phd in usa economics

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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• 1st Year Students (2024)
• 2nd Year Students (2023)
• 3rd Year Students (2022)
• 4th Year Students (2021)
• 5th Year Students (2020)
• 6th Year Students (2019)
• Bridge to the Ph.D. Program

1022 International Affairs Building (IAB)

Mail Code 3308

420 West 118th Street

New York, NY 10027

PhD Program

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

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

How to apply

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

Meet our students

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

Doctoral Program

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.   

310: Macroeconomics

315: Development

325: Economic History

335: Experimental/Behavioral

341: Public/Environmental

345: Labor

355: Industrial Organization

365: International Trade & Finance

370: Econometrics

391: Microeconomic Theory

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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Ph.D. Program

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

• Requirements

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 . 

• The Program
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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.  

Fields of Study

Important dates.

Aug. 19, Mon. GSAS New Student Orientation week begins.

Aug. 26, Mon. Add/drop period opens, 8:00 am.

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

Full calendar

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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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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!

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The doctoral program in Economics at Harvard University is one of the leading programs in the world. Supported by a diverse group of faculty who are top researchers in their fields and fueled by a vast array of resources, the PhD program is structured to train and nurture students to become leading economists in academia, government agencies, the technology industry, finance and banking, and global policy organizations.

Harvard University and the Department of Economics are regularly ranked amongst the top programs in the world, and the consistency of success among our graduates is inspiring. We have educated several foreign heads of state, Nobel Prize Winners, Clark Medal Winners, MacArthur Fellowship Recipients - many of whom have returned to Harvard to offer their expertise and brilliance in shaping and nurturing our students.  Learn more about where we place our  graduates  and explore our  Program  to find out if a PhD in Economics is a good fit for you. 

Program Requirements

As a PhD student in the Economics program, students will spend the first two years in the program engaged in rigorous coursework designed to develop a foundational understanding of economics. In the following years, students transition to research under the guidance of strong faculty mentorship and participate in field workshops. In the final year, students conduct independent research and complete a dissertation.

The department of Economics at Harvard University is committed to seeking out and mentoring scholars who wish to pursue a rigorous and rewarding career in economic research. Our graduates are trailblazers in their fields and contribute to a diverse alumni community in both the academic and non-academic sectors. We invite you to learn more and apply to the PhD program in Economics. 

Financial Support

Students have access to a variety of funding and financial support opportunities.

• Research Funding
• Teaching Fellowships and assistants
• Additional external and internal resources

Learn more about financial support

Upcoming Events

Econ 3006 graduate student workshop in macroeconomics, location: .

Laura Nicolae (Harvard University) "The Effect of Inflation-Indexation on Employment: Evidence from Belgium" (with Gert Bijnens, Helene Hall, and Hugo Monnery)... Read more about Econ 3006 Graduate Student Workshop in Macroeconomics

ECON 3005 Graduate Workshop in Economic Development

Raul Duarte (Harvard) "Patronage in Customs"

Oluchi Mbonu (Harvard Kennedy School) "Market Segmentation and Flexibility in Informal Public Transportation: Evidence from Johannesburg's Minibus Taxi Networks"... Read more about ECON 3005 Graduate Workshop in Economic Development

Seminar in Behavioral & Experimental Economics

Suproteem Sarkar (Harvard Univesity), job market candidate, "TBD"

Meets with ECON 3001 Graduate Student Workshop in Behavioral Economics. ... Read more about Seminar in Behavioral & Experimental Economics

View all Workshops

View all Seminars

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 .

Department of Economics

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The rigorous PhD economics program at Johns Hopkins is among the best in the nation. With its world-class faculty, individualized attention, and small classes, the doctoral program is the centerpiece of the Department of Economics. From financial analysis to applied research, students are well-prepared to be leaders in the field.

The department is dedicated to maintaining strong research and teaching cores in applied microeconomics, economic theory, macroeconomics, and econometrics. Faculty members are experts in their fields, and they are actively involved in thesis supervision and research seminars . The unique Hopkins difference is the direct interaction and one-on-one attention students receive from faculty. Such attention opens the door to myriad opportunities for students to conduct groundbreaking research, apply complex economic theories, and make educated financial analyses and predictions.

Student Life

Graduate students enjoy a diverse social life outside of the department’s rigorous curriculum and their individual research interests. Faculty and students – from both inside and outside the department – have ample opportunities to spend time together socializing and discussing their studies. 

In addition to frequent student-planned happy hours, social outings, and local events, the Department of Economics and the JHU Graduate Representative Organization host many functions throughout the year.

• At the beginning of the fall semester, the Department of Economics hosts a welcome dinner and party to encourage new students to meet their peers, older students, and faculty.
• The department throws an annual holiday party immediately following completion of the first term, as well as an end-of-year barbecue to celebrate the completion of the spring semester.
• JHU sponsored coffee “happy hours” offer graduate students opportunities to meet people from outside their department.
• Intramural sports are popular among graduate students at Hopkins, and the economics department often forms teams that compete against other departments.

Students and faculty members often know each other by name before taking classes together, and first-year students enjoy straightforward access to faculty members and their more experienced peers. This collegial atmosphere makes for an easy transition into graduate life and comfortable communication once research begins in earnest.

Economics across JHU Schools

Carey business school.

The Johns Hopkins Carey Business School is the graduate business school of Johns Hopkins University and offers full-time and part-time programs leading to the Master of Business Administration and Master of Science degrees.  The School has a number of distinguished economists who interact with the faculty and graduate students in the Department of Economics.

School of Advanced International Studies

The Paul H. Nitze School of Advanced International Studies is a graduate school of Johns Hopkins University based in Washington, D.C., United States, with campuses in Bologna, Italy, and Nanjing, China. It is consistently ranked one of the top graduate schools for international relations in the world.  The economists at the school interact with the faculty and graduate students in the Department of Economics.

Advanced Academic Programs Applied Economics

The Johns Hopkins Division of Advanced Academic Programs is a  division of the Krieger School of Arts and Sciences in Washington DC which offers high-level graduate-level education in Applied Economics, with a variety of Masters Degrees designed to build on the intellectual strength and educational requirements of professional adults.

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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, takuo sugaya, juan carlos suárez serrato, 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, a kinky consistency: experimental evidence of behavior under linear and non-linear budget sets, policy learning with adaptively collected data, trading stocks builds financial confidence and compresses the gender gap, recent insights by stanford business, a “grumpy economist” weighs in on inflation’s causes — and its cures, if/then: why research matters, at what point do we decide ai’s risks outweigh its promise, placement director.

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About the Ph.D. Program

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

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

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

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

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

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

UCLA Department of Economics

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Graduate Program

Our Ph.D. program field faculty consists of 91 economists drawn from the Economics Department and other departments and colleges across the university, offering students many opportunities. Students can focus their doctoral research on a wide range of economics-related topics provided at least two Ph.D. program field faculty members approve the topic and agree to supervise the student. 

To view our Ph.D. program field faculty, click here .

The Economics Department is committed to fostering an inclusive culture and positive climate for all at Cornell University and in the Economics profession more broadly.  Learn more about our diversity and inclusion initiatives here.

Job Market Candidates

The department is proud to support and promote the work of our Ph.D. students who are seeking employment following the completion of their doctoral program. At Cornell University, economists are trained in many departments, schools and colleges, and as a part of multiple graduate fields.  All Ph.D. job candidates with training in economics are listed here .  The following websites include the subset of students who are receiving their degrees in Fields outside of Economics:  Field of Policy Analysis and Management  and  Dyson School of Applied Economics and Management .

More About the Graduate Program

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Economist to study collective action with NSF grant

From organizing a charity event to demonstrating against an authoritarian regime, collective action is one of the most basic and ubiquitous forms of strategic interaction in a society, says Marco Battaglini.

Belot research investigates employment match quality

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A&S honors 10 faculty with endowed professorships

With these new appointments, the number of A&S faculty appointed to endowed professorships since fall 2018 has reached 76.

Peter Loewen named dean of Arts and Sciences

Coming from the University of Toronto, where he is the director of the Munk School of Global Affairs and Public Policy, Loewen begins his five-year appointment as the Harold Tanner Dean of the College of Arts and Sciences Aug. 1.

Upcoming Events

Behavioral economics workshop: yan chen, law, economics, and, policy seminar (leap): jacob goldin, development workshop: manisha shah, joint macroeconomics and trade workshop: benny kleinman, george staller lecture: heidi williams, labor & public economics workshop: celeste carruthers.

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Graduate Programs

Thank you for your interest in the Graduate Program in Economics at the University of Washington. We offer a program leading to the Doctor of Philosophy degree in economics. The PhD program is for students interested in pursuing advanced study and doing original research in economics. This program develops professional economists for a variety of careers in teaching, in government, in industry, or with international agencies in the United States and abroad.

Quan Wen Professor, Graduate Program Director

Overview of the Doctoral Program's three phases .

Econ Graduate Student Resources

• Graduate Guide for Students (PDF) A detailed description of the current requirements for the MA and PhD degrees.
• Supervisory Committee Form (PDF) Students may either collect signatures or emails from their prospective committee members. Emails should be printed out and stapled to the back of the committee form.
• Supervisory Committee Change Request   Students need to collect signatures and submit this form for any committee changes
• Econ Grad Job Placement Profiles of some of our recent graduates who have been placed in both academic and non-academic positions.
• How We Allocate TAs (PDF) A description of the process by which students are ranked for funding purposes.
• Graduate Student Travel Policy (PDF) Please refer to this for questions about grad student travel reimbursement.

More Resources

• The UW Graduate School
• Graduate Opportunities & Minority Achievement Program
• Computational Finance Certificate Program
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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.

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

	Course number	Course title	Credits
Prerequisites* (One to five courses)		Introduction to Research and Teaching
		Basic Business Knowledge Courses:
	ACCT 7000	Foundations in Accounting	2
	FIN 7000	Foundations in Finance	1
	MGMT 7000	Organization	2
	MKTG 7000	Foundations in Marketing	1
	BANA 6037	Data Visualization	2
Core	BANA 7031	Probability Models	4
	BANA 7041	Statistical Models	4
	ECON 9010 and 9011	Econometrics I and II
	ECON 9018	Mathematical Economics
Elective options (Choose five courses)		Forecasting/Time Series Analysis
		Asset Pricing Theory
		Foundations of Finance
		Corporate Finance Theory
	RE 6031	Real Estate Analysis	3
		SAS Programming
		Data Mining
		Financial Mathematics I and II
		Applied Probability and Stochastic Processes
		Linear Algebra
Economics Seminars (Choose six courses)	ECON 9019	Advanced Macroeconomic Theory: Macroeconomic theory taught at the PhD level	3
	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.	3
	ECON 9021	Advanced Microeconomic Theory II: Microeconomic theory taught at the PhD level. A continuation of Econ 9020.	3
	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	3
	ECON 9030	Advanced Topics in Economics I: This course introduces students to current economic research. Each topic will be addressed in 3 respects: 1) commonly used empirical methodologies; 2) main empirical findings; and, 3) the relation between empirical research and theory.	3
	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, Public Finance.	3
	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.	3

*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.

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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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• Prerequisites
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• Resources for Students

Alphabetical list of US graduate programs in economics

			Washington D.C.	MA in Economics MA in International Economics Online MA in Economic Relations Online MA in Applied Economics Graduate Certificates offered in International Economic Relations, Gender Analysis in Economics, and Applied Microeconomics
			Tempe, AZ
			Auburn, AL	MS in Economics PhD in Applied Economics (administered jointly by the Department of Economics, the Department of Agricultural Economics and Rural Sociology, and the School of Forestry and Wildlife Sciences)
			New York, NY	MBA with courses in Economics & Finance PhD in Finance with economics focus
			Waco, TX	MS in Economics Graduate-level Minor in Economics for students enrolled in other graduate program PhD in Health Services Research (includes MS in Economics)
			Binghamton, NY	MA in Economics Accelerated BS/MA
			Boise, ID	MS in Economics and Master of Economics (M.Ec.) Graduate Certificates in Economics, Econometrics
			Chestnut Hill, MA
			Chestnut Hill, MA	MS in Applied Economics through Woods College of Advancing Studies
			Boston, MA	MA in Economics MA in Economic Policy MA in Global Development Economics Joint MBA/MA in Economics
			Bowling Green, OH	MA in Financial Economics
			Waltham, MA	PhD in International Economics and Finance
			Waltham, MA	MA in International Economics & Finance (offers 2-year option and 1-year accelerated option) Accelerated BA/MA International Economics & Finance
			Brooklyn, NY	MS in Business Administration - Economic Analysis
			Providence, RI
			Thousand Oaks, CA	MS in Quantitive Economics Post-Masters Certificate in Financial Economics & Risk Management
			Pasadena, CA	Offers Social Sciences PhD program which researches areas common to economics
			San Luis Obispo, CA	MS in Quantitative Economics
			Pomona, CA	MS in Economics
			Fullerton, CA	MA in Economics
			Hayward, CA	Not accepting graduate applications at this time MS in Quantitative Economics
			Long Beach, CA	MA in Economics
			Los Angeles, CA	MA in Economics (offers designations in Financial Economics, Global Economics, and Public Policy Economics)
			Sacramento, CA	MA in Economics
			Pittsburg, PA	PhD in Economics PhD in Financial Economics PhD in Behavioral Economics (Joint PhD with Dietrich College's Department of Social and Decision Sciences) Joint PhD in Economics and Public Policy
			Washington D.C.	MA in Intergral Economic Development Management
			Mount Pleasant, MI	MA in Economics Accelerated MA in Economics
		x	New York, NY	MA in Economics (offers specializations in Finance, Business Management, and Public Economics)
			Claremont, CA	MA in Economics MA in International Political Economy MS in Global Commerce & Finance  MA in Politics, Economics, and Business (joint program with the Peter F. Drucker and Masatoshi Ito Graduate School of Management) PhD in Economics Interfield PhD in Political Science & Economics
			Worcester, MA	program offers these specializations: International economics Spatial environmental economics Urban economics applications Applied economics Development economics
			Clemson, SC	MA in Economics MS in Economic Analytics PhD in Economics
			Cleveland, OH	MA in Economics (offers 1-year full time option and 2-year part time option)
			Golden, CO	MS in Mineral & Energy Economics Dual Degree MS in Mineral & Energy Economics and Petroleum Economics & Management (includes 8 months in France) PhD in Mineral & Energy Economics Online graduate certificate in economics and business
			Fort Collins, CO	MA in Economics MS in Agricultural and Resources Economics PhD in Economics PhD in Agricultural and Resource Economics
			New York, NY	MA in Economics
			New York, NY	MS in Financial Economics PhD in Business Economics
			Ithaca, NY
			Ithaca, NY	PhD in Applied Economics & Management MS in Applied Economics & Management Master of Professional Studies in Applied Economics & Management
			New York, NY
			Hunter, NY	BA/MA in Economics MA in Economics
			Chicago, IL	MS in Economics & Policy Analysis MBA (offers concentration in Applied Economics)
			Philadelphia, PA	MS in Economics MS in Economics & Computer Science PhD in Economics
			Durham, NC	MA in Economics MA in Analytical Political Economy MS in Economics and Computation MS in Quantitative Financial Economics MS in Statistical and Economic Modeling (through Duke Graduate School)
			Greenville, NC	MS in Quantitative Economics and Econometrics
			Ypsilanti, MI	MA in Economics MS in Applied Econometrics BA/MS in Quantitative Economics
			Atlanta, GA
			Boca Raton, FL	MS in concentrations in General Economics, International Economics, Econometrtics and Data Analysis, or Financial Economics
			Miami, FL	MA in Economics (offers specializations in General Economics and Applied Economics) Accelerated BA/MA in Economics
			Tallahassee, FL	MS in Applied Economics
			Bronx, NY	MA in Economics (1 year) MA in International Political Economy & Development Dual MA/JD in International Political Economy & Development and Law
			Fairfax, VA	MA in Economics Accelerated MA in Economics PhD in Economics
			Fairfax, VA	MA in Global Commerce and Policy
			Washington D.C.	MS in Applied Economics
			Washington D.C.	MA in Applied Economics MA in Political Economy MS in Economics
			Atlanta, GA	BS/MS in Economics PhD in Economics MS in Global Development
			Stateboro, GA	Online MS in Applied Economics Graduate Certificate in Applied Economics
			Atlanta, GA	MA in Economics PhD in Economics MA/BA Dual Degree
			Cambridge, MA
			Cambridge, MA	Joint PhD in Business Economics
			Washington D.C.	MA in Economics
			Hunter, NY	Accelerated BA/MA in Economics MA in Economics
			Normal, IL	MS in Applied Economics MS in Electricity, Natural Gas,and Tellecommunications Economics MS in Financial Economics MS Quantitative Economics MS in Applied Community and Economic Development (interdisciplinary programs: kinesiology & recreation, political science, sociology)
			Bloomington, IN	MA/MS in Economics DBA/MBA/M.Bus in Business Economics and Public Policy MBA in Economic Consulting
			Indianapolis, IN	MS in Economics
			Ames, IA	MS in Economics MS in Agricultural Economics PhD in Economics PhD in Agricultural Economics
			Baltimore, MD
			Baltimore, MD	MS Health Economics
			Washington D.C.	MS in Applied Economics (offers graduate certificates in Financial Management and Investments) Dual Degree MS in Applied Economics and MBA
			Washington D.C.	MA in International Economics and Finance
			New York, NY	MA in Economics, focus on Economic Justice
			Manhattan, KS	MA in Economics
			Kent, OH	MA in Economics (offers concentrations in Economic Analysis and Financial Economics)
			Bethlehem, PA	MS in Applied Economics PhD in Business and Economics
			Baton Rouge, LA	MS in Financial Economics Graduate Certificate in Econometrics
			Milwaukee, WI	MS in Applied Economics
			Cambridge, MA	Master of Applied Science in Data, Economics, and Development Policy
			Oxford, OH	MA in Economics
			East Lansing, MI	PhD in Economics PhD in Economics & Education
			Houghton, MI	MS in Applied Natural Resource Economics
			Murfreesboro, TN	MA in Economics
			Bozeman, MT	MS in Applied Economics Graduate certificate in Applied Economic Analysis
			Murray, KY	MS in Economics MS in Economic Development
			Las Cruces, NM	MA in Economics (offers concentrations in Econometrics, Public Policy, Public Utility Policy and Regulation) MS in Agricultural Economics Doctor of Economic Development (DED) Graduate Certificate in Public Utility Regulation & Economics Graduate Minor in Economics
			New York, NY	MA in Economics MS in Quantitative Economics
			New York, NY	Joint Economics PhD/JD Joint Economics/Law JD/MA
			Raleigh, NC	Accelerated BA/MA MA/MR in Economics (offers concentrations in Financial Economics, International Economics, Natural Resources and Environmental Economics, and Applied Economics)
			Fargo, ND	PhD in Applied Economics MS in Agribusiness & Applied Economics
			Boston, MA	Accelerated MS in Economics MS in Economics PhD in Applied Economics
			DeKalb, IL	MA in Economics Graduate Certificate in Financial Engineering Accelerated BS/MA
			Evanston, IL
			Evanston, IL / Sha Tin, Hong Kong	Dual MS in Applied Economics & Social and Economic Policy
			Columbus, OH	Offers a Graduate minor in Economics
			Athens, OH	MA in Economics
			Stillwater, OK	MS and PhD in Economics Master's program in Economics suspended at this time
			Norfolk, VA	MA in Economics
			Corvallis, OR	MA, MS, and PhD in Applied economics
			University Park, PA	MA in Economics
			Portland, OR	MA/MS in Economics Graduate Certificates in Environmental & Natural Resource Economics and Econometric & Data Analysis
			Princeton, NJ
			West Lafayette, IN	MS in Economics online option
			Troy, NY	MS in Economics Accelerated BS/MS in Economics
			Houston, TX	Master of Energy Economics
			New Brunswick, NJ	MA in Economics (offers Doctoral Program Preparation Option and Economic Data Analytics Option)
			Newark, NJ	MA in Economics Accelerated BA/MA in Economics
			Newark and New Brunswick, NJ	PhD in Management with concentration in Economics
			St. Cloud, Minnesota	MS in Applied Economics BA/MS Joint degree in Applied Economics Graduate Certificates in Data Analytics and Economics for Educators
			San Diego, CA	MA in Economics
			San Francisco, CA	MS in Quantitative Economics
			San Jose, CA	MA in Applied Economics
			Brookings, SD	Accelerated BA/MS in Economics MS in Economics (offers economic theory option and applied business economics option)
			Carbondale, IL	MA/MS in Economics Accelerated BA/BS and MA/MS in Economics
			Dallas TX	MA in Applied Economics MS in Applied Economics and Predictive Analytics
			Manchester, NH	Online MS in Applied Economics
			Stanford, CA	Joint MA/JD in Economics and Law Joint PhD/JD in Economics and Law Joint PhD in Economics and MPP Doctoral Minor in Economics
			Albany, NY	MA in Economics - list of concentrations here: PhD in Economics Graduate Certificate in Economic Forecasting
			Binghamton, NY	MA and PhD in Economics Accelerated BA/MA
			Buffalo, NY	MA Applied Economics
			Stony Brook, NY	MA in Economics (offers Basic and Advanced Tracks and options for certificates in Data and Computational Science and Finance)
			Syracuse, NY	MA in Economics Accelerated BS/MA in Economics
			New York, NY	MA in Economics & Education Joint PhD in Economics and Education
			Philadelphia, PA	Economics graduates are currently in abeyance
			College Station, TX	MS in Economics (offers concentrations in Financial Economics or Financial Econometrics) MS in Economics and Master of International Affairs Combined Program Accelarated BS/MS in Economics PhD in Economics
			Lubbock, TX	MA in Economics
			New York, NY
			New York, NY	MA in Economics MS in Economics MA Global Political Economy & Finance
			Medford, MA	MS in Economics Accelerated BS/MS in Economics Joint MS in Environmental Economics and Urban Planning Joint PhD in Economics and Public Policy Joint PhD in Human Development Economics
			New Orleans, LA	MA Policy Economics
			Tuscaloosa, AL	MA in Economics (offers focus areas in PhD prep, applied economics, and public policy economics)
			Tuscaloosa, AL	Joint MA/JD in Economics and Law Joint PhD/JD in Economics and Law
			Tucson, AZ	MS in Econometrics and Quantitative Economics PhD in Economics Joint PhD/JD
			Fayetteville, AR	MA in Economics MS in Economic Analytics
			Buffalo, NY	MA in Economics Joint MA/JD in Economics and Law MA in Economics and Education Policy Analysis MS in Econometric and Quantitative Economics (offers sub-plans in Financial Economics, International Economics)
			Berkeley, CA
			Davis, CA
			Irvine, CA	BA/MA in Philosophy, Political Science, and Economics
			Los Angeles, CA
			Merced, CA
			Riverside, CA
			La Jolla, CA
			Santa Barbara, CA	PhD in Economics Interdisciplinary doctoral offerings in Demography and Environmental Science & Economics
			Santa Cruz, CA	MS in Applied Economics and Finance
			Orlando, FL	MS in Economics
			Chicago, IL	MA in Social Sciences with Economics Concentration Joint PhD program in Financial Economics
			Cincinnati, OH	MS in Applied Economics
			Boulder, CO
			Denver, CO	MA in Economics MS in Health Economics PhD in Health Economics Accelerated BA/MA in Economics Accelerated BA/MS in Health Economics Economics dual graduate degrees offered with Applied Mathematics, Finance, and Public Administration
			Storrs, CT	MS in Quantitative Economics
			Newark, DE	MS in Economics and Applied Econometrics MA in Economics and Entrepreneurship for Educators Accelerated BS/MS in Economics PhD in Economics PhD in Economic Education
			Denver, CO	MA in Economics
			Detroit, MI	MA in Economics MA in Financial Economics MS in Applied Data Analytics
			Gainesville, FL	Accelerated BA/MA in Economics PhD in Economics Only in special circumstances are students admitted solely to the Master's program
			Athens, GA	BA/MA in Economics
			Honolulu, HI	BA/MA in economics
			Houston, TX	MA in Applied Economics
			Chicago, IL	MA in Economics MA in Applied Economics Joint MBA/MA in Economics
			Champaign, IL	MS in Policy Economics
			Iowa City, IA
			Lawrence, KA	MA in Economics Accelerated BA/MA in Economics Joint MA/JD in Economics and Law Possibility of other joint graduate degrees
			Lexington, KY
			Orono, ME	MA/MS in Economics MS in Financial Economics MS in Resource Economics & Policy MA in Global Policy & Economics
			Baltimore, MD	BA/BS and MA in Economics MA in Economic Policy Analysis (offers concentrations in Economic Policy, Public Policy, Economic Policy and Data Science)
			College Park, MD	MS in Applied Economics
			Amherst, MA	MA in Economics Accelerated MA for undergraduates at UMass Amherst, Mount Holyoke College, Hampshire College, Amherst College, and Smith College
			Boston, MA	MA in Applied Economics Accelerated BA/MA in Applied Economics
			Memphis, TN	Graduate certificates in Business Economics and Economic Analytics
			Miami, FL
			Ann Arbor, MI	MA in Applied Economics PhD in Economics Joint PhD programs in Business, Public Policy, and a student designed Interdependent Degree
			Minneapolis, MN	PhD in Economics offered through College of Liberal Arts MS/PhD in Applied Economics offered through Department of Applied Economics Accelerated BS/MS in Applied Economics Graduate Minor in Economics
			University, MS	MA in economics
			Columbia, MO	MA in Economics Joint MA in Economics & Statistics Joint MA in Economics & Mathematics Joint MA/JD in Economics and Law Online MA in Economics
			Kansas City, MO	MA in Economics Interdisciplinary PhD in Economics
			St. Louis, MO	Accelerated BA/MA in Economics MA in Economics Graduate Certificate in Applied Econometrics and Data Analysis
			Missoula, MT	MA in Economics
			Lincoln, NE	MA in Economics MS in Agricultural Economics PhD in Economics PhD in Agricultural Economics Masters of Education with Focus in Economics Education Joint PhD in Economics & Statistics
			Omaha, NE	MS in Economics Graduate Certificate in Economic Education
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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.

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About the Concentration in Health Economics and Policy

The concentration in Health Economics and Policy prepares doctoral students to address the most pressing challenges in health and health care through innovative, rigorous and interdisciplinary research in the field of health economics. This program integrates traditional training in economics with practical training in health policy and health services research to train the next generation of health economists.

The curriculum offers a broad exposure to the health economics literature and public health disciplines, and stresses the policy implications of these fields of research. The curriculum stresses a foundation in applied modern microeconomic theory, economic evaluation, quantitative methods and econometrics, including PhD-level courses from the Department of Economics in the Krieger School of Arts and Sciences.

Doctoral students are paired with a faculty adviser from the Health Economics concentration with similar research interests. Faculty in the Health Economics concentration are working in a variety of research areas including understanding health insurance design, the economic implications of health and health care disparities, market forces and health care prices, pharmaceutical economics, and payment design and access. Doctoral students will also have the opportunity to work with other faculty within the Department, as well as faculty from other Departments including International Health, Population, Family, and Reproductive Health, Biostatistics, the School of Medicine, School of Nursing, the Carey Business School, and the Department of Economics. Students also often work with various centers and initiatives across the University, including the Hopkins Business of Health Initiative.

What Can You Do With a Graduate Degree In Health Economics And Policy?

The program prepares students for successful research careers as health economists. Former students have gone onto careers in academia, government, research-oriented non-profits, and the private sector. Visit the  Graduate Employment Outcomes Dashboard to learn about Bloomberg School graduates' employment status, sector, and salaries.

View a list of selected recent graduates and dissertation titles for the PhD Concentration in Health Economics and Policy.

Curriculum for the Concentration in Health Economics and Policy

Browse an overview of the requirements for this PhD program in the JHU  Academic Catalogue  and explore all course offerings in the Bloomberg School  Course Directory .

Admissions Requirements

For general admissions requirements, please visit the How to Apply page.

Standardized Test Scores

Standardized test scores are  not required and not reviewed  for this program. If you have taken a standardized test such as the GRE, GMAT, or MCAT and want to submit your scores, please note that they will not be used as a metric during the application review.  Applications will be reviewed holistically based on all required application components.

Matthew Eisenberg, PhD, MPhil,

uses applied health economics methods to study how consumers make decisions about their healthcare.

Per the Collective Bargaining Agreement (CBA) with the JHU PhD Union, the minimum guaranteed 2025-2026 academic year stipend is $50,000 for all PhD students with a 4% increase the following year. Tuition, fees, and medical benefits are provided, including health insurance premiums for PhD student’s children and spouses of international students, depending on visa type. The minimum stipend and tuition coverage is guaranteed for at least the first four years of a BSPH PhD program; specific amounts and the number of years supported, as well as work expectations related to that stipend will vary across departments and funding source. Please refer to the CBA to review specific benefits, compensation, and other terms.

Need-Based Relocation Grants Students who  are admitted to PhD programs at JHU starting in Fall 2023 or beyond can apply to receive a need-based grant to offset the costs of relocating to be able to attend JHU.   These grants provide funding to a portion of incoming students who, without this money, may otherwise not be able to afford to relocate to JHU for their PhD program. This is not a merit-based grant. Applications will be evaluated solely based on financial need.  View more information about the need-based relocation grants for PhD students .

Questions about the program? We're happy to help. [email protected]

The Julis-Rabinowitz Center for Public Policy & Finance

Pre-Doctoral Economics Conference 2024

The Pre-Doc Conference offered a unique platform for pre-doctoral research assistants in economics and related fields to present their own research and exchange ideas on emerging topics. Organized as a professional development event, attendance is by invitation only. The conference was sponsored by the Industrial Relations Section, the Griswold Center for Economic Policy Studies, and the Julis-Rabinowitz Center for Public Policy & Finance. The conference organizing team included Monica Essig Aberg , Francisca Afantchao Biakou and Bernardo Esteves Wanderley .

  conference program and research abstracts

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Making a measurable economic impact

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How do you measure the value of an economic policy? Of an aid organization’s programming? For Saeed Miganeh, who completed an  MITx MicroMasters in Data, Economics, and Development Policy and is now enrolled in MIT’s master’s program in Data, Economics, and Design of Policy (DEDP), these are key questions he is determined to answer.

“Enrolling at MIT fed my interest in investigating the political economy questions surrounding the development of African countries,” he says. “It boils down to promoting pro-poor, evidence-based policymaking in the developing world.”

Miganeh earned a bachelor of business administration from the  University of Hargeisa and completed coursework in  Open University Malaysia’s master of business administration program. Before enrolling at MIT full time, he spent 14 years as an accountant with the United Nations’  International Organization for Migration . His work with the IOM fed his curiosity about intent and impact, particularly how political agendas can affect policy adoption, how safeguarding human rights strengthens peace and prevents conflict, how climate change adaptation policies affect the poor, and how promoting intra-African trade spurs economic growth in the continent.

“My journey to DEDP began when I earned a certificate in Monitoring and Evaluation offered by the International Training Center of the  International Labour Organization ,” he recalls. “Our course coach recommended taking MITx courses, which led me to the MicroMasters program.”

Saeed grew up and completed his early education in the self-declared Republic of Somaliland during the reconstruction period after a decade-long civil war with Somalia. He was inspired by his country’s development of a functioning democracy and economy after conflict. Miganeh’s work is all the more impressive for someone who has lived almost exclusively there — with the exception of four years as a child spent in Ethiopia due to the civil war in Somalia — and whose studies have taken place entirely in the republic.

“Africa is the new battleground for fighting global poverty in the 21st century,” he says.

Practices and progress toward measurable improvement

Before pursuing graduate study at MIT, Miganeh worked in youth development programs with the  Somaliland National Youth Organization . “I was the coordinator for one of their youth networks that worked on health,” he says. “After completing my undergraduate study, I assumed the position of finance officer for the organization.”

Later during his tenure with IOM, Miganeh learned that, while the organization has a central evaluation function that evaluates projects and programs, Somaliland’s governmental institutions lacked the capacity to effectively evaluate public policies and programs effectively. His work with the IOM helped him discover the practice areas where he might benefit from partnering with others possessing expertise he’d need to make a difference. “During my work with IOM, I was involved in development projects’ administrative and accounting functions,” he remembers. “I was interested in knowing how projects were impacting beneficiaries’ lives.

Miganeh wants to dig deeper into understanding and answering developing African countries’ political economy questions, noting that “development projects can consume lots of resources from design through implementation.” Ensuring these programs’ effectiveness is crucial to maximizing their impact and societal benefit. “Every country needs to have the necessary human capital to undertake evidence-based policy design to avoid wasting resources,” he says.

He returned to Somaliland to complete a capstone project that will allow him to put his newly acquired skills and knowledge to work. The project is an important part of his master’s program. “I’m [working] with the  Somaliland Ministry of Education & Science , assisting in institutionalizing evidence-based policymaking in the education sector,”  he says.

A unique vision to drive effective change

Miganeh is already planning to use the skills he’s acquiring at MIT to facilitate change at home. “I must discover and produce policy insights using my research and, with the guidance of the top academics and professionals at MIT and other institutions, translate them into effective policies that can make a demonstrable impact,” he says.

Miganeh reports that MITx’s MicroMasters and DEDP master’s programs help students develop the unique blend of skills — including the ability to leverage data-driven insights to design, implement, and evaluate public policies that improve societal outcomes — that can help them become effective agents of social change.

“My early enthusiasm for mathematics in high school and my later work in development organizations gave me the right combination to excel in the rigorous developmental economics coursework at MIT,” he says. “Once I’ve completed the program, I will establish a consultancy to advise government agencies, nonprofits, and the private sector’s corporate social responsibility departments on designing, implementing, and evaluating policies and programs.”

Miganeh lauded the faculty and students he encountered while continuing his studies. “I have developed professionally and personally,” he reports. He saved his highest praise for the Institute, however.

“Pursuing this master’s degree at MIT, where modern economics education has been reinvented and is home to faculty including Nobel laureates and other distinguished professors and scholars, was an enriching lifetime experience, personally and professionally,” he says. 

“Looking back on discussions of how to tackle the world’s development challenges is a memory that will stay with me for the rest of my life.”

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Gross Domestic Product (Second Estimate), Corporate Profits (Preliminary Estimate), Second Quarter 2024

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Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the second quarter of 2024 (table 1), according to the "second" estimate released by the U.S. Bureau of Economic Analysis. In the first quarter, real GDP increased 1.4 percent.

The GDP estimate released today is based on more complete source data than were available for the "advance" estimate issued last month.  In the advance estimate, the increase in real GDP was 2.8 percent. The update primarily reflected an upward revision to consumer spending (refer to "Updates to GDP").

The increase in real GDP primarily reflected increases in consumer spending, private inventory investment, and nonresidential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased (table 2).

Compared to the first quarter, the acceleration in real GDP in the second quarter primarily reflected an upturn in private inventory investment and an acceleration in consumer spending. These movements were partly offset by a downturn in residential fixed investment.

Current‑dollar GDP increased 5.5 percent at an annual rate, or $383.2 billion, in the second quarter to a level of $28.65 trillion, an upward revision of $23.2 billion from the previous estimate (tables 1 and 3). More information on the source data that underlie the estimates is available in the " Key Source Data and Assumptions " file on BEA's website.

The price index for gross domestic purchases increased 2.4 percent in the second quarter, an upward revision of 0.1 percentage point from the previous estimate. The personal consumption expenditures (PCE) price index increased 2.5 percent, a downward revision of 0.1 percentage point. Excluding food and energy prices, the PCE price index increased 2.8 percent, a downward revision of 0.1 percentage point.

Personal Income

Current-dollar personal income increased $233.6 billion in the second quarter, a downward revision of $4.0 billion from the previous estimate. The increase primarily reflected increases in compensation and personal current transfer receipts (table 8).

Disposable personal income increased $183.0 billion, or 3.6 percent, in the second quarter, a downward revision of $3.2 billion from the previous estimate. Real disposable personal income increased 1.0 percent, unrevised from the prior estimate.

Personal saving was $686.4 billion in the second quarter, a downward revision of $34.1 billion from the previous estimate. The personal saving rate —personal saving as a percentage of disposable personal income—was 3.3 percent in the second quarter, a downward revision of 0.2 percentage point.

Gross Domestic Income and Corporate Profits

Real gross domestic income (GDI) increased 1.3 percent in the second quarter, the same as in the first quarter. The average of real GDP and real GDI , a supplemental measure of U.S. economic activity that equally weights GDP and GDI, increased 2.1 percent in the second quarter, compared with an increase of 1.4 percent in the first quarter (table 1).

Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) increased $57.6 billion in the second quarter, in contrast to a decrease of $47.1 billion in the first quarter (table 10).

Profits of domestic financial corporations increased $46.4 billion in the second quarter, compared with an increase of $65.0 billion in the first quarter. Profits of domestic nonfinancial corporations increased $29.2 billion, in contrast to a decrease of $114.5 billion. Rest-of-the-world profits decreased $18.0 billion, in contrast to an increase of $2.3 billion. In the second quarter, receipts decreased $6.2 billion, and payments increased $11.8 billion.

Updates to GDP

With the second estimate, an upward revision to consumer spending was partly offset by downward revisions to nonresidential fixed investment, exports, private inventory investment, federal government spending, state and local government spending, and residential fixed investment. Imports were revised up. For more information, refer to the Technical Note . For information on updates to GDP, refer to the "Additional Information" section that follows.

Real GDP	2.8	3.0
Current-dollar GDP	5.2	5.5
Real GDI	…	1.3
Average of Real GDP and Real GDI	…	2.1
Gross domestic purchases price index	2.3	2.4
PCE price index	2.6	2.5
PCE price index excluding food and energy	2.9	2.8

First Quarter Wages and Salaries

BEA's standard practice for first-quarter estimates of wages and salaries is to incorporate data from the Bureau of Labor Statistics' Quarterly Census of Employment and Wages (QCEW) program as part of the annual update of the National Economic Accounts. New QCEW data for the first quarter of 2024 will be incorporated in next month's release along with the 2024 Annual Update of the National Economic Accounts (refer to box below for details).

BEA will release results from the 2024 annual update of the National Economic Accounts, which include the National Income and Product Accounts as well as the Industry Economic Accounts, on September 26, 2024. The update will present revised statistics for GDP, GDP by Industry, and gross domestic income. For details, refer to Information on 2024 Annual Updates to the National, Industry, and State and Local Economic Accounts .

*          *          *

Next release, September 26, 2024, at 8:30 a.m. EDT Gross Domestic Product (Third Estimate) Corporate Profits (Revised Estimate) Gross Domestic Product by Industry Second Quarter 2024 and Annual Update

Full Release & Tables (PDF)

Technical note (pdf), tables only (excel), release highlights (pdf), historical comparisons (pdf), key source data and assumptions (excel), revision information.

• GDP Lisa Mataloni  301-278-9083 [email protected]
• Corporate Profits Kate Pinard 301-278-9417 [email protected]
• Media Connie O’Connell 301-278-9003 [email protected]

Additional resources available at www.bea.gov :

• Stay informed about BEA developments by reading the BEA blog , signing up for BEA's email subscription service , or following BEA on X, formerly known as Twitter @BEA_News .
• Historical time series for these estimates can be accessed in BEA's interactive data application .
• Access BEA data by registering for BEA's data Application Programming Interface (API).
• For more on BEA's statistics, refer to our online journal, the Survey of Current Business .
• BEA's news release schedule
• NIPA Handbook : Concepts and Methods of the U.S. National Income and Product Accounts

Definitions

Gross domestic product (GDP), or value added , is the value of the goods and services produced by the nation's economy less the value of the goods and services used up in production. GDP is also equal to the sum of personal consumption expenditures, gross private domestic investment, net exports of goods and services, and government consumption expenditures and gross investment.

Gross domestic income (GDI) is the sum of incomes earned and costs incurred in the production of GDP. In national economic accounting, GDP and GDI are conceptually equal. In practice, GDP and GDI differ because they are constructed using largely independent source data.

Gross output is the value of the goods and services produced by the nation's economy. It is principally measured using industry sales or receipts, including sales to final users (GDP) and sales to other industries (intermediate inputs).

Current-dollar estimates are valued in the prices of the period when the transactions occurred—that is, at "market value." Also referred to as "nominal estimates" or as "current-price estimates."

Real values are inflation-adjusted estimates—that is, estimates that exclude the effects of price changes.

The gross domestic purchases price index measures the prices of final goods and services purchased by U.S. residents.

The personal consumption expenditure price index measures the prices paid for the goods and services purchased by, or on the behalf of, "persons."

Personal income is the income received by, or on behalf of, all persons from all sources: from participation as laborers in production, from owning a home or business, from the ownership of financial assets, and from government and business in the form of transfers. It includes income from domestic sources as well as the rest of world. It does not include realized or unrealized capital gains or losses.

Disposable personal income is the income available to persons for spending or saving. It is equal to personal income less personal current taxes.

Personal outlays is the sum of personal consumption expenditures, personal interest payments, and personal current transfer payments.

Personal saving is personal income less personal outlays and personal current taxes.

The personal saving rate is personal saving as a percentage of disposable personal income.

Profits from current production , referred to as corporate profits with inventory valuation adjustment (IVA) and capital consumption (CCAdj) adjustment in the National Income and Product Accounts (NIPAs), is a measure of the net income of corporations before deducting income taxes that is consistent with the value of goods and services measured in GDP. The IVA and CCAdj are adjustments that convert inventory withdrawals and depreciation of fixed assets reported on a tax-return, historical-cost basis to the current-cost economic measures used in the national income and product accounts. Profits for domestic industries reflect profits for all corporations located within the geographic borders of the United States. The rest-of-the-world (ROW) component of profits is measured as the difference between profits received from ROW and profits paid to ROW.

For more definitions, refer to the Glossary: National Income and Product Accounts .

Statistical conventions

Annual-vs-quarterly rates . Quarterly seasonally adjusted values are expressed at annual rates, unless otherwise specified. This convention is used for BEA's featured, seasonally adjusted measures to facilitate comparisons with related and historical data. For details, refer to the FAQ " Why does BEA publish estimates at annual rates? "

Quarterly not seasonally adjusted values are expressed only at quarterly rates.

Percent changes . Percent changes in quarterly seasonally adjusted series are displayed at annual rates, unless otherwise specified. For details, refer to the FAQ " How is average annual growth calculated? " and " Why does BEA publish percent changes in quarterly series at annual rates? " Percent changes in quarterly not seasonally adjusted values are calculated from the same quarter one year ago. All published percent changes are calculated from unrounded data.

Calendar years and quarters . Unless noted otherwise, annual and quarterly data are presented on a calendar basis.

Quantities and prices . Quantities, or "real" volume measures, and prices are expressed as index numbers with a specified reference year equal to 100 (currently 2017). Quantity and price indexes are calculated using a Fisher-chained weighted formula that incorporates weights from two adjacent periods (quarters for quarterly data and annuals for annual data). For details on the calculation of quantity and price indexes, refer to Chapter 4: Estimating Methods in the NIPA Handbook .

Chained-dollar values are calculated by multiplying the quantity index by the current dollar value in the reference year (2017) and then dividing by 100. Percent changes calculated from real quantity indexes and chained-dollar levels are conceptually the same; any differences are due to rounding. Chained-dollar values are not additive because the relative weights for a given period differ from those of the reference year. In tables that display chained-dollar values, a "residual" line shows the difference between the sum of detailed chained-dollar series and its corresponding aggregate.

BEA releases three vintages of the current quarterly estimate for GDP. "Advance" estimates are released near the end of the first month following the end of the quarter and are based on source data that are incomplete or subject to further revision by the source agency. "Second" and "third" estimates are released near the end of the second and third months, respectively, and are based on more detailed and more comprehensive data as they become available.

The table below shows the average revisions to the quarterly percent changes in real GDP between different estimate vintages, without regard to sign.

-->

Vintage	Average Revision Without Regard to Sign (percentage points, annual rates)
Advance to second	0.5
Advance to third	0.6
Second to third	0.3
1.2
on the BEA Website.

Annual and comprehensive updates are released in late September. Annual updates generally cover at least the five most recent calendar years (and their associated quarters) and incorporate newly available major annual source data as well as some changes in methods and definitions to improve the accounts. Comprehensive (or benchmark) updates are carried out at about 5-year intervals and incorporate major periodic source data, as well as major conceptual improvements.

Unlike GDP, advance current quarterly estimates of GDI and corporate profits are not released because data on domestic profits and net interest of domestic industries are not available. For fourth quarter estimates, these data are not available until the third estimate.

GDP by industry and gross output estimates are released with the third estimate of GDP.

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US economic growth for last quarter is revised up to a solid 3% annual rate

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WASHINGTON (AP) — The U.S. economy grew last quarter at a healthy 3% annual pace, fueled by strong consumer spending and business investment, the government said Thursday in an upgrade of its initial assessment.

The Commerce Department had previously estimated that the nation’s gross domestic product — the total output of goods and services — expanded at a 2.8% rate from April through June.

The second-quarter growth marked a sharp acceleration from a sluggish 1.4% growth rate in the first three months of 2024.

Consumer spending, which accounts for about 70% of U.S. economic activity, rose at a 2.9% annual rate last quarter. That was up from 2.3% in the government’s initial estimate. Business investment expanded at a 7.5% rate, led by a 10.8% jump in investment in equipment.

Thursday’s report reflected an economy that remains resilient despite the pressure of continued high interest rates. The state of the economy is weighing heavily on voters ahead of the November presidential election. Many Americans remain exasperated by high prices even though inflation has plummeted since peaking at a four-decade high in mid-2022.

But measures of consumers’ spirits by the Conference Board and the University of Michigan have shown a recent uptick in confidence in the economy.

“The GDP revisions show the U.S. economy was in good shape in mid-2024,’’ said Bill Adams, chief economist at Comerica Bank. “Solid growth of consumer spending propelled the economy forward in the second quarter, and the increase of consumer confidence in July suggests it will propel growth in the second half of the year as well.’’

The latest GDP estimate for the April-June quarter included figures that showed that inflation continues to ease while remaining just above the Federal Reserve’s 2% target. The central bank’s favored inflation gauge — the personal consumption expenditures index, or PCE — rose at a 2.5% annual rate last quarter, down from 3.4% in the first quarter of the year. And excluding volatile food and energy prices, so-called core PCE inflation grew at a 2.7% pace, down from 3.2% from January through March.

Both the PCE inflation numbers issued Thursday marked a slight improvement on the government’s first estimate.

A GDP category that measures the economy’s underlying strength rose at a healthy 2.9% annual rate, up from 2.6% in the first quarter. This category includes consumer spending and private investment but excludes volatile items such as exports, inventories and government spending.

To fight spiking prices, the Fed raised its benchmark interest rate 11 times in 2022 and 2023, lifting it to a 23-year high and helping shrink annual inflation from a peak of 9.1% to 2.9% as of last month. The much higher borrowing costs for consumers and businesses that resulted had been widely expected to cause a recession. Yet the economy has kept growing and employers have kept hiring.

Now, with inflation hovering only slightly above the Fed’s 2% target level and likely slowing further, Chair Jerome Powell has essentially declared victory over inflation . As a result, the Fed is poised to start cutting its benchmark interest rate when it next meets in mid-September.

A sustained period of lower Fed rates would be intended to achieve a “soft landing,” whereby the central bank manages to curb inflation, maintain a healthy job market and avoid triggering a recession. Lower rates for auto loans, mortgages and other forms of consumer borrowing would likely follow.

The central bank has recently become more concerned about supporting the job market, which has been gradually weakening, than about continuing to fight inflation. The unemployment rate has risen for four straight months, to 4.3%, still low by historical standards. Job openings and the pace of hiring have also dropped, though they remain at relatively solid levels.

Thursday’s report was the Commerce Department’s second estimate of GDP growth in the April-June quarter. It will issue its final estimate late next month.

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Quicksplained: Who is Bharat Ramamurti, Kamala Harris’ Indian-origin economic advisor?

A graduate of Harvard College and Yale Law School, Indian-American Bharat Ramamurti is emerging as a key figure in shaping the economic agenda of Democrat president hopeful Kamala Harris. Previously, appointed as Deputy Director of the National Economic Council by President Joe Biden, Ramamurti is known for his liberal economic policies read more

As the 2024 US presidential election draws closer, Bharat Ramamurti has emerged as a key figure in shaping Vice President Kamala Harris’s campaign.   

With a strong background in liberal economic policies, Ramamurti is playing a crucial role in crafting Harris’s economic strategy. His work aims to help the Democrat nominee define her own economic vision, who is distancing herself from the political baggage associated with the Biden administration’s record on inflation and the economy.

So, who exactly is Bharat Ramamurti, and what are his plans for Harris’s economic agenda? Let’s take a closer look

1. A graduate of Harvard College and Yale Law School, Ramamurti gained experience as an intern after his graduation in the legal department and later worked as a litigator. According to Harvard magazine, his parents are from Tamil Nadu, India, and later settled in the United States. His father, Ravi Ramamurti, also earned a doctorate from Harvard and so did Ramamurti’s twin siblings, Gita and Arjun.

2. Ramamurti’s rise to prominence is deeply rooted in his extensive background in economic policy. He served as a senior counsel for banking and economic matters in the Senate from 2013 to 2019. Following this, he became a close aide to Senator Elizabeth Warren of Massachusetts, advising her on economic issues during her 2020 presidential campaign. His seven-year collaboration with Warren solidified his reputation as a key figure in progressive economic circles.

3. He also played a crucial role during the pandemic as a member of the COVID-19 Congressional Oversight Commission, appointed by Senate Minority Leader Chuck Schumer to track some of the $2 trillion of economic stimulus approved by former President Donald Trump amid the pandemic.

In an opinion column, Ramamurti wrote for The New York Times , that the commission’s job was to “track how beneficiaries are spending public money and assess whether the public is benefiting from the half-trillion dollars it has put at the Treasury’s and the Fed’s disposal.” “Our watching eyes can help ensure that the money broadly benefits American families. There isn’t time to waste,” he added.

Ramamurti remained with the commission until December 2020.   

4. Following this, President Joe Biden named Ramamurti as Deputy Director of the National Economic Council (NEC) for financial reform and consumer protection. He focused on sectors like manufacturing, innovation, and domestic competitiveness. He left the council in 2023.

5. Bharat Ramamurti has been a staunch advocate for progressive policies, championing clean energy, raising the minimum wage, taxing the wealthy, and extensive student debt cancellation. He argues that these initiatives are not only critical for America’s future but also politically advantageous. Despite facing criticism from Republicans that these policies might fuel inflation and increase the national debt, Ramamurti remains steadfast, viewing them as essential strategies to reclaim the White House.

6. Ramamurti recently made headlines when he faced off with CNBC over the Biden-Harris proposal to tax unrealised capital gains. The network said the plan was “unfair” and “against the law”.  The plan targets individuals with assets of $100 million or more who are not paying at least a 25 per cent tax on their annual income. Despite causing a heated debate and few eye rolls, Ramamurti maintained that Harris’ plan, along with the revenue generated from the unrealised gains tax, would create greater opportunities for Americans.

With input from agencies

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Advancing U.S.-Peru Economic Cooperation with President Boluarte

Office of the Spokesperson

August 28, 2024

Under Secretary for Economic Growth, Energy, and the Environment Jose W. Fernandez met with Peruvian President Dina Boluarte and her team of ministers on August 28, 2024, in Lima to promote trade and economic opportunities with the United States. He was accompanied by a delegation of U.S. businesses hosted by the Business Council for International Understanding (BCIU) and the U.S. Embassy to Peru.

The Under Secretary applauded Peru for supporting the Economic and Health Dialogue of the Americas (EHA) and ongoing efforts to advance key goals for the Americas Partnership for Economic Prosperity (“Americas Partnership”). He highlighted the benefits of advancing bilateral cooperation on opportunities at the intersection of clean energy and sustainable agriculture.

Under Secretary Fernandez underscored the United States’ interest in deepening economic ties with Peru and working together through the Americas Partnership to address food insecurity and broader issues hampering economic prosperity in the region such as supply chain issues, including critical minerals, medical, and semiconductor supply chains.

To stay up to date, follow Under Secretary Fernandez on X:   @State_E , LinkedIn:   @State-E , and Facebook:   @StateDeptE . For further media information, please contact  [email protected] .

U.S. Department of State

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