phd economics in usa

Ph.D. in Economics

The Ph.D. program in the Department of Economics at Columbia University trains students to do cutting edge research in economics.  Students in our program do research in all major areas of economics including microeconomics, macroeconomics, econometrics, international economics, labor economics, public finance, industrial organization, development economics, and urban economics.  Our department provides strong training both in theoretical economics and in applied and empirical economics.  The Ph.D. program is primarily designed for students that are interested in pursuing a career in teaching and research within academia but is also useful for student interested in certain positions within governments, research organizations, or private businesses.

The first two years of our Ph.D. program is largely devoted to rigorous coursework. After the second year, however, students devote most of their time to their own research under the supervision of faculty advisors. Students in our program generally complete their Ph.D. in 5 or 6 years.

Admission to the Ph.D. program is highly selective.  We receive approximately 1,000 applications each year for an incoming class of roughly 25 students.  We place a high value on attracting the very best minds, and recruiting members of groups who will both enhance the diversity of research in the field and contribute to the diversity of the university’s academic and professional community.

The Ph.D. program has a long and illustrious history.  Alumni of the program include some of the most distinguished economists of the last century – including Nobel Prize winners Kenneth J. Arrow, Milton Friedman, Simon Smith Kuznets, and William S. Vickrey.

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1022 International Affairs Building (IAB)

Mail Code 3308

420 West 118th Street

New York, NY 10027

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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Aug. 28, Wed. Fall-term classes begin.

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

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

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Ph.D. in Economics

The Ph.D. program at Berkeley is designed for students interested in pursuing advanced study and conducting original research in Economics. The Ph.D. degree is awarded in recognition of the recipient's qualifications as a general economist and of the ability to make scholarly contributions in fields of specialization. Additionally, the Economics Ph.D. program is residential, there is no remote enrollment option. 

In advancing to the Ph.D. degree, students pass through two major stages:

• Preparation for candidacy typically takes two to three years. During the first two semesters, students take courses to achieve competence in econometric methods, methods of economic history and fundamentals of microeconomic and macroeconomic theory. During the next two years, students prepare for examination in two fields of specialization of their choosing, prepare a dissertation prospectus, and take an oral examination. When these steps are completed, students are advanced to candidacy.
• Completion of a dissertation after advancing to candidacy typically takes one to two years. The dissertation must be based on original research and represent a significant contribution to the body of Economic knowledge.

The entire process takes approximately five to six years, although some students are able to complete the program in less time. Below is an overview of the program requirements by year and other pertinent information.

ECONOMICS GRADUATE STUDENT SERVICES

The Economics Student Services Mission is to advise our students holistically by providing a high standard of service in a supportive and collaborative environment.  Professional and peer advisors work as a team to provide accurate information in a timely manner.  We partner with faculty to assist students in engaging with the campus and the global economic community.  We value fairness, diversity, and the important roles our students, faculty, and staff in the Department of Economics play at the University of California, Berkeley.

Meet the members of the Economics Graduate Student Services advising team!

Graduate Office Address:

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Joe Sterbenc

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.

  _______________________________________________________________________

Sofia Shchukina, Department PhD Student, Awarded Funding through UChicago GRAD PhD Advance Program

Sofia Shchukina, a PhD student in the Kenneth C. Griffin Department of Economics, was awarded funding for the 2023-24 academic year as part of UChicagoGRAD's PhD Advance internship program for her work with NPR's Planet Money.

The PhD Advance program supports students in building new skills and applying their advanced-degree training in an area of professional interest in academia, industry, nonprofits, or government. The internships are student driven and engage students’ academic work. With coaching from UChicagoGRAD, PhD students create their own projects based on their specific interests and needs. They receive a $6,000 stipend for an internship lasting 300 hours.     The PhD Advance program prioritizes applicants who design customized, project-based internships. Project-based internships are those that engage the intern in a coherent set of responsibilities that progressively build toward a specific deliverable or outcome. Internships involving unrelated, ad-hoc tasks are not considered project-based opportunities. The program also gives preference to internship projects at organizations at which the applicant has no previous affiliation.

For more information about the program and to apply, visit grad.uchicago.edu .

Welcome incoming Ph.D. students! (alphabetical listing):  Hazal Basaran; Connor Brennan; Joseph Campbell; Seamus Duffy; Sebastian Freed Huici; Alfonso Gauna; Javiera Gazmuri; Ariel Goldszmidt; Maria Del Mar Gomez Ortiz; Jiesheng Hong; Reigner Kane; Hanvit Kim; Philipp Kropp; Neel Lahiri; Yier Ling; Ayman Moazzam; Matthew Neils; Kyunghee Oh; Laura Pittalis; Jose Rishmawi; Amy Smaldone; Marco Spinelli; Rathan Sudheer; Shengning Zhang

Congratulations 2023-2024 Ph.D. Graduates! 2023-2024 PhD graduates (alphabetical listing): Scott Behmer • Maria Ignacia Cuevas de Saint • Santiago Franco • Zhiyu Fu • Michael Galperin • Shanon Hsu-Ming Hsu   •   Elena Istomina • Ihsan Furkan   Kilic • Nadav Kunievsky • Marco Loseto • Nadia Lucas • Sangmin Oh • Aleksei Oskolkov • Estéfano Rubio • Francesco Ruggieri • Sidharth Sah • Marcos Gabriel Sorá  • Michael Varley

_____________________________________________________________________________

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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Economic Analysis & Policy

Our doctoral program in the field of economic analysis and policy prepares students for research careers in economics. The program offers rigorous training and has several distinct advantages:

Low Student-to-Faculty Ratio

First, enrollment in the program is small. This encourages close faculty-student contact and allows students to become involved in research very early. Students work first as assistants on faculty research projects and, as their interests and skills develop, on their own research. Students often begin their publishing careers before completing their degrees.

Flexible and Innovative Program

Second, the program is flexible and innovative; students can draw on both the school’s and the university’s distinguished faculty. In addition to the faculty in the economics group at Stanford GSB and in the university’s economics department, students have access to faculty in political and behavioral sciences; accounting and finance; mathematics, statistics, and computer science; and many other disciplines.

A Top-Ranked School

Third, the program is part of a top-ranked professional school. This setting allows students to gain a deeper understanding of the actual processes of business decision-making and public policy formulation.

Preparation and Qualifications

Students who enroll in this program have a substantial background in economics and mathematics. They are expected to have, minimally, mathematical skills at the level of one year of advanced calculus and one course each in linear algebra, analysis, probability, optimization, and statistics.

The faculty selects students based on predicted performance in the program. Evidence of substantial background or ability in the use of mathematical reasoning and statistical methods is important. Most successful applicants had quantitative undergraduate majors in economics, mathematics, or related sciences.

In addition to evidence of ability and letters of recommendation, the faculty considers carefully the applicant’s statement of purpose for pursuing the PhD degree. The successful applicant usually has clearly defined career goals that are compatible with those of the program.

Acceptance into the program is extremely competitive. Admitted applicants compare very favorably with students enrolled in the top economics departments of major universities.

Economic Analysis & Policy Faculty

Mohammad akbarpour, claudia allende santa cruz, susan athey, lanier benkard, jeremy i. bulow, modibo khane camara, sebastian di tella, rebecca diamond, yossi feinberg, guido w. imbens, charles i. jones, jonathan levin, michael ostrovsky, garth saloner, yuliy sannikov, kathryn shaw, andrzej skrzypacz, paulo somaini, juan carlos suárez serrato, takuo sugaya, christopher tonetti, shoshana vasserman, ali yurukoglu, weijie zhong, emeriti faculty, alain c. enthoven, robert j. flanagan, david m. kreps, peter c. reiss, john roberts, a. michael spence, robert wilson, recent publications in economic analysis & policy, trading stocks builds financial confidence and compresses the gender gap, drivers of public procurement prices: evidence from pharmaceutical markets, redistributive allocation mechanisms, recent insights by stanford business, if/then: why research matters, at what point do we decide ai’s risks outweigh its promise, nine stories to get you through tax season, placement director.

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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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PhD in Economics

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

The PhD in Economics is a STEM designated degree program.

View the complete PhD Rules here

Program Requirements

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

Theory and Quantitative Core Requirements

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

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

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

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

Field Requirements

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

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

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

GPA Requirements

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

Time Requirement

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

Students are expected to meet the following milestones each year:

By the end of the 1st year:

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

By the end of the 2nd year:

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

By the end of the 3rd year:

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

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

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

Dissertation

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

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

PhD in Economics

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PhD in Economics At a Glance

• 45 credit hours of course work, completed in as little as 2.5 years.
• Study diverse theoretical perspectives, including post-Keynesian, intuitionalist, evolutionary, and feminist economics.
• Tailor your field coursework to best match your research interests.
• Designated as a STEM degree program 
• Program Director: Professor Nathan Larson .

Tailor Your Degree to Your Research Interests

Offering a combination of rigorous technical training and a focus on policy-relevant research, our PhD in Economics will prepare you for careers in academics, research, and government. Our students master economic theory, statistical methods, and applied field knowledge. Then, through the dissertation-writing process, they develop the ability to formulate and empirically answer economic questions.  

• Diverse Perspectives : In addition to a strong foundation in macro and micro theory and econometrics, students learn a more diverse perspective on economics through required courses in economic thought and economic history, as well as optional courses in heterodox theoretical models of economics, including post-Keynesian, intuitionalist, evolutionary, and feminist economics.
• Flexibility : Students choose four applied field courses that best fit their research interests. The department offers a wide selection of concentrations, including courses in development, gender, international, labor, macro/monetary, and other applied micro topics.
• Preparation : Students must successfully pass one comprehensive exam at the end of their first year and produce a journal-quality research paper by the end of their third year. The third-year paper typically serves as a key component of the dissertation, giving students an advanced start on the dissertation writing process.

See complete Admissions and Program Requirements .

Faculty Dedicated to Your Success

At AU, you will take classes from and work with a diverse group of esteemed economists and highly cited scholars who are engaged with practitioners and policymakers around the world. Their wide-ranging research and publications , along with the variety of methodological approaches they use, create a rich environment for innovations in theory and empirical studies. 

Our research centers, including the Program on Gender Analysis in Economics and Infometrics Institute , host guest scholars and research projects, further enhancing the opportunities for graduate students. By working as research assistants and teaching assistants, PhD students gain valuable experience and mentorship in an academic setting.  

Throughout their third year and into the fourth, students work closely with a faculty member of their choosing on their third-year paper and dissertation proposal, eventually adding other experts to their dissertation committee to gain additional insights and expertise. Through this process, students develop lasting collegial, and productive relationships with faculty, classmates and economists at DC-area institutions, often co-authoring and publishing.  

Launch Your Career Amongst Top Economists 

The Washington metropolitan area employs over one-third of all economists in the country. The array of intellectual and professional opportunities offered by the nation's capital make American University the ideal place to study economics. The department's strategic partnerships and our faculty's relationships with nearby institutions will help you make the best use of those opportunities.

Internship and employment opportunities:

• The World Bank 
• International Monetary Fund
• Research institutes
• Think Tanks and NGOs
• US Treasury, Labor, and Commerce Departments 

Economics PhD graduates are well qualified for careers in academia, government agencies, and international organizations. Our students receive career mentorship and placement services that lead to careers in public policy, academia, and government, both domestically and abroad.

Many of our graduates go on to academic posts at universities such as the Saint Louis University, the University of Vermont, University of Wisconsin-La Crosse, and Franklin College. Domestically, graduates have served in congress and government agencies, including the Bureau of Economic Analysis, the Department of Commerce, and the Department of Labor. Our alumni working outside of the US have founded research institutions and consulted for major organizations such as CGIAR-CIP and the United Nations. 

Read more career information about AU economics alumni.

See the 2017-8 list of job market candidates .

News & Notes

See abstracts from the 2024  Third Year Paper Conference .

Research Seminar Series Wednesdays at noon.

• PhD candidate Amy Burnett Cross received an EHA Dissertation Fellowship from the EHA Committee on Research in Economic History
• PhD student Danielle Wilson was awarded an Economic History Association grant for archival research on Mexican Railroads.
• PhD student Aina Puig's short essay, " The Unequal Effect of Interest Rates by Race, Gender, " was published in the San Francisco Fed's Economic Letter.
• Professor Bernhard Gunter and PhD students Bong Sun Seo & Farah Tasneem were awarded the  International Award for Excellence for their article on the change in labor force participation rates during periods of globalization and marginalization. 

Student Spotlights

More about Aina

San Francisco Federal Reserve Board’s essay contest  called for papers studying economic impacts of gender and racial inequalities. As a winner, Aina’s paper will be published in the Federal Reserve Board’s Economic Letter and will have the opportunity to participate in a 6-week summer research program.

Aina’s paper focused on the impact of monetary policy, through interest rates, on spending patterns among types of U.S. households—those with mortgages, those with women versus men as head of household, and those headed by White versus Black people. By building on her interest in macroeconomic inequality topics with direct policy implications, she intended (and continues to intend) to fill a gap in the literature, adding to the income inequality narrative by bringing gender and racial inequalities to the forefront of discussion.

Through this project, she was able to not only establish the impact of monetary policy shocks on consumption patterns, but also inform the Federal Reserve Board of these distributional impacts. When discussing her research, Aina states that “promoting equal opportunity and understanding the different impacts of policies can help policymakers create policies that promote economic growth while benefitting all groups’ well-being in society.”

Her interest in analyzing inequality topics through lens of distributional effects of macroeconomic policies came to life during her research for this paper and “ties directly into [her] plans for [her] dissertation…, a good starting point for [her] future research.”

Vasudeva Ramaswamy

More about Vasudeva

Economics PhD candidate Vasudeva Ramaswamy credits American University with helping him zero in on his area of research interest and for equipping him with the tools to explore and contribute to his field. 

During his time at AU, Vasu spent two summers working with the World Bank, studying the impact of agricultural aggregators in East Africa — specifically, how they provided income and security to farmer communities. 

Vasu’s dissertation considers the effects of the Federal Reserve Bank’s actions on household inequality. Who gains and who loses when the Fed increases (or decreases) interest rates? And how do these effects propagate through the economy? Because business income and profits play a key role in household inequality, Vasu looks at how businesses respond to the actions of the Fed. 

After he earns his PhD, Vasu says he would love to be able to continue researching the importance of economic heterogeneity in monetary policy transmission. “I am particularly grateful for AU’s faculty, who are leading experts in their field and approachable and encouraging as mentors,” he adds. “I am equally grateful for the rest of my PhD cohort, who are a brilliant and motivated group. I am learning from them continually.”

Elissa Cohen

More about Elissa

Economics PhD candidate Elissa Cohen received an NSF grant to pursue her research about assumptions people make about risk and, building off an idea from a previous project, Elissa continues her interest in the Value of Statistical Life in this one to question the validity of how VSL is used and estimated. In doing so, she contributes to development of a more complete theory of how perceptions of risk guide decision making.

Elissa asks three questions: (1) Is the construct validity of the VSL consistent across measurement approaches? (2) Do people value the mitigation of varying types of fatality risk differently across domains? (3) Do people accurately comprehend the probability of death in a given setting?

To answer these questions, Elissa uses discrete choice experimental (DCE) designs, self-report surveys, and machine learning techniques to evaluate the validity of the VSL as an assessment how people’s risk assessment shapes behavior.

This research improves the understanding of how people perceive fatality risk across domains and how perceptions impact choices about risk exposure. With this research comes the potential to reshape how regulatory agencies construct their aggregated VSL estimates for future cost-benefit analyses, influencing policy decisions and allocation of scarce federal resources.

As she thinks about impact and the research space she can contribute to and develop, Elissa comments, “AU has definitely helped me refine the types of questions I am interested in answering…. I see myself continuing to explore and test feedback loops between emergent human behaviors and macro-level policy decision-making.”

Amy Burnett Cross

More about Amy

Amy Burnett Cross has been selected as one of the three NBER Pre-Doctoral Fellows in the Gender in the Economy program to support her dissertation research on the influence of military policy on the sorting of women into occupations. Through this research, she is able to include her knowledge from AU’s Program on Gender Analysis in Economics as well as her understanding that by bringing more insight from conservative institutions into her research realm, she could enhance the policy space of gender equity.

As she continues her career, Amy desires to conduct research that is directly applicable to policymakers, and through her research on this project, Amy has the chance to do this in addition to engaging with economic history and begin to invest more time in the historical arc of military policy and gender dynamics.

She has three focuses for her dissertation project: (1) evaluate the impact of lifting the ban on women in combat (in 2013) on civilian occupational desegregation; (2) measure the extent to which gender desegregation of the Army (in 1977) signaled a shift in the appropriate role of civilian women at work; and (3) assess whether the structure of the U.S. draft in WWI (in 1917) contributed to the development of the male breadwinner norm.

Amy’s work aims to provide evidence that policy changes can influence social norms constraining women’s work and occupational segregation, particularly in discovering how policies regarding women’s participation in the military go on to influence gender gaps in civilian labor market outcomes. In doing so, Amy also seeks to contribute to the research of information asymmetry as a cause for occupational segregation—does military gender desegregation function as a reduction of information asymmetry?

With the support and accommodation of her peers, professors, and advisor, Mary E. Hansen, Amy has been able to focus on her academic excellence and develop close friendships and bonds during her journey at AU. In discussing her work in gender economics and the community at American University, Amy offered, “AU attracts women economists and I have found some truly excellent ones here.”

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College of Liberal Arts and Sciences

Ph.d. in economics.

Our doctoral program provides rigorous training in modern theory and data analysis. We are particularly strong in the fields of applied microeconomics, especially labor economics, education, economic development, public finance and health economics, and also international macroeconomics. Our graduates work as university professors, conduct policy analysis in government agencies and non-governmental organizations, and work in leading private sectors firms.

We enroll about 10 new doctoral students per year and the modest size of our program allows us to have small classes, provide support to our students, and have a lot of student-faculty interaction. About half of our students are from the United States and the other half come from all over the world.

We are particularly excited about the young faculty members who we were able to recruit to teach at UIC over the last few years. They, along with our senior faculty, help create a lively intellectual atmosphere and ensure our students have sufficient training and mentoring to do great work. A distinguishing feature of our department is a high level of faculty research collaboration with graduate students. Over the past three years graduate students have coauthored articles with faculty that have been published in the  Economic Journal , the  Journal of Labor Economics , the  Journal of Health Economics , and the  Economics of Education Review . We also have three weekly research seminars where external scholars and UIC faculty and students present and discuss their work.

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• Frequently Asked Questions

PhD in Applied Economics and Management Program

Earn your doctorate at the dyson school—an innovative, immersive phd program.

Prepare for research-rich careers in academia and industry.

Offered by the Charles H. Dyson School of Applied Economics and Management at Cornell University, this PhD program is fully funded, fully residential—and fully designed to prepare you to tackle today’s most pressing economics issues. 

Earning a doctoral-level degree opens you up to exciting opportunities, whether you plan to teach at the college level, want to pursue a research-related career in industry, or wish to use your skills and knowledge in the nonprofit sector.

Why Earn a PhD in Applied Economics and Management at the Dyson School?

Considered one of the best applied economics PhD programs in the nation for research output, the Dyson School’s doctoral offering combines Ivy League rigor, experiential learning, and faculty mentorship. Here are just a few ways our program is unique among applied economics PhD s:

Fully Funded

All applied economics PhD students receive full tuition assistance, plus health insurance and a stipend for all five years

STEM-Designated

Our program prepares you to be a researcher in today’s technologically advanced, big-data-focused landscape.

Flexible and Focused

Choose an industry-focused concentration area, such as food and agricultural economics.

Experience-Rich

Partnerships across Cornell give you unprecedented teaching and research opportunities.

Program Overview: The PhD in Applied Economics and Management at a Glance

Here’s a quick overview of the AEM PhD program, from degree type to program duration:

Degree Awarded

PhD in Applied Economics and Management

Program Format

Full-time residential and STEM-designated

Program Duration

Our Curriculum: PhD Course Requirements

The first two years of the PhD in applied economics and management program include foundational coursework in areas such as economic theory, applied econometrics, and macroeconomic research. Then, you’ll progress into general electives, as well as electives related to your concentration area.

The heart of the PhD program is your dissertation, and this faculty-mentored, research-based project will be the focus of your final three years in the program.

PhD in AEM Concentrations: Developing Your Expertise

As a doctoral student at the Dyson School, you’ll choose one of four concentrations. As you take electives and engage with faculty in one of these research areas, you’ll begin to home in on your own area of expertise. Within this concentration, you’ll develop your dissertation idea and form your special faculty committee.

Environmental, Energy, and Resource Economics (EERE)

Discover how the economy and the environment interconnect. This concentration covers a wide range of existing and emerging environmental issues. EERE students gain environmental economics experience through our partnerships with the Atkinson Center for a Sustainable Future and the Cornell Institute for China Economic Research .

Faculty expertise in the environmental, energy, and resource economics PhD concentration area includes:

• Climate change
• Air and water quality
• Policy evaluation
• Transportation
• Renewable and nonrenewable energy

Food and Agricultural Economics (FAE)

Explore every aspect of the food chain, from farm to market to consumer. Not only will you get to work with experts at the Dyson School, but with our connection to Cornell’s College of Agricultural and Life Sciences (CALS) , Cornell Cooperative Extension , and the Food Industry Management Program (FIMP) , you have unparalleled access to a broad range of experts, including natural scientists, farmers, and food retailers.

Faculty expertise in the food and agricultural economics PhD concentration area includes:

• Agricultural finance
• Behavioral economics
• Food retailing and marketing
• Farm management

International & Development Economics (IDE)

Find solutions to market challenges around the world. This concentration will expand your knowledge of pressing societal issues, including poverty, public health, and agriculture. Teaching and research opportunities for IDE students include the Tata-Cornell Institute for Agriculture and Nutrition , the Emerging Markets Institute , and the Einaudi Center for International Studies .

Faculty expertise in the international and development economics PhD concentration area includes:

• Poverty and inequity
• Nutrition and urbanization
• Public works programs
• Resilience measurement
• Labor markets

Management (MGMT)

Dive into the science of management in industries of all kinds. Concentrating in management gives you flexibility in building your academic plan, including hundreds of electives and endless possibilities for dissertation research topics. Our faculty members have an incredible range of scholarly and professional experience, our management concentration highlights three core areas:

Real Estate Economics (REE)

Faculty in this area examine issues related to real estate and urban development. Research interests include:

• Commercial real estate finance
• Investment performance
• Tall buildings

Strategy and Business Economics (SBE)

Faculty in this area explore a range of strategy-related questions. Their research interests include:

• Digitization
• Human capital management
• Organizational economics

Faculty in this area focus on empirical finance issues. Research interests include:

• Climate finance
• Household finance
• Asset pricing
• Financial institutions

Benefits of a STEM-Designated PhD in Applied Economics and Management

A longtime innovator in economics education, the Dyson School has always prepared its students for the changing marketplace. Our STEM-designated PhD program takes that to another level by ensuring our graduate-level curriculum gives you the technical competencies demanded of today’s researchers. Your studies will cover applied econometrics, machine learning, programming, and other emerging areas relevant to business. 

The STEM designation offers additional benefits to Dyson School students on an F-1 visa, including the opportunity for extended learning and professional experiences in the United States.

After the PhD: Careers in Academia and Industry

A senior data scientist at Citibank. A research agricultural economist at the US Department of Agriculture. An assistant professor at Hong Kong University of Technology. 

Dyson School PhD graduates take their research experience into academia and industry. As scholars, they teach and continue their research at institutions across the US and abroad. They also serve in high-profile economist, data scientist, advisor, and related roles at organizations from federal agencies to global financial services firms to nongovernmental organizations. 

VIEW PhD in AEM CAREER OUTCOMES

Your Dissertation: Putting Ideas into Action

Intellectual curiosity at the Dyson School is strong. Our PhD students devote their research to economics and management topics spanning sectors and industries. Dissertations in recent history take a deep dive into issues such as:

• Tax policy, public health, and government spending
• Food safety and consumer demand in China
• Business process innovation in commercial firms
• Impact of fintech in agricultural economics

Our Faculty: Research with Industry-Leading Scholars

As a PhD student at the Dyson School, you’ll work alongside some of the most brilliant minds in economics and management. In addition to receiving individual mentorship, you’ll get to build your own special faculty committee—an advisory group that will guide you through every step of your dissertation.

Throughout the program—from foundation courses to electives across Cornell—you will learn from award-winning educators, widely published scholars, and industry-leading practitioners.

“One of my favorite aspects of the PhD in Applied Economics and Management program was the abundance of seminars and the regular hosting of conferences. The wide range of seminars and the frequency of conferences created an intellectually stimulating environment and facilitated thought-provoking discussions with experts and peers.” — Natasha Jha ’23

The PhD Student Experience: Living and Learning at the Dyson School

When you join the Dyson School, you will become part of a vibrant, collaborative learning community dedicated to positively impacting people around the world through economic and management research.

Our Community

As a PhD student at Dyson, you will make meaningful connections across campus and beyond. You’ll learn from a world-class faculty, engage with ambitious peers, receive close research mentorship, and have access to a broad range of academic and career support services.

With historic buildings, modern learning spaces, beautiful scenery, and plenty of amenities, Cornell is an amazing place to live and learn. We’d love to show you around campus.

Our Expertise

Our faculty are experts in many areas but perhaps most notably for consulting, consumer packaged goods, financial services, technology, and agribusiness. The breadth and depth of our knowledge is especially helpful as you pursue your doctoral research. 

LEARN MORE ABOUT DYSON

Admissions Overview: How to Apply to the PhD in Applied Economics and Management Program

The ideal candidate for the Dyson School’s applied economics PhD program will have a thorough knowledge of economic theory and quantitative methods, as well as a background in calculus and real analysis. Our admissions page has more details about eligibility requirements, deadlines, and materials you need to submit with your application.

Applied Economics FAQ: Your PhD Questions Answered

As you research and compare applied economics PhD programs , you probably have questions about program length, the admissions process, dissertation requirements, career possibilities, and more. Explore the answers to frequently asked questions to help you learn more about the Dyson School’s program.

Next Steps: Apply to the Dyson School PhD in AEM

Ready to apply to our highly selective, fully funded PhD in Applied Economics and Management? We encourage you to officially start the application process today at the Cornell Graduate Admissions website.

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
• $90 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.

Economics Mentoring Program

Many students interested in an economics PhD experience disparate degrees of support in the application process. The Economics Mentoring Program (EMP, formerly known as AAMP) aims to mitigate these gaps by helping students from underrepresented groups connect with graduate student mentors in the economics PhD programs at Duke, Harvard, MIT, and Stanford. 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 EMP 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-Latin, 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 EMP welcomes participation among students at various stages of their economics studies, including undergraduates and college graduates. The EMP 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 22, 2024. Mentorship will begin over the summer and continue through Fall 2024. 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 EMP is a volunteer-based, student-run program. This program is not considered part of the admissions process for the economics PhD at Duke, Harvard, MIT, or Stanford nor will any student's participation in the EMP be considered by the graduate admissions committee at any school.

Please direct any questions to [email protected]  

To join the program, please click the link below to fill out the form. For more information, please visit our website. 

EMP application form:  https://forms.gle/tWvNRXRJQWEHhFn16 We will accept applications until July 22, 2024

Website:  www.economicsmentoringprogram.com  

• Youth Program
• Wharton Online

Applied Economics

Wharton’s highly selective phd program in applied economics offers students many resources not available at other institutions, such as 1:1 faculty to student ratio, five years of funding, and minimal teaching requirements..

Combining the faculties of the departments of Real Estate and Business Economics & Public Policy, Wharton’s Applied Economics program leverages the breadth and depth of its faculty to prepare students for careers doing frontier theoretical and empirical research. Students can focus on a variety of research areas, including Behavioral Economics, Development and International Economics, Energy and Environmental Economics, Health Economics, Industrial Organization and Regulation, Labor Economics, Law and Economics, Market Design, Public Economics, Risk and Insurance, Urban Economics and Real Estate. You can find the list of Applied Economics Faculty here.  Students may also develop an inter-disciplinary focus by taking courses and working with faculty in some of the other departments at Wharton such as Finance, Health Care Management, Management, and Marketing.

For more information on courses, please visit the University Graduate Catalog .

Sample Schedule

The course of study for the Ph.D. in Applied Economics requires the completion of 15 graduate course units. The common core consists of 3 theory courses and 3 statistics/econometrics courses. Students are also expected to master two field areas by passing two courses in each (total of 4 courses units). The remaining course units necessary to achieve 15 are split between the mandatory graduate student research seminars and other electives.

ADMISSIONS AND FINANCIAL AID

Students will apply for admission to the Wharton Program in Applied Economics, and may, if they wish, indicate a preferred field of study in their application. All else equal, the admissions committee may consider field choice in determining admission. Fellowship support will be in accordance with usual Wharton and University guidelines.

CORE REQUIREMENTS

Students will be required to master core materials in economic theory covering the topics of household decision-making, production theory, theory of markets and market failure, game theory, decision-making under uncertainty, and resource allocation in dynamic economies. The following courses will satisfy the three-course economic theory requirement:

Microeconomic Theory I: ECON 7010 Microeconomic Theory II: ECON 7110 Macroeconomic Theory: ECON 7200 or 7210 or FNCE 9240

Students will be required to master core materials in applied econometrics covering the topics of statistical inference, linear regression analysis, panel regression analysis, and estimation of models using discrete dependent variables. The following courses will satisfy the three-course econometric/statistics requirement:

Econometrics: ECON 7300, FNCE 9260, ECON 8310 or ECON 7310, BEPP 9110 and BEPP 9310

FIELD REQUIREMENTS

In addition to the core theory and econometrics materials, students will be required to master two applied fields by passing two courses in each field. Students will be free to offer their own field as a substitute with approval of the graduate group chair and (when relevant) an appropriate advisor from another Wharton graduate group.

• Development Economics BEPP 9410: Development Economics • Industrial Economics and Business Regulation: BEPP 9870: Industrial Organization and Competition Policy HCMG 9020: Special Topics of Health Services Research: Industrial Organization of Health Care ECON 8450: Empirical Methods in Industrial Organization • Market Design BEPP 9710: Market Design • Public Economics and Political Economy: BEPP 9330: Public Economics: Social Insurance & Government Expenditures HCMG 9030: Public Policy ECON 8410: Public Economics I ECON 8411: Public Economics II • Urban Economics and Real Estate: REAL 9450: Urban and Real Estate Economics REAL 9460: Advanced Topics in Urban Economics REAL 9470: Advanced Real Estate and Urban Economics • Behavioral Economics: BEPP 9040: Experimental Economics: Methods and Applications OIDD 9000: Foundation of Decision Processes OIDD 9040: Experimental Economics

In addition, all students must take elective courses to achieve the necessary 15 Course Credits to be eligible for Dissertation Status.

During the second and third year of the program students will be required to attend and actively participate in the graduate student research seminar. Students will also be responsible for presenting a paper of original research to the seminar before entering dissertation status. All students will also be required to attend the faculty Applied Economics Workshop during the 2nd and 3rd years.

BEPP 9000: Research Seminar BEPP 9620: Applied Economics Seminar

QUALIFYING EXAM

At the end of first year (usually in last week of May or first week of June), students are expected to take and pass the qualifying exam for Microeconomic Theory and the qualifying exam for Econometrics. These exams are written and graded by the Wharton Applied Economics PhD Committee. If a student fails in one qualifying exam, another opportunity to take that exam will be given at the end of the second year.

Students can also request a waiver for one or both exams if they perform well in the courses associated with each exam. A satisfactory performance for Microeconomic Theory, for example, corresponds to having at least a B- or better in each micro course, and an average of B or better.

FACULTY ADVISORS

Students are required to select or are assigned two faculty advisors in the beginning of the second year in the program. Because the student will not have had all of the major field courses at that time, it is possible that a student will later decide to change advisors; such an eventuality will be considered a normal outcome. In addition, since students will not have had all of the major field course work by June of their first year, they should “read ahead” in their chosen fields to begin identifying a research topic for the Second Year Paper. Students are expected to initiate meetings with faculty members to discuss possible research topics, and these meetings should begin as early as possible after the student enters the program and are part of the process of getting to know the faculty and learning about the field.

CANDIDACY PAPER

The Program in Applied Economics provides students with several opportunities to conduct research. All students are required to write a candidacy paper in their second year to be submitted in the summer of the second year in the program. This paper should demonstrate the student’s ability to conduct PhD quality research. This is often used as the Master’s Thesis submission- and, as the title implies, it is one of the requirements for admission to Doctoral candidacy.

The deadline for submission of the Candidacy Paper is strictly enforced, and failure to complete and submit the paper by the deadline (July 15 of the end of the student’s second year in the program) is grounds for dismissal from the program. The paper must be submitted to the faculty members who are the student’s principal advisors for the project, as well as to the Doctoral Coordinator. A copy of the candidacy paper, together with letters from two faculty members noting approval of it, must be in each student’s file in the Program office prior to the start of the student’s fifth term (typically the start of the third year). Failure to fulfill this requirement may result in the student being dropped from the program.

The main objective of the candidacy paper is to demonstrate the student’s ability to do original research. Often the Candidacy Paper is submitted for publication, and it can also serve as the foundation for PhD research, possibly as a dissertation essay. The Candidacy Paper must be solely authored by the student, not co-authored with the faculty advisor.

Milestones on the road to the candidacy paper are as follows:

September of 2nd year in the program Fall semester, 2nd year Spring semester, 2nd year Faculty advisors selected Candidacy Paper proposal Work on Candidacy paper Submit final version of Candidacy Paper

ADMISSION TO CANDIDACY Before admission to candidacy, the student is required to:

• Complete all required coursework, including all core courses, with at least a B + or better in each course and with an average GPA of B+ or better. (For some courses, a passing grade on a qualifying exam can substitute for a grade below B.)
• Pass both qualifying exams or request exam waivers.
• Submit a satisfactory candidacy paper

THE PHD DISSERTATION The best ways to find a dissertation topic is to talk to the program faculty and read the literature. Discussions with faculty can range from “cold calls,” where the student asks the faculty member for topic suggestions, to more proactive visits where the student discusses potential topic ideas that have come up in course work or research seminars. Students should also take a close look at recent dissertations written by students in their major field as well as dissertations written by students from other Wharton departments.

There are two primary models for the organization of dissertations. The “single study” traditional dissertation, and the essay approach. In the latter approach, two or three essays are generally found acceptable by the student’s dissertation committee, depending on length and quality. Dissertation essays are more prevalent for a number of reasons, including most importantly, (a) the Candidacy Paper may be permitted to constitute a substantial part of one essay, (b) an essay can be used as an interview paper (see discussion below), and (c) if properly structured, an essay can often be converted into a paper to be submitted to a journal. Whether two or three essays are appropriate depends on the length and complexity of the research undertaken and is determined by the student’s dissertation committee.

Dissertation essays may be co-authored, although the extent to which this is appropriate will depend on each student’s topic, doctoral committee, and faculty advisor. A circumstance where a co -authored essay might be appropriate could arise from a joint research project with a faculty member. However, the student’s dissertation must include at least one essay that is solely authored by the student. The dissertation process must begin with the selection of a principal advisor or co-advisors. Each student is responsible for this selection, and then the student works with the advisor(s) to select the dissertation topic and begin exploratory research. The student and advisor then work together to select committee members. Committee members can be approached to join the committee by either the student or the principal advisor(s). The student should work with the advisor(s) to arrange a mutually agreeable procedure. The student should review the Wharton Doctoral Programs Policies and Procedures, to be sure that the committee structure satisfies the overall requirements of the Wharton Doctoral Program.

Important: the PhD Dissertation proposal must be defended before the end of the fourth year in the program. Failure to defend can result in dismissal from the program.

GOING ON THE JOB MARKET The ultimate objective of the Wharton Doctoral Program is to prepare our students for a teaching and research career, ideally at a college or university. Because the placement process for academic jobs is lengthy, students should become familiar with it well in advance of the “job market year.” The program provides full support for students going on the job market, and a series of meetings and timelines are provided to the students during the fourth and fifth years in the program.

PROGRAM ADMINISTRATION The program will be administered by the graduate group in Applied Economics. Primary appointments in the Departments of Business Economics and Public Policy and Real Estate will be automatic members of the graduate group and comprise the initial membership of the graduate group. The graduate group can extend membership to other Wharton and University faculty as they consider appropriate. The graduate group will decide on its preferred administrative structure. Currently, the chairs of the departments of Real Estate and Business Economics and Public Policy are responsible for jointly appointing a PhD Coordinator that will serve a two-year term, with the option to renew it for another two years. The PhD Coordinator is also the representative for the group to the Doctoral Executive Committee.

STUDENT INVOLVEMENT Students are expected to spend full-time on their coursework and research during the first two years of the program. In subsequent years, students are expected to work with faculty, preferably as research assistants or co-authors, thereby gaining the experience required to be successful researchers. Students are also required to TA a core course (any alternatives will need to be approved by the PhD Coordinator) each in their 3rd year and 4th year of the program as a funding requirement. Other activities that further the student’s research careers are encouraged, subject to the approval of the doctoral coordinator (this includes teaching assistant positions). Failure to communicate with the doctoral coordinator about a research assistant or teaching job may result in cancellation of your scholarship.

Get the Details.

Visit the Applied Economics site for details on program requirements and courses. Read faculty and student research and bios to see what you can do with an Applied Economics PhD.

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).

UCLA Department of Economics

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PhD in Economics

The PhD in Economics program offers a thorough grounding in the basic tools of economics, statistics, and mathematics through a series of core courses followed by a series of well-defined seminars that cover areas of specialization within economics.

In addition to gaining basic analytical tools, candidates learn to develop economic intuition into economic problems and acquire the necessary mind-set to teach and conduct independent research as a university professor.

The curriculum consists of four components: required courses, an independent research paper, a comprehensive exam, and a dissertation.

The PhD in Business Administration consists of a core sequence of classes in a variety of business fields, and an area of concentration consisting of a minimum of 18 hours of classes within a particular field.

The Economics concentration consists of two semesters of microeconomic theory, two semesters of econometrics, one semester of macroeconomic theory, and one semester of mathematical economics. Students will take an additional two-semester seminar sequence in an area of specialization within economics.

Course requirements

Students complete a program of study that leads to competency in three areas: quantitative methods, economics, and a subfield of specialization within economics. The requirements of the program of study are typically satisfied by completing 18 courses in the first two and a half years of the program. Required courses include seven courses in quantitative methods and econometrics, six in economics, and several electives. In some cases, coursework prior to entering the program may be substituted for required courses.

Research paper

Students are expected to engage in research early in the program. All students work at least part-time as research assistants during the first two years of the program. By the end of their second year, students are required to submit a research paper as part of the ECON 9099: Doctoral Special Topics in Economics seminar.

Comprehensive examination

Satisfactory performance on a written comprehensive examination marks the student's transition from coursework to full-time thesis research. The examination is intended to allow the student to demonstrate substantial knowledge of economics, econometrics and quantitative methods.

The candidate will have completed most course work, including all economics coursework, and submitted a satisfactory research paper prior to taking the comprehensive examination.

Dissertation

The doctoral dissertation is expected to be a substantial, significant and original contribution to knowledge. It is prepared under the guidance of a thesis committee of three or more faculty members (including one from outside the Economics department) selected by the candidate in consultation with his or her thesis advisor. Early in the process, the candidate submits a thesis proposal. The proposal is presented in a seminar to which the economics faculty and doctoral students are invited. The purpose of the presentation is to give the student an opportunity to hear the suggestions and comments of members of the UC economics community while the research plan is still fluid.

A thesis-defense seminar, open to the entire University of Cincinnati academic community, is held when the research is completed.

Required coursework

*Many prerequisite courses can be waived for students with master’s degrees in business disciplines.

Required introductory courses

• Introduction to Research and Teaching: taken the first semester in the program.
• Business Core: if you do not have an MBA degree or you have not satisfied the Basic Business Knowledge (BBK) requirements, you are required to become familiar with the basic body of knowledge (e.g, marketing, management, and accounting). Many of these courses can be waived if you have a master's degree in a business discipline.

Core quantitative methods (five courses)

• Probability Models (BANA 7031)
• Statistical Models (BANA 7041)
• Econometrics I and II (9010 and 9011)
• Mathematical Economics (9018)

Typical PhD electives (five courses)

• Forecasting/Time Series Analysis
• Asset Pricing Theory
• Foundations of Finance
• Corporate Finance Theory
• Real Estate Analysis
• SAS Programming
• Data Mining
• Financial Mathematics I and II
• Applied Probability and Stochastic Processes
• Linear Algebra

Economics seminars (six courses):

ECON 9019: Advanced Macroeconomic Theory

• Macroeconomic theory taught at the PhD level. Three credit hours.

ECON 9020: Advanced Microeconomic Theory I

• Microeconomic theory taught at the PhD level. This course introduces students to consumer theory, producer theory, industrial organization, game theory, risk and uncertainty, general equilibrium analysis and welfare economics. Three credit hours.

ECON 9021: Advanced Microeconomic Theory II

• Microeconomic theory taught at the PhD level. A continuation of ECON 9020. Three credit hours.

ECON 9022: Advanced Topics in Econometrics I

• Econometric theory taught at the PhD level. This course covers the theory of econometrics including coverage of the empirical methodologies used in testing and investigating economics topics, and empirical examinations of important economic issues. Three credit hours.

ECON 9030: Advanced Topics in Economics I

• This course introduces students to current economic research. Each topic will be addressed in three respects: 1) commonly used empirical methodologies; 2) main empirical findings; and, 3) the relation between empirical research and theory. Three credit hours.

ECON 9031: Advanced Topics in Economics II

• This course covers a series of selected research topics that are not currently addressed within the department's other semester-length courses. Representative topics that may be covered include urban and regional economics, labor economics, industrial organization, real estate economics, and public finance. Three credit hours.

ECON 9099: Doctoral Special Topics in Economics

• Most students take this course during their second year in the program. In this colloquium the student develops an independent, original research idea under the supervision of one or more faculty mentors. During the course the student carries out all the theoretical analysis and empirical tests required to convert their research question into an original paper. The colloquium culminates with the circulation of the finished research paper and a professional presentation of the research to the entire faculty. Three credit hours.

Names of Lindner faculty appear in bold . Names of Lindner PhD candidates are underlined .

Cornwall Gary J., Jeffrey A. Mills , Beau Sauley , and Huibin Weng . “Predictive Testing for Granger Causality via Posterior Simulation and Cross Validation.” Advances in Econometrics, forthcoming.

Jeffrey Strawn , Jeffrey Mills , Gary Cornwall , Sarah Mossman, Sara Varney, Brooks Keeshin, Paul Croakin,  (2018). Buspirone in Children and Adolescents with Anxiety:  A Review and Bayesian Analysis of Abandoned Randomized Controlled Trials. Journal of Child and Adolescent Psychopharmacology , 2-9.

Chang, L.V ., Shah, A.N., Hoefgen, E.R., Auger, K.A., Weng, H ., Simmons, J.M., Shah, S.S., Beck, A.F. (2018), “The economic burden of lost earnings and non-medical expenses of pediatric hospitalizations”, Pediatrics, Volume 142, number 3.

Strawn, J. R., Mills, J. A ., Sauley, B. A ., & Welge, J. A.. (2018) "The impact of antidepressant dose and class on treatment response in pediatric anxiety disorders: a meta-analysis." Journal of the American Academy of Child & Adolescent Psychiatry 57.4: 235-244.

Jeffrey Strawn, Eric Dobson, Jeffrey Mills , Gary Cornwall , Dara Salosky, Boris Birmaher, Scott Compton, John Piacentini,  (2017). Placebo Response in Pediatric Anxiety Disorders:  Results from the Child/Adolescent Anxiety Multimodal Study. Journal Adolescent and Child Psychopharmacology, 501-508.

Cornwall, Gary , and Olivier Parent ,  (2017). Embracing Heterogeneity:  The Spatial Autoregressive Mixture Model. Regional Science and Urban Economics , 148-161.

Cornwall, Gary , Changjoo Kim, and Olivier Parent (2017). “At the Frontier Between Local and Global Interactions in Regional Sciences.” Regional Research Frontiers-Vol. 2, pp. 141-149. Springer, 2017.

University of South Florida

Department of Economics

College of Arts and Sciences

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Ph.d. in economics, doctor of philosophy in economics.

The Ph.D. in economics program at the University of South Florida allows students to specialize in health economics and industrial organization as well as in other applied areas of microeconomics. This degree prepares students for careers as professional economists in academia, business and government.

Program Requirements

The program consists of required courses, field courses, and structured graduate electives. Upon completion of all coursework and passing of the First-Year and Second-Year qualifying examinations, students enter candidacy where they must successfully complete and defend a doctoral dissertation. More details on these requirements can be found the Department's Handbook for Doctoral Students and in the USF Graduate Catalog .

Required coursework for the Ph.D. includes the following:

• ECO 6115 Microeconomics I
• ECO 7116 Microeconomics II
• ECO 6206 Macroeconomics I
• ECO 7207 Macroeconomics II
• ECO 6405 Mathematical Economics I
• ECO 7406 Mathematical Economics II
• ECO 6424 Econometrics I
• ECO 6425 Econometrics II
• ECO 7426 Econometrics III

Students must complete at least two field sequences from within economics. Each field sequence is comprised of two courses for a total of four field courses. The department currently offers fields in the economics of health care, industrial organization, labor economics, and urban and regional economics.

The choice of structured graduate electives will be made with advice and consent of either the PhD Director or the student’s (co-) Major Professor(s). These electives will be used to strengthen the student’s preparation to undertake independent research.

To be eligible to graduate, in addition to the requirements stated above, students must satisfy all Office of Graduate Studies graduation requirements such as maintaining an overall and economics GPA of at least 3.0 and meeting residency requirements.

A brochure describing the Ph.D. program is available.

Related Links: Graduate Catalog Office of Graduate Studies Apply to USF

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• Resources for Students

Alphabetical list of US graduate programs in economics

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PhD Programs

• Accounting & Management
• Business Economics
• Health Policy (Management)
• Organizational Behavior
• Technology & Operations Management

Students in our PhD programs are encouraged from day one to think of this experience as their first job in business academia—a training ground for a challenging and rewarding career generating rigorous, relevant research that influences practice.

Our doctoral students work with faculty and access resources throughout HBS and Harvard University. The PhD program curriculum requires coursework at HBS and other Harvard discipline departments, and with HBS and Harvard faculty on advisory committees. Faculty throughout Harvard guide the programs through their participation on advisory committees.

How do I know which program is right for me?

There are many paths, but we are one HBS. Our PhD students draw on diverse personal and professional backgrounds to pursue an ever-expanding range of research topics. Explore more here about each program’s requirements & curriculum, read student profiles for each discipline as well as student research , and placement information.

The PhD in Business Administration grounds students in the disciplinary theories and research methods that form the foundation of an academic career. Jointly administered by HBS and GSAS, the program has four areas of study: Accounting and Management , Marketing , Strategy , and Technology and Operations Management . All areas of study involve roughly two years of coursework culminating in a field exam. The remaining years of the program are spent conducting independent research, working on co-authored publications, and writing the dissertation. Students join these programs from a wide range of backgrounds, from consulting to engineering. Many applicants possess liberal arts degrees, as there is not a requirement to possess a business degree before joining the program

The PhD in Business Economics provides students the opportunity to study in both Harvard’s world-class Economics Department and Harvard Business School. Throughout the program, coursework includes exploration of microeconomic theory, macroeconomic theory, probability and statistics, and econometrics. While some students join the Business Economics program directly from undergraduate or masters programs, others have worked in economic consulting firms or as research assistants at universities or intergovernmental organizations.

The PhD program in Health Policy (Management) is rooted in data-driven research on the managerial, operational, and strategic issues facing a wide range of organizations. Coursework includes the study of microeconomic theory, management, research methods, and statistics. The backgrounds of students in this program are quite varied, with some coming from public health or the healthcare industry, while others arrive at the program with a background in disciplinary research

The PhD program in Organizational Behavior offers two tracks: either a micro or macro approach. In the micro track, students focus on the study of interpersonal relationships within organizations and the effects that groups have on individuals. Students in the macro track use sociological methods to examine organizations, groups, and markets as a whole, including topics such as the influence of individuals on organizational change, or the relationship between social missions and financial objectives. Jointly administered by HBS and GSAS, the program includes core disciplinary training in sociology or psychology, as well as additional coursework in organizational behavior.

Accounting & Management  

Business economics  , health policy (management)  , marketing  , organizational behavior  , strategy  , technology & operations management  .

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PhD Programs in Economics in the United States

Study economics in the united states.

If you are looking to do your PhD degree in economics abroad, United States is a highly popular postgraduate study destination. With over 4,000 higher education institutions, the US offers a great number of doctoral programs in various economics research subjects. The USA is home to hundreds of world-leading universities, colleges and business schools like Stanford University , Massachusetts Institute of Technology , Harvard University , The University of Chicago , Yale University , University of California, Berkeley , and Duke University . They all rank in the Top 10 of the Times Higher Education World Rankings for Economics . Other great economics departments are located at the University of Pennsylvania ,  Northwestern University ,  New York University ,  University of Michigan-Ann Arbor , University of California, Los Angeles , or  Columbia University .

Every year the United States is attracting thousands of international postgraduate students with great quality higher education institutions and highest paying career opportunities. The American educational system offers comprehensive approach to postgraduate education, combining research opportunities and a great deal of teaching.

Pursue your research interests, be it economics theory, macroeconomics, econometrics, health economics, financial economics, behavioral economics, applied economics or development economics. Start your postgraduate training in the US and enjoy brilliant on-campus facilities and highly sociable student life.

Key Information

• Academic year: August – May/June • Study length: 4-6 years • Type of degrees: Doctor of Philosopy (Ph.D or D.Phil.), Doctor of Science (D.Sc.), Doctor of Business Administration (D.B.A.) • Fees: between 28,000 USD and 40,000 USD/year (funding usually covers most or all costs) • Scholarships:   KC Mahindra Scholarships , Hsiao Economics Scholarships , Rotary Foundation Graduate Scholarship Program , Hubert H. Humphrey Fellowship Program , Ritchie- Jennings Memorial Scholarship , scholarships from American universities • Living costs: 1600 USD – 2800 USD • Average starting salary: 148,000 USD for economists with a PhD degree ( INOMICS Salary Report )

Highlighted PhD courses in economics in the United States

• PhD Program

Gabelli School of Business PhD Program – Full Funding Scholarships Available

Inomics advice articles for postgraduate research students.

Why do a PhD?

10 Most Affordable Countries to Do Your Economics PhD

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Sample Motivation Letter For Your Economics PhD Application

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Department of Economics

Maria Betto

Assistant professor, contact information.

• [email protected]
• Curriculum Vitae
• Wyman Park Building 594
• Personal Website

Research Interests:  Choice and Decision Theory, Auctions, Information and Mechanism Design

Education:  PhD, Northwestern University

Maria is a microeconomic theorist with interests in  Choice  and  Decision Theory ,  Auctions ,  Information  and  Mechanism Design . She received her PhD in Economics from Northwestern University.

Harris makes a middle class economy pitch: 3 takeaways from North Carolina policy rollout

WASHINGTON — Vice President Kamala Harris said the inflation-battling agenda she spelled out on Friday is just the beginning of her economic plans that she'd try to turn into policy should she win the White House in November.

More detailed propoals to increase wages, help small business owners and fight poverty are still to come, the 2024 Democratic nominee for president suggested.

"In the weeks to come, I will address in greater detail my plans to build an opportunity economy," Harris said during an event in the 2024 battleground state of North Carolina.

Harris tailored her policy rollout to topics intended to help middle class Americans stretch their money further. Her proposals included a federal ban on price gouging  of food and groceries and tax credits for new parents and lower-income workers.

Food, rent, gas, back to school clothes, prescription meds — it all adds up, she said.

"Today I will focus on one element that's on the minds of many Americans as they pay their bills at the kitchen table or walk the aisle of a grocery store . And that is lowering the cost of living ," Harris said in Raleigh.

Here are three takeaways from her speech:

Harris puts housing front and center

Harris pledged that "by the end of my first term, we will end America's housing shortage" by building three million new affordable homes and rentals.

"And we will make sure that those homes actually go to working and middle class Americans , not just investors," she said.

Harris also said she would target artificially high rentals by fighting for a law that cracks down on the use of price-fixing software.

In one of the more detailed plans that Harris put forward on Friday, she said would offer up to $25,000 to first-time homebuyers to put toward down payments.

Emphasis on the middle class

Harris said for most of her childhood, her mother Shyamala was a renter. Her mother saved for more than a decade, Harris said, to buy her first home.

"I grew up in a middle class household ," Harris declared on Friday.

It was one of several anecdotes Harris has shared to make the case that she understands the needs of voters.

Harris said she worked at McDonald's while she was in college. She did it for spending money, she said, but saw first-hand how hard it was for coworkers who were raising families on their paychecks and working multiple jobs.

Turning the tables on Trump

Donald Trump 's campaign has labeled Harris' proposed price controls as "socialist" and argued that her pledge to punish businesses accused of breaking the rules are rooted in authoritarianism.

At her event on Friday, Harris hit back. She described Trump's proposed tariffs as a "national sales tax" on everyday goods that Americans import.

Harris said his plan would cost a typical family $3,900 a year, a statistic included in a report that was released this week by the liberal Center for American Progress.

"At this moment when everyday prices are too high, he will make them even higher," she said.

Trump had hammered Harris in a North Carolina speech of his own and at a Thursday news conference that served as a prebuttal to the debut of her economic plans.

But on Friday, as she sough to turn the tables, she said, "He offered no serious plans to reduce costs for middle class families. No plan to expand access to housing or healthcare."

"And that, I think actually for most of us was not surprising," Harris added.

Graduate Programs

Welcome to graduate studies in economics.

The Department of Economics is well-known for research in empirical, applied microeconomics, macroeconomics and econometrics. Students can study with experts in experimental economics, health economics, international trade and international finance, labour economics, monetary economics, population economics and public economics.

We pride ourselves in the quality of our esteemed faculty and research facilities, many of which have won awards and honours for the quality and impact of their research around the world. We also hold awards for high-quality classroom teaching and excellence in thesis supervision.

Graduate programs at McMaster are a modest size. Our programs provide a personalized approach to training. You will have many opportunities for interaction with faculty. Each year McMaster admits five to eight students to the PhD program.

McMaster offers a co-op option in all three of its graduate-level economics programs called the Work Integrated Learning (WIL) Stream .

Graduate Programs in Economics

Ma economics learn more.

A one-year program that provides advanced training in theoretical and empirical methods.

MA Economic Policy Learn More

Designed to train students in applied economic analysis with a strong policy orientation.

PhD Economics Learn More

Designed to prepare students to become professional, independent economic researchers.

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MA & MAEP Career Success Explore MA/MAEP Success Stories

In 2021, 75% of MA and MAEP graduates joined Canadian government branches, while 25% pursued doctoral studies at prestigious institutions.

PhD Career Success Explore PhD Success Stories

Our PhD graduates have embarked on diverse paths, excelling both in academia and beyond.

Work Integrated Learning Stream Learn About Work Integrated Learning

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McMaster’s Department of Economics has a long history of preparing PhD graduates for the competitive job market.

Questions about Graduate Studies in Economics? Contact Us:

Professor, Economics

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Areas of interest: International economics, Macroeconomics

Cynthia Zhao

Graduate Administrative Assistant, Economics

Areas of interest:

Understanding ideals and realities as a Berkeley Economics graduate

Xuan Lee with Professor J. Bradford DeLong

It was a March afternoon in 2023 and I was waiting on the fifth floor of Evans Hall. I don’t remember what day of the week it was, or if it was sunny outside. I do remember eyeing the history of Berkeley Economics on display in front of me. “1875 – Bernard Moses is appointed Professor of History. He is the first faculty member to teach political economy on the Cal campus.” Thinking of the Economics department’s roots in political economy and history, I hummed. What are the odds? I mused. And then, considering my own departure from the Political Economy department in favor of an Economics major, I wondered, Am I doing the right thing?

I loved studying Political Economy, and switching majors in my sixth semester felt especially daunting. I’d have access to reserved seats in economics classes in my final year, and this was certainly a perk — but what about the ideas I had come to believe in so deeply, that institutions matter, and that people matter too? Going from Political Economy to Economics seemed a betrayal of some kind. It felt almost like an admission that there should exist some form of ‘pure,’ scientific version of economics unencumbered by political systems and realities.

Retrospectively, it shouldn’t have been surprising that the instatement of a political economy-loving Professor of History marked the beginning of Berkeley Economics. In hindsight, it has also become clear that my apprehension around taking up the major was unfounded. Berkeley’s department of economics has, at least in my experience, shown strong awareness of the institutional roots and deep complexity of how economics plays out in the real world — and the field’s propensity to downplay them. Jim Campbell — widely beloved and well known for his love of pinball, sneakers, and sushi — opens ECON 1 with a clear-eyed lecture on economics and the world. In it, he introduces the field as a whole. Most memorably to me, however, he grapples with economics as it is, neither simplifying nor sugarcoating but confronting ideas such as that all models are wrong, but some are useful. He discusses normative and positive economics, pointing out that subjective beliefs influence economic judgment. He acknowledges that tradeoffs can be difficult, but often must be made in a resource-scarce world.