totaling 16 to 21 hours: Computer Science 303E and 313E , or 312 ; Computer Science 323E or Statistics and Data Sciences 335 or Mathematics 348 ; Computer Science 327E ; Electrical and Computer Engineering 422C ; Mathematics 340L or 341 ; Mathematics 368K ; Mathematics 427L ; Mathematics 427J or 427K ; Mathematics 372K or 374M ; Mathematics 362K ; Mathematics 378P ; Mathematics 362M or Electrical and Computer Engineering 351K ; Mathematics 361K or 365C ; Mathematics 365D ; Mathematics 358K or 378K ; Mathematics 378N ; Statistics and Data Sciences 323 ; Statistics and Data Sciences 353 ; Statistics and Data Sciences 374E ; Statistics and Data Sciences 322E ; Economics 342L ; courses on a substitute list (see the Economics Advisors). See the Economics Advisors for information about clusters of complementary courses within this list. Courses satisfying 5c of prescribed work may be used to satisfy university core requirements, but they may not count toward major requirements.

At least 32 semester hours of Economics are required, consisting of Economics 304K , 304L , 420S , 320L , 329 , 341K or 441K , and 101S , and at least 12 additional hours of upper-division coursework.  At least 9 of the additional hours of upper-division coursework must be in courses for which a grade of at least C- in Economics 420K or Economics 420S is a prerequisite, and at least 6 hours must be chosen from Economics 342L , 350L , 354K , 336M , or from a list of advanced Economics courses can be obtained from the Economics advisors.   Economics 420S , 320L , 329 , and 341K or 441K must be completed in residence.  A student must take  Economics 420S at least two semesters prior to completion of the degree.  A student in the Bachelor of Science in Economics program must earn a grade of at least C- in each course counted toward fulfillment of the major requirements, except  Economics 329 , in which a grade of at least C is required.   Economics 329 with a grade of at least C is a prerequisite for  Economics 420S .  A minimum grade point average of at least 2.00 in all courses taken at the University and counted toward the major is required.  A course satisfying the major requirements may not also satisfy the requirement for prescribed work in Mathematics, statistics, computer science, and advanced applications (5c above).  A course satisfying the major requirements may satisfy university core and Liberal Arts requirements, including requirements for flagged courses.  No student may register for more than 11 semester hours of economics in any one semester without approval of an undergraduate advisor in the Department of Economics.

In addition to the core curriculum, prescribed work, minor requirements, and major requirements, the student must complete enough elective coursework to provide the 120 semester hours required for the degree.  These 120 hours may include no more than 12 hours of conference courses and internship courses combined as described in Conference Courses and Internship Courses; 12 hours of Bible courses; nine hours of designated coursework in air force science, military science, or naval science, except for students enrolled in the Military Leadership minor; 16 hours completed on a pass/fail basis; 39 hours in any one field of study in the College of Liberal Arts or the College of Natural Sciences (including Economics); and 36 hours in any other single college or school of the University.  Mathematics courses at the level of college algebra may not count toward elective hours.

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UT Electronic Theses and Dissertations

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Department of Agricultural and Applied Economics

• Degree Programs

6.0. Doctor of Philosophy Degree Program

The doctoral program in Agricultural and Applied Economics is designed to develop a broad based competence in economic theory and in techniques of quantitative analysis. Dissertation research of students in our department usually addresses applied problems using contemporary economic theory and analytical methods. Students completing our program have demonstrated a high degree of success in academics, business, and government.

Two options are offered for the Doctor of Philosophy in the Agricultural and Applied Economics program. The first option does not require a minor. The second option includes a minor in Family Financial Planning—a joint Ph.D. program between the Department of Agricultural and Applied Economics and the College of Human Sciences. Completion of the Doctoral program in Agricultural and Applied Economics with a minor in Family Financial Planning qualifies graduates to take an exam administered by the Certified Financial Planning Board of Standards to become Certified Financial Planners.

6.1. Prerequisites

Most students will have completed the requirements for an M.S. degree or its equivalent before admission to the doctoral program. If the Master's degree does not meet the prerequisite requirements for entering our Master of Science program (see Section 5.1) then those requirements must be met in order to enter the Ph.D. program. Some exceptional students will be offered the opportunity to pursue a Ph.D. directly from a Bachelor's program. In this case, see the Graduate Coordinator for course and program requirements.

Background in algebra, partial and total differentiation, integration and basic matrix or linear algebra operations are very useful to perform well in coursework and research work.

6.2. Credit Hour Requirements

The doctoral program requires a minimum of 60 credit hours of course work beyond the baccalaureate degree and at least 12 credit hours of dissertation research (AAEC 8000).

6.3. Transfer of Credit

Transfer of graduate credit from other academic institutions may be allowed. The request for transfer must be initiated by the student and supported by the student's committee chair. Transfer decisions are made by the department Graduate Coordinator and must be approved by the Graduate School . Information required in support of transfer requests includes academic transcripts and course catalogue descriptions of each course proposed for transfer. Course syllabi may also be requested to support transfer decisions.

6.4. Substitution for Core Courses

Substitutions for core courses are allowed only under unusual circumstances. Requests for substitutions for core courses must be initiated by the student and his or her committee chair, to the department Graduate Coordinator and must be approved by the Graduate School . Final decisions on substitutions for core courses taught outside our department are made by the department Graduate Coordinator . Decisions on core courses taught in the department are made by the current instructor of the core course being replaced.

6.5. Ph.D. Comprehensive Examination

The purpose of the Ph.D. comprehensive examination is to test the student's ability to integrate knowledge from various subject matter areas and apply appropriate concepts and tools to issues and problems relevant to the discipline. The comprehensive exam is administered by a departmental committee twice each year (usually in May and August) and is normally taken at the end of the first full year of coursework. The exam has two parts which are taken separately. Part 1 of the exam focuses econometric methods and Part 2 covers microeconomic theory. Students have two opportunities to pass both parts of the exam. If both parts of the exam are passed on the first attempt then the student has successfully completed this degree requirement. If one or both parts of the exam are failed on the first attempt (usually in May), the student must retake the failed part(s) at the next offering (in the following August). A second failure of either part of the comprehensive exam will result in dismissal from the student's Ph.D. program.

6.6. Qualifying Examination and Admission to Candidacy

Graduate school rules require that all doctoral students successfully complete a Qualifying Examination for admission to candidacy for the doctor's degree. In the Department of Agricultural and Applied Economics the Dissertation Proposal Defense serves as the Qualifying Exam. Students are allowed two attempts to satisfactorily complete this examination. Failure to satisfactorily complete the examination on a second attempt will result in dismissal from the Ph.D. program. Further information on the Dissertation Proposal and Proposal Defense is provided in Section 9.0 of this Handbook.

6.7. Final Examination

All doctoral candidates are required to pass a public final oral examination which is usually over the general field of the dissertation. Candidates should consult the Graduate School for details regarding scheduling of the final examination. After the final examination, the professor conducting comprehensive exams will send a written notification of the results to the Graduate Secretary for the student's graduate file.

Doctoral candidates, with their major advisor, are required to find their own Dean's Representative for the Graduate School for their defense, preferably someone outside of the department.

Public announcement of exams will be done through the department Graduate Secretary. Exams must be announced at least four weeks prior to the exam date, without exception.

6.9. Degree Program Course Requirements

Listed below are the course requirements for the Ph.D. program options. Courses listed specifically by number are core courses. Note that the option II course requirements have been revised in consultation with the Department of Personal Financial Planning.

Ph.D in Agricultural and Applied Economics - No Minor Required (option1) 1

Course number / course title / credit hours.

• AAEC 5303 / Advanced Production Economics / 3
• AAEC 5307 / Applied Econometrics I / 3
• AAEC 6316 / Advanced International Trade and Policy / 3
• AAEC 5321 / Research Methodology in Economics/ 3
• AAEC 6302 / Food, Ag., and Nat. Resource Policy Analysis / 3
• AAEC 6305 / Economic Optimization / 3
• AAEC 6308 / Advanced Natural Resource Economics / 3
• AAEC 6310 / Demand and Price Analysis / 3
• AAEC 6311 / Applied Econometrics II / 3
• AAEC 6301 / Microeconomic Theory II / 3
• AAEC 6315 / Applied Microeconomics I / 3
• ECO 5311 / Macroeconomic Theory and Policy / 3
• Committee Approved Field Courses / / 24
• AAEC 8000 / Doctor's Dissertation / 12

Total Credit Hours 72

Ph.D. in Agricultural and Applied Economics - Minor in Family Financial Planning (option 2) 1,2

• AAEC 8000 / Doctor's Dissertation / 21
• PFP 5371 / Fundamentals of Personal Financial Planning / 3
• PFP 5372 / Asset Management II / 3
• PFP 5373 / Personal Financial Planning Cpstn. / 3
• PFP 5394 / Retirement Planning / 3
• PFP 5497 / Risk Management and Insurance Planning / 4
• PFP 5398 / Estate Planning / 3
• PFP 5362 / Asset Management I / 3
• PFP 5377 / Client Communication and Counseling / 3
• ACCT 5311 / Individual Study in Accounting / 3

total credit hours 85

1 Numbered courses are core courses. 2 Draft revisions pending review and approval of AAEC faculty.

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UChicago announces 2024 winners of Quantrell and PhD Teaching Awards

The transformative education offered at the University of Chicago begins in the classroom, with the teachers who inspire, engage and inform their students. 

UChicago annually recognizes faculty for their incredible teaching and mentoring of undergraduate and graduate students through the  Llewellyn John and Harriet Manchester Quantrell Awards , believed to be the nation’s oldest prize for undergraduate teaching; and the  Faculty Awards for Excellence in PhD Teaching and Mentoring , which honor faculty for their work with graduate students.

Learn more about this year’s recipients below:

• Quantrell Awards: Fred Chong , Anton Ford , Michele Friedner , Nicholas Hatsopoulos and Chris Kennedy
• PhD Teaching and Mentoring Awards: Marcus Clark , Mikhail Golosov , Sidney Nagel and Miwa Yasui

Llewellyn John and Harriet Manchester Quantrell Awards

Fred chong, the seymour goodman professor in the department of computer science.

Fred Chong’s love of computer science started at an early age, when he immersed himself in the “power of creation” possible with coding. 

As an undergraduate student at MIT, where he completed his graduate education, he was captivated by computer architecture, recognizing how the intricate design of the underlying machinery—composed of wires and transistors—enabled the execution of digital logic essential for powering his creations.

In a graduate course on silicon chip design, he gained insight into the construction and spatial arrangement of these components, understanding their impact on performance, cost, and energy consumption.

“It turns out that this spatial view of technology gives the core intuition of why even today's machine designs have a certain speed, cost, and energy consumption – essentially, the smaller the better,” he said. 

He now teaches Quantum Computer Systems and Computer Architecture, and has taught Honors Introduction to Computer Science. The University of Chicago marks Chong’s third institution as an instructor, and while he has cherished each experience thus far, he said the learning environment at UChicago is unique.

“The truly exceptional and curious students, coupled with small class sizes, allow me to go deeper into very advanced topics,” Chong said. “Perhaps my favorite part comes from student questions. After 28 years of teaching, I can still get questions that surprise me and make me rethink some of the fundamentals of my field.”

Chong’s courses and research are centrally about understanding the trends in technology and shaping the future of computing. On the last day of class, he typically gives a lecture on some of these trends, and some of the more visionary ideas emerging in the future. 

“For the last 10 years or so, this last lecture has focused a bit on quantum computing, which could potentially solve problems that are unsolvable by classical computers,” he said. “If I were to distill this down to a message, it would be to "think outside of the box and be open to what is currently impossible.”

Anton Ford, Associate Professor in the Department of Philosophy

When Anton Ford was in high school, he found a steamer trunk in the basement of his house that contained his parents’ books from college. He spread them on the floor and took the most appealing for himself. 

As he recalls, the trunk had a wide variety of books: novels, poetry, history and sociology books, political texts and philosophy books. He said he remembers reading some Platonic dialogues, and developing an interest in Emerson and Nieztsche. 

“My tastes have matured,” he said. “But that was my first encounter with philosophy, on the floor of the basement of my childhood home. The trunk itself came to have a sentimental value for me. I brought it with me to college, then to graduate school, and then to my first job, here, at the University of Chicago.”  

Ford joined the faculty at UChicago in 2007, and is now an associate professor in philosophy with areas of special interest in Anscombe, Aristotle and Marx. In his classroom, Ford's approach aligns closely with the UChicago ethos of teaching how to think, not what to think. 

On the last day of class, he said he hopes his students will leave not so much with a message as with a set of intellectual tools for thinking about the world they will be stepping into. 

“The philosophers whose work I tend to teach are systematic thinkers,” he said. “One thing about a system of thought is that it can help one to see the connection between things. Another is that it provides one with intellectual orientation in an infinite variety of new circumstances.”

Through his teaching, Ford aims to empower his students to navigate a transitional phase in their lives with clarity and purpose. 

“College is a pivotal moment in life, a point between academic and professional paths,” he said. “Depending on who one happens to meet, what interests one develops, what one encounters in class, what is happening in the world—and much else—one’s future trajectory could change very radically. Not every period of life is like that. Nothing in particular follows from the fact that this is a pivotal moment. But the fact is worth bearing in mind.”

Michele Friedner, Professor in the Department of Comparative Human Development

On her first day of class as an undergraduate in an introduction to Indian religions course, Michele Friedner’s professor insisted that her students look closely at the craters on the moon, and identify the shape of a rabbit — and that they had to keep looking for it until they found it. 

The professor used this tactic to encourage her students to try to see things differently from how they appear at surface level, and it resonated with Friedner. 

“I loved looking for the rabbit and then finally finding it,” she said. “I never look at the moon the same way anymore. And this is what I want my students to do, too – to learn different ways of seeing and experiencing taken-for-granted objects, processes and practices.”

Now a professor of comparative human development in the College, Friedner said she is not afraid to emulate that same level of “playfulness” when interacting with her students.  

“Often, I ask a question that I have not fully formed and that I am still thinking through. I want them to be able to articulate things that are not fully formed while also being aware of the stakes of what we are reading and discussing,” she said.

Friedner teaches courses in disability anthropology and sensory anthropology, as well as classes in the Self, Culture and Society Core sequence. She also teaches a course in the “Big Problems”  Curriculum, elective capstone experiences designated for third- and fourth-year students, alongside Jennifer Iverson in the Department of Music, called “Disability and Design” The course involves working with scholars and activists at the forefront of its eponymous fields. 

For their final projects, students design a fully accessible policy, playground, restaurant, job interview guide, children’s book and more. Friedner says the course is “wonderful and invigorating” to teach.

“I love teaching disability studies-related courses at UChicago because the students are genuinely excited to consider questions and theories around disability and to grapple with complex embodiments,” she said. “They especially find it useful to reflect upon their own experiences at UChicago and beyond through the lens of disability theory.”

Nicholas Hatsopoulos, Professor in the Department of Organismal Biology and Anatomy

Nicholas Hatsopoulos teaches a course titled "Neuroscience of Consciousness," delving into a subject that has intrigued him since his undergraduate days, when he minored in philosophy. 

He has always been fascinated by questions surrounding free will, which propelled him into this field of study. Though consciousness is not his primary area of research as a neuroscience professor, Hatsopoulos said he finds immense joy in engaging with his students and the lively discussions that ensue during his lectures. 

“I love the interactions I have with the students and all the questions they ask during my lectures,” he said. “The students here are really smart and inquisitive. They genuinely want to learn and not just get a good grade."

Hatsopoulos fosters an environment of active participation in his classroom. He encourages interruptions and questions, believing that dialogue is essential for deep learning. If he doesn’t know the answer to a question, he is not afraid to say he doesn’t know but says he’ll try to get an answer by the next class.

He assigns students the task of critiquing two papers they read each week, promptly discussing some of the submissions in the following class. Throughout the course, debates on consciousness-related topics stimulate further exploration and critical thinking.

“I want them to interrupt me and ask questions,” he said. "The message I give them at the beginning of the course is telling them that we won't ultimately answer the question as to how consciousness arises from the brain, but hopefully they will learn about some of the experiments and theories and learn some neuroscience in the process.”

Chris Kennedy, Professor in the Department of Linguistics

Chris Kennedy, who has been teaching linguistics at UChicago for nearly 20 years, wasn’t planning to become a linguist. 

“I was living in Austin, Texas, playing bass in a punk band,” he remembers. “I had a horrible case of poison ivy one summer and was stuck inside. I asked my now wife/then girlfriend to grab me a book by Noam Chomsky from the Austin Public Library. She brought me a copy of ‘Syntactic Structures,’ and I was hooked.”

In the Department of Linguistics, Kennedy teaches undergraduate and graduate courses in semantics and pragmatics, and the occasional course in syntax. He also helped design and is the faculty director for the new cognitive science major, for which he teaches the two foundational courses alongside instructors in the Psychology Department. He also teaches in the Philosophical Perspectives humanities sequence.

Kennedy says he appreciates UChicago students’ passion for the “acquisition of knowledge,” which he incorporates into his own teaching approach.

“I like to approach my classes with the idea that I am learning the material alongside the students, approaching it from a position of discovery rather than presenting it from a position of authority,” said Kennedy. “Much of the time, this is literally true, because I've found that the best way for me to really understand new ideas, especially from areas outside my own expertise, is by working through them in a classroom full of University of Chicago students. And even when I teach a class on something I’m very familiar with, I like to start from some basic assumptions and then, together with the students, build up the theory from scratch.”

Kennedy threw himself into new material as an undergraduate student and said his curiosity has been a major influence in his career. He recalls coursework in religion and archeology, as well as his primary undergraduate major in Russian language and literature, as formative educational experiences even though they were quite different from the field he works in today.

“Whenever a student asks me what they should study, I say: ‘It doesn’t matter. What matters is that you find the best teachers, and do different things,’” he said. 

Faculty Awards for Excellence in PhD Teaching and Mentoring

Marcus clark, professor in the department of medicine.

Marcus Clark is fond of telling people that he loves his work. “My job is really an amalgam of hobbies, the things that I like to do. I just happen to get paid for them.”

As chief of the Section of Rheumatology in the Department of Medicine and director of the Medical Scientist Training Program (MSTP), an NIH-funded training program that pairs medical degrees with PhDs in the biological or physical sciences, he has his hands full. But rather than embracing the role of an administrator, he prefers a hands-on approach to mentoring the next generation of physician-scientists.

“I really get to know each incoming class, what they’re interested in and what their strengths are. I think that the personal touch elevates you from being just an administrator and shows them how to work like a scientist,” he said.

Clark individually mentors, advises and counsels each of the roughly 80 students in the MSTP, making a point to meet them where they are and challenging them to reach their potential how they define it—not according to a predetermined plan. He provides guidance, but not solutions—a “teach a man to fish” philosophy that makes students feel empowered in their career choices. He credits this ability to having been there before, building his own career researching immune system functions and treating patients with psoriatic arthritis and lupus.

“I think I have a good sense of where a student needs to be and how their personal journey can get them there,” he said. “I feel like I’ve done enough in my own career that I can give the students a little bit more space and think about them more. It helps me be like a proud dad in a way. I just want to see them do well.”

Mikhail Golosov, the Homer J. Livingston Professor in Economics and the College

As a graduate student, Mikhail Golosov remembers having tea with his advisor, economist Larry Jones, after a particularly brutal presentation. They talked for hours. As Golosov calmed down, he was able to spot the weaknesses in his research. 

“Now, it's probably one of my most famous papers,” Golosov said. “For me, that focus on well-being played a huge role in graduate school.”

Using his own mentors as a model, Golosov’s approach to advising is twofold—guiding students through difficult research questions as well as helping manage the anxieties that might crop up because of them.

“When you start, there is so much uncertainty,” Golosov said. “You don’t know much about research; you don’t know if you’re good at it.”

After taking Golosov’s public finance course, one student was inspired to pursue a related research topic using an unfamiliar methodology.

“Without Mikhail Golosov’s patience, guidance and intelligence, I could not have pursued this project,” the student wrote. “He carefully considers each and every question without prejudice, demystifies the process of research and expresses empathy on its exciting, but frightening uncertainties."

As director of Graduate Studies, Golosov meets with student representatives from each Ph.D. cohort to hear their concerns. If he has the power to make students’ experiences better, Golosov simply will—whether that’s arranging for an accommodation or mediating between faculty and students. 

“There are little things we can do that don’t require that much effort that could improve the life of graduate students a lot,” Golosov said. “Whenever I come across them, it gives me a lot of satisfaction.” 

“It is rare for a scholar of his stature to demonstrate such a deep commitment to each student's success,” wrote another student. “My growth as an economist and as a member of the academic community is largely attributable to Mike’s influence.”

Sidney Nagel, the Stein-Freiler Distinguished Service Professor of Physics and the College

In Sidney Nagel’s laboratory, graduate students are learning to be physicists—to ask a question about the world no one has yet been able to answer, and then design a way to answer it. It’s not easy, but it is rewarding.

“I want to make sure they understand that doing physics is hard, but that it’s also hard for me, even as long as I’ve been doing it,” Nagel said. “To fight through the ideas to get something crisp and clean at the end is a challenge every time. But we are working on these things together.”

The “joy of common striving,” as Nagel puts it, is the theme that runs through the lab. A former student wrote that Nagel, and other more experienced Ph.D. students in the laboratory, “readily dedicated hours to guide and help me…The sense of support and collaboration permeates the Nagel group completely, out of genuine kindness and alignment of curiosity.”

Among the communal lab activities is something that Nagel believes in deeply: the value of learning to articulate a scientific problem. “That is, can you frame a vision about why this problem is important, why it’s worth doing and where it can lead?” Nagel said.

As members of Nagel’s laboratory transform from students to scientists, each learns how to present this vision through intensive coaching and group feedback.

“When I started grad school, I had no experience in giving scientific presentations, had very limited public speaking skills as a non-native English speaker, and did not enjoy presenting my work to people,” wrote another former student. “He is single-handedly responsible for making me a decent public speaker who loves giving talks.”

Another former student agreed: “He taught me to see the beauty in science, and to share my joy at understanding it with the world.”

Miwa Yasui, Associate Professor in the Crown Family School of Social Work, Policy and Practice

Described by her students and colleagues as an “exceptional,” “creative,” and “devoted lifelong mentor,” Miwa Yasui is a passionate educator whose deep commitment to teaching and student development has made a profound impact at the Crown Family School.    

Recognizing that the academic life of a social scientist is never a solitary one, Yasui believes that learning is best cultivated in an environment that fosters collaboration and the sharing of ideas.

“Social sciences is something that you can never do on your own. It requires an entire team of great minds to come together. I’m very grateful for leading the team of students in my research lab from whom I have come to learn about their own interests and journeys, seeing especially how they would continue their intellectual trajectories,” she said.

Her pedagogy is also characterized by an empathetic listening that takes into account the diverse perspectives and lived experiences of her students, often reflected in their classroom discussions. 

It is no wonder that she is well-loved among students in her department for being compassionate and attentive to their scholarly and emotional needs. 

“Prof. Yasui has provided time and space to empathetically listen to my personal experience, inquire about my family and loved ones and mentor me on the importance of care. I cannot thank her enough for that,” a Crown Family School student said.

Having lived in different countries such as Japan, England, Singapore, and the United States, Yasui is deeply sensitive to the ways in which our human behavior, values, and beliefs are determined by cultural influences. Her research focuses on the intersection between race, culture, and immigration in the context of child development and family processes, and how they contribute to racial disparities in mental health.

Yasui’s conviction for her students is that they will not only become innovative leaders in social work but, more importantly, that their scholarship will also transform the lives of the vulnerable and marginalized.

As a former student gratefully expressed: “Notably, she believed in me.”

—With contributions by Andy Brown, Meredith Davis, Tori Lee, Louise Lerner and Matt Wood.

2024 TEACHING AWARDS

Meet the winners of the Swogger Awards, Booth Prizes and Undergraduate Student Prizes

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