phd student in economics

Advice for First-Year Ph.D. Students in Economics at Cornell

First of all: welcome to Cornell and congratulations on your acceptance into the Ph.D. program in Economics! You must wonder about what the program and life at Cornell will be like, both academically and socially. The main focus of this document is to provide some information, grad student to grad student, about the academic aspects of the Ph.D. program in Economics at Cornell, though we will also get into some other aspects of life at Cornell. From your peers in the Ph.D. program, we want you to know that we are happy to talk to you and give you advice based on our own experiences. The comments and advice have been gathered from a broad spectrum of students, with varying backgrounds and experiences. We hope that this will provide you with a number of perspectives and ideas on how to handle the first year and succeed to the best of your ability.

You Are Here for a Reason

The Cornell Ph.D. program in economics admits a wide variety of students, with various backgrounds and levels of academic preparation. By some system, the faculty sifts through literally hundreds of applications, to find a broad profile of students that best fit the research interests and teaching needs of the department. It should be no surprise that many of your classmates list labor, development, theory or econometrics as primary fields of interest – these are four of the areas in which Cornell Economics is strongest. The research done in each of these areas, as well as the other economics fields, requires fairly different skill sets, and therefore the students chosen for admission will vary in their preparation for the focus of the firstyear: learning quantitative tools, basic economic modeling frameworks, and mathematical problem solving. Some of your classmates may have seen some of the material before. Don't let this discourage you – with sufficient effort and perseverance, you are all capable of succeeding in the first year. In order for you to be admitted, someone took notice of your file and saw something they liked. Remember these facts in the many challenging and difficult days you will face in the coming year. The Department does not accept students unless it believes they are capable of successfully completing the program, and differences in preparation in September will seem smaller come June.

You are also hopefully here for another reason, namely because you have decided that this is what you want to do (this being quantitatively-oriented research). For that reason, you should make the best of the opportunities here. Work as hard as you can, but enjoy the process. Yes, it is tough at times, but tough things can be made more bearable when we really enjoy the stuff and believe it is important. For this reason also, take initiative for your course of studies.

Belief is key – know that you can do this, as much as you might be tempted to doubt yourself (we all do). If you make the decision early to take the material seriously and try to master it and internalize it, and not just memorize, the dividends will be great. This takes commitment, but know that what seems confusing and abstract early on will clear up later. For example, it is quite common for students to struggle through the first semester of microeconomics, only to come out saying things like, "it was hard, but now I can see how it all fits together." The material will seem easier once you've worked at it and grasped it, and this takes time and hard work! It will be tempting to doubt yourself, as you enter a new academic setting in which nearly all of the students are accustomed to being "top of the class," so don't let early struggles get you down, and don't let yourself believe that you're not smart enough.

The Schedule

Of course, you will all get a schedule for first-year that lists your courses. However, we thought you might want a better feel for the rhythm of the first year.

Math Camp in August gives you a nice, gentle introduction to the program. For those of you who find it easy, don't get overconfident, because you will be challenged in time. For those of you who struggle, take it as a signal of things you need to work on. Just because some of the material covered in Math Camp may be difficult or new to you, it doesn't mean that you can't handle the program – but it does mean that you may have to put in extra time over the next few months ensuring that you understand the mathematical tools that you will need to know (this is part of what ECON 6170 is about). Fall semester is as much about picking up tools and mathematical skills as it is about learning economics (which is more of the focus in spring semester).

While the first week or two of classes are usually quite gentle, you will quickly hit the first wave of exams. At Cornell, almost every first-year Econ Ph.D. class has two exams (aka. prelims, midterms, quizzes), plus a final exam. The Econ Ph.D. program coordinates things, so you have two waves in the fall semester of about an exam or two per week (one wave in late September/early October, and one around November). Be prepared, and don't underestimate the classes based on the first couple of weeks. In second semester the schedule changes a little, and the focus shifts in the final run-up to qualifying exams (aka. "Qs"), which occur in early June. There are two weeks of intense studying between finals in May and the Qs in June. There are re- takes of the qualifying exams that are given at the beginning of August.

As mentioned above, the first semester courses focus a lot on building up tools and problem-solving skills. Many would say that the most important course during this semester is Econ 6090: Microeconomics I, which lays much of the foundation for what you do in later classes. It teaches you the basic structure of graduate-level economics, and also how to do fundamental things like solve an optimization problem, do comparative statics, or think about economic uncertainty in a rigorous way. Your macroeconomics sequence (Econ 6130 in the fall and Econ 6140 in the spring) is basically an introduction to dynamic modeling and a presentation of some of the key static and dynamic models in the field. Your Mathematics for Economists class (Econ 6170) is mainly focused on mathematical problem solving, though the material it conveys is also very important in other classes and for all economists to know. Your Econometrics I class (Econ 6190) is mainly focused on conveying the essential things you "need to know" in probability and statistics, both for later work in econometrics, and also for other theory courses.

In second semester, the focus shifts a little, with more emphasis on materials that can be mapped into real economic modeling and analysis. The microeconomics course in general equilibrium theory (Econ 6100), builds off of Microeconomics I, and in the end provide you with a broad look at much of the foundational material in microeconomics that is used by researchers in every imaginable area of economics. Your Econometrics II course gives a broad (and very fast) overview of many of the important topics in econometric theory (i.e. regression analysis). You may be asked to come up with, work on and present (both orally and in written form) a small empirical project, to demonstrate that you are capable of finding, organizing and analyzing economic data.

Most students take all eight of these core courses (three in micro, two each in macro and econometrics, and one in mathematical economics) during the first year. The exceptions are usually students who pass out of the math course or the first econometrics course. All course planning advice should come from the faculty, and especially our graduate director, Prof. Levon Barseghyan. Please talk to Prof. Barseghyan and/or senior faculty in the relevant area if you want to discuss your course planning further, and they can be extremely helpful in general. Remember, the department wants you to succeed.

If you are taking all four courses in you first semester, you will have two lectures per day of one hour and fifteen minutes each from Monday through Thursday. Lectures are taught by one of the faculty. On top of this, you will have four sections on Friday, again one hour and fifteen minutes each, which are taught by TAs (usually upper-years Econ Ph.D. students). Fridays give you an opportunity to look at material again from a different (often more directly applied and exam-relevant) perspective. But the biggest drain on your time will be problem sets, which are assigned on roughly a weekly basis in each class. Once you start having four problem sets a week, you may occasionally need to sacrifice a lot to get through these. Do get through them though – give each problem set the attention it deserves because solving problem sets is the primary way to learn graduate-level material.

One other thing you might not expect is the number of students in your classes. Beyond your core group of twenty-or-so first-year economics Ph.D. students, you will have about as many other students from other departments or academic levels. The next biggest group will be students from the Applied Economics and Management (AEM) department, who are required to pass our microeconomics qualifying exam, and also pass a semester of macro. There will also be small bunches of students from other Ph.D. or masters programs – in Policy Analysis and Management, Business, Finance, certain areas of engineering, etc. There are also students who are re-taking some of the first-year classes for various reasons. And finally, you'll usually see a couple of ambitious undergrads taking the Ph.D.-level courses.

How to Study

You're here, right? So you must know something about how to study. Yet sometimes the techniques that got you here may not necessarily be the ones that will carry you through successfully. Remember, Ph.D. means Doctor of Philosophy – which carries the implication that the holders of such degrees will have acquired knowledge at a level deeper than simple short- term memorization. It means the ability not just to understand material, or even to respond to specific (familiar) questions, but to compare, contrast and criticize various theories and arguments, and to be able to contribute to that knowledge and convey one's insights to others. Acquiring such mastery, especially within the mathematical framework of mainstream economics, requires time, practice and hard work, and you will need to develop a system that works best for you in your first year. Here are some things that have worked well for others:

• Take problem sets (very) seriously. Perhaps the most important skill you need to develop in the first-year is the ability to understand and solve challenging economic problems (usually with mathematical content). Your ability to learn the skill of problem solving and proving mathematical results will help you succeed in your class exams, qualifying exams, and ultimately in your future research. Whenever you are faced with a problem (or something you don't understand in a lecture or in your reading), try to figure it out yourself. Then, try to look it up. Failing that, go to your peers (eg. your study group) or the TA. Then go back to it. If all else fails, see the professor.
• Learn how topics fit together and develop your intuition. Hopefully you will notice throughout the year that some approaches and concepts reappear many times through the eight courses in your first year. The sooner that you find these links the more successful you will be. The Microeconomics qualifying exam is known for introducing material that you haven't seen before – but it is more about applying concepts you have seen to new areas. If you are able to see this link, it will make your life easier through your first year, on qualifying exams, and looking at research projects.
• Form a study group. At Cornell there is no quota on how many students can pass the qualifying exams. This means that students are not in direct (only relative or indirect) competition with each other. This means that you can leverage thetremendous learning benefit of regularly studying with peers. It is difficult to overemphasize the benefit you can derive from being able to discuss problems, see how other people do things, and get hints and help with places where you are stuck. Try to find a good group of people that you can work well with, and plan a regular (eg. weekly, bi-weekly, etc.) meeting time. Some people insist that they learned more in graduate school from their study group and peers than from their lectures.
• Work on your own before meeting your study group. Your study group should be there to leverage the knowledge of your classmates – but not to replace working out problems on your own. There is tremendous value in struggling through material on your own before going to your study group for help. If you don't try problems on your own first, you will be unable to learn from your mistakes and the same mistakes are likely to reappear on your exams. As noted before, struggling through the material to the point of defolicating yourself before you actually understand it is fairly common.
• How much should you read? This is a personal thing. Just be aware that there are (quickly) diminishing returns to underlining and highlighting. Academic economists will tell you that it is best to read (eg. textbooks, articles, etc.) with a pencil in hand and some paper close by, and to try to jump ahead and solve the math yourself whenever possible and practical while you read. Such discipline will benefit you later on. In a similar vein, don't overload yourself with study materials. While some people find it helpful to supplement their primary textbooks with other texts or resources, getting different viewpoints will not replace deeply digesting the material in one book.
• See your TAs. TAs are some of the greatest resources your courses have to offer – students experienced in the courses, and with time available to help you through your difficulties. Try to talk to them regularly, even about things you think you understand, to reinforce your knowledge and understanding. You should read their problem set solutions to learn new ways to solve problems. On the other hand, do not overtax TAs – they are also not private tutors, and as a Ph.D. student you are expected to put in the necessary effort to figure things out yourself. So, don't be surprised if a TA occasionally seems surprised at something you don't understand or says that ‘this should be obvious from …'. If it isn't obvious to you ask for clarification or another text or notes where you could find a more detailed exposition. The main thing to remember here is, don't wait until it's too late to ask for help. Better to ask early than be sorry later. Don't suffer in silence! Also, do not be embarrassed if others in your class seem to be breezing through and you are struggling. If they are it is extremely likely because they have seen this exact material before, for example in a Master's program somewhere and not because they are smart and you are dumb.
• The style of learning in a Ph.D. program is different from undergrad. You will often need multiple encounters with the material to develop mastery. This may come through lecture, TA sections, reading, problem sets, discussion with peers and further examination of the concepts. But effort spent in mastering economic theory will yield tremendous benefits in your future research career no matter what area you specialize in.
• It is important to avoid the big pitfall of looking at others' solutions to old exams (Q or in- semester) before or while trying to solve them yourself. This typically leads to memorization and not understanding. A pitfall being that you can then very easily get stuck in a new problem (in your exam) that follows the same theme as the ones you have solved but has a different twist than the previous one. This also means that you need to be able to learn from your mistakes. You will fall down at some points, but stay positive and learn to analyze what went wrong and how to fix it.
• What difference do grades make? Certainly, you shouldn't take them as seriously as you have been trained to in the past. They are definitely a nice signal of your progress and understanding of the material, and your ability to take exams under pressure (which we must all do on the qualifying exam). However, do not take them too seriously. If you do well, do not get overconfident, because there is always more to learn. If you do not do as well as you would like, know that almost everybody in the program has struggled at certain points or in certain classes. Sometimes, a bad exam is just a fluke and nothing more, which can occur for various reasons. And in the end, grades are a noisy predictor of ultimate success in research.In any case, as long as you are really learning and internalizing the material, you will be fine on the qualifying exams, and having passed those, the first-year will be largely forgotten anyway (although hopefully the material won't…).
• Time management. Of course, this is key. You must find a system that works for you. If you've made it this far, you probably have. If not, try to get advice on this from other students.
• A very good suggestion for digesting material is to review your class notes within a few hours after the lectures. One way to do this is by going through in detail, trying to "fill in the blanks" and construct many simple and complex examples based on the material. You will find that the material you learn successively builds up, so it is good to build on a solid foundation from the start, even if things seem somewhat easy at first. It is amazing how easy it is to think that you have understood something, when you really didn't, so try to work with the material frequently.
• One technique for internalizing knowledge that works well for some students is to write up a "summary" of the material leading up to an exam (or keeping a running summary). The idea is to write up a briefer summary of the material in your own words, highlighting the most important points. This can be both a great way to go over material and force yourself to write and think, and also can provide great "crib sheets" for later review.
• Don't hide under the veil of "not realistic." Many first years complain that this and that model or theory is not real-world based, or they don't make any real-world sense. Good students look to the core, find the objectives of the models, and assess the model on how it addresses such objectives. Bear in mind, there ain't no "General Theory of the Real World." We can only provide snapshots of whatever phenomena we are interested in. If you don't want to believe the theories, fine. But you should know that a lot of these works have great motivations behind them, not only mathematical curiosity.
• A big determinant of your success will be the attitude you take to your studies – try to stay positive as much as possible. Try to see ways in which the material you are learning can be useful later. A wide and deep knowledge of economic theory will benefit you no matter what future research you do (including applied or empirical work) – it will provide you with tools and structures that allow you to communicate and analyze ideas more rigorously, effectively and professionally.

The "Q's"

There are three qualifying exams (or Qs, qualifying exams, quals, etc.), one in econometrics, one in microeconomics, and one in macroeconomics. They are usually given in the second week of June and again in early August. The exams are four hours long, and consist of graduate-level economic problem solving. They will be chosen roughly from the areas of study you have covered in your core micro and macro classes, though you will usually also see stuff you "haven't seen before."

If you want to make normal progress in the program, you need to pass them by the end of your first year, and this is your primary responsibility in the first year. However, most people pass them, and you should not let yourself be overwhelmed by the thought of them.

Here are some brief suggestions on things you can do to prepare throughout the year:

• Learn the material in your classes. This is the best thing you can do. Don't just study hard leading up to prelims and finals – master and internalize material as much as possible (mainly by independently solving problems), because it is hard to review a whole year's material in the two weeks between May finals and the Qs.
• You can ask the Graduate Field Assistant to share with you a Box folder containing the past 10 years of Q exams sometime later on in the fall. One technique is to use Q problems relevant to the exams in your classes as exam-prep materials. Since 10 years of Qs means about 120 micro problems and 80 macro problems (though not all relevant), it can be useful to start early, though don't panic and start too early. Another technique is to use your breaks as time for Q prep (eg. a couple weeks in January, spring break, etc.). Another is to set aside a little time each week in second semester to study for Qs.
• Don't worry about what other people are doing. How you chose to study for the Qs is a personal choice, and everybody has their own study habits that work for them. There is no right or wrong way to study (except, of course, not studying). It is important to decide what will work for you, even if it is different from what your classmates are doing.
• Don't get stressed over the numbers. You will hear various figures about pass rates in previous years' Q exams. Remember, these are meaningless. The exam is not graded on a curve, and the faculty grading the exam does not have a target pass rate. All you can do is study as well as possible throughout the entire academic year, and set yourself up to perform at your best on the exam.
• The last two weeks before June Qs are a good time to go back over your weaknesses and prep. Use them well. One successful strategy is to regularly (eg. daily) take full 4-hour practice Q exams, especially if you are not familiar with the experience and physical challenge of taking longer exams. One part of success in the Q is the ability to deal with the time pressure in the exam and pace yourself, yet solve problems relatively quickly and efficiently. You need to learn this skill, and it takes practice. Plus, doing practice exams gets you to solve more practice problems, and gives you something to go over with your study group.
• The Qs are ultimately about showing the faculty that you're ready to move on in the program and do research. This means, as discussed above, the ability to tackle, solve and analyze original problems (broadly understood). In many cases, the professors care as much about your ability to set up a problem, and "see" the solution, or apply economic intuition, as anything. Therefore, students who get into the Q and sit down and try to simply write whatever comes to mind, as quickly as possible, tend to be less successful.
• You are allowed to take food and water into the exam, and this can also help one stay fresh and energized.
• It's not the end of the world if you don't pass in June. It happens. Don't count on passing the June Qs – i.e. don't pack your summer with plans, because that only puts on extra pressure. Do whatever you can to take the pressure off so you can go in and do your best.
• Get advice from other students and faculty on what and how to study for the Qualifying exams throughout the year if you feel that will help. You will find people very forthcoming with advice (since everyone here has gone through the Q process at some time), but remember that everyone learns differently and you will find a schedule that you are comfortable with.

Don't worry too much about Qs right now. The upper-years graduate students in the department will probably provide you with more information and advice on Qs specifically, in the spring.

Life in the Department

Hopefully, you will enjoy life in the department, and find your place. You will find that the grad students and faculty at Cornell are generally a friendly, though socially diverse, group. Quite early on you will hear about the Graduate Student Association For Economics (GSAFE), which is essentially the "student government" inside the department. GSAFE is traditionally made up of second-year students, who take on social and academic responsibilities like organizing departmental parties and grad student gatherings, representing the department on graduate student committees in the university, and acting as a liaison between the grad students and the faculty in the department. Take advantage of the events and other things that GSAFE organizes. The "graduate student union" at Cornell is the Big Red Barn, which is conveniently located within a 1-minute walk from Uris Hall. There are various grad student-oriented events held there, and the Friday afternoon T.G.I.F. ("tell grads it's Friday") is particularly popular with Econ Ph.D. students. Oftentimes upper-year students won't get to know you unless you get involved or introduce yourselves. But they do enjoy the chance to talk, so make use of their presence.

Unlike some programs, economics has quite a structured and focused first-year. Most, if not all, of your first-year courses are explicitly mapped out, and there is a specific target to focus on – passing qualifying exams. For this reason, the interaction between grad students and professors is usually not as extensive in the first year as in other doctoral programs. Sure, you may interact with your professors in regards to the courses, but serious discussions about research and advisement usually happen after the first year. So don't be disappointed about this, but still take the chance to get to know who's doing work in areas you're interested in, and what field courses you might like to take in subsequent years.

If you are empirical, talk to empirical professors once in a while too. They'll provide comforting and great advice for people heading towards that direction (even what you should look to gain from first year classes). Empirical and applied people should also find the Johnson School of Business, AEM, ILR (Industrial and Labor Relations), and PAM (Policy Analysis and Management) comforting as places to meet faculty and students with similar interests, take future classes, and perhaps find a TA-ship.

Finally, one of the department's big gifts to its graduate students is an awesome seminar program. There are weekly presentations from star economists in Micro and Macro Theory, Econometrics, Development, Labor, Applied Micro, Public Economics, Policy Analysis and more. Seminars are scheduled throughout the week, usually at 4:00 pm, and (for the most part) classes are timed so as not to conflict with seminars. Attendance at a weekly seminar is only required as of third year, but you should not view them as a chore. In first year you will not generally have the time to go to a presentation regularly, but you are certainly welcome to attend them and we would encourage you to go to at least one or two presentations in each semester. Remember that there is life after the Qs and you will ultimately be judged on your ability to make the transition from student to researcher – getting a feel for the research done by top-name economists in your area of interest is an integral part of this process.

Being Successful Isn't Just About Studying

Do not take this point too lightly. While some of you may have Herculean visions of prolific studying exploits, in reality you do need to rest, as hard as that may seem at times. First of all, from the standpoint of a simple cost-benefit analysis, you are human, and therefore to perform at your peak you need to have reasonable amounts of sleep and rest. While it is true that you can push yourself for periods of time (and this is certainly necessary at certain times), you also need to listen to your body. Secondly, some of you may come here with families, significant others, etc., and they'll still want to hear from you and spend time with you. You may have a religious affiliation, and it can be nice to stay connected to that community during a trying year. And finally, rest time gives your brain time to subconsciously absorb and digest material. So if you find yourself studying 18 hours a day, 7 days a week, you probably need to think twice about your study habits and how efficiently you are using your time. Making new friends at Cornell is also important. However, while socializing is important, partying is not. Use your Cornell friends for human contact and social support, but make sure that your social life does not take energy away from studying.

Going through a Ph.D. program is not only an academic challenge – it is a mental, emotional and psychological challenge, too. It is perfectly normal if sometime in the next few months you find yourself questioning your abilities, your decision to come here, why in the world anyone would care about the stuff you're learning, or any other common feeling. Know this: you are not alone. Don't let disappointing grades, hard material, frustrating lecturers, or personal stresses get you down too much. Remember, the first year is important for your life as economist, but it is not everything. Seek help if you need it – your fellow grad students can be good sounding boards, and in a more difficult situation you can try to talk to someone at the Counseling Centre in Gannett Health Service. There is no question that this program is hard – it should be. Do what you need to do to be at your best.

Another good habit is to try to exercise regularly. Be realistic about this – some people come here with overly ambitious plans about athletic endeavors, and in many cases you will have to choose studying over the sports or activities you enjoy. But at the same time, try to find time a couple times every week to at least get out, have a walk, go for a jog, go dancing, or play a sport. Talk to other grad students about the activities available in and around Ithaca and Cornell.

To Research Or Not to Research

Some of you will come here with a research background and will be eager to continue that work. Others might have ideas they want to start exploring early on. Ultimately, research is what we are here for – not exams, problems sets, or listening to lectures. But the research frontier in economics has high technical demands, and to reach it we need preparation and study. That is what the first-year is mostly about.

Some professors and grad students will tell you that you should be thinking about research ideas and working on things in your first year. They will say that you should try to attend seminars (see above). These are all good things to try to do, as long as you are fulfilling your primary responsibility in the first-year – preparing to pass the qualifying exam. Some would say that attending seminars and doing your own research provides extra motivation and energy to master the tools thrown at you in the classes, especially if you find places where they can overlap. Others might say that it can be a distraction, and the attitude needed for research is different than that needed to master the large body of material thrown at you in first-year. This is ultimately something you must decide on your own, but it is good to seek multiple opinions and experiment. Usually, one's first attempts at research are rather weak and unsuccessful, and so it can be nice to get such attempts out of the way early, for more successful progress in second and subsequent years. Or as some faculty and students put it, ‘the first paper is crap anyway'. Additionally, being able to get something out of seminars is something that takes time (they generally involve presentations of technical, frontier-level research, and so if you only understand 10% of what is said in your first few seminars, that is quite normal), and so again, starting early can get you ahead of the game later on.

Taking Advantage of Cornell Resources

One of the great things about being at a world-class research university is the great set of resources at your disposal, in terms of people, technology, and other support. Right when you arrive on campus, you will receive information about things like library tours and computing classes. When it comes time to write your paper for Econometrics II, you can look into taking econometric software classes in programs like Stata and SAS through CISER (Cornell Institute for Social and Economic Research), and sign up for a CISER computing account that allows you online access to most of the leading econometric software packages from almost anywhere in the world.

One thing that some graduate students do is apply to use a "carrel" at Olin library. Applications for new grad students are in late August, and a carrel is basically a desk that you get first priority over. You can see them if you go to the stacks in Olin library and walk to the sides of the library near the windows. Depending on how you like to study, this can be a convenient place to do most of your work, or at least have a place to stop by and get work done during the day. Unless you are a TA or RA in your first year, you will not have a proper office assignment in the Economics Department, so a carrel can be a useful alternative. The application is free but competitive, so look up the library web page early to find out about the application process.

In future years (or for some students, in first year), you might take advantage of courses offered in other departments like Mathematics, Statistics or Operations Research, or even Regional Planning, Sociology, Psychology, Government, Computing, Information Science or any other, within Cornell's motto of "any person, any study." You might attend lectures and talks in these other departments.

We hope that this document has provided you with a useful head start on the first year. We all know that it is challenging, but you need to know that it is worth it. To achieve excellence in any field, one needs to master the fundamentals, and that is what the first year is all about. Yes, it requires discipline and diligence, but keep the end-goal in mind – the opportunity to pursue the interests and areas that first fascinated you about economics, but now with a whole new set of tools and language with which to do so.

Ph.D. in Economics

The Ph.D. program in the Department of Economics at Columbia University trains students to do cutting edge research in economics.  Students in our program do research in all major areas of economics including microeconomics, macroeconomics, econometrics, international economics, labor economics, public finance, industrial organization, development economics, and urban economics.  Our department provides strong training both in theoretical economics and in applied and empirical economics.  The Ph.D. program is primarily designed for students that are interested in pursuing a career in teaching and research within academia but is also useful for student interested in certain positions within governments, research organizations, or private businesses.

The first two years of our Ph.D. program is largely devoted to rigorous coursework. After the second year, however, students devote most of their time to their own research under the supervision of faculty advisors. Students in our program generally complete their Ph.D. in 5 or 6 years.

Admission to the Ph.D. program is highly selective.  We receive approximately 1,000 applications each year for an incoming class of roughly 25 students.  We place a high value on attracting the very best minds, and recruiting members of groups who will both enhance the diversity of research in the field and contribute to the diversity of the university’s academic and professional community.

The Ph.D. program has a long and illustrious history.  Alumni of the program include some of the most distinguished economists of the last century – including Nobel Prize winners Kenneth J. Arrow, Milton Friedman, Simon Smith Kuznets, and William S. Vickrey.

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Ph.D. in Economics

The Ph.D. program at Berkeley is designed for students interested in pursuing advanced study and conducting original research in Economics. The Ph.D. degree is awarded in recognition of the recipient's qualifications as a general economist and of the ability to make scholarly contributions in fields of specialization.

In advancing to the Ph.D. degree, students pass through two major stages:

• Preparation for candidacy typically takes two to three years. During the first two semesters, students take courses to achieve competence in econometric methods, methods of economic history and fundamentals of microeconomic and macroeconomic theory. During the next two years, students prepare for examination in two fields of specialization of their choosing, prepare a dissertation prospectus, and take an oral examination. When these steps are completed, students are advanced to candidacy.
• Completion of a dissertation after advancing to candidacy typically takes one to two years. The dissertation must be based on original research and represent a significant contribution to the body of Economic knowledge.

The entire process takes approximately five to six years, although some students are able to complete the program in less time. Below is an overview of the program requirements by year and other pertinent information.

The UC Berkeley College of Letters & Science   provides students helpful resources, links, and tools for successfully completing the Ph.D. in Economics.

ECONOMICS GRADUATE STUDENT SERVICES

The economics student services mission is to advise our students holistically by providing a high standard of service in a supportive and collaborative environment.  professional and peer advisors work as a team to provide accurate information in a timely manner.  we partner with faculty to assist students in engaging with the campus and the global economic community.  we value fairness, diversity, and the important roles our students, faculty, and staff in the department of economics play at the university of california, berkeley..

If you or someone you know is experiencing financial, food, housing or other basic needs challenges - you can find support and services at:  http://tinyurl.com/UCB-BNC-C19 .

Meet the members of the Economics Graduate Student Services advising team!

Graduate Office Address:

Ph.D. Program

Make an impact: The intellectual rigor from researchers associated with Yale Economics drives innovations in domestic and international policy.

• Requirements

Yale's Department of Economics offers a challenging and rigorous academic program, a distinguished and accessible faculty, and a friendly, supportive environment for study.

Our core teaching faculty of 66 is supported by a diverse group of visiting professors and graduate student teaching assistants, making it one of the largest economics departments in the United States with one of the highest teacher/student ratios for the 130 Ph.D. students in residence.

The Department of Economics also has close ties with professional schools in related fields, such as the Yale School of Management, the Yale School of the Environment, and the Yale School of Public Health, where many of its secondary faculty members teach. It also works with affiliated centers, including the Cowles Foundation for Research in Economics, the Economic Growth Center, and the newly created Tobin Center for Economic Policy . 

• The Program
• Prospective Students
• Milestones and Timeline
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Our Program

Yale's economics faculty embraces a broad range of research and teaching interests. Courses and seminars span a wide spectrum of economics, from dynamic structural models to field experiments. Our students apply econometric and data analytic methods to a variety of subjects in macroeconomics, labor economics and finance. Our courses examine critical economic policy issues, including antitrust and environmental regulation. Our focus is global, spanning the United States and developed economies to the developing nations of Latin America, Asia and Africa. Whatever your interest, our faculty is ready to guide you through a wide offering of more than a hundred regular courses, seminars or workshops, combined with individually tailored reading and research courses to best prepare you for your Ph.D. research and dissertation.

Our faculty is eclectic in methodologies and views of economics. There is no Yale dogma or school. You will acquire a critical perspective on the full range of approaches to macroeconomics. You will be well trained in neoclassical theory and in the theory of public choice, externalities and market failures. You will master the skills of sophisticated modern econometrics and understand pitfalls in its applications. You will gain respect for the power of contemporary mathematical models and also for history and for the insights of the great economists of the past.  

Fields of Study

Important dates.

Dec. 21, Wed. Fall Term ends, Winter Recess begins.

Dec. 22 Thurs. Date of December degree award

Jan. 12, Thurs. Add/drop period opens, 8:30 am

Full calendar

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The doctoral program in Economics at Harvard University is one of the leading programs in the world. Supported by a diverse group of faculty who are top researchers in their fields and fueled by a vast array of resources, the PhD program is structured to train and nurture students to become leading economists in academia, government agencies, the technology industry, finance and banking, and global policy organizations.

Harvard University and the Department of Economics are regularly ranked amongst the top programs in the world, and the consistency of success among our graduates is inspiring. We have educated several foreign heads of state, Nobel Prize Winners, Clark Medal Winners, MacArthur Fellowship Recipients - many of whom have returned to Harvard to offer their expertise and brilliance in shaping and nurturing our students.  Learn more about where we place our  graduates  and explore our  Program  to find out if a PhD in Economics is a good fit for you. 

Program Requirements

As a PhD student in the Economics program, students will spend the first two years in the program engaged in rigorous coursework designed to develop a foundational understanding of economics. In the following years, students transition to research under the guidance of strong faculty mentorship and participate in field workshops. In the final year, students conduct independent research and complete a dissertation.

The department of Economics at Harvard University is committed to seeking out and mentoring scholars who wish to pursue a rigorous and rewarding career in economic research. Our graduates are trailblazers in their fields and contribute to a diverse alumni community in both the academic and non-academic sectors. We invite you to learn more and apply to the PhD program in Economics. 

Financial Support

Students have access to a variety of funding and financial support opportunities.

• Research Funding
• Teaching Fellowships and assistants
• Additional external and internal resources

Learn more about financial support

Upcoming Events

Econ 3010: alberto alesina graduate student workshop in political economy and culture, location: .

Matthias Weigand (Harvard), "Consequences of Party Bans" Emily Silcock (Harvard), "Stigma and Benefit Take-up: Evidence from English Tabloid Newspapers"

Seminar in Economic Theory

Harry Pei (Northwestern University) " Reputational Bargaining and Inefficient Technology Adoption " (with Maren Vairo)... Read more about Seminar in Economic Theory

Seminar in Econometrics

Arun Gautam Chandrasekhar (Stanford University) "Robustly Estimating Heterogeneity in Factorial Data Using Rashomon Partitions”  (with Tyler McCormick & Apara Venkat)... Read more about Seminar in Econometrics

View all Workshops

View all Seminars

Department of Economics

• Graduate Courses
• Program Requirements
• For Admitted Students
• Funding and Financial Aid
• For Current Students
• Recent Placements

The rigorous PhD economics program at Johns Hopkins is among the best in the nation. With its world-class faculty, individualized attention, and small classes, the doctoral program is the centerpiece of the Department of Economics. From financial analysis to applied research, students are well-prepared to be leaders in the field.

The department is dedicated to maintaining strong research and teaching cores in applied microeconomics, economic theory, macroeconomics, and econometrics. Faculty members are experts in their fields, and they are actively involved in thesis supervision and research seminars . The unique Hopkins difference is the direct interaction and one-on-one attention students receive from faculty. Such attention opens the door to myriad opportunities for students to conduct groundbreaking research, apply complex economic theories, and make educated financial analyses and predictions.

Student Life

Graduate students enjoy a diverse social life outside of the department’s rigorous curriculum and their individual research interests. Faculty and students – from both inside and outside the department – have ample opportunities to spend time together socializing and discussing their studies. 

In addition to frequent student-planned happy hours, social outings, and local events, the Department of Economics and the JHU Graduate Representative Organization host many functions throughout the year.

• At the beginning of the fall semester, the Department of Economics hosts a welcome dinner and party to encourage new students to meet their peers, older students, and faculty.
• The department throws an annual holiday party immediately following completion of the first term, as well as an end-of-year barbecue to celebrate the completion of the spring semester.
• JHU sponsored coffee “happy hours” offer graduate students opportunities to meet people from outside their department.
• Intramural sports are popular among graduate students at Hopkins, and the economics department often forms teams that compete against other departments.

Students and faculty members often know each other by name before taking classes together, and first-year students enjoy straightforward access to faculty members and their more experienced peers. This collegial atmosphere makes for an easy transition into graduate life and comfortable communication once research begins in earnest.

Economics across JHU Schools

Carey business school.

The Johns Hopkins Carey Business School is the graduate business school of Johns Hopkins University and offers full-time and part-time programs leading to the Master of Business Administration and Master of Science degrees.  The School has a number of distinguished economists who interact with the faculty and graduate students in the Department of Economics.

School of Advanced International Studies

The Paul H. Nitze School of Advanced International Studies is a graduate school of Johns Hopkins University based in Washington, D.C., United States, with campuses in Bologna, Italy, and Nanjing, China. It is consistently ranked one of the top graduate schools for international relations in the world.  The economists at the school interact with the faculty and graduate students in the Department of Economics.

Advanced Academic Programs Applied Economics

The Johns Hopkins Division of Advanced Academic Programs is a  division of the Krieger School of Arts and Sciences in Washington DC which offers high-level graduate-level education in Applied Economics, with a variety of Masters Degrees designed to build on the intellectual strength and educational requirements of professional adults.

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Business Economics

• Health Policy (Management)
• Organizational Behavior
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• Program Requirements

Curriculum & Coursework

Research dissertation, areas of specialization.

• Behavioral Economics
• Development
• Econometrics
• Economic Theory
• Economics of Organization
• Entrepreneurship
• Industrial Organization
• International Economics
• Labor Economics
• Macroeconomics

Fanele Mashwama

Sagar Saxena

“ HBS is the ideal environment because I get to think about the world like an economist, but I have the freedom and resources to draw on methods from other disciplines as I study market design and industrial organization. ”

Current Harvard Economics Faculty

• Pol Antràs
• Robert Barro
• Emily Breza
• John Y. Campbell
• Raj Chetty
• Gabriel Chodorow-Reich
• Richard Cooper
• David M. Cutler
• Melissa Dell
• Karen Dynan
• Benjamin Enke
• Richard B. Freeman
• Benjamin M. Friedman
• Roland G. Fryer, Jr.
• Xavier Gabaix
• Edward Glaeser
• Claudia Goldin
• Benjamin Golub
• Gita Gopinath
• Oliver Hart
• Elhanan Helpman
• Dale Jorgenson
• Myrto Kalouptsidi
• Maximilian Kasy
• Lawrence Katz
• Gabriel Kreindler
• David Laibson
• Robin S. Lee
• N. Gregory Mankiw
• Stephen Marglin
• Eric S. Maskin
• Marc Melitz
• Jeffrey Miron
• Ariel Pakes
• Amanda Pallais
• Matthew Rabin
• Gautam Rao
• Kenneth Rogoff
• Amartya Sen
• Neil Shephard
• Andrei Shleifer
• Stefanie Stantcheva
• Jeremy Stein
• James Stock
• Ludwig Straub
• Tomasz Strzalecki
• Lawrence H. Summers
• Elie Tamer
• Winnie Van Dijk
• David Yang

Current HBS Faculty

• Laura Alfaro
• Samuel B. Antill
• Brian K. Baik
• Malcolm P. Baker
• John Beshears
• Katherine B. Coffman
• Lauren H. Cohen
• Shawn A. Cole
• Joshua D. Coval
• Mihir A. Desai
• Mark L. Egan
• Benjamin C. Esty
• C. Fritz Foley
• Stuart C. Gilson
• Paul A. Gompers
• Jerry R. Green
• Shane M. Greenstein
• Robin Greenwood
• Brian J. Hall
• Samuel G. Hanson
• Victoria Ivashina
• Ebehi Iyoha
• Robert S. Kaplan
• William R. Kerr
• Scott Duke Kominers
• Jacqueline Ng Lane
• Josh Lerner
• Michael Luca
• Alexander J. MacKay
• Edward McFowland III
• David A. Moss
• Ramana Nanda
• Matthew Rabin
• Forest L. Reinhardt
• Edward J. Riedl
• Raffaella Sadun
• William A. Sahlman
• David S. Scharfstein
• Joshua R. Schwartzstein
• Arthur I Segel
• Emil N. Siriwardane
• Ariel D. Stern
• Adi Sunderam
• Boris Vallee
• Luis M. Viceira
• Matthew C. Weinzierl
• Dennis A. Yao

Current Business Economics Students

• Maxim Alekseev
• Martin Aragoneses
• Sage Belz
• Michael Blank
• Fiona Chen
• Jiafeng (Kevin) Chen
• Cameron Cohen
• Jorge Colmenares
• Terry Culpepper
• Songyuan Ding
• Jo Ellery
• Simon Essig Aberg
• Toren Fronsdal
• Jacob Furst
• Jeffrey Gortmaker
• Shlok Goyal
• Helene Hall
• Ruru (Juan Ru) Hoong
• Catherine Huang
• Baiyun Jing
• Nathan Kaplan
• Justin Katz
• Lev Klarnet
• Shira Li
• Angela Ma
• Alex Magnuson
• Fanele Mashwama
• Marcela Mello
• Laura Nicolae
• Lauren Rice
• Maya Roy
• Dominic Russel
• Kunal Sangani
• Claire Shi
• Wilbur Townsend
• Jennifer Walsh
• Andi Wang
• Alex Wu
• Hanbin Yang
• Jeffrey Yang
• Jennifer Zou

Current HBS Faculty & Students by Interest

Recent placement, john conlon, 2023, erica moszkowski, 2023, ran zhuo, 2023, matthew lilley, 2022, david zhang, 2022, karen shen, 2021, ravi jagadeesan, 2020, christopher anderson, 2019, yizhou jin, 2019, william diamond, 2018, neil thakral, 2018, spencer yongwook kwon, 2023, daniel ramos, 2023, francesca bastianello, 2022, frank pinter, 2022, andreas schaab, 2021, edoardo maria acabbi, 2020, michael thaler, 2020, vitaly bord, 2019, weiling liu, 2019, anastassia fedyk, 2018, robert minton, 2023, sagar saxena, 2023, talia b. gillis, 2022, ron yang, 2022, gregor schubert, 2021, xiang ding, 2020, oren danieli, 2019, janelle schlossberger, 2019, yueran ma, 2018.

Graduate School

Economics (ph.d.), economics (ph.d.) | graduate.

Our doctoral program in Economics provides rigorous training in applied economic analysis, microeconomic and macroeconomic theory, game theory, and econometrics. Our graduates are at the forefront of applied economics research spanning fields like public finance, household economics, international economics, behavioral economics, and labor economics.

The Ph.D. program in Economics at Howard’s Graduate School provides students with rigorous technical training in applied economic analysis, microeconomic and macroeconomic theory, game theory, and econometrics. Our program prepares students for careers in academia, public policy, and government as leading economists, consultants, statisticians, and senior researchers. You'll benefit from Howard’s premier location at the center of policymaking in Washington, DC, and have access to a network of top-ranked and nationally recognized economic institutions, consulting firms, think tanks, and government agencies, including the Federal Deposit Insurance Corporation, the International Monetary Fund, the World Bank, and the Federal Reserve. You may choose from four distinct fields of specialization: growth and development, urban economics, labor economics, and international economics. Our students shape their course of study in a major subfield and in a minor subfield and pursue original policy-relevant research tailored to their individualized program of study. Regularly scheduled graduate seminars and workshops offer a forum for you to present your early-stage research or learn about the latest research in your fields from invited speakers. The Department of Economics is affiliated with research centers like the Center on Race and Wealth, the Center of Excellence in Housing and Urban Research and Policy, and the Center for Urban Progress. You will also benefit from the close mentorship of faculty who are committed to your professional development and are at the forefront of economics research spanning fields including public finance, household economics, environmental economics, international economics, development economics, econometrics, behavioral economics, and labor economics.

Program Snapshot

      ❱  72 credit hours       ❱  Full-time       ❱  On-campus format       ❱  Degree: Ph.D.

Application Deadlines

Spring 2024 entry:         ❱  Nov. 1, 2023  (final deadline)

Fall 2024 entry:         ❱  Dec. 1, 2023  (early deadline)       ❱  Feb. 15, 2024  (priority deadline)       ❱  Apr. 15, 2024  (final deadline)

Applicants should submit their applications as early as possible for earlier consideration of departmental funding opportunities. Applicants have until the final deadline to apply. However, applications will be reviewed on a rolling basis throughout the admissions cycle. 

Transfer credits accepted (reviewed by program director; up to 24 approved credits from the student's master's program may be transferred into the Ph.D. program)

Dr. Omari Swinton

Gail pritchett, program details.

• Degree Classification: Graduate
• Related Degrees: Ph.D.

Admission Requirements

Application for admission.

• Online GradCAS  application
• Statement of purpose/ Statement of academic interest ( 500-1,000 words )
• GRE scores not required
• Official transcripts sent to GradCAS
• 3 letters of recommendation
• Bachelor's degree from an accredited college or university or the international equivalent 
• Resume or Curriculum Vitae
• Autobiographical statement ( 500-750 words )

GRE Required?

Gre preferred minimums    .

• GRE Verbal Reasoning: N/A
• GRE Quantitative Reasoning: N/A
• GRE Analytical Writing: N/A

GPA Required Minimums    

• Overall GPA minimum: 3.0
• Undergrad GPA minimum: 3.0

Prerequisite Courses 

No expiration date for course prerequisites. Special admission with some conditions will be considered on an individual basis.

• Intermediate Economic Theory (6 semester credit hrs of Intermediate EconomicTheory)
• Economics (12 semester credit hrs of any Economic courses)
• Mathematics for Economists or Differential Calculus (a course or 3 semester credit hrs of Mathematics for Economists or Differential Calculus)
• Statistics (6 semester credit hrs of Statistics)

For students with a master's degree in Economics or a related field:  

Students admitted into the Ph.D. program with a master's degree in Economics or a related field must have a GPA of well over B and a minimum of 24 graduate-level course credits, including at least 6 semester credit hrs in economic theory, 3 semester credit hrs in econometrics, and 3 semester credit hrs in graduate-level statistics. 

Reference Requirements     

Evaluator type accepted:

• Professor (Required)
• Supervisor/Manager

Evaluator type not accepted:

• Family Member

• Faculty Intranet

DEPARTMENT OF ECONOMICS

• Prospective Ph.D.s

Prospective Ph.D. Information

Northwestern's Ph.D. program in Economics owes its international reputation to an outstanding faculty, a well-organized program of study, extensive student-faculty interaction, and an excellent record of recruiting, training, and placing talented graduate students.

In addition, the Department of Economics and the Finance Department in the Kellogg School of Management offer a joint full-time Ph.D. program in Financial Economics .  

Program details

Students generally complete the Ph.D. program in four to six years. Please note that the department does not admit students for a terminal MA degree. An MA degree is only available to Economics Ph.D. students who have successfully completed the first year of the doctoral program, and to students enrolled in other doctoral programs at Northwestern.

The Ph.D. program has approximately 120 students in residence and an average entering class of 25 each year.

The department actively supports the placement of Ph.D. graduates in positions at prestigious universities, government agencies and private corporations. See where past graduates have been placed.

Application details

• Financial aid
• Student housing

Our fields of study:

• Development Economics
• Econometrics
• Economic History
• Health Economics
• Financial Economics
• Industrial Organization
• Labor and Public Economics
• Macroeconomics
• Microeconomic Theory

Why Northwestern?

The department of economics at northwestern university is among the best in the world..

Located on a scenic lakefront campus in Evanston, Northwestern University offers the best features of small-town and large-city living. There is easy access by public transportation to the cultural, sporting and recreational opportunities in one of the world's greatest cities.

Find more reasons to choose Northwestern.

Purdue’s Daniels School offers a PhD in Economics which develops core competencies in microeconomics, macroeconomics and econometrics, while allowing students to choose specialized study in a variety of different fields. The Economics PhD is well-suited for those interested in rigorous application of mathematical tools to better understand decisions made by individuals and firms, and to evaluate economic policies.

By collaborating with renowned faculty in the areas of econometrics, experimental and behavioral economics, industrial organization, international trade, labor economics, macroeconomics, and public economics, our doctoral students go on to conduct frontier research at leading universities, shape public policy and influence business strategy.

Grounded in a strong methodological and quantitative orientation, our PhD program broadens students’ understanding of economic issues, provides an opportunity for individualized research and specialization, and sharpens critical thinking skills.

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Most Trusted #4

Morning Consult, 2022

Best Value School #7

The Wall Street Journal / Times Higher Education, 2022

Most Innovative School in the U.S. Top 10

US News and World Report, 2023

Want to Learn More? 

If you would like to receive more information about doctoral study in Economics, please fill out the form and an Admissions Specialist will be in touch to connect you with a department representative!

Contact us for more information [email protected]

Program Details

Faculty and Students

Curriculum and Thesis

In their first and second years, PhD students are required to complete a series of core classes, coursework in their major and minor fields of study, and an advanced research methods course before proceeding to the thesis-writing stage.

Core courses

Students must satisfy the requirements in at least 10 of 12 half-semester first-year core courses (14.384 and 14.385 are considered second-year courses). The requirements can be met by earning a grade of B or better in the class or by passing a waiver exam.

Waiver exams are offered at the start of the semester in which the course is offered and graded on a pass-fail basis. Students who receive a grade of B- or below in a class can consult the course faculty to determine whether to take the waiver exam or re-take the course the following year. These requirements must all be satisfied before the end of the second year.

Course list

• 14.121: Microeconomic Theory I
• 14.122: Microeconomic Theory II
• 14.123: Microeconomic Theory III
• 14.124: Microeconomic Theory IV
• 14.380: Statistical Methods in Economics
• 14.381: Estimation and Inference for Linear Causal and Structural Models
• 14.382*: Econometrics
• 14.384*: Time Series Analysis (2nd year course)
• 14.385*: Nonlinear Econometric Analysis (2nd year course)
• 14.451: Dynamic Optimization Methods with Applications
• 14.452: Economic Growth
• 14.453: Economic Fluctuations
• 14.454: Economic Crises

*Courses 14.382, 14.384, and 14.385 are each counted as two half-semester courses.

Most students will also take one or more field courses (depending on whether they are waiving core courses) during their first year. Feel free to ask your graduate research officer, field faculty, and advanced students for advice on how you structure your first-year coursework.

Second year students must also successfully complete the two-semester course 14.192: Advanced Research Methods and Communication. The course, which is graded on a pass-fail basis, guides students through the process of writing and presenting the required second-year research paper.

Major field requirement

By the end of year two, PhD students must complete the requirements for two major fields in economics. This entails earning a B or better in two designated courses for each field. Some fields recommend additional coursework or papers for students intending to pursue research in the field.

Major fields must be declared by the Monday following the spring break of your second year. Your graduate registration officer must approve your field selections.

Minor field requirement

PhD students are also required to complete two minor fields, taking two courses in each field and earning a grade of B or better. Your graduate registration officer must approve your field selections.

Minor coursework is normally completed by the end of year two, but in some cases students can defer the completion of one field until after general exams. Students must consult with their graduate registration officer before making a deferment.

Options for minor fields include the eleven economics major fields, plus computation and statistics (from the interdisciplinary PhD in Economics and Statistics).

Students who wish to satisfy one of the minor field requirements by combining two courses from different fields–for example, environmental economics and industrial organization II–can petition the second-year graduate registration officer for permission.

At least one minor field should be from the department’s standard field list.

The fields in which the Department offers specialization and the subjects that will satisfy their designation as a minor field are given in the chart below. Some fields overlap so substantially that both cannot be taken by a student. In any event, the same subject cannot be counted towards more than a single minor field. Students must receive the approval of their Graduate Registration Officer for their designated major and minor fields.

List of fields

• Development
• Econometrics
• Industrial organization
• International
• Macroeconomics
• Organizational
• Political economy
• Public finance
• Computation and statistics (minor only)

Subjects satisfying major and minor requirements

Advanced economic theory.

Minor: Any subset adding up to two full semesters from 14.125, 14.126, 14.127, 14.130, 14.137, 14.147, 14.160, 14.281 and Harvard Ec 2059. Major: At least two of 14.125, 14.126, 14.281, and Harvard Ec 2059. Recommended for major: 14.126, 14.281, and at least one of 14.125, 14.127, 14.130, 14.147, and Harvard Ec 2059.

Econometrics and Statistics

Minor: 14.382 in addition to one of 14.384 or 14.385. Major: Any one of 14.386, 14.387, 14.388 in addition to one of 14.384 or 14.385. Recommended for major: 14.384 and 14.385. *Dual PhD in Economics and Statistics has an additional requirement of 14.386.

Economic Development

Major and minor: 14.771 and 14.772 or 14.773

Minor: Any two of 14.416J, 14.440J, 14.441J, 14.442J, 14.448. Major: 14.416J and 14.441J

Industrial Organization

Minor: 14.271 and 14.272 or 14.273. Major: 14.271 and 14.272 or 14.273. Recommended for major: 14.271, 14.272, and 14.273.

International Economics

Major and minor: 14.581 and 14.582

Labor Economics

Major: 14.661 and 14.662A. Minor: Two subjects chosen from 14.193, 14.661, and 14.662

Monetary Economics

Major and minor: Two subjects chosen from 14.461, 14.462, and 14.463

Organizational Economics

Major and minor: 14.282 and one of 14.283-284, 14.441J, or an approved substitute

Political Economy

Major and minor: 14.770 and 14.773

Public Economics

Major and minor: 14.471 and 14.472

General exams

MIT requires doctoral candidates to complete an advanced course of study that includes general exams at its completion. Beginning in 2019-20, the Economics Department will operationalize this requirement to include successful completion of: the core and other required courses; course exams and other requirements of courses in each of a student’s two major and two minor fields; the written research paper and oral presentation components of 14.192. Students may present for the general exams while having one remaining minor field to complete. The faculty will review these components together with the candidate’s overall course record to determine whether students have passed the general exam requirement and can proceed to the thesis writing stage.

Typical course schedule

Math Camp begins on the second Monday in August.

Fall Semester

14.121/14.122 (Micro Theory I/II) 14.451/14.452 (Macro Theory I/II) 14.380/14.381 (Statistical Method in Economics & Applied Econometrics) Field Course (major or minor)

Spring Semester

14.123/14.124 (Micro Theory III/IV) 14.453/14.454 (Macro Theory III/IV) 14.382 (Econometrics) Field Course (major or minor)

2-3 Field Courses 14.192 (Advanced Research and Communication) 14.384  or  14.385 (Advanced Econometrics)

3 Field Courses 14.192 (Advanced Research and Communication)

Years 3 and up

Field workshop Field lunch Thesis writing

Upon satisfying the core and field requirements, PhD candidates embark on original research culminating in a completed dissertation. A PhD thesis normally consists of three research papers of publishable quality. The thesis must be approved by a student’s primary and secondary thesis advisors, and by an anonymous third reader. These three faculty members will be the candidate's thesis committee and are responsible for its acceptance. Collaborative work is acceptable and encouraged, but there must be at least one paper in the dissertation without a co-author who was a faculty member when the research started.

Criteria for satisfactory progress

Third-year students.

• Meet regularly with their advisor
• Participate consistently in their primary field advising lunch, their primary field workshop, and the third-year student research lunch
• Complete their third-year paper
• Participate in third-year meetings organized by the thesis graduate research officer

Students should present on their research in progress at least once in both the third-year student research lunches and their field advising lunch. Presentations provide opportunities for early and broad feedback on research ideas and the chance to develop oral presentation skills. Research ideas or early stage work in progress is encouraged and expected.

Fourth-year and later students

• Participate consistently in their primary field advising lunch and their primary field workshop
• Present at least once per year in their field advising lunch or field workshop. A presentation each semester in the field advising lunch is strongly recommended by most fields; consult your advisors for more information

Satisfactory progress toward a dissertation will be evaluated based on progress assessments by the student’s primary advisor, regular participation in the lunches and workshops, and field lunch or workshop presentations that show continued progress.

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Why Michigan?

The discipline of economics has become increasingly technical, focused on arcane abstractions, often failing to connect with the messiness of economics as it works in the “real” world. Michigan stands apart as a department which champions the view that the cutting-edge theoretical and empirical methods of economics can and should be used for understanding and improving the world in which we live. The faculty of the Department of Economics is committed to pursuing economic knowledge that contributes to solving significant social problems. The commitment to applied, relevant economics does not shun the development of new theoretical or statistical methods. Rather, rigorous analysis of problems requires fresh insights from theory and econometrics.

Michigan is a full-service department, offering fields in virtually all specializations of modern economics including microeconomic theory, econometrics, macroeconomics, finance, history, international economics, development, public finance, industrial organization, labor, and natural resources. Many faculty, and the students who work with them, collaborate with other programs on campus including the Ford School of Public Policy, the School of Public Health, the Institute for Social Research, the Ross School of Business, and the School of Information. With over 50 faculty actively engaged in research in the department, and an equal number in other programs on campus, graduate students can pursue a wide variety of specializations.

Career development

Michigan is rightfully proud of its placement record. For decades, every doctoral student that has graduated from the Department of Economics has obtained a position working as a professional economist. Many have gone on to careers in academic institutions. Others have pursued careers in public policy or at premier liberal arts colleges. What explains our success in placement? First, our students are well trained. Michigan students leave the program with expertise in economics as it is practiced in the top research and teaching institutions in the world. Second, we run a comprehensive placement service that prepares students for interviews, seminars, and campus visits. Third, preparation for the job market is a multi-year process that begins the day students enter our program.

Ann Arbor is a great place to live (Don’t believe us? Check out the variety of rankings of our city! ), and the department is a great place to work. Faculty and graduate students are actively present in Lorch Hall. The department runs more weekly departmental seminars and student brown bags than it is possible to attend. The Graduate Economic Society is an active student organization that participates in setting policies for the graduate program and sponsors various activities designed to broaden the outlook and perspective of students as prospective Ph.D. economists.

The University of Michigan is committed to recruiting and supporting a diverse faculty and student body that reflect a wide range of cultures, ethnicities, perspectives and experiences. We believe that a wealth of knowledge comes from our students’ backgrounds, their educational history, their gender, their prior work/research experience and a variety of experiences. Graduates of the doctoral program have come from countries across the globe and from all regions of the United States.

Want to join us?

Admission is limited to students whose record shows a capacity for advanced work in the field of economics. An economics major is not a prerequisite, but some previous training in economics is essential. Training in calculus, linear algebra, differential equations and probability and statistics is also essential. Grades received in these courses are important factors in the admission decision. When appraising an applicant's scholarly promise, the faculty considers the academic record as well as letters of recommendation, statement of purpose, the results of the Graduate Record Examination and other experience.

Please see further information on our   Application Process   and   FAQs  on how to best prepare an application to the University of Michigan’s Economics PhD program!

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• Resources for Students
• Preparing for graduate school

Considerations for prospective graduate students in economics

Students from a wide variety of backgrounds earn graduate degrees in economics. This includes economics and non-economics majors, those with and without prior graduate training, and those with and without prior economics employment experience.

To decide which program is the best fit, potential students should examine their own qualifications (including their GRE scores, their GPA, and their mathematical preparation) as well as the methodological approach, fields of specialization, predominant ideology, size of program, program culture (cooperative, competitive, etc.), typical time-to-degree, required examinations, financial aid, emphasis on mathematics, job prospects, and location of the programs to which they apply.

For those who wish to pursue academic careers, the availability of training in teaching methods during graduate school may also be a consideration.

Some applicants find it useful to contact students at their target programs to find out about current students' perceptions and experiences. Keep in mind that faculty tend to be fairly mobile throughout their careers, so it may be risky to choose a program out of a desire to work with one specific faculty member.

Further reading for students considering graduate study in economics

• Dr. Ajay Shenjoy at UC-Santa Cruz has a YouTube video describing applying to an Economics PhD program in the U.S.
• The Fed has a two-year Research Assistants program that can provide training and experience for those who want to pursue a graduate degree in economics.
• Professor Sita Slavov has a page of tips for applying to PhD Programs in economics .
• The Occidental College Department of Economics has posted a guide called Becoming an Economist .
• Ceyhun Elgin and Mario Solis-Garcia, former PhD students at the University of Minnesota have written: So, you want to go to grad school in Economics? A practical guide of the first years (for outsiders) from insiders.
• The Summer 2014 CSWEP newsletter includes a guide for Getting Into and Finishing a PhD Program .
• The Committee on the Status of Women in the Economics Profession (CSWEP) has a list of its newsletter articles for specific audiences , including those focused on undergraduate and graduate students.
• Professor William D. Craighead has a webpage with advice for students interesting in pursuing graduate studies in economics.
• Professor Greg Mankiw at Harvard University has a blog with advice for grad students on various topics.
• Professor David Colander's " The Making of an Economist Redux " reports the findings of surveys and interviews with graduate students at top-ranking economics graduate programs.
• Professors Wendy Stock and John Siegfried published a paper that reports on 15 Years of Research on Graduate Education in Economics: What Have We Learned?
• Professor Marie desJardins has a paper on " How to Succeed in Graduate School: A Guide for Students and Advisors ."
• Professor Dick Startz offers " A Guide for UCSB Undergraduates Considering a PhD in Economics ."

Advice for Phd Students in Economics

This site provides some resources for grad students in economics. if you have useful resources that you would like to be added to this page please reach out to the creators of this page ( chris roth or david schindler ), general grad school advice.

Jaya Wen: Ideas that helped me

Eric Zwick: The 12 Step Program for Grad School

Matthew Pearson: How to survive your first year of graduate school in economics

Chris Roth & David Schindler: Advice for Ph.D. Students

Ingar Haaland: Twitter thread

Berlin School of Economics: Researcher's guide

William Thomson: A Guide for the Young Economist (Book)

P.J. Healy: The Backwards Induction Approach to Grad School

The hidden curriculum (podcast)

Chris Blattman: Various pieces of professional advice (the advice blogposts can be found in the right panel of his webpage)

Advice for Grad Students on the Greg Mankiw Blog

World Bank Blogs: Curated Miscellanea: Interviews, Advice, Policy Debates, and Commonly Referred to Posts

Andrew Oswald: Things I would have found it useful to have been told when I was a young researcher 

Jeffrey Smith: Advice on Graduate School in Economics

Jennifer Doleac resource collection

Shanjun Li collection of resources

INOMICS PhD Advice

The Econ Resources & Grad School Wiki

Tobias Klein: Links for PhD students

Alex Albright: various resources 

Quan Le: collection of resources

Keith Head: collection of resources

Albert Ma: A beautiful mind

Natalia Emanuel: collection of resources Thriving in Economics book series: (separate books for PhD students & for those aspiring to a PhD)

Marc F. Bellemare’s Doing Economics book

Mitali Mathur: Flourishing in the First Year

Applying to Grad School

Chris Blattman’s application advice 

Berkeley’s advice on statements of purpose

Susan Athey: Professional advice

Miles Kimball: The complete guide to getting into an economics PhD program

Elgin et al.: So you want to go to grad school in economics?

Rachael Meager: For the ambitious, prospective Ph.D. student

Natalie Duncombe: Applying to graduate school

Natalie Duncombe: Preparing for the NSF

Alex Lang NSF GRFP

Advice for PhD Econ aspirants from India

Jesse Shapiro: Notes on Applying for a PhD in economics

Harvard-MIT Application Assistance and Mentoring Program (AAMP)  (bottom of admission pages: https://economics.mit.edu/academic-programs/phd-program/admissions ) 

LSE Applicant Mentoring Program is now across multiple schools and has the following landing page: 

https://sites.google.com/view/econphdamp/home

Matt Lowe: How to Generate Ideas

Matt Lowe: Idea creation in class

Paul Niehaus: Doing research

Steve Pischke: How to get started in research? 

Don Davis: PhD Thesis Research: Where do I start? 

Frank Schilbach: 5 steps towards a paper

Shiv Hastawala: Developing ideas for applied micro development papers

Some principles of Econ Theory research

Krishna Srinivasan: Is an idea worth pursuing? Checklist

From Ideas to Papers

Ricardo Dahis: Advice for Academic Research

Matthew Lebo: Managing Your Research Pipeline

Sam Lynch: Managing Your Research Pipeline

Jesse Shapiro: Four Steps to an Applied Micro Paper

Amy Finkelstein: Most projects fail ... and other things I've learned from (trying to do) empirical work

Amy Finkelstein: An unofficial guide to trying to do empirical work

Hal Varian : How to Build an Economic Model in your Spare Time

Ben Olken’s epic fails

Podcast on Behavioral Science Research and how it is made  

Mental Health

Frank Schilbach: Resources on mental health

Scott Cunningham: Mental Health and Success

Chris Roth: Practical Advice on Meditation

Eric Zwick: Love te Market

John Cawley’s guide on the US Job Market

Chicago students' Economics Job Market Advice

David Smerdon: How to survive the economics job market

David Schindler: Guide to the European Job Market

Michela Carlana: EEA Guide for European Job Market Candidates

Johannes Pfeifer: Job Market Resources

Michael Ewens: Job Market Websites

Kelsi Hobbs: Job Market Materials

AYEW: Economics Job Market Roundtable

Kim Cramer: Columbia Job Market Advice

The European Job Market for Economists Info Session 2022: Slides Part I , Slides Part III , Slides Part IV

The European Job Market for Economists Info Session 2023: Slides Part I , Slides Mental Health , Slides Part III , Slides Part IV , Slides Part V

Claudia Goldin & Lawrence Katz: The Ten Most Important Rules of Writing Your Job Market Paper

John Cochrane: Writing Tips for Ph.D. Students

Plamen Nikolov: Writing Tips for Economics Research Papers

Claudia Sahm: Writing Economics Research Papers  

Don Cox: The Big 5, How to write the introduction of a presentation (and paper)

Arthur Turell: Writing Papers

Keith Head: Formula for writing an introduction

Albert Ma: On Writing Economics Papers

Eric Sims’s PhD & Writing Workshop

Datasets and coding

Pietro Biroli collects list of datasets for applied work and gives wise suggestions 

Martin Halla: Microdata

Coding for Economists  

Julian Reif: Stata Coding Guide

Gabor Bekes and Gabor Kezdi: Data Analysis

Presentations

Jesse Shapiro: How to Give an Applied Micro Talk

Monika Piazzesi: Tips on how to avoid disaster in presentations

Kjetil Storesletten: The Ten Commandments for How to Give a Seminar

Rachael Meager: Public Speaking for Academic Economists

LSE: How to design an award-winning poster

Resources for research assistants

Econ RA India

https://raguide.github.io/

https://github.com/gslab-econ/ra-manual/wiki/Introduction

https://povertyaction.github.io/guides/

Stata Coding Guide

Conferences

Amma Panin and Marco Schwarz list of conferences and workshops in Behavioral and Experimental Economics

Barton Willage and Anne Burton's list of Econ conferences

Apurav Bhatiya: Conferences in Political Economy

AEA CSWEP: Getting research funding  

Matthew Jackson and Laura Razzolini: Getting funding from the NSF

Anne Byrne: Small Grants

Economic Science Association: Junior Women in Experimental Economics

AEA: Committee on the Status of Women in the Profession

AEA: Committee on the Status of LGBTQ+ Individuals in the Profession

EEA: Women in Economics

Women in Economics: Mentoring Program

LSE: The Economics PhD Applicant Mentoring Program

Andrea Passalacqua: Guidelines to Write a Referee Reports

Berk, Harvey, Hirshleifer: How to Write an Effective Referee Report and Improve the Scientific Review Process 

Berk, Harvey, Hirshleifer: Preparing a Referee Report: Guidelines and Perspectives

Hammermesh: Facts and Myths about Refereeing

JFE: Advice for Referees

When refereeing be aware of biases against null results 

• University of Pennsylvania
• School of Arts and Sciences

Search Results

Graduate program.

The graduate economics program at Penn is a Ph.D. program administered by the Graduate Group in Economics, which consists of the  faculty  of the Department of Economics, and some of its secondary appointments in the  Wharton School  and the  School of Arts and Sciences . A master's program in Economics is  not  offered at the University of Pennsylvania.

The program trains students to conduct outstanding research in economics. All major areas of economics are covered, with particular strengths in theoretical and empirical microeconomics and in modern macroeconomics. Graduates of the program obtain positions at leading universities, research institutions, and government agencies around the world.

Students in this program acquire a thorough knowledge of economic theory and econometric methods before they begin their own research. They meet a series of  requirements  during their first years in the program, and thereafter devote most of their time to the writing of a  dissertation . The median length of time required for completion is 5.5 years. Almost all students are supported by combinations of fellowships, research assistantships, and teaching assistantships during at least their first five years of study.

We look forward to receiving your applications to our program this fall. Applicants are accepted only for full-time work towards the Ph.D. degree. Part-time  admissions and terminal Master's applications are not considered. The application system for Fall 2024 is expected to open on October 1, 2023.

2023-24 Job Market Candidates

Penn Ph.D. students seeking jobs during the 2023-24 academic year.

Graduate Program Information

Prospective students can learn about the graduate program here.

Graduate Requirements

Necessary requirements forms for all Department of Economics Graduate Ph.D. students.

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Explore Our PhD Program

The Emory PhD Program puts students on the intellectual frontier of the economic discipline by introducing them to the leading-edge theories and techniques. This training allows students to actively investigate research questions of particular interest and importance to them.

Students in the PhD program in Economics at Emory enjoy:

• Distinguished faculty eager to mentor students
• Financial support including generous annual stipend and full tuition scholarship
• Low student-to-faculty ratio with small interactive classes
• Reside in Atlanta and enjoy the benefits of a major city
• Research opportunities at the Federal Reserve Bank of Atlanta and the Centers for Disease Control and Prevention
• Training in the most current and advanced quantitative methods, critical to research in the focus areas of Macroeconomics, Microeconomics, Health Economics, and Econometrics

Download our 2024 PhD Program Flyer

Renee Sevy-Hasterok

Graduate program coordinator.

Ph.D. in Economics

• Academic Programs

About this Program

The Department of Economics in the College of Liberal Arts offers the Ph.D. in Economics. It is designed for students of exceptional ability who wish to do advanced work in preparation for careers in university teaching and research, or as specialists in business, government, or research organizations. 

The course of study is more expansive in scope and is of greater depth than the master’s program, with programs individualized to fit each student’s interest and background.  

On this Page…

Program information, program type.

Doctorate Program

Area of Study

College of Liberal Arts

Program Location

Required credit hours, program details.

APPLICATION DEADLINE: March 1

The Department of Economics welcomes student applications with the following materials. Additional details are found on the department website .

• Complete the Graduate School’s Online Application.
• Pay the application fee ($50).
• Submit official transcripts.
• Submit GRE scores.
• International applicants whose first language is not English may be required to submit scores from an acceptable English language proficiency test .
• Upload Supplemental Application materials for the Department of Economics to the online application.
• Statement of purpose. T he two page statement should  describe your background, interest in economics, and interest in the graduate program at UM.
• Three letters of recommendation: provide contact information for three recommenders 

The Graduate School requires a minimum 3.0 undergraduate GPA. The Department of Economics welcomes students from any academic background, but expects students to be prepared for the rigors of graduate study in economics. When the Admissions Committee reviews an applicant’s transcript, it looks at the overall performance and specific performance in economics or economics-related courses and quantitative courses (math, statistics).

Students in the Ph.D. in Economics complete at least 54 credit hours of graduate courses beyond the bachelor’s degree or at least 30 approved graduate hours beyond the master’s degree.

Students must meet the core requirements for the M.A. degree: 

• Econ 604: Applied Statistical Techniques in Econ (or 629 Statistical Methods for Economics)
• Econ 605: Microeconomics I
• Econ 606: Macroeconomics I
• Econ 609: Mathematics for Economists

Ph.D. students select two subfields chosen from applied microeconomics, applied macroeconomics, and econometrics. They complete the following courses:

• Econ 614: Microeconomics II
• Econ 628: Macroeconomics II
• Econ 629: Statistical Methods for Economics
• Econ 630: Econometrics I
• Econ 631: Econometrics II
• 9 credit hours in subfield 1
• 9 credit hours in subfield 2 or in approved area outside economics

Each student must successfully pass a written examination in macroeconomics, microeconomics, and econometrics.  After passing the comprehensive exams, students must successfully defend a dissertation proposal. After the dissertation is written, a final oral defense culminates the student’s doctoral program at the university.

All our Ph.D. students receive an assistantship which are currently $20,000 for 9 months. Assistantships require the student to work as a teaching/research assistant to departmental faculty, or as a graduate instructor. 

Students with a graduate assistantship receive a scholarship that covers some or all of the tuition and non-residency fee, if applicable, for regular semesters and subsidized health insurance .

In addition, the Lewis Smith Scholarship is awarded annually to a full-time Ph.D. student who has demonstrated outstanding academic achievement in economics.   

The Graduate School’s financial aid webpage lists a variety of funding possibilities, including summer support and a recruiting fellowship program that promotes academic excellence and access to graduate education to groups who are historically underrepresented.  

The university also has the  Mississippi Center for Supercomputing Research .

• [email protected]
• (662) 915-7474

What is Economics?

We’re Here to Help!

If you have any questions about the Ph.D. in Economics, don’t hesitate to get in touch!

Natalia Kolesnikova Graduate Program Coordinator

Explore Affordability

We have a variety of scholarships and financial aid options to help make college more affordable for you and your family.

Apply to the University of Mississippi

Are you ready to take the next step toward building your legacy?

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Indiana University Indianapolis

Department of economics.

Ph.D. in Economics

In our Ph.D. program, which specializes in health economics, you will begin with core training in economic theory and econometrics, emphasizing microeconomic theory and microeconometrics.

The program offers a two-course field sequence in health economics as well as a course focusing on the institutional context of health, health care, and health insurance.

Additionally, you will take Ph.D. minor courses in a field such as biostatistics, epidemiology, bioethics, or health policy, giving you the necessary background for working in the interdisciplinary teams with whom health economists often interact.

In addition to econometric theory, we will also offer a year-long empirical econometrics sequence, emphasizing statistical packages, working with large datasets, problems in applied econometrics and proposal writing.

Our program features strong disciplinary training in micro economic theory, econometrics, and health economics enhanced with exposure to other related disciplines central to health and healthcare.

Admission Requirements:

• Bachelor’s degree from an accredited college or university
• Minimum 3.0 grade point average on a scale of 4, with a minimum 3.0 average in the major field.
• Course sequence in univariate& multivariate calculus (equivalent to MATH M165, M166, & M261 at IUPUI.)
• Linear algebra (equivalent to Math M351 at IUPUI).
• Either Statistics or Econometrics:calculus-based undergraduate level course in probability or statisticsOR- any undergraduate statistics course plus a course in introductory econometrics (equivalent to E270 and E470 at IUPUI).
• Intermediate Microeconomic Theory (equivalent to E321 at IUPUI)
• Course sequence in Mathematical Analysis (equivalent to Math M441 and Math M442 at IUPUI).
• Additional courses in Economics.
• Graduate Record Examination (GRE) General Test (Quantitative, Verbal and Analytical Writing).
• Successful candidates typically have quantitative scores at or above 155 (new scoring system) or 700 (old scoring system). Analytical Writing and Verbal scores can be somewhat lower.
• Test of English as a Foreign Language (TOEFL). We generally look for TOEFL scores of 100 or better.
• International English Language Testing System IELTSThe minimum acceptable IELTS score is 6.5; in practice, we look for an IELTS of 7 or more. It is required that applicants take the academic reading and writing modules, not the general training reading and writing modules. Undergraduate Record

Application Expectations

Applications will be viewed in their entirety wherein a candidate’s outstanding qualifications in one area can be balanced against more marginal qualifications in another dimension. However, admission is competitive and financial support is even more competitive. Most of the students, who are admitted and supported, will exceed the minimal requirements.

University Fellowships

The University also awards one-year University Fellowships to a highly select group of incoming Ph.D. students. This Fellowship includes no work requirement. The University Fellowship stipend is $22,500 and, in addition to tuition and health insurance as above, includes a travel allowance for conference travel. Students who receive University Fellowships in their first year are awarded a Teaching or Research Assistantship in the subsequent four years at a stipend level of $22,000.

Contact, Professor Wendy Morrison , Graduate Program Director

Related Links

• 5-Year B.A. & M.S.
• M.S. Economics
• Meet our Ph.D. Students
• Ph.D. Placement History
• Job Market Candidates
• Scholarships and Awards

Economics Blog

• Uniting Minds and Markets
• Course Spotlight: ECON-E387
• Career Readiness Starts Now!
• A Student Takeover for the 2022 Celebration of Scholarship!
• 2022-23 Student Ambassador Applications Due by April 3