PhD in Economics

The Department of Economics offers a doctoral program that prepares economists for careers in research, teaching, or decision making in business and government. The program has a strong quantitative and analytical orientation. It is designed to provide advanced research skills and to broaden your understanding of economic institutions.

Ph.D. students must complete a minimum of 52 credit hours in core courses and field sequences within the plan of study. You must complete 18 credit hours of courses in economic theory (including a preliminary theory examination covering materials in four of these courses) and 10 credit hours of core courses in quantitative economics (including, if necessary, a preliminary quantitative examination). You are required to attend workshop seminars beginning in your second year. You must develop proficiency in three fields of specialization, and pass preliminary examinations covering the core courses and the major field of specialization. You also must write and successfully defend a dissertation of suitable scholarly content and scope that demonstrates ability to carry out a substantial independent research project.

Each field in economics requires passing a minimum of six credit hours of Ph.D. courses. For a field of specialization outside of economics, six hours of Ph.D. courses also are required. A written examination in one of the economics specialization fields that you designate as your major area of interest must be passed. Prior to taking this examination, and in any event before the end of the fifth semester, you will select the chair of the dissertation committee, who will oversee progress toward the successful completion of the dissertation.

Students typically take four years, including summer school sessions, to complete their Ph.D. studies in economics.

Some of these field sequences are offered annually, while others are offered as demand dictates.

• Econometrics
• Economic Development
• Financial Economics
• Experimental Economics
• Industrial Organization
• Information Economics
• International Economics
• Labor Economics
• Macro-Monetary Economics

One of the three fields of specialization can be from a related area offered by the management faculty such as:

• Accounting
• Finance
• Management Information Systems
• Marketing
• Operations Management
• Organizational Behavior and Human Resource Management
• Quantitative Methods
• Strategic Management

Workshops

During each semester after the first year in residence, students participate in workshops and seminars in their area. An average of 35 distinguished external speakers per year, as well as faculty members and students, give seminars in applied microeconomics, theory, or macro/international economics.

Required Courses

• 18 credit hours in economic theory (including a qualifying examination covering material in these courses).
  
  
• 10 credit hours in econometrics (including a qualifying examination).
  
  
• 6 credit hours in a methodological area, 6 credit hours in a primary field offered in the Economics Department, 6 credit hours in a secondary field, and 6 elective credit hours. The student must pass a primary field examination.
  
  
• Six workshops (second-, third-, and fourth-year students)
  
  
For more information, please go to the Economics Department Web site.

Admission to the economics doctoral program is limited to students of outstanding promise. Applicants must have completed two semesters of calculus and one semester of linear algebra, as well as have demonstrated competence in undergraduate studies.

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 develop teaching ability and the ability to apply theory and research methodology in the student's area of specialization. Assignments involve approximately 20 hours per week; they vary according to a student's professional aspirations, performance in prior assignments, and progress in the Ph.D. program.

Students admitted without funding do not compete with existing funded students for financial support. If a funded student withdraws from the Ph.D. program, the funds that are freed up are returned to the School for funding new students. At the end of each year, students without funding who have demonstrated academic excellence may compete with new students for financial support by petitioning the Economics Policy Committee.