arizona state university phd in economics

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• Arizona State University, W. P. Carey School of Business
• PhD in Economics

Statistics, PHD

On this page:, at a glance: program details.

• Location: Tempe campus
• Second Language Requirement: No

Program Description

Degree Awarded: PHD Statistics

As a science, statistics focuses on data collection and data analysis by using theoretical, applied and computational tools. The PhD program in statistics reflects this breadth in tools and considerations while allowing students sufficient flexibility to tailor their program of study to reflect individual interests and goals. Research can be of a disciplinary or transdisciplinary nature.

Degree Requirements

Curriculum plan options.

• 84 credit hours, a written comprehensive exam, a prospectus and a dissertation

Required Core (3 credit hours) STP 526 Theory of Statistical Linear Models (3)

Other Requirements (15 credit hours) IEE 572 Design Engineering Experiments (3) or STP 531 Applied Analysis of Variance (3) IEE 578 Regression Analysis (3) or STP 530 Applied Regression Analysis (3) STP 501 Theory of Statistics I: Distribution Theory 3 (3) STP 502 Theory of Statistics II: Inference (3) STP 527 Statistical Large Sample Theory (3)

Electives (42 credit hours)

Research (12 credit hours) STP 792 Research (12)

Culminating Experience (12 credit hours) STP 799 Dissertation (12)

Additional Curriculum Information Electives are chosen from statistics or related area courses approved by the student's supervisory committee.

Other requirements courses may be substituted with department approval.

Students must pass:

• one qualifying examination and coursework in analysis
• a written comprehensive examination
• a dissertation prospectus defense

Students should see the department website for examination information.

Each student must write a dissertation and defend it orally in front of five dissertation committee members.

Admission Requirements

Applicants must fulfill the requirements of both the Graduate College and The College of Liberal Arts and Sciences.

Applicants are eligible to apply to the program if they have earned a bachelor's or master's degree in mathematics, statistics or a closely related area from a regionally accredited institution.

Applicants must have a minimum cumulative GPA of 3.00 (scale is 4.00 = "A") in the last 60 hours of their first bachelor's degree program or a minimum cumulative GPA of 3.00 (scale is 4.00 = "A") in an applicable master's degree program.

All applicants must submit:

• graduate admission application and application fee
• official transcripts
• statement of education and career goals
• three letters of recommendation
• proof of English proficiency

Additional Application Information An applicant whose native language is not English must provide proof of English proficiency regardless of their current residency.

Completion of the following courses (equivalents at ASU are given in parentheses) is required. Applicants who lack any of these prerequisite courses must complete them before being considered for admission.

• calculus (MAT 270, 271 and 272)
• advanced calculus (MAT 371)
• linear algebra (MAT 342)
• computer programming (CSE 100)
• introductory applied statistics (STP 420)

Next Steps to attend ASU

Learn about our programs, apply to a program, visit our campus, application deadlines, learning outcomes.

• Able to complete original research in statistics.
• Proficient in applying advanced statistical methods in coursework and research.
• Address an original research question in statistics.

Career Opportunities

Statistical analysis and data mining have been identified as two of the most desirable skills in today's job market. Data, and the analysis of data, is big business, and the Department of Labor projects that overall employment of mathematicians and statisticians will grow 33% between 2020 and 2030, much faster than the average for all occupations.

For graduates of the doctoral program in statistics, that means a broad variety of career opportunities in fields as diverse as business, finance, engineering, technology, education, marketing, government and other areas of the economy.

These are just a few of the top career opportunities available for a graduate with a doctoral degree in statistics:

• business consultant or analyst
• data science professor, instructor or researcher
• data scientist
• faculty-track academic
• financial analyst
• market research analyst
• software engineer
• statistician

Program Contact Information

If you have questions related to admission, please click here to request information and an admission specialist will reach out to you directly. For questions regarding faculty or courses, please use the contact information below.

• [email protected]
• 480/965-3951

Anthony Howell

• [email protected]
• 411 N. Central Avenue #407 #407 Phoenix, AZ 85004
• Mail code: 3720 Campus: Dtphx

Please navigate to my personal website ( link ) to see my research and recent CV.

Anthony Howell is an Associate Professor of Public Policy and Management in the School of Public Affairs at ASU. Prior to ASU, he served as an Assistant and later promoted to Associate Professor of Applied Microeconomics in the School of Economics at Peking University, China's flagship university. Anthony previously served as a Fulbright scholar at the Lincoln Institute of Urban Development and Land Policy (Beijing), a Science & Technology policy fellow at the National Academies of Sciences (Washington D.C.), and a research fellow at the Asian Development Bank (Manila). Anthony holds a PhD in Geography (UCLA), M.S. degrees in Statistics (UCLA) and GIScience (MSU), and B.A degrees in Political Science, International Development, and Chinese studies.

• Ph.D. Geography, University of California-Los Angeles
• M.S. Statistics, University of California-Los Angeles
• M.S. Geography/GIS, Michigan State University
• B.A. Political Science, Michigan State University
• B.A. International Development, Michigan State University
• Economic Geography
• Economic Development
• Firm Competitiveness
• Environmental Studies
• Ethnic Disparities
• Policy Evaluation
• Causal Inference
• Geospatial Analysis
• Network Analysis

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Arizona State University

PhD in Economics

Arizona State University, Arizona

W. P. Carey School of Business

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About Course

Program Duration

Degree Type

PhD in Economics at the prestigious Arizona State University is a prestigious degree that offers in-depth learning in Economics. Being a renowned university, Arizona State University receives enough funds to ensure the best education facilities for its students across all programs. This doctorate program offered full-time primarily focuses on the practical implementation of fresh ideas through rigorous study and research. The students are encouraged to add new aspects and findings to the existing area of knowledge. PhD in Economics at ASU is ranked globally by estimated organisations. Such recognition speaks volumes about the course’s importance and effectiveness in the present scenario. The top-notch faculty, modern facilities, and the aura of creativity and innovation in the ASU campus is a life-changing experience for the students looking forward to kickstarting or upgrading their careers. Overall, a PhD in Economics at Arizona State University is an excellent opportunity to grow into a learned professional and bring new developments in the world.

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$1,85,220 / 60 months

5000+ Students

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Economics PhD Program

The economics doctoral program at arizona prepares students for positions in universities, in the private sector and in government and nonprofit organizations..

Students work closely with faculty, and most students receive financial support for their entire residency in the department. The department's faculty has long been among the world's best in experimental economics and in economic history. The department also maintains a strong focus on microeconomics, particularly industrial organization, labor economics, and environmental/energy economics. Some of our students choose a concentration in financial economics, and we offer a PhD in agricultural and resource economics in conjunction with the Department of Agricultural and Resource Economics .

Program Overview

The first two years are geared towards transitioning students into research by formally teaching the computing skills necessary for research and providing students early experience with the research process.

The first year of a student’s program emphasizes comprehensive coursework in the modern concepts and techniques of microeconomic theory and econometrics. This first year also includes novel courses that teach students the coding skills and computational methods necessary for modern research. First-year students also gain exposure to behavioral and experimental economics, meet each of the faculty through a research seminar, and write a first research paper. The preliminary exam for the PhD occurs at the end of the first year.

During the second and third years students work closely with the faculty in seminar courses and workshops. It's here that students make the transition to doing their own research. Students write research papers at the end of their second and third years that the students present to the department. Students receive faculty feedback through a structured evaluation process. These papers often end up as dissertation chapters. Close faculty-student interaction often leads students into collaborative research with one or more faculty members.

Subsequent time in the program is devoted to completing the dissertation, with special emphasis on developing, crafting, and polishing a job market paper.

The department also emphasizes the development of high-quality teaching. A seminar on teaching develops teaching methods and skills. Students serve as teaching assistants in undergraduate courses, after which a student may audition for the opportunity to teach his or her own course. Advice and feedback are provided by faculty members who are nationally recognized for teaching undergraduate economics.

Progression through the program typically takes five years. Students complete core coursework and then specialize in two fields before writing the dissertation. See how students may develop different plans of study to reflect their different areas of research interest.

The department takes care to place students in jobs that match their interests and abilities. Students regularly obtain tenure-track faculty positions at research universities, tenure-track faculty positions at liberal arts colleges, research roles in government agencies and nonprofits, and research roles in the private sector.

Areas of Specialization

The PhD program allows students to specialize in behavioral economics, econometrics, economic history, environmental and energy economics, experimental economics, health economics, industrial organization, labor economics, law and economics or microeconomic theory.

View a list of all available Economics PhD courses, ranging from Microeconomic Theory to Economic History to your Thesis.

Prerequisites

Applicants must have a bachelor’s degree or equivalent from a recognized institution. Students are expected to have completed and performed well in courses that correspond to the UA courses listed below.

• ECON 361 Intermediate Microeconomics
• MATH 122A and MATH 122B Calculus I with Applications
• MATH 129 Calculus II
• MATH 215 Linear Algebra
• MATH 223 Vector Calculus

Recommended

• ECON 418 Econometrics
• MATH 323 Formal Mathematical Reasoning and Writing
• MATH 461 Elements of Statistics

We’re focused but expert. We’re world leaders in experimental economics and economic history, plus have top faculty in industrial organization and labor economics.

View Economics PhD Faculty

Current Students

Meet Eller's current Economics PhD students and job market candidates, who represent a wide array of economic research pursuits.

Meet Economics PhD Students

PhD Job Market Candidates

Check out our impressive Economics PhD job market candidates.

Meet Economics PhD Job Market Candidates

Faculty-Student Interaction

The Department encourages extensive faculty-student interaction by maintaining a relatively small doctoral program, by selecting students whose interests are consistent with our faculty members' research, and by requiring students to engage with faculty in the course of writing second- and third-year research papers.

This faculty-student interaction generally leads to productive research collaborations: nearly every student who has received a PhD in the Department has written articles jointly with one or more of the department's faculty members.

Student Awards

Nsf doctoral dissertation grant ($5,000- 25,000).

Jeong Yeol Kim (2022-2023) Jay Dhar (2021-2022) Katherine Hauck (2021-2022) Laura Taylor (2021-2022) Chase Eck (2020-2021) Wenhao Wu (2018-2019) Erin McGuire (2015-2017) Keith Meyers (2016-2017) Collin Weigel (2013-2014) Theresa Gutberlet (2012-2013) Taylor Jaworski (2012-2013)

Washington Center for Equitable Growth Dissertation Grant ($15,000)

Shariq Mohammed (2017-2018) Mariana Zerpa (2015-2016)

Russell Sage Behavioral Economics Small Grant ($4,500)

Shariq Mohammed (2017-2018)

UA Graduate and Professional Student Council Research Grant (up to $2,000)

Abbie Boatwright (2022-2023) Wint Thu (2022-2023) Tianyi Li (2022-2023) Shuya He (2020-2021) Elaine Rhee (2020-2021) Austin Drukker (2020-2021) Katherine Hauck (2020-2021) Chase Eck (2019-2020) Elaine Rhee (2019-2020) Elaine Rhee (2018-2019) Kelli Marquardt (2018-2019) Wenhao Wu (2018-2019) Phuong Ho (2017-2018) Sean Inoue (2017-2018) Stephen Roberts (2015-2016) Mariana Zerpa (2015-2016) Anatolii Kokoza (2015-2016) Quyen Nguyen (2015-2016) Sebastian Fleitas (2014-2015)

Other Grants, Fellowships, Scholarships and Awards

This list is not meant to be all inclusive but instead is an example of some other grants and fellowships our students have been awarded since 2013.

American Society of Health Economists Diversity Scholarship EK Green (2022)

Antitrust Writing Awards Winner: Student Articles, Readers' Choice Jeong Yeol Kim (2023)

Arizona Board of Regents Doctoral Research Grant ($5,000) Shane Thompson (2013)

Center for Management Innovations in Healthcare ($5,000) Chase Eck (2019-2020)

Dwight David Eisenhower Transportation Fellowship Program (DDETFP) Graduate Fellowship ($5,000) Austin Drukker (2023)

Eller Diversity, Equity, and Inclusion Award EK Green (2022)

Economics History Association Exploratory Travel Grant Katherine Hauck (2020-2021) Cong Liu (2013-2014) Soudeh Mirghasemi (2013-2014) Taylor Jaworski (2012-2013)

Economics History Ken Sokoloff Dissertation Fellowship ($15,000-$17,500) Katherine Hauck (2020-2021) Laura Davidoff Taylor (2018-2019) Theresa Gutberlet (2012-2013) 

Graduate Professional Student Council Travel Grant (Up to $1,500)* Carolina Vera (2023) Austin Drukker/Jeong Yeol Kim, Joint (2023) Jeong Yeol Kim (2022-2023) Abbie Boatwright (2022-2023) Austin Drukker/Jeong Yeol Kim, Joint (2022) Tianyi Li (2022-2023) Katherine Hauck Elaine Rhee *This list only reflects travel grants from 2022 forward.

Institute for Humane Studies at George Mason Conference and Research Grant Kyle Wilson (2014-2015)

McGuire Small Research Grant Award for the 2013-14 year: Doctoral Awards ($2,500) Erin McGuire (2017-2018) Taylor Jaworski (2013-2014) Jianjing Lin (2013-2014)

National Institute for Transportation and Communities Dissertation Fellowship ($15,000) Austin Drukker (2022-2023)

National Institute for Transportation and Communities Student Scholar Award (($4,541) Abbie Boatwright (2022-2023)

NET Institute Summer Grant ($3,000) Wei Zhou (2020) Kyle Wilson (2015)

Start Your Journey to the Top of Your Field

Small class sizes. A great faculty-to-doctoral-student ratio. Incredible research resources. A stellar track record. And you.

Contact us with any questions , or if you're ready to apply to the Eller Doctoral Program in Economics, start your application below. We look forward to making breakthroughs together.

New economics master’s degree delivers analytical, career-focused skill set

Students can now earn a STEM-designated Master of Science

McCord Hall is home to several master's programs within the W. P. Carey School of Business. ASU photo

The W. P. Carey School of Business at Arizona State University has launched a new Master of Science in Economics (MS-Econ) program. The new degree is now accepting applications for the fall 2025 semester.

The MS-Econ degree program is designed to provide graduate students with a quantitative economics toolkit and the perspectives for economic decision-making. Through the program, students will:

• Gain an in-depth understanding of economic theory and how it can be applied to real-world problems.
• Develop advanced data and econometric analysis, critical thinking and tool-based skills that are highly transferable and valued by employers.
• Get ready for careers in data analysis, policy, consulting, government agencies, research organizations and more.

Alejandro Manelli , chair and JPMorgan Chase Professor in Economics, sees the new program as an opportunity for students to enhance their business acumen. 

"An understanding of economic data and decision-making, which students will gain through the program, sets students up for success across industries," Manellis said.

The master’s degree in economics from ASU is recognized by the U.S. Immigration and Customs Enforcement agency as a STEM-certified degree program. The STEM designation allows eligible graduates with student visas access to an Optional Practical Training, or OPT, extension, up to 36 months, compared with 12 months for non-STEM degrees.

“This program is customizable and career-oriented, providing ample opportunities for students to grow in the areas where they are most interested while gaining valuable job skills,” said  Kate Eaton , associate dean of graduate programs and clinical professor of marketing.

The W. P. Carey Department of Economics is ranked No. 25 in the world by ShanghaiRanking’s 2022 Global Ranking of Academic Subjects, and ASU is ranked No. 35 globally for Best Universities for Economics and Business by U.S. News and World Report.

“Our competitive MS-Econ program will provide foundational career skills in innovative classroom settings with distinguished faculty,” said  Ohad Kadan , Charles J. Robel Dean and W. P. Carey Distinguished Chair. “The addition of the MS-Econ degree to our expansive list of graduate programs responds to the growing student and employer needs for advanced analytical skills to solve a broad array of challenges in economics, business and other disciplines."

Offered on the ASU Tempe campus, the economics master’s degree consists of core courses — including two quarters with six courses in microeconomics, macroeconomics, and data science and econometrics — followed by two quarters of electives and a final project, during which students can partner with a corporation with a local presence or the  L. William Seidman Research Institute . There is also an optional math boot camp before the program starts.

Learn more about the new degree at  wpcarey.asu.edu/masters-programs/economics .

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Population Health, PhD

• Program description
• At a glance
• Degree requirements
• Admission requirements
• Tuition information
• Application deadlines
• Career opportunities
• Contact information

Analytics, Community, Data Science, Environmental Health Science, Epidemiology, Equity, Health Administration, Health Care, Healthcare, Policy, Public Health, Research, ethics, healthcare administration

Embark on a research career with a profound impact on the health of communities and populations. Tailor your academic experience to conduct research in close collaboration with the communities you aim to help.

The PhD in population health brings together multiple disciplines, illustrating the complex factors that affect the health and well-being of populations.

The program addresses the interaction between health systems and other sectors of society --- including the private sector, government, nonprofit and academia --- to affect the health outcomes of entire populations.

Students personalize their program of study by completing courses from one of four tracks:

• complex adaptive systems: teaches students about theory, principles, models and techniques used to analyze complex systems and data as applied to population health
• dissemination and implementation science: trains students to identify, translate and implement research that will enable rapid dissemination of evidence
• health equity: trains doctoral students to conduct empathetic research, incorporating the lived experience of populations vulnerable to health disparities into applied research
• health services research and policy: enables students to examine access to and use of health care services, costs, quality and safety of care, health care delivery models, organization, financing, and outcomes of health care
• urban environments for health: prepares students to meet challenges from an evidence-based and transdisciplinary environmental perspective

Required courses reinforce a strong repertoire of systems science, quantitative and qualitative research methods, ethics, epidemiology and biostatistics. The practicum offers an applied experience, and the dissertation requires novel research on population health.

• College/school: College of Health Solutions
• Location: Downtown Phoenix
• STEM-OPT extension eligible: No

84 credit hours, a written comprehensive exam, an oral comprehensive exam, a prospectus and a dissertation - Complex Adaptive Systems Track, or 84 credit hours, a written comprehensive exam, an oral comprehensive exam, a prospectus and a dissertation - Dissemination and Implementation Science Track, or 84 credit hours, a written comprehensive exam, an oral comprehensive exam, a prospectus and a dissertation - Health Equity Track, or 84 credit hours, a written comprehensive exam, an oral comprehensive exam, a prospectus and a dissertation - Health Services Research and Policy Track, or 84 credit hours, a written comprehensive exam, an oral comprehensive exam, a prospectus and a dissertation - Urban Environments for Health Track

Required Core (15 credit hours) BMI 515 Applied Biostatistics in Medicine and Informatics (3) EXW 645 Advanced Applied Methods and Data Analysis (3) POP 605 Population Health Systems Science and Theory (3) POP 633 Population Health Ethics (3) POP 641 Qualitative Research Methods (3)

Track (15 credit hours)

Electives (30 credit hours)

Research (6 credit hours) EXW 700 Research Methods (3) EXW 701 Scientific Grant Writing (3)

Other Requirement (6 credit hours) POP 591 Seminar: Evaluating the Population Health Literature (3) POP 780 Population Health Practicum (3)

Culminating Experience (12 credit hours) POP 799 Dissertation (12)

Additional Curriculum Information Students select from tracks in complex adaptive systems, dissemination and implementation science, health equity, health services research and policy, or urban environments for health.

Students entering the doctoral program with a master's degree in a related discipline may count up to 30 credit hours from the master's degree toward the total credit hours, with program approval.

Applicants must fulfill the requirements of both the Graduate College and the College of Health Solutions.

Applicants are eligible to apply to the program if they have earned a bachelor's or a master's degree in any field from a regionally accredited institution. Preference is given to applicants who completed a data-based research thesis during their master's degree program.

Applicants must have a minimum cumulative GPA of 3.00 (scale is 4.00 = "A") in the last 60 hours of their first bachelor's degree program, or applicants must have a minimum cumulative GPA of 3.00 (scale is 4.00 = "A") in an applicable master's degree program.

All applicants must submit:

• graduate admission application and application fee
• official transcripts
• personal statement
• resume or curriculum vitae
• three references (academic or professional)
• writing sample (6 to 10 pages)
• oral interview (via videoconference)
• proof of English proficiency

Additional Application Information An applicant whose native language is not English must provide proof of English proficiency regardless of their current residency.

All applicants must have completed an undergraduate or graduate-level course in epidemiology (e.g., EXW 642, HEP 444, or NTR 557) and a graduate-level research statistics course (e.g., EXW 501 or NTR 502).

It is expected that students admitted to the program have documented academic training and a strong interest in public health, health care or population health. Thus, depending on the student's academic training, background, scholarly interests and focus area, they may be asked to take course deficiencies prior to or concurrently with graduate course enrollment.

The personal statement should indicate research or scholarly interest, primary program area, statement of career goals and the name of one or more potential faculty mentors. Applicants are strongly encouraged to contact one or more possible mentors to discuss their research interests prior to submitting their application.

Contact information for three references is required. References will be contacted via email to submit a letter of recommendation and respond to a series of questions about the applicant. References must be academic or professional sources who are familiar with the applicant's potential to be successful in the field of population health.

Students are strongly encouraged to pursue postdoctoral research opportunities upon graduation.

Graduates of this interdisciplinary program are prepared to become:

• executives or analysts in private industry, such as health IT startups or medical device, biotechnology, health insurance or health care delivery organizations
• faculty at research-intensive universities in schools of population health, public health, medicine or health sciences
• leaders and directors of health in local, state and federal government agencies
• program directors and officers for global health organizations, such as the World Health Organization or the World Bank
• program directors and officers of local and national nongovernmental foundations such as the American Cancer Society or the American Diabetes Association
• research or policy analysts at federal health agencies, such as the National Institutes of Health or the Centers for Disease Control and Prevention

Career examples include:

• entrepreneur
• epidemiologist
• global health professional
• health information manager or director
• health scientist
• population health analyst or manager
• postsecondary public health teacher
• public health consultant or policy advisor
• research scientist

College of Health Solutions | HLTHN 401 [email protected] 602-496-3300

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Researchers Urge Closing Outdated Water Rule to Aid Colorado River Crisis

By McGregor McCance

Researchers investigating the historic stresses of the American West’s water supply have identified a simple solution that could put parts of the Colorado River Basin on a more sustainable path.

In a new paper published today , a consortium of scientists and water experts including University of Virginia Darden School of Business Professor Peter Debaere recommend that closing Colorado’s “free river conditions” loophole would serve as a key initial step to reducing water stress in the region.

“Closing this loophole in Colorado’s water rights system could save millions of cubic meters of water and be the state’s modest contribution to solving water stress in the Colorado River Basin,” said Debaere, an expert in the economics of water and water markets.

In Colorado, when the river carries enough water to meet everyone’s needs, the “free river condition” allows anyone — regardless of whether they own water rights — to take as much water as they want from the river.

The new paper, “Closing Loopholes in Water Rights Systems to Save Water: The Colorado River Basin,” appears in the journal “Water Resources Research,” published by AGU, a global organization dedicated to Earth and space sciences. Debaere is part of a consortium that includes researchers from the UVA School of Engineering and Applied Science and other scientific and academic partners.

The 1,450-mile Colorado River is a lifeline for the American West. It quenches the thirst of 40 million people across seven states, more than 25 Native American tribes and parts of Mexico. It also irrigates some of the country’s most productive farmland and generates hydropower used across the region. The seven states using Colorado River water are divided into two groups: Upper Basin (Colorado, Wyoming, Utah, New Mexico) and Lower Basin (Arizona, Nevada, California).

But this vital resource is under threat: the amount of water flowing into the Colorado has been shrinking as rising temperatures have increased evaporation and reduced the snowpack that feeds the river. At the same time, demand from farms and cities has been rising.

That increasing stress on limited resources further highlights the problems associated with Colorado’s free river loophole.

Describing free river conditions as “an antiquated relic from when water was relatively abundant,” the paper suggests that the approach perpetuates the imbalanced supply and demand. That raises the likelihood that Lower Basin water users exercise a “compact call,” essentially charging that the Upper Basin is not ensuring the legally required amount of water. Such a maneuver could result in additional caps or restrictions on water use in the Upper Basin.

“Colorado can help avert this by closing its free river loophole,” the paper states.

The current challenges came to a head in mid-2022, when water levels in Lake Powell and Lake Mead, the two major reservoirs on the Colorado River, dropped so low that they threatened the intake of water for hydropower. The situation was dire enough for the Biden administration to step in.

Further progress proved difficult, however. California, Arizona and Nevada only agreed to major water cuts in exchange for federal funding. Fortunately, an unusually wet winter in 2022-2023 plus conservation efforts have eased the immediate crisis.

Government officials said Lake Powell and Lake Mead were still only at 37% capacity as of Aug. 15. In 2000, they were nearly full.

Within each state in the Upper and Lower Basins, water users like farms or cities have their own rights to a fixed amount of water, with earlier users having stronger claims.

During shortages, users with older water rights have priority. They receive their allocation first and can claim water from users with newer rights, who consequently receive reduced amounts or no water at all.

This long-standing system is increasingly under strain due to climate change. The strain is exacerbated by two factors: first, the river has been overallocated since the first Colorado River Compact was signed; and second, there is no explicit agreed-upon cap on water usage, Moreover, the system lacks a cap that could adjust to changing water availability.

The seven states are currently negotiating how to share the shrinking supply, as some current guidelines for how the basin will share water expire at the end of 2025.

“Finding a compromise among the seven states will be difficult but closing the free river condition could be a way in which Colorado might contribute to the process,” Debaere said.

During free river conditions in 2017 —and in spite of downstream water challenges and lowering reservoir levels, for example — water users diverted an estimated 108 million cubic meters more than their water rights allowed, according to the new paper. That’s water that could have been stored in Lake Powell.

Debaere said that while the annual excess water taken during free river conditions is significant but not exorbitant, closing this loophole is crucial for other reasons.

It would better define water rights and prevent withdrawals beyond legal limits. This is important for future reforms, such as capping overall water use or introducing programs to leave fields fallow. These efforts won’t work if unlimited water access is occasionally allowed.

Closing this loophole could also be Colorado’s contribution to easing water stress in the Colorado River Basin, especially as the seven basin states struggle to agree on reducing overall water use.

“Abolishing the free river condition will not only reduce water use but also prepare the water rights system for future reforms,” Debaere said.

In addition to Debaere, co-authors of the new paper represent organizations including: International Business School Suzhou, Xi’an Jiaotong-Liverpool University, Suzhou, China; B3 Insight, Denver; Department of Civil and Environmental Engineering, University of Wisconsin-Madison; Department of Civil, Construction and Environmental Engineering, University of Alabama; Department of Civil and Environmental Engineering, and Department of Systems and Information Engineering, University of Virginia; Sustainable Waters, Crozet, Va.

The University of Virginia Darden School of Business prepares responsible global leaders through unparalleled transformational learning experiences. Darden’s graduate degree programs (MBA, MSBA and Ph.D.) and Executive Education & Lifelong Learning programs offered by the Darden School Foundation set the stage for a lifetime of career advancement and impact. Darden’s top-ranked faculty, renowned for teaching excellence, inspires and shapes modern business leadership worldwide through research, thought leadership and business publishing. Darden has Grounds in Charlottesville, Virginia, and the Washington, D.C., area and a global community that includes 18,000 alumni in 90 countries. Darden was established in 1955 at the University of Virginia, a top public university founded by Thomas Jefferson in 1819 in Charlottesville, Virginia.

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News from the Columbia Climate School

Summer Highlights From Climate and Society Graduates

Columbia Climate School

As summer internships come to an end, graduates of the Columbia Climate School are heading out into the world to put their new skills and education into practice.

Students in the MA in Climate and Society program have spent the past 12 months learning about climate change and social science. Offered by the Climate School in partnership with the Columbia’s Graduate School of Arts and Sciences, the interdisciplinary graduate program trains professionals and academics to understand and address the impacts of climate variability and climate change on society and the environment.

Below, we share some summer highlights and future plans for four recent graduates.

María Martí Ramos (she/her) 

• Summer Position: Intern Advisor at Permanent Mission of the Dominican Republic to the United Nations in New York City.
• Sector: Sustainable Development / Global Policy
• Ramos is an international student with a Bachelor of Science in International Business from Northeastern University (2013)

Ramos served as an intern advisor for the Permanent Mission of the Dominican Republic to the United Nations in New York City. Throughout her internship, she attended U.N. meetings, assisted delegates, and gained insights into the Sustainable Development Goals (SDGs) and negotiation processes. During Sustainability Week, Ramos focused on topics such as sustainable infrastructure, clean energy, poverty eradication, mobility, and climate change mitigation and adaptation.

“I recently completed a four-month internship at the Permanent Mission of the Dominican Republic, where I attended meetings and negotiations related to all committees, but my primary focus was on the Committee of the Economy and the Environment. I was there for the closing of very important declarations, such as the Pact for the Future, and witnessed the negotiation processes,” says Ramos.

Grayson Sussman Squires (he/him)

• Summer Position: Summer Associate, New Markets Team at Apex Clean Energy
• Sector: Renewables (wind, solar and energy storage development)
• Squires is a domestic student with a B.A. in the College of Social Studies and Environmental Studies (2021)

Squires interned as a summer associate on the New Markets Team at Apex Clean Energy, focusing on the development of utility-scale renewable energy projects. His role involved originating new projects and conducting thorough due diligence to build a competitive and successful portfolio in wind, solar and energy storage. This experience has allowed Squires to achieve his goal of transitioning into the clean energy sector, contributing to the development of impactful renewable energy solutions.

“During my summer internship, I played a key role in identifying strategic, high-value sites for new utility-scale solar and wind projects. My responsibilities included conducting comprehensive due diligence to de-risk investment decisions, leveraging the hard skills I honed at Columbia—such as financial modeling, data analysis, GIS and energy systems analysis—to assess transmission capacity, market opportunities, financial feasibility and environmental risks,” Squires says. “My experiences at Apex and Columbia have been instrumental in preparing me for a career in clean energy investing and deployment.”

Fiona Flaherty (she/they)

• Summer Position: Sustainability Communications and Strategy Intern @ F1R THE GIRLS
• Sector: Communications/Sports Media
• Flaherty is a domestic student with a B.A. in Journalism and Mass Communications from Arizona State University (2023)

Flaherty served as a sustainability communications and strategy intern for F1R THE GIRLS, a Formula 1 podcast and media platform with a community of over 200K women. Flaherty supported the platform’s sustainability content strategy and development, including the research and development of F1R the Girls Media Sustainability Narrative Series pitch to F1. She contributed to educational content, podcast episodes, and research on ESG trends in motorsport, helping to embed sustainability into the platform’s media coverage. “Three months ago, I was hired to create a long-term sustainability communications strategy for F1R THE WORLD, our sustainability podcast. After months of expert interviews, gathering qualitative data at motorsport events, and creating experimental climate content (and leading a design sprint with our incredible leadership team!), I’m excited to promote the next evolution of our efforts: Planet Paddock ,” says Flaherty.

Meghan Russell (she/her)

• Summer Position: Graduate Consultant at NY Metropolitan Transportation Authority (MTA): Climate Sustainability Planning team // Project Title: Carbon finance for mass transit
• Sector: Climate Finance / Public Transportation
• Russell is an international student from South Africa with a BBusSci in Marketing & Economics (2017).

Alongside her team, Russell explored the potential for the MTA to develop carbon offsets as a revenue stream to fund projects that increase mass transit ridership and reduce emissions. She led research on carbon offsets, assessed demand, estimated potential revenue, and identified the best verification processes. This capstone contributed to advancing the MTA’s sustainability goals while investigating innovative funding strategies for future transit projects.

“This summer, I had the opportunity to lead an exciting capstone project in partnership with the Metropolitan Transportation Authority. My research team explored applications of carbon finance, recommending a framework for developing the first mass transit carbon offset project in the U.S. Now back in my home country of South Africa, I look forward to channeling my expertise in climate finance, focusing on developing solutions that drive climate action and energy access in underserved markets,” Russell says.

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Columbia Climate School has once again been selected as university partner for Climate Week NYC, an annual convening of climate leaders to drive the transition, speed up progress and champion change. Join us for events and follow our coverage .

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PhD program overview

The primary objective of the PhD program in finance at the W. P. Carey School of Business is to train students for careers as finance professors at major research universities. The program provides a challenging course of study in the most recent developments in both the theoretical and empirical aspects of financial economics. This course of study, along with work in economics and statistics, serves as preparation for understanding and critical analysis of current issues in finance.

PhD students work with a distinguished faculty that comprises one of the most productive research groups in the world. Recent surveys of research productivity rank the Department of Finance among the best in the world for research output in the top journals. Our faculty produces cutting-edge empirical research in the areas of equity markets, corporate finance, organization structure, international finance, financial institutions and asset pricing. The program is relatively small, so that faculty-student mentoring relationships are promoted and PhD students receive personal attention. The program seeks highly capable students with a strong academic background and preferably with work experience.

Admission to the PhD in Business Administration with a concentration in finance is granted to applicants who present convincing evidence of high-order analytical skills, intellectual curiosity and the ability to work independently in pursuing scholarly research. Applicants should possess the intellectual curiosity and discipline required for original inquiry. In addition to the general requirements of the ASU Graduate College, applicants must submit a resume, three letters of recommendation, scores from the Graduate Management Admission Test (GMAT) or the Graduate Record Exam (GRE), and a brief statement of their career objectives. While many of our accepted students have an MBA or M.S. in a business-related field, others have a background in another area, such as engineering, economics, mathematics, statistics, physics, etc.

Interested individuals will find it valuable to review the Information for Prospective Students found at the Graduate College site.

Inclusion at ASU

Arizona State University is deeply committed to positioning itself as one of the great new universities by seeking to build excellence, enhance access and have an impact on our community, state, nation and the world. To do that requires our faculty and staff to reflect the intellectual, ethnic and cultural diversity of our nation and world so that our students learn from the broadest perspectives, and we engage in the advancement of knowledge with the most inclusive understanding possible of the issues we are addressing through our scholarly activities.

We recognize that race and gender historically have been markers of diversity in institutions of higher education. However, at ASU, we believe that diversity includes additional categories such as socioeconomic background, religion, sexual orientation, gender identity, age, disability, veteran status, nationality and intellectual perspective.

Department of Finance Office: BAC 519 Phone: 480-965-3131 Fax: 480-965-8539 [email protected]