Most Ph.D. students are awarded graduate teaching/research assistantships or research grants, which last for the normal length of the program, conditional upon satisfactory academic performance and satisfactory performance of the duties of assistantships. These awards are accompanied by substantial university tuition and fee remissions, significantly reducing the cost of pursuing a doctoral degree.
Graduate assistants engage in assignments that involve approximately 20 hours per week. Assignments vary according to a student's professional aspirations, performance in prior assignments, and progress in the Ph.D. program. At the end of each year, those unfunded students who have demonstrated academic excellence may compete with new students for financial support by petitioning the Economics Policy Committee.
A limited number of fellowships are also available to entering students. In addition, it is common for fourth year students to receive dissertation fellowships to work exclusively on their dissertations.