econ phd math requirements

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)

• The Inventory

The complete guide to getting into an economics PhD program

Back in May, Noah wrote about the amazingly good deal that is the PhD in economics. Why? Because:

• You get a job.
• You get autonomy.
• You get intellectual fulfillment.
• The risk is low.
• Unlike an MBA, law, or medical degree, you don’t have to worry about paying the sticker price for an econ PhD:  After the first year, most schools will give you teaching assistant positions that will pay for the next several years of graduate study, and some schools will take care of your tuition and expenses even in the first year. (See Miles’s companion post  for more about costs of graduate study and how econ PhD’s future earnings makes it worthwhile, even if you can’t get a full ride.)

Of course, such a good deal won’t last long now that the story is out, so you need to act fast! Since he wrote his post , Noah has received a large number of emails asking the obvious follow-up question: “How do I get into an econ PhD program?” And Miles has been asked the same thing many times by undergraduates and other students at the University of Michigan. So here, we present together our guide for how to break into the academic Elysium called Econ PhD Land:

(Note: This guide is mainly directed toward native English speakers, or those from countries whose graduate students are typically fluent in English, such as India and most European countries. Almost all highly-ranked graduate programs teach economics in English, and we find that students learn the subtle non-mathematical skills in economics better if English is second nature. If your nationality will make admissions committees wonder about your English skills, you can either get your bachelor’s degree at a—possibly foreign—college or university where almost all classes are taught in English, or you will have to compensate by being better on other dimensions. On the bright side, if you are a native English speaker, or from a country whose graduate students are typically fluent in English, you are already ahead in your quest to get into an economics PhD.)

Here is the not-very-surprising list of things that will help you get into a good econ PhD program:

• good grades, especially in whatever math and economics classes you take,
• a good score on the math GRE,
• some math classes and a statistics class on your transcript,
• research experience, and definitely at least one letter of recommendation from a researcher,
• a demonstrable interest in the field of economics.

Chances are, if you’re asking for advice, you probably feel unprepared in one of two ways. Either you don’t have a sterling math background, or you have quantitative skills but are new to the field of econ. Fortunately, we have advice for both types of applicant.

If you’re weak in math…

Fortunately, if you’re weak in math, we have good news:  Math is something you can learn . That may sound like a crazy claim to most Americans, who are raised to believe that math ability is in the genes. It may even sound like arrogance coming from two people who have never had to struggle with math. But we’ve both taught people math for many years, and we really believe that it’s true. Genes help a bit, but math is like a foreign language or a sport: effort will result in skill.

Here are the math classes you absolutely should take to get into a good econ program:

• Linear algebra
• Multivariable calculus

Here are the classes you should take, but can probably get away with studying on your own:

• Ordinary differential equations
• Real analysis

Linear algebra (matrices, vectors, and all that) is something that you’ll use all the time in econ, especially when doing work on a computer. Multivariable calculus also will be used a lot. And stats of course is absolutely key to almost everything economists do. Differential equations are something you will use once in a while. And real analysis—by far the hardest subject of the five—is something that you will probably never use in real econ research, but which the economics field has decided to use as a sort of general intelligence signaling device.

If you took some math classes but didn’t do very well, don’t worry.  Retake the classes . If you are worried about how that will look on your transcript, take the class the first time “off the books” at a different college (many community colleges have calculus classes) or online. Or if you have already gotten a bad grade, take it a second time off the books and then a third time for your transcript. If you work hard, every time you take the class you’ll do better. You will learn the math and be able to prove it by the grade you get. Not only will this help you get into an econ PhD program, once you get in, you’ll breeze through parts of grad school that would otherwise be agony.

Here’s another useful tip:  Get a book and study math on your own before taking the corresponding class for a grade. Reading math on your own is something you’re going to have to get used to doing in grad school anyway (especially during your dissertation!), so it’s good to get used to it now. Beyond course-related books, you can either pick up a subject-specific book (Miles learned much of his math from studying books in the Schaum’s outline series ), or get a “math for economists” book; regarding the latter, Miles recommends Mathematics for Economists  by Simon and Blume, while Noah swears by Mathematical Methods and Models for Economists  by de la Fuente. When you study on your own, the most important thing is to  work through a bunch of problems . That will give you practice for test-taking, and will be more interesting than just reading through derivations.

This will take some time, of course. That’s OK. That’s what summer is for (right?). If you’re late in your college career, you can always take a fifth year, do a gap year, etc.

When you get to grad school, you will have to take an intensive math course called “math camp” that will take up a good part of your summer. For how to get through math camp itself, see this guide by Jérémie Cohen-Setton .

One more piece of advice for the math-challenged:  Be a research assistant on something non-mathy . There are lots of economists doing relatively simple empirical work that requires only some basic statistics knowledge and the ability to use software like Stata. There are more and more experimental economists around, who are always looking for research assistants. Go find a prof and get involved! (If you are still in high school or otherwise haven’t yet chosen a college, you might want to choose one where some of the professors do experiments and so need research assistants—something that is easy to figure out by studying professors’ websites carefully, or by asking about it when you visit the college.)

If you’re new to econ…

If you’re a disillusioned physicist, a bored biostatistician, or a neuroscientist looking to escape that evil  Principal Investigator, don’t worry:  An econ background is not necessary . A lot of the best economists started out in other fields, while a lot of undergrad econ majors are headed for MBAs or jobs in banks. Econ PhD programs know this. They will probably not mind if you have never taken an econ class.

That said, you may still want to  take an econ class , just to verify that you actually like the subject, to start thinking about econ, and to prepare yourself for the concepts you’ll encounter. If you feel like doing this, you can probably skip Econ 101 and 102, and head straight for an Intermediate Micro or Intermediate Macro class.

Another good thing is to  read through an econ textbook . Although economics at the PhD level is mostly about the math and statistics and computer modeling (hopefully getting back to the real world somewhere along the way when you do your own research), you may also want to get the flavor of the less mathy parts of economics from one of the well-written lower-level textbooks (either one by Paul Krugman and Robin Wells , Greg Mankiw , or Tyler Cowen and Alex Tabarrok ) and maybe one at a bit higher level as well, such as David Weil’s excellent book on economic growth ) or Varian’s Intermediate Microeconomics .

Remember to take a statistics class , if you haven’t already. Some technical fields don’t require statistics, so you may have missed this one. But to econ PhD programs, this will be a gaping hole in your resume. Go take stats!

One more thing you can do is research with an economist . Fortunately, economists are generally extremely welcoming to undergrad RAs from outside econ, who often bring extra skills. You’ll get great experience working with data if you don’t have it already. It’ll help you come up with some research ideas to put in your application essays. And of course you’ll get another all-important letter of recommendation.

And now for…

General tips for everyone

Here is the most important tip for everyone:  Don’t just apply to “top” schools . For some degrees—an MBA for example—people question whether it’s worthwhile to go to a non-top school. But for econ departments, there’s no question. Both Miles and Noah have marveled at the number of smart people working at non-top schools. That includes some well-known bloggers, by the way—Tyler Cowen teaches at George Mason University (ranked 64th ), Mark Thoma teaches at the University of Oregon (ranked 56th ), and Scott Sumner teaches at Bentley, for example. Additionally, a flood of new international students is expanding the supply of quality students. That means that the number of high-quality schools is increasing; tomorrow’s top 20 will be like today’s top 10, and tomorrow’s top 100 will be like today’s top 50.

Apply to schools outside of the top 20—any school in the top 100 is worth considering, especially if it is strong in areas you are interested in. If your classmates aren’t as elite as you would like, that just means that you will get more attention from the professors, who almost all came out of top programs themselves. When Noah said in his earlier post that econ PhD students are virtually guaranteed to get jobs in an econ-related field, that applied to schools far down in the ranking. Everyone participates in the legendary centrally managed econ job market . Very few people ever fall through the cracks.

Next—and this should go without saying— don’t be afraid to retake the GRE . If you want to get into a top 10 school, you probably need a perfect or near-perfect score on the math portion of the GRE. For schools lower down the rankings, a good GRE math score is still important. Fortunately, the GRE math section is relatively simple to study for—there are only a finite number of topics covered, and with a little work you can “overlearn” all of them, so you can do them even under time pressure and when you are nervous. In any case, you can keep retaking the test until you get a good score (especially if the early tries are practice tests from the GRE prep books and prep software), and then you’re OK!

Here’s one thing that may surprise you: Getting an econ master’s degree alone won’t help . Although master’s degrees in economics are common among international students who apply to econ PhD programs, American applicants do just fine without a master’s degree on their record. If you want that extra diploma, realize that once you are in a PhD program, you will get a master’s degree automatically after two years. And if you end up dropping out of the PhD program, that master’s degree will be worth more than a stand-alone master’s would. The one reason to get a master’s degree is if it can help you remedy a big deficiency in your record, say not having taken enough math or stats classes, not having taken any econ classes, or not having been able to get anyone whose name admissions committees would recognize to write you a letter of recommendation.

For getting into grad school, much more valuable than a master’s is a stint as a research assistant in the Federal Reserve System or at a think tank —though these days, such positions can often be as hard to get into as a PhD program!

Finally—and if you’re reading this, chances are you’re already doing this— read some econ blogs . (See Miles’s speculations about the future of the econ blogosphere here .) Econ blogs are no substitute for econ classes, but they’re a great complement. Blogs are good for picking up the lingo of academic economists, and learning to think like an economist. Don’t be afraid to  write  a blog either, even if no one ever reads it (you don’t have to be writing at the same level as Evan Soltas or Yichuan Wang );  you can still put it on your CV, or just practice writing down your thoughts. And when you write your dissertation, and do research later on in your career, you are going to have to think for yourself outside the context of a class . One way to practice thinking critically is by critiquing others’ blog posts, at least in your head.

Anyway, if you want to have intellectual stimulation and good work-life balance, and a near-guarantee of a well-paying job in your field of interest, an econ PhD could be just the thing for you. Don’t be scared of the math and the jargon. We’d love to have you.

Update:  Miles’s colleague Jeff Smith at the University of Michigan amplifies many of the things we say on his blog.  For a  complete  guide, be sure to see what Jeff has to say, too.

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• University of Pennsylvania
• School of Arts and Sciences

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Admissions information to the ph.d. program in economics.

Students may enter the Ph.D. program  only in the fall . Applicants must present evidence of a baccalaureate degree or its equivalent, or show that they can expect such a degree by the time they begin graduate work. The University requires that applicants utilize the on-line application system State . Applicants must upload a personal statement and their transcript (unofficial or official) from each university attended. If an applicant is accepted into our program then they must provide an official transcript mailed directly to the Graduate School of Arts and Sciences. Three letters of recommendation are also required, usually from professors who can judge the student's potential for high-quality academic work. Results of the Graduate Record Examination (GRE) must also be submitted. This test should be taken as early as possible to ensure that the results are received in time to be considered by the admissions committee.  Our GRE institution-department code is 2926-1801 . International students must submit a TOEFL score unless they have or will receive an undergraduate degree from a college/university in the US, Canada, UK, Australia, New Zealand, South Africa, or Ireland or they have completed, at the time of application, four semesters of graduate study at an institution in the above mentioned countries.

The program's goal is to admit 16 students a year. Applicants should be aware that the admissions committee reviews a large number of applications (over 600 last year). Our decisions on admission and financial aid are facilitated when application materials are clearly presented, well written, and concise. The committee tries to form an image of the intellectual and personal qualities of applicants, and then admits those who seem most likely to do high quality work. All applicants are encouraged to provide a personal statement (see below) and any additional information that might help the admissions committee in their task. For example, students might wish to submit research papers that they have written or a description of some major job experience related to economic analysis. 

Mathematics prerequisites

Proficiency in mathematics is crucial for successful completion of the first year of study, in the Department of Economics, at the University of Pennsylvania.

A minimal level of preparation  consists of two years of mathematics courses in college, including courses in:

• multivariable calculus
• probability theory and statistics
• linear algebra

An excellent level of preparation  consists of additional courses in:

• real analysis
• point-set topology
• measure-theoretic probability theory

We strongly suggest you obtain an excellent level of preparation, for your application to be competitive.

Requirement for Personal Statement:

In the personal statement, all Ph.D. applications within the Graduate Division of Arts & Sciences should address the following: Please describe how your background and academic experiences have influenced your decision to pursue a graduate degree and led you to apply to Penn. Your essay should detail your specific research interests and intellectual goals within your chosen field. Please provide information about your educational trajectory, intellectual curiosity and academic ambitions. If you have overcome adversity and/or experienced limited access to resources or opportunities in your field of study, please feel free to share how that has affected the course of your education. We are interested in your lived experiences and how your particular perspective might contribute to the inclusive and dynamic learning community that Penn values and strives to create.

In the Economics Graduate Group, we also ask that applicants discuss their relevant research experience, if any, that make Penn Economics a good fit for what you would like to accomplish in your PhD. Your statement can include specific fields of interests and specific faculty members that you think could be potential advisors. 

Deadline for admission:

All applications must be completed and submitted by 11:59pm eastern US standard time on December 15th. The admissions committee then examines completed applications which have been received. Notification of its decision is sent by April 15th.

Follow this link to apply on-line:  Slate

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.

Ph.D. Program Preparation

A PhD in economics is a research degree. Students should pursue this degree if they are interested in a career answering questions on issues from health to monetary policy to development using economic models and/or data. Although the requirements of the economics degree at Yale will give you a good foundation for graduate studies, most Ph.D. programs expect students to have taken additional courses, particularly in statistics and mathematics.

Mathematics. Most graduate programs expect familiarity with multivariate calculus (for example, Math 120), linear algebra (Math 222, or even better, a proof-based course such as 225 or 226) and real analysis (Math 255 or 256). More advanced mathematics work in linear algebra, differential equations, analysis and other proof-based courses is useful preparation for graduate work.

Econometrics and Statistics.  It is strongly recommended that students take at least two semesters of econometrics. More advanced courses in econometrics (for example financial time series or applied microeconometrics) , or in probability, statistics and stochastic processes (offered in the math or statistics departments) are useful preparation for graduate work.

Economic Theory.  Although the more mathematical theory courses (Econ 125, 126, 350, and 351) are not required for admission to graduate school, taking one or more of them gives extra preparation and exposes students to the kind of course material they can expect in graduate school.

Research Assistance. Working as a research assistant to an economist on campus  or off campus , provides excellent exposure to the type of work that PhD economists do.

Senior Essay.  The independent research experience involved in writing a senior essay is extremely valuable as preparation for graduate school.

Additional Resources.  Each year the department has an information session for undergraduate students interested in pursuing a PhD. The slides from the most recent meeting are here . The American Economic Association (AEA) has an informative section on Preparing for Graduate School  to help students wade-through the process of a terminal degree in economics.   This article in the AEA annual newsletter, Committee on the Status of Women in the Economics Profession , gives a good overview of getting into and finishing a PhD program.

AEA Summer and Scholarship Programs .  Since 1974, the AEA Summer Training Program and Scholarship Program have increased diversity in the field of economics by preparing talented undergraduates for doctoral programs in economics and related disciplines. AEASP is a prestigious program that enables students to develop and solidify technical skills in preparation for the rigors of graduate studies. As many as 20% of PhDs awarded to minorities in economics over the past 20 years are graduates of the program.

All students receive 2 months of intensive training in microeconomics, math, econometrics and research methods with leading faculty. At 3 credits per class, students have the opportunity to earn 12 college credits.

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.   

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• 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?
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• 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.

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Program requirements, degree requirements.

• Attend 3-week  Math Camp  during the summer preceding the first year (usually begins in late July)
• ECON 701D Microeconomics Analysis I
• ECON 702D Macroeconomics Analysis I
• ECON 703D Econometrics I
• ECON 705D Microeconomics Analysis II
• ECON 706D Macroeconomics Analysis II
• ECON 707D Econometrics II
• Two semesters of ECON 704  First-Year Research Workshop (6 credits)
• Qualify in each of the first-year core sequences in Microeconomics, Macroeconomics and Econometrics 
• Two semesters of ECON 801  Writing and Presenting in Economics (6 credits), to be taken Spring Semester of the second year, and Fall Semester of the third year
• 15 credits of field courses/modules , (typically ECON 880-888) to be completed by the end of the third year 
• Applied Microeconomics
• Econometrics
• History of Political Economy
• Macroeconomics and International Economics
• Microeconomic Theory
• Major field requirement: 6 credits (four modules  OR  two courses) in the field, and a field exam, to be completed by the end of the second year. Field Paper to be completed by the end of the first semester of the third year.
• Minor field requirement: 6 credits (four modules  OR  two courses) in the field to be completed by the end of the third year
• Seminar/Lunch Group course series: ECON 950-959 (1.5 credits per semester)
• Workshop course series: ECON 900-909 (3 credits per semester)
• Additional course credits as approved by the director of graduate studies
• Pass the   preliminary examination   by the end of the third year
• Present a preliminary  job market paper  each year after the third year until the job market year
• Present a   job market paper   during the fall semester of the job market year
• Dissertation
• Pass a  final examination   by the end of the fifth or sixth year; required to be completed within four years of the preliminary examination 
• Responsible Conduct of Research Training

Course Details

Core Courses:  In rare circumstances, students may place out of one of these courses, but only with the approval of the Director of Graduate Studies. In this case, students may register for additional courses in applied economics, statistics, business, mathematics or other fields of interest. Students qualify in the core subjects by either achieving a combined average of B+ or higher in the two semester core courses, or by achieving a passing grade on the core qualifying subject exam administered in the summer. The student's  cumulative GPA  in the six core courses must be 3.0 or higher at the end of the first year.

Course Structure for the Second Year and Beyond:  After the first year, many of the upper-level courses in economics are divided into half-semester modules. The purpose of this structure is to allow students to take courses along methodology lines rather than field lines and to better align coursework with their research interests. By their nature, modules count for only 1.5 credits, and students must complete enough of them to fulfill their graded course requirements. Module courses are all currently listed under special topics course number ECON 881-890. Students who wish to major in an Applied Microeconomics field have some flexibility in their choice of courses, but must obtain explicit approval of their course plan from their advisor.

Students must pass all classes. A failing grade in a class results in immediate removal from the program.

Undergraduate Courses:  Beginning Fall 2018, Ph.D. degree requirements are not based on credit hours, and Ph.D. students can take as many undergraduate courses as necessary to meet an educational goal defined by them or their faculty advisers. Undergraduate courses do not count toward Ph.D. student's GPA. 

Graduate students who wish to enroll in courses below the 500 level must get approval from their director of graduate studies and from The Graduate School’s associate dean for academic affairs by submitting a permission form . These courses will not count toward graduate credit or GPA.  

For International Students

International students whose first language is not English are required to take a writing and speaking exam administered by the English for International Students (EIS) program. This requirement applies to all students, and is over and above the submission of the TOEFL or IELTS score. Under certain circumstances, some students may be exempt if their undergraduate degree is from an institution in an English-speaking country. Please note that the purpose of these exams is not to measure English proficiency. Rather, they assess whether you will benefit from targeted training in academic speaking and writing in order to succeed in your academic career here and beyond, and in which English for International Students (EIS) classes you may be best placed. While required by The Graduate School, these courses will not count toward our degree programs' course requirements.

Additional information about the EIS program and courses currently offered can be found on The Graduate School's English for International Students website.

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Department of Economics

College of arts, humanities, and social sciences, recommended math courses for aspiring phd’s in economics.

Though Economists have a wide range of study areas, most PhD programs require students to be well versed mathematics in order to complete the program. At UMBC, there are many different classes to take in math and statistics to help prepare for graduate study. However, the core classes that PhD programs look for in applicants are the following:

• MATH 151  Calculus and Analytic Geometry I
• MATH 152  Calculus and Analytic Geometry II
• MATH 221  Introduction to Linear Algebra
• MATH 225  Introduction to Differential Equations
• MATH 251  Multi-variable Calculus
• MATH 301  Introduction to Mathematical Analysis I
• MATH 302  Introduction to Mathematical Analysis II
• STAT 453  Introduction to Mathematical Statistics

Click this link to see a progressive chart of recommended Math and Statistics courses for graduate study in Economics.

Rough Draft Econ Coursework

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• Resources for Students

Preparing for graduate school

Things to consider.

Applying to graduate school in economics can be daunting, but there are several things you can do to prepare your application and improve your odds. This section of the site demystifies the application process and provides advice for applicants.

A wide variety of resources are available:

• Graduate degrees in economics — Which program is right for you?
• AEA Summer Training Program — An eight-week course than can help solidify your math skills for graduate school
• Suggested application timeline — Help with navigating application schedules
• Funding opportunities for graduate school — Find fellowships and grants
• Math preparation for graduate school — What do you need to be ready?
• Program rankings — How graduate programs stack up
• Understanding the job market — What happens after graduate school?
• Considerations for prospective graduate students in economics — Further reading
• Pathways to Resaerch and Doctoral Careers

PhD Program

Year after year, our top-ranked PhD program sets the standard for graduate economics training across the country. Graduate students work closely with our world-class faculty to develop their own research and prepare to make impactful contributions to the field.

Our doctoral program enrolls 20-24 full-time students each year and students complete their degree in five to six years. Students undertake core coursework in microeconomic theory, macroeconomics, and econometrics, and are expected to complete two major and two minor fields in economics. Beyond the classroom, doctoral students work in close collaboration with faculty to develop their research capabilities, gaining hands-on experience in both theoretical and empirical projects.

How to apply

Students are admitted to the program once per year for entry in the fall. The online application opens on September 15 and closes on December 15.

Meet our students

Our PhD graduates go on to teach in leading economics departments, business schools, and schools of public policy, or pursue influential careers with organizations and businesses around the world. 

Doctoral Program FAQs

Frequently asked questions about admission to the Economics Ph.D. program

General Program Questions:

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Do I need to have a Bachelor's degree in economics to apply to the program?

A bachelor’s degree from a regionally accredited U.S institution or a comparable degree from an international institution is one of the requirements to apply to the graduate program in Economics. You do not need to have a Bachelor’s Degree in Economics to apply to the program. Applicants have Bachelor’s Degrees in Mathematics, Statistics, and other disciplines. For specific information on what is considered a comparable degree from an international institution please refer to the  Graduate School Admission Requirements page .

Do you have a Master's Program?

Yes, we have two master’s programs affiliated with the Economics Department.  We have a Master of Science in Economics and a Master of Science in Financial Economics .

Can I apply to the Ph.D. and Master's programs on the same application?

Yes, the graduate school electronic application allows you to list up to three programs per application. To apply to the economics Ph.D. and our either of our master’s programs, please list the Economics Ph.D. program and the Economics MS -Graduate Foundations program and/or the MS-Financial Economics on your application.

You may upload the same materials for both the Ph.D. and the MS-Graduate Foundations supplemental applications. Please note you will need to meet the earlier application deadline (Ph.D.) and will be first considered for the Ph.D. program.

How long does it take to complete the Ph.D.?

The program is designed to be completed in five years. It is not uncommon, however, for students to complete the program in six years. To learn about the goals and structure of the Economics Graduate Program visit our  Program Overview  web page.

What kind of jobs do your students pursue upon graduation?

Our graduates pursue research careers at colleges or universities and work for government agencies or private firms after graduation. You can find more detailed information on our  placement web page .

What is the cultural makeup of your current student body?

There are students in the program from around the world. Our domestic students are from all areas in the US.

Who do I contact if I cannot find an answer to my question on the web page?

If you cannot find the answer to your question above, you can read the Graduate School frequently asked questions ( FAQs ) for more information. You can also contact us at  [email protected] .

Application Questions:

For questions regarding the graduate school application system, please see the Graduate School FAQs .

Can I make changes to my application after I hit the final submit button?

Yes, you can reenter the graduate school electronic application to make changes.

How do I check my application status?

After you submit your application, you will be sent a link to set up your  MyUW  account and net ID. The submission process is an overnight process, so expect your email within 24 hours. It is very important that you set up your  MyUW  account to check your application status.  If you do not receive this link, please contact the graduate school at  [email protected] . 

How many applications do you receive each year?

The Department receives more than 500 applications for the Ph.D. program each year.

How many admissions are going to be offered this year?

It is not possible for us to tell you how many recommendations of admission are going to be offered this year. We have an Admissions and Aid Committee that makes all admissions and funding decisions. In February, the committee will evaluate the applications. Once the applications have been reviewed, the committee will decide on the number of students recommended for admission. In the past, the committee has planned on an entering class of 25-30 students. To achieve this class size, the number of students admitted the past three years was 116, 109, and 105.

From all the components of my admission file, are there any elements that are more important than others? Is there anything I can do to help improve my chances?

All aspects of your application are reviewed by one or two faculty members. Academic preparation is important; the committee likes to see good grades in hard courses (especially math courses or advanced economics courses). Reference letters are very important; ideally they should be written by people who know you well, and who know what it takes to succeed in a good PhD program.

The Statement of Purpose (SOP) is one of the components of your application packet. Among other things, the SOP can highlight the aspect of your application which is strong and, if you feel it is important, you can explain the reason for any weakness in the application

When will I know if I have been admitted?

The Economics program’s Admission and Aid Committee will inform you of its decision in March.

Can I consult with faculty so I can get further input as to how I could strengthen my application?

Every year the Department receives more than 500 applications for the Ph.D. program. Admission and funding is competitive and it depends on a number of variables including all aspects of your application and the applicant pool. In February, the Admissions and Aid Committee will decide on the number of students recommended for admission. Given the volume of applications, it is not possible to respond to inquiries about the chances of admission, or to provide information about the strengths and weaknesses in individual applications.

Transcripts and Test Scores

Do i have to submit an official paper transcript with my application.

No, paper transcripts are not required to submit with your application. However, it is required that you upload electronic copies of your transcripts or academic record with your application.

If you are recommended for admission, the Graduate School will request an official electronic or paper transcripts.

What are the transcript requirements for applicants who have attended institutions in countries where English was not the primary language?

If you are recommended for admission, the Graduate School will send you the transcript requirements. You will need to submit the transcript in the original language as well as an official English translation. You school should provide an official translation of your documents; otherwise have a translation done by your school or an official translator. In some countries, these people are also notaries. Do not submit an evaluation from a credential evaluation service in lieu of a translation.

Can I send high school transcripts in addition to University transcripts?

No, please do not send or upload high school transcripts.

Can I submit GMAT scores in lieu of the GRE?

No. GMAT scores will not be accepted in place of GRE scores.

How do I submit my GRE scores to the Economics Department?

The UW-Madison institutional code is 1846. Our institution does not use department codes – you may leave that portion blank or pick any code. It is very important  you use the same name and spelling on the application as you used on the test form to avoid delays on the arrival of scores on your file. The format of the date of birth is very important too. Please use month/day/year to avoid delays.

GRE scores are accepted if they are within five years of the start of the admission term.

Can I send paper copies of my GRE or TOEFL scores rather than having ETS send the official scores directly to UW-Madison?

Students must have official scores sent by ETS before admission is finalized. You may upload unofficial PDF copies of your GRE or TOEFL results on your application portal, but only official scores sent by ETS will be evaluated for admission. The UW-Madison institutional code is 1846. Our institution does not use department codes – you may leave that portion blank or pick any code.

What do I need to prove my English proficiency?

Every applicant whose native language is not English, or whose undergraduate instruction was not in English, must provide an English proficiency test score (TOEFL, IELTS, or Duolingo-starting Fall 2025 for our PhD program). Your score will not be accepted if it is more than two years old from the start of your admission term. Country of citizenship does not exempt applicants from this requirement. Language of instruction at the college of university level and how recent the language instruction was taken are the determining factors in meeting this requirement.

To see if you are exempt from the English proficiency requirement, please see the Graduate School’s requirements page .

What is the profile of the average admitted applicant?

The average Quantitative GRE score for applicants admitted to the program has been 92nd percentile on the exam. The average Writing Analysis score has been 4.49. The average GPA has been 3.84/4.0.

Writing Sample and Mathematics Preparation

Is there a page limit on the writing sample.

No, there is no page limit and the topic is not restricted to economics. However, the average submission runs from 2 to 7 pages.

Is the writing sample required?

Yes, a writing sample is part of the required application materials.

Can I apply if I have not met the math requirements?

Students entering the graduate program are required to have taken at least a three-course sequence in calculus, a course in linear algebra, and a course in mathematical statistics. You can apply  if you have not met all the math requirements.  However, all math prerequisites must be completed by the time you plan to start the program. The admissions committee will be able to evaluate your math ability more thoroughly if you have completed your math requirements at the time of application.  Please remember that  graduate work in economics demands mathematical sophistication of a higher order than the requirements of most U.S. undergraduate economics programs would suggest. The prerequisites above are a bare minimum, and additional background in mathematics and in graduate-level economics courses can ease the transition into the program.

How can I know whether my courses are equal to the required courses?

The  Math Requirements for Incoming Graduate Students  page lists some key topics and some useful references.

Funding and Financial Documentation

What is the deadline for admissions and for funding.

The application fee, math prep form, writing sample, statement of purpose, and transcripts must be received by  December 5 . We will start processing applications after the December 5th due date. Letters of recommendation must be submitted by December 31 .

How is funding awarded?

Funding is awarded to applicants on a competitive basis. Please see our  funding page  for additional information.

How do I apply for funding?

If your application is submitted and necessary materials received by December 5th, you will automatically be considered for funding. Please see our funding page  for more detailed information and the funding packets you would be automatically considered for if you apply on time.

There are other sources of funding such as loans through the Office of Student Financial Aid, as well as sources that are external to the university (e.g. grants, fellowships). However, the application process for those financial sources is not related to the process of admission to the Department of Economics. For more information, visit the Graduate Student Funding Resources page . Those pages will contain basic information detailing the funding resources available at UW-Madison, as well as contact information for initiating a search for other sources of funding.

I am an international student. Do I need to send financial documentation with my application?

No. If you are recommended for admission by the Economics Department and admitted by the Graduate School, you will asked to submit financial documentation once you initiate the immigration document request through our International Student Services (ISS) Office. Please review the ISS page on Becoming a Global Badger , which includes resources about the following:

• Step-by-step process of becoming a UW–Madison international student
• Estimated expenses
• Explanations of visa types, such as the difference between F-1 and J-1
• Resources to help international students transition to life at UW–Madison

Admitted Prospective Students

I received an admissions packet from the department indicating that i have been recommended for admission by the economics department. what does recommended for admission mean have i been admitted to uw-madison.

The admission to the graduate program in economics is a shared process at UW-Madison between the department and the Graduate School. When applicants receive an admission packet from the Economics Department indicating that they have been recommended for admission, this recommendation does NOT mean that they have been fully admitted. The applicant will have to finish the last steps of the admission process with the Graduate School. This includes sending the official transcripts requested by the Graduate School. The Economics Department sends admissions recommendations to the Graduate School with supporting materials. The Graduate School reviews the application and materials to ensure that the  Graduate School minimum requirements are met.

It is important for applicants to continue monitoring their admission progress. Each applicant can check their status in MyUW .

Do you have a Visit Day?

Yes, we invite all students who have been recommended for admission for a scheduled Visit Day in late March or early April. If you have been admitted and would like to arrange for a visit at a different time, please contact us at [email protected] .

I have been admitted to the Ph.D. program at UW. Can I defer my admissions for one year?

Term change (deferral) requests are reviewed on a case by case basis both by the department and the Graduate School. Please reach out to the department admissions contact if you have questions about deferring.

What is the reapplication process?

To reapply, you must follow the current process of admission. If you are required to submit a English proficiency scores, please be sure the score has not expired. Scores are accepted if they are within two years of the start of the admission term for which you are applying. GRE scores are accepted up to 5 years after the test date.

Department of Economics

Ph.D. Admissions

The ph.d. in economics.

The Ph.D. program in economics admits between 8 and 12 students per year and prepares them for a successful career in academia, government, international organizations, or the private sector. In the first year, students take classes in microeconomics, macroeconomics, and econometrics, as well as mathematical economics and economic history. In the second and third year, students take 21 credit hours of specialized classes in at least two of the following concentrations:

• Microeconomic Theory
• Macroeconomic Theory
• Econometrics
• Economic Development
• Economic History
• Health Economics
• Industrial Organization
• International Economics
• Labor Economics
• Money and Financial Institutions
• Public Economics

Students can petition to combine at least two related classes to a nonstandard concentration.  

Applying to the Program

The application deadline for the Ph.D. program is December 1st for the coming fall semester. Successful applicants have strong quantitative backgrounds and a passion for research in economics. The  application fee is $95.00 upon submission.

Please direct all Ph.D. admission inquiries to [email protected] .

Qualifications

Our incoming students usually have an undergraduate degree in economics and/or mathematics, with significant quantitative and math-intensive course experience. Many international applicants have a master’s degree. Research experience (such as an undergraduate or master’s thesis, or work as a research assistant) is a plus.  

• Required: One year of calculus, one semester of statistics, and intermediate-level courses in microeconomic theory and macroeconomic theory.
• Strongly recommended: Courses in linear algebra, differential equations, real analysis, and econometrics. 

Information to Submit

Base Requirements

• Self-reported/unofficial or official GRE scores
• Unofficial transcripts
• 3-5 letters of recommendation

English Language Proficiency Requirements 

• Test of English as a Foreign Language (TOEFL), minimum score  89
• International English Language Testing System (IELTS), minimum score  7.0
• Applicants to the Graduate School, regardless of citizenship, must either meet our waiver criteria or submit proof of English language proficiency. The online application will not require you to submit a language score if you meet the criteria for an exemption: you (will) have an equivalent degree from an English-language university in Australia, Canada, Ireland, New Zealand, Singapore, or the United Kingdom. See the Gradute School admissions page for more information about the English Proficiency Waiver:  Application Requirements | Graduate School | Vanderbilt University

Statement of Purpose

In your statement of purpose, tell us how your studies so far have prepared you for a Ph.D. program, and share what fascinates you about research in economics.  

Visiting Campus

Campus visits are offered to everyone admitted to the program. Visits consist of a half-day of individual meetings with faculty members and students, plus lunch. 

Q: What test scores do admitted candidates usually have  on the GRE?

A: Applicants often overestimate the importance of GRE scores for Ph.D. applications. The GRE tests whether you can do high school math quickly and correctly, as well as your vocabulary. Scores below a certain level (say, below 155 verbal and below 161 quantitative) tend to indicate problems, while very high scores do not necessarily guarantee that you are fully prepared for a Ph.D. program in economics.

For candidates who satisfy these thresholds, we look primarily at their preparation for a Ph.D. program in terms of how they did in the challenging courses they took in both advanced economics and math, rather than going only by their specific GRE scores.

Q: Do you have a minimum TOEFL or IELTS score?

A: The Graduate School recommends a minimum TOEFL score of 89 and a minimum IELTS of 7.0

Q: I am a native English speaker, do I have to submit proof of English proficiency?  

A: All applicants to the Graduate School, regardless of citizenship, must either meet the waiver criteria or submit proof of English language proficiency. See the Graduate School requirements page for more information:  Application Requirements | Graduate School | Vanderbilt University

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PhD Program

The Department of Economics at Washington University has a strong reputation for preparing high-quality PhD students for academic positions as well as for private- and public-sector jobs. We are seeking qualified students from any field who possess strong analytical abilities in mathematics and statistics and who are willing to complete a challenging Doctor of Philosophy (PhD) degree in Economics. 

Students are fully funded for 5 years and receive an annual stipend of $35,000, as well as full tuition waiver and health insurance.  The department offers students financial support while they remain in good academic standing.

Federal STEM program: International students are allowed to work up 3 years post-graduation(OPT).

Graduate Director: Jonathan Weinstein

PhD Committee: Francisco (Paco) Buera , George-Levi Gayle , Ismael Mourifié , Werner Ploberger , Jonathan Weinstein , M. Bumin Yenmez

PhD Admissions Committee: Chair: Rodolfo Manuelli Members: Gaurab Aryal , Ismael Mourifié , Werner Ploberger , M. Bumin Yenmez

Departmental Support & Services

Graduate requirements.

Requirements and timeline for a PhD in economics or an AM in economics.

Job Market & Placement

The department places great importance on helping students obtain professional positions. Faculty and staff, in particular, the Placement Director and a student's Research Advisory Committee, work together with students to ensure job placement.

Job Market Packet

For convenience in recruiting, we have created a summary packet of our PhD candidates who are on the job market this year.

Financial Support

Doctoral students in good academic standing are fully funded through five years of study. Additional university-wide fellowships are available.

Econ 508: Math Camp

Econ 508A is a three-week course on essential mathematical tools for a first-year PhD student in Economics, Political Science, or some of the Business disciplines.

English Language Program

If English is not your first language, remedial programs in written and spoken English may be very important for your success in the PhD program. Learn about support for and responsibilities of students whose native language is not English.

Graduate Student Association of Economics

The Economics Department’s Graduate Student Association (GSA) is a non-profit, student-run organization established for the benefit of all economics graduate students in the Department of Economics at Washington University in St. Louis. The GSA promotes scholarship, develops a spirit of cooperation and fellowship among economics graduate students, and fosters interaction between graduate students and faculty.

Doctoral Resources

See commonly used resources here, or browse all resources . 

Academic Calendar

find dates for deadlines, holidays, and more

Center for Diversity & Inclusion

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consult WashU's catalog of programs and degree requirements

Economics Library

a guide to economics resources in University Libraries

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formerly the Liberman Graduate Student Center

search more resources

• Office of Graduate Studies
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Department of Economics

The Ph.D. program in Economics at Brown trains students in economic theory and the tools of economic analysis. Through coursework, participation in seminars, and supervised research students are taught to conduct theoretical and empirical research at the highest level.

The Economics Department will be accepting applications to its PhD program for Fall 2024.  Applications are due by January 1, 2024. Application information is available at  https://www.brown.edu/graduateprograms/economics-phd  . 

FAQ: If you have questions about the program or the admissions process please consult our list of frequently asked questions  . If your questions are not answered there please contact  [email protected] . 

Requirements

The Ph.D. degree usually requires two years of course work, followed by supervised research and the completion of a doctoral dissertation.

The first year involves core courses in:

• Microeconomics (Economics 2050, 2060)
• Macroeconomics (Economics 2070, 2080)
• Econometrics (Economics 2030, 2040)
• One in mathematics (Economics 2010)
• One in applied economics analysis (Economics 2020) 

Students will take microeconomics, macroeconomics, and econometrics in their first year and must receive a passing grade in these courses. Starting in the second year, each student chooses two fields of specialization, and takes an oral field exam. Each field comprises two advanced courses within an area. Beyond the fields, the student takes three additional advanced courses, for a total of seven.  Students must receive a B or better in these courses. The rest of pre-dissertation requirements include a poster presentation in late March, a research paper turned in during May of the third year, and successful seminar presentations each year from the fourth year and on.

Handbook of the Graduate Program

The detailed description of all requirements, along with guidelines for the student, can be found in The Handbook of the Graduate Program.

View Handbook

Dissertation

The culmination of the Ph.D. program is the dissertation, which embodies the results of the student's original research. Work on the dissertation usually takes two-three years after completion of course work. Students working on dissertations participate actively in research workshops. After a faculty committee has approved the dissertation, the student takes a final oral examination on the subject of the dissertation.

High Standards

The work in the Ph.D. program is demanding and the standards of performance are high. The Department's reputation for providing superb training has enabled its graduates to compile an excellent placement record. Some of the institutions at which recent graduates have obtained positions include major research universities (Chicago, Harvard, Johns Hopkins, Michigan, Dartmouth, Minnesota, New York University, Penn State, University College London, University of British Columbia, University of Pittsburgh, University of Toronto, University of Virginia), prestigious liberal arts colleges (Wesleyan University and Williams College), government and international agencies (International Monetary Fund, Federal Trade Commission, World Bank, Congressional Budget Office, Board of Governors of the Federal Reserve System, US Census Bureau), and private industrial, consulting, and research firms. Brown graduates have an outstanding record of research accomplishments and publications.

Exceptional Faculty

The Department currently has about 40 tenure track faculty . The faculty includes several Fellows of the Econometric Society, several Sloan Fellows, several Guggenheim Fellows, several recipients of prestigious prizes and awards, the editor of the Journal of Economic Growth, the editor of the Journal of Financial Intermediation, a past editor of the American Economic Review, and several associates and fellows of the National Bureau of Economic Research and the Center for Economic Policy Research. The Department's faculty publishes regularly their research in the top journals of economics and other disciplines, as well as in top field journals (see our "Selected Faculty Publications"). Members of the faculty in the Department have also delivered numerous named, keynote and plenary lectures in main international scientific conferences. The atmosphere in the Department is highly collegial. Interaction among faculty members and graduate students is easy and extensive. The department collaborates with the  Brown Population Studies and Training Center,  which provides support for students doing research in population economics and economic development. Active workshops provide opportunities for faculty, graduate students, and visiting scholars to discuss current research. Library and computer facilities are excellent.