Introduction to Ph.D. Degree and Program
The Ph.D. is the most advanced degree in the field of economics and is generally
considered a research degree.
Earning a Ph.D. typically involves several years of post-baccalaureate study,
including advanced courses in microeconomics, macroeconomics, quantitative
analysis, and econometrics, followed by courses in the student's field of
specialization.
At Western universities, in particular in the US most doctoral programs require
students to pass one or more examinations (often called preliminary, qualifying, or
core examinations) before they are allowed to continue their Ph.D. studies by
taking courses in their fields of specialization.
After all coursework is completed, students develop a research plan for a doctoral
dissertation. The proposed research path is the subject of an oral examination
before the research path is approved. The Ph.D. is awarded after successful defense
of the doctoral dissertation, usually during a final oral examination.
Who can apply for Ph.D. Program in Economics?
Students from a wide variety of backgrounds earn graduate degrees in economics. This
includes economics and non-economics majors, those with and without prior graduate
training, and those with and without prior economics employment experience.
To decide which program is the best fit, potential students should examine their own
qualifications (including their GRE scores, their GPA, and their mathematical
preparation) as well as the methodological approach, fields of specialization, size of
program, typical time-to-degree, required examinations, financial aid, emphasis on
mathematics, job prospects, and location of the programs to which they apply.
Careers with Ph.D. degree in Economics
Individuals with graduate degrees in economics pursue a wide variety of careers,
including:
Government (e.g., the Federal Reserve, the Federal Deposit Insurance
Corporation, the Federal Trade Commission, the Centers for Disease Control, the
General Accounting Office)
Academia (e.g., universities, four-year colleges, community colleges, and
technical colleges)
Business/Industry (e.g., credit agencies, banks, consulting firms, brokerage firms)
International Organizations (e.g., the World Bank, the International Monetary
Fund)
Research Organizations (e.g., Rand, the National Bureau of Economic Research)
Timeline for applying to study for a Ph.D. in economics
May to September: Research and Begin Selecting Schools
September: Practice for the Graduate Record Exam. This could include using
an on-line preparation website, a printed or electronic study guide (widely
available at bookstores), or taking a specific course. The test is administered
by Educational Testing Service, and their website (www.ets.org) provides
extensive information on the GRE.
October: Take the GRE for 1st time by October: Contact individuals who will
write letters of recommendation for you. Potential factors to consider when
soliciting letter writers are the degree to which he/she can assess your potential
abilities in graduate school (including your mathematical background and your
analytical skills) and his/her prestige. Non-native speakers may also want to
have supplementary letters addressing written and verbal communication
skills.
Timeline for applying to study for a Ph.D. in economics
November: Re-take the GRE, if needed.
Statement of Purpose
Prepare Applications and
December to Early January: Applications Generally Due
February to April: Acceptance Letters Received
August: Begin Graduate School
Recommended Mathematical Training to Prepare for
Graduate School in Economics
Although economics graduate programs have varying admissions requirements,
graduate training in economics is highly mathematical.
Most economics Ph.D. programs expect applicants to have had advanced calculus,
differential equations, linear algebra, probability theory and mathematical
statistics.
Many applicants have completed a course in real analysis. This means that
undergraduates thinking about graduate school in economics should take 1-2
mathematics courses each semester.
Recommended Mathematical Training to Prepare for
Graduate School in Economics
There are some excellent textbooks in Russia that can help you gain solid
mathematical background for your graduate study in economics.
Высшая математика в упражнениях и задачах, aвторы: Данко П.,
Попов А и Кожевникова Т.
Сборник задач по высшей математике, авторы Лунгу К. и другие.
Теория вероятностей и математическая статистика. Учебное
пособие и руководство к решению задач, автор Гмурман В.Е.
Graduate Admission Requirements
Departments of Economics
http://econ.washington.edu/grad/admissions/requirements/
http://www.econ.pitt.edu/graduate/grad_req.php
Recommended Economics Departments and Universities
worldwide
Rankings of US Economics Departments are given in the following site:
http://grad-schools.usnews.rankingsandreviews.com/best-graduate-schools/tophumanities-schools/economics-rankings
https://www.aeaweb.org/gradstudents/Schools.php
Potential students are free to choose their desired programs and departments.
Recommended Economics Departments and Universities
worldwide
In the United States:
Boston College, Cornel, Michigan State, Penn State, Rice, Rutgers, Texas A&M,
University of California – Irvine, University of Illinois – Urbana-Champaign,
University of Southern California, Pittsburg, Washington-Seattle, Vanderbilt,
Washington State, Washington-St. Louis, Wisconsin-Madison.
In Europe:
European University Institute, Stockholm School of Economics, London Business
School, Central European University, University of Manchester.
In Asia:
National Graduate Institute for Policy Studies (GRIPS), National University of
Singapore.
In Australia:
National University of Australia, Sydney, Melbourne, South Wales