phd in economics length

Doctoral Program

The Ph.D. program is a full time program leading to a Doctoral Degree in Economics.  Students specialize in various fields within Economics by enrolling in field courses and attending field specific lunches and seminars.  Students gain economic breadth by taking additional distribution courses outside of their selected fields of interest.

General requirements

Students  are required to complete 1 quarter of teaching experience. Teaching experience includes teaching assistantships within the Economics department or another department .

University's residency requirement

135 units of full-tuition residency are required for PhD students. After that, a student should have completed all course work and must request Terminal Graduate Registration (TGR) status.

Department degree requirements and student checklist

1. core course requirement.

Required: Core Microeconomics (202-203-204) Core Macroeconomics (210-211-212) Econometrics (270-271-272).  The Business School graduate microeconomics class series may be substituted for the Econ Micro Core.  Students wishing to waive out of any of the first year core, based on previous coverage of at least 90% of the material,  must submit a waiver request to the DGS at least two weeks prior to the start of the quarter.  A separate waiver request must be submitted for each course you are requesting to waive.  The waiver request must include a transcript and a syllabus from the prior course(s) taken.  

2.  Field Requirements

Required:  Two of the Following Fields Chosen as Major Fields (click on link for specific field requirements).  Field sequences must be passed with an overall grade average of B or better.  Individual courses require a letter grade of B- or better to pass unless otherwise noted.

Research fields and field requirements :

• Behavioral & Experimental
• Development Economics
• Econometric Methods with Causal Inference
• Econometrics
• Economic History
• Environmental, Resource and Energy Economics
• Industrial Organization
• International Trade & Finance
• Labor Economics
• Market Design
• Microeconomic Theory
• Macroeconomics
• Political Economy
• Public Economics

3.  Distribution

Required:  Four other graduate-level courses must be completed. One of these must be from the area of economic history (unless that field has already been selected above). These courses must be distributed in such a way that at least two fields not selected above are represented.  Distribution courses must be passed with a grade of B or better.

4.  Field Seminars/Workshops

Required:  Three quarters of two different field seminars or six quarters of the same field seminar from the list below.   

• Prospective Students
• Frequently Asked Questions

Please consult the following GSAS pages for additional information:

• https://gsas.columbia.edu/degree-programs/admissions
• https://gsas.columbia.edu/degree-programs/phd-programs/economics

In this FAQ:

Application Process

Admissions requirements, program and curriculum.

• Student Life

When will the application be available?

Application dates are available on the  Graduate School of Arts and Sciences Admissions Deadlines page .

Can I schedule a meeting with a faculty member or an administrator to discuss the program?

Due to the high number of applicants and inquiries the department receives, individual meetings with faculty or administrators are not possible. Questions not answered on the department website should be sent to  [email protected] .

If I have questions about the admissions process, should I contact the Economics department?

For all application-related questions, please contact the Graduate School of Arts and Sciences Admissions Department at [email protected] . For any questions that are department-specific, please send your inquiry to [email protected] .

If I submit a CV, can the Economics department evaluate my chance of being admitted?

We are unable to review your CV to determine the likelihood of admission. To be considered for admission, you must complete the full application. Please do not email your CV to the department, as it will not be reviewed.

What should I do to prepare myself for the PhD program in Economics?

Please see the American Economic Association’s website,  Preparing for graduate school: What you need to do to get in.

How many applications do you receive each year and how many applicants do you admit?

The program receives approximately 1000 applications each year. Each year, the department admits about 20 to 25 applicants.

Can I find out what the average GPA or GRE score is for admitted students?

The department does not release information about applicants or admitted students, including GPA and GRE scores. As the department receives hundreds of applications, admitted students are generally very qualified. Anyone interested in the program is encouraged to apply.

When should I plan to take the GRE and/or TOEFL/IELTS exams in order to meet the deadline?

All tests should be taken at least six weeks before the application deadline to ensure timely receipt by the admissions office.

Once I take the GRE exam, how do I report my scores to Columbia?

Educational Testing Service (ETS), who manage the GRE and TOEFL tests, and IELTS are required to report their official test scores directly to the University. We recommend that you also include a photocopy of your score report, if it is available, at the time you complete your application. Please be reminded however, these scores are not considered official unless they are reported directly to the University by ETS or IELTS. For more information see the  Graduate School of Arts and Sciences Admissions Supporting Material page .

I am interested in the Business Economics program, how do I apply?

When completing the online application, please select the option: I am interested in both tracks in order to be considered for the Business-Economics track. Note: your decision to apply to both tracks does not affect your chances of being admitted to the regular economics track.

Can I apply to both the Economics and Business Economics track programs?

Yes, when completing the application, please select the option: I am interested in both tracks to be considered for the Economics and Business-Economics track. Note: your decision to apply to both tracks does not affect your chances of being admitted to the regular economics track.

If admitted to the Business Economics program, can I transfer to the Economics program?

No, barring exceptional circumstances, there is no transfer from the Business Economics track to the Economics track or vice versa once admitted into the program.

Can my recommenders send their letters of recommendation directly to the Economics Department?

No, letters of recommendation must be submitted through the GSAS online application system. Letters of recommendation may not be sent via email, nor may paper letters be sent via postal mail. All letters must be uploaded by the recommenders directly to the application system.

You may submit your online application even if your letters of recommendation have not yet been submitted. Once the letters are received, your application will be updated.

Can I request an application fee waiver?

All application waiver requests must be submitted through the online application. Please see the application waiver request page for more information: https://gsas.columbia.edu/degree-programs/admissions/application-fee-waivers

How do I check on my application status?

Application Tracking instructions are found on the  Graduate School of Arts and Sciences FAQ page .

When can I expect to be notified regarding an admissions decision?

Notices of acceptance are sent out by March 15th; candidates have until 11:59 pm EST on April 15th to accept or reject the offer of admission via the online application.

If I am not admitted, can I reapply the following year? Can I receive specific feedback about my application?

If you are reapplying for the next academic year you must submit a new application. As noted on their  Admissions Supporting Material page , the Graduate School of Arts and Sciences allows reapplicants to reuse letters from an application in the prior year. Since the department receives hundreds of applications, it cannot provide specific feedback to applicants.

I am trying to decide whether or not to apply to Columbia. Would you be able to give me an idea of the minimum standards for admission?

Most successful applicants to our Ph.D. program score above the 90th percentile on the quantitative section of the GREs.  Students are advised they should have completed undergraduate linear algebra, probability and statistics, advanced calculus and real analysis to be prepared for classes in the Economics Ph.D. program.  Superb reference letters and/or excellent performance as an undergraduate are considered in the admission process as well.  Foreign students must also meet the minimum required TOEFL/IELTS (see below).  Official department visits, including meeting with faculty members, are arranged  after  students have been admitted. However, you are more than welcome to arrange a tour of the Columbia campus through the Visitor’s Center,  http://www.columbia.edu/node/6060.html

What are the admission requirements?

For detailed information regarding admission requirements, please consult the following webpage: https://gsas.columbia.edu/degree-programs/phd-programs/economics

Do you have a list of recommended courses that students take prior to applying to the PhD program?

Yes, recommendations include college-level coursework in probability, statistics, calculus, linear algebra, analysis and/or optimization. Some background in microeconomics, macroeconomics and econometrics is preferable.

Is there a minimum or maximum number of pages required for the writing sample?

There is no minimum or maximum number of pages required. The writing sample would normally be a research paper on which the applicant is an author, such as a chapter from an undergraduate or master’s thesis or other research with a recommended length of up to 30 pages.

Can I submit more than the required three letters of recommendation?

Yes, Columbia GSAS accepts up to four letters of recommendation.

I have a Master’s degree from another university, can I test out of any of the first-year PhD coursework?

Normally, first-year PhD students with advanced degrees take the standard course sequence. If they choose, students can pass out of the first year Micro, Macro and/or Econometrics course sequence by successfully completing the corresponding certifying exam.

If I take the GRE exam multiple times, how does the Department evaluate those scores?

When the GRE has been taken multiple times, the highest score achieved on each section is used in evaluating your application.

When completing your application, you will be asked to enter a complete set of scores from only one exam date, and to scan and upload a copy of the score report. However, you will also be able to scan and upload the results of any other exam date, so that all scores will be available to the admissions committee. Additionally, the official ETS score report will reflect scores from all the test dates you have elected to report to GSAS.

May I substitute some other exam such as the GMAT or LSAT for the GRE?

You must take the GRE. There can be no substitutions or exceptions.

Is there a minimum score required for the TOEFL/IELTS?

The Graduate School of Arts and Sciences requires a minimum score of 600 on the paper-based test, 100 on the internet-based test, or a 7.5 for the IELTS.

Under what circumstances would the Graduate School waive the language proficiency requirement?

The Graduate School of Arts and Sciences does not waive the English proficiency requirement. For information on how applicants may fulfill the requirement, please click  here .

Do you offer a part-time Ph.D. program?

There is no part-time study available to Ph.D. applicants to the Department of Economics.

What are the program requirements for the PhD in Economics?

For detailed information about program requirements, please consult the following webpage: https://econ.columbia.edu/phd/prospective-students/current-degree-requirements-for-the-ph-d/

What are the program requirements for the PhD in Business Economics?

For detailed information about the Business Economics program requirements, please consult the following webpage: https://www8.gsb.columbia.edu/programs/doctoral-program/academics/business-economics

Typically, how long does it take to complete the program?

In recent years, most of our PhD students have completed the program in 6 years.

Can PhD students in the Economics program take courses in other departments at Columbia?

Yes, in lieu of one of the fields designated by the Department, students may petition the DGS to take an individually-designed field. An individually-designed field consists of 3 courses, not all of which need to be offered by the Department. For more information, please see link here .

Can PhD students in the Economics program take courses at other universities while at Columbia?

Yes, as part of the Inter-College Doctoral Consortium (IUDC), Columbia PhD students can enroll in courses at participating universities. For more information, see link here .

Is Columbia’s PhD in Economics program a STEM program?

Yes.  As a STEM-designated program, F-1 visa holders within the PhD program are eligible to apply for the  F-1 STEM OPT Extension

Does the Economics Department require first-year PhD students to take Certifying exams?

First-year PhD students may have to take end-of-year certifying examinations in microeconomics, macroeconomics, and econometrics. These examinations are taken in the summer after the first year. They are graded pass or fail. If students receive a grade of B+ or better in both of the one-semester courses that make up the first-year sequence in microeconomics, macroeconomics, or econometrics, they are exempted from the requirement to take the certification exam in that field.

Does the Economics Department require second-year PhD students to take Field Exams?

In addition to courses, second-year students may have to pass a field exam in each field they have selected. (Each student must select two fields). Field exams are given in the summer after the second year. If students receive a grade of B+ or better in all of the courses taken to satisfy the requirements of a second-year field, they are exempted from the requirement to take the field exam in that field.

Are PhD students required to work as Teaching Fellows?

Yes, as part of their pedagogical training, all PhD students must work as Teaching Fellows for at least 2 semesters in order to obtain their degree. As part of the Columbia multi-year funding package, students generally work in years 2-4 as Teaching Fellows or Research Fellows unless they obtain funding from an external source.

What type of research opportunities are available to PhD students?

Research opportunities are available in the Economics Department, in the greater Columbia community and outside the University. Students begin research as early as in the summer after their first year. The Program for Economic Research (PER) supports many PhD student research initiatives. For more information, see link here .  Depending on their areas of interest, PhD students collaborate with Economics faculty and/or faculty in other schools such as the Business School, School of International and Public Affairs and Mailman School of Public Health, among others. The Graduate School of Arts and Sciences supports student research as well. For more information, see link .

Where do PhD students present their research?

PhD students have several venues to present research both in and out of the department. Starting in their second year, students present in at least one colloquium during the year. For more information about colloquia, please see the event schedule here . Starting in their third year, students present research in a colloquium once per semester. Additionally, students present research in workshops, lunches and breakfast meetings. Outside the department, students present their research in a variety of venues including the Business School, The Institute for Social and Economic Research Policy, and conferences around the world.

Where can I find information about the academic calendar?

The Office of the University Registrar maintains the academic calendar. For more information, see link here .

Once PhD students graduate, where do they get jobs?

For recent placement information, please see link .

Is there an Economics Department PhD student club?

Yes, the Association for Graduate Economics Students (AGES) hosts regular events and workshops.

How can I find out about events happening on campus?

The Economics Department maintains an electronic announcement page and posts updates on the Economics PhD bulletin board in the International Affairs Building. PER distributes updates regarding speaker events, lectures and workshops. Campus-wide events for the graduate community are listed here .

How can I find out about events happening in the community?

For upcoming events, students should consult the Arts Initiative link .

Is there a guarantee that on-campus housing will be available until I complete my PhD degree?

For students in good academic standing who make adequate progress toward their degree, guaranteed on-campus housing is available for 5 years with a possible 2-year extension. For more information, see here .

Are on-campus housing units furnished?

Yes, for more information about accommodations reserved for PhD students in the Graduate School of Arts and Sciences program, please see link . (Select the school specific tab and choose Graduate School of Arts and Sciences.)

Does Columbia assist students who would prefer to rent off-campus apartments?

Yes, please contact Columbia’s Off-Campus Housing Assistance Office

How can I find out more information about what is covered by Columbia’s health benefits for PhD students?

For detailed information about health benefits, please consult Columbia Health’s webpage here .

What are the fitness options at Columbia?

PhD students in the Economics program can work out at Dodge Fitness Center . During the semester, there is no membership fee required.

What sort of safety measures are in place to protect the Columbia community?

New York has a lower than average crime rate and ranks consistently among the safest large cities in the country. For more information, see the following link . Within New York City, Morningside Heights is consistently named one of the safest precincts. Furthermore, the  Department of Public Safety  ensures the security of Columbia’s campus and its students.

• Program Description
• Admissions Information
• Placement Information
• Program Requirements
• Announcements
• Graduate Student Appointments
• Office Hours
• List of 2nd Year Fields
• PhD Administrative Forms
• Job Market Candidates
• Honors and Prizes
• 1st Year Students (2023)
• 2nd Year Students (2022)
• 3rd Year Students (2021)
• 4th Year Students (2020)
• 5th Year Students (2019)
• 6th Year Students (2018)
• 7th Year Students (2017)
• Bridge to the Ph.D. Program

1022 International Affairs Building (IAB)

Mail Code 3308

420 West 118th Street

New York, NY 10027

Explore your training options in 10 minutes Get Started

• Graduate Stories
• Partner Spotlights
• Bootcamp Prep
• Bootcamp Admissions
• University Bootcamps
• Coding Tools
• Software Engineering
• Web Development
• Data Science
• Tech Guides
• Tech Resources
• Career Advice
• Online Learning
• Internships
• Apprenticeships
• Tech Salaries
• Associate Degree
• Bachelor's Degree
• Master's Degree
• University Admissions
• Best Schools
• Certifications
• Bootcamp Financing
• Higher Ed Financing
• Scholarships
• Financial Aid
• Best Coding Bootcamps
• Best Online Bootcamps
• Best Web Design Bootcamps
• Best Data Science Bootcamps
• Best Technology Sales Bootcamps
• Best Data Analytics Bootcamps
• Best Cybersecurity Bootcamps
• Best Digital Marketing Bootcamps
• Los Angeles
• San Francisco
• Browse All Locations
• Digital Marketing
• Machine Learning
• See All Subjects
• Bootcamps 101
• Full-Stack Development
• Career Changes
• View all Career Discussions
• Mobile App Development
• Cybersecurity
• Product Management
• UX/UI Design
• What is a Coding Bootcamp?
• Are Coding Bootcamps Worth It?
• How to Choose a Coding Bootcamp
• Best Online Coding Bootcamps and Courses
• Best Free Bootcamps and Coding Training
• Coding Bootcamp vs. Community College
• Coding Bootcamp vs. Self-Learning
• Bootcamps vs. Certifications: Compared
• What Is a Coding Bootcamp Job Guarantee?
• How to Pay for Coding Bootcamp
• Ultimate Guide to Coding Bootcamp Loans
• Best Coding Bootcamp Scholarships and Grants
• Education Stipends for Coding Bootcamps
• Get Your Coding Bootcamp Sponsored by Your Employer
• GI Bill and Coding Bootcamps
• Tech Intevriews
• Our Enterprise Solution
• Connect With Us
• Publication
• Reskill America
• Partner With Us

• Resource Center
• Bachelor’s Degree
• Master’s Degree

Best Doctorates in Economics: Top PhD Programs, Career Paths, and Salaries

If you’re a graduate student and interested in pursuing an advanced study in the field of economics, you should start researching the best PhDs in Economics. By enrolling in an economics PhD program, you’ll be getting an in-depth education on past and current economic trends.

In this article, we’ll try to help you choose the right PhD in Economics by going over some of the best programs in the United States. We’ll also cover some of the highest-paying economics jobs on the market and provide an overview of the PhD in economics salary possibilities.

Find your bootcamp match

What is a phd in economics.

A PhD in Economics degree is an advanced doctoral degree program that studies the distribution and consumption of goods and services. Economics classes teach students to analyze small-scale and global-scale economic factors to make predictions for future markets.

The main goal of economics departments in PhD programs is to teach students how to help different institutions improve and optimize their economic actions. Through a mix of teaching, research, and a heavy course load, economics grad students will perfect their quantitative skills and learn to make decisions that increase the profitability of the organizations they work for.

How to Get Into an Economics PhD Program: Admission Requirements

The admission requirements to get into an economics PhD program include a bachelor’s degree in a related field and a minimum 3.0 GPA. Other admission requirements can include GRE exam scores, letters of recommendation, a statement of purpose, and a resume. Admissions counselors will look at a student’s comprehensive experience before grad school.

Different schools have other specific admission requirements for their economics PhD programs, but all international and English as a second language-speaking (ESL) students will have to submit proof of English proficiency in the form of Test of English as a Second Language (TOEFL) exam scores.

PhD in Economics Admission Requirements

• Bachelor’s or master’s degree in a related field
• Minimum 3.0 GPA
• GRE test scores (optional for most schools)
• Two to three letters of recommendation
• Proof of English proficiency (for ESL and international students)
• Statement of purpose
• Previous knowledge in math-intensive subjects, such as economic theory, statistics, mathematics, differential and integral calculus, and linear algebra

Economics PhD Acceptance Rates: How Hard Is It to Get Into a PhD Program in Economics?

It can be very hard to get into economics PhD programs. Economics PhD acceptance rates vary between 2.4 and 7.4 percent. At Johns Hopkins University, for example, only 12 students are selected to enroll in the Economics PhD program out of more than 500 applications.

How to Get Into the Best Universities

[query_class_embed] how-to-get-into-*school

Best PhDs in Economics: In Brief

Best universities for economics phds: where to get a phd in economics.

The best universities for PhD economics programs include Arizona State University, John Hopkins University, Syracuse University, and Drexel University. These schools will adequately equip you with the economic knowledge and skills needed to ensure you are ready for a well-paying job in the economics career path of your dreams. Continue reading for all you need to know to prepare for grad school at one of the top Phd in Economics degree programs.

Arizona State University is a public research university founded in 1886. It is considered one of the best institutions for superior education. ASU offers more than 400 graduate degree programs led by experts and has been ranked as the nation’s most innovative university by US News & World Report . 

PhD in Economics

This economics PhD program provides training in microeconomic and macroeconomic theory, applied economics, and econometrics. Classrooms are relatively small, with about 45 graduate students, to facilitate mentoring and provide greater faculty attention within the department of economics. The program prepares students for teaching and research positions in the field of economics. 

PhD in Economics Overview

• Program Length: 5 years
• Acceptance Rate: Not stated
• Tuition: $ 858/credit (in state); $1,361/credit (out of state)
• PhD Funding Opportunities: National Science Foundation Graduate Research Fellowship, graduate teaching assistantships
• Bachelor's or master's degree from a regionally accredited institution
• Minimum cumulative GPA of 3.0
• Graduate admission application and application fee
• Official transcripts
• Three letters of recommendation

Colorado State University was founded in 1870. It is a public land-grant research university and is considered the flagship university of the Colorado State University System. It offers several programs and certificates across many fields and has over 7,000 enrolled graduate students.

This economics doctoral program offers meticulous training and teaches research methods in the many different areas of economics. These math intensive classes include microeconomic theory, macroeconomic theory, and econometrics. This econ program requires a minimum of 72 credits and allows students to focus on different areas like environmental, international, political, Keynesian, feminist, or regional economics.

• Tuition: $601.90/credit (in state); $1,475.80/credit (out of state)
• PhD Funding Opportunities: Graduate assistantships, scholarships, fellowships, internships, grants
• Online application and application fee
• Official transcripts of all collegiate work completed post-high school
• Letters of recommendation

Drexel University was founded in 1891. It is a private research university with over 8,900 enrolled graduate students. Their co-op education program sets this university apart from others, offering students the opportunity to get paid and gain real-world experience prior to graduating.

This PhD in Economics teaches a set of core courses including microeconomics, macroeconomics, and econometrics. Students are then required to specialize and demonstrate math skills in industrial organization, international economics, or macroeconomics. This PhD is an official STEM Designated Degree Program. Each class is composed of three to six doctoral students to optimize and facilitate interactions between students and faculty. 

• Tuition: $1,342/credit
• PhD Funding Opportunities: Graduate assistantships
• GRE scores from the past five years
• Personal statement
• Two letters of recommendation

Johns Hopkins University is a world-renowned private research university. It was founded in 1876 and is now organized into 10 campuses in Maryland and Washington, with international divisions in Italy and China. The university has over 22,000 graduate students enrolled across its social sciences, engineering, arts, and business schools.

This economics program is led by expert faculty and trains students in applied microeconomics and macroeconomics, economic theory, and econometrics. Students will receive one-on-one attention from faculty, allowing them to conduct better research and strengthen the complex analysis and quantitative skills necessary in the field of econ. 

• Program Length: 5-6 years
• Acceptance Rate: 2.4%
• Tuition: $58,720/year 
• PhD Funding Opportunities: Departmental fellowship (1st year), teaching or research assistantships (2nd to 5th years), Carl Christ Fellowship, Kelly Miller Fellowship, tuition fees funded by the department for enrolled students
• Unofficial transcripts from all previous colleges and universities
• GRE scores (quantitative scores of 160 or above)
• Minimum of two letters of recommendation

Kansas State University was founded in 1863 as the first public institution of higher education in Kansas. KSU is a public land-grant research university and has over 4,500 enrolled graduate students across 73 master's and 43 doctoral degree programs.

This PhD Economics program teaches students about the latest advances in econometrics, economic theory, and computation. The program requires the completion of a minimum of 90 credits, of which 30 are designated to researching and writing a high-quality dissertation.

• Tuition and Fees: $6,282/year (in state); $12,746/year (out of state)
• PhD Funding Opportunities: Teaching assistantships, the Wayne Nafziger Graduate Scholarship, the Lloyd and Sally Thomas Graduate Scholarship, and Edward Bagley Graduate Scholarship; tuition fees funded by the department for enrolled students
• Academic transcripts of all undergraduate and graduate coursework from each institution attended
• Short statement of objectives for graduate study
• GRE scores from the past five years (optional but encouraged)

Oregon State University ’s roots can be traced back to 1856 as a public land-grant research university that was founded as a primary and preparatory community school. Today, the university is the largest in Oregon. Oregon State is particularly renowned for its programs in earth, marine, and biological sciences and has over 5,668 enrolled graduate students.

PhD in Applied Economics

The 108-credit Applied Economics PhD degree program teaches students about economic theory, econometrics, development economics, and other quantitative methods. Grad school students of this program will gain the intellectual autonomy needed to examine real-world problems and apply relevant solutions regarding policy, education, trade, and the environment. 

PhD in Applied Economics Overview

• Program Length: 4-5 years
• Acceptance Rate: 6.7%
• Tuition: $498/credit (in state); $1,011/credit (out of state)
• PhD Funding Opportunities: Graduate assistantship

PhD in Applied Economics Admission Requirements

• Academic records from each institution attended
• Letters of reference
• Statement of objectives

Syracuse University is a private research university founded in 1831 with over 6,800 enrolled graduate students. Syracuse is ranked 59th on US News & World Report’s list of best national universities and features famous alum President Joe Biden. 

The PhD in Economics program at Syracuse University is a research-oriented degree that requires the completion of 72 credits. The program teaches students about mathematical economics, microeconomic theory, macroeconomic theory, and econometrics. Students will specialize in a primary field in labor, international, public, urban economics, or econometrics. 

• Acceptance Rate: N/A
• Tuition: $32,436/year
• PhD Funding Opportunities: University Fellowships, graduate assistantships, Melvin Eggers Graduate Economics Scholarship for Doctoral Students, David Greytak Fellowship Fund
• Transcripts from all collegiate and post-collegiate work
• Three letters of recommendation 

University of Maryland (UMD) at College Park was founded in 1856 and is the flagship campus of the University System of Maryland. UMD is a public, land-grant research university with 10,500 enrolled graduate students in over 230 graduate degree programs.  

PhD in Economics (ECON)

This econ PhD program offers a wide range of specializations to students, including advanced macroeconomics or microeconomics, behavioral and experimental economics, econometrics, economic history, international trade, and public economics. Students who enroll directly after they finish their bachelor’s degree are also able to obtain a Master of Arts degree simultaneously. 

PhD in Economics (ECON) Overview

• Acceptance Rate: 4.1%
• Tuition: $1,269/semester (in state); $2,496/semester (out of state)
• PhD Funding Opportunities: Graduate assistantships, Fellowship in Support of Diversity and Inclusion

PhD in Economics (ECON) Admission Requirements

• Transcripts from all institutions attended after high school
• Description of research and work experience
• GRE exam scores (optional)

University of Utah was established in 1850 as a public research university and is now considered the flagship institution of the Utah System of Higher Education. It currently has over 8,400 enrolled graduate students and offers several programs with financial assistance, academic opportunities, and postdoctoral fellows.

"Career Karma entered my life when I needed it most and quickly helped me match with a bootcamp. Two months after graduating, I found my dream job that aligned with my values and goals in life!"

Venus, Software Engineer at Rockbot

This economics PhD program allows students to explore many topics, including economic theory, post-Keynesian macroeconomics, Marxian economics, the economics of gender, labor market institutions, and intensive math classes. The program focuses particularly on themes of inequality, globalization, and sustainability. 

• Acceptance Rate: 7.4%
• Tuition and Fees: $1,271.79/credit (in state); $4,517.11/credit (out of state)
• PhD Funding Opportunities: Graduate assistantships (research and teaching), fellowships, scholarships
• Completion of intermediate microeconomic and macroeconomic theory prerequisite courses 
• Three academic reference letters
• Brief statement of personal academic goals

West Virginia University was founded in 1867 as a public land-grant research university. Today, the university enrolls over 5,700 graduate students in more than 350 programs throughout 14 colleges and high-quality schools.

This 45-credit PhD program trains students to conduct original research, produce publishable articles, analyze real-world problems from economists and policymakers, and effectively communicate their results. Doctorate students must choose a specialization in health, international, monetary, public, regional, or urban economics. Classes in economics have a small number of students to facilitate and encourage interaction between students and faculty.

• Program Length: 4 years
• Tuition and Fees: $899/credit (in state); $2,053/credit (out of state)
• PhD Funding Opportunities: Graduate assistantships, Arlen G. and Louise Stone Swiger Doctoral Fellowship, W.E.B. Du Bois Fellowship, Provost Graduate Fellowship
• Minimum GRE score of, 300
• Completion of statistics, intermediate micro and macro theory, and calculus prerequisite courses

Can You Get a PhD in Economics Online?

Yes, you can get a PhD in economics online. Liberty University currently offers an online PhD in Public Policy with a concentration in Economic Policy. This program focuses on teaching students how to shape economic policy across legislation, communications, politics, education, and international relations. Grad school students can complete this online program in three years.

Best Online PhD Programs in Economics

How long does it take to get a phd in economics.

It takes five years on average to get a PhD in Economics. The first two years are usually spent completing core classes in economics, and by the third year, students prepare for exams in their specialization field of choice. The final two years are for research and writing a dissertation.

Some students are able to complete their PhD program in less time. Others take up to seven years to finish their degrees, especially if they don’t already have a master’s degree in the field, or are taking courses part-time.

Is a PhD in Economics Hard?

Yes, a PhD in Economics is a hard degree to obtain. However, at this level of education, regardless of the area of study you choose, all programs are hard to complete. Doctoral programs are intended for students who wish to become true experts in their field of choice.

Economics PhD programs are hard because extensive research and practical capabilities are required of candidates. Through a heavy course load, econ grad students are expected to work hard to develop their skills to the maximum and create publishable, high-quality work.

How Much Does It Cost to Get a PhD in Economics?

It costs an average of $19,314 per year to get a PhD in Economics , according to the National Center for Education Statistics. This value is an average of the graduate tuition required in all public and private institutions between 2018 and 2019. Tuition rates will vary by school, and private universities are often more expensive than public institutions.

How to Pay for a PhD in Economics: PhD Funding Options

PhD funding options that students can use to pay for a PhD in Economics include research and teaching assistantships, and many different fellowships and scholarships. These can either be provided directly by the university or by independent institutions and organizations.

Some of these include the Provost Graduate Fellowship, the Melvin Eggers Graduate Economics Scholarship for Doctoral Students, and the National Science Foundation Graduate Research Fellowship Program.

Best Online Master’s Degrees

[query_class_embed] online-*subject-masters-degrees

What Is the Difference Between an Economics Master’s Degree and PhD?

The main difference between an economics master’s degree and a PhD is that master’s degrees are more career-oriented, while PhDs are focused on research. Since many doctorate students wish to pursue academic careers and teach in high-quality schools, they opt for a PhD program that allows them to acquire expert-level knowledge through research and assistant teaching.

Other differences between these two programs include funding options for payment, as master’s degrees don’t have as many funding options as PhD programs do, as well as the time of completion and the difference in salary between economics master’s and PhD graduates.

Master’s vs PhD in Economics Job Outlook

Employment for both economics master’s and PhD graduates is expected to grow in the next 10 years. However, the growth percentage is much higher for certain economics jobs for those with a doctoral degree. For example, employment for budget analysts, a position that requires only a Master’s Degree in Economics, is projected to grow five percent from 2020 to 2030, which is slower than the average growth for all occupations.

On the other hand, employment for postsecondary teachers, who typically need to have a PhD in Economics, is expected to grow 12 percent in the next 10 years .

Difference in Salary for Economics Master’s vs PhD

Considering the differences mentioned above, there’s a significant difference in average salaries for economics master’s and PhD graduates. While a budget analyst makes around $84,240 on average per year, a postsecondary teacher makes $124,090 on average per year.

According to PayScale, the average salary of someone with a Master’s Degree in Economics is $82,000 per year , whereas the average salary of someone with a PhD in Economics is $110,000 per year .

Related Economics Degrees

[query_class_embed] https://careerkarma.com/blog/best-associate-degrees-in-economics/ https://careerkarma.com/blog/economics-bachelors-degrees/ https://careerkarma.com/blog/economics-masters-degrees/

Why You Should Get a PhD in Economics

You should get a PhD in Economics because it will allow you to learn many valuable quantitative and analytical skills in the field, improve how you communicate with peers and non-experts alike, learn from a wide variety of specializations, and put you on track for a career in research and academics.

Reasons for Getting a PhD in Economics

• Wide range of specializations. A PhD in Economics allows you to specialize in an area that interests you most, such as financial, labor, international, political, business, feminist, Keynesian, environmental, or development economics.
• Improve communication skills. Throughout your economics PhD program, you’ll be required to publish high-quality articles for peer review. This means that you’ll also be expected to learn how to communicate your findings to the common layman.
• Learn many relevant skills. Econ students learn skills that will allow them to work for several institutions. They’re able to evaluate and calculate risk, make predictions, develop and use mathematical models, and deeply understand market dynamics.
• Work in academia. Most PhD graduates desire to become professors themselves. A PhD in Economics allows students to work for all kinds of superior institutions and have a fulfilling career in research and academia.

Getting a PhD in Economics: Economics PhD Coursework

Getting a PhD in Economics begins with core economics PhD coursework. For most programs, these courses include micro and macroeconomics, econometrics, mathematics for economists, and research design and methodology.

Microeconomics

A microeconomics course teaches decision-making when it comes to allocating resources of production, exchange, and consumption. Students learn about consumer and producer theory, general equilibrium theory, game theory, and other key applied microeconomic topics.

Macroeconomics

Macroeconomics is the area of economics that studies the economy as a whole. It accounts for the total goods and services provided, economic growth, and total income and consumption. In this course, students learn about the different macroeconomic models and current trends in macroeconomic thought.

Econometrics

In an econometrics course, students learn about probability and statistics, random variables, and hypothesis-testing procedures. Students will also be able to apply mathematical formulations to create complex economic models.

Mathematics for Economists

This core course is important to review the mathematical techniques required in economics. Students consolidate their knowledge in calculus, matrixes, algebra, differential equations, and set theory.

Research Design and Methodology

This introductory course is fundamental to guide students through conducting relevant research in economics literature for their dissertation, article publications, seminars, and any other papers they’ll need to prepare.

Best Master’s Degrees

[query_class_embed] *subject-masters-degrees

How to Get a PhD in Economics: Doctoral Program Requirements

If you’re wondering how to get a PhD in Economics, the answer is pretty straightforward. To successfully complete an economics PhD program, students will have to complete all of the doctoral program requirements. These include successfully concluding core economics classes, establishing a program of study, passing the qualifying exam and candidacy examination, and defending a final dissertation.

Every PhD student will have to take a common set of core courses during their first year. These courses in micro and macroeconomics, econometrics, and mathematics provide students with basic training for conducting research in their field at advanced levels.

At the end of the first year, students will take their first-year exam to prove their competence in the core course and readiness to continue with the program. Passing these exams will allow students to choose their specialization courses for the second year.

Just before the beginning of the second year, students will work with an advisor to help them figure out the specialization courses best for them. They will also facilitate the process of finding a permanent advisor and creating a program of study for the rest of the degree program.

Candidacy examinations, or field course exams, are tests that prove a student’s knowledge in the specialized fields in which they wish to pursue their dissertation research. Upon passing these examinations, students are then recognized as PhD candidates.

By the end of the fifth year, most students have already completed their research and are ready to present and defend their theses. Students defend their dissertation in a final oral examination. Upon passing the defense, students must submit a final copy of their dissertation.

Potential Careers With an Economics Degree

[query_class_embed] how-to-become-a-*profession

PhD in Economics Salary and Job Outlook

Getting a PhD in Economics will grant you career stability and financial security. Career prospects in the economics field are great, as employment in these jobs is projected to grow faster than average. Continue reading for a list of some of the best PhD in Economics jobs available to graduates and an overview of their annual salaries.

What Can You Do With a PhD in Economics?

With a PhD in Economics, you can apply to many high-paying jobs in the field. These jobs can include financial manager, postsecondary economics teacher, economist, personal financial advisor, or even urban and regional planner roles.

Best Jobs with a PhD in Economics

• Financial Manager
• Postsecondary Economics Teacher
• Personal Financial Advisor
• Urban and Regional Planner

What Is the Average Salary for a PhD in Economics?

The average salary for someone with a PhD in Economics is $110,000 per year , according to PayScale. This value varies depending on the career path you choose, the company you work for, or even the industry you base your work in.

Highest-Paying Economics Jobs for PhD Grads

Best economics jobs with a doctorate.

In this section, we’ll cover the best economics jobs you can get with a doctoral degree. They include financial managers, postsecondary teachers, and economists. Other high-paying jobs include personal financial advisors and urban and regional planners.

Financial managers are responsible for the financial standing of a company or organization. They coordinate accounting and investing, create financial reports, and develop long-term financial goals for their company. They must have knowledge of the tax laws and regulations specific to their industry.

• Salary with an Economics PhD: $153,460
• Job Outlook: 17% job growth from 2020 to 2030
• Number of Jobs: 681,700
• Highest-Paying States: New York, Delaware, and New Jersey

Many economics PhD students are interested in teaching in postsecondary academic institutions. After being hired, these professors are placed in the school’s department of economics where they can conduct research and teach one or more courses in the field.

• Salary with an Economics PhD: $124,090
• Job Outlook: 12% job growth from 2020 to 2030
• Number of Jobs: 1,276,900
• Highest-Paying States: New Hampshire, Montana, and California

Economists apply their knowledge and skills in economic analysis within a great variety of fields. They study the cost of products, examine employment, taxes, and inflation levels, and analyze economic history trends to make predictions for the future.

• Salary with an Economics PhD: $120,830
• Job Outlook: 13% job growth from 2020 to 2030
• Number of Jobs: 18,600
• Highest-Paying States: New York, Washington DC, and California

Personal financial advisors advise clients on investments, insurance, mortgages, taxes, and other areas related to financial investment and management. They work to assess a client’s needs and help them make the best financial decisions for their future.

• Salary with an Economics PhD: $119,960
• Job Outlook: 5% job growth from 2020 to 2030
• Number of Jobs: 275,200
• Highest-Paying States: New York, Washington DC, and Washington

Urban and regional planners gather and analyze information regarding economic, population, and environmental factors to advise developers on their plans to use land. Using their analytical and data skills, they eventually have the final say on whether a land project is feasible.

• Salary with an Economics PhD: $81,310
• Job Outlook: 7% job growth from 2020 to 2030
• Number of Jobs: 39,100
• Highest-Paying States: Washington DC, California, and New York

Is a PhD in Economics Worth It?

Yes, a PhD in Economics is worth it. Getting an economics PhD is a great way to gain valuable skills for the econ job market, work on your overall communication, and guarantee financial security and stability over the course of your career.

Economics PhD graduates can choose between conducting research and teaching in superior institutions, prestigious government positions, and continuous work at some of the highest-paying private institutions.

Additional Reading About Economics

[query_class_embed] https://careerkarma.com/blog/online-college-economics-courses/ https://careerkarma.com/blog/best-companies-for-economists/ https://careerkarma.com/blog/best-online-economics-masters-degrees/

PhD in Economics FAQ

Some of the top companies that are hiring economists in 2022 include RAND, the Federal Reserve Bank of New York, and the World Bank. Fannie Mae, the IMF, and Amazon are also top companies looking for economists.

Yes, you are expected to teach or somehow be involved in classroom experiences during your PhD program. Most students receive financial funding through teaching assistantships. These are viewed as an important component of the PhD college career.

You’ll need to have some kind of mathematics background to be admitted to an economics PhD program. All candidates must have taken intensive math classes and need proven math ability in calculus, linear algebra, and differential equations.

No, you don’t need an econ master’s degree to enroll in an economics PhD. However, only a small number of applicants are accepted into these programs and a master’s degree could be considered a competitive edge.

About us: Career Karma is a platform designed to help job seekers find, research, and connect with job training programs to advance their careers. Learn about the CK publication .

What's Next?

Get matched with top bootcamps

Ask a question to our community, take our careers quiz.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

• Utility Menu

44d3fa3df9f06a3117ed3d2ad6c71ecc

• Administration
• PhD Program

The Ph.D. Program in the Department of Economics at Harvard is addressed to students of high promise who wish to prepare themselves in teaching and research in academia or for responsible positions in government, research organizations, or business enterprises. Students are expected to devote themselves full-time to their programs of study.

The program prepares students for productive and stimulating careers as economists. Courses and seminars offered by the department foster an intellectually active and stimulating environment. Each week, the department sponsors more than 15 different seminars on such topics as environmental economics, economic growth and development, monetary and fiscal policy, international economics, industrial organization, law and economics, behavioral economics, labor economics, and economic history. Top scholars from both domestic and international communities are often invited speakers at the seminars.  The Harvard community outside of the department functions as a strong and diverse resource. Students in the department are free to pursue research interests with scholars throughout the University. Faculty of the Harvard Law School, Kennedy School of Government, and Harvard Business School, for example, are available to students for consultation, instruction, and research guidance. As a member of the Harvard community, students in the department can register for courses in the various schools and have access to the enormous library resources available through the University. There are over 90 separate library units at Harvard, with the total collections of books and pamphlets numbering over 13 million.  Both the department and the wider University draw some of the brightest students from around the world, which makes for a student body that is culturally diverse and likely unequaled in the range of intellectual interests of its members. These factors combine to add an important dimension to the educational process. Students are able to learn from one another, collaborate on research projects and publications, and form bonds that are not broken by distance once the degree is completed and professional responsibilities lead them in different directions.

• Program Requirements
• Job Placement
• Financial Support

• Search This Site All UCSD Sites Faculty/Staff Search Term
• Chair's Message
• Commitment to Diversity
• Department History
• Press Contact
• Economics Roundtable
• Conferences
• Career Workshops
• Faculty Profiles
• Research Groups
• Research Centers
• Faculty Recruitment
• Faculty Resources
• Faculty Recognition
• In Memoriam
• Graduate Advising
• Current Students
• Prospective Students
• Resources for Current Students
• Majors & Minors
• About the Undergraduate Program
• Prospective Student Info
• Hire A Triton
• Stay Connected
• Undergraduate Program
• How to Prepare for a Ph.D. in Economics

First Steps

• How to prepare for a PhD in Economics
• The key thing you need to know is that PhD programs in economics are highly mathematical and the mathematics required by both our Economics and Management Science degrees is not enough to get you into a top PhD program. To be a competitive applicant, you will need to take some upper division mathematics classes such as how to write proofs (Math 109), linear algebra (Math 102), real analysis (Math 140A or 142AB), probability (Math 180A) and statistics (Math 181AB).  See more below.
• Graduate schools care a lot about the difficulty and content of the classes you’ve taken. Getting a high GPA won’t necessarily get you into a good program unless they are the right classes.
• If you want to get into a top PhD program, it is especially important to take real analysis (Math 142AB or Math 140ABC—likely Math 140A is enough) and do well in the class. Real analysis teaches you how to write and understand proofs.  These skills will be important to your success in first-year graduate courses as well as in your research career.  Since real analysis tends to be a difficult course everywhere, your grade in this course is often taken as a key signal of your ability to succeed in a PhD program by admissions committees. If possible, try to take this course when you don’t have a lot of other commitments so that you can devote a significant amount of time to this course, learn the material well and get a good grade.
• Other upper division mathematics and statistics courses are also helpful. In particular, understanding linear algebra is important in graduate-level econometrics courses. Therefore, taking Math 18 and Math 102 (lower and upper division linear algebra courses) can give you a strong foundation in these topics.
• It is also important to have a strong foundation in statistics and probability theory. You will learn a lot of this in the econometrics sequence (if you are interested in pursuing graduate school, you should consider taking the honors classes 120AH-BH-CH). Another class to add to your statistics foundation would be a course in probability (Math 180A).
• In general, if you are interested in going to graduate school in Economics, you should seriously consider majoring in Joint Mathematics-Economics. This major will undoubtedly increase your workload, but it will both make you a more attractive applicant for graduate school and give you the mathematical foundation needed to succeed in graduate school. Students who took many math classes in while in high school should consider double majoring in math and economics.
• If you have exhausted your undergraduate opportunities to take classes in math and economics, consider taking a graduate class. Taking graduate courses in economics or mathematics can send a strong signal to admissions committees. This can be slightly risky, however. Undergraduates may be at a disadvantage as graduate students tend to form study groups for first year courses. If you decide to take a graduate course, you should plan on devoting A LOT of time to the course.  Again, it is extremely important that you to do well in a graduate class.
• Coding is an essential skill to have in graduate school. Therefore, taking courses with a data analysis and coding component (for example, Econ5/Poli5D: Introduction to Social Data Analytics, Econ 112: Macro Data Analysis and Econ 121: Applied Econometrics) can help develop your coding skills. The most popular statistical packages in economics are STATA, R, and MATLAB. If you have the time, it may also be a good idea to take an introduction to programming course from the computer science department.
• Courses that have a research component (Econ 191A-B and Econ 199) will also be invaluable preparation for graduate school. By developing your own research topic, you can learn about each step of the research process: from topic selection, background research, data management all the way to analysis and writing. Selecting an empirical topic is especially encouraged as it will give you valuable experience cleaning and analyzing data and getting more comfortable with various data analysis software. This might also be a good indication of whether a career in research is a good fit for you personally. Finally, the Professor teaching Econ 191AB will get to know you and how you tackle problems very well and so be able to write the kind of informed letter of recommendation that graduate schools like to see.

To summarize, in order to prepare for graduate school, it is extremely important to take the right courses and do well in them. To be competitive, you will need to have a record of performing well in difficult mathematics and economics courses.  

• Why earn a PhD in Economics?
• Talking to a UCSD grad: ECONnected

Requirements for the PhD. in Economics

The Requirements for the Ph.D. degree in Economics at the University of North Carolina at Chapel Hill, effective for the entering class of 2020, consist of successfully completing:

• Course Requirements
• Doctoral Written Examination
• Doctoral Dissertation

This document describes each of these requirements in detail.

1. Course Requirements

A doctoral candidate must complete 16 Ph.D.-level courses, at least two (2) semesters of the “Dissertation Workshop” related to their Field, at least one (1) semester of the “Dissertation Completion Seminar”. The two (2) semesters of the “Dissertation Workshop” count as one of the 16 Ph.D.-level courses to be completed. [1] At least 13 of the 16 courses must be from the Economics Department unless the student’s field of specialization specifically requires additional courses from other units or the student has permission from the faculty in the field. [2] All field courses must be approved both by faculty of the relevant field and the Director of Graduate Studies (DGS). By graduate school rules, a student becomes academically ineligible to continue in the program if a student receives a grade of F, F*, XF, or nine or more hours of L in the above-mentioned courses. Academically ineligible means that the student is out of the Ph.D. program. “Out of the Ph.D. program” is the wording we will use to denote this state in the rest of the document. [3]

1.1 Courses in the Fundamentals of Economics

The courses that provide the fundamentals of economics are:

• ECON 700 and 701: Quantitative Methods
• ECON 710 and 711: Graduate Microeconomics
• ECON 720 and 721: Graduate Macroeconomics
• ECON 770 and 771: Graduate Econometrics

ECON 700 is a daily math camp offered in the first three weeks of August, and counts as a standard core course (3 credit hours).

1.2 Courses in the Fields of Specialization

Each student selects a field of specialization.

At least three (3) courses in the field of specialization are required. Current examples of field of specialization courses are available on the webpage  Field Specialization Requirements. Notice that these are only examples and new fields of specialization can be created by students under the supervision of a faculty member. The new field of specialization and the related three courses should be approved by the DGS. Examples of fields of specialization are:

• Econometrics
• Financial Econometrics
• Health Economics
• Industrial Organization
• International/Macroeconomics
• Labor Economics
• Microeconomic Theory

1.3 Courses in Supporting Fields

Supporting courses are chosen by the student in consultation with the DGS and other faculty. The supporting courses may be within the specialized field or in other areas.

1.4 Additional Course Requirements

Students are required to take at least two (2) semesters of the “Dissertation Workshop” related to their Field. Dissertation Workshops are typically taken starting in the third year of the Ph.D. program. In addition, students on the job market are required to take at least one (1) semester of the “Dissertation Completion Seminar”. The Seminar is taken in fall of the final graduation year, typically the fifth or sixth year of the Ph.D. program.

1.5 How to satisfy the 16-course requirement

In general, courses offered in the Ph.D. program in the department or approved by the DGS and taken in other departments or schools count toward satisfying the 16-course requirement. But there are the following exceptions:

• The “Dissertation Workshop” (ECON 920, 970, 985, 990) counts only ONCE even if you enroll for multiple semesters. Specifically, two (2) semesters of the “Dissertation Workshop” count as one of the 16 Ph.D.-level courses to be completed;
• The “Seminar in Teaching Methods” (ECON 805 and 806) does NOT count;
• The newly introduced workshop “Dissertation Completion Seminar” does NOT count.

2. Doctoral Written Examination

  Students must pass written qualifying examinations in econometrics, macroeconomics, and microeconomics. Students must also pass the field paper requirement. Passing the qualifying examinations and the field paper satisfies the Graduate School requirement for the doctoral written examination.

2.1 Qualifying Examination requirement

All students who have successfully completed the eight (8) courses in the Fundamentals of Economics described in Section 1.1 are required to take qualifying examinations in econometrics, macroeconomics, and microeconomics. These examinations are administered around the first week of June, are three hours each and are meant to test if the core knowledge necessary to successfully proceed in the program has been acquired by the student. Exact dates will be communicated in advance by the DGS. The qualifying examinations requirement is satisfied by accomplishing the following:

• Out of the three (3) possible grades {P, L, F} (where P>L>F), obtain at least two (2) P and one (1) L over the three exams.

The exams are prepared and graded by a qualifying examinations committee nominated by the Chair and chaired by the DGS. The grades for all three exams are communicated jointly at the end of the grading process. If a student does not satisfy the criteria on the first attempt, another attempt is offered around the end of August. Exact dates will be communicated in advance by the DGS. On the second attempt, the student is required to retake the exams graded with an F and may decide to retake the exams graded with an L. For example, if a student accomplishes {P, L, F} on the first attempt, he has to retake the F and may decide to retake the L or not. As another example, if a student accomplishes {P, L, L} on the first attempt, she has to retake at least one of the two L’s but she is free to decide which one. She may also decide to retake both to diversify risk.

If a student does not satisfy the criteria on the second attempt, a third attempt is offered the following year at the same time and with the same exams administered to the new first-year Ph.D. students. The same criteria described for the second attempt apply to the third attempt. If a student does not satisfy the criteria by the third attempt, no additional chance to pass the requirement is offered and the student is out of the Ph.D. program. [4]

2.2. Field Paper requirement

The field paper requirement is satisfied by accomplishing the following steps:

• Identify a possible advisor for the field paper. The deadline to identify a possible advisor is June 1 of the summer between the second and third year of the Ph.D. program.
• Complete a first draft of the paper. The first draft of the paper is not a complete paper but a draft that states clearly motivation, objective and methodology. It also needs to demonstrate the student’s understanding of the relevant tools and literature in the field. The deadline to complete the first draft is the first week of classes of the third year Fall semester. During preparation of the draft, the student is expected to be in regular contact with the advisor and the advisor is expected to be responsive to the student.
• Complete the final draft of the paper. The final draft of the paper is a self-contained draft that accomplishes a specific objective and implements a specific methodology. It does not need to be polished at the level of a paper ready for publication but it should constitute a substantial building block for a research paper and/or a dissertation chapter. The deadline to complete the final draft is the last day of examination week of the third year Fall semester. During preparation of the draft, the student is expected to be in regular contact with the advisor and the advisor is expected to be responsive to the student.

The Field Paper committee is composed of the advisor chosen in step 1 plus two (2) additional faculty members. The advisor will also be the faculty of reference to enroll in ECON 994 ‘Doctoral Research and Dissertation’, which is required for all Ph.D. students after two years in the program. The field paper committee decides if the field paper requirements are satisfied. If the field paper committee decides that the final draft of the paper is not satisfactory, the student fails the requirement and has the possibility to resubmit a final draft. The deadline for resubmission is the last day of examination week of the third year Spring semester. If the resubmission is not approved by the committee, the student is officially out of the Ph.D. program. The Field Paper committee decisions are shared with the DGS and the student in a timely manner.

3. Doctoral Dissertation

The Doctoral Dissertation requirement is satisfied by accomplishing the following steps:

• The  doctoral oral examination , or preliminary oral examination, consists of an evaluation of the thesis prospectus. The thesis prospectus (i.e. dissertation proposal) is discussed in front of the Dissertation committee. The student must successfully complete their prospectus by the end of the fourth year in the PhD program. If the student does not meet this deadline, to remain in good standing in the program they must submit a letter to the DGS that describes the current state of their research and a plan for timely completion of their prospectus. In this case, one faculty advisor must sign-off on the student’s research plan. If the student does not complete the prospectus by the end of the fifth year, they must exit the PhD program. If the student was unable to complete the prospectus by the end of the fifth year due to extraordinary personal or academic circumstances, they may petition to remain in the program by submitting an updated research overview and plan, signed by a faculty advisor. Students who defend their prospectus after the end of the fourth year must allow for one calendar year between the prospectus defense and graduation dates; research plans should directly acknowledge this requirement.
• The doctoral dissertation . Students work closely with members of the Dissertation committee in developing their dissertation. Consult the  Graduate School Guide to Theses and Dissertations for additional information and style requirements. Doctoral dissertations are usually completed at the end of the fifth or sixth year in the program. Overall, a student has eight (8) calendar years from the date of first registration in the doctoral program to complete the doctoral degree. [5]
• The final oral examination, or final oral defense of the dissertation, consists of a discussion of the final dissertation in front of the Dissertation committee. The deadline for the defense with respect to graduation dates is provided by the graduate school here . At the same webpage, the Graduate School also provides additional instructions for filing for graduation.

The Dissertation committee is composed by five (5) faculty members. One of the five members is the advisor. Occasionally two faculty members may act as co-advisors. One of the five faculty members may be a scholar from outside the department or the university. If students do not pass step 1 or step 3, they have the possibility of one (1) retake at a time jointly agreed upon with the dissertation committee. If the retake is also not approved by the committee, the student is officially out of the Ph.D. program.

4. Additional Remarks

The requirements described in this document are consistent with the Graduate School requirements for a Ph.D. that can be found in the Graduate School Handbook and the Graduate Catalog . We invite students to be familiar with these requirements. In addition, students should also be aware of the general University Campus Policies , the University Policies for Research , and the Graduate School Policies on Academic Integrity and Ethics .

The expression “out of the Ph.D.” program used in the text refers to a student who cannot continue in the Ph.D. program. However, these students can appeal to be reinstated in the graduate program in order to obtain a Master’s degree. Requirements to obtain a Master’s degree are here .

[1] Additional enrollments in the workshop are expected throughout the time that a student is writing the dissertation.

[2] Credits transfer one to one from other units from outside the department. For example, a half credits/half semester course in the Economics Department at Duke transfers as half credits/half semester course at UNC.

[3] When special circumstances warrant, a student made academically ineligible under the conditions stated above may be reinstated in The Graduate School upon petition initiated through the student’s academic program. In our program, this typically means that the student can be reinstated in order to complete a terminal Master degree.

[4] A student out of the PhD program can petition to be reinstated in order to obtain a Master’s of Science in Economics. Please see here for requirements about the Master’s program.

[5] Under extenuating circumstances, a student in good academic standing may be warranted a one-year extension of the degree time limit. Please see the specific Graduate School policy available here for additional details.

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.

PhD in Economics

PhD students take 16 courses, roughly half of which are spent acquiring the core analytic tools of the profession (microeconomics, macroeconomics, and quantitative methods), with the balance spent applying those tools in particular fields of specialization. All PhD students must complete a doctoral dissertation (thesis).

The PhD in Economics is a STEM designated degree program.

View the complete PhD Rules here

Program Requirements

Doctoral students must complete a minimum of 16 semester courses (64 credits). They are required to successfully complete the core courses by the end of the first year.

Theory and Quantitative Core Requirements

These core courses must be passed by the end of the first year with a grade of at least B- in each course.

• EC 701 Advanced Microeconomics I (4 credits)
• EC 702 Advanced Macroeconomics I (4 credits)
• EC 703 Advanced Microeconomics II (4 credits)
• EC 704 Advanced Macroeconomics II (4 credits)
• EC 707 Advanced Statistics for Economists (4 credits)
• EC 708 Advanced Econometrics I (4 credits)

Students must also take EC 705 Mathematical Economics in the first semester, unless a waiver is granted, and EC 709 Advanced Econometrics II (4 credits) in the third semester.

In addition, students must pass a qualifying examination in both microeconomics and macroeconomics. Students have at most three opportunities to take the qualifying examinations; failing may result in termination from the PhD program.

Field Requirements

All students must pass 2 2-course fields, each with a minimum grade average of B.

In addition, students must take at least 2 other courses. The following fields are generally offered each year:

• Development
• Econometrics
• Economic Theory
• Empirical Finance
• Financial Econometrics
• Industrial Organization
• International Economics
• Labor Economics
• Money/Macroeconomics
• Public Economics

GPA Requirements

All courses must be passed with a grade of B– or higher. An overall grade point average (GPA) of 3.0 must be attained in all courses taken after enrollment in the Graduate School of Arts & Sciences.

Time Requirement

The PhD program is designed so that a typical student can complete all requirements within 5 to 6 years. International students may be subject to additional restrictions imposed by the terms of their visas, as governed by the International Students & Scholars Office (ISSO).

Students are expected to meet the following milestones each year:

By the end of the 1st year:

• Finish and pass all core first-year courses, as well as EC 705 (unless exempted through placement exam).
• Sit for the first attempt at the micro and macro qualifying exams in June. The second attempt, if necessary, is in August.

By the end of the 2nd year:

• Pass EC 709, a required course in Advanced Econometrics.
• Continue and, if possible, complete remaining coursework, including a two-course sequence in each of two fields. A B average (3.0) is required in each of the field course sequence.
• Achieve an overall GPA of at least 3.0.
• If both qualifiers are not passed, the third and final attempt is in June of the second year.
• Each student must prepare a research paper during the second year and the following summer. By April 1 of the second year, the student must ask a faculty member to serve as an advisor on this paper; have this faculty member agree to serve in this manner; and inform the DGS of the topic of the paper and the advisor’s name. The paper is due in the third year as described below.

By the end of the 3rd year:

• Submit the second-year paper by October 1. By October 15, the faculty advisor must provide (i) a grade for the paper; and (ii) a brief written evaluation the paper. These documents will be sent to the DGS and the student. A student must receive a passing grade on the research paper.
• Complete all coursework with GPA of at least 3.0.
• Continue work on research for the dissertation.
• Attend and present at least annually in one of the research workshops until completion of all degree requirements.

Years 4, 5, and (if necessary) 6:

• Student carries out thesis research, defending the thesis no later than the end of the sixth year.

Dissertation

Under the supervision of two faculty advisers, a student prepares a dissertation proposal for presentation at a proposal seminar. If the proposal is approved, the student proceeds to research and write the dissertation. When the dissertation is completed, the student must defend it at a final oral examination. The Graduate School of Arts & Sciences requires that the dissertation be completed within seven years of initial enrollment in the program.

For more details, view the complete PhD Rules here and check out our past PhD Placements here .

Jump to navigation

Search form

• History of Women Faculty in Economics
• Chairs & Managers
• Research Centers
• Publications
• Year-end letter: Berkeley Economics
• Faculty Profiles
• In Memoriam
• Graduate Program
• Current Students
• Graduate Profiles
• 2023-2024 Job Market Candidates
• 2023-2024 Ph.D. Job Market Infopage

Undergraduate Program

• Course Enrollment
• Prospective Majors
• Current Majors
• Student Organizations
• Commencement
• Course List
• This Week's Seminars
• Next Week's Seminars
• Spring 2024 Economics Classes
• Summer 2024 Economics Classes
• Charter Hill Society for Economics
• Submit a note
• Alumni Notes

Preparing for a PhD in Economics

The minimum requirements of the Economics undergraduate major are not designed to be training for doctoral economics programs. Students who plan to continue their education should take more quantitative courses than the minimum required for the major. Preparation should start early in your undergraduate education. In addition to the information below, we recommend visiting the Career Center and the Career Library for additional graduate school planning resources.

Students who plan on going on to graduate school should participate in research as an undergraduate, and plan on writing an honors thesis during their senior year. NOTE: For students who completed P/NP courses in 2020-2021, we recommend reviewing this statement from the Council of Deans which reaffirms UC Berkeley's Graduate Division committment to a holistic review.

Course recommendations

• Math 53 and Math 54 (multivariable calculus and linear algebra)
• Economics 101A-B, the quantitative theory sequence
• Economics 141, the more quantitative econometrics course
• Additional math and statistics courses (linear algebra, real analysis, probability, etc.)
• Additional economics courses that emphasize theory and quantitative methods, such as Economics 103, 104, and 142.

Upper-division math and statistics courses for those who are adequately prepared (in order of importance)

• Math 110, Linear Algebra
• Math 104, Introduction to Analysis
• Stat 134, Concepts of Probability
• Stat 150, Stochastic Processes
• Math 105, Second Course of Analysis
• Math 170, Mathematical Methods of Optimization
• Stat 102/Stat 135, Linear modeling Theory and Applications
• Stat 151A, Statistical Inference
• Math 185, Introduction to Complex Analysis

Graduate math and statistics courses for those who are adequately prepared (in order of importance)

• Math 202A/202B, Introduction to Topology
• Stat 200A/200B,Introduciton to Probability and Statistics at an Advanced Level; graduate version of 101/102 sequence, not much more difficult, but harder than 134/135
• Stat 205A/205B,Probability Theory; graduate probability, much higher level than 200A/200B

Please note: This is just a recommendation; not all courses are required. Admissions requirements vary by university and by program. Students interested in pursuing graduate school should begin gathering information from prospective programs as early as possible.

Post-Baccalaureate Research Opportunities

Pursuing research after completing an undegraduate degree is a great option for students who would like to gain more experience prior to graduate school. Post-baccalaureate research opportunities can be found through the  National Bureau of Economic Research (NBER)  and PREDOC: Pathways to Research and Doctoral Careers . For research opportunities outside of the NBER,  click here  and  follow @econ_ra  on Twitter.

Graduate School Preparation Additional Resources

http://www.aeaweb.org/resources/students/grad-prep/considerations/  (Considerations for prospective graduate students in Economics)

https://www.aeaweb.org/resources/students/schools/  (Alphabetical list of U.S Graduate Programs in Economics)

https://www.aeaweb.org/about-aea/committees/cswep/programs/resources/events2  (Conferences, events and fellowships through the American Economic Association)

https://www.aeaweb.org/about-aea/committees/aeasp (American Economic Association Summer Training Program, AEASP)

Economics, Doctor of Philosophy (Ph.D.)

The Department of Economics at the University of Maryland prepares graduate students for careers in teaching, research, and government service. The course of study provides a solid foundation in economic theory, econometrics and applied fields. The Ph.D. requires:

• completion of a three-course sequence and a written examination or field paper in a major field,
• completion of a two-course sequence in a minor field,
• completion of an econometrics sequence,
• an additional supporting course in a theoretical or applied field, and
• a dissertation.

In the third year, students begin directed research by participating in workshops appropriate to their dissertation research.

Advance to Candidacy: In addition to the course requirements below, students must successfully pass two written comprehensive examinations in microeconomic and macroeconomic theory, taken during the summer after the first year of study.

Post-Candidacy: Students must complete at least 12 credits of ECON899 Doctoral Dissertation Research and successfully defend and submit an original dissertation.

Average grade of B+ or better

Grade of B- or better

 Credits may vary

Print Options

Print this page.

The PDF will include all information unique to this page.

The Ph.D. Program in Economics emphasizes analytical and quantitative skills and exposes students to a broad range of contemporary policy issues to prepare them for careers in academic, business, or government careers. In their first two semesters of study, students receive rigorous training in three core areas: microeconomics, macroeconomics and econometrics.

After completing the core sequences, students choose three fields of specialization for intensive study. For most students, work on the dissertation begins in the third year and occupies them through the fourth or fifth year of residence.

STEM Designation Our PhD program has recently been reclassified as STEM (CIP Code 45.0603: Econometrics and Quantitative Economics). Students in STEM degree programs can apply for a 24 month STEM extension of F1 Optional Practical Training (OPT).

For more information or questions regarding the PhD program – e-mail us.

DO NOT E-MAIL FACULTY MEMBERS DIRECTLY. THEY WILL NOT RESPOND TO YOUR REQUESTS. Please submit ALL your inquiries to the e-mail link above.

Core Courses

The core courses form an integrated sequence of courses that develop the theoretical and quantitative tools students will build on later in their careers. These courses include two semesters of microeconomics, macroeconomics, and econometrics.

An undergraduate major in economics is not a requirement, but students are expected to have taken some economics courses, including at least intermediate theory courses. Students should also have a solid background in mathematics. The recommended math courses are calculus, linear algebra, and mathematical statistics, but more math is generally considered an advantage. A master’s degree is not required for admission to the Ph.D. program, nor for completing the Ph.D. degree.

Field Courses

After a highly structured first two semesters, students have more choice as they select three areas of specialization. The field courses are intended to broaden and deepen the students’ understanding of economics and to encourage students to develop more specific interests. The fields and their associated courses include:

• Advanced Theory/Special Topics: ECON 689
• Behavioral and Experimental Economics: ECON 655, ECON 656, ECON 659
• Econometrics: ECMT 677, ECMT 678, ECMT 679
• Labor Economics: ECON 609, ECON 610
• Industrial Organization: ECON 649, ECON 650
• International Economics: ECON 651, ECON 652
• Advanced Macroeconomics: ECON 635, ECON 637, ECMT 638
• Public Economics: ECON 603, ECON 604

Sample Five Year Program

First semester.

ECMT 675 – Econometrics I ECON 629 – Microeconomic Theory I ECON 636 – Macroeconomic Theory I

Second Semester

ECMT 676 – Econometrics II ECON 630 – Microeconomic Theory II ECON 646 – Macroeconomic Theory II Qualifying Exams

Second Year

Two or Three Field Courses – (Part 1)

Two or Three Field Courses – (Part 2) Field Presentation/Proposal

Any remaining Field Course – (Part 1) ECON 690 – Theory of Research / Workshop ECON 691 – Research Submit Degree Plan and Advisory Committee

Field Course – (Part 2) ECON 690 – Theory of Research/Workshop ECON 691 – Research Research Paper Presentation (3rd Years)

Fourth Year

ECON 690 – Theory of Research/Workshop ECON 691 – Research Preliminary Oral Defense File Dissertation Proposal Approval Page

ECON 690 – Theory of Research/Workshop ECON 691 – Research Research Paper Presentation (4th Year)

ECON 690 – Theory of Research/Workshop ECON 691 – Research Job Market Ready

ECON 690 – Theory of Research/Workshop ECON 691 – Research Final Defense (Oral) Final Dissertation Submitted

Steps to Fulfill Doctorate Degree Requirements

There are many steps that each student need to complete in order to graduate with a PhD. Many of these steps require the student filling out paperwork and getting necessary approvals (some require months of lead time). To see all of the steps and access links to download necessary forms, please  CLICK HERE

Beginning in the third year and extending through the fifth year of residence, students participate in departmental workshops. Workshops are commonly offered in theory, macro, money, international, applied micro, and econometrics. The workshops are designed to acquaint students with research methodology and to provide opportunities for them to present their own research.

Department Qualifying Exams and Field Exams

Students must pass qualifying examinations in microeconomic theory, macroeconomic theory, and econometrics following completion of the core sequences. The exams are given in late May and late July or early August. Students must also pass examinations in one field of specialization following completion of the appropriate field sequences. The field exams are given in January and May. Please consult the Graduate Catalog for additional requirements by the Office of Graduate Studies for the Ph.D. degree. You may find this in the Graduate Handbook on the web site  ogs.tamu.edu .

Dissertation

Students normally begin research on their dissertations in their third year. The dissertation is intended as a demonstration of the student’s ability to perform original research.

Teaching & Research

In their first and second years of Ph.D. study, students receiving financial support are normally assigned as research assistants to faculty members to aid them in teaching and research activities.

In their third and fourth years, students may become teaching assistants and have the opportunity to instruct undergraduates at Texas A&M. Both types of assistantships are viewed as integral parts of the educational process, preparing students for careers in teaching and research.

Funding Opportunities

Gail frey monson memorial scholarship.

The Monson Memorial Scholarship provides a one-time stipend ( typically $500 ) to a fourth-year female Ph.D. student in the Department of Economics. Applicants must be full time graduate students in good standing in the Department of Economics, have been admitted to Ph.D. candidacy, and demonstrate good citizenship in the department. Assessment criteria also include quality of research. Applicants must submit the following materials to the Scholarship Committee: (a) a cover letter, (b) a copy of her CV, (c) a copy of her dissertation proposal, and (d) a letter from her main advisor concerning the student’s eligibility and qualification for the award. Deadline to apply is April 15 of the applicants’ 4th year. 

S. Charles Maurice Graduate Fellowship in Economics

This fellowship is established by a generous gift from Niccie L. McKay, wife of late Professor S. Charles Maurice. This scholarship ( typically $2,500 ) is awarded to a 4th year Ph.D. student in Economics.  Applicants must be full time graduate students in good standing in the Department of Economics, and will be assessed based on evidence of independent scholarship and promising research leading to a high quality dissertation. Applicants must submit the following materials to the Scholarship Committee: (a) a cover letter, (b) a copy of their CV, (c) a copy of their dissertation proposal, and (d) a letter from their main advisor concerning the student’s eligibility and qualification for the award by April 15 of the applicants’ 4th year.

• Washington State University
• I Want to Give
• Economics Degrees
• Advising Sheets
• Online B.S. Economics
• Academic Advising
• Transfer Information
• Scholarships & Internship Opportunities
• Econ Lab - Tutoring
• Pre-Master Program
• Math Refresher
• Courses and Learning Objectives
• Benefits of our Masters program
• MSE Courses
• PhD-bound option
• Frequently Asked Questions
• PhD Courses
• Graduate Assistantships
• PhD Field Requirements
• Job Market Guide
• Job Placement
• Graduate Student Resources
• School of Economic Sciences Graduate Student Association
• Research Guidelines
• PhD-Students
• MS Students
• Working Paper Series
• Community and Regional Economics
• Health Economics
• Specialty Crops Economics
• Wheat & Small Grains
• Livestock Economics
• Tree Fruit Economics
• Environmental & Natural Resources
• Crop Enterprise Budgets
• Michael Brady
• Randy Fortenbery
• Karina Gallardo
• Bidisha Mandal
• Shannon Neibergs
• IMPACT Center
• Publications
• Freight Policy Transportation Institute
• Freight Data Warehouse
• Our Mission
• Research Project Videos
• Friday’s SES Seminar Series
• Student Seminar Series
• Leigh Lecture
• Alumni & Friends Banquet & Auction
• Active Shooter Resources
• History of the School of Economic Sciences
• Living in Pullman

Welcome to the School of Economic Sciences PhD Programs

Phd programs in economics and agricultural economics.

The School of Economic Sciences offers two doctoral programs: the PhD in Economics and the PhD in Agricultural Economics.

• The PhD in Economics is designed to prepare students for careers as professional economists in academia, government, and the private sector. The program is structured so that a student with a Bachelor of Arts degree in Economics and an appointment as a graduate assistant should be able to complete the required coursework within three academic years, excluding summer sessions. Students with a Master of Science in Applied Economics degree may be able to complete the required coursework in less time, depending on the content and quality of previous work. The length of time required to complete the dissertation varies greatly but students usually complete the entire program, including the dissertation within four years.
• The PhD in Agricultural Economics is designed to provide the student with an excellent foundation in the theory and methods of economic analysis as well as experience in applied analysis of agricultural, agribusiness, and/or resource economics problems. Career opportunities for agricultural economists also include academia, government, and the private sector. Many academic positions (especially at land grant universities) include salary support for a combination of teaching, research, and/or outreach related to the food and fiber sectors and the natural resource base that supports them. The time required to complete the doctoral degree in agricultural economics is comparable to that required for the economics PhD.

We next list key features of our PhD programs.

Student publications . The collaboration between students and professors is close, our offices are often next to each other, and it is common for professors to coauthor papers with PhD students, which turn into journal publications. In the last years, coauthored papers with our students were published in journals such as  Science, Economic Inquiry, BE Journal of Macroeconomics, Canadian Journal of Economics, Journal of Environmental Economics and Management, American Journal of Agricultural Economics,  and  Economic Letters , among others. In addition, the environment between students and professors is very collegial, and we meet once a week (normally after seminars) for drinks in a relaxed environment.

Job placement . The job market placement of our recent PhD graduates has been extremely positive, including positions at the University of Arkansas, Penn State University, Yale University (Post-Doc), University of Connecticut, Purdue University, California State University, College of William and Mary, Cornell University (Post-Doc), Colorado State University, University of New Mexico, Illinois State University, University of Kentucky, Hamline University, University of Oklahoma, University of Georgia, and University of Nebraska; City University of Hong Kong, Renmin University, University of International Business and Economics, and Southwestern University of Finance and Economics (China); Higher School of Economics (Russia); at government agencies such as the US Department of Agriculture, Freddie Mac, the United Nations; and at firms such as JP Morgan-Chase, Amazon, BNP Paribas, Charles River and Associates, Amgen Corporation, FedEx, and American Express.

Funding opportunities . Many admitted students are international and around 80% of admitted students receive graduate assistantships from our School (with other students being funded by governments in their home countries, or private foundations, such as the Fulbright Scholarship or the Soros Foundations). At this point, common assistantships (with a 20-hour per week work obligation) pay an estimated monthly stipend of $1,949. The stipend is provided for the nine-month academic year. Health insurance and most tuition costs are provided to you in addition to the stipend, resulting in a total award value of up to $46,396 depending on residency status. Also, students in good academic standing typically receive one additional month of pay for teaching and/or research assistance during the summer. Therefore, Ph.D. students with a 9-month assistantship plus one-month of summer pay receive a total stipend estimated at $19,490 per year. Please note that we plan to increase monthly stipends starting every year, conditional on funding availability.

MS in Statistics. The PhD program enhances the marketability of graduates in all degrees by deepening their training in economic theory and econometrics. To further strengthen their quantitative training, some students simultaneously pursue a Master’s degree in Statistics (pdf) (at least 2-3 students pursue this option every year).

Class size. On average, our incoming class has around 18-23 students. Most of our students complete the program in 4 years, and a few students complete it in 5 years. Overall, we often have more than 80 students in our PhD program. You can learn more about the Economics Graduate Student Association .

The PhD requires core courses in economic theory and econometrics, advanced topics courses in applied fields, and the completion of a dissertation. In the first year, study in the doctoral program is tightly structured. During the first year, full-time students take four core theory courses, one core course in statistics for economists and one core econometrics course. Because the fall core courses offered in the first year are prerequisites for subsequent courses, students generally must begin the program in the fall semester. Additional core courses are taken in the second year. Field courses are taken in the second and (possibly) third years. Total requirements for the PhD degree include a minimum of 72 credits beyond the baccalaureate, including at least 39 credits of coursework from the core and field courses and 20 credits of doctoral research.

While an advisory committee tailors each student’s program to his or her interests, all programs are designed to meet the following requirements.

Core courses:  A 27-credit core curriculum ensures that each PhD student receives advanced training in economic theory and quantitative methods: (1) theoretical foundations of economics–12 credits (EconS 500, 501, 502, 503) or their equivalents; and (2) tools for research and empirical analysis–12 credits (EconS 510, 511, 512, and 521) or their equivalents.

Directed elective:  Students take one 3-credit, 500-level course as a directed elective with the approval of their academic advisor.

Fields of specialization:  A student’s program is required to demonstrate an area or areas of concentration that prepare the student for the dissertation. Through field courses, the students receive additional preparation in at least two areas of specialization. Together with individual research activities and mentored study, the field courses prepare the students to apply economic theory and quantitative methods to real-world problems.  Selections among field courses allow students to tailor their graduate program to specific interests and to interact with faculty working in their area. The fields of study offered are: Macroeconomics; Development Economics; Health Economics; Econometrics; Environmental & Natural Resource Economics; International Economics; Industrial Organization; Public Economics; Agricultural Economics (required for Agricultural Economics PhD) .

Advanced topics are taught in a repeatable, variable-credit course in each field area. Students take a minimum of six credit hours in each of two fields, and 12 credits overall in field courses.

Additional credits:  Additional coursework and research credits are used to bring the student up to 72 credits.

Application Process

For more information, please visit the following link, which provides instructions about the on-line application process and all necessary application materials: Application Process . Please note that applications to our Ph.D. program require you to submit your CV, your undergraduate transcripts (and, if applicable, transcripts from your Masters or other postgraduate courses), your scores in the GRE exam, your scores in the TOEFL exam (unless you can show that your undergraduate education was taught entirely in English), a statement of purpose, and letters of recommendation on your behalf. You do not need to establish connections with faculty during the application process. You will pick faculty to work with on research after the first year of the PhD program. The School of Economic Sciences does not charge or handle the application fee. Please contact the Graduate School at [email protected] .

• GRE exam . We do not have a minimum GRE score. However, the average GRE score in the quantitative section (the most important section for our application process) is around the 75th percentile (157 points), but most funded students are above the 80-85th percentile (about 159 points or above). If you took your GRE exam in the last 1-2 years, please contact us to check if you should include a more recent score in your application.
• TOEFL exam . The minimum TOEFL score is 213 in the computer version (which corresponds to 550 points in paper version and 80 points in the internet version). In case you took the IELTS exam, the minimum IELTS score is 7 points. Please note that the TOEFL/IELTS exams can be waived if you completed a degree (or at least an entire academic year) at a university in the which all coursework was taught in English. Specifically, the Graduate School from WSU waives the TOEFL/IELTS exam to applicants who completed their degree from institutions in the following countries: Australia, Bahamas, Barbados, Botswana, Canada, Guyana, Kenya, United Kingdom, Republic of Ireland, Jamaica, New Zealand, Nigeria, and Trinidad and Tobago. For more details on this policy, visit International Requirements website and for more information about the TOEFL exam .
• GPA score . The average GPA score into our Ph.D. program is around 3.4, but it varies depending on the coursework the applicant did in undergrad (for instance, we understand that your GPA can be lower than 3.4 if you took several math or Master-level courses).
• Transcripts . Applicants must submit transcripts from both their undergraduate and graduate-level courses, clearly reflecting the grade obtained in each course. Applicants can submit unofficial copies of all transcripts. If admitted into our program, the WSU Graduate School may contact the student asking him/her to submit official copies of all documents.

• Department of Economics >
• Graduate >

PhD in Economics

Applying online is convenient and efficient! We're here to help you every step of the way. 

• 7/27/18 Graduate Admissions
• View Your Application

Already enrolled in UB? Get details about Economics advisement, forms and other resources for current students. 

• 6/7/23 Info for Current Students
• 9/25/23 Graduate Student Directory

Learn more about The Graduate School and why UB is the place for you. 

• Graduate Study at UB
• Plan a Visit
• Policies and Procedures

The mission of the PhD in Economics program is to produce professional economists by providing graduates with a modern, balanced and high-quality education in both theoretical and applied economics. The department is also committed to examining and improving its program and enhancing the research efforts between faculty and graduate students.

The PhD in Economics program trains students in the core areas of economics (macroeconomics, microeconomics and econometrics) and in quantitative methods, improving their mathematical and econometric skills in the first year. In the second year students gain exposure to several applied fields of economics such as labor, urban and public economics and industrial organization. After the second year students define a field of their choice in which they commence PhD dissertation work. You may read recently completed  PhD dissertation s  topics, as well as selected PhD alumni  bios.

The PhD program in Economics is classified as a STEM degree (CIP Code 45.0603: Econometrics and Quantitative Economics). This designation reflects the quantitative orientation of the program and makes international students on F-1 visas eligible for a total of 3 years of Optional Practical Training (OPT) after graduation.

The incoming PhD stipend will be at least $20,000 for our departmental funded students.

Learning Outcomes

Every fall, the department welcomes approx. 9-14 new doctoral candidates. The PhD degree can take anywhere from four to eight years to complete, depending on the student's individual progress. Upon successful completion of the PhD in Economics, students will:

• Demonstrate an in-depth knowledge of microeconomic and macroeconomic theories and methods of analysis.
• Demonstrate mastery of the issues, theories and latest advances in one of the sub-fields of economics offered by the program.
• Demonstrate ability to conduct independent and original basic and applied research in economics.
• Achieve a high level of competence understanding the most recent theoretical and quantitative methods in economics.
• Acquire employable skills (i.e. teaching experience) to further professional endeavors. Most graduates pursue academic teaching and research careers, while others find rewarding careers in federal, state or local government, or in the private sector, both at home and abroad. 

Jameson Yu is the Assistant Director of graduate economics programs. He is responsible for recruiting students from around the world, answering program questions, processing applications and assisting our PhD students. Please feel free to contact Jameson by telephone, email or personal appointment with any questions or concerns. 

423 Fronczak Hall

Phone: (716) 645-8674

[email protected]

Phone: (716) 645-8679

[email protected]