top phd in economics

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. 

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• Resources for Students
• Preparing for graduate school

Program rankings

The following organizations rank graduate economics programs using various approaches:

• US News and World Report 2023 Best Economics Schools
• US News and World Report Ranking of the Best Global Universities for Economics and Business
• RePEc Ranking of Institutions
• Tilburg University Top 100 Worldwide Economics Schools Research Rankings
• National Academies of Sciences, Engineering, and Medicine 2011 Ranking

Academic research evaluating economics programs

• Amir, Rabah and Malgorzata Knauff. 2008. " Ranking Economics Departments Worldwide on the Basis of PhD Placement ." Review of Economics and Statistics , 90 (1), pp. 185-90.
• Grijalva, Therese C. and Clifford Nowell. 2008. " A Guide to Graduate Study in Economics: Ranking Economics Departments by Fields of Expertise ." Southern Economic Journal , 74 (4), pp. 971-96.
• Kalaitzidakis, Pantelis, Theofanis P. Mamuneas, and Thanasis Stengos. 2011. " An Updated Ranking of Academic Journals in Economics ." The Canadian Journal of Economics , 44(4):1525-1538.
• McPherson, Michael A. 2012. " Ranking US Economics Programs by Faculty and Graduate Publications: An Update Using 1994-2009 Data ." Southern Economic Journal , 79 (1): 71-89.  

Graduate degrees in economics

Understanding the job market.

2024 Best Economics Doctor's Degree Schools

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Economics by Region

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Notes and References

Popular reports, compare your school options.

Doctoral Program

The Ph.D. program is a full time program leading to a Doctoral Degree in Economics.  Students specialize in various fields within Economics by enrolling in field courses and attending field specific lunches and seminars.  Students gain economic breadth by taking additional distribution courses outside of their selected fields of interest.

General requirements

Students  are required to complete 1 quarter of teaching experience. Teaching experience includes teaching assistantships within the Economics department or another department .

University's residency requirement

135 units of full-tuition residency are required for PhD students. After that, a student should have completed all course work and must request Terminal Graduate Registration (TGR) status.

Department degree requirements and student checklist

1. core course requirement.

Required: Core Microeconomics (202-203-204) Core Macroeconomics (210-211-212) Econometrics (270-271-272).  The Business School graduate microeconomics class series may be substituted for the Econ Micro Core.  Students wishing to waive out of any of the first year core, based on previous coverage of at least 90% of the material,  must submit a waiver request to the DGS at least two weeks prior to the start of the quarter.  A separate waiver request must be submitted for each course you are requesting to waive.  The waiver request must include a transcript and a syllabus from the prior course(s) taken.  

2.  Field Requirements

Required:  Two of the Following Fields Chosen as Major Fields (click on link for specific field requirements).  Field sequences must be passed with an overall grade average of B or better.  Individual courses require a letter grade of B- or better to pass unless otherwise noted.

Research fields and field requirements :

• Behavioral & Experimental
• Development Economics
• Econometric Methods with Causal Inference
• Econometrics
• Economic History
• Environmental, Resource and Energy Economics
• Industrial Organization
• International Trade & Finance
• Labor Economics
• Market Design
• Microeconomic Theory
• Macroeconomics
• Political Economy
• Public Economics

3.  Distribution

Required:  Four other graduate-level courses must be completed. One of these must be from the area of economic history (unless that field has already been selected above). These courses must be distributed in such a way that at least two fields not selected above are represented.  Distribution courses must be passed with a grade of B or better.

4.  Field Seminars/Workshops

Required:  Three quarters of two different field seminars or six quarters of the same field seminar from the list below.   

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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 3005 graduate workshop in economic development, location: .

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

Econ 3006 Graduate Student Workshop in Macroeconomics

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

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

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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, trading stocks builds financial confidence and compresses the gender gap, drivers of public procurement prices: evidence from pharmaceutical markets, redistributive allocation mechanisms, recent insights by stanford business, 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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20 Best Doctor of Economics Graduate Schools

Reviewed by David Krug David Krug is a seasoned expert with 20 years in educational technology (EdTech). His career spans the pivotal years of technology integration in education, where he has played a key role in advancing student-centric learning solutions. David's expertise lies in marrying technological innovation with pedagogical effectiveness, making him a valuable asset in transforming educational experiences. As an advisor for enrollment startups, David provides strategic guidance, helping these companies navigate the complexities of the education sector. His insights are crucial in developing impactful and sustainable enrollment strategies.

Updated: June 13, 2024 , Reading time: 37 minutes

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In this article, we will be covering...

Data Points:

• A PhD in Economics takes five to six years * to earn. Students spend two years completing their coursework, and conduct research and dissertation in the remaining years.
• The federal government (27%) is the largest employer ** of economists. About 20% of them are hired by management, scientific, and technical consulting services. Scientific research and development services employ 11% of economists. Some 17% of them also work in state and local governments.
• In 2022, there were 33,345 economists *** in the US. Of these, 34.8% are women and 65.2% are men.

The Doctor of Economics (Doctor of Economics, Ph.D.) is an advanced, terminal degree representing the highest level of academic achievement in economics. It can open doors to research, teaching, and consulting opportunities in the field of economics and beyond.

A doctorate program in Economics usually takes about 5 to 6 years to complete. The first two or three years are spent fulfilling coursework requirements. The first year of study is usually dedicated to completing the trifecta of economics basics: macroeconomics, microeconomics and econometrics. 

The second doctorate year is dedicated to completing the coursework requirements of the chosen field major(s) and or the electives. The chosen majors are usually indicators of the student’s research direction or field of interest.

If the electives are separate from the majors in the curriculum – and these usually are – they serve the purpose of augmenting the student’s learning and background in preparation for further research and the dissertation requirement. 

Quick audio summary:

The third year of study usually finds students either completing the electives and major courses or writing and defending a third-year paper, which helps students prepare for the dissertation proposal.

The dissertation proposal presentation usually takes place in the fourth year, while the fifth and sixth years (and sometimes, the seventh year) are spent executing the approved research plan and writing the final paper to the dissertation committee.

When the dissertation has been accepted, the title of Doctorate in Economics is conferred. 

Exams are also important milestones within the program. Usually, one or two preliminary exams are administered between the second and third years.

These preliminary exams test a student’s comprehension of macroeconomics and the courses taken as part of the field majors and elective requirements. The oral exam, usually administered between the third and fourth years, represents the dissertation proposal defense. 

METHODOLOGY

• For each school, the research areas or fields with the greatest faculty involvement are mentioned as a guide for students to help them decide on their research direction and prospective thesis adviser. Certain schools are known to specialize in some areas, or some areas will have a high faculty research involvement and, thus, denotes a strong research area for that school’s economics department. 
• Published works in peer-reviewed journals, 
• The number of research areas available in a school’s economics department, also the number of inter-disciplinary research areas available, signifies that the department embraces the integration and application of economics with other relevant disciplines, thus providing a more holistic, interconnected, timely and modern understanding of economics as it relates with relevant disciplines like finance, politics, policy, sociology, sustainability, health, business, information systems, entertainment (games, auctions) and even neuroscience (as it relates to the physiology of decision-making),
• Side note: this is why Caltech tops this list, while it is not a prominent name  in traditional and semi-contemporary economics research, it does groundbreaking work in integrating economics with the abovementioned fields, especially with neuroscience, which should open the doors for more collaborative studies in these particular fields
• The number of research centers or institutes a school’s economics department has or with which it is affiliated, 
• The number of fellows or researchers or associates in professional societies and national agencies like the National Academy of Sciences, or the National Bureau of Economics Research, the American Economic Association and other societies; the number of Nobel laureates for Economics are also factored in the ranking,
• R&D expenditures , whether privately or federally financed, also denotes research activity and thus, research contribution,
• The school’s prominence in various academic ranking reports is also a factor (averaged) in the rankings. 
• Since many schools are tied based on the methodology itemized above, many schools are clustered together and share the same ranking (numbers 2, 3, and 5). For those that are clustered in one ranking, they are listed alphabetically. 

THE 20 BEST DOCTOR OF ECONOMICS GRADUATE SCHOOLS

California institute of technology (caltech) division of the humanities and social sciences.

Pasadena CA

Ph.D. in  Social Sciences (focus on Economics)

Caltech’s Division of Humanities and Social Sciences (HSS) is home to the field of experimental economics, thanks to its alumnus Vernon Smith of class 1949, who pioneered the use of human test subjects to investigate the interaction between markets and economic and financial institutions. In 2002, he was awarded the Nobel Prize in Economics for this groundbreaking research method today. 

• Caltech offers a Ph.D. program in Social Sciences that takes a modern and collaborative approach to economics by enveloping it in an all-encompassing program covering economics, political economy, history, political science, psychology, law, policy and even anthropology. 
• The program also employs an innovative approach to economic research through laboratory experiments and neuro-imaging technology.
• Applicants and incoming Ph.D. students should demonstrate a solid background in calculus (four semesters), linear algebra, mathematical statistics and real analysis. 
• Applied Microeconomics
• Business, Economics and Management
• Economics and Computer Science
• Economic History
• Economic Theory
• Political Economy
• Social and Decision Neuroscience
• Statistical Methodology
• Faculty involvement in these research areas is highest with the first two fields mentioned.

Standout Features of the Program:

The faculty in charge of the Ph.D. SS program is comprised of nearly 40 professors and researchers hailing from various disciplines –  from economics, finance, social science, computational sciences (math and statistics), political science to neuroscience. The majority of the faculty are specialists in economics, with about a fifth of the faculty being specialists in neuroscience. 

The basic operator of economics is decision-making, and Caltech’s HSS Division recognizes that. In line with its tradition of innovation and breaking ground, HSS offers an alternative to the Social Science Ph.D. program, the Ph.D. program in Social and Decision Neuroscience. Students under this program will learn how to devise neurocomputational models and integrate mathematics, statistics, neuroscience, and information science to get to the bottom of human decision-making abilities – the triggers, the stimulants, and the nuances.

Harvard University Department of Economics

Cambridge, MA

Ph.D. in Economics

Since its establishment in 1897, Harvard’s Department of Economics has been consistently regarded as one of, if not the most selective Economics Ph.D. program in the U.S. today.

It offers courses and programs at every level, taught by nearly 60 faculty members who are renowned industry economists and or researchers. 

• Applicants must possess an above-undergraduate level of understanding of economics. They are also required to have research experience, whether at the helm or as a research assistant.
• Mathematics courses are also required, with the minimum being linear algebra and calculus, but the more mathematics courses are taken at the undergraduate and master’s levels, the better. A background in probability, statistics and computer programming may also be advantageous. 
• Additionally, a major requirement for admission is a 15-page writing sample.
• Second-year students are expected to elect two concentrations or emphases and enroll in courses related to these. 
• Third-year students are required to apply for teaching fellowships.

The department faculty does research in a wide array of fields in economics, such as labor economics, public economics, macroeconomics, and behavioral economics, among others.  These are also the four research areas with the highest activity based on faculty involvement.

The department is involved in four research initiatives that study how human behavior , big data , public policy , and microeconomics impact the discipline of economics as a whole and vice-versa. The department’s esteemed academe leads these initiatives, with one of the four centers, the German Administrative Data Project , representing an investigative collaboration between Harvard Economics and the German Federal Employment Agency. 

Princeton University  Economics Department

Princeton, NJ

Princeton Economics has always been at the forefront of economic research and innovation. Two of its faculty members are Nobel laureates, and the department consistently publishes research in various esteemed publications such as the Journal of Economic Dynamics and Control and the American Economic Review , to name a few. 

• The graduate program in Economics is one of the most highly selective, as it only accepts a maximum of 25 students per year. 
• Students are expected to receive financial support throughout their freshman year through fellowships. The fellowship funding may also be extended during the summer term to help fund their research activities. 
• The program is a straightforward doctorate program with no option for a master’s degree. 
• Students can choose from any of the 28 research areas , which, aside from the traditional research areas, also include contemporary subfields like health economics, environmental and energy economics, political economy of China, structural microeconomics and, urban and spatial economics.

Princeton Economics consists of 80 faculty members actively researching various economic fields, as mentioned above. Many of the department’s research concentrates on financial economics, political economy, economic theory, and labor economics. 

Princeton Economics is affiliated with 16 research centers that touch on the various facets of economics, such as macroeconomics, international economics , and public policy. Under public policy alone, there are three research centers: Princeton Program in Public Finance , Julis-Rabinowitz Center for Public Policy & Finance , and the Griswold Center for Economic Policy Studies . 

University of California Berkeley Department of Economics

Berkeley, CA

Berkeley Economics is a pioneering force in diversity and equality. Soon after its establishment in 1903, the department was home to Berkeley’s first female full-time professor, Dr. Jessica Peixotto. Female faculty members would then flock to Berkeley Economics in waves – first, before WWI, and second in the early ’70s.

• The Ph.D. program in Economics usually takes six years to complete, with the first three devoted to coursework and electing preferred research fields in preparation for doctoral candidacy, while the last three years are devoted to completing the dissertation.
• First-year students are required to take courses in the following areas: macroeconomics, microeconomics, mathematics for economics, econometrics, theory, history and research in economics.
• Second-year students are expected to undergo examinations for their chosen fields. They can choose two from the 23 areas offered by the department, which also include alternative fields like Urban and Regional Economics, Health Economics, City and Regional Planning, Education and Economics, and Resource Economics.
• Third-year students are expected to complete the required semester-long Departmental Seminars (any available seminar for the current term). Only then will they be allowed to undergo the doctoral qualifying exams, mostly composed of the dissertation proposal.

Standout Features of  the Program:

Students can engage in any of the 18 research fields available within the department, including traditional fields like theory and econometrics, alongside contemporary fields like monetary theory and behavioral economics.

Research fields with the highest faculty involvement, ergo, research activity, are the fields of finance, international economics, labor economics, macroeconomics, and public economics. 

Berkeley Economics is affiliated with 14 research centers , which include the Opportunity Lab for policy research, the Econometrics Laboratory (EML) , and the Center for Effective Global Action , to name a few, which provides researchers an avenue for the practical application of economic research. 

University of Michigan Department of Economics

Ann Arbor, MI

Michigan’s Department of Economics comprises nearly 70 professor-researchers involved in the various fields of economics. The department does research in 14 areas , including traditional areas like labor economics and industrial organization (which are the fields with the greatest faculty involvement) and contemporary areas like health economics and environmental and resource economics.

• The Ph.D. program in Economics, while taught and offered by the Department of Economics, is administered by UM’s Rackham Graduate School. All applications will be screened centrally, which, for AY 2020, will not include or require GRE results. 
• The program also offers the option of double doctorates through its joint program offerings . Econ Ph.D. students can also choose to pursue a second Ph.D. in Business, Public Policy, or a field of their choosing through the Individually Interdependent Degree Program (IIDP) , also known as the Student Initiated Degree Program (SIDP).
• While first-year students are required to complete the traditional introductory courses (macro, micro, econometrics and math), second and third-year students are expected to complete courses in the various fields of economics, from advanced methods to monetary economics, labor economics, industrial organization, international economics, to public finance, among others. 

The Michigan Institute for Teaching and Research Education (MITRE) is a research hub out of UM Economics that houses faculty and student investigative work in various economic fields. It is also a teaching initiative that provides aspiring Econ instructors with valuable training and project collaborations.  It also provides funding for research, such as the William Haber Fellowship . 

UM, Economics has an impressive track record in job placement year after year. For AY 2019-2020, many of its graduates are now tenure-track faculty members in renowned universities such as Harvard, Stockholm University, and Tsinghua University, while some secured roles in public financial institutions like the Treasury Department, the Congressional Budget Office, the World Bank, and the International Monetary Fund, to name a few. 

University of Pennsylvania School of Arts and Sciences

Philadelphia, PA

Penn Economics is hailed as among the country and the world’s top schools for economics. Its prominence is mostly attributed to the three major economic research centers it houses or is affiliated with: the Penn Institute for Economic Research (PIER) , the Philadelphia Federal Statistical Research Data Center (PFSRDC) , and the Penn Initiative for the Study of Markets (PISM) .

Additionally, it is also the home of one of the world’s esteemed publications in economics, the International Economic Review (IER). 

• The Doctorate in Economics program is a straightforward graduate program with no option for a master’s degree. Also, only full-time enrollments are accepted into the program.
• First-year students must complete courses and the corresponding preliminary exams in econometrics, macroeconomics and microeconomics. 
• Second-year students are required to complete the Empirical Economics requirement , a set of courses that circle the application of economic theories and instruments on various actual economic institutions. 
• Third-year students are expected to complete workshop courses, while fourth-year students must complete their dissertation proposals before the spring term concludes. 

While the Penn Economics faculty does research mainly in four areas of economics – econometrics, macroeconomics, empirical microeconomics, and microeconomic theory, what makes the department and, by extension, the program, stand out is the faculty’s extensive involvement in published work, whether through books , papers , and publications in peer-reviewed journals . 

The International Economic Review (IER) is a product of Penn Economics and Osaka University published every quarter since 1960. It is a highly regarded, world-leading peer-reviewed journal in economics. 

Massachusetts Institute of Technology Department of Economics

Ph.D. in  Economics

MIT Economics has been at the forefront of civil service and research since the late 1800s, with the involvement of then Brigadier General and MIT President Francis Amasa Walker in the U.S. Census.

Amasa also established the American Economic Association and became its first president. Right around WWII, the department would then offer master’s and doctorate degrees in economics. 

• The Ph.D. in Economics program exposes students to rigorous research work as early as the first year of study. 
• First and second-year students are required to complete the following core courses: Micro Theory, Macro Theory, Econometrics, and Statistical Method in Economics & Applied Econometrics, as well as a course on Advanced Research and Communication. 
• Second-year students submit a research paper to fulfill the requirements for the Econometrics course.
• Students are also required to elect four concentrations or special fields – two majors and two minors – from which they need to complete the prescribed coursework. 

Students can select from any of the ten concentrations for their major and minor declarations. The fields also denote the research areas under which the department faculty are involved, with the areas of theory, macroeconomics, and international economics with the highest research activity. 

MIT Economics is home to five research centers .  Among these include the MIT-Central Banks collaboration World Economy Laboratory and the Center for Energy and Environmental Policy Research , which is the brainchild of three MIT schools and centers – Economics, the Energy Initiative, and the Sloan School. 

Yale University Department of Economics

New Haven CT

Yale University’s Department of Economics is composed of more than 50 faculty members who are experts in 14 areas of economics.  Among the department’s strongest and most active areas in terms of research are Industrial Organization, Microeconomics, Macroeconomics, and Public Economics.

• The Ph.D. in Economics program must be completed within six years of registration. Students must reside in New Haven for a minimum of three years during enrollment.
• Students must complete a minimum of six graduate courses in economics to be admitted into the second year of graduate studies. 
• All Yale graduate students are required to meet the “Two Honors” requirement. For Econ doctorate students, this means completing two economics graduate courses with a minimum grade of H-, which should be completed by the end of the second year. 
• The student’s third year should also complete the qualifying exam for doctoral candidacy. Students are given two attempts to take their first attempt as early as their second year.

Students can choose to do research in any of the department’s 13 research areas , including foundational fields in economics such as macroeconomics, microeconomics, econometrics,  economic history, and financial economics.

With a faculty comprised of 50 professors (both tenured and non-tenured) and an average Ph.D. enrollee count of 125, Yale Economics provides an optimum faculty/student ratio of one professor to two or three students. This optimum ratio is considered one of the best among all the economic schools in the U.S.

Brown University Department of Economics

Providence RI

Brown University’s Department of Economics is home to the Orlando Bravo Center for Economic Research , which is the university’s research hub for all things economics.

Brown Economics is also home to the editors of many of the discipline’s respected peer-reviewed journals like the American Economic Journal and the Journal of Economic Growth . 

• Brown University’s doctorate in Economics boasts strong research and training in economic analysis and theory.
• First-year students must complete the following courses: Econometrics, Macroeconomics, Microeconomics, Mathematics, and Applied Economics Analysis.
• Students are also required to attend seminars or colloquia , and they can choose from topics like macroeconomics, applied microeconomics, econometrics and economic theory. 
• Students can choose to research any of the five research areas the faculty are involved in. Finance, macroeconomics, applied microeconomics, econometrics, and experimental and economic theory. 

The Department of Economics is helmed by 30 esteemed faculty members , societal fellows, research grant recipients, and editors of academic literature (book and journals). Students will have no shortage in the choice of a thesis adviser. As for funding, students can consider applying for in-house funding through the Bravo Center Research Grant .

Students looking to do integrative research in population, policy development, and economics can engage with the university’s Population Studies and Training Center . Aside from demographics and social mobility, the center also tackles community-level issues like reproductive health and other national and global issues like health economics, urban economics, environmental economics, and diversity and inequality. 

New York University Department of Economics

New York, NY

NYU Economics is a research powerhouse that not only boasts of Nobel laureates in Economics and National Academy of Science fellows.

It is also home to various research institutes such as the Development  Research Institute (DRI) and the Center for R e search in Applied and Theoretical Economics (CRATE) , which aim to deepen and expand the tenets of economics, and the Institute for the Study of Decision Making (ISDM, or the Center for Neuroeconomics), which is an interdisciplinary research institute combining economics, neuroscience, psychology, medicine, and information systems. 

• NYU Economics only accepts full-time enrollment for its Ph.D. program. Enrolled students must complete a minimum of 72 credits, with at least 64 credits earned while in campus residence.
• Minimum coursework requirements for first-year students include all two levels of Econometrics, Macroeconomics and Microeconomics, a course on Mathematics for Economists, and two advanced courses or seminars. 
• Second-year students must elect two concentrations for the field requirement and complete the appropriate coursework under these. There are two qualifying exams with topics on microeconomics and macroeconomics before the third year of study.
• Third-year students must submit research papers in preparation for the dissertation proposal oral exam or the doctoral candidacy exam. 

Students can choose to research 13 areas of economics , which includes strong research activities in macroeconomics and microeconomics. Other budding research areas include asset pricing, corporate finance, monetary economics, and experimental and behavioral economics. 

NYU Economics is home to the C.V. Starr Center for Applied Economics , the department’s research hub tackling the most concerning and highly impactive socioeconomic issues today, both on national and global levels. The Department is also involved in collaborative research through NYU’s Center for Experimental Social Science (CESS), which, aside from Economics, enjoins the bright minds from the departments of Psychology, Neuroscience, Political Science, and Social Science. 

Northwestern University Department of Economics

Evanston, IL

The Northwestern Economics Department comprises 60 faculty members close to other Northwestern schools like the Kellogg School of Management (KSM). These professors are involved in eight research areas, but the department is acclaimed for its strong macroeconomics research, which laid the ground for the Dynamic Stochastic General Equilibrium (DSGE) models for fiscal policy and labor analysis.

• Northwestern offers a straightforward Ph.D. degree in Economics. However, a terminal master’s degree is not offered as a program but can be conferred to Ph.D. students who have completed their first year of studies. 
• The program is highly selective, with only an average of 25 students admitted yearly. The result is an average of 120 Ph.D. students in residence every year. 
• First-year students must complete the following core courses: all three levels of Microeconomics, Macroeconomics, Econometrics, and Mathematical Methods for Economic Theory. 
• Students who need additional training in advanced mathematics for economics may request permission from the department to take additional math courses such as Real Analysis. 

Students can choose to research any of the nine areas of economics available in the department. Many of these fields involve collaborative research with the Kellogg School of Management. These fields include Macroeconomics, Health Economics, Development Economics, Financial Economics, and Labor and Public Economics.

The Economics Department and KSM have also collaborated to offer the joint Ph.D. in Financial Economics program. Students under this program are expected to integrate their robust training in economics with finance courses like Asset Pricing and  Corporate Finance.

Students can take advantage of the eight economic research centers housed by the Economics Department. It has research institutes in traditional economic areas like econometrics , theory , history , and macroeconomics and contemporary economic areas like poverty research and data science for economics .

Stanford University Department of Economics

Stanford, CA

Stanford Economics has always been regarded as a research powerhouse since its establishment in the ’60s, particularly in Economic Theory.

But as years went by, the department’s research footprint has expanded to now include more than 20 areas, with the fields of Applied Microeconomics, Financial Economics, Labor Economics, and Macroeconomics as some of its strongest and most active research areas based on faculty involvement. 

• First-year Ph.D. students must complete the core courses comprising microeconomics, macroeconomics, and econometrics.
• They must also elect two areas as their majors. Each area will have its own set of requirements . Students can choose from any of the 14 research areas available, including Behavioral and Experimental Economics, Environmental, Resource and Energy Economics, Market Design, and International Trade and Finance, among others. 
• Students must also take four courses from the two other areas not selected as major fields. One of the courses must stem from the field of Economic History.              
• A one-quarter-long teaching experience is required. Students are also required to render a 135-unit residency.  They are also required to attend workshops or field seminars in the field(s). 

Students can choose to research any of the 21 fields of interest available in the department. The list includes Applied Microeconomics, Decision Theory, Economics of Technology, and Game Theory. 

The Stanford Institute for Theoretical Economics (SITE) is a yearly conference held every summer that brings together all of Stanford Economics – faculty, students, researchers – and other experts and collaborators in the field. The conference features workshops and seminars that encourage discussions, project collaborations within economics, related disciplines, academic and professional networking, and further research. SITE enjoys generous funding from the NSF and other Stanford departments. 

Columbia University Department of Economics

Columbia Economics is home to many Nobel laureates, including Milton Friedman, best known for his monetary theory and stabilization policy studies, and William Vickrey. He pioneered the Game Theory in understanding how sealed-bid auctions work ( Vickrey auctions) .

• The Ph.D. program in  Economics requires the completion of courses in econometrics, microeconomics, macroeconomics, mathematical methods, and perspectives in economic theory during the first year of study.
• Research begins during the second year, with students presenting their research papers in a colloquium. They must also elect two concentrations and complete the appropriate coursework. 
• The dissertation proposal should be presented during the fourth year of study. To help them prepare, students must submit another research paper the year prior (year 3).
• Students can choose to do research in any of the traditional fields of economics, such as macroeconomics and microeconomics, or choose a more contemporary field such as urban economics, public finance, labor economics, or industrial organization. 

While Columbia Economics offers several areas of interest under which students can do research, three of the program’s strongest research areas are in the field of empirical economics, applied economics, and theoretical economics. 

The Department of Economics partakes in the university’s Bridge to Ph.D. program , which accepts applicants annually. This is a good stepping stone – both academically and financially –  for post-baccalaureates who are aspiring to apply to grad school. Successful applicants will land roles as full-time RAs with an annual salary of $51K (based on AY 2020-2021).

They are expected to enroll in a few economics electives like mathematics, real analysis, statistics, or introductory economics (macro, micro, econometrics) while rendering RA work in preparation for their application and subsequent admission to graduate school. 

University of California Los Angeles Department of Economics

Los Angeles, CA

UCLA Economics has produced acclaimed graduates trained by equally acclaimed faculty and researchers. It is also home to important macroeconomics , economic history , industrial organization , and population research.

• Before starting the doctoral program, students must participate in the two-week Math Camp, which equips them with mathematical foundations for economics (Econ 200) and navigating the statistical software MatLab. 
• Otherwise, incoming Ph.D. students confident in their advanced math skills may opt to tackle the online modules via the Essential Microeconomics website in preparation for doctoral work. To help students complete the modules, students can go through the Calculus of Economics  modules as needed.
• Second-year students must elect three of the ten field concentrations offered by the department. They can also take related non-Econ courses (not offered by the Department) such as finance, marketing, political science, public policy, mathematics, statistics and electrical engineering. 

Students looking at teaching assistantships as a source for funding can browse the UCLA Economics Teaching Resources page for tutorials on using LMS tools, a class archive for course syllabi, or resources on teaching techniques.

UCLA  Economics is home to esteemed alumni, researchers, and Nobel laureates in Economics, which includes Dr. William Sharpe, an alumnus of the department’s graduate school who pioneered the Capital Asset Pricing Model and several investment performance analytical tools, such as the Sharpe Ratio, the returns-based style analysis, the binomial method, and the gradient method for asset appropriation. 

University of California San Diego Department of Economics

La Jolla, CA

UCSD Economics prides itself with its strong training and research in the fields of microeconomic theory, econometrics, applied microeconomics, and macroeconomics, as well as its formidable and productive collaborations with UCSD’s Public Policy , Management , and Political Science schools. 

• The maintenance of full-time status, equating to 12 units, to be continually eligible for funding,
• Two-year in-campus residency,
• The maintenance of a 3.0 GPA.
• Students must complete the course on Computation (Econ 280) and the empirical project , which is required by the Econometrics course.
• They also need to take seven electives, which must be completed before the end of Year 3. There are close to 30 elective courses from which students may choose. 
• Students must choose two concentrations and complete the prescribed number of required courses. There are 12 field concentrations from which students can choose, including the traditional fields and contemporary ones like Behavioral/Experimental economics and Environmental & Natural Resource Economics.

Students can choose to research any of the 14 research areas being tackled by the department. Some of the highly active research fields are Development Economics, Econometrics, Finance, Labor Economics, Macroeconomics, Microeconomic Theory, Political Economics, and Public Economics.

The department houses the Center for Environmental Economics and the San Diego Education Research Alliance (SanDERA) . Both research centers integrate economics with other relevant disciplines to help influence policy reforms, opportunities, and initiatives.

The University of Chicago The Kenneth C. Griffin Department of Economics

Chicago, Illinois

Chicago’s Department of Economics, which was renamed The Kenneth C. Griffin Department of Economics in 2017 after the generous donation of the eponymous foundation, is the birthplace of many tenets and facets of economics, such as behavioral economics, political economy, and financial economy. It is also the birthplace of The Journal of Political Economy. 

• Chicago Economics usually offers admission to about 55 applicants, with only about half enrolling into the program, thus, ensuring an optimal professor-to-student ratio.
• The department only offers a Ph.D. graduate program in Economics. A terminal MA degree is not offered. 
• Students can choose to do research in Applied Microeconomics, Econometrics, Macroeconomics and Economic Theory. Research in Applied Microeconomics has the highest faculty involvement. 
• Students can opt to pursue a joint Ph.D. degree in Financial Economics , as offered by the Booth School of Business, along with the Economics Department. Applicants can lodge their applications through the Economics Department or the Booth School.

Chicago Economics is affiliated with several research centers , including the Center for the Economics of Human Development (CEHD) , the Energy Policy Institute , and the Becker Friedman Institute for Research Economics . The Becker Friedman Institute is a joint effort of the Economics Department, Chicago Law School, Booth School of Business, and Harris School of Public Policy. 

The Economics Department is home to the Griffin Applied Economics Incubator , a research and policy hub where economic studies and statistics drive change through policy formulation and or reform. Every year, the incubator tackles a global or national socioeconomic issue that allows academics to collaborate across disciplines. 

University of Minnesota Department of Economics

Minneapolis, MN

UMN’s Department of Economics boasts having Nobel laureates among its Ph.D. alumni. From the class of ’64, Daniel McFadden, who authored the paper on the Development of the Theory and Methods for Analyzing Discrete Choice , was awarded the Nobel in 2000. From the class of ’78, Lars Peter Hansen, who pioneered the Generalized Method of Moments, was awarded the Nobel in 2013. 

• Incoming Ph.D. students must be equipped with a strong background in computational courses, such as linear algebra, multivariate calculus, and econometrics. 
• Students are also required to complete all four levels of Microeconomics and Macroeconomics courses.
• Eight credits of electives are required. Students can choose from this catalog , which includes courses in computer science, finance, mathematics, psychology and statistics. 
• The dissertation is worth 24 credit units. Students can choose to research the 13 areas of interest available within the department. These include traditional macroeconomic and microeconomic theory fields and contemporary applied fields like game theory, monetary economics, and mathematical economics.

UMN Economics is home to the Heller-Hurwicz Economics Institute , which specializes in economic theory research, the Minnesota Economics Big Data Institute (MEBDI) , which specializes in the use of data science in applied economic research; and the Economics Research Library (ERL) , which is a repository for all published sources on economics, both in-house and from external sources like federal agencies. 

Two of UMN Economics’ younger graduates have also brought pride to the department and the university. Connan Snider and Thomas Youle of classes 2010 and 2014, respectively, uncovered initial and damning evidence of collusion among bankers as early as 2008, resulting in the LIBOR (London Interbank Offered Rate) Rigging Scandal , considered by many economists as the biggest global financial scandal in the world. 

Cornell University Department of Economics

Ithaca, New York

Cornell Economics is a collaboration between the department itself and other Cornell schools such as the Johnson School of Management , Cornell Law , the Department of Policy Analysis and Management , Cornell Hotel School , the Dyson School of Applied Economics & Management , and the Division of Nutritional Sciences .

The result is an Economics Department that boasts of strong research in the tenets of economics and the contemporary and integrative applications of economics in other fields, such as finance, law, policy, business, hospitality, and health economics. 

• Incoming Ph.D. students must demonstrate a solid background in calculus, linear algebra, real analysis and advanced mathematics. A minimum of four semesters is the bare minimum. To stand a greater chance for funding, students are strongly advised to cultivate a more extensive mathematics background with exposure to differential equations, probability, statistics, topology, stochastic equations, and complex analysis. 
• In the case of inadequate mathematics courses exposure, students can enroll in the three-week mathematics review course before the fall term.
• As for undergraduate economics background, the bare minimum is microeconomics and intermediate-level economic theory. A major in economics for post-baccalaureates is not required in the doctorate program.

Cornell Economics faculty comprises nearly 60 professors and researchers involved in 40 different areas of interest in economics. The extensive list of fields of study includes traditional areas of economics, as well as highly specific and contemporary fields such as Insurance, Contract Theory, Gender Economics, Family Economics, Inequality, Race and Discrimination Economics, Decision Theory, Big Data, Compensation, Law Economics, Economics of Crime, Networks, and Information Economics. 

Cornell Economics is home to the renowned S.C. Tsiang Macroeconomics Workshop , named after the department’s eponymous alumnus and eventual professor emeritus, known for his contributions to macroeconomic theory and monetary economics. 

University of California Davis Department of Economics

Nearly 20 of UC Davis Economics faculty (which is about half of the faculty) hold research associateship and research fellowship roles at the National Bureau of Economic Research (NBER) , which is the national authority on economic research and policy advisement.

• First-year Ph.D. students must complete the courses on econometrics, macroeconomics and microeconomics.
• Advanced economic theory
• Public economics
• Advanced macroeconomics
• Economic development
• Economic history
• Econometrics
• International economics
• Industrial organization
• Labor economics
• The UC Davis Economics faculty comprises nearly 40 professors and researchers who specialize in 16 areas of economics, with the fields of International Economics and Macroeconomics as some of the faculty’s strongest research fields.
• The department is affiliated with various research centers that deal with economic history , international economics , socioeconomic issues , and energy economics . 

Students who choose to research in Regional and Urban Economics may engage with the Center for Poverty Research for insight, sources, and research funding.

The Department of Health & Human Services funds this federal institute that focuses on the issues of the marginalized sector and helps create policies and opportunities towards upward social mobility. Students may also reach out to Professor Giovanni Peri for consultation and advisement in this area. 

The department hosts seminars for nine areas of interest in economics regularly. These are seminars on macroeconomics, international economics, behavioral economics and many other fields. 

University of Wisconsin Madison Department of Economics

Madison, WI

The following major requirements define UW’s doctorate program in economics: completing the preliminary exams on Microeconomic and Macroeconomic Theory, a research paper on the chosen major field by Year 3, three signatures on the dissertation proposal signifying committee acceptance, and the acceptance of the dissertation defense. 

• First-year students must take the following courses during the fall term: microeconomics, macroeconomics, economic statistics and econometrics, and mathematical economics.
• The second level of all previous courses must be taken (except for mathematical economics). Students can take an elective course to complete the four-course term during this term. This could be a course on statistics, economics, or mathematics. 
• Second-year students are required to elect major and minor fields.  Aside from mathematics and statistics, students may also elect a minor field from another department for the minor fields. 
• Aside from the two-course requirement for the major fields, students must also attend the appropriate workshop for that field. These workshops are funded by the Juli Plant Grainger Institute (JPGI) for Economic Research.

The Juli Plant Grainger Institute (JPGI) for Economic Research is the department’s hub for economic researches, both student and faculty work. It also provides funding and hosts conferences and seminars or workshops specific to the seven areas of study in economics currently being tackled by the department. 

The department faculty comprises nearly 60 professors and researchers, most of whom are involved in macroeconomics, labor economics, and public economics and finance.

FREQUENTLY ASKED QUESTIONS

What advantages does a doctor of economics have over the others.

In 2023, the BLS reported that the median pay of an economist with a master’s degree is more than $115K a year, with a projected job growth of 6% over the next ten years, which is considered above average by agency standards. 

What more if the economist has a doctoral degree? Expect that median pay to increase, at the very least, by half or at best, maybe even by a hundred percent.

Professionals with a doctorate in economics can command that high salary because they demand across industries. From the academe to business enterprises, to research organizations (non-profit or government-funded), legislation and policy, to politics , data science , and information systems , financial markets and instruments, or consultative services, economists, and especially those with a Ph.D., can always carve a significant career in any industry and be probably set for life (holds for tenured professors). 

Who can apply to the program?

All baccalaureate graduates (those with a bachelor’s degree) in any degree can apply to doctorate in economics (or similarly named) programs. While all graduates can freely lodge their applications, not everyone passes, as most econ doctoral programs are highly selective, with only an average acceptance rate of 25 students per year. 

Those with a formidable background in undergraduate or graduate (master’s degree) in economics, mathematics, statistics, finance or any degree with a significant foundation in advanced mathematics stand a greater chance of being accepted.

If the applicant comes from a different degree background, say, the health sciences or political science, the applicant may still strongly qualify for admission provided that a strong mathematics background is demonstrated. Courses like linear algebra, real analysis, multivariate and differential calculus, and statistics are minimum pre-Ph.D. requirements.

Are GRE scores required? What are the other admission requirements?

Not for AY 2022, but best to check with the school’s admission office to be certain. The other admission requirements are the completed application form, a resume, letters of recommendation preferably from previous and current employers, a personal essay, all transcript of records, and proof of payment of the application fee.

Again, check with the school’s economics department or admissions office for other requirements that may be specific to the program. 

How will earning a Doctorate in the field of Economics advance my career?

A Doctorate in Economics can open up a wide range of career opportunities in the fields of academia, business, government, research, and consulting.

With a Ph.D. in Economics, you could apply for positions such as economic analyst, professor, policy specialist, economic consultant, market researcher , and finance manager . You may also be able to qualify for more senior-level positions that would require your advanced and specialized knowledge.

As a doctoral-level economist, your skills would be highly sought-after, making you a valuable asset to any organization. With a Doctorate in Economics, you would have the opportunity to make an even greater and more lasting impact in the world of economics.

KEY TAKEAWAYS

Obtaining a Doctor of Economics degree can open up a wide range of career opportunities in the field of economics, from academia to government and private sector positions.

To ensure a successful and fulfilling academic journey, it is essential to choose the best graduate school for your doctoral studies. There are several key factors to consider when selecting a Doctor of Economics graduate school, including reputation, faculty, curriculum, and research opportunities.

• First, the reputation of the graduate school is crucial.
• Second, the faculty at the graduate school should be top-notch.
• The curriculum of the graduate school’s economics program is another critical factor.
• Research opportunities are also essential to consider, as they can greatly enhance your academic experience.
• Additionally, consider the opportunities for collaboration and mentorship with faculty and other students.
• It is crucial to consider the overall fit and environment of the graduate school.

In conclusion, obtaining a Doctor of Economics degree from a top graduate school requires careful consideration of factors such as reputation, faculty, curriculum, research opportunities, and overall fit. By thoroughly researching and comparing different institutions, you can find the best graduate school to support your academic and career aspirations in the field of economics.

Additional Resources:

• Economics vs Financial Analysis: Career ROI
• Best Online Doctor of Finance Degree Programs
• Best Grad Schools with Online Doctorate in Entrepreneurship

Related Posts

We’re certain of one thing—your search for more information on picking the best graduate degree or school landed you here. Let our experts help guide your through the decision making process with thoughtful content written by experts.

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.

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

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

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

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

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

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Ph.d. studies at princeton economics.

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

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

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

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

Job Market Placements

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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Best Doctorates in Economics: Top PhD Programs, Career Paths, and Salaries

If you’re a graduate student and interested in pursuing an advanced study in the field of economics, you should start researching the best PhDs in Economics. By enrolling in an economics PhD program, you’ll be getting an in-depth education on past and current economic trends.

In this article, we’ll try to help you choose the right PhD in Economics by going over some of the best programs in the United States. We’ll also cover some of the highest-paying economics jobs on the market and provide an overview of the PhD in economics salary possibilities.

Find your bootcamp match

What is a phd in economics.

A PhD in Economics degree is an advanced doctoral degree program that studies the distribution and consumption of goods and services. Economics classes teach students to analyze small-scale and global-scale economic factors to make predictions for future markets.

The main goal of economics departments in PhD programs is to teach students how to help different institutions improve and optimize their economic actions. Through a mix of teaching, research, and a heavy course load, economics grad students will perfect their quantitative skills and learn to make decisions that increase the profitability of the organizations they work for.

How to Get Into an Economics PhD Program: Admission Requirements

The admission requirements to get into an economics PhD program include a bachelor’s degree in a related field and a minimum 3.0 GPA. Other admission requirements can include GRE exam scores, letters of recommendation, a statement of purpose, and a resume. Admissions counselors will look at a student’s comprehensive experience before grad school.

Different schools have other specific admission requirements for their economics PhD programs, but all international and English as a second language-speaking (ESL) students will have to submit proof of English proficiency in the form of Test of English as a Second Language (TOEFL) exam scores.

PhD in Economics Admission Requirements

• Bachelor’s or master’s degree in a related field
• Minimum 3.0 GPA
• GRE test scores (optional for most schools)
• Two to three letters of recommendation
• Proof of English proficiency (for ESL and international students)
• Statement of purpose
• Previous knowledge in math-intensive subjects, such as economic theory, statistics, mathematics, differential and integral calculus, and linear algebra

Economics PhD Acceptance Rates: How Hard Is It to Get Into a PhD Program in Economics?

It can be very hard to get into economics PhD programs. Economics PhD acceptance rates vary between 2.4 and 7.4 percent. At Johns Hopkins University, for example, only 12 students are selected to enroll in the Economics PhD program out of more than 500 applications.

How to Get Into the Best Universities

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Best PhDs in Economics: In Brief

Best Universities for Economics PhDs: Where to Get a PhD in Economics

The best universities for PhD economics programs include Arizona State University, John Hopkins University, Syracuse University, and Drexel University. These schools will adequately equip you with the economic knowledge and skills needed to ensure you are ready for a well-paying job in the economics career path of your dreams. Continue reading for all you need to know to prepare for grad school at one of the top Phd in Economics degree programs.

Arizona State University is a public research university founded in 1886. It is considered one of the best institutions for superior education. ASU offers more than 400 graduate degree programs led by experts and has been ranked as the nation’s most innovative university by US News & World Report . 

PhD in Economics

This economics PhD program provides training in microeconomic and macroeconomic theory, applied economics, and econometrics. Classrooms are relatively small, with about 45 graduate students, to facilitate mentoring and provide greater faculty attention within the department of economics. The program prepares students for teaching and research positions in the field of economics. 

PhD in Economics Overview

• Program Length: 5 years
• Acceptance Rate: Not stated
• Tuition: $ 858/credit (in state); $1,361/credit (out of state)
• PhD Funding Opportunities: National Science Foundation Graduate Research Fellowship, graduate teaching assistantships
• Bachelor's or master's degree from a regionally accredited institution
• Minimum cumulative GPA of 3.0
• Graduate admission application and application fee
• Official transcripts
• Three letters of recommendation

Colorado State University was founded in 1870. It is a public land-grant research university and is considered the flagship university of the Colorado State University System. It offers several programs and certificates across many fields and has over 7,000 enrolled graduate students.

This economics doctoral program offers meticulous training and teaches research methods in the many different areas of economics. These math intensive classes include microeconomic theory, macroeconomic theory, and econometrics. This econ program requires a minimum of 72 credits and allows students to focus on different areas like environmental, international, political, Keynesian, feminist, or regional economics.

• Tuition: $601.90/credit (in state); $1,475.80/credit (out of state)
• PhD Funding Opportunities: Graduate assistantships, scholarships, fellowships, internships, grants
• Online application and application fee
• Official transcripts of all collegiate work completed post-high school
• Letters of recommendation

Drexel University was founded in 1891. It is a private research university with over 8,900 enrolled graduate students. Their co-op education program sets this university apart from others, offering students the opportunity to get paid and gain real-world experience prior to graduating.

This PhD in Economics teaches a set of core courses including microeconomics, macroeconomics, and econometrics. Students are then required to specialize and demonstrate math skills in industrial organization, international economics, or macroeconomics. This PhD is an official STEM Designated Degree Program. Each class is composed of three to six doctoral students to optimize and facilitate interactions between students and faculty. 

• Tuition: $1,342/credit
• PhD Funding Opportunities: Graduate assistantships
• GRE scores from the past five years
• Personal statement
• Two letters of recommendation

Johns Hopkins University is a world-renowned private research university. It was founded in 1876 and is now organized into 10 campuses in Maryland and Washington, with international divisions in Italy and China. The university has over 22,000 graduate students enrolled across its social sciences, engineering, arts, and business schools.

This economics program is led by expert faculty and trains students in applied microeconomics and macroeconomics, economic theory, and econometrics. Students will receive one-on-one attention from faculty, allowing them to conduct better research and strengthen the complex analysis and quantitative skills necessary in the field of econ. 

• Program Length: 5-6 years
• Acceptance Rate: 2.4%
• Tuition: $58,720/year 
• PhD Funding Opportunities: Departmental fellowship (1st year), teaching or research assistantships (2nd to 5th years), Carl Christ Fellowship, Kelly Miller Fellowship, tuition fees funded by the department for enrolled students
• Unofficial transcripts from all previous colleges and universities
• GRE scores (quantitative scores of 160 or above)
• Minimum of two letters of recommendation

Kansas State University was founded in 1863 as the first public institution of higher education in Kansas. KSU is a public land-grant research university and has over 4,500 enrolled graduate students across 73 master's and 43 doctoral degree programs.

This PhD Economics program teaches students about the latest advances in econometrics, economic theory, and computation. The program requires the completion of a minimum of 90 credits, of which 30 are designated to researching and writing a high-quality dissertation.

• Tuition and Fees: $6,282/year (in state); $12,746/year (out of state)
• PhD Funding Opportunities: Teaching assistantships, the Wayne Nafziger Graduate Scholarship, the Lloyd and Sally Thomas Graduate Scholarship, and Edward Bagley Graduate Scholarship; tuition fees funded by the department for enrolled students
• Academic transcripts of all undergraduate and graduate coursework from each institution attended
• Short statement of objectives for graduate study
• GRE scores from the past five years (optional but encouraged)

Oregon State University ’s roots can be traced back to 1856 as a public land-grant research university that was founded as a primary and preparatory community school. Today, the university is the largest in Oregon. Oregon State is particularly renowned for its programs in earth, marine, and biological sciences and has over 5,668 enrolled graduate students.

PhD in Applied Economics

The 108-credit Applied Economics PhD degree program teaches students about economic theory, econometrics, development economics, and other quantitative methods. Grad school students of this program will gain the intellectual autonomy needed to examine real-world problems and apply relevant solutions regarding policy, education, trade, and the environment. 

PhD in Applied Economics Overview

• Program Length: 4-5 years
• Acceptance Rate: 6.7%
• Tuition: $498/credit (in state); $1,011/credit (out of state)
• PhD Funding Opportunities: Graduate assistantship

PhD in Applied Economics Admission Requirements

• Academic records from each institution attended
• Letters of reference
• Statement of objectives

Syracuse University is a private research university founded in 1831 with over 6,800 enrolled graduate students. Syracuse is ranked 59th on US News & World Report’s list of best national universities and features famous alum President Joe Biden. 

The PhD in Economics program at Syracuse University is a research-oriented degree that requires the completion of 72 credits. The program teaches students about mathematical economics, microeconomic theory, macroeconomic theory, and econometrics. Students will specialize in a primary field in labor, international, public, urban economics, or econometrics. 

• Acceptance Rate: N/A
• Tuition: $32,436/year
• PhD Funding Opportunities: University Fellowships, graduate assistantships, Melvin Eggers Graduate Economics Scholarship for Doctoral Students, David Greytak Fellowship Fund
• Transcripts from all collegiate and post-collegiate work
• Three letters of recommendation 

University of Maryland (UMD) at College Park was founded in 1856 and is the flagship campus of the University System of Maryland. UMD is a public, land-grant research university with 10,500 enrolled graduate students in over 230 graduate degree programs.  

PhD in Economics (ECON)

This econ PhD program offers a wide range of specializations to students, including advanced macroeconomics or microeconomics, behavioral and experimental economics, econometrics, economic history, international trade, and public economics. Students who enroll directly after they finish their bachelor’s degree are also able to obtain a Master of Arts degree simultaneously. 

PhD in Economics (ECON) Overview

• Acceptance Rate: 4.1%
• Tuition: $1,269/semester (in state); $2,496/semester (out of state)
• PhD Funding Opportunities: Graduate assistantships, Fellowship in Support of Diversity and Inclusion

PhD in Economics (ECON) Admission Requirements

• Transcripts from all institutions attended after high school
• Description of research and work experience
• GRE exam scores (optional)

University of Utah was established in 1850 as a public research university and is now considered the flagship institution of the Utah System of Higher Education. It currently has over 8,400 enrolled graduate students and offers several programs with financial assistance, academic opportunities, and postdoctoral fellows.

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This economics PhD program allows students to explore many topics, including economic theory, post-Keynesian macroeconomics, Marxian economics, the economics of gender, labor market institutions, and intensive math classes. The program focuses particularly on themes of inequality, globalization, and sustainability. 

• Acceptance Rate: 7.4%
• Tuition and Fees: $1,271.79/credit (in state); $4,517.11/credit (out of state)
• PhD Funding Opportunities: Graduate assistantships (research and teaching), fellowships, scholarships
• Completion of intermediate microeconomic and macroeconomic theory prerequisite courses 
• Three academic reference letters
• Brief statement of personal academic goals

West Virginia University was founded in 1867 as a public land-grant research university. Today, the university enrolls over 5,700 graduate students in more than 350 programs throughout 14 colleges and high-quality schools.

This 45-credit PhD program trains students to conduct original research, produce publishable articles, analyze real-world problems from economists and policymakers, and effectively communicate their results. Doctorate students must choose a specialization in health, international, monetary, public, regional, or urban economics. Classes in economics have a small number of students to facilitate and encourage interaction between students and faculty.

• Program Length: 4 years
• Tuition and Fees: $899/credit (in state); $2,053/credit (out of state)
• PhD Funding Opportunities: Graduate assistantships, Arlen G. and Louise Stone Swiger Doctoral Fellowship, W.E.B. Du Bois Fellowship, Provost Graduate Fellowship
• Minimum GRE score of, 300
• Completion of statistics, intermediate micro and macro theory, and calculus prerequisite courses

Can You Get a PhD in Economics Online?

Yes, you can get a PhD in economics online. Liberty University currently offers an online PhD in Public Policy with a concentration in Economic Policy. This program focuses on teaching students how to shape economic policy across legislation, communications, politics, education, and international relations. Grad school students can complete this online program in three years.

Best Online PhD Programs in Economics

How Long Does It Take to Get a PhD in Economics?

It takes five years on average to get a PhD in Economics. The first two years are usually spent completing core classes in economics, and by the third year, students prepare for exams in their specialization field of choice. The final two years are for research and writing a dissertation.

Some students are able to complete their PhD program in less time. Others take up to seven years to finish their degrees, especially if they don’t already have a master’s degree in the field, or are taking courses part-time.

Is a PhD in Economics Hard?

Yes, a PhD in Economics is a hard degree to obtain. However, at this level of education, regardless of the area of study you choose, all programs are hard to complete. Doctoral programs are intended for students who wish to become true experts in their field of choice.

Economics PhD programs are hard because extensive research and practical capabilities are required of candidates. Through a heavy course load, econ grad students are expected to work hard to develop their skills to the maximum and create publishable, high-quality work.

How Much Does It Cost to Get a PhD in Economics?

It costs an average of $19,314 per year to get a PhD in Economics , according to the National Center for Education Statistics. This value is an average of the graduate tuition required in all public and private institutions between 2018 and 2019. Tuition rates will vary by school, and private universities are often more expensive than public institutions.

How to Pay for a PhD in Economics: PhD Funding Options

PhD funding options that students can use to pay for a PhD in Economics include research and teaching assistantships, and many different fellowships and scholarships. These can either be provided directly by the university or by independent institutions and organizations.

Some of these include the Provost Graduate Fellowship, the Melvin Eggers Graduate Economics Scholarship for Doctoral Students, and the National Science Foundation Graduate Research Fellowship Program.

Best Online Master’s Degrees

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What Is the Difference Between an Economics Master’s Degree and PhD?

The main difference between an economics master’s degree and a PhD is that master’s degrees are more career-oriented, while PhDs are focused on research. Since many doctorate students wish to pursue academic careers and teach in high-quality schools, they opt for a PhD program that allows them to acquire expert-level knowledge through research and assistant teaching.

Other differences between these two programs include funding options for payment, as master’s degrees don’t have as many funding options as PhD programs do, as well as the time of completion and the difference in salary between economics master’s and PhD graduates.

Master’s vs PhD in Economics Job Outlook

Employment for both economics master’s and PhD graduates is expected to grow in the next 10 years. However, the growth percentage is much higher for certain economics jobs for those with a doctoral degree. For example, employment for budget analysts, a position that requires only a Master’s Degree in Economics, is projected to grow five percent from 2020 to 2030, which is slower than the average growth for all occupations.

On the other hand, employment for postsecondary teachers, who typically need to have a PhD in Economics, is expected to grow 12 percent in the next 10 years .

Difference in Salary for Economics Master’s vs PhD

Considering the differences mentioned above, there’s a significant difference in average salaries for economics master’s and PhD graduates. While a budget analyst makes around $84,240 on average per year, a postsecondary teacher makes $124,090 on average per year.

According to PayScale, the average salary of someone with a Master’s Degree in Economics is $82,000 per year , whereas the average salary of someone with a PhD in Economics is $110,000 per year .

Related Economics Degrees

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Why You Should Get a PhD in Economics

You should get a PhD in Economics because it will allow you to learn many valuable quantitative and analytical skills in the field, improve how you communicate with peers and non-experts alike, learn from a wide variety of specializations, and put you on track for a career in research and academics.

Reasons for Getting a PhD in Economics

• Wide range of specializations. A PhD in Economics allows you to specialize in an area that interests you most, such as financial, labor, international, political, business, feminist, Keynesian, environmental, or development economics.
• Improve communication skills. Throughout your economics PhD program, you’ll be required to publish high-quality articles for peer review. This means that you’ll also be expected to learn how to communicate your findings to the common layman.
• Learn many relevant skills. Econ students learn skills that will allow them to work for several institutions. They’re able to evaluate and calculate risk, make predictions, develop and use mathematical models, and deeply understand market dynamics.
• Work in academia. Most PhD graduates desire to become professors themselves. A PhD in Economics allows students to work for all kinds of superior institutions and have a fulfilling career in research and academia.

Getting a PhD in Economics: Economics PhD Coursework

Getting a PhD in Economics begins with core economics PhD coursework. For most programs, these courses include micro and macroeconomics, econometrics, mathematics for economists, and research design and methodology.

Microeconomics

A microeconomics course teaches decision-making when it comes to allocating resources of production, exchange, and consumption. Students learn about consumer and producer theory, general equilibrium theory, game theory, and other key applied microeconomic topics.

Macroeconomics

Macroeconomics is the area of economics that studies the economy as a whole. It accounts for the total goods and services provided, economic growth, and total income and consumption. In this course, students learn about the different macroeconomic models and current trends in macroeconomic thought.

Econometrics

In an econometrics course, students learn about probability and statistics, random variables, and hypothesis-testing procedures. Students will also be able to apply mathematical formulations to create complex economic models.

Mathematics for Economists

This core course is important to review the mathematical techniques required in economics. Students consolidate their knowledge in calculus, matrixes, algebra, differential equations, and set theory.

Research Design and Methodology

This introductory course is fundamental to guide students through conducting relevant research in economics literature for their dissertation, article publications, seminars, and any other papers they’ll need to prepare.

Best Master’s Degrees

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How to Get a PhD in Economics: Doctoral Program Requirements

If you’re wondering how to get a PhD in Economics, the answer is pretty straightforward. To successfully complete an economics PhD program, students will have to complete all of the doctoral program requirements. These include successfully concluding core economics classes, establishing a program of study, passing the qualifying exam and candidacy examination, and defending a final dissertation.

Every PhD student will have to take a common set of core courses during their first year. These courses in micro and macroeconomics, econometrics, and mathematics provide students with basic training for conducting research in their field at advanced levels.

At the end of the first year, students will take their first-year exam to prove their competence in the core course and readiness to continue with the program. Passing these exams will allow students to choose their specialization courses for the second year.

Just before the beginning of the second year, students will work with an advisor to help them figure out the specialization courses best for them. They will also facilitate the process of finding a permanent advisor and creating a program of study for the rest of the degree program.

Candidacy examinations, or field course exams, are tests that prove a student’s knowledge in the specialized fields in which they wish to pursue their dissertation research. Upon passing these examinations, students are then recognized as PhD candidates.

By the end of the fifth year, most students have already completed their research and are ready to present and defend their theses. Students defend their dissertation in a final oral examination. Upon passing the defense, students must submit a final copy of their dissertation.

Potential Careers With an Economics Degree

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PhD in Economics Salary and Job Outlook

Getting a PhD in Economics will grant you career stability and financial security. Career prospects in the economics field are great, as employment in these jobs is projected to grow faster than average. Continue reading for a list of some of the best PhD in Economics jobs available to graduates and an overview of their annual salaries.

What Can You Do With a PhD in Economics?

With a PhD in Economics, you can apply to many high-paying jobs in the field. These jobs can include financial manager, postsecondary economics teacher, economist, personal financial advisor, or even urban and regional planner roles.

Best Jobs with a PhD in Economics

• Financial Manager
• Postsecondary Economics Teacher
• Personal Financial Advisor
• Urban and Regional Planner

What Is the Average Salary for a PhD in Economics?

The average salary for someone with a PhD in Economics is $110,000 per year , according to PayScale. This value varies depending on the career path you choose, the company you work for, or even the industry you base your work in.

Highest-Paying Economics Jobs for PhD Grads

Best Economics Jobs with a Doctorate

In this section, we’ll cover the best economics jobs you can get with a doctoral degree. They include financial managers, postsecondary teachers, and economists. Other high-paying jobs include personal financial advisors and urban and regional planners.

Financial managers are responsible for the financial standing of a company or organization. They coordinate accounting and investing, create financial reports, and develop long-term financial goals for their company. They must have knowledge of the tax laws and regulations specific to their industry.

• Salary with an Economics PhD: $153,460
• Job Outlook: 17% job growth from 2020 to 2030
• Number of Jobs: 681,700
• Highest-Paying States: New York, Delaware, and New Jersey

Many economics PhD students are interested in teaching in postsecondary academic institutions. After being hired, these professors are placed in the school’s department of economics where they can conduct research and teach one or more courses in the field.

• Salary with an Economics PhD: $124,090
• Job Outlook: 12% job growth from 2020 to 2030
• Number of Jobs: 1,276,900
• Highest-Paying States: New Hampshire, Montana, and California

Economists apply their knowledge and skills in economic analysis within a great variety of fields. They study the cost of products, examine employment, taxes, and inflation levels, and analyze economic history trends to make predictions for the future.

• Salary with an Economics PhD: $120,830
• Job Outlook: 13% job growth from 2020 to 2030
• Number of Jobs: 18,600
• Highest-Paying States: New York, Washington DC, and California

Personal financial advisors advise clients on investments, insurance, mortgages, taxes, and other areas related to financial investment and management. They work to assess a client’s needs and help them make the best financial decisions for their future.

• Salary with an Economics PhD: $119,960
• Job Outlook: 5% job growth from 2020 to 2030
• Number of Jobs: 275,200
• Highest-Paying States: New York, Washington DC, and Washington

Urban and regional planners gather and analyze information regarding economic, population, and environmental factors to advise developers on their plans to use land. Using their analytical and data skills, they eventually have the final say on whether a land project is feasible.

• Salary with an Economics PhD: $81,310
• Job Outlook: 7% job growth from 2020 to 2030
• Number of Jobs: 39,100
• Highest-Paying States: Washington DC, California, and New York

Is a PhD in Economics Worth It?

Yes, a PhD in Economics is worth it. Getting an economics PhD is a great way to gain valuable skills for the econ job market, work on your overall communication, and guarantee financial security and stability over the course of your career.

Economics PhD graduates can choose between conducting research and teaching in superior institutions, prestigious government positions, and continuous work at some of the highest-paying private institutions.

Additional Reading About Economics

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PhD in Economics FAQ

Some of the top companies that are hiring economists in 2022 include RAND, the Federal Reserve Bank of New York, and the World Bank. Fannie Mae, the IMF, and Amazon are also top companies looking for economists.

Yes, you are expected to teach or somehow be involved in classroom experiences during your PhD program. Most students receive financial funding through teaching assistantships. These are viewed as an important component of the PhD college career.

You’ll need to have some kind of mathematics background to be admitted to an economics PhD program. All candidates must have taken intensive math classes and need proven math ability in calculus, linear algebra, and differential equations.

No, you don’t need an econ master’s degree to enroll in an economics PhD. However, only a small number of applicants are accepted into these programs and a master’s degree could be considered a competitive edge.

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Rankings of Doctoral Programs in Economics

There are numerous rankings of Economics Ph.D. programs available.

U.S. News and World Report

According to the 2017 rankings released by U.S. News and World Report , Iowa State University's graduate program in Economics was ranked 28th among public universities and tied for 53rd overall. This ranking was two slots higher than the previous ranking.

National Research Council

One recent assessment resulted from a comprehensive survey of doctoral programs undertaken by the National Research Council (“ A Data-Based Assessment of Research-Doctorate Programs in the United States (2010) ”).  The NRC’s program assessment methodology and results are somewhat complex, but one synthesis of their findings  places our program within the top 30 Economics Ph.D. programs in the U.S .; and among the top 10 in public universities.

Research Papers in Economics (RePEc)

RePEc , sponsored by the Research Division of the Federal Reserve Bank of St. Louis, is a comprehensive database of research papers in economics.  The information in the database is used to rank the research productivity of registered authors based on a variety of metrics.  Authors’ rankings, in turn, are used to rank the institutions with which they are affiliated for academic departments of both economics and agricultural economics .

American Economic Association

Links to other rankings of graduate programs in economics are provided on the American Economic Association website .

Econphd.net

By field of specialization, a ranking by econphd.net places our department 4th in the “subdiscipline” of Resource and Agricultural Economics.   This subdiscipline is further partitioned according to JEL descriptors into two parts:  Resource and Environmental Economics, in which we rank 8th; and Agricultural Economics, in which we rank 1st overall.

Journal Articles Ranking Economics Programs

• Based on faculty productivity, “ A Guide to Graduate Study in Economics: Ranking Economics Departments by Fields of Expertise, ” by T.C. Grijalva and C. Nowell, Southern Economic Journal, 2008: 74(4), pp. 971-96.  According to this study, our program ranks 31st overall (15th among public universities) and 1st overall in the field of Agricultural and Natural Resource Economics.
• A more recent ranking of economics programs, see " Ranking U.S. Economics Programs by Faculty and Graduate Publications: An Update Using 1994 - 2009 Data, " by M. A. McPherson, Southern Economic Journal, 2012:  79 (1), pp. 71-89.

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Top programs for PhD in Economics

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Economics PhDs

On this page:.

• Introduction
• 1 Research process
• 2 What is this career path?
• 3 Entry requirements
• 4.1 Doing high impact research
• 4.2 Advocacy potential
• 4.3 Other benefits
• 5 What are the downsides of doing an economics PhD?
• 6 Who should consider doing an economics PhD?
• 7 Next steps
• 8 Learn more
• 9 Get free, one-on-one career advice

An economics PhD is one of the most attractive graduate programs: if you get through, you have a high chance of landing an impactful research job in academia or policy. In particular, academic economics is one of the best ways of conducting and promoting global priorities research, one of our priority paths . You have back-up options in the corporate sector since the skills you learn are in-demand (unlike many PhD programs). You should especially consider an economics PhD if you want to go into research roles, are good at math (i.e. quant GRE score above 165) and have a proven interest in economics research.

• • Decent chance of entering economics academia, which has potential for highly valuable research (such as contributing to global priorities research) and the option of working on topics in related social sciences.
• • In demand by think-tanks, government departments and international organisations (e.g. IMF, World Bank).
• • Gain a broad set of tools for understanding how the social world works and evaluating causes and interventions.
• • High degree of autonomy when writing your dissertation.
• • Backup options in the corporate sector.
• • Takes a long time (5-7 years), with low pay.
• • Doing highly open-ended research provides little feedback which can be unmotivating.

Key facts on fit  

You can test your ability and interest by taking classes in economics, math and statistics either at your university or online. You don’t need an economics undergraduate degree to enter but proven math ability is required, so make sure you study quantitative subjects. See this guide to getting into an economics PhD program.

Get free, one-on-one career advice

We’ve helped hundreds of people compare between their options and introduced them to people who can help them with their career. If you’re interested in using an economics PhD to work on issues like global priorities research or artificial intelligence policy , apply for our free coaching service :

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If you are well suited to this career, it may be the best way for you to have a social impact.

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Table of Contents

Research process

For this profile, we interviewed economist Robin Hanson and read the following sources. See all our research in our wiki .

What is this career path?

In this profile we focus on doing an Economics PhD in the US, which usually takes 5-7 years. 1 In the first two years you take classes and the remaining time is spent on writing a dissertation. You usually have to teach during your PhD. More detail on what you do in each phase is here . At the end, you usually apply for jobs through the centrally organised Job Openings for Economists , which is run by the American Economic Association, or you can apply for jobs independently.

Entry requirements

An economics major isn’t required but you need proven math ability and it helps to have taken mathematical economics classes.

You also need:

• A high score on the quantitative reasoning section of the GRE – 165 (90th percentile for all individuals taking the GRE) or higher for most programs. If your score is less than 160, your chances are very low. 2
• A high GPA (3.5+), especially in economics and mathematics. 3
• Excellent letters of recommendation from academics; ideally, those that are well-known.

Can you enter from a non-quantitative background? It’s possible, but difficult. You’ll need to spend one to three years retraining. See some advice on how to meet the entry requirements if you have a non-quantitative undergraduate degree .

Why should you do an economics PhD?

Doing high impact research.

Research in economics academia is a potentially very high impact option because you can work on priority cause areas, like global priorities research or AI policy . For example, to contribute to global priorities research you might work on the economics of existential risk and long-term trajectory change, while the macroeconomics, political economy and industrial organisation of AI will be important for developing informed AI policy.

Doing such research is a realistic option because Economics professors get a lot freedom to do research across a wide range of topics and disciplines. That also gives you great option value for future research. 4 You often even get a high degree of autonomy with your dissertation and aren’t forced to specialise narrowly in your advisor’s research interests, giving you freedom to pursue research topics that you most want to work on during your PhD itself (though we’ve heard that sometimes there is pressure to choose topics with higher publication and job market value).

If you do an economics PhD, you have a decent chance of getting a job as an academic: Data indicates that more than half of economics PhD’s get jobs in academia after their PhD. 5

Non-academic research

If you don’t get a job in academia, or if you don’t want to, there are other important sectors that explicitly hire economics PhD’s, including:

• Government (e.g. Federal Reserve, Treasury, Department of Justice)
• Nonprofit research organisations and think-tanks (e.g. RAND , National Bureau of Economic Research)
• International organisations (e.g. World Bank, International Monetary Fund)

The impact you can have in these jobs tends to be more direct and focused on specific issues than in academia. Many of these jobs are advertised on the Job Openings for Economists , which means you don’t have to apply for them separately from academic jobs.

Advocacy potential

Having an economics PhD also puts you in a position to build a public platform and become a public intellectual through journalism and writing books.

You can also influence policy through your research, though some claim that most of the time economists just provide arguments for people with pre-existing views. However there could be room for outsized influence if you provide policy recommendations on issues that are orthogonal to popular disputes, 6 and our guess is that in the long-run economists can change conventional wisdom about what is good policy. You might do this by engaging directly with policy or by conducting academic research on the most pressing problems in order to shift the research priorities of the economics community. Examples of organisations working on the latter are the Global Priorities Institute and the Forethought Foundation .

Other benefits

• You gain a broad set of tools for understanding how the social world works, which is helpful for evaluating causes and interventions. This may help you better evaluate your future career options to have more impact. A notable example of this in action is the founding of GiveDirectly (one of GiveWell’s top recommended charities), which was founded by economics PhD students.
• Excellent job prospects: You are nearly guaranteed a job. The unemployment rate for economics PhD’s is very low (0.8% in 2013) and data indicates that it has the lowest unemployment rate of all science and engineering PhD’s. 7 You also get the benefit of the centrally organised Job Openings for Economists , which allows you to apply to many different jobs in a short period of time and interview for them at the same time, in the same place.
• Academic salaries for economics PhD’s tend to be higher than other PhD’s. The median pay for those who gained economics PhD’s in 2013 and were in full-time employment at a university was $108,000, which is higher than all other science PhD’s. 8 Moreover, the jobs outside of academia which economics PhD’s get are higher paid than non-academic jobs other PhD’s get. 9

What are the downsides of doing an economics PhD?

• You have a relatively low income whilst doing your PhD and have to work very long hours.
• You spend 5-7 years getting exposure only to academia, making this option less good for exploration value.
• The high degree of autonomy you get means there is little external structure on your time, which can be stressful, and you get very little feedback about how well you are doing which can be demotivating.
• Many PhD economists end up in academic jobs where they spend a large portion of their time teaching, leaving less time for research. 10

Who should consider doing an economics PhD?

Commonly given advice is that you should only do an economics PhD if you:

• Are good at math and enjoy formal models in economics
• Are willing to study 50-80 hours per week (hours are particularly long in the first year)
• Love intellectual pursuits and have a strong drive to do self-directed research. 11

If you meet those conditions, then an economics PhD may be a good option for you if you want to go into economics academia or if you want to do high-level research at think-tanks or international organisations.

To get a sense of what academic research looks like, try reading published papers in major journals, such as the American Economic Review ( here is one paper ). You can then test your ability and interest by taking classes in economics, math and statistics either at your university or online.

If you are interested in global priorities research, read our problem profile on the topic, and the research agenda of the Global Priorities Institute.

There are many guides online to getting into an economics PhD. We recommend that you start by reading this one , and then read a few of the others . If you’re applying from a non-quantitative background, see these tips by one of our users.

• Ideas for research questions in economics
• Noah Smith – If you get a PhD, get an economics PhD
• All our articles on Economics PhD’s
• Publishing and Promotion in Economics: The Tyranny of the Top Five by James J. Heckman and Sidharth Moktan
• Podcast: Dr Eva Vivalt’s research suggests social science findings don’t generalize. So evidence-based development – what is it good for?
• Podcast: David Roodman on incarceration, geomagnetic storms, & becoming a world-class researcher
• Podcast: Rachel Glennerster on how “market shaping” could help solve climate change, pandemics, and other global problems
• Podcast: Prof Yew-Kwang Ng is a visionary economist who anticipated many key ideas in effective altruism decades ago. Here’s his take on ethics and how to create a much happier world.
• Podcast: Mushtaq Khan on using institutional economics to predict effective government reforms
• Podcast: Economist Bryan Caplan on whether lazy parenting is OK, what really helps workers, and betting on beliefs

Notes and references

• See our wiki. ↩
• GRE Guide Table 1a and A Guide for UCSB Undergraduates Considering a PhD in Economics ↩
• “An overall GPA of at least 3.5 is a prerequisite. It is not uncommon to see an almost perfect GPA among top candidates.” Tips on Applying to Top Graduate Programs in Economics ↩
• “What other profession gives you so much freedom to choose your research topics? Many economists now devote their careers to studying topics which an outsider would classify as political science, psychology, or sociology. Some economists even do work that basically amounts to history or philosophy, though they probably need to work on more conventional topics until they get tenure.” Bryan Caplan – Is the Econ Ph.D. a Free Lunch? ↩
• “Among the successful job seekers, 62.8 percent found employment in academic institutions as compared to 61.0 percent in the 2013-14 year.” Center for Business and Economic Research, University of Arkansas. SURVEY OF THE LABOR MARKET FOR NEW PH.D. HIRES IN ECONOMICS 2015-2016 See also National Science Foundation. TABLE 61. Statistical profile of postgraduation plans of doctorate recipients in social sciences fields, by sex and field of study: 2013 ↩
• “Economists rarely influence policy as advisors for people who haven’t made up their minds and want advice. Instead, people who favor a certain position generally seek policy advisors who they will expect will provide arguments favoring their position. So economists, and other policy advisors, often have influence mainly by providing ammunition for advocates of the views they support. There is more room for influence if you provide policy recommendations that are orthogonal to popular disputes.” The value of economics PhDs: A conversation with Robin Hanson ↩
• National Science Foundation. Table 4-1. Unemployment rate among doctoral scientists and engineers, by field of doctorate: 2013 ↩
• National Science Foundation. Table 54. Median annual salaries of full-time employed doctoral scientists and engineers, by field of doctorate and sector of employment: 2013 ↩
• In 2013 Economics PhD’s had the highest median starting salaries of all science doctorates in government ($137,000), nonprofits ($135,000), and for-profit private companies ($148,000). National Science Foundation. Table 54. Median annual salaries of full-time employed doctoral scientists and engineers, by field of doctorate and sector of employment: 2013 ↩
• “…many econ PhDs teach college level courses while conducting very little research.” A Guide for UCSB Undergraduates Considering a PhD in Economics ↩
• A Guide for UCSB Undergraduates Considering a PhD in Economics ↩

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PhD In Economics Explained: Eligibility, Fees, Admission 2024

Muhammad Hasim Sheikh Aug 29, 2024 1K Reads

PhD (Doctor of Philosophy) in Economics is a terminal degree in the field of economics. PhD in Economics is considered the highest qualification and the individuals who have completed this degree are awarded a doctorate.

PhD in Economics is a doctoral degree and individuals pursuing it get advanced research and analysis in this field.  Individuals who are eager to conduct original research in economic theory, policy, or applied economics can pursue this degree. 

PhD in Economics can be pursued after completing a master's degree in Economics. However, some universities allow students to pursue a PhD degree in Economics with any master’s degree. PhD in Economics is highly beneficial for careers in academia and various sectors of diverse industry.

PhD in Economics emphasizes on research and PhD candidates are expected to produce a well-researched dissertation. The dissertation must include all the research and findings during the PhD that can contribute to the field of knowledge. 

Duration of PhD in Economics 

The duration of the PhD program depends upon the type of PhD. Generally, the duration of a Full-Time PhD in Economics ranges from 3 Years to 5 Years which can be further extended to 7 Years.

The duration of a Part-Time PhD in Economics ranges from 4 Years to 7 Years:

However, working professionals looking for a doctorate that can accommodate their professional obligations and academic learning can enroll for an Online DBA (Doctorate of Business Administration). The duration of an Online DBA is just 3 Years and business executives can pursue it without quitting their jobs. 

PhD in Economics Program Highlights 

Here are the major highlights of a PhD program in Economics. The table below demonstrates the full details regarding PhD in Economics and gives a brief idea about PhD in Economics full form,  PhD in Economics duration, PhD in Economics eligibility requirements, entrance exams for PhD in Economics, best universities and colleges for PhD in Economics, etc.

Why Pursue PhD in Economics?

Before enrolling in a PhD program in Economics, the benefits and the reasons for pursuing this program must be discussed. Individuals who wish to pursue this program must have a great interest in the field of economics.

PhD IN Economics offers a great opportunity to individuals who are willing to conduct original research in the field of Economics. PhD candidates have a significant research opportunity in economic theory, policy, or applied economics. 

Candidates enrolled in the PhD program in Economics get a highly research-oriented curriculum that begins with comprehensive coursework. The coursework provides a strong foundation in the field of economics with courses in macroeconomics, microeconomics, and econometrics.

This is highly beneficial for conducting in-depth research on the selected research topic. The coursework is followed by extensive research work and dissertation writing. With the original research work in the Economics domain, an individual can contribute in the field of economics with an original research work.

This opens doors to a wide range of career opportunities in numerous industries in the field. PhD graduates in economics can also make a great career in academia. 

PhD in Economics Eligibility Criteria

Universities and Institutes offering PhD programs in Economics have a set of eligibility requirements for admissions. Candidates aspiring to pursue PhD in Economics must fulfill this requirement to get admission to this program. Candidates who are interested in pursuing PhD in Economics must have completed their master's in Economics. Although, there are universities that allow students from any background to pursue this program.

Here are the eligibility criteria for PhD in Economics:

• Master’s degree in Economics from a recognized and approved University. 
• Master's degree in any discipline from a recognized and approved University. (This depends on the particular university and all universities do not allow it).
• Scored at least 60% marks in aggregate at the master’s level.
• Qualified for national-level entrance tests such as UGC NET, and GATE. 
• Candidates in their final year of master’s degree can also apply.

Entrance Tests for PhD in Economics 

Admissions to the PhD program in Economics is entertained based on various entrance tests conducted throughout the country. Apart from this, universities also conduct entrance tests for students who have not qualified for any national or state-level entrance tests for admission in PhD program in Economics.

Here are some of the most popular and well-known entrance tests for admission to PhD programs:

• UGC-NET: This is a national-level entrance exam conducted throughout India twice a year. The exam is conducted by the University Grants Commission (UGC) through the National Testing Agency (NTA). Generally, exams for UGC NET are conducted in June and December every year.
• GATE: GATE  is also a national-level exam that is conducted for admission to PhD in Economics in top and premier institutes in India. Generally, the GATE exams are conducted in February every year. 
• IIM PhD: Indian Institute of Management also conducts entrance tests for the candidates who are interested in PhD in Economics. Candidates aspiring to pursue their PhD in Economics from IIM can take this test. 
• University-Specific Tests: Apart from the above-mentioned entrance tests, universities offering PhD in Economics also conduct entrance tests for admission to this program. Students who could not qualify for the entrance tests can attend university-specific entrance tests for admission in PhD in Economics.

Admission Process for PhD in Economics 

The admission process for PhD in Economics is almost similar in all the universities across India. However, universities have full liberty in deciding the admission process for a PhD. PhD aspirants in economics can secure their admission by following these steps:

Application Submission:

• Step 1: Select the appropriate university that offers PhD in Economics.
• Step 2: Go through the eligibility requirements and check whether you fulfill those eligibility requirements. 
• Step 3: Visit the official website of the university and select the admission section. 
• Step 4: Register yourself and fill out the application form for PhD in Economics. 
• Step 6: Attach the documents required by the university. 
• Step 5:  Review the application form and pay the application fees. 

Written Test:

After submitting the application form, the university issues admit cards for written entrance tests. Applicants who have filled out the application form are required to appear for the entrance exam. Most universities provide exemptions in the entrance exams to students who have qualified in any national level PhD entrance exam such as UGC NET. 

Personal Interview and Research Proposal:

Candidates who qualify for the written entrance test and those who were exempted from the written entrance test will be called for a personal interview.

Candidates will have to prepare a detailed research proposal and appear before the Departmental Research Committee (DRC)  for an interview. They need to defend their research proposal in the interview. A merit list will be prepared once all the candidates are done with the interview.

Admission Offer :

Candidates will get admission offer as per their rank in the merit list. Candidates receiving the admission offer can accept it by paying the admission fees:

PhD in Economics: Syllabus and Course Details

UGC- NET Syllabus for Economics 

Here is the latest and most updated syllabus for UGC-NET in Economics:

PhD in Economics Fellowships In India 

Students enrolled in PhD in Economics get financial assistance through numerous fellowships and Scholarships to continue their research uninterrupted. To get these fellowships, PhD students may be required to qualify for certain examinations.

Fellowship significantly removes the financial constraints in the research process and helps to produce high-quality research. Here are some of the top PhD in Economics fellowships and scholarships in India:

Best Universities  for PhD in Economics 

PhD in Economics is offered by some of the top and highly accredited universities and institutes in India. These universities provide cutting-edge research opportunities to conduct high-quality research in the field of economics.

These universities provide highly experienced faculty who have significant experience in research supervision in the field of Economics. PhD in Economics is offered by both private and public universities in India. 

Best Public Universities in India for PhD in Economics

Here is the list of some of the best public universities that offer PhD in Economics:

However, PhD students willing to pursue their doctoral degree from a globally renowned international university with much flexibility and accessibility can join Online DBA (Doctorate of Business Administration). This program is highly flexible and provides advanced research aptitude and expertise in business management and administration.

Best Private Universities in India for PhD in Economics

Here is the list of some of the top private universities in India for PhD in Economics:

Fields of Research in PhD Economics 

PhD in Economics incorporates a wide range of research fields. Here is the list of different fields of research in PhD Economics:

• Agricultural Economics
• Financial Economics
• Labour Economics
• Industrial Economics
• International Economics
• Business Economics
• Banking Economics
• Environmental Economics
• Developmental Economics
• Rural Economics and Rural Development
• Econometrics

Career Opportunities for PhD in Economics 

PhD in Economics is highly beneficial for rewarding career opportunities in academia and a wide range of industries. Here are some of the top career opportunities available upon completion of PhD in Economics:

FAQs (Frequently Asked Questions)

⭐ is phd in economics worth it.

Yes, PhD in Economics is an excellent choice for the advanced and in-depth knowledge and expertise with a wide range of rewarding careers in the field of economics. The program is offered by some of the renowned universities in India under the supervision of highly experienced faculty. 

⭐ What is the duration of PhD in Economics?

The duration of PhD in Economics depends upon the type of PhD program. The duration of a Full-Time PhD program ranges from 3 Years to 5 Years. The duration of Part-Time PhD in Economics ranges from 4 years to 7 Years. However, business executive can complete their doctoral degree in just 3 years by enrolling in Online DBA.

⭐ Can I get admission in PhD in Economics without qualifying for UGC-NET?

Yes, you can get admission in PhD in Economics without qualifying for UGC-NET. You can appear for the entrance test conducted by the universities and qualify to get admission to PhD in Economics. However, to get admission to premier institutes such as the Indian Institute of Mangement (IIM), a UGC NET qualification is mandatory.

⭐ Do I have to leave my job to pursue PhD in Economics?

If you enroll in a Full-Time PhD in Economics, then you are required to leave your job. However, you can continue your job with a doctoral degree by enrolling in Online DBA.

⭐ What are the career opportunities after PhD in Economics?

Post Completion of PhD in Economics, you can make a highly rewarding career as a Lecturer, Banker, Economist, Geographer, Econometricians, etc.

By Muhammad Hasim Sheikh

10 Years of Experience / Storyteller / Research-driven Writer

As an Academic Content Writer and Content strategist, I have great experience in crafting high-quality, research-based content across diverse subjects. My academic background with a doctorate in business Management allows me to create informative and engaging academic materials for students, educators, and institutions. I have expertise in developing well-researched course materials, academic blog

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