phd economics qualifications

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.   

Ph.D. Program

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

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

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

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

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Our Program

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

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

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Ph.D. Program

Welcome to the phd program.

The Georgetown University Economics Ph.D. program is a full-time program designed for students who seek research careers at the forefront of economic science. The Ph.D. program provides an excellent training environment for future scholars. Located in the nation’s capital, it is ideally situated for both students specializing in pure science and those who wish to study policy informed by science.

Main Contacts

• Julius Shapiro serves as the PhD Program Coordinator. Please contact him first with any questions related to the PhD Program.
• Professor  Toshihiko Mukoyama  serves as Director of Graduate Studies and is responsible for the PhD Program.

Information for Applying to the PhD Program

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• Prospective Ph.D.s

Prospective Ph.D. Information

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

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

Program details

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

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

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

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Our fields of study:

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

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Thinking of Pursuing a PhD in Economics? Info on Graduate School and Beyond

Kasey Chatterji-Len and Anna Kovner

Becoming a PhD economist can provide a fulfilling and financially secure career path. However, getting started in the field can be daunting if you don’t know much about the preparation you’ll need and the available job opportunities. If you’re wondering what it means to be an economics researcher or how to become one, please read on. We’ll review how to prepare for a career in economics research, what an economics PhD program entails, and what types of opportunities it might bring. Economic education is a core component of the Federal Reserve Bank of New York’s mission to serve the community. To empower would-be economists, this post provides information for students who seek a career in economics research. We hope this information will be helpful to students interested in economics, regardless of their background and economic situation.  This information is most applicable to students applying to programs in the United States.  

The Breadth of Economics Research  

Academic disciplines conduct research in different ways, so it’s important to have a basic understanding of the types of questions economists ask and how they approach answering them. There are many definitions of economics, but a broadly useful one is the study of how people, organizations, and governments make decisions under different constraints, and how those decisions may affect their outcomes. 

When answering these questions, economists seek to ground their analyses in models and to be quantitatively precise about the effects they assign to any given cause. The range of topics economists can study is wide, but the accepted approaches to answering questions are stricter. Some examples of what economists might ask: 

• How do different public housing programs affect the children who live there? 
• Does a certain type of law encourage businesses to innovate? 
• How will a change in the interest rate affect inflation and unemployment rates? 
• How much does affordable health insurance improve people’s health? 
• How can poor countries eradicate poverty? 

There are many different subfields within economics, including, but not limited to behavioral, econometrics, energy/environmental, development, financial, international, monetary, public, and urban economics. You can familiarize yourself with the latest work in economics by subscribing to working paper series, such as NBER’s New This Week or the New York Fed’s Staff Reports . To get an idea of the breadth of questions economists can answer, you could listen to Stephen Dubner’s “ Freakonomics Radio ” podcast. You may also want to explore the Journal of Economic Perspectives , the New York Fed’s Liberty Street Economics blog, VoxDev , or VoxEU .  

What Is a PhD Program Like?    

Economics PhD programs typically last five to seven years. Unlike masters programs, they are often fully funded with a stipend, though most require students to complete teaching assistant and/or research assistant (RA) work as part of their funding package. In the first two years, students take classes, many of which are mathematically demanding. The rest of the program can include additional classes but is primarily devoted to original research with the aim of producing publishable papers that will constitute the dissertation.  

Faculty advisors are a central part of PhD programs, as students look to them for guidance during the research process. Economics PhD programs are offered within university economics departments, but there are similar programs in public policy and business schools. You can look at their websites to understand any differences in coursework and subsequent job placements. 

What Can You Do with an Economics PhD?  

Upon graduation, students can obtain jobs in a variety of industries. Many PhD students hope to become university professors. Governments and public policy-related institutions such as the Federal Reserve System, the U.S. federal government, the World Bank, and the International Monetary Fund (IMF) also hire economists to work on policy, lead programs, and conduct research. Finally, economics PhD graduates can also find employment at a variety of private sector companies, including banks, economic consulting firms, and big tech companies. The pay for these different positions can vary. According to the American Economics Association (AEA), the average starting salary for economics assistant professors in 2022-23 was approximately $140,000 at PhD granting institutions and $98,000 at BA granting institutions. 

Programs often publish the placements of their PhD graduates, so you can look online to see specific employment outcomes. See, for example, the University of Maryland’s placements . Ultimately, economists are highly regarded as authorities on a variety of topics. Governments, nonprofits, philanthropic foundations, financial institutions, and non-financial businesses all look to economists to answer important questions about how to best achieve their goals. Thus, earning an economics Ph.D. can potentially help you to influence issues that are important to you. 

Preparing for an Economics PhD Program  

There are several components to an economics PhD program application: college transcripts, GRE scores, letters of recommendation, and personal statements. Please download the Appendix linked below to learn more about transcripts and letters of recommendation. The Appendix details ways in which you can select coursework, obtain research experience, and develop relationships to position yourself for success as a PhD applicant.  

If you feel that you are too far along in your academic career to take enough of the classes described in the Appendix, this does not necessarily preclude you from pursuing an economics PhD. For example, it’s possible to take some of these classes through a master’s program, or through a pre-doctoral RA job. Some pre-doctoral RA jobs, such as the one here at the New York Fed , may enable you to take classes in preparation for graduate school. If you are concerned about your transcript, reach out to an economist at your university for advice; program standards for coursework and grades vary, and it’s a good idea to get more personalized advice. 

Research Experience   

If you’re interested in becoming an economics researcher and applying to PhD programs, it’s best to get research experience as soon as possible. Working as an RA is a great way to learn how to conduct research and get a better idea of whether it’s the right career path for you. Additionally, it can help you obtain a letter of recommendation for graduate school applications and improve your qualifications.  

All types of academic research can be enriching, but it’s beneficial to gain experience working directly with an economist. To find a position, you can reach out to professors whose work you find interesting or find an RA program at your school. Typical RA tasks may involve data collection and cleaning, as well as running analyses and creating charts to represent results. This is where coding skills become crucial; having taken math, statistics, and econometrics courses will also enable you to take on more responsibilities. 

You may also have the opportunity to conduct your own research, possibly under the supervision of a professor at your university. This research could be self-initiated or part of a course such as a thesis workshop. Self-directed research is a great opportunity to learn about all stages of the research process. It’s also an excellent opportunity to create a writing sample for graduate school applications. Ultimately, though, your motivation for conducting your own research project should be that you want to answer a question.  One thing economists have in common is a love of answering questions using data and theory. 

Research experience is also often obtained after completing an undergraduate or master’s degree. Taking on a full-time RA position before applying to PhD programs is very common and can make you a more competitive applicant. You may either get an RA job working for a professor or participate in a pre-doctoral RA program.  

Research assistant programs are more structured than positions with individual professors or projects, which could be helpful. Universities, parts of the government, think tanks, research organizations, and the Federal Reserve System are all good places to look for research assistant programs. To help you decide which opportunities are most desirable, you may want to ask potential employers : Where do people in this program tend to go afterward? Will I be working directly with an economist? How much of my time will be spent on academic research work? Will I be able to take classes as part of this program? Considering whether an economist will be able to evaluate your performance is an important factor for recommendation letters. The ability to take classes, either through tuition reimbursement or waivers, can also be an important benefit. 

The Research Analyst program here at the Federal Reserve Bank of New York is one example of these programs and you should check it out here . The Federal Reserve Board of Governors also has a large program, and many other regional Federal Reserve Banks have similar programs. In addition, the PREDOC website and the  NBER post listings of RA opportunities. J-PAL and IPA also tend to recruit RAs for economic development projects. Another source of RA opportunities is the @econ_ra account on X. 

Who Should Get a PhD in Economics?  

A PhD may not be for everyone, but it is for anyone—people of all genders, religions, ethnicities, races, and national origins have PhDs in economics. Many economists majored in economics, but others majored in math, physics, or chemistry. Because economics is such an integral part of policymaking, it is important that economists come from a wide range of backgrounds so policy can be stronger and more effective. The inclusion of differing perspectives helps ensure that the contribution of economists to work in public policy, academia, and beyond effectively serves the broadest range of society. 

• Coursework Appendix

Kasey Chatterji-Len is a research analyst in the Federal Reserve Bank of New York’s Research and Statistics Group.

Anna Kovner  is the director of Financial Stability Policy Research in the Bank’s Research and Statistics Group.

How to cite this post: Kasey Chatterji-Len and Anna Kovner, “Thinking of Pursuing a PhD in Economics? Info on Graduate School and Beyond,” Federal Reserve Bank of New York Liberty Street Economics , May 31, 2024, https://libertystreeteconomics.newyorkfed.org/2024/05/thinking-of-pursuing-a-phd-in-economics-info-on-graduate-school-and-beyond/.

You may also be interested in: AEA: Resources for Students

PREDOC: Guidance for Undergraduates

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Disclaimer The views expressed in this post are those of the author(s) and do not necessarily reflect the position of the Federal Reserve Bank of New York or the Federal Reserve System. Any errors or omissions are the responsibility of the author(s).

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Liberty Street Economics features insight and analysis from New York Fed economists working at the intersection of research and policy. Launched in 2011, the blog takes its name from the Bank’s headquarters at 33 Liberty Street in Manhattan’s Financial District.

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Tepper School of Business

Ph.D. Program in Economics

Graduates have exceptional research training in economic theory and the quantitative tools required for innovative research on complex economic problems..

The purpose of the Ph.D. program in Economics is to educate scientists who will advance the frontiers of economic knowledge through research and teaching.

The program is designed to provide students with sound training in economic theory, and the quantitative tools required for innovative research on economic problems. Equally important, the program is structured to allow students both time and guidance for research activities.

The goal of the doctoral program in economics is to help students learn to do original, creative research. Unlike most graduate programs in economics, we have chosen not to impose rigid course requirements on students. Instead, we emphasize involving students in research early in their graduate careers. Students in the doctoral program in economics at the Tepper School of Business at Carnegie Mellon take courses in order to learn the fundamental principles of economic theory underlying all areas of application, and to master the analytic and modeling techniques of the practicing research economist. In-depth knowledge of specialized areas is required as a by-product of research activity.

At the completion of the Ph.D. program in economics at the Tepper School, a student should have mastered the fundamental principles of economic theory and the quantitative tools required for basic and applied research. Additionally, the student should have attained a level of skill in research techniques which will serve as the basis for continued self-development.

• Students are expected to obtain knowledge of substantive research areas by taking elective courses, attending and participating in seminars, working with the faculty, and reading research papers.
• Students are urged to actively involve themselves in the intellectual life of the school.
• Seminars are a fundamental mechanism for exchange of information throughout the profession, and they are an essential professional activity of a successful research economist.
• Students should plan to attend weekly seminars throughout their stay at the business school.

Research Topics

• Real Business Cycles
• Expectations and Indeterminacy of Monetary Equilibrian Experimental Economies
• Consistent Incentive Mechanism (Contract) Design
• Corporate Financial Policy Under Asymmetric Information
• Bargaining Foundations of Product Innovation
• Variation in Wages and Hours of Work Over the Business Cycle
• Individual Adjustment to Changing Labor Markets
• The Distribution of Income Within and Across Households
• The Results of Deregulation
• Macroeconomic Policy
• International Trade Policy
• Female Labor Supply and Fertility
• The Economics Behind Marketing "New and Improving" Products
• Risk Analysis and Management
• Estimation and Inference for Dynamic Economic Models
• The Duration of Interorganizational Relationships
• The Endogeneity of Appropriability and R&D Investment

P lease visit our Ph.D. Student Profiles page t o view the profiles of our current doctoral candidates.

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About the Ph.D. Program

The Ph.D. Program in Economics at UCLA prepares students for careers as economists in academia, business and government. The program combines rigorous work in economic theory and careful study of real-world problems and institutions. Graduates from this program work at major universities around the world, national and international government agencies, banks, research centers and in private businesses. Some of our graduates have achieved great prominence, such as William Sharpe , who earned both his B.A. and Ph.D. degrees at UCLA, and was co-recipient of the 1990 Nobel Prize in Economics for his work on the capital asset pricing model.

The department includes internationally recognized scholars in economic theory, econometrics, and all the major applied fields. These outstanding scholars form one of the foremost departments of economics in the world.

The Economics Department is situated within one of the world’s most youthful and vibrant universities. Founded in 1919, UCLA first developed into a major university in the 1950’s. After so short a history, the university was ranked second in the United States among public research universities by the Conference Board of Associated Research Councils in 1982. Thirty-one of its Ph.D. programs are currently ranked in the top 20 in their field–third best in the nation.

The Ph.D. is the degree objective of the graduate program. This degree is awarded to students who demonstrate professional competence by passing written qualifying exams and by completing a major piece of individual research (the Ph.D. dissertation).

Preparation for the qualifying exams through coursework and independent study occupies most student time for the first two years. Thereafter the focus shifts to independent research and finally to the writing of a Ph.D. dissertation. Research in progress by our graduate students as well as our faculty is presented at workshops that meet weekly throughout the academic year. Currently, the Dept. has workshops in Theory and Mathematical Economics, International and Development Economics, Labor and Population Economics, Business Organization and Regulation Economics, Economic History, Econometrics, and Monetary Theory. In addition, many graduate students work as research or teaching assistants for faculty members. The normal time to degree is six years.

This degree program classifies as STEM (CIP Code 45.0603: Econometrics and Quantitative Economics).

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Graduate Program

Ph.d. studies at princeton economics.

The Ph.D. program at Princeton Economics is one of the premier economics programs in the world. The small number of students admitted each year receive training in an exceptional research environment, supported by faculty members who are working at the forefront of research in their fields.

Admission to the program is extremely selective. Each year, the department receives approximately 800 applications for a class of 20 to 25 students. Students come from diverse backgrounds and from dozens of countries around the globe.

Princeton provides all admitted Ph.D. students tuition and fellowship support for the academic year. Admitted students also receive fellowship support through the summer months so they can continue their study and research when classes are not in session.

The Economics Department at Princeton does not offer a Master’s Degree. Students looking for information about the Master in Finance can learn more on the Princeton Bendheim Center for Finance website .

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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.

Have questions about applying? Please check our FAQ page  before emailing us at [email protected] . We partner with Harvard Economics to connect prospective students from underrepresented groups with graduate student mentors. Details of this Application Assistance and Mentoring Program are available below.

Application requirements

The application to our doctoral program is open annually from September 15-December 15 for admission the following September. The application for September 2024 admission is now closed.

Your application is considered complete when you have successfully submitted the following requirements by the December 15 application deadline:

• Online application
• $75 application fee
• Scanned copy of college transcripts
• Three letters of recommendation
• TOEFL, IELTS, or Cambridge English Qualification (C1 & C2) test score (any one) for international students whose native language is not English
• The GRE is required as part of applications for the 2025-2026 cycle (for September 2025 admission)

To request a fee waiver, please complete MIT's application fee waiver form . You should carefully review the eligibility criteria prior to applying. A representative from MIT’s Office of Graduate Education will be in touch about the outcome of your request.

Transcripts

Please upload one copy of each transcript from all universities you have attended. If you're admitted to the program, we'll require you to have an official copy of your transcript(s) sent to us from the university's registrar. Your transcript will be verified upon receipt and any discrepancy between the transcript you uploaded and the official transcript will result in a withdrawal of our offer of admission.

Letters of recommendation

Letters must be submitted/uploaded by the letter writers by December 15. Please send the email request to your letter writers via the 'Letter Status' section in your application.

TOEFL, IELTS, or Cambridge English Qualification scores

International students whose first language is not English are required to submit   English language proficiency test scores unless they are a US citizen or permanent resident. The department will also waive the requirement for international non-native speakers of English who have spent three or more years studying in an accredited school or university where English is the language of instruction.  (Please note: verification of the institution’s language of instruction may be requested.)

We accept the following test scores:

• Cambridge English C1 Advanced
• Cambridge English C2 Proficiency

If you meet the criteria for a waiver, you can make a request to waive the English proficiency exam requirement on the online application, under the "test scores" section.

TOEFL, IELTS, and Cambridge English Qualification scores are valid or accepted for two years. Scores that expire while an application is under review will be considered valid.

Submitting your scores

Your online application will prompt you to attach a scanned copy of your test scores. Your scores must also be sent directly to MIT from ETS, IELTS, or Cambridge. MIT's school code for the TOEFL is 3514. The TOEFL code for the Department of Economics is 84. IELTS and Cambridge do not require a code. Please enter "Massachusetts Institute of Technology- Graduate Admissions."

Official scores must be received from ETS, IELTS, or Cambridge by December 15. Please take your proficiency exam of choice by November 30 to allow for proper reporting time. If your score report arrives shortly after the deadline, it will be accepted, but your application may not be reviewed until your scores are received.

Minimum score requirements

The minimum requirement for the TOEFL is PBT: 600, iBT: 100. The minimum requirement for the IELTS is 7.  The minimum requirement for the Cambridge English Qualifications is a CEFR score of 185.

Your online application will give you the option to attach a scanned copy of your test scores or a screenshot of the scores from the ETS website. You can also send a score report directly to MIT from ETS. MIT's school code for the GRE is 3514. The code for the Department of Economics is 1801.

To allow for your scores to arrive by the application deadline, you should take the GRE by November 30 to allow for reporting time.

Personal statement (optional)

We encourage applicants to include a statement of objectives/personal statement with their application, though it is not required. The statement is an opportunity to explain what makes you a good candidate for the program. You should describe why you wish to attend graduate school, what you would like to study, and any research experience. Describe one or more accomplishments you are particularly proud of that suggest that you will succeed in your chosen area of research. You can also share any unique perspective or life experience that would contribute to the program.   Statements are typically two single-spaced pages.

Application Assistance and Mentoring Program

Many students interested in an economics PhD experience disparate degrees of support in the application process. The Application Assistance and Mentoring Program (AAMP) aims to mitigate these gaps by helping students from underrepresented groups connect with a graduate student mentor in MIT or Harvard’s PhD economics programs.

Mentors can provide:

• Advice on graduate school and fellowship applications, including questions about the application process and feedback on application materials.
• Information about economics research, life as a PhD student or in an academic career, for students who are deciding whether a PhD in economics is the right choice for them.

The AAMP aims to increase the pipeline of diverse talent in economics PhD programs and welcomes participation from all groups underrepresented in economics, including but not limited to: Black, Hispanic-Latinx, Native American, low-income, and LGBTQ+ students, women, students with disabilities, and students who are the first in their families to go to college. The AAMP welcomes participation among students at various stages of their economics studies, including undergraduates and college graduates. The AAMP is open to students who are curious about the academic economics experience and interested in figuring out if it’s right for them. 

Interested participants should fill out the application linked below. We will accept applications until July 17, 2023. Mentorship will begin over the summer and continue through Fall 2023. Mentees who prefer to meet for a single “coffee chat” may indicate their preference on the form. We will do our best to match all interested applicants with a mentor; however, demand may exceed the availability of mentors.

Please note that the MIT / Harvard Economics AAMP is a volunteer-based, student-run program. This program is not considered part of the admissions process for the Economics PhD at MIT or Harvard, nor will any student's participation in the AAMP be considered by the Graduate Admissions Committee at either school.

Please direct any questions to [email protected] . To join the program, please click the link below to fill out the form.

Click here for the application form If you are a faculty, program advisor/coordinator, or student interested in being notified when 2024-2025 AAMP applications open, please fill out this form .

• Programs Overview
• Joint Finance PhD Program

The Kenneth C. Griffin Department of Economics is one of the world's foremost economics departments, and its faculty are renowned for their seminal contributions to the field, achievements recognized with numerous Nobel Prizes, Clark Medals, and other distinctions. Students admitted to doctoral studies research, interact daily with the faculty, as well as fellow graduate students, and pursue their own interests, thus furthering their own scholarship and research, ultimately continuing to shape the discipline itself.

The Department of Economics receives 600-700 applications for an entering class of 20-25 students per year. The number of well-qualified applicants exceeds the number of offers we can make. Nevertheless, we still strongly encourage those interested in graduate economic study to apply.

Welcome incoming Ph.D. students! (alphabetical listing): Pedro Adami Oliboni; Bruno Aravena Maguida; Iris Arbogast; Dylan Baker; Rachel Coroseo Rojas; Amedeus Dsouza; Jacob Hartwig; Xun Huang; Ragini Jain; Tanvi Jindal; Sreyas Mahadevan; Saptarshi Majumdar; Ken Miyahara Coello; Meera Mody; Luke Motley; Shivani Pandey; Tyler Patterson; Santiago Perez Cardona; Henrique Rodrigues da Mota; Berkay Sagin; Stan Xie; Gianluca Yong Gonzalez; Samuel Zhao

  _______________________________________________________________________

Congratulations 2022-2023 Ph.D. Graduates! 2022-2023 PhD graduates (alphabetical listing): Oguz Bayraktar • Sergei Bazylik • Andrew Choi • Neil Cholli • Levi Crews • Yusheng Fei • Agustin Gutierrez • Takuma Habu • Eyo Herstad • Sota Ichiba • Esperanza Johnson Urrutia • Joshua Ka • Daniel Kashner • Jonas Lieber • Jack Light • Jiarui Liu • Andrea Mattia • Hyejin Park • Harshil Sahai • Chun Shea • Younghun Shim • Myungkou Shin • Mateusz Stalinski • Mehrdad Tahvilian

_____________________________________________________________________________

Postdoctoral Program The Kenneth C. Griffin Department of Economics is proud to announce its first year (2023-24) of having a postdoctoral program! 

Selected postdoctoral scholars in the program for 2023-24 are Harshil Sahai (PhD '23) and Esperanza Johnson Urrutia (PhD '23).  Postdoctoral scholars in the program for 2024-25 are Elena Istomina and Shanon Hsuan-Ming Hsu.

STEM Eligibility The PhD program is STEM eligible for international students.

Divisional Graduate Resources

Find divisional Graduate Resources here.

The Economics PhD Program is administered by: Kathryn Falzareno Graduate Student Affairs Administrator SHFE 510 Phone: 773-702-3026 Email: [email protected]

PhD Admissions Application

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Department of Economics

• Undergraduate
• Admission Requirements
• Job Market Candidates

PhD Program Overview

• PhD Program Structure
• Placement History
• Graduate Student Resources
• Graduate Research

The PhD Program

A Letter from the Director of Graduate Studies test

Thank you for your interest in our PhD program.  (Please note: UVa does not offer a terminal M.A. degree in economics. The AEA provides a  list of U.S. programs in economics for those seeking a master's degree.)

The Economics Department is one of over 30 programs within the  Graduate School of Arts and Sciences . The Ph.D. program in Economics provides training for careers in both teaching and research by emphasizing theory, quantitative methods, and early involvement in research.

The success of the program is reflected in our graduates'  job placements , which include highly ranked universities, such as Chicago, Columbia, UCLA, Cornell, Penn State, as well as excellent undergraduate institutions, such as Carleton and Brandeis. In a recent survey, UVA ranked fourteenth among graduate programs in academic placement. Many students also find summer or permanent employment in the nearby Washington area, e.g., at the International Monetary Fund, the World Bank, the Federal Reserve Board of Governors, the Federal Trade Commission, and the Congressional Budget Office.

About twenty students enter our program each year. At any given time there are approximately 80-90 students in residence. Classes are small and students are able to work closely with faculty. Graduate students are provided with two computer labs, both equipped with up-to-date PCs and a wide selection of software.

In addition to taking the core courses in microeconomics, macroeconomics, and econometrics, doctoral students choose two fields of specialization from: Industrial Organization, International Economics, Macroeconomics, Public Economics, Econometrics, Theory, Development, and Labor. Virtually all graded courses can be completed by the end of the second year, so that students can begin dissertation research at an early stage (in the summer after the second year).

During the third and fourth years, students are active in one or more of the regularly scheduled workshops: Theory, Applied Microeconomics, Macroeconomics, Public Economics, Econometrics, Development, and International Economics.

Applications and all credentials must be submitted through the Graduate School of Arts and Sciences'  online application . The non-refundable application fee must be paid online via credit card. If you are eligible for an application fee waiver, please contact the Graduate School when you are ready to apply. The School's Dean of Admissions may waive the fee to members of certain  organizations . However, you should contact me directly if you think that your application may arrive later than the January 15th deadline.

All students who are admitted are offered the same aid package. Financial need will not affect your chances for admission.

Financial assistance to students admitted for Fall 2020 includes $30,000 per year ($24,000 during the academic year, and $6,000 during the summer), along with full tuition remission, and health insurance coverage. The offer is guaranteed for 5 years, conditional on maintaining good standing in the program. Full details are available in the  Financial Aid  section of our admission instructions.

In addition, the Graduate School administers a competitive fellowship program to support a sixth year of study for doctoral students who are poised to complete distinguished dissertations and enter the job market. In 2016-17, twenty-five such fellowships will be offered, and the Graduate School plans to increase this number significantly in the coming years.

Your application and all supporting documents should reach the Graduate Admissions Office by January 15. (We admit students only for the fall semester.) Please note that you will need to present scores from the Graduate Record Examinations (GRE), but the advanced test in economics is not required. Complete details on our admission requirements are provided in the  Admission  section of this web site. If your question is not answered in the following pages, please e-mail Kristina Johnson , the Graduate Program Coordinator.

James Harrigan , Director of Graduate Studies

Department of Economics

Ph.D. Degree Requirements

Degree requirements.

The Ph.D. in Economics requires completion of coursework, preliminary examinations, a third-year paper, and a defended dissertation on original research. Students generally take five years to complete the degree. Please see below for additional details about each requirement.

Coursework Requirements

• First year: Students take mandatory classes in microeconomics, macroeconomics, econometrics, and economic history.
• Second year: Students choose from several field courses to fit their specialization.
• Third year: Some students may finish coursework during this year.

Preliminary Examinations

At the end of the first year in the program, students take preliminary examinations in microeconomics, macroeconomics, and econometrics. A preliminary exam can be repeated once.  

Third-Year Paper

After taking some field classes, students work under the guidance of a faculty member on their first independent research paper. This paper must be submitted in the second semester of the third year. 

Dissertation

The dissertation is the final step towards the Ph.D. and consists of three parts:

• A significant, independent, written research project
• A preliminary defense
• A final defense.

Ph.D. Courses

Formal courses: first-year core.

First-year courses are mandatory for all Economics Ph.D. candidates.

Microeconomics and Macroeconomics

ECON 8000:  Selected Topics in Mathematics for Economists. Mathematics used in the analysis of economic models.  

ECON 8100:  Microeconomic Theory I. Analysis of resource allocation and relative prices. Behavior of individual economic units and markets. Models of technology, cost, and profit and the firm; consumer preferences, constraints, and choice; expected utility theory and risk aversion; partial equilibrium under competition and monopoly; partial equilibrium welfare and surplus.  

ECON 8110:  Microeconomic Theory II. Noncooperative game theory, information economics, public goods. Nash equilibrium, sequential rationality, and incomplete information; oligopoly; bargaining; adverse selection, signaling and screening; principal-agent models; externalities and public goods. Prerequisite: 8100 

ECON 8200:  Macroeconomic Theory I. Dynamic models and solution techniques. Development of models to study growth, business cycles, and government policies. 

ECON 8210:  Macroeconomic Theory II. Inflation and growth, optimal monetary and fiscal policy, overlapping-generations models and money non-neutrality. Prerequisite: 8200 or consent of the instructor and the director of graduate studies. 

Econometrics

ECON 8300:  Statistical Analysis. Statistical methods applicable to quantitative research in economics. Distribution theory, statistical inference, and selected multivariate statistical methods. 

ECON 8310:  Econometrics I. Analysis of specification errors in single-equation estimation of economic relations. Introduction to the estimation and application of simultaneous-equation models. Prerequisite: 8300.  

Economic History

ECON 8400:  Introduction to Economic History. Measurement and theory. Factors associated with modern economic growth and institutional change in various countries and time periods. Prerequisites: 8100 and 8200, or consent of the instructor and the director of graduate studies.  

Formal Courses: Electives

After the first year, students choose from field courses (electives) that fit their specializations.

Advanced Economic Theory

ECON 9110:  Topics in Microeconomics. Advanced theory and applications. Variable topics including auctions, networks, contract theory, social choice, political economy, and market design. May be repeated for credit more than once if there is no duplication in topic. Students may enroll in more than one section of this course each semester. Prerequisite: 8110, or consent of the instructor and the director of graduate studies. 

ECON 9210:  Topics in Macroeconomics. Advanced theory and applications. May be repeated for credit more than once if there is no duplication in topic. Students may enroll in more than one section of this course each semester. Prerequisite: 8210. 

ECON 8320:  Econometrics II. Identification and estimation of econometric models with nonlinearity and/or endogeneity/simultaneity. Asymptotic theory and finite-sample properties of M-estimation and inference. Model building and testing of economic theory. Prerequisite: 8310. 

ECON 9310:  Time Series Econometrics. Methods for estimating structural vector autoregressive models and dynamic economic models, such as maximum likelihood method, Bayesian method, and generalized method of moments. Prerequisite: 8320, or consent of the instructor and the director of graduate studies.  

ECON 9320:  Non-parametric and Semi-parametric Econometrics. Non-parametric and semi-parametric methods for estimation and inference in econometric models. 

ECON 9330:  Microeconometrics. Econometric models and methods for dealing with micro data. Structural and reduced-form approaches. Statistical inference using the models and their applications in IO, labor, health, and elsewhere in economics and social sciences. Prerequisite: 8320, or consent of the instructor and the director of graduate studies.

Economic Development

ECON 9810:  Economic Development. Contemporary theories and empirical studies. Topics include missing markets and market imperfection in developing countries; health, education, and labor market performance in low-income countries; credit, savings and insurance in rural economies; property rights, infrastructure and public provision of goods; intra-household bargaining and allocation; technology adoption; inequality and redistributive policy; and macroeconomic policy. Empirical strategies in development economics. Prerequisite: 8110, 8210, and 8310. 

ECON 9820:  Economic Development. Contemporary theories and empirical studies. Topics include missing markets and market imperfection in developing countries; health, education, and labor market performance in low-income countries; credit, savings and insurance in rural economies; property rights, infrastructure and public provision of goods; intra-household bargaining and allocation; technology adoption; inequality and redistributive policy; and macroeconomic policy. Strategies in development economics. Prerequisite: 8110, 8210, and 8310. 

ECON 9440:  Topics in Economic History: Microeconomic. Examination of various microeconomic aspects of long-term development. Topics include demographic change, labor market outcomes, the development of institutions, industrialization, migration, health, and inequality. Prerequisites: 8310 and 8400.  

ECON 9450:  Topics in Economic History: Macroeconomic. Macroeconomic aspects of long-term development. Economic growth, the development of financial markets and the role of financial markets in economic development, the history and evolution of monetary and fiscal policy, capital market integration, and business cycles, including the Great Depression. Prerequisites: 8310 and 8400. 

Health Economics

ECON 9480:  Health Economics. Conceptual and empirical analysis of demand for health, medical services, and insurance. Causes and consequences of various health risk behaviors. Emphasis on tools and designs of research in modern health economics. Prerequisites: 8110 and 8310, or consent of the instructor and the director of graduate studies.  

ECON 9490:  Health Economics. Conceptual and empirical analysis of the origins of health attributes; joint investments in skill and health capitals; health-related consumption and lifestyles; the value of health, life, and medical innovation; the demand for health insurance; and the supply of health care. Applied econometrics methods, with a particular emphasis on comparisons among alternative methods used in health economics research. Prerequisite: 8110 and 8310. 

Industrial Organization

ECON 9500:  Industrial Organization I. Primary models of imperfect competition. Topics include bargaining; monopoly and oligopoly, allowing for differentiated products and incomplete information. Applications include quality provision and product pricing; consumer search for the lowest price; auctions; network externalities; innovation and market structure; liability and market structure; the theory of the firm; and settlement bargaining. Prerequisite: 8110  

ECON 9510:  Industrial Organization II. Emphases on empirical research in the field and application of models. Consumer demand for differentiated products, static games of imperfect competition, dynamic models of individual choice, dynamic games of imperfect competition, and the estimation of production functions. Prerequisites: 8320 and 9500, or consent of the instructor and the director of graduate studies.

International Economics

ECON 9600:  International Trade Theory. Trade and growth. Models and empirical evidence. Commercial policy, tariffs, the terms of trade and income distribution, international factor movements, and trade agreements. Prerequisite: 8110.  

ECON 9610:  International Macroeconomics. Neoclassical and New Keynesian international business cycle models; interaction of asset markets and goods markets. Dynamic models of exchange rates, relative prices, and the trade balance. Monetary and fiscal policy in the open economy. Simulation and estimation of business cycle models. Prerequisite: 8210, or consent of the instructor and the director of graduate studies.

Labor Economics

ECON 9550:  Labor Economics. Static and dynamic models of labor demand and labor supply, and models of human capital development. Applications of the theory to migration, fertility, health, wage determination, education, unionism and industrial relations, employment policies, implicit contracting and layoffs, and discrimination. Methodological problems related to the analysis of labor markets. Prerequisite: 8110 and 8310. 

ECON 9560:  Labor Economics. Static and dynamic models of labor demand and labor supply, and models of human capital development. Applications of the theory to topics such as migration, fertility, health, wage determination, education, unionism and industrial relations, employment policies, implicit contracting and layoffs, and discrimination. Methodological problems related to the analysis of labor markets. Prerequisite: 8110 and 8310.

Money and Financial Institutions

ECON 9250:  Theory of Money and Finance I. Advanced topics in monetary and financial economics theory and applications. Recently developed dynamic theories of money and asset pricing. Inflationary dynamics; money, welfare, and growth; money and business cycles; financial development and growth; credit market imperfections and financial crises. Prerequisites: 8210.  

ECON 9260:  Theory of Money and Finance II. Analyses of microeconomic foundations and general equilibrium models of money and financial markets. Theory of payments structure, capital asset pricing, rational expectations, efficient markets, and contingent claims markets. Prerequisite: 8210.

Public Economics

ECON 9710:  Public Economics: Expenditure. Analysis of issues. Possible topics include externalities, public goods, local public goods, and aspects of public choice and voting theory. Prerequisite: 8110.  

ECON 9720:  Public Economics: Taxation. Analysis of issues. Possible topics include: optimal taxation theory, tax reform, tax incidence, behavioral impacts of taxation, dynamic taxation, tax competition, and the political economy of taxation. Prerequisite: 8810  

Non-Formal Reading and Research Courses

Reading and research.

ECON 8981:  Reading Course. Intensive study in an area of special interest beyond regular course offerings. Prerequisites: consent of the instructor and the director of graduate studies. 

ECON 8982:  Reading Course. Intensive study in an area of special interest beyond regular course offerings.  

ECON 8999:  Non-candidate Research. Prerequisites: consent of the instructor and the Economics Director of Graduate Studies. 

ECON 9890:  Workshop on Economics. Research seminar to aid advanced students in the selection of thesis topics and presentation of research papers. Topics covered depend on interests of students and faculty.  

ECON 9999:  Ph.D. Dissertation Research.  

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MRes/PhD Economics

• Graduate research
• Department of Economics
• Application code L1U4
• Starting 2024
• Home full-time: Closed
• Overseas full-time: Closed
• Location: Houghton Street, London

This programme offers you the chance to undertake a substantial piece of work that is worthy of publication and which makes an original contribution to the field of economics. You will begin on the MRes degree, and will need to meet certain requirements to progress to the PhD.

The Department of Economics pioneered the development of systematic research training in economics in Britain and our MRes/PhD Economics aims for the highest international standard of achievement and professional competence. The programme offers structured research training and supervision by faculty prominent in their fields. It begins with two years of rigorous coursework, equipping you with the theoretical knowledge and analytical techniques necessary to proceed to the research component of the programme. 

Many research students are associated with the work of one of LSE's research centres. You could work with the Suntory and Toyota International Centres for Economics and Related Disciplines on areas ranging from development economics to public policy; or on research technology, growth and globalisation as part of the Centre for Economic Performance . You could contribute to major research programmes addressing the key issues of unemployment, inflation, fiscal and monetary policy, macroeconomic development and growth, financial markets, and changes in the world economy at the  Centre for Macroeconomics ; or specialise in risk management, asset pricing, financial institutions and corporate finance as part of the Financial Markets Group .

Programme details

For more information about tuition fees and entry requirements, see the fees and funding and assessing your application sections.

Entry requirements

Minimum entry requirements for mres/phd economics.

An upper second class honours (2:1) degree (or equivalent) in any field. Some preparation in economics, a strong mathematics background and evidence of research potential are essential. The goal of the MRes/PhD Economics is to train first class researchers. We will use all available information to assess research potential.

Competition for places at the School is high. This means that even if you meet our minimum entry requirement, this does not guarantee you an offer of admission. 

If you have studied or are studying outside of the UK then have a look at our  Information for International Students  to find out the entry requirements that apply to you.

GRE/GMAT requirement

GRE is required for all applicants. This must be no more than five years old on 1 October 2024 and must show full and percentile scores for all three sections. Most successful MRes/PhD Economics applicants score 166 or above in the quantitative section.

Find out more about GRE/GMAT

Assessing your application

We welcome applications for research programmes that complement the academic interests of members of staff at the School, and we recommend that you investigate  staff research interests  before applying.

We carefully consider each application on an individual basis, taking into account all the information presented on your application form, including your:

- academic achievement (including existing and pending qualifications) - statement of academic purpose - references - CV - research statement - GRE/GMAT

See further information on supporting documents

You may also have to provide evidence of your English proficiency. You do not need to provide this at the time of your application to LSE, but we recommend that you do.  See our English language requirements  for further information.

When to apply

The application deadline for this programme is 14 December 2023 . However, to be considered for any LSE funding opportunity, you must also have submitted your application and all supporting documents by this deadline. See the fees and funding section for more details.

Research statement

An application for entry to the MRes/PhD Economics should include a Research Statement, along with other required information  (Note: A separate sample of written work is not required as part of the MRes/PhD Economics application).

What should my Research Statement contain?

Your Research Statement should be submitted in place of the Outline Research Proposal, along with your application form and other required supporting documents, via the LSE online application system.

Please answer the following questions clearly and concisely. Max 200 words per question.

• Why do you want to do research in economics?
• Can you explain how your studies and experience make you suitable to do research in economics?
• Which aspect of the PhD do you think you will like the most? Which will you dislike the most? Why?
• Tell us about your favourite paper in economics. What do you like about it? How would you improve it?
• Write a comment for a general audience on ONE of the following topics  (i) Is inequality good for growth?   (ii) Do immigrants take the jobs of native workers?   (iii) Is CEO compensation excessive?  (iv) Is universal minimum income a good idea?  (v) Overall, has central banks' move to inflation targeting has been a success?  (vi) Is culture an important determinant of differences in income per capita across countries?  (vii) Markets function well as information is aggregated efficiently through prices.  (viii) Elections are effective at disciplining politicians who do not have the public interest as their main goal.

How can I demonstrate research potential?

If you have served as research assistant for an economist please ask that person to write a letter focussing on your research skills and describe your experience – reference point 2 (above) of the research statement.

If not, please list any evidence you think would be valuable. Examples include but are not restricted to: experience working autonomously under stress without any guidance, demonstration of creativity in any form, experience of writing original research.

Fees and funding

Every research student is charged a fee in line with the fee structure for their programme. The fee covers registration and examination fees payable to the School, lectures, classes and individual supervision, lectures given at other colleges under intercollegiate arrangements and, under current arrangements, membership of the Students' Union. It does not cover  living costs  or travel or fieldwork.

Tuition fees 2024/25 for MRes/PhD Economics

Home students: £4,829 for the first year (provisional) Overseas students: £22,632 for the first year

The fee is likely to rise over subsequent years of the programme. The School charges home research students in line with the level of fee that the Research Councils recommend. The fees for overseas students are likely to rise in line with the assumed percentage increase in pay costs (ie, 4 per cent per annum).

The Table of Fees shows the latest tuition amounts for all programmes offered by the School.

The amount of tuition fees you will need to pay, and any financial support you are eligible for, will depend on whether you are classified as a home or overseas student, otherwise known as your fee status. LSE assesses your fee status based on guidelines provided by the Department of Education.

Further information about fee status classification.

Scholarships, studentships and other funding

The School recognises that the  cost of living in London  may be higher than in your home town or country, and we provide generous scholarships each year to home and overseas students.

This programme is eligible for  LSE PhD Studentships , and  Economic and Social Research Council (ESRC) funding . Selection for the PhD Studentships and ESRC funding is based on receipt of an application for a place – including all ancillary documents, before the funding deadline. 

For the MRes/PhD Economics, the funding deadline is the same as the application deadline for the programme: 14 December 2023

The Economics Department also has a number of scholarship packages for direct entry MRes/PhD students. After the first year of the MRes/PhD Economics, there are teaching and research assistantships available in the Department. Read more about funding opportunities through the  Economics Department .

In addition to our needs-based awards, LSE also makes available scholarships for students from specific regions of the world and awards for students studying specific subject areas.  Find out more about financial support.

External funding

There may be other funding opportunities available through other organisations or governments and we recommend you investigate these options as well.

Further information

Fees and funding opportunities

Information for international students

LSE is an international community, with over 140 nationalities represented amongst its student body. We celebrate this diversity through everything we do.  

If you are applying to LSE from outside of the UK then take a look at our Information for International students . 

1) Take a note of the UK qualifications we require for your programme of interest (found in the ‘Entry requirements’ section of this page). 

2) Go to the International Students section of our website. 

3) Select your country. 

4) Select ‘Graduate entry requirements’ and scroll until you arrive at the information about your local/national qualification. Compare the stated UK entry requirements listed on this page with the local/national entry requirement listed on your country specific page.

Programme structure and courses

Introductory course (mres).

In early September, before the academic year commences, you will begin your degree programme by taking the Introductory Mathematics and Statistics course.

First year (MRes)

In the first year of the programme you will take advanced core courses in microeconomics, macroeconomics and econometrics, to equip you with the theoretical knowledge and analytical techniques necessary for research. Permission must be obtained to sit Econometric Analysis as it is intended for students with a strong econometric background and an interest in pursuing a PhD with econometrics as the primary field.

Microeconomics for MRes students Introduces the basic analytical tools that are necessary to conduct research in any field in economics.

Macroeconomics for MRes students Covers topics in advanced macroeconomics with emphasis on fundamentals and applications to recent theoretical advances. Either Econometrics for MRes students Covers inference, classical and generalised linear regression, generalised regression methods, time-series, panel-data, and microeconometric methods, and specialised econometric methods. Or Econometric Analysis Gives an advanced treatment of the theory of estimation and inference for econometric models.

Second year (MRes)

In the second year, you will typically take two PhD field courses and write a research paper in your major field. Currently, there are economics PhD field courses covering: econometrics, international, labour, public, development, industrial, microeconomics, macroeconomics, political economy. In addition, there are PhD field courses offered in Corporate Finance and Asset Pricing. From the second year onwards, you will also participate in a departmental research seminar and a work in progress seminar allied to your major research field.

Research Paper in Economics A research paper, between 5,000 and 10,000 words, related to the student's designated major field, to be submitted mid-way through the Spring Term.

Two courses from a range of options

Upon successfully completing the MRes and progressing to the PhD, you will work on your research and write your PhD thesis. You will also take one further PhD field course. You will also attend Work in Progress seminars, where you present your research, as well as the weekly departmental seminar series closest to your major field.

One course from a range of options.

Second and subsequent years of the PhD programme

You will continue to work on your research and write a PhD thesis. You will also continue to attend Work in Progress seminars, where you present your research, as well as the weekly departmental seminar series closest to your major field.

For the most up-to-date list of optional courses please visit the relevant School Calendar page .

You must note, however, that while care has been taken to ensure that this information is up to date and correct, a change of circumstances since publication may cause the School to change, suspend or withdraw a course or programme of study, or change the fees that apply to it. The School will always notify the affected parties as early as practicably possible and propose any viable and relevant alternative options. Note that the School will neither be liable for information that after publication becomes inaccurate or irrelevant, nor for changing, suspending or withdrawing a course or programme of study due to events outside of its control, which includes but is not limited to a lack of demand for a course or programme of study, industrial action, fire, flood or other environmental or physical damage to premises.  

You must also note that places are limited on some courses and/or subject to specific entry requirements. The School cannot therefore guarantee you a place. Please note that changes to programmes and courses can sometimes occur after you have accepted your offer of a place. These changes are normally made in light of developments in the discipline or path-breaking research, or on the basis of student feedback. Changes can take the form of altered course content, teaching formats or assessment modes. Any such changes are intended to enhance the student learning experience. You should visit the School’s  Calendar , or contact the relevant academic department, for information on the availability and/or content of courses and programmes of study. Certain substantive changes will be listed on the  updated graduate course and programme information  page.

Supervision, progression and assessment

Supervision.

You will be assigned a lead supervisor (and a second supervisor/adviser) who is a specialist in your chosen research field, though not necessarily in your topic. Lead supervisors guide you through your studies.

Progression and assessment

In order to progress to each subsequent year of the programme, and to progress to PhD registration, you will need to meet specific progression requirements, such as achieving certain grades in your coursework.

Your final award will be determined by the completion of an original research thesis and a viva oral examination.

More about progression requirements

Student support and resources

We’re here to help and support you throughout your time at LSE, whether you need help with your academic studies, support with your welfare and wellbeing or simply to develop on a personal and professional level.

Whatever your query, big or small, there are a range of people you can speak to who will be happy to help.  

Department librarians   – they will be able to help you navigate the library and maximise its resources during your studies. 

Accommodation service  – they can offer advice on living in halls and offer guidance on private accommodation related queries.

Class teachers and seminar leaders  – they will be able to assist with queries relating to specific courses. 

Disability and Wellbeing Service  – they are experts in long-term health conditions, sensory impairments, mental health and specific learning difficulties. They offer confidential and free services such as  student counselling,  a  peer support scheme  and arranging  exam adjustments.  They run groups and workshops.  

IT help  – support is available 24 hours a day to assist with all your technology queries.   

LSE Faith Centre  – this is home to LSE's diverse religious activities and transformational interfaith leadership programmes, as well as a space for worship, prayer and quiet reflection. It includes Islamic prayer rooms and a main space for worship. It is also a space for wellbeing classes on campus and is open to all students and staff from all faiths and none.   

Language Centre  – the Centre specialises in offering language courses targeted to the needs of students and practitioners in the social sciences. We offer pre-course English for Academic Purposes programmes; English language support during your studies; modern language courses in nine languages; proofreading, translation and document authentication; and language learning community activities.

LSE Careers  ­ – with the help of LSE Careers, you can make the most of the opportunities that London has to offer. Whatever your career plans, LSE Careers will work with you, connecting you to opportunities and experiences from internships and volunteering to networking events and employer and alumni insights. 

LSE Library   –   founded in 1896, the British Library of Political and Economic Science is the major international library of the social sciences. It stays open late, has lots of excellent resources and is a great place to study. As an LSE student, you’ll have access to a number of other academic libraries in Greater London and nationwide. 

LSE LIFE  – this is where you should go to develop skills you’ll use as a student and beyond. The centre runs talks and workshops on skills you’ll find useful in the classroom; offers one-to-one sessions with study advisers who can help you with reading, making notes, writing, research and exam revision; and provides drop-in sessions for academic and personal support. (See ‘Teaching and assessment’). 

LSE Students’ Union (LSESU)  – they offer academic, personal and financial advice and funding.  

PhD Academy   – this is available for PhD students, wherever they are, to take part in interdisciplinary events and other professional development activities and access all the services related to their registration. 

Sardinia House Dental Practice   – this   offers discounted private dental services to LSE students.  

St Philips Medical Centre  – based in Pethwick-Lawrence House, the Centre provides NHS Primary Care services to registered patients.

Student Services Centre  – our staff here can answer general queries and can point you in the direction of other LSE services.  

Student advisers   – we have a  Deputy Head of Student Services (Advice and Policy)  and an  Adviser to Women Students  who can help with academic and pastoral matters.

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Want to find out more? Read why we think  London is a fantastic student city , find out about  key sights, places and experiences for new Londoners . Don't fear, London doesn't have to be super expensive: hear about  London on a budget . 

Student stories

Hanwei Huang MRes/PhD Economics, 2018 China

I am a PhD student studying economics in the LSE. I am also affiliated with the Centre of Economic Performance (CEP), one of the largest research centres in the LSE. My main research interest is international trade.

One thing that I have learned from the faculties is that economics is not just about mathematics, it should answer interesting economics questions. Over the past few years in the LSE, I have been conducting a few research related to China. This is not surprising given my Chinese origin. Given the anti-globalization current that we have been witnessing, it is also quite relevant to the academic and policy circle to understand how China has become a global manufacturing power house and the champion of global trade.

My work features a close link between theory and empirics, another lesson I have learned in the LSE. My first piece of work done in the LSE focuses on the evolving structure of Chinese production and export. My second paper, which is a joint work with my supervisor Professor Ottaviano, studies how Chinese exporter producing multiple products respond to competition due to comparative advantage. My current research project studies how the domestic infrastructure construction boom that has been taking place in China has enabled China to make better use of globalization.

The most exciting part of LSE is that we are seated near the centre of the UK policy-making. I am fortunate enough to be able to be on a team from the CEP which has been studying various issues related to Brexit. It is only by doing this bit of work that I have seen how LSE research has shaped the debate in the media and the UK parliament.

As a one of the largest economics departments in the world, with numerous seminars and visitors every week, you bump into various people all the time. You might run into a workshop introducing machine learning. You might also hear people talking about big data in the Bean Counter, where we have our coffee. And I am very glad to be one of them here.

Stephan Maurer MRes/PhD Economics, 2017 Germany

I came to the LSE in 2011 after having completed my MSc in Economics at the Barcelona Graduate School of Economics. Already during my undergraduate studies in St. Gallen, I had gotten hooked to economics and to the idea of doing a PhD, and my time in Barcelona further confirmed this.

My research is in applied economics broadly, at the intersection of labour economics, political economy, and economic history. Economic history is for me both a tool and an end itself - I am interested in better understanding historical events, but I also frequently use exogenous variation provided by history to study questions in labour economics and political economy.

What I really like about research and the academic profession is that it offers a lot of freedom and allows me to work independently on a variety of issues. For example, I have studied determinants of city growth in Iron Age Europe, but also local economic effects of resource booms in the early 20 th century US South. I also enjoy teaching - during my time here, I have taught various courses and have found it very enriching. Being asked to explain concepts such that students can understand them often has deepened my own understanding. In this respect, I particularly enjoyed teaching in the MPA and MSc Programmes.

Research can also be frustrating. It involves a great deal of failed projects, ideas that do not materialize, and work that does not reap rewards. It is also very discontinuous - you can make great progress in few days, or feel like you’re banging your head against a wall for months. I was lucky to have two very dedicated supervisors to guide me through my PhD, helping me triage my ideas, strengthening my results by constantly questioning them, but also cheering me up when needed. My colleagues and friends at the LSE have also been a great help, not only but especially those from my cohort. Studying for the first year exams and going through the first research steps together has created a lot of cohesion and friendships that I am sure will continue to last for a long time.

After finishing my PhD, I will be joining the Department of Economics at the University of Konstanz as an Assistant Professor. I am very much looking forward to this new endeavour, but I will make sure to be back in London and at the LSE from time to time!

Preliminary reading

Readings are included in the respective course guides in the Calendar .

Quick Careers Facts for the Department of Economics

Top 5 sectors our students work in:

• Financial and Professional Services              
• Education, Teaching and Research            
• Government, Public Sector and Policy   
• Consultancy      
• Advertising, Marketing, PR Media, Entertainment, Publishing and Journalism

The data was collected as part of the Graduate Outcomes survey, which is administered by the Higher Education Statistics Agency (HESA). Graduates from 2020-21 were the fourth group to be asked to respond to Graduate Outcomes.

Students who successfully complete the programme often embark on an academic career. See information on the placements of previous students on this programme . 

Further information on graduate destinations for this programme

Starting from the second year of the MRes, students are encouraged to undertake some class teaching in the Department, as this represents useful professional training. Additional information about teaching in the Department .

Support for your career

Many leading organisations give careers presentations at the School during the year, and LSE Careers has a wide range of resources available to assist students in their job search. Find out more about the  support available to students through LSE Careers .

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Webinars, videos, student blogs and student video diaries will help you gain an insight into what it's like to study at LSE for those that aren't able to make it to our campus.  Experience LSE from home . 

Come on a guided campus tour, attend an undergraduate open day, drop into our office or go on a self-guided tour.  Find out about opportunities to visit LSE . 

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Student Marketing, Recruitment and Study Abroad travels throughout the UK and around the world to meet with prospective students. We visit schools, attend education fairs and also hold Destination LSE events: pre-departure events for offer holders.  Find details on LSE's upcoming visits . 

How to apply

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Related programmes, msc econometrics and mathematical economics.

Code(s) L1UB

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Code(s) L7ZQ

MPhil/PhD Environmental Economics

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The department of Economics at Harvard University is committed to seeking out and mentoring scholars who wish to pursue a rigorous and rewarding career in economic research. Our graduates are trailblazers in their fields and contribute to a diverse alumni community in both the academic and non-academic sectors. We invite you to learn more about the PhD program in Economics . Have questions about applying? Please thoroughly check the GSAS admission website before emailing us at: [email protected] . 

Harvard does not discriminate on the basis of race, color, sex, sexual orientation, gender identity, religion, age, national origin, political beliefs, veteran status, or disability unrelated to job or course of study requirements, and we actively  seek applicants  from historically underrepresented communities. We hope you’ll consider applying. Immigration status does not factor into decisions about admissions and financial aid. For more information, see  Undocumented at Harvard . 

Apply to Economics @Harvard

Application Requirements

• Completed online application form (Must be completed by December 1st)
• Statement of Purpose
• Transcripts for all college/university degrees and courses Self-reported transcripts are accepted for both all programs at the application stage. Applicants must upload copies of his/her transcripts to the online application system. Hard copy transcripts will only be required if admitted to a program, prior to enrollment.
• Current GRE scores
• TOEFL or IELTS scores (non-native English speakers see details below)
• Three letters of recommendation (at least one from an academic source). Recommendation letters must be submitted online through the online application system. 
• Application fee 
• Writing sample (at least 15 pages in length)

All applicants are required to take the  General Test of the Graduate Record Examination  (GRE). Test scores are valid for five years (scores must be from no earlier than January 5, 2019 for Fall 2024 admission). Applicants are, however, advised to take the exam no later than mid-November. There is no minimum test score requirement. A department code is not required for score submission. Institution Codes for PhD Programs GRE: 3451

Financial Aid

All admitted students are awarded a financial package which includes tuition, single-person health insurance, living stipend for the first two years, teaching and research assistant stipends and a completion fellowship in the final year of the program.

International Applications

Adequate command of spoken and written English is required for admission. Applicants whose native language is other than English and who do not hold a Bachelor's degree or its equivalent from an institution at which English is the language of instruction must submit  TOEFL  or IELTS scores.

TOEFL/IELTS scores are valid for two years. (scores must be from no earlier than January 5, 2022 for Fall 2024 admission). The committee prefers scores of at least 100 on the internet-based test.  Institution Codes for Toefl score reports PhD programs: 3451

Reapplicants

Applicants who applied last year are considered reapplicants. Those reapplying must submit a completely new application. The new application must include all required documents to be provided by the applicant - we will not re-use material previously submitted. These materials include an updated statement of purpose, transcripts, test score reports, updated letters of recommendation, the application fee, and any other supporting materials

Please note, Harvard University will accept no more than three applications from any one individual over the course of his/her lifetime.

Applying to more than one Program

Harvard has several PhD programs that may also be of interest to students considering applying to the PhD program in economics. These include Business Economics, Political Economy and Government, Public Policy, and Health Policy.  Many students in these programs have considerable overlap in their coursework with courses offered to PhD students in economics.   Many also have dissertation committees that include faculty members of the economics department. Please refer to the Graduate School of Arts and Sciences for applicable program deadlines.  (Deadlines have already passed for some programs this year but not for others.) We encourage those with interest in any of those programs to also apply to those programs. The economics department will make admissions decisions independently, so application to or admission to other programs will not adversely affect admissions decisions within the Economics department. If you opt to apply, please note, the Graduate School will not accept more than three applications from any individual during the course of his or her academic career. 

Application Assistance and Mentoring Program

Many students interested in an economics PhD experience disparate degrees of support in the application process. The Application Assistance and Mentoring Program (AAMP) aims to mitigate these gaps by helping students from underrepresented groups connect with a graduate student mentor in MIT or Harvard’s PhD economics programs. These mentors can provide:

• Advice on graduate school and fellowship applications, including questions about the application process and feedback on application materials.

• Information about economics research, life as a PhD student or in an academic career, for students who are deciding whether a PhD in economics is the right choice for them.

The AAMP aims to increase the pipeline of diverse talent in economics PhD programs and welcomes participation from all groups underrepresented in economics, including but not limited to: Black, Hispanic-Latinx, Native American, low-income, and LGBTQ+ students, women, students with disabilities, and students who are the first in their families to go to college. The AAMP welcomes participation among students at various stages of their economics studies, including undergraduates and college graduates. The AAMP is open to students who are curious about the academic economics experience and interested in figuring out if it’s right for them. 

Interested participants should fill out the application linked below. We will accept applications until July 17th, 2023. Mentorship will begin over the summer and continue through Fall 2023. Mentees who prefer to meet for a single “coffee chat” may indicate their preference on the form. We will do our best to match all interested applicants with a mentor; however, demand may exceed the availability of mentors.

Please note that the MIT / Harvard Economics AAMP is a volunteer-based, student-run program. This program is not considered part of the admissions process for the Economics PhD at MIT or Harvard, nor will any student's participation in the AAMP be considered by the Graduate Admissions Committee at either school.

Please direct any questions to [email protected] . To join the program, please click the link below to fill out the form.

Application Assistance and Mentoring Program Form

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The University of Maryland’s STEM-designated doctoral program in Economics is ranked in the top 20 economics programs in the country in the most recent National Academy of Sciences study. The Department has about 38 faculty members. The size and diversity of the faculty permits study in virtually every major theoretical and applied area of economics including advanced macro, advanced micro, behavioral and experimental economics, comparative institutional economics, econometrics, economic development, economic history, environmental and natural resource economics, industrial organization, international trade and finance, labor economics, political economy, and public economics.

Although it is a large department, Maryland emphasizes close student-faculty interaction. Students are encouraged to meet frequently with their advisors to discuss their progress in the program. An active set of workshops provides a supportive environment for students who are working on their dissertations. Graduate faculty members are regularly accessible to students.  

The Department's location near Washington, DC, allows our students to benefit from our faculty’s relationship with executive agencies, congressional policy analysts, and international finance organizations.

Submitting GRE scores is optional for Fall 2024 admission.

In order to receive funding as a TA, which is the standard funding package we offer to incoming PhD students, you meet the English Language requirements determined by the Maryland English Institute:   https://marylandenglishinstitute.com/english-programs/international-teaching-assistants/ . As of December 2023, the requirements include a minimum of 24 on the speaking section; the requirements are subject to change by the Maryland English Institute and the University of Maryland Graduate School.  A lower score precludes receiving a TA position and necessitates taking an English course that would interfere with taking the standard first year course sequence in Economics.  Therefore, we require applicants to meet the University’s English proficiency requirement at the time of admission. Unfortunately, we are unable to make conditional offers.

Our application deadline for Fall 2025 is December 2, 2024.

Contact Information:

Department of Economics University of Maryland College Park, MD 20742 Phone: 301-405-3544 Email: vfletche [at] umd [dot] edu

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

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

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

Program Snapshot

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

Application Deadlines

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

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

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

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

Dr. Omari Swinton

Gail pritchett, program details.

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

Admission Requirements

Application for admission.

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

GRE Required?

Gre preferred minimums    .

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

GPA Required Minimums    

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

Prerequisite Courses 

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

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

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

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

Reference Requirements     

Evaluator type accepted:

• Professor (Required)
• Supervisor/Manager

Evaluator type not accepted:

• Family Member

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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)

College of Liberal Arts & Sciences

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MSPE Curriculum

The MSPE curriculum consists of  four mandatory core courses  plus  six or more elective courses  in different areas of specialization. This may be completed within one to two years. The minimum grade point average to retain eligibility and graduate from the program is 3.0 (out of 4.0).

Students are required to take the  Core Requirements ,  Specialization Area , and the  Elective Courses as part of the MSPE Curriculum.

Approval must be received for students to follow the Ph.D. Track .

Required Curriculum

Econ 500 (Microeconomics), Econ 501 (Macroeconomics), Econ 502 (Economic Statistics), and Econ 503 (Econometrics). All students must take Econ 500 and Econ 502 in their first semester in the program and Econ 503 in their second semester. Econ 501 may be taken either in the first or the second semester.

All students must have at least one field of specialization. A field of specialization consists of two or more elective courses in a particular area with at least one of the courses being at the 500 level.

See the Specialization section for more information.

All students must take at least 6 additional elective courses (besides core courses). Two of the elective courses can be from other departments. However, if they are to be counted towards the degree requirements of the program, they must be approved by the program's director.

Minimum  of 40 graduate credit hours (equivalent to ten 4-credit-hour courses). There is no thesis option.

Additional Curriculum Requirements

All students have to maintain a minimum cumulative GPA of 3.0 (B) at the end of each semester. If a student's cumulative GPA goes below 3.0, he/she will be put on probation and will have one semester to raise his GPA to 3.0 (or above). No student can graduate with a final cumulative GPA of less than 3.0 (B).

Minimum length of stay  in the program is one calendar year (fall and spring semesters plus summer session). The maximum length of stay is two years.

• Minimum semester load   (including required ESL courses): 12 credit hours. [Students are allowed to carry a less than 12-credit hours only in one semester. Two letters, one from the student's sponsor (if he/she has a government or private-sector sponsor) and the other from the International Students & Scholars Services (ISSS) authorizing a reduced load, are required for this purpose.]
• Maximum semester load :  Fall and spring 16 credit hours, summer 8 credit hours. Any course load beyond these must be approved by the director of the program.

All students must be enrolled in at least one econ course every semester. No student is allowed to take all his/her semester courses from the outside of the Department of Economics.

MSPE Contact Information

205 David Kinley Hall 1407 West Gregory Drive Urbana, IL 61801 (map)

Phone: (217) 333-7651 Fax: (217) 244-7368 Email:  [email protected]

The journey to a PhD: Four graduates of the Consumer Behavior & Family Economics program reflect on their experiences

Spring 2024 commencement celebrated the largest graduating cohort to date of the PhD Human Ecology: Consumer Behavior & Family Economics (CBFE) program. Upon graduating, Somalis Chy , Vivekananda Das , Xiangchen Liu and Yiling Zhang joined a select 1 percent of the U.S. population who have earned a PhD degree.

The PhD program is housed within the UW–Madison School of Human Ecology and broadly aims to understand how humans interact with their lived environments. CBFE graduate students use social science theories to examine how market structures and policy, along with consumer decision-making, impacts the social and economic well-being of individuals and families. This PhD degree aims to prepare students not only for tenure-track academic faculty positions, but also for roles in industry, nonprofits and government.

Zhang will join the University of Alabama as a faculty member, and Das will join the University of Utah’s Department of Family and Consumer Studies as a tenure-track assistant professor. Chy recently accepted a postdoctoral research associate position at the Brown School for social work, public health and social policy, part of Washington University in St. Louis. Liu is actively applying for academic, postdoctoral roles.

In the following Q&A, the graduating cohort reflected on how they’ve grown as academic researchers and discussed their experience as Human Ecology graduate students:

How has the CBFE program and the School of Human Ecology prepared you for post-graduation plans?

Das: The core courses provided me with a solid foundation of social science theories and methods for investigating issues impacting individual and household well-being. The opportunity to work closely with my advisor J. Michael Collins (Fetzer Family Chair in Consumer and Personal Finance and professor of Consumer Science) and other faculty members in various roles also helped me become an independent thinker.

Liu: Throughout my PhD journey, my advisor Megan Doherty Bea (assistant professor of Consumer Science) has provided tremendous support in my research, inspiring me to continue my work and pursue academic positions. Collaborating with other faculty members, such as Yiwei Zhang (assistant professor of Consumer Science), has enabled me to gain additional research experience and skills. The core courses, such as Family Economic Policy, have equipped me with essential knowledge for conducting my research.

Chy: I learned that I love doing research that expands my knowledge and engages me in meaningful conversations about personal lives, work and well-being. I also learned how much faculty members and Human Ecology staff care and invest in each student’s journey. Does all of this prepare me for what’s next? I think so! Discovering what you love to do is not easy. This newfound love and the relationships I have built are the things that I will take with me wherever I go.

Zhang: My experience has been pivotal in shaping me into an independent researcher. I have developed essential skills in research methodology, paper drafting for publication and networking within the academic community. I would like to express my sincere gratitude to all the faculty members who have supported me throughout my academic journey, especially my advisor Yiwei Zhang, whose guidance and mentorship have been invaluable in shaping my research and professional development.

What support did you receive as a Human Ecology graduate student?

Liu: I received funding from the school to attend conferences with the Association for Public Policy Analysis and Management (APPAM), the Population Association of America and the Midwest Economics Association . All of them were enjoyable, and I particularly loved APPAM, which is an excellent venue for my research and for meeting people who share similar interests.

Zhang: I received significant support from the Human Ecology staff, particularly in caring about my mental well-being. For instance, Michelle Holland (assistant dean for graduate programs) has consistently been my main source of support during stressful times. The dedication and encouragement of the staff have been instrumental in guiding me through the challenges of my PhD journey, fostering an environment conducive to both academic and personal development.

Chy: The School of Human Ecology has provided me with plenty of opportunities and training in preparation for attending conferences, from giving presentations and elevator pitches to networking. I met and built networks that include students and faculty members from different departments across UW–Madison, other universities, government agencies, social policy think tanks and research institutes.

Das: The opportunity to receive funding to attend conferences helped me share my research findings with the wider academic community. I received constructive criticism from my peers, which helped me become more critical of my work. Also, I won the Certified Financial Planner Board’s American Council of Consumer Interests (ACCI) Financial Planning Paper Award in 2023 and the Consumer Movement Archives Applied Consumer Economics Award in 2024!

What have you taken away from learning opportunities, like the Human Ecology Professional Development Seminar?

Zhang: The Human Ecology Professional Development Seminar offered practical training, such as effective job negotiation strategies provided by Dean Soyeon Shim (Elizabeth Holloway Schar Dean of the School of Human Ecology and Ted Kellner Bascom Professor of Consumer Science). I successfully applied these strategies to secure additional startup funds.

Das: The professional development seminar was where I learned about things I wouldn’t have learned in a traditional classroom environment. In particular, Dean Shim’s Job Negotiation Workshop was extremely helpful in learning how to negotiate job offers. Knowing more about the dean’s roles and expectations in the academic hiring process helped me communicate more confidently and effectively with the deans of the colleges who invited me for on-campus visits.

Chy: Cadin Tonković-Ćapin (graduate program specialist) was an amazing leader for putting together the professional development seminar series, filled with useful information. Michelle Holland was also impactful in providing guidance on strategically asking and answering questions during the job search, application and interview processes. I appreciate all of their efforts!

What advice would you give yourself when you were starting the program?

Chy: I would say to have more trust in myself, my abilities and this journey, because I was on the right track.

Das: Throughout the journey, perhaps I focused too much on perfecting each step, often forgetting where the destination was. If I could do it all over again, I would probably learn to begin with the end in mind. But, of course, it is easier said than done!

Zhang: I would emphasize the importance of proactive communication with faculty and the exploration of theory-based seminar courses. These actions would have allowed me to discover my research interests more efficiently and inspire innovative dissertation ideas from the outset.

Liu: Earning a PhD is a long journey. You will encounter many difficulties in both research and life. However, you will also meet smart and fantastic people, and you can learn so much from them. Not everyone has the opportunity to experience this, so enjoy it!

PhD-position in Operations Research

Job Information

Offer description.

The Department of Quantitative Economics at Maastricht University School of Business and Economics is looking to fill a PhD position. Requirements In multiple domains, there can be a welfare gain when parties work together. These cooperations lead to centralized optimization problems, where the total system is optimized. Such an optimization algorithm produces a solution and provides it to the various parties in the system. However, as said, this combined solving gives a welfare benefit; this solution is overall better compared to the situation when all parties would have optimized their own situation. This gain should be divided fairly amongst the parties. There are multiple techniques to do that, based on e.g. the Shapley value or the Gini Welfare function. To use the Shapley value, the original, computational expensive, secure optimization problem must be solved multiple times, adding much (time) complexity to the procedure. However, in many cases the various parties do not want to share information, not even the information needed to come to this central optimal solution. Secure multi-party computation (MPC) is a subfield of cryptography with the goal of creating methods for parties to jointly compute a function over their inputs while keeping those inputs private. This technique can not only be used in optimization, but also in the process of dividing the welfare gain. Note that making a method secure will, in most cases, create additional complexity to the calculations. This leads to the main goal of this project: create novel, secure, fair, and efficient welfare distribution mechanisms for secure (integer) optimization problems. The project will be based on two real world use cases:

• Multi-fleet management: complex optimization with competing logistic suppliers;
• Distributed smart grid: privacy-preserving distribution of sustainable energy.

Candidates need to hold a master's degree (or be close to completion) in operations research, mathematics, computer science, or similar. Strong mathematical skills are required. Good proficiency in English (both oral and written) is required. For TNO, it is required for the candidate to pass a security screening ( https://english.aivd.nl/topics/security-screening ) Candidates are expected to start preferably September 1. We offer 4-year positions. We have a large and culturally diverse PhD community in our department, and welcome enthusiastic, talented new PhD students. PhD positions are paid for, with minimal teaching obligations of at most 25%. What we offer As PhD-position in Operations Research at School of Business and Economics , you will be employed by the most international university in the Netherlands, located in the beautiful city of Maastricht. In addition, we offer you:

• Good employment conditions. The position is graded in scale P according to UFO profile PhD, with corresponding salary based on experience ranging from €2770,00 and €3539,00 gross per month (based on a full-time employment of 38 hours per week). In addition to the monthly salary, an 8.0% holiday allowance and an 8.3% year-end bonus apply.
• An employment contract for a period of 18 months with a scope of 1,0 FTE. Upon a positive evaluation, an extension of 2,5 years will follow.
• At Maastricht University, the well-being of our employees is of utmost importance, we offer flexible working hours and the possibility to work partly from home if the nature of your position allows it. You will receive a monthly commuting and internet allowance for this. If you work full-time, you will be entitled to 29 vacation days and 4 additional public holidays per year, namely carnival Monday, carnival Tuesday, Good Friday, and Liberation Day. If you choose to accumulate compensation hours, an additional 12 days will be added. Furthermore, you can personalize your employment conditions through a collective labor agreement (CAO) choice model.
• As Maastricht University, we offer various other excellent secondary employment conditions. These include a good pension scheme with the ABP and the opportunity for UM employees to participate in company fitness and make use of the extensive sports facilities that we also offer to our students.
• Last but certainly not least, we provide the space and facilities for your personal and professional development. We facilitate this by offering a wide range of training programs and supporting various well-established initiatives such as 'acknowledge and appreciate'.

The terms of employment at Maastricht University are largely set out in the collective labor agreement of Dutch Universities. In addition, local provisions specific to UM apply. For more information, click here . Maastricht University Why work at Maastricht University? At Maastricht University (UM), everything revolves around the future. The future of our students, as we work to equip them with a solid, broad-based foundation for the rest of their lives. And the future of society, as we seek solutions through our research to issues from all around the world. Our six faculties combined provide a comprehensive package of study programmes and research. In our teaching, we use the Problem-Based Learning (PBL) method. Students work in small groups, looking for solutions to problems themselves. By discussing issues and working together to draw conclusions, formulate answers and present them to their peers, students develop essential skills for their future careers. With over 22,300 students and more than 5,000 employees from all over the world, UM is home to a vibrant and inspiring international community. Are you drawn to an international setting focused on education, science and scholarship? Are you keen to contribute however your skills and qualities allow? Our door is open to you! As a young European university, we value your talent and look forward to creating the future together. Click here for more information about UM. The School of Business and Economics The School of Business and Economics (SBE) is one of Maastricht University’s six faculties. Our mission is to contribute to a better world by addressing societal problems, by co-creating knowledge and developing team players and leaders for the future. By joining SBE, you will be part of the 1% of business schools worldwide to be Triple Crown accredited (EQUIS, AACSB and AMBA). You will join an inspiring and international environment, where learning and development is priority. Curious? Are you interested in this exciting position but still have questions? Feel free to contact Frank Phillipson at [email protected] for more information. Applying? Or are you already convinced and ready to become our new PhD-position in Operations Research? Apply now, no later than June 12, for this position. The vacancy is open for internal and external candidates. In case of equal qualifications, internal candidates will be prioritized. Maastricht University is committed to promoting and nurturing a diverse and inclusive community. We believe that diversity in our staff and student population contributes to the quality of research and education at UM, and strive to enable this through inclusive policies and innovative projects led by teams of staff and students. We encourage you to apply for this position.

Requirements

Additional information, work location(s), where to apply.

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The fading Fed reign of economics PhDs

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Robin Wigglesworth

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

Yesterday the Cleveland Fed announced that Goldman Sachs escapee Beth Hammack will be its new president, triggering predictable jokes about “ Government Sachs ”.

It looks like a strong appointment though, given the generally glowing things that FT Alphaville has heard about Hammack over the years. It also points to a growing appreciation that some financial nous can be useful at the US central bank.

But it also means that there will be one less economics doctorate in the Federal Reserve system, with Hammack (BA in quantitative economics and history from Stanford) replacing Loretta Mester (PhD in economics from Princeton).

This seems to be a trend at the moment. In a fit of boredom/curiosity, FTAV took a look at the composition of the Fed board and the various regional Fed heads 10 and 20 years ago, and compared them to the new constellation. People with PhDs in economics are in italics below:

A decade ago, 12 out of 17 Fed governors and presidents had economics doctorates, or ca 70 per cent. When Hammack replaces Mester in August, only 10 out of 19 will have one, or 53 per cent. There are now also four former lawyers, outnumbering the bankers (assuming we haven’t screwed up anyone’s background; if so, profuse apologies).

Two decades ago the reign of econ PhDs was even more dominant, with 14 out of 19 of the top jobs held by people with dismal science doctorates — almost 74 per cent, stats fans. And several of the remainder had solid economics credentials (Olson had a BA in economics, Geithner had an MA and Sandra Pianalto had both a BA and MA and was a Fed economist lifer).

How much this actually matters is open to debate. Powell was famously the first non-economist to chair the Federal Reserve since the disastrous William Miller in 1978-79, and has done a pretty good job. Some non-econ-PhDs still have plenty of experience in the field anyway, after all.

Most of all, it’s not like there isn’t a surfeit of econ PhDs across the Fed system anyway. If you want some econometrics done there aren’t many/any places that will do a better job. Getting more practical markets expertise in at the top is probably a good thing.

In fact, Hammack might have the most in-depth, relevant, coalface financial markets experience of any Fed governor or president in modern history?

The Dallas Fed’s Richard Fisher (05-15) was a former bond banker and founded an investment firm, but he drifted in and out of public service and the private sector in that typical American way. Lorie Logan previously ran the NY Fed’s markets desk and saw plenty of action during Covid, while Alberto Musalem led research at Tudor Investment Corp and Neel Kashkari had stints at Goldman and Pimco. But none of them have Hammack’s CV.

Hammack might have left Goldman as a partner, management committee member and co-head of its global financing group, but she served hard yards as an interest rates trader, and eventually became global head of repo trading and then short-term macro trading at Goldman, before being made treasurer in 2018.

Until recently she also chaired the Treasury Borrowing Advisory Committee , a body of big bond investors, traders and analysts that advises the US government on its borrowing plans.

Cleveland sits on the interest-rate setting FOMC this year, so Hammack will get her first interest rate vote at the September meeting. But given her background FTAV is mostly interested in her thoughts on the Fed’s balance sheet.

Further reading: — Life among the Econ (Western Economic Journal)

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International Edition

Department of Economics

Economics and data science (msc) (2025 entry).

Course code

TECS - L1l1

22 September 2025

1 year full-time

Qualification

Explore our Economics and Data Science taught Master's degree

Economics and Data Science offers an unbeatable combination of strong core studies, specialist options and the opportunity to conduct academic research with the guidance of world-leading experts. Warwick's Department of Economics, ranked 1st in the UK (The Good University Guide 2023) and 23rd in the World (The QS World University Subject Rankins 2024), provides professional training in modern economics.

Applications for the MSc Economics and data Science programme will open in September or October 2024 (date to be confirmed), If you are interested in finding out more abiut it, then please get in touch with us: economics.pgoffice@warwick,ac,uk.

Course Overview

Course overview.

Our MSc in Economics and Data Science is for students in Economics who would like to pursue and specialise in data science and machine learning though a postgraduate-level degree. You will acquire knowledge and skills in the areas of macroeconomic and microeconomic theory, econometrics, big data. An 8,000-word dissertation provides an opportunity to explore your own interests across these fields of study.

You will be automatically enrolled on a pre-sessional Mathematics and Statistics programme to equip you with the relevant methodological skills you need to succeed.

By the end of the course, you will be experience in working with large amounts of data to generate new findings and insights relevant to problems in economics. You will also be proficient in standard coding languages, like R and Python, to work on these problems.

Skills from this degree

• Rigorous advanced training in economic analysis and techniques, which includes opportunities to contribute to current economic research and debates 
• Data science techniques and methods pertaining to applications in economics
• Training in the acquisition, management and processing of large volumes of data with applications in economics
• Analytical approach to thinking about national and international economic problems, policies and decision-making 
• Research skills; use of library and internet as information sources; locating, extracting, analysing, and presenting material
• Numeracy and quantitative skills; use of mathematics and diagrams, understanding data, statistical analysis
• IT skills; coding; word processing and spreadsheets; specialist econometric or statistical software; internet applications; written and oral communication skills

Frequently Asked Questions

View a full list of frequently asked questions from the Department of Economics

Entry Requirements

General entry requirements, minimum requirements.

2:1 undergraduate degree (or equivalent) specialising mainly in economics. This means you should have achieved a good standard in undergraduate courses in microeconomics and macroeconomics, with a 1st (or equivalent) in econometrics/ economics statistics, at an intermediate level.

We also expect a good standard achieved in mathematics taken at undergraduate level.

English Language Requirements

You can find out more about our  English language requirements . This course requires the following:

• IELTS overall score of 6.5, and none below 6.0 is required.

International qualifications

We welcome applications from students with other internationally recognised qualifications.

For more information, please visit the  international entry requirements page .

Additional requirements

There are no additional entry requirements for this course.

Core Modules

The following basic structure applies to MSc Economics and Data Science:    

Economics Analysis A or Economics Analysis B  

Economic Analysis will develop your understanding of the theoretical foundations of macroeconomic analysis, and how models can be used in policymaking and to help explain empirical evidence. Then you will learn microeconomic concepts in the areas of game theory, information economics and choice under uncertainly. You can choose Economic Analysis A, which is a more applied version, or Economic Analysis B, which is more technical and theoretically orientated. As a guide, we expect students opting for the B version to have obtained the equivalent of a First Class mark (70%) in their undergraduate studies, though we will consider a request to take a B variant even if that prerequisite is not met.     

Quantitative Methods: Econometrics B  

The module provides students with a thorough understanding of material needed for empirical quantitative analysis, particularly applied econometrics. You will understand how to produce high quality empirical econometric analysis using cross-sectional, time-series, and panel data, and also learn to interpret critically empirical results.    

Foundations of Data Science  

Analyses in all fields of economics nowadays make frequent use of large and detailed datasets ("big data"). The explosion in data access and availability opens many opportunities for applied research, as well as new challenges on how to handle, process, and extract meaningful conclusions from the data. The aim of the module is to introduce students to the R and Python programming languages and basic concepts of data science, and to provide a "hands-on" experience with economic data. The module lays the foundation for more advanced materials.    

Machine Learning and Big Data in Economics  

This module provides an overview of recent developments in econometric methods tailored to handle such large datasets, such as machine learning techniques and articulates.    

Dissertation  

You will have the opportunity to pose an interesting research question in economics and data science, to find the correct methods for analysing the question, including development of theoretical models and/or analysis of data where appropriate, and to write up your results independently.   

Optional Modules

We are currently developing optional modules that will be specifically for the MSc Economics and Data Science. We are still awaiting approval for this, so more information will follow shortly. In some cases it may also be possible to take optional science modules in other departments like Psychology, Computer Science or Statistics.

Example optional modules may include:  

• Game Theory  
• Investment and the Financial System  
• Behavioural Economics  

You will choose two optional modules to complete.     

Read more about the modules on our Economics web pages.   

Teaching and Learning

You will have a combination of lectures, and small group support and feedback classes. You will also learn through independent study, which will include practicing coding skills, reading journals and books, completing problem sets and assessments, revising for exams and undertaking research. 

In the summer term and summer vacation your independent study time will increase as you complete your research dissertation. Your dissertation work will normally be individually supervised on a one-to-one basis, and we have an effective personal tutor system providing individual support. 

We encourage one-to-one interaction with our world-leading academics and offer great flexibility in the optional modules that allow you to specialise or diversify your studies. 

Class Sizes

Your lecture size will naturally vary, especially for the optional modules, but also for core lectures.

Some of the larger modules may have 50-200 students in them. You will then typically have weekly support and feedback classes with around 15-20 students.

Typical contact sizes

An average of 8-10 hours of lectures and 3 hours of classes per week.

Your timetable

Your personalised timetable will be complete when you are registered for all modules, compulsory and optional, and you have been allocated to your lectures, seminars and other small group classes. Your compulsory modules will be registered for you, and you will be able to choose your optional modules when you join us.

Pre-sessional Mathematics and Statistics

The MSc Economics & Data Science is a quantitative degree, and students will need to be competent in several areas of mathematics. You are required to attend a pre-sessional course, Introductory Mathematics and Statistics, which will be taught in the two weeks before the University’s main term begins. 

The course is designed to ensure that your maths and statistical knowledge and skills are at the standard required for you to succeed on the rest of the MSc course and it consists of both lectures and small group learning. Further information can be found on our Economics web page. 

For MSc students, assessment is through formal examinations, coursework and an individually supervised research dissertation.

Feedback is a vital part of the assessment process, as it helps you to reach your full potential by identifying the strengths and weaknesses of your work and the actions needed to develop your understanding and enhance your performance.

Feedback is provided in a variety of ways, including: grades and comments on marked work, solutions to problem sets, verbal feedback from tutors and peers in classes, Advice and Feedback hours with academic staff and personal tutor meetings.

Your career in Economics

Graduates from our Master’s courses have gone on to work for employers including:

• Bank of America
• Bank of China
• China Merchants Bank
• European Central Bank
• Frontier Economics
• HM Treasury
• World Trade Organisation

Employers who have hired our MSc Economics graduates in the past have indicated that they are particularly interested in students with knowledge and skills in data science in addition to economics.

They have pursued roles such as:

• Consultants
• Researchers
• Business and financial project management professionals
• Chartered and certified accountants
• Statisticians
• Quality assurance and regulatory professionals

Our department has a dedicated professionally qualified Senior Careers Consultant offering impartial advice and guidance together with workshops and events throughout the year. Previous examples of workshops and events include:

• Careers in Economics Webinar Series with speakers from our Economics Alumni community
• Careers in Economics Fair with key employers held annually in November
• Investment Banking Uncovered
• Warwick careers fairs throughout the year
• Mock Assessment Centre workshops
• Manage Your Digital Identity and Use LinkedIn Effectively

About the Department

Economics at warwick.

We are committed to rigorous training of the next generation of economists in the tools and techniques of the discipline, producing cutting-edge research that has wide and deep impact on society and the economy, and creating strong collaborations. Our work has established Warwick Economics as one of the leading centres of economic research internationally. Many of our academics now use data science techniques routinely for their research projects.

We hold regular live chats for prospective students and offer holders. Please see the live chat schedule for Economics.

Our Postgraduate courses

• Behavioural and Economic Science (Economics) (MSc)
• Economics (Diploma plus MSc)
• Economics (MSc)
• Economics and International Financial Economics (MSc)
• MRes/PhD in Economics

Academic Resource Portal

The Department of Economics have put together a portal of academic resources recommended by faculty members for anyone who may be considering studying economics at postgraduate level.

Tuition Fees

Tuition fees are payable for each year of your course at the start of the academic year, or at the start of your course, if later. Academic fees cover the cost of tuition, examinations and registration and some student amenities.

Fee Status Guidance

We carry out an initial fee status assessment based on the information you provide in your application. Students will be classified as Home or Overseas fee status. Your fee status determines tuition fees, and what financial support and scholarships may be available. If you receive an offer, your fee status will be clearly stated alongside the tuition fee information.

Do you need your fee classification to be reviewed?

If you believe that your fee status has been classified incorrectly, you can complete a fee status assessment questionnaire. Please follow the instructions in your offer information and provide the documents needed to reassess your status.

Find out more about how universities assess fee status.

Additional course costs

As well as tuition fees and living expenses, some courses may require you to cover the cost of field trips or costs associated with travel abroad.

For departmental specific costs, please see the Modules tab on the course web page for the list of core and optional core modules with hyperlinks to our Module Catalogue (please visit the Department’s website if the Module Catalogue hyperlinks are not provided).

Associated costs can be found on the Study tab for each module listed in the Module Catalogue (please note most of the module content applies to 2022/23 year of study). Information about module department specific costs should be considered in conjunction with the more general costs below:

• Core text books
• Printer credits
• Dissertation binding
• Robe hire for your degree ceremony

Scholarships and Funding

Economics scholarships.

There are a number of scholarships available for students looking to undertake study a Taught Masters in Economics at the University of Warwick. Below are the scholarships relevant for students looking to study within the Department of Economics.

Economics Excellence Scholarship

The Department of Economics will award one Master’s scholarship (of 100% of tuition fees) to an outstanding applicant who has firmly accepted their offer by the 20th May 2024 on one of our one-year taught MSc courses.

Economics Regional Scholarship

The Department of Economics will award two Master’s scholarships (of 50% of tuition fees) to students who are nationals of, and domiciled in any country located in Africa or South America, who have firmly accepted their offer by the 20th May 2024, on one of our one-year taught MSc courses.

Alumni Discount Scheme

If you are a Graduate of the University of Warwick and are of home or overseas fee status, you will be able to access a 10% tuition fee discount on this course.

Warwick Taught Master's Scholarship

The University of Warwick offers a number of Warwick Taught Masters Scholarships, which are available to eligible Home/EU students from under-represented groups who wish to start a postgraduate taught master's course.

Scholarships and financial support

Find out about the different funding routes available, including; postgraduate loans, scholarships, fee awards and academic department bursaries.

Living costs

Find out more about the cost of living as a postgraduate student at the University of Warwick.

How to Apply

How to apply.

Applications to our Economics Master’s programmes typically open in October and close in June.

Find out more about our application deadlines including when we will make offers.

Program Coordinator/Contact

David Davis, Professor and Graduate Coordinator Ness School of Management and Economics Harding Hall 605-688-4141

Program Information

The graduate program in economics prepares students for professions in business and government as well as for advanced studies in economics and finance. Program requirements include one course in microeconomics (advanced microeconomic theory or advanced managerial economics) and one course in quantitative analysis (econometrics or advanced business decision science).  The program offers two curriculum options: an economic theory option and an applied business-economics option.  In any case, students customize their plans of study, emphasizing one of the following four subject areas.

• Agricultural Business
• Agricultural and Resource Economics
• Business Economics
• General Economics

The Ness School of Management and Economics offers an accelerated master’s program, which allows qualified students to work toward their master’s degree in economics while they complete their undergraduate degree. This accelerated program is available to qualified undergraduate students who maintain an overall undergraduate cumulative GPA of at least 3.5.

Course Delivery Format

The Ness School of Management and Economics generally delivers graduate courses in the thesis track in a face-to-face format. The school delivers its business-economics curriculum-option courses in flexible formats, including evening, weekend, blended, online synchronous, and online asynchronous courses.

Student Learning Outcomes

• Analytical reasoning: Graduates will be able to apply economic theories and quantitative and qualitative analytical methods to analyze and evaluate economic outcomes and to make decisions.
• Communication: Graduates will be able to communicate economic-research outcomes, and the analysis underlying these outcomes, in oral and written forms to diverse audiences.
• Ethical Reasoning: Graduates will be able to demonstrate the capacity to evaluate ethical matters within the context of the discipline.
• Core economics knowledge: Graduates will be able to demonstrate the knowledge and understanding of economic terminology, mathematical and graphical tools and representations, institutions, common economic variables, and general habits of economic thought.

Available Options for Graduate Degrees

Core requirements.

• DSCI 752 - Advanced Business Decision Science Credits: 3

or ECON 705 - Econometrics Credits: 3    

• ECON 704 - Advanced Microeconomics Credits: 3

or ECON 751 - Advanced Managerial Economics Credits: 3    

Select one of the following options

• ECON 798 - Thesis (COM) Credits: 1-7 (5 credits required)
• Approved Electives Credits: 19
• Electives Credits: 24

Total Required Credits: 30 (Thesis & Non-Thesis)

Additional admission requirements.

GRE: Not required TOEFL: 90-91 Internet-based ​TOEFL Essentials: 9.5 IELTS: 6.5 Duolingo: 115

Two letters of reference and a letter of intent are required. In the letter of intent, the applicant should identify their interests in the graduate program, address how their skills - including those the applicant attained in their undergraduate program - align with our graduate program, and address any undergraduate coursework in which the applicant earned below a B. The letter of intent should be roughly 500 to 750 words long.

Accelerated Master’s Program

The program offers an accelerated master’s degree to qualified undergraduate students who maintain an overall undergraduate cumulative GPA of at least 3.5; these students may begin their graduate studies while they complete their undergraduate degree.  Students may apply for admission to the accelerated master’s degree program once they have completed 60 undergraduate credits.  Students interested in the accelerated master’s degree should contact the Ness School of Management and Economics graduate coordinator to obtain application requirements. Application and admission to the Graduate School is required.

Contact the Graduate Coordinator for further information.

General Requirements

Graduate students should consult with their advisor before registering for graduate coursework. For additional information, refer to the Master’s Degree Requirements   .