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The complete guide to getting into an economics PhD program

Back in May, Noah wrote about the amazingly good deal that is the PhD in economics. Why? Because:

• You get a job.
• You get autonomy.
• You get intellectual fulfillment.
• The risk is low.
• Unlike an MBA, law, or medical degree, you don’t have to worry about paying the sticker price for an econ PhD:  After the first year, most schools will give you teaching assistant positions that will pay for the next several years of graduate study, and some schools will take care of your tuition and expenses even in the first year. (See Miles’s companion post  for more about costs of graduate study and how econ PhD’s future earnings makes it worthwhile, even if you can’t get a full ride.)

Of course, such a good deal won’t last long now that the story is out, so you need to act fast! Since he wrote his post , Noah has received a large number of emails asking the obvious follow-up question: “How do I get into an econ PhD program?” And Miles has been asked the same thing many times by undergraduates and other students at the University of Michigan. So here, we present together our guide for how to break into the academic Elysium called Econ PhD Land:

(Note: This guide is mainly directed toward native English speakers, or those from countries whose graduate students are typically fluent in English, such as India and most European countries. Almost all highly-ranked graduate programs teach economics in English, and we find that students learn the subtle non-mathematical skills in economics better if English is second nature. If your nationality will make admissions committees wonder about your English skills, you can either get your bachelor’s degree at a—possibly foreign—college or university where almost all classes are taught in English, or you will have to compensate by being better on other dimensions. On the bright side, if you are a native English speaker, or from a country whose graduate students are typically fluent in English, you are already ahead in your quest to get into an economics PhD.)

Here is the not-very-surprising list of things that will help you get into a good econ PhD program:

• good grades, especially in whatever math and economics classes you take,
• a good score on the math GRE,
• some math classes and a statistics class on your transcript,
• research experience, and definitely at least one letter of recommendation from a researcher,
• a demonstrable interest in the field of economics.

Chances are, if you’re asking for advice, you probably feel unprepared in one of two ways. Either you don’t have a sterling math background, or you have quantitative skills but are new to the field of econ. Fortunately, we have advice for both types of applicant.

If you’re weak in math…

Fortunately, if you’re weak in math, we have good news:  Math is something you can learn . That may sound like a crazy claim to most Americans, who are raised to believe that math ability is in the genes. It may even sound like arrogance coming from two people who have never had to struggle with math. But we’ve both taught people math for many years, and we really believe that it’s true. Genes help a bit, but math is like a foreign language or a sport: effort will result in skill.

Here are the math classes you absolutely should take to get into a good econ program:

• Linear algebra
• Multivariable calculus

Here are the classes you should take, but can probably get away with studying on your own:

• Ordinary differential equations
• Real analysis

Linear algebra (matrices, vectors, and all that) is something that you’ll use all the time in econ, especially when doing work on a computer. Multivariable calculus also will be used a lot. And stats of course is absolutely key to almost everything economists do. Differential equations are something you will use once in a while. And real analysis—by far the hardest subject of the five—is something that you will probably never use in real econ research, but which the economics field has decided to use as a sort of general intelligence signaling device.

If you took some math classes but didn’t do very well, don’t worry.  Retake the classes . If you are worried about how that will look on your transcript, take the class the first time “off the books” at a different college (many community colleges have calculus classes) or online. Or if you have already gotten a bad grade, take it a second time off the books and then a third time for your transcript. If you work hard, every time you take the class you’ll do better. You will learn the math and be able to prove it by the grade you get. Not only will this help you get into an econ PhD program, once you get in, you’ll breeze through parts of grad school that would otherwise be agony.

Here’s another useful tip:  Get a book and study math on your own before taking the corresponding class for a grade. Reading math on your own is something you’re going to have to get used to doing in grad school anyway (especially during your dissertation!), so it’s good to get used to it now. Beyond course-related books, you can either pick up a subject-specific book (Miles learned much of his math from studying books in the Schaum’s outline series ), or get a “math for economists” book; regarding the latter, Miles recommends Mathematics for Economists  by Simon and Blume, while Noah swears by Mathematical Methods and Models for Economists  by de la Fuente. When you study on your own, the most important thing is to  work through a bunch of problems . That will give you practice for test-taking, and will be more interesting than just reading through derivations.

This will take some time, of course. That’s OK. That’s what summer is for (right?). If you’re late in your college career, you can always take a fifth year, do a gap year, etc.

When you get to grad school, you will have to take an intensive math course called “math camp” that will take up a good part of your summer. For how to get through math camp itself, see this guide by Jérémie Cohen-Setton .

One more piece of advice for the math-challenged:  Be a research assistant on something non-mathy . There are lots of economists doing relatively simple empirical work that requires only some basic statistics knowledge and the ability to use software like Stata. There are more and more experimental economists around, who are always looking for research assistants. Go find a prof and get involved! (If you are still in high school or otherwise haven’t yet chosen a college, you might want to choose one where some of the professors do experiments and so need research assistants—something that is easy to figure out by studying professors’ websites carefully, or by asking about it when you visit the college.)

If you’re new to econ…

If you’re a disillusioned physicist, a bored biostatistician, or a neuroscientist looking to escape that evil  Principal Investigator, don’t worry:  An econ background is not necessary . A lot of the best economists started out in other fields, while a lot of undergrad econ majors are headed for MBAs or jobs in banks. Econ PhD programs know this. They will probably not mind if you have never taken an econ class.

That said, you may still want to  take an econ class , just to verify that you actually like the subject, to start thinking about econ, and to prepare yourself for the concepts you’ll encounter. If you feel like doing this, you can probably skip Econ 101 and 102, and head straight for an Intermediate Micro or Intermediate Macro class.

Another good thing is to  read through an econ textbook . Although economics at the PhD level is mostly about the math and statistics and computer modeling (hopefully getting back to the real world somewhere along the way when you do your own research), you may also want to get the flavor of the less mathy parts of economics from one of the well-written lower-level textbooks (either one by Paul Krugman and Robin Wells , Greg Mankiw , or Tyler Cowen and Alex Tabarrok ) and maybe one at a bit higher level as well, such as David Weil’s excellent book on economic growth ) or Varian’s Intermediate Microeconomics .

Remember to take a statistics class , if you haven’t already. Some technical fields don’t require statistics, so you may have missed this one. But to econ PhD programs, this will be a gaping hole in your resume. Go take stats!

One more thing you can do is research with an economist . Fortunately, economists are generally extremely welcoming to undergrad RAs from outside econ, who often bring extra skills. You’ll get great experience working with data if you don’t have it already. It’ll help you come up with some research ideas to put in your application essays. And of course you’ll get another all-important letter of recommendation.

And now for…

General tips for everyone

Here is the most important tip for everyone:  Don’t just apply to “top” schools . For some degrees—an MBA for example—people question whether it’s worthwhile to go to a non-top school. But for econ departments, there’s no question. Both Miles and Noah have marveled at the number of smart people working at non-top schools. That includes some well-known bloggers, by the way—Tyler Cowen teaches at George Mason University (ranked 64th ), Mark Thoma teaches at the University of Oregon (ranked 56th ), and Scott Sumner teaches at Bentley, for example. Additionally, a flood of new international students is expanding the supply of quality students. That means that the number of high-quality schools is increasing; tomorrow’s top 20 will be like today’s top 10, and tomorrow’s top 100 will be like today’s top 50.

Apply to schools outside of the top 20—any school in the top 100 is worth considering, especially if it is strong in areas you are interested in. If your classmates aren’t as elite as you would like, that just means that you will get more attention from the professors, who almost all came out of top programs themselves. When Noah said in his earlier post that econ PhD students are virtually guaranteed to get jobs in an econ-related field, that applied to schools far down in the ranking. Everyone participates in the legendary centrally managed econ job market . Very few people ever fall through the cracks.

Next—and this should go without saying— don’t be afraid to retake the GRE . If you want to get into a top 10 school, you probably need a perfect or near-perfect score on the math portion of the GRE. For schools lower down the rankings, a good GRE math score is still important. Fortunately, the GRE math section is relatively simple to study for—there are only a finite number of topics covered, and with a little work you can “overlearn” all of them, so you can do them even under time pressure and when you are nervous. In any case, you can keep retaking the test until you get a good score (especially if the early tries are practice tests from the GRE prep books and prep software), and then you’re OK!

Here’s one thing that may surprise you: Getting an econ master’s degree alone won’t help . Although master’s degrees in economics are common among international students who apply to econ PhD programs, American applicants do just fine without a master’s degree on their record. If you want that extra diploma, realize that once you are in a PhD program, you will get a master’s degree automatically after two years. And if you end up dropping out of the PhD program, that master’s degree will be worth more than a stand-alone master’s would. The one reason to get a master’s degree is if it can help you remedy a big deficiency in your record, say not having taken enough math or stats classes, not having taken any econ classes, or not having been able to get anyone whose name admissions committees would recognize to write you a letter of recommendation.

For getting into grad school, much more valuable than a master’s is a stint as a research assistant in the Federal Reserve System or at a think tank —though these days, such positions can often be as hard to get into as a PhD program!

Finally—and if you’re reading this, chances are you’re already doing this— read some econ blogs . (See Miles’s speculations about the future of the econ blogosphere here .) Econ blogs are no substitute for econ classes, but they’re a great complement. Blogs are good for picking up the lingo of academic economists, and learning to think like an economist. Don’t be afraid to  write  a blog either, even if no one ever reads it (you don’t have to be writing at the same level as Evan Soltas or Yichuan Wang );  you can still put it on your CV, or just practice writing down your thoughts. And when you write your dissertation, and do research later on in your career, you are going to have to think for yourself outside the context of a class . One way to practice thinking critically is by critiquing others’ blog posts, at least in your head.

Anyway, if you want to have intellectual stimulation and good work-life balance, and a near-guarantee of a well-paying job in your field of interest, an econ PhD could be just the thing for you. Don’t be scared of the math and the jargon. We’d love to have you.

Update:  Miles’s colleague Jeff Smith at the University of Michigan amplifies many of the things we say on his blog.  For a  complete  guide, be sure to see what Jeff has to say, too.

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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.   

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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• How to prepare for a PhD in Economics
• The key thing you need to know is that PhD programs in economics are highly mathematical and the mathematics required by both our Economics and Management Science degrees is not enough to get you into a top PhD program. To be a competitive applicant, you will need to take some upper division mathematics classes such as how to write proofs (Math 109), linear algebra (Math 102), real analysis (Math 140A or 142AB), probability (Math 180A) and statistics (Math 181AB).  See more below.
• Graduate schools care a lot about the difficulty and content of the classes you’ve taken. Getting a high GPA won’t necessarily get you into a good program unless they are the right classes.
• If you want to get into a top PhD program, it is especially important to take real analysis (Math 142AB or Math 140ABC—likely Math 140A is enough) and do well in the class. Real analysis teaches you how to write and understand proofs.  These skills will be important to your success in first-year graduate courses as well as in your research career.  Since real analysis tends to be a difficult course everywhere, your grade in this course is often taken as a key signal of your ability to succeed in a PhD program by admissions committees. If possible, try to take this course when you don’t have a lot of other commitments so that you can devote a significant amount of time to this course, learn the material well and get a good grade.
• Other upper division mathematics and statistics courses are also helpful. In particular, understanding linear algebra is important in graduate-level econometrics courses. Therefore, taking Math 18 and Math 102 (lower and upper division linear algebra courses) can give you a strong foundation in these topics.
• It is also important to have a strong foundation in statistics and probability theory. You will learn a lot of this in the econometrics sequence (if you are interested in pursuing graduate school, you should consider taking the honors classes 120AH-BH-CH). Another class to add to your statistics foundation would be a course in probability (Math 180A).
• In general, if you are interested in going to graduate school in Economics, you should seriously consider majoring in Joint Mathematics-Economics. This major will undoubtedly increase your workload, but it will both make you a more attractive applicant for graduate school and give you the mathematical foundation needed to succeed in graduate school. Students who took many math classes in while in high school should consider double majoring in math and economics.
• If you have exhausted your undergraduate opportunities to take classes in math and economics, consider taking a graduate class. Taking graduate courses in economics or mathematics can send a strong signal to admissions committees. This can be slightly risky, however. Undergraduates may be at a disadvantage as graduate students tend to form study groups for first year courses. If you decide to take a graduate course, you should plan on devoting A LOT of time to the course.  Again, it is extremely important that you to do well in a graduate class.
• Coding is an essential skill to have in graduate school. Therefore, taking courses with a data analysis and coding component (for example, Econ5/Poli5D: Introduction to Social Data Analytics, Econ 112: Macro Data Analysis and Econ 121: Applied Econometrics) can help develop your coding skills. The most popular statistical packages in economics are STATA, R, and MATLAB. If you have the time, it may also be a good idea to take an introduction to programming course from the computer science department.
• Courses that have a research component (Econ 191A-B and Econ 199) will also be invaluable preparation for graduate school. By developing your own research topic, you can learn about each step of the research process: from topic selection, background research, data management all the way to analysis and writing. Selecting an empirical topic is especially encouraged as it will give you valuable experience cleaning and analyzing data and getting more comfortable with various data analysis software. This might also be a good indication of whether a career in research is a good fit for you personally. Finally, the Professor teaching Econ 191AB will get to know you and how you tackle problems very well and so be able to write the kind of informed letter of recommendation that graduate schools like to see.

To summarize, in order to prepare for graduate school, it is extremely important to take the right courses and do well in them. To be competitive, you will need to have a record of performing well in difficult mathematics and economics courses.  

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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 .

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Profile Results 2021

By hallowedelegy April 15, 2021 in PhD in Economics

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Hallowedelegy.

As the cycle is mostly over for most people, starting this thread now. Some people have been interested in knowing whether some programs have shrunk their target cohort size, so if you have that information and are willing to share, please do!

Type of Undergrad:

Undergrad GPA:

Type of Grad:

Math Courses:

Econ Courses:

Other Courses:

Letters of Recommendation:

Research Experience:

Teaching Experience:

Research Interests:

Acceptances:

Rejections:

What would you have done differently?

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Share on other sites, impossibiity.

Type of Undergrad: No name school from third world country

Undergrad GPA: Low but high wrt to class

Type of Grad: Top Msc worldwide

Grad GPA: Above average but nothing special

Math Courses: Maths during Msc only

Econ Courses: PhD level Macro, Micro, Metrics, Game theory, Trade, Development. IO at Msc level

Letters of Recommendation: 2 top 5% Repec, 1 top 10% Repec

Research Experience: RA during the summer

Teaching Experience: Nothing

Research Interests: Micro

Acceptances: UMN, Caltech, Rochester, Queen's University, OSU, GWU

Waitlists: Nothing

Rejections: Bonn, JHU, Cornell, Duke, Brown, UMich, PSU, UWO, Zurich, LBS, Mcgill, Georgetown, Vanderbilt, WUSTL

Pending: Manheim

Maybe I could have got in lower top 10 like Columbia or Upenn or even NYU. Was too scared to apply

Happy April 15 folks, let's get started!

Type of Undergrad: Top 50 Public (Math Honors, Econ Honors, & Engineering)

Undergrad GPA: 3.56

Type of Grad: Top 20 Private (Applied Mathematics & Statistics)

Grad GPA: 3.91

GRE: 153 V, 170 Q, 3.5 W

Math Courses: Calculus I/II/III (A,B+,A), Real Analysis I/II (B+,A-), Linear Algebra I/II (B+,A), Differential Equation (A-), Group Theory (B), Stochastic Analysis (A-,A), Bayesian Statistics (A-), Mathematical Finance (A), Stochastic Methods in Finance (A-), Analysis of Algorithm (A+), Probability & Statistics I/II (A,A), Statistical Methods in Data Analysis I/II (A,A), Graduate Level Statistical Modeling (A-), Graduate Level Probability (A), Graduate Level Linear Algebra (A), Graduate Level Statistical Inference (A), Graduate Level Data Mining (A), Graduate Level Machine Learning (A), Graduate Level Deep Learning (A)

Econ Courses: Basic/Intermediate Micro (A+,A), Basic/Intermediate Macro (A+,A), Econometrics I/II (A+,A+), Corporate Finance (A), Investment (A), Risk & Uncertainty (A+), Statistical Methods in Economics (A+), Managerial Economics (A+), International Trade (A+), Asymmetric Information (A), Honor Thesis in Economics (A)

Letters of recommendation: Economics Honor Thesis Advisor, Statistics Research Advisor, Finance Professor whom I did projects & TA.

Research Experience: 2 year of Mathematics & Statistics Research as undergraduate, 1 year of Econometrics Research & Honor Thesis as undergraduate, 1 year of Statistics and Machine Learning Research as graduate student.

Teaching Experience: 1.5 years of Corporate Finance, 1 year of Probability, 1 semester of Generalized Linear Model, 1 semester of Introductory Statistics.

Research Interests: Econometrics and Machine Learning

Acceptances: University of Washington, University of British Columbia (MA), Columbia (MA)

Rejections: Stanford, MIT, Yale, Columbia, Chicago, Virginia, Toronto, University of British Columbia, UC Berkeley, UC San Diego, UC Davis, UC Irvine

Comments: Overall I think it was a tough cycle as everybody knows, was not expecting much after rejected by UC Irvine (since I thought it would be my safety school with great research fit); almost settled with UBC MA and reapply next cycle, but really grateful got an offer from UW with a great fit for my research interest.

Well, I found out that the information I found at Urch was very helpful and I only figured out about Urch after I finished submitting my application (where i started to realize I did something wrong with my application). I aimed too high and probably should've spread out more in the 20-50 range instead of top 20. I still feel really happy and grateful to get an offer in this difficult cycle. Good luck everyone!

We made it guys! Congrats to everyone on getting through this hellish admissions season.

Type of Undergrad: Low-ranked, small LAC, math and econ double major

Undergrad GPA: 3.95

GRE: 167V/169Q/5.5W

Math Courses: Calc I-III (A, A-, A), Prob and Stat I-II (A,A), Topology (A), Linear Algebra (A), Mathematical Modeling (A), Abstract Algebra (A), Differential Eq (A), Intro to Proofs (B+)

Econ Courses: Intermediate macro and micro, environmental, econometrics, history of economic thought, game theory, political economy of Africa, senior research seminar, independent research course

Other Courses: object oriented programming with Java

Letters of Recommendation: From three econ professors, I think they were exceptionally strong (one of the few advantages of having gone to a small, low ranked school)

Research Experience: two independent research projects for credit, part time work as undergrad RA to professor’s consulting practice, two years public sector research since undergrad

Research Interests: labor, macro

SOP: Normal

Acceptances: University of Illinois Chicago, Tulane, Rice, Johns Hopkins (off of waitlist)

Waitlists: UC Irvine and WUSTL (I removed myself from both of these), Pittsburgh (was rejected off the waitlist; they filled up quick)

Rejections: Maryland, Minnesota, U Penn, Georgetown, Vanderbilt

Pending : UNC (I assume a rejection but they're weird lol)

Attending: Johns Hopkins

Comments: Tough year. I applied two years ago, I got some offers but for personal reasons decided to work for two years before reapplying this cycle. Obviously I had no idea how tough that would be; last time I had an offer from Pittsburgh and a waitlist from Maryland, so not getting either this time around stung a little bit. On the other hand, I was rejected outright by Hopkins last time and got an offer this time. Overall, considering where I went to undergrad and other weaknesses in my background, I am very happy with my outcome and excited to start my program.

I realized that I was interested in this path pretty late, and so there are things that I wish I’d done differently when I was younger, but I don’t think there’s anything I could have done differently in my applications.

PROFILE : Chinese national with US undergrad with Math and Econ, Top 5 Econ RA

Type of Undergrad : top 30-40 US News Private with a relatively weak(ranked below 60/70, relatively weak publication-wise but teaching is very good) Econ Dept

Undergrad GPA : 3.81, Econ 3.91, Math 3.96

Type of Grad : None

Grad GPA : None

GRE : 158+170+4.5

Math Courses : linear algebra, calculus I II III, abstract algebra, probability and stats, undergrad real analysis I II, undergrad topology, complex analysis, stochastic processes, PhD real analysis, PhD Topology I, all A/A+ except phd analysis

Econ Courses : normal stuff, with PhD Micro I at Undergrad, all A/A+ except A- in intro micro(never went to class in freshman year) and Chinese Economy

Other Courses : python in business analytics

Letters of Recommendation : 1 joint letter from current PIs(both working on energy IO, 1 is top5% repec), 1 math PI from undergrad, 1 teaching/metrics class reference from undergrad

Research Experience : 1 year part time RA at undergrad with math PI(game theory), 2 year full time RA at top econ dept(energy IO); 1 senior thesis in game theory

Teaching Experience : 2 year econ TA(intro micro, undergrad metrics); 3 year math grader/TA/tutor(stats, calculus, linear algebra)

Research Interests : IO, currently working on Energy IO

SOP : boring stuff about previous exp, a somewhat doable research proposal, and not exactly tailored to each program(no pointing names in SOP), but has worked on it with my PIs since August

Other : applied 2 years ago to top 20 as undergrad, got all rejected; was somewhat confident seeing previous placements at my RA job, so had a relatively high expectation on mine as well; submit everything the weekend before thanksgiving

Acceptances : UT Austin, Maryland, BC, UBC

Waitlists : Northwestern, UCSD, Wisconsin, UC Davis, (BC, UBC)

Rejections : US News top 20 Dept except for Penn, UMN and Brown, BU, LSE, Toronto

Pending : None

Attending : Maryland

Comments : I was def a bit frustrated that I cannot go to top-ranked programs like my former and current colleagues, but it is what it is and I'm happy for them since they deserve it! And more importantly I'm happy now that I get to a good place with awesome faculty that fits my research focus.

From what Ive learnt from rejection letter or contact with depts, Wisconsin sent out around 90 offers to get a class size of 25-30; BC is targeting 12; UCSD is aiming for around 20?

I wish I had a better GPA, somehow gave programs some more tailored info on SOP, probably not taking a gap year before college so I would be in last year's market lol

Type of Undergrad: USNEWS ~ Top 75 US University (nontechnical major)

Undergrad GPA: 3.54

Type of Grad (1): USNEWS ~ Top 150 US University, Top 5 in my undergrad field (nontechnical major, withdrew early to study economics)

Grad GPA (1): 3.93

Type of Grad (2): USNEWS ~ Top 150 US University, ~ Top 100 Econ (Non-degree undergrad courses for 1 year and an MA in Econ)

Grad GPA (2): 4.0

GRE: 158V, 166Q, 4.5AWA

Math Courses: None in formal undergrad.

• Undergrad: Calc I-III (A+/A+/A), Probability and Statistics (A), Differential Equations (A), Linear Algebra (A+), Analysis (A)
• Grad: Math Analysis I/II (A, TBA), Linear Algebra (TBA), Stochastic Processes (A+), Probability Theory (A)
• Undergrad: Principles of Micro/Macro (A+/A), Intermediate Micro/Macro (A+/A+), Econometrics (A)
• Grad: Math for Econ (A), Micro I-II (A/A), Macro I-II (A/A), Econometrics I-III (A+/A/TBA)

Other Courses: A basic CS course (A)

Letters of Recommendation: I had four letters, all from current professors at my institution. Likely fairly strong, but I am not a mind reader.

Teaching Experience: Lots of TA experience (mainly in undergrad/grad macro and metrics).

Research Interests: Macroeconomics and Econometrics, perhaps Empirical IO, all broadly speaking

SOP: I explained my unorthodox background, why I want to become an economist, my coursework and RA experiences, and what I'm interested in researching. I adjusted it slightly for each school.

Other: RA for two professors at my MA university, currently coauthoring with them.

Acceptances: Penn State ($), Michigan State ($), my current university ($)

Waitlists: CMU (probably unofficial, withdrew)

Rejections: Chicago, Michigan, Minnesota, Wisconsin, UCSD, NYU, Columbia, Penn, Brown, Cornell, UT, WUSTL

Pending: Washington (withdrew), Rochester (withdrew)

Attending: Penn State

Comments: My professors told me to target schools between ~8-30 in the rankings. I'm not sure if we overshot a bit, especially given the craziness this year and my weird profile. But all in all, I'm quite satisfied with the outcome - I honestly didn't think I'd get accepted anywhere. I also withheld a bit of information on my previous studies for personal privacy.

Type of Undergrad: Top 10 LAC, but with little econ research activity.

Undergrad GPA: 3.63

Type of Grad: n/a

Grad GPA: ​ n/a

GRE: 165V / 167Q / 5.5 AW

Math Courses: Calc III ©, Linear Algebra (A), Real Analysis I (A), Real Analysis II (A), Real Analysis III (A), ODEs (A-), Prob (A), Math Stats (A)

Econ Courses: Way too many at the undergrad level. All As

Letters of Recommendation: No one remotely famous, but 2 from highly productive researchers who publish well at my predoc. The other from a LAC professor who knows me very well/went to a prestigious university.

Research Experience: Two senior theses (one being an applied micro paper for a poverty studies minor, no idea if anyone took this seriously). Two year predoc. One coauthored pub at a niche journal, another coauthored paper currently waiting on someone's desk at AER.

Teaching Experience: Nada.

Research Interests: Public, labor, tax-related items, and macro-labor. Will inevitably draw upon some I/O and more structural concepts.

SOP: Standard stuff. One IP tailored to each school. Feel good about my current research agenda.

Other: Upward trend in grades. Hoped that schools would ignore my first year grades.

Acceptances: UVA ($$), WUSTL ($$$), UMD

Waitlists: Northwestern

Rejections: UC-Berkeley, UCSD, Michigan, Wisconsin, Cornell, Duke, Minnesota, CMU, JHU, BC, UT-Austin, UC-Davis, UW, Vandy, UCSB, Rice, UC-Irvine, Georgetown, Georgia

Pending: UNC

Attending: UVA

Comments: Very difficult choice. Super excited to to continue to be a math nerd. All of my safeties rejecting me relatively early on (admittedly) frightened me, but I feel happy with my outcome.

There were pretty reasonable holes in my profile. There's no way to go back and tell my 18 year old self to perform better or to go to a school with an econ PhD program for my undergrad (this can hurt you). For future applicants, I'd strongly recommend starting applications *very* early. Try to have your SOP and letter writers together over the summer. Fill in most/all of the applications for each school in the first weeks that applictions are open, then iteratively edit everything. Doing this forces you to think about and be very aware of what schools are looking for. By the time application deadlines roll around and you have to submit, your applications should be drum tight and your final list of schools should be nailed down. I mostly filled out applications in the 2-3 weeks leading up to deadlines and noticed a significant improvement in my applications and their outcomes for those that I submitted later. I simply got better at writing these things as time went on. You want to put your best foot forward on *all* of your applications.

Otherwise, I'm happy that I applied to a ton of schools and wish that I stayed off grad cafe a little more.

Type of Undergrad : Physics degree from no name school in the UK

Undergrad GPA : High 2.1

Type of Grad : One year masters in economics from a decent school in Europe

Grad GPA : Above average

GRE : 165Q, 158V, 4.5W (didn't submit to most schools)

Math Courses : All courses in undergrad were math heavy

Econ Courses : None in undergrad, grad level micro/macro/econometrics in master's

Other Courses :

Letters of Recommendation : 2 from RA stint (well known professor at a top 5 school in the US, an AP at a top 15 school in the US), 1 from master's

Research Experience : 2 years RA at a research organization in a developing country

Teaching Experience : Econ dept math/statistics TA during master's

Research Interests : Development economics

SOP : Talked about transition to economics, the work I did as an RA

Acceptances : UC Davis ARE

Waitlists : Cornell AEM

Rejections : Columbia Sustainable Development, Berkeley ARE, UCSD, UCLA, Michigan, Maryland, UT Austin, UW Seattle, Duke, BU, BC, UBC

Attending :

Happy with my one acceptance but should've applied to econ programs outside the top 25, especially in such a competitive year.

guessandverify

Congrats everyone, these are great results.

My case is fairly unusual, so probably doesn't generalize well. (Essentially, I had to suddenly deal with a chronic disease during my undergrad. While I was getting medical care, had a tough time studying. But was fine afterwards.)

Type of Undergrad: Mid-tier American private university

Undergrad GPA: Less than 3.2

Type of Grad: N/A

Grad GPA: Very high (took some grad courses during predoc)

GRE: 170Q, 167V, 5.0W

Math Courses: Mix of grad and undergrad. Did very well in some (As in PhD topology sequence) and very poorly in others (F in analytic number theory)

Econ Courses: Mix of grad and undergrad. Same as above.

Other Courses: N/A

Letters: I think these were very strong

Research Experience: Some in undergrad, including NSF REU. 2 year predoc (not Top 5)

Teaching: N/A

SOP: I think this was fine. Mentioned some specific lines of inquiry/papers.

Other: Am coauthor on a working paper. Am not an under-represented minority. Strong software development background and intend to do computational work.

Acceptances: Rutgers, Simon Fraser, WUSTL (off waitlist), Carnegie Mellon, Virginia

Waitlists: Virginia (priority waitlist for 1st year funding)

Rejections: Cambridge, Oxford, Northwestern, Brown, Cornell, UT Austin, UC Santa Barbara, Boston College, Penn State, UBC

Pending: UNC Chapel Hill, Ohio State

Attending: Carnegie Mellon ( normal cohort size )

Not gotten sick during undergrad. I think conditional on that, I did more or less what I could.

Applying to a ton of schools was definitely the right call this year.

Type of Undergrad: T5 LAC

Undergrad GPA: 3.99/4.0 (4.0 in Math and Econ)

Grad GPA: N/A

GRE: 167V/169Q/6.0AW

Math Courses: Linear Algebra, Applied Topology, Real Analysis, Regression Analysis, Measure Theory & Probability, Differential Equations, Abstract Algebra, Indep. Study on Stochastic Calculus (measure-theoretic from Oksendal (2003)), Bayesian Statistics, Applied PDEs (covered functional analysis & numerical methods)

Econ Courses: Intermediate Micro, Intermediate Macro, Seminar in Theoretical Macrofinance, Game Theory, Adv. Econometrics (VARs, SVARs), Financial History, Indep. Study on Research in Continuous-Time Macrofinance, Seminar in Labor Economics, Honors Thesis

Other Courses : Intro to CS (Python), remaining courses were not quantitative or economics-related

Letters of Recommendation: (1) Undergrad advisor (2) Direct supervising economist at Fed (3) Joint letter from another Fed economist and a well-published tenured professor at a T10.

First two letter writers have sent multiple students to Top 5 schools in recent history and likely compared me to them as equally good or better. First letter is very strong b/c I am a co-author with them on 3 papers; they advised my thesis; and they have told me and others that they consider me "a co-author" rather than just a student. Second letter is nearly as strong as the first. Third letter is also strong b/c I worked extensively for them as an RA for a published paper and for an internal Fed briefing.

Research Experience

- 4 Papers w/ undergrad advisor: 1 under review at a T5 journal; 1 under review at low-ranked field; 3rd is work in progress; 4th is my senior thesis (may be re-written in the future); all 4 used continuous-time methods from Brunnermeier and Sannikov (2014)

- 2 Years at Fed: RA for a published paper in a journal like NBER Macro Annual, Brookings; co-author on working paper with a HANK model; co-author on 2 internal briefings

Teaching Experience: Undergrad TA for 6 math & econ courses (held TA sessions and graded problem sets). 2 most adv. courses were Measure Theory and Seminar on Theoretical Macrofinance

Research Interests : Macroeconomics, Finance (espc. Business Cycle Theory, Macrofinance, Applied Theory, Computational Methods)

SOP : I described my research experience in undergrad and postgrad. If there were faculty at the school whose research I've read and my SOP did not reach the word count yet, then I mentioned my interest in these faculty by citing papers I have read. I based my SOP off the SOPs of other successful RAs from the Fed at which I worked.

Other : I have contributions on GitHub to a couple open-sources packages in economics and applied math.

Acceptances: MIT (36k for years 1-2, 35k for years 3-5), Stanford (46k), UChicago (43k), Princeton (36k), UChicago Booth (43.5k for years 1-4, 36.5k for year 5, 33k for year 6), Harvard (from WL)

Withdrew application before hearing back: UCLA, UC Berkeley, Univ. of Rochester, LSE, Yale, Univ. of Minnesota, UPenn, Northwestern, NYU, NYU Stern (UCLA, Yale, and NYU Stern still issued me explicit rejections, so they may have evaluated my application anyway)

Waitlists : Stanford GSB Finance

Rejections: HBS (received an interview)

Attending: MIT

Comments: After my admission to Stanford in January, my direct supervisor at the Fed said that I ought to withdraw my application early from schools whose programs are strictly dominated by Stanford's (for macro, at least). This way, admissions committees at other schools could offer a spot to someone else rather than waste time on me if I almost surely was going to pick Stanford over them. After receiving admission from MIT, I turned down more schools.

On the business school interviews, while HBS's interview was a straightforward "talk to me about your research experience and interests" interview, both Stanford GSB and UChicago Booth asked more "complicated" questions like "Why choose our school?, "When was a time you encountered an adverse situation and how did you go about overcoming it? Did you come up with creative solutions to your problems?", and "Describe a time in which you had a disagreement with someone and how did you go about navigating the disagreement."

What would you have done differently? Nothing really. I'm happy to have done my 2 years at the Fed and learned a lot, even if it may not necessarily have been necessary to get into a top 5 program. I'm confident that there will be long term benefits from having done the predoc.

Type of Undergrad: The best program in my country, unknown in the USA, Economics

Undergrad GPA: 3.83

Type of Grad: MSc in Econ and MSc in Finance (not finished), the same institution as the undergraduate one

Grad GPA: 3.84

GRE: 154V/168Q/4.0AW

Math Courses: Real analysis, Calculus, Multivariable Calculus, Intro to Statistics, Theoretical Statistics,

Econ Courses : Microeconomics and Econometrics(graduate), intermediate micro and macro, Time Series Analysis, Financial Economics, International Finance, etc.

Letters of Recommendation: I had 4 letters - 1 senior professor from the top 5, 1 Associate Professor from the top 10, 2 professors from my master's and undergrad

Research Experience: 1 year RA + worked for 2 years at the central bank in my country

Teaching Experience: none

Research Interests: macroeconomics

SOP: Generic one, almost the same for every school

Acceptances: Northwestern,UC Berkeley, Wisconsin-Madison

Waitlists: UCSD, UMichigan

Rejections: MIT, Harvard, Stanford, UChicago, Princeton, Yale, NYU, Columbia, NYU Stern, Booth, HBS

Attending: Northwestern University

What would you have done differently? I would start preparing everything earlier, but I am still very satisfied with the outcome

Winnythepooh

Type of Undergrad: B.S. (Honors) Mathematics and Economics from the top 15 in US

Undergrad GPA: 4.0 (My school doesn't have A+)

Type of Grad : N/A

GRE: Q170 ,V157, AWA4.0

Math Courses Undergrad: Linear Algebra (A), Calculus I-III (A), Analysis I-II (A), Abstract Algebra I-II (A), Logic (A), Linear Optimization (A), Topology (A), Complex Analysis (A)

Math Courses Grad: Differentiable Manifolds (A), ODE (A), Two semesters of Ph.D. analysis sequence (both A), Measure-theoretic probability (A), Stochastic analysis (A), Modern discrete probability (A)

Econ Courses Undergrad: Intro to micro and macro (A), Intermediate micro (A), Intermediate macro (A), Econometrics (A), Game Theory (A), IO (A), Growth theory (A), Independent research (A), Honors thesis (IP)

Econ Courses Grad: Two semesters of Ph.D. micro sequence (both A), First semester of Ph.D. macro sequence (A), Advanced micro theory (A)

Other courses: Two programming classes in Java and Matlab

- Math Professor whom I did research with (Very strong - the best student he has ever had for 20 years)

- Assistant Professor from intermediate macro and growth theory classes (Strong)

- Well-known professor in micro sequence whom I did research with over the past summer (Strong)

- Two years of math research in dynamical systems with the first LOR writer (1 working paper & 1 in-progress)

- Math REU at U. Chicago over the past summer about optimal stopping time

- One semester of independent research class on matching theory

- Research on games in contracts with the third LOR writer over the past summer

- Honors thesis about search theory (I didn't have a strong relationship with my advisor, so I didn't have him writing a rec letter for me)

Teaching Experience: TA for analysis, combinatorics, and stochastic process classes

Research Interests: Microeconomic theory (Game Theory, Information economics)

SOP: How I can use my problem-solving skills from math competition to solve problems in economic theory and help my research in theory. I also make a connection between what I learn from math class and my potential research topic in the future.

Other information: IMO silver medalist for three years and Putnam top 50 for three years.

Acceptances: MIT ($$$), Princeton ($$$), UC-Berkeley ($$), Yale ($$$), Caltech ($$$), U. Penn ($), U. Michigan ($$$)

Waitlists: Northwestern, Harvard

Rejections: Stanford, Columbia, U. Chicago

Attending: MIT!

Comments: After I got the offer from MIT, I withdrew applications from many colleges (UCSD, UCLA, UW-Madison, U. Rochester, BU, BC, UT-Austin...Yes, I was so desperate that I would not get in any program, so I applied a lot). What I was concerned most about was that I did not let my thesis advisor write the letter (If you want to know why, see my previous forum: Profile Evaluation for 2021 and concerns about LOR (www.urch.com) ), so I was afraid this was a red flag to ad com showing that my thesis was bad. The first offer from MIT relieved me a lot! I was so glad that ad com didn't take it into account.

What would you have done differently? I am happy with my results so far. Maybe I should have done application materials earlier so that I didn't have to be stressed out during late November and December. I should have applied to fewer schools and save those money for travelling lol.

Type of Undergrad: Top 10 institution in my home country

Undergrad GPA: 3.8/4.0, Major in Econ, Minor in Math. I graduated a semester early

Type of Grad: the same institution as undergrad

Grad GPA: 3.93, M.S. in Econ (not finished yet)

GRE: V166/Q170/WA4.0

Math Courses: Calc1,2 , Multivariable Calc, Advanced Calc 1, Linear Algebra 1,2 ,Differential Equations, Real Analysis, Numerical Analysis, ect,. Mostly A+/A with two A-s and two B-s(Calc 1 and a computation class; had a hard time catching up on Calc 1, but I think it didn’t matter a lot in the end since I did well on more advanced courses )

Econ Courses: Usual undergrad/grad courses, all A+ except for a B+ on undergrad macro and A- on grad macro (macro is my weakness)

Other Courses: Several undergrad statistics courses, mostly A+ with one B+

Letters of Recommendation: I think they were strong/pretty decent at least (but who knows…)

Research Experience: Several short term R.A. for professors that I took courses in, 2 monthes research internship at a private finance research institution, two national research competition awards ( work published in conference proceedings)

Teaching Experience: T.A. for four undergrad courses

Research Interests: Microeconometrics(applied/theory)

SOP: Talked mainly about my experience working on the research projects that were awarded at the national competitions and how it motivated me to pursue doctoral studies.

Other: Alternate candidate for the Fulbright scholarship (will decline soon)

Acceptances: UT Austin($), TAMU(waitlisted for funding)

Waitlists: WUSTL(waitlist->rejection) , Wisconsin-Madison(waitlist->rejection), MSU (waitlist->decline), UC Irvine (radio silence, don’t know what happened)

Rejections: Yale, Northwestern, UCLA, Cornell, Duke, BC, U of Arizona, Purdue, Georgetown, USC, Rice(declined interview)

Attending: UT Austin

Comments: It really frustrated me how so many schools sent out their decisions in several rounds or kept a really long waitlist this year. I was super anxious for the past three months, got a bad insomnia and lost several pounds. I can’t say that I am attending my dream school, but I am happy and grateful that I can continue my studies at a solid department with professors that fit my research interests.

What would you have done differently? Nothing in terms of preparation, since I honestly tried my best. Maybe I should have applied to more schools in the top 5~30 range, since I ended up getting outright rejections from many lower ranked schools despite being at least waitlisted/ waiting for several rounds before being rejected from higher ranked programs. I felt that research fit plays an important role in the admission process, especially for students like me who has a specific/quite narrow field of interest.

Type of Undergrad: Top 5 Econ

Undergrad GPA : 3.3

Grad GPA : N/A

GRE : 168Q/166V/4.5W

Math Courses : Multivariable Calculus (P - took on pass/fail), Linear Algebra and Differential Equations ©, Intro to Stats ©, Intro to Stats retake under different course name (A-), Linear Algebra & Real Analysis I (A-), Real Analysis Convexity & Optimization (A-)

Econ Courses : Macro (C+), Micro (B+), Metrics (A-), Independent Research Seminar (A), Honors Thesis (A), Case Studies in Economic Development (A-), Poverty and Impact Evaluation (A-), Intro Econ (A)

Letters of Recommendation : (1) undergraduate thesis advisor, top economist in my field (2) pre-doc supervisor, top economist in my field (3) pre-doc supervisor, younger economist in my field

Research Experience : undergrad thesis, undergrad RA 3 semesters, pre-doc/full-time RA 3 years at top 5 universities

Teaching Experience : N/A

Research Interests : Development, environment, applied micro

SOP : tailored last paragraph mentioning school faculty members

Acceptances : UC Berkeley ARE, Duke Econ, Chicago Harris, U Maryland Econ, U Maryland Ag Econ, UCSB Econ, UC Davis Ag Econ, UC Santa Cruz Econ

Waitlists : HKS Public Policy (didn't see through til the end), Brown Econ (rejected), UCLA Econ (accepted)

Rejections : LSE Econ, Northwestern Econ, UCSD Econ, Chicago Booth Econ, Michigan PPol + Econ joint, Boston College Econ, Boston U Econ, Columbia Econ, NYU Econ

Attending : UC Berkeley ARE

What would you have done differently?: Obviously I would have gotten better grades in undergrad, or taken more courses after undergrad, and maybe applied to a few more higher ranked schools. But overall extremely happy with my results given my profile!

Type of Undergrad : top liberal arts college in my country, somewhat well known in the US

Undergrad GPA: 3.88

Type of Grad : T10

Grad GPA : 3.9

GRE : 170Q / 166V / 5.0AW

Math Courses : Linear Algebra (A), Math for econ I (A), Math for econ II (B+), real analysis I (A)

Econ Courses : Advanced micro (H), advanced macro (H), econometrics (multiple, all A/H), advanced development economics (H)

Letters of Recommendation : 1 from DGS at grad school who was also my thesis advisor, 2 Assistant Profs who are my current PIs.

Research Experience : 1.5 years of field and 1.5 years of data RA work

Teaching Experience : none

Research Interests : Development, political economy, gender

SOP : Surprised myself when I realized that my SOP had a very common theme aligned with my interests straight from undergrad. This was especially apparent in the kinds of research I've undertaken independently, as well as with my PIs. Also tailored SOP for the institutions, mentioned profs and their work that was relevant to my interests.

Acceptances : Berkeley ARE, UCSD, Georgetown, McGill, Bocconi, NYU, BU, HKS PPOL, UCL

Waitlists : Northwestern (eventually rejected), U-WM (and asked to be taken off)

Rejections : Cornell AEM, Yale & Columbia (both because they already had my GRE and application fee was waived, would not have applied otherwise), Brown, Michigan (econ+ppol), Duke ppol

Attending : HKS PPOL ( normal cohort size)

Comments : Fee waivers were my best friend during this process! I also wanted something slightly more multi-disciplinary and HKS was the best fit. I guess strategically going to an econ department would have made more sense. I was really looking for where I have good support systems and where I can stay slightly outside econ but still interact with some great economists! I also feel like I would end up outside of academia in 6+ years, but who knows.

What would you have done differently? Didn't have many math course options to take during undergrad, so can't even go back to my undergrad self and ask them to take more math! Definitely was a great decision to not do math in grad school and instead focus on fun courses, and do real analysis online later. Wasn't expecting most of the acceptances I got, so I'm pretty satisfied (including the months of application + refreshing grad cafe stress).

Type of Undergrad: Top 75 USWNR, Large State School

Undergrad GPA: 3.71

GRE: 167Q / 164V / 4.5

from undergrad: business calc I,II (A,A), Business stats (A);

After undergrad, through state school online: Calc I-III (A+,A+,A-), Linear Algebra (A+), Intro to Proofs (A+), Intro to Analysis (A), Stats (IP)

Econ Courses: Intro micro/macro (A,A,), Int Micro/macro (A,A), Environmental (A), Public (A), Comparative Systems (A), Intro Econometrics (B), Adv Econometrics (A), Game theory (B), a few seminar courses (all A's)

Other Courses: Nothing relevant

Letters of Recommendation: all from undergrad professors, all full/distinguished profs but not famous

Research Experience: Basically none, tried to tie my work experience to research but it's not really a research role

Teaching Experience: ​ some math tutoring, nothing else

Research Interests: Public/ Political economy/applied micro. Listed some potential research areas that are very niche but related to my work experience (4 years)

SOP: Pretty good I think, got some help from a relative on copy-editing. Tailored for each school as much as possible.

Acceptances: Clemson ($$$), UC Irvine (Off waitlist, $$), CU Boulder ($$$, off waitlist after 4/15)

Waitlists: UC Irvine (Accepted), CU Boulder (Accepted after 4/15), USC (rejected)

Rejections: Chicago Harris (had a fee waiver, otherwise wouldn't have tried), Duke, UCSD, UCSB, UVA, UMich, Vanderbilt, BU, UT Austin, Georgetown

Pending: Maryland, UNC (never heard back from either, obviously rejections)

Attending: UC Irvine

Comments: I knew I would be a controversial applicant given my lack of research experience and several years of work experience, plus starting from scratch on math at a less prestigious university (& online). Really hard to say if I would've placed higher in a normal year, I think my letter writers thought I would but they don't send students to PhD programs that often, so I think they were basing it on placements from 5-10 years ago who did much better. Different game now.

UCI has a reduced cohort this year, target was 12 compared to 20 in a normal year. Great research fit and seemingly super-positive environment. Very grateful they were willing to take a chance on me.

What would you have done differently? The classic answer is gotten into research earlier and started math courses earlier, and of course that's true, but I had other focuses and interests in undergrad and I wouldn't give up those experiences for anything. No regrets on the application side either, I applied to my undergrad feeling comfortable that they would accept me, and only wanted to go somewhere else if it was considerably higher ranked so I didn't apply to anything below top-50 besides my alma mater. I have a two-body problem with a partner in industry, and California is super far away so that sucks, but I avoided applying anywhere that was difficult to get to (penn state, michigan state, etc).

Dazedprospect

Type of Undergrad:Large state school

Undergrad GPA: 3.48 (econ and math are 3.9+)

Math Courses: Calc 1-3 (A), Intro to Proof Writing (A), Linear Algebra (A), Abstract Algebra (A), Real Analysis (A), First year econometrics (A-)

Econ Courses: Intro/Intermediate Micro Macro (A), Advanced Micro/Game Theory (A), Labor economics (A), Analysis of Asia (A), Research seminar (A), International Economics (A), Economics of sports (A), Intro Econometrics (A), Advanced Econometrics (A), probably more idk

Letters of Recommendation: (1) from research advisor who I wrote senior paper for and then RA'd for (2) advanced metrics prof (3) intro metrics prof

Research Experience: ~9mo

Teaching Experience: Year of TA for intro micro/macro

Research Interests: Development, labor, health

SOP: Pretty mediocre most likely, but good enough to not be thrown out

Acceptances: University of Washington, UT-Austin

Waitlists: University of Virginia (withdrew from WL)

Rejections: Maryland, Penn State, Rice, Wisconsin

Pending: UNC (probably rejection)

Attending: Washington

Comments: Hard cycle. Happy to have acceptances though. My cumulative GPA is low from my first year of college with irrelevant classes. Was on academic probation my first year, so it's pretty distorted by that. Grades after that are much better.

What would you have done differently? Generic answer of take more math early on, but truthfully I had no idea I would be down this path so what can ya do. I am also coming straight from undergrad so in hindsight I should've applied for RAships before applying. Also should've applied to more schools, especially this year. Lucky to have gotten anything applying so narrowly.

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Preparing for a PhD in Economics

The minimum requirements of the Economics undergraduate major are not designed to be training for doctoral economics programs. Students who plan to continue their education should take more quantitative courses than the minimum required for the major. Preparation should start early in your undergraduate education. In addition to the information below, we recommend visiting the Career Center and the Career Library for additional graduate school planning resources.

Students who plan on going on to graduate school should participate in research as an undergraduate, and plan on writing an honors thesis during their senior year. NOTE: For students who completed P/NP courses in 2020-2021, we recommend reviewing this statement from the Council of Deans which reaffirms UC Berkeley's Graduate Division committment to a holistic review.

Course recommendations

• Math 53 and Math 54 (multivariable calculus and linear algebra)
• Economics 101A-B, the quantitative theory sequence
• Economics 141, the more quantitative econometrics course
• Additional math and statistics courses (linear algebra, real analysis, probability, etc.)
• Additional economics courses that emphasize theory and quantitative methods, such as Economics 103, 104, and 142.

Upper-division math and statistics courses for those who are adequately prepared (in order of importance)

• Math 110, Linear Algebra
• Math 104, Introduction to Analysis
• Stat 134, Concepts of Probability
• Stat 150, Stochastic Processes
• Math 105, Second Course of Analysis
• Math 170, Mathematical Methods of Optimization
• Stat 102/Stat 135, Linear modeling Theory and Applications
• Stat 151A, Statistical Inference
• Math 185, Introduction to Complex Analysis

Graduate math and statistics courses for those who are adequately prepared (in order of importance)

• Math 202A/202B, Introduction to Topology
• Stat 200A/200B,Introduciton to Probability and Statistics at an Advanced Level; graduate version of 101/102 sequence, not much more difficult, but harder than 134/135
• Stat 205A/205B,Probability Theory; graduate probability, much higher level than 200A/200B

Please note: This is just a recommendation; not all courses are required. Admissions requirements vary by university and by program. Students interested in pursuing graduate school should begin gathering information from prospective programs as early as possible.

Post-Baccalaureate Research Opportunities

Pursuing research after completing an undegraduate degree is a great option for students who would like to gain more experience prior to graduate school. Post-baccalaureate research opportunities can be found through the  National Bureau of Economic Research (NBER)  and PREDOC: Pathways to Research and Doctoral Careers . For research opportunities outside of the NBER,  click here  and  follow @econ_ra  on Twitter.

Graduate School Preparation Additional Resources

http://www.aeaweb.org/resources/students/grad-prep/considerations/  (Considerations for prospective graduate students in Economics)

https://www.aeaweb.org/resources/students/schools/  (Alphabetical list of U.S Graduate Programs in Economics)

https://www.aeaweb.org/about-aea/committees/cswep/programs/resources/events2  (Conferences, events and fellowships through the American Economic Association)

https://www.aeaweb.org/about-aea/committees/aeasp (American Economic Association Summer Training Program, AEASP)

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

The best online PhD in Economics offers a broad, comprehensive knowledge of how economics affects the global landscape. An online program at the doctoral level in economics provides graduates with the advanced analytical and critical thinking skills they need to build successful careers in banking, government, politics, healthcare, insurance, and non-profit sectors.

If you are looking to get an online PhD in Economics, then this article is for you. This guide contains a list of the best schools you can earn your economics PhD online, their admission requirements and tuition, as well as the economics jobs you’ll qualify for after graduating from business school.

Find your bootcamp match

Can you get a phd in economics online.

Yes, you can get a PhD in Economics online. Online degree programs offer students the opportunity to earn an economics doctoral degree without the inconvenience of taking physical classes on the university campus. Online graduate programs are a great choice for students who are restricted by geographical location or who prefer to take online classes.

Is an Online PhD Respected?

Yes, an online PhD is respected. They have the same coursework, curriculum, and degree requirements as in-person degrees. A survey by the Society for Human Resources Management on hiring practices and attitudes reported that 55 percent of organizations would not give preference to a candidate with an in-person degree over one with an online degree if both had the same job experience.

That being said, students need to ensure that they get their online degrees from an accredited online school . Accreditation demonstrates that a school meets the minimum acceptable academic standards set by an external accreditation body to be able to offer academic degrees. Checking a school’s accreditation status before beginning the application process is recommended.

What Is the Best Online PhD Program in Economics?

The best online PhD program in economics is the PhD in Public Policy – Economic Policy offered by Liberty University. Out of all the online doctoral degree programs on our list, Liberty University’s PhD in Public Policy – Economic Policy’s high-quality curriculum and faculty stand out among the others.

Why Liberty University Has the Best Online PhD Program in Economics

Liberty University has the best online economics PhD program because of its well-rounded curriculum, giving students a comprehensive understanding of national and global public and economic policies. Students take classes taught by industry leaders and experienced policymakers and take high-level courses in public and economic theory and policy, policy analysis, and research design.

Best Online Master’s Degrees

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Online PhD in Economics Admission Requirements

The typical admission requirements for an online PhD in Economics are a Master’s Degree in Economics or in a related field from an accredited institution with a minimum cumulative GPA of 3.0 on a 4.0 scale. Other common requirements include recommendation letters, an interview, your resume, a statement of purpose or personal statement, and professional work experience.

While the specific requirements will differ from one school to the next, prospective students are always required to submit their unofficial or official transcripts of all of their undergraduate and graduate coursework. Although some schools have waived this due to the pandemic, many require students to submit GMAT or GRE test scores as part of the application process.

• A Master’s Degree in Economics or in a related field from an accredited institution
• A minimum cumulative GPA of 3.0 on a 4.0 scale
• Three letters of recommendation
• A copy of your resume
• A statement of purpose or personal statement
• Professional work experience
• Your GMAT or GRE test scores
• An online interview

Best Online PhDs in Economics: Top Degree Program Details

Best online phds in economics: top university programs to get a phd in economics online.

The top university programs to get a PhD in Economics online are able to let students benefit from experiencing diverse cultures and learning from a high-quality curriculum with many research opportunities without having to relocate. It is a great option for students who want to balance school with work, family, or other personal commitments. Here are the best online PhDs in Economics.

California Baptist University was founded in 1950 and is located in the city of Riverside in Southern California. This private, Christian university offers a wide variety of bachelor’s, master’s, doctoral and associate degrees , as well as certificate programs in an in-person and online format.

Doctor of Business Administration

The online Doctor of Business Administration at California Baptist University is a 56-credit-hour doctorate program that equips students with the specialized skills and insights needed to achieve their career goals. Students will gain the tools and theoretical foundation to carry out research and develop actionable plans with the goal of solving complex business problems.

Doctor of Business Administration Overview

• Accreditation: Western Association of Schools and Colleges Senior College and University Commission
• Program Length: 3 years
• Acceptance Rate: N/A
• Tuition and Fees: $795/credit 

Doctor of Business Administration Admission Requirements

• A Master’s Degree in Business Administration from an accredited institution
• A copy of your resume with your work experience and education, and your leadership, professional and scholarly activities
• Meeting the professional guidelines set by the Accreditation Council for Business Schools and Programs (ACBSP)
• Your official transcripts

Hampton University , founded in 1861, is a dynamic institution of higher learning offering a wide range of technical, liberal, and arts degree programs at all education levels. Its 97 degree programs can be found in different fields of study, including business, engineering and technology, nursing, pharmacy, science, and liberal arts.

Doctor of Philosophy in Business Administration

This is a 60-credit-hour program for students aspiring to become consultants, researchers, and academicians in leadership roles in the industry. It is a hybrid program with two compulsory four-week summer residencies. Students take core courses in managerial economics, quantitative business analysis, and accounting.

Doctor of Philosophy in Business Administration Overview

• Accreditation: Southern Association of Colleges and Schools Commission on Colleges
• Tuition and Fees: $695/credit 

Doctor of Philosophy in Business Administration Admission Requirements

• A master’s degree from an accredited institution. Prerequisite courses may have to be taken depending on the master’s degree held
• A copy of your resume with at least three years of work experience relevant to the field of study
• A GMAT score of at least 400
• A written Statement of Career Plans or Professional Plans
• Your official transcripts 

Liberty University was founded in 1971 in Lynchburg, Virginia and is a private, Christian college offering world-class education. It has a total enrollment of over 100,000 students across its over 700 programs at all educational levels, including doctoral programs. The majority of its students are enrolled in online courses, making it one of the largest distance learning institutions in the country.

PhD in Public Policy - Economic Policy

This is a 60-credit hour program for students wanting to learn how to better serve the public interest and create actionable solutions to today’s global economic challenges. It provides the specialized knowledge that students need to land leadership job roles in government, consulting, and international organizations.

PhD in Public Policy - Economic Policy Overview

• Accreditation: Southern Association of Colleges and Schools Commission on Colleges 
• Tuition and Fees: $595/credit 

PhD in Public Policy - Economic Policy Admission Requirements

• Complete and submit an online application form
• A master’s degree with a minimum GPA of 3.0 on a 4.0 scale
• Pay a non-refundable $50 application fee
• Submit your official undergraduate and graduate transcripts

Marymount University is a private catholic university founded in 1950. Ranked 38th among the best southern regional universities by US News & World Report, it has over 4,000 students enrolled in its wide range of bachelor’s, master’s, and doctoral degree programs. Marymount combines theory with experiential learning to provide its students with valuable education, leading them to gratifying careers.

Online Doctor of Business Administration in Business Intelligence

Offered by Marymount’s College of Business, Innovation, Leadership, and Technology, this 36-credit program introduces students to real-world business intelligence tools currently used by professionals in leadership positions. Students develop analytical, higher-order thinking, and research skills and work on a doctoral research project that attempts to solve real-world issues.

Online Doctor of Business Administration in Business Intelligence Overview

• Accreditation: Southern Associations of Colleges and Schools Commission on Colleges 
• Tuition and Fees: $1,140/credit 

Online Doctor of Business Administration in Business Intelligence Admission Requirements

• A completed online application
• A master’s degree in a business or IT related field
• Five to 10 years of work experience
• A minimum GPA of 3.5
• A statement of research background and interest
• A writing sample

Founded in 1947 and headquartered in College Park, Maryland, the University of Maryland - Global Campus (UMGC) is the online division of the University System of Maryland. UMGC first began offering online courses in the mid-1990s and is now home to a wide range of bachelor’s, master’s, and doctoral programs obtainable fully online.

PhD in Business Administration

This 48-credit program provides its students with a solid foundation in economic theory and statistical methods. Offering advanced courses in data analytics, management solutions, and research methods, this terminal degree requires the completion of a 12-credit dissertation project.

PhD in Business Administration Overview

• Accreditation: Middle States Commission on Higher Education
• Acceptance Rate: NA
• Tuition and Fees: $1,087/credit 

PhD in Business Administration Admission Requirements

• Completed the Foundation of Doctoral Studies course with a minimum B grade
• Completion of UMGC’s online admission application
• A master’s degree
• Two professional references
• A personal statement
• A writing sample (optional)
• An interview, if requested by the UMGC admission committee

Online Economics PhD Graduation Rates: How Hard Is It to Complete an Online PhD Program in Economics?

It is very hard to complete an online PhD in Economics. This can be attributed to the stress students experience, as well as lack of motivation. Those that want to pursue a PhD must be certain that they are academically and financially prepared.

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

It takes about three years to get a PhD in Economics online. Although, it can take as long as seven or eight years, depending on the school’s curriculum, learning pace, and specialization. Over these three years, students need to complete a certain number of courses, pass written or oral exams, and research and write a dissertation on their chosen research topic.

How Hard Is an Online Doctorate in Economics?

An online Doctorate in Economics is very hard. It is a broad, multidisciplinary degree that involves the study of complex business, sociology, mathematics, and accounting topics. Students in an online Doctoral Degree in Economics take advanced courses that require strong skills in critical thinking and complex mathematical models to succeed.

The overall level of difficulty of an online PhD in Economics depends on a student’s academic foundation and their chosen program’s curriculum. Programs offered at universities with a higher reputation or higher school ranking are usually more difficult. That being said, these programs will usually better prepare you for the real world and impress potential employers.

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Best PhD Programs

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What Courses Are in an Online Economics PhD Program?

An online economics PhD program includes courses such as Economic History, Economics and Public Policy, Policy Analysis and Research Design, Introduction to Economic Policy Studies, and Managerial Economics. These courses will prepare you for a long and lucrative career in the industry and equip you with the skills you need.

Main Areas of Study in an Economics PhD Program

• Economic history
• Economics and public policy
• Policy analysis and research design
• Introduction to economic policy studies
• Managerial economics

How Much Does Getting an Online Economics PhD Cost?

It costs around $19,314 per year to get an online PhD in Economics, according to the National  Center for Education Statistics. However, this is a ballpark estimate. The actual amount you will spend to get an online economics PhD largely depends on whether the school is public or private. On top of tuition costs, you also need to consider fees, study material costs, and other miscellaneous expenses.

How to Pay for an Online PhD Program in Economics

You can pay for an online PhD program in economics through an upfront payment, grants and scholarships, employer tuition reimbursement, government loans, and private loans. Students in the Peace Corps, AmeriCorps, and the US Military can also benefit from tuition reduction. For example, Liberty University offers their doctoral degree for $300 per credit for members of the military, which is an almost 50 percent discount.

How to Get an Online PhD for Free

You can’t get an online PhD for free. All legitimate PhD programs charge tuition, and there are no fully funded online PhDs in Economics. That being said, students needing financial aid can inquire about available scholarships and grants offered by their school. Online PhD students can register for the Free Application for Federal Scholarship Aid.

What Is the Most Affordable Online PhD in Economics Degree Program?

The most affordable online PhD in Economics is the PhD in Public Policy – Economic Policy offered by Liberty University. At $595 per credit, this 60-credit program costs a total of $35,700 in tuition. Compared to the most expensive program on our list, which costs approximately $52,000, you could save up to $16,300.

Most Affordable Online PhD Programs in Economics: In Brief

Why you should get an online phd in economics.

You should get an online PhD in Economics because it’ll provide you with specialized knowledge of economics and equip you with the in-demand skills you’ll need to work in leadership positions across the fields of politics, history, business administration, and finance. A PhD is the highest level of education you can get and will give you a leg up over other candidates during the hiring process.

Top Reasons for Getting a PhD in Economics

• Increased job opportunities. A PhD in Economics will make you more attractive to employers looking to fill high-level leadership positions in the industry. PhD graduates have more career options than lower-level degree holders.
• Enhanced earning potential. A PhD in Economics can improve your earning potential. The US Bureau of Labor Statistics reports that PhD holders have a median weekly salary of $1,885. This is higher than the salary for master’s and bachelor’s degree graduates.
• Higher employment rate. The skills and knowledge that economics doctoral degree holders have can qualify them for a wider range of positions. In fact, the US Bureau of Labor Statistics also reports that PhD holders have a higher employment rate than all other degree holders.
• Specialized skills. Getting a PhD will provide you with advanced technical skills in your field of study as well as transferable soft skills. Both of these hard and soft skills are things you need to succeed in the highest possible career after graduation.

Best Master’s Degree Programs

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What Is the Difference Between an On-Campus Economics PhD and an Online PhD in Economics?

The difference between an on-campus economics PhD and an online PhD in Economics is each program’s cost, flexibility, interactivity with faculty and fellow students, and availability of funding. While their course content and curricula may be alike, there are a few differences between an online economics PhD and an on-campus PhD in Economics.

Online PhD vs On-Campus PhD: Key Differences

• Cost. Online doctoral programs usually cost less than on-campus degrees. Not only is the tuition itself usually lower for an online program, but you’ll also avoid needing to pay additional fees related to transportation, student accommodation, and labs or study materials.
• Flexibility. Students in on-campus programs have to be physically present at specific times and locations on the school campus to take classes, while online PhD students can take their classes from the comfort of their homes. Many online courses are also asynchronous and can be taken when convenient.
• Interactivity. Students in an on-campus PhD program enjoy physical interaction with faculty and peers, which can help with learning and motivation. On the other hand, online students have to employ virtual platforms to contact faculty at scheduled times.
• Availability of funding. There are more funding opportunities for on-campus students than students in online programs. On-campus students usually have access to fellowships, teaching assistantships, and research assistantships.

How to Get a PhD in Economics Online: A Step-by-Step Guide

To get a PhD in Economics online, you need to gain admission into an accredited university, complete your course credit requirements, pass all examinations, get your dissertation project topic approved, research your dissertation topic, and defend what you wrote during the final stage of the dissertation process. Doctorate programs take a lot of work to complete, but knowing what to expect will help you prepare.

The first step you need to take to get a PhD in Economics online is to look for schools that offer the program and that offer the specific specialization that you want to study. Afterward, you should review each program’s admissions requirement for prospective students. Once you’ve gathered your application materials, you’re ready to apply to your desired doctorate degree programs.

All doctoral students need to complete a certain number of online courses. Some schools also have residency requirements. While these are less common for online programs, residencies do require in-person attendance. Make sure to review the delivery format of each of the doctoral programs you’re interested in before enrolling.

During your PhD program, you will have to pass certain examinations. These examinations are used by the faculty at graduate schools to track and gauge your progress and understanding of the course material. You won’t be able to graduate without passing your examinations.

As you complete your classes, you will also need to pick a dissertation topic and get it approved by the faculty. Your dissertation is a long-term research project that you must complete along the course of your PhD program. Make sure to pick a topic you’re interested in as it’ll make the research process much more enjoyable.

After getting your topic approved, you will be able to start your research, which you will work on either at the same time as or after your course requirements. You will be asked to demonstrate your progress to your dissertation supervisor many times during your studies. It’s typical for 12 of your required credits to be dedicated to your dissertation.

As you research your dissertation project, you will need to write a paper on your findings under the guidance, support, and supervision of your program’s faculty. Once you’ve completed your research and finished writing your paper, you will need to explain and defend your findings to your program’s faculty. Once you pass, you will be able to get your PhD.

Online PhD in Economics Salary and Job Outlook

Online economics PhD graduates can earn between $77,427 and $153,460 per year, depending on their job title, location, employer, and experience. An online PhD in Economics will provide you with the skillset needed to land high-paying roles in different sectors, including academia, business, finance, government, and politics.

What Can You Do With an Online Doctorate in Economics?

With an online Doctorate in Economics, you can become an economic consultant, postsecondary professor of economics, economist, financial manager, and financial analyst. Some of these roles are high-paying senior-level positions requiring applicants to hold a PhD.

Best Jobs with a PhD in Economics

• Economic Consultant
• Postsecondary Professor of Economics
• Financial Analyst
• Financial Manager

Potential Careers With an Economics Degree

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What Is the Average Salary for an Online PhD Holder in Economics?

The average salary for a PhD holder in Economics is $110,000 per year , according to PayScale. PhD graduates can qualify for a wide range of high-paying positions across many industries. Keep in mind that your actual annual salary can vary depending on factors such as location, years of experience, industry, and position.

Highest-Paying Economics Jobs for PhD Grads

Best economics jobs for online phd holders.

Knowing the best economics jobs for online PhD holders will help you decide whether or not it’s worth it for you to embark on the long journey of earning your PhD. In this section, we’ve  put together a list of the best economics jobs for online PhD holders, a description of what they do, their job outlook, the number of jobs, and the highest-paying states.

Financial managers coordinate banking, accounting, insurance, security, and other financial operations in an organization. Financial management includes ensuring good financial health, monitoring cash flow, managing an organization’s expenses, analyzing profitability, and providing accurate financial information.

• Salary with an Economics PhD: $131,710
• Job Outlook: 17% job growth from 2020 to 2030
• Number of Jobs: 681,070
• Highest-Paying States: New York, Delaware, New Jersey, Colorado, District of Columbia

Economists collect and analyze data to study the relationship between economic resources and the production and distribution of goods and services. They conduct surveys and review economic problems to find actionable solutions. They also advise businesses and organizations on economic issues.

• Salary with an Economics PhD: $105,630
• Job Outlook: 13% job growth from 2020 to 2030
• Number of Jobs: 18,600
• Highest-Paying States: New York, District of Columbia, California, New Hampshire, Illinois

Professors of economics teach in economics departments at a university. They prepare and deliver lectures, examinations, and curricula for undergraduate and graduate economics students. They also conduct research and publish their findings to contribute to the field of economics.

• Salary with an Economics PhD: $96,198
• Job Outlook: 12% growth from 2020 to 2030
• Number of Jobs: 1,276,900
• Highest-Paying States: New Hampshire, Montana, California, Indiana, District of Columbia

Financial analysts study current and past financial data and economic trends to gain a better understanding of a company’s financial health. They advise the organization on the best investments to make to help them maximize profits according to the data they’ve studied.

• Salary with an Economics PhD: $81,410
• Job Outlook: 6% job growth from 2020 to 2030
• Number of Jobs: 492,100
• Highest-Paying States: New York, Alaska, Connecticut, District of Columbia, Wyoming

Economic consultants develop plans to improve the policies and operations of the company they work for to increase their economic gains. They conduct surveys and create forecasts to discover economic trends to improve the company’s practices. They also work in the production, budgeting, and accounting department to optimize quality control practices.

• Salary with an Economics PhD: $77,427

Is It Worth It to Do a PhD in Economics Online?

Yes, it is worth it to do a PhD in Economics online because it allows you to get advanced education and expertise in economics from the comfort of your home while preparing you to land high-profile positions where you can make an impact on the world. Economics PhD graduates gain advanced knowledge in the theoretical foundations, methodology, and philosophy of economics.

Additional Reading About Economics

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Online PhD in Economics FAQ

Yes, you can do a PhD in Economics entirely at a distance. An increasing number of schools are beginning to offer completely online economics PhD programs for distance learners. Online degrees are respected by hiring managers as well and are considered as good as in-person degrees.

No, you can not get a PhD in Economics in one year. It usually takes a minimum of three years to complete the graduate degree requirements. This includes the credit requirements and dissertation paper.

Yes, it is possible to do a PhD in Economics without a master’s. Although the typical requirements for a PhD program include having an in-person or online Master’s Degree in Economics or relevant field from an accredited institution, some schools allow students to apply to their PhD program without one.

No, 50 is not too late to get a PhD. There is no age limit in the pursuit of higher education, and you can go back to college at 50 or at any time you want. Anyone can enroll in a PhD program regardless of age. All it takes is the willingness to learn and the determination to succeed. In fact, your work experience can help you get into a PhD program.

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The Economy of Everything

Why you need a phd in economics.

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How to Become an Economist: PhD Required

Earning a PhD in Economics means you have completed the highest level of education in the discipline, thereby creating nearly unlimited opportunities for any job in a related field. 

As a PhD economist, you'll have the skills to analyze real-world economic data with rigorous statistical techniques, critically assess the economic implications of public policy, and understand the complex relationships behind key macroeconomic variables like GDP growth, interest rates and inflation. 

The Department of Economics at SMU is highly ranked among economics departments in the United States and has prepared PhD candidates for careers as economists in both academic and non-academic positions for more than 55 years. 

If you want to become a PhD Economist, this guide will help you understand SMU's unique approach to the study of economics and prepare you to apply to our PhD program with confidence. 

We'll email you a PDF of the eBook for your reference as you apply to graduate school.

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What can i do with a phd in economics.

Economics PhDs often work in complex, high-profile positions in the corporate sector or government and frequently explore regulatory, strategic or public policies. Our resource expands on both the academic and non-academic career paths for PhD economists.

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Is a PhD in Economics Worth It?

Pursuing a PhD in economics is a big investment. Even though you will have a full tuition waiver and a stipend to cover your cost of living, you must also consider the cost of lost wages during your education. This guide will help you calculate the ROI of your PhD in Economics and determine if it's the right choice for you compared to a master's in economics. 

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The Complete Guide to Getting Into an Economics Ph.D. Program

Math challenged? Never taken an econ class? Don't worry about it. There's hope for you yet.

Back in May, Noah wrote about the amazingly good deal that is the PhD in economics. Why? Because:

• You get a job.
• You get autonomy.
• You get intellectual fulfillment.
• The risk is low.
• Unlike an MBA, law, or medical degree, you don't have to worry about paying the sticker price for an econ PhD: After the first year, most schools will give you teaching assistant positions that will pay for the next several years of graduate study, and some schools will take care of your tuition and expenses even in the first year.

Of course, such a good deal won't last long now that the story is out, so you need to act fast! Since he wrote his post , Noah has received a large number of emails asking the obvious follow-up question: "How do I get into an econ PhD program?" And Miles has been asked the same thing many times by undergraduates and other students at the University of Michigan. So here, we present together our guide for how to break into the academic Elysium called Econ Ph.D. Land:

(Note: This guide is mainly directed toward native English speakers, or those from countries whose graduate students are typically fluent in English, such as India and most European countries. Almost all highly ranked graduate programs teach economics in English, and we find that students learn the subtle non-mathematical skills in economics better if English is second nature. If your nationality will make admissions committees wonder about your English skills, you can either get your bachelor's degree at a -- possibly foreign -- college or university where almost all classes are taught in English, or you will have to compensate by being better on other dimensions. On the bright side, if you are a native English speaker, or from a country whose graduate students are typically fluent in English, you are already ahead in your quest to get into an economics Ph.D. program.)

Here is the not-very-surprising list of things that will help you get into a good econ Ph.D. program:

• good grades, especially in whatever math and economics classes you take,
• a good score on the math GRE,
• some math classes and a statistics class on your transcript,
• research experience, and definitely at least one letter of recommendation from a researcher,
• a demonstrable interest in the field of economics.

Chances are, if you're asking for advice, you probably feel unprepared in one of two ways. Either you don't have a sterling math background, or you have quantitative skills but are new to the field of econ. Fortunately, we have advice for both types of applicant.

If You're Weak in Math... Fortunately, if you're weak in math, we have good news: Math is something you can learn . That may sound like a crazy claim to most Americans, who are raised to believe that math ability is in the genes. It may even sound like arrogance coming from two people who have never had to struggle with math. But we've both taught people math for many years, and we really believe that it's true. Genes help a bit, but math is like a foreign language or a sport: effort will result in skill.

Here are the math classes you absolutely should take to get into a good econ program:

• Linear algebra
• Multivariable calculus

Here are the classes you should take, but can probably get away with studying on your own:

• Ordinary differential equations
• Real analysis

Linear algebra (matrices, vectors, and all that) is something that you'll use all the time in econ, especially when doing work on a computer. Multivariable calculus also will be used a lot. And stats of course is absolutely key to almost everything economists do. Differential equations are something you will use once in a while. And real analysis -- by far the hardest subject of the five -- is something that you will probably never use in real econ research, but which the economics field has decided to use as a sort of general intelligence signaling device.

If you took some math classes but didn't do very well, don't worry. Retake the classes. If you are worried about how that will look on your transcript, take the class the first time "off the books" at a different college (many community colleges have calculus classes) or online. Or if you have already gotten a bad grade, take it a second time off the books and then a third time for your transcript. If you work hard, every time you take the class you'll do better. You will learn the math and be able to prove it by the grade you get. Not only will this help you get into an econ Ph.D. program, once you get in, you'll breeze through parts of grad school that would otherwise be agony.

Here's another useful tip: Get a book and study math on your own before taking the corresponding class for a grade. Reading math on your own is something you're going to have to get used to doing in grad school anyway (especially during your dissertation!), so it's good to get used to it now. Beyond course-related books, you can either pick up a subject-specific book (Miles learned much of his math from studying books in the Schaum's outline series ), or get a "math for economists" book; regarding the latter, Miles recommends Mathematics for Economists by Simon and Blume, while Noah swears by Mathematical Methods and Models for Economists by de la Fuente. When you study on your own, the most important thing is to work through a bunch of problems . That will give you practice for test-taking, and will be more interesting than just reading through derivations.

This will take some time, of course. That's OK. That's what summer is for (right?). If you're late in your college career, you can always take a fifth year, do a gap year, etc.

When you get to grad school, you will have to take an intensive math course called "math camp" that will take up a good part of your summer. For how to get through math camp itself, see this guide by Jérémie Cohen-Setton .

One more piece of advice for the math-challenged: Be a research assistant on something non-mathy. There are lots of economists doing relatively simple empirical work that requires only some basic statistics knowledge and the ability to use software like Stata. There are more and more experimental economists around, who are always looking for research assistants. Go find a prof and get involved! (If you are still in high school or otherwise haven't yet chosen a college, you might want to choose one where some of the professors do experiments and so need research assistants -- something that is easy to figure out by studying professors' websites carefully, or by asking about it when you visit the college.)

If You're New to Econ... If you're a disillusioned physicist, a bored biostatistician, or a neuroscientist looking to escape that evil Principal Investigator, don't worry: An econ background is not necessary . A lot of the best economists started out in other fields, while a lot of undergrad econ majors are headed for MBAs or jobs in banks. Econ Ph.D. programs know this. They will probably not mind if you have never taken an econ class.

That said, you may still want to take an econ class, just to verify that you actually like the subject, to start thinking about econ, and to prepare yourself for the concepts you'll encounter. If you feel like doing this, you can probably skip Econ 101 and 102, and head straight for an Intermediate Micro or Intermediate Macro class.

Another good thing is to read through an econ textbook. Although economics at the Ph.D. level is mostly about the math and statistics and computer modeling (hopefully getting back to the real world somewhere along the way when you do your own research), you may also want to get the flavor of the less mathy parts of economics from one of the well-written lower-level textbooks (either one by Paul Krugman and Robin Wells , Greg Mankiw , or Tyler Cowen and Alex Tabarrok ) and maybe one at a bit higher level as well, such as David Weil's excellent book on economic growth ) or Varian's Intermediate Microeconomics .

Remember to take a statistics class, if you haven't already. Some technical fields don't require statistics, so you may have missed this one. But to econ Ph.D. programs, this will be a gaping hole in your resume. Go take stats!

One more thing you can do is research with an economist. Fortunately, economists are generally extremely welcoming to undergrad research assistants from outside econ, who often bring extra skills. You'll get great experience working with data if you don't have it already. It'll help you come up with some research ideas to put in your application essays. And of course, you'll get another all-important letter of recommendation.

And now for...

General Tips for Everyone Here is the most important tip for everyone: Don't just apply to "top" schools . For some degrees -- an MBA for example -- people question whether it's worthwhile to go to a non-top school. But for econ departments, there's no question. Both Miles and Noah have marveled at the number of smart people working at non-top schools. That includes some well-known bloggers, by the way--Tyler Cowen teaches at George Mason University (ranked 64th ), Mark Thoma teaches at the University of Oregon (ranked 56th ), and Scott Sumner teaches at Bentley, for example. Additionally, a flood of new international students is expanding the supply of quality students. That means that the number of high-quality schools is increasing; tomorrow's top 20 will be like today's top 10, and tomorrow's top 100 will be like today's top 50.

Apply to schools outside of the top 20 -- any school in the top 100 is worth considering, especially if it is strong in areas you are interested in. If your classmates aren't as elite as you would like, that just means that you will get more attention from the professors, who almost all came out of top programs themselves. When Noah said in his earlier post that econ Ph.D. students are virtually guaranteed to get jobs in an econ-related field, that applied to schools far down in the ranking. Everyone participates in the legendary centrally managed econ job market . Very few people ever fall through the cracks.

Next -- and this should go without saying -- don't be afraid to retake the GRE. If you want to get into a top 10 school, you probably need a perfect or near-perfect score on the math portion of the GRE. For schools lower down the rankings, a good GRE math score is still important. Fortunately, the GRE math section is relatively simple to study for -- there are only a finite number of topics covered, and with a little work you can "overlearn" all of them, so you can do them even under time pressure and when you are nervous. In any case, you can keep retaking the test until you get a good score (especially if the early tries are practice tests from the GRE prep books and prep software), and then you're OK!

Here's one thing that may surprise you: Getting an econ master's degree alone won't help. Although master's degrees in economics are common among international students who apply to econ PhD programs, American applicants do just fine without a master's degree on their record. If you want that extra diploma, realize that once you are in a PhD program, you will get a master's degree automatically after two years. And if you end up dropping out of the PhD program, that master's degree will be worth more than a stand-alone master's would.

For getting into grad school, much more valuable than a master's is a stint as a research assistant in the Federal Reserve System or at a think tank -- though these days, such positions can often be as hard to get into as a Ph.D. program!

Finally -- and if you're reading this, chances are you're already doing this -- read some econ blogs. (See Miles's speculations about the future of the econ blogosphere here .) Econ blogs are no substitute for econ classes, but they're a great complement. Blogs are good for picking up the lingo of academic economists, and learning to think like an economist. Don't be afraid to write a blog either, even if no one ever reads it (you don't have to be writing at the same level as Evan Soltas or Yichuan Wang ); you can still put it on your CV, or just practice writing down your thoughts. And when you write your dissertation, and do research later on in your career, you are going to have to think for yourself outside the context of a class. One way to practice thinking critically is by critiquing others' blog posts, at least in your head.

Anyway, if you want to have intellectual stimulation and good work-life balance, and a near-guarantee of a well-paying job in your field of interest, an econ PhD could be just the thing for you. Don't be scared of the math and the jargon. We'd love to have you.

DPhil in Economics

• Entry requirements
• Funding and costs

College preference

• How to apply

About the course

Oxford has a thriving group of research students studying for the DPhil in Economics. The DPhil, which is the equivalent to a PhD at most other institutions, is similar in structure to a PhD at leading economics graduate schools worldwide.

The majority of students on the DPhil at Oxford have first completed the two-year Oxford MPhil in Economics . You can also apply for the DPhil if you hold, or will hold a Master’s degree or equivalent in Economics from other universities.

All students starting the DPhil are admitted with Probationer Research Student status (PRS) in the first instance. You will take additional courses from the MPhil menu to deepen and broaden your economic training, while starting to work on your first research project. The PRS status allows for a smooth transition from learning about economic research to producing new economic insights yourself. If you haven’t completed the MPhil in Economics at Oxford, you will usually be required to take a year of coursework taking papers from either the first and/or second year of the MPhil programme. Students progressing from the MPhil in Economics at Oxford will usually complete their coursework by taking additional advanced courses from the MPhil. 

You will join one or more of the department's research groups, becoming part of a vibrant educational research community with a large number of doctoral student-led events, seminars and conferences.

You will have opportunities to present your work at a variety of seminars and sessions in the department.

Further information about part-time study

The department is able to offer the DPhil in Economics as a part-time mode. Although there is no requirement to reside in Oxford, part-time research students must attend the University on a regular basis (particularly in term-time: October and November, mid-January to mid-March, and late April to mid-June) for supervision, study, research seminars and skills training.

The department understands that part-time research students will have non-standard attendance and work patterns. To ensure a comprehensive integration into the faculty's and University's research culture and with their full-time peer groups a pattern of attendance at MPhil courses, training events and research seminars would form part of the general part-time study agreement.

Supervision

The allocation of graduate supervision for this course is the responsibility of the Department of Economics and it is not always possible to accommodate the preferences of incoming graduate students to work with a particular member of staff. Under exceptional circumstances a supervisor may be found outside the Department of Economics. In those cases, the expectation is that a co-supervisor or secondary supervisor from within the Department of Economics will also be appointed.

DPhil students will work closely with their supervisors and will be expected to meet face-to-face on at least two occasions per term with additional contact through online meetings and email exchanges.

Full-time students admitted to Probationer Research Student status are first required to transfer to DPhil status. The Transfer of Status requires the completion of the Qualifying Examinations, necessary coursework, and an interview with two assessors appointed by the department, at which the candidate presents an outline of their proposed thesis and a piece of written work relevant to the thesis. The transfer is normally expected to be completed by the end of the fourth term, and no later than six terms from admission to Probationer Research Student status. In exceptional circumstances, where a student has already successfully completed advanced coursework as part of the MPhil in Economics at Oxford, the department may waive the requirement for Transfer of Status and students may progress directly to DPhil status. Upon a successful transfer to DPhil status, students are required to confirm their DPhil status no later than nine terms after admission to Probationer Research Student status. 

Candidates for Confirmation of Status are required to present a research paper at a workshop or seminar, present a detailed outline of the complete thesis and some complete draft chapters, and will be interviewed by an assessor.

Part-time students admitted to Probationer Research Student status are normally expected to transfer to DPhil status during the first two to three years of study. Upon a successful transfer to DPhil status, students are required to confirm their DPhil status no later than eighteen terms after admission as a Probationer Research Student.

The award of this degree is based on a thesis of not more than 100,000 words in length. It should constitute a significant and substantial piece of research, of a kind which might reasonably be expected of a diligent and competent student in three years of full-time study. The maximum time allowed for completion of the DPhil is four years (eight years for part-time).

Graduate destinations

The interests and strengths of the department's doctoral students are many and diverse and this is reflected in the positions they take up after graduation: most take up tenure track or postdoc positions in academia; others find employment in government, international organisations, or the private sector. The international reputation of Oxford’s doctoral programme also means that its DPhil graduates can be found making a contribution in many different parts of the world.

The department recognises the importance of helping doctoral students find suitable employment and its placement efforts are directed by a senior member of the faculty. The department provides advice and help on all aspects of the job application process, including limited financial assistance to cover travel and conference expenses.

Changes to this course and your supervision

The University will seek to deliver this course in accordance with the description set out in this course page. However, there may be situations in which it is desirable or necessary for the University to make changes in course provision, either before or after registration. The safety of students, staff and visitors is paramount and major changes to delivery or services may have to be made in circumstances of a pandemic, epidemic or local health emergency. In addition, in certain circumstances, for example due to visa difficulties or because the health needs of students cannot be met, it may be necessary to make adjustments to course requirements for international study.

Where possible your academic supervisor will not change for the duration of your course. However, it may be necessary to assign a new academic supervisor during the course of study or before registration for reasons which might include illness, sabbatical leave, parental leave or change in employment.

For further information please see our page on changes to courses and the provisions of the student contract regarding changes to courses.

Entry requirements for entry in 2024-25

Proven and potential academic excellence.

The requirements described below are specific to this course and apply only in the year of entry that is shown. You can use our interactive tool to help you  evaluate whether your application is likely to be competitive .

Please be aware that any studentships that are linked to this course may have different or additional requirements and you should read any studentship information carefully before applying. 

Degree-level qualifications

As a minimum, applicants should hold or be predicted to achieve the following UK qualifications or their equivalent:

• an outstanding performance in a rigorous master's course in economics;  and
• a first-class or strong upper second-class undergraduate degree with honours in economics or another approved subject (such as mathematics).

Applicants must demonstrate a strong quantitative preparation. 

Offers will usually be made conditional on obtaining a distinction grade (or an equivalent level of performance where a distinction grade is not officially awarded) at master's level. 

Please note:

• a master's qualification that is only partially in economics would not be considered a suitable background: for example, a master's course in development studies, public administration, or in finance lacks the required level of economics content, even if there are economics courses as part of the training;
• a master's qualification in a specialised field within economics (eg development economics, applied economics, or financial economics) may also be insufficient background. Candidates with these qualifications should provide a written statement as part of their research proposal to demonstrate that the courses on which they have been examined covered all the core material of a rigorous master's course in economics.

Applicants with an insufficient master's background in economics who wish to proceed to DPhil are encouraged to first apply to the joint MPhil+DPhil in Economics.

For applicants with a degree from the USA, the minimum cumulative GPA sought is 3.7 out of 4.0.

If your degree is not from the UK or another country specified above, visit our International Qualifications page for guidance on the qualifications and grades that would usually be considered to meet the University’s minimum entry requirements.

GRE General Test scores

If you do not hold, or will not shortly hold, a UK or Republic of Ireland degree, you must submit the results of a GRE Test obtained within the last 5 years. However, we recommend applicants from UK or Republic of Ireland universities also submit a GRE score. Entrance is very competitive and most successful applicants will have a GRE score of Verbal 160, Quantitative 164, Analytical 4.5.

Other qualifications, evidence of excellence and relevant experience

• All candidates are expected to have working knowledge in one programming language (of the candidate’s choice) at the start of the DPhil. The department will provide advice to accepted candidates on how to acquire such knowledge.
• Part-time applicants will also be expected to show evidence of the ability to commit time to study and, if applicable, an employer's commitment to make time available to study, to complete coursework, and attend programme and University events and modules. Where appropriate, evidence should also be provided of permission to use employers’ data in the proposed research project.
• Publications are not expected.

English language proficiency

This course requires proficiency in English at the University's  higher level . If your first language is not English, you may need to provide evidence that you meet this requirement. The minimum scores required to meet the University's higher level are detailed in the table below.

*Previously known as the Cambridge Certificate of Advanced English or Cambridge English: Advanced (CAE) † Previously known as the Cambridge Certificate of Proficiency in English or Cambridge English: Proficiency (CPE)

Your test must have been taken no more than two years before the start date of your course. Our Application Guide provides  further information about the English language test requirement .

Declaring extenuating circumstances

If your ability to meet the entry requirements has been affected by the COVID-19 pandemic (eg you were awarded an unclassified/ungraded degree) or any other exceptional personal circumstance (eg other illness or bereavement), please refer to the guidance on extenuating circumstances in the Application Guide for information about how to declare this so that your application can be considered appropriately.

You will need to register three referees who can give an informed view of your academic ability and suitability for the course. The  How to apply  section of this page provides details of the types of reference that are required in support of your application for this course and how these will be assessed.

Supporting documents

You will be required to supply supporting documents with your application. The  How to apply  section of this page provides details of the supporting documents that are required as part of your application for this course and how these will be assessed.

Performance at interview

Interviews are not normally held as part of the admissions process.  

How your application is assessed

Your application will be assessed purely on your proven and potential academic excellence and other entry requirements described under that heading.

References  and  supporting documents  submitted as part of your application, and your performance at interview (if interviews are held) will be considered as part of the assessment process. Whether or not you have secured funding will not be taken into consideration when your application is assessed.

An overview of the shortlisting and selection process is provided below. Our ' After you apply ' pages provide  more information about how applications are assessed . 

Shortlisting and selection

Students are considered for shortlisting and selected for admission without regard to age, disability, gender reassignment, marital or civil partnership status, pregnancy and maternity, race (including colour, nationality and ethnic or national origins), religion or belief (including lack of belief), sex, sexual orientation, as well as other relevant circumstances including parental or caring responsibilities or social background. However, please note the following:

• socio-economic information may be taken into account in the selection of applicants and award of scholarships for courses that are part of  the University’s pilot selection procedure  and for  scholarships aimed at under-represented groups ;
• country of ordinary residence may be taken into account in the awarding of certain scholarships; and
• protected characteristics may be taken into account during shortlisting for interview or the award of scholarships where the University has approved a positive action case under the Equality Act 2010.

Processing your data for shortlisting and selection

Information about  processing special category data for the purposes of positive action  and  using your data to assess your eligibility for funding , can be found in our Postgraduate Applicant Privacy Policy.

Admissions panels and assessors

All recommendations to admit a student involve the judgement of at least two members of the academic staff with relevant experience and expertise, and must also be approved by the Director of Graduate Studies or Admissions Committee (or equivalent within the department).

Admissions panels or committees will always include at least one member of academic staff who has undertaken appropriate training.

Other factors governing whether places can be offered

The following factors will also govern whether candidates can be offered places:

• the ability of the University to provide the appropriate supervision for your studies, as outlined under the 'Supervision' heading in the  About  section of this page;
• the ability of the University to provide appropriate support for your studies (eg through the provision of facilities, resources, teaching and/or research opportunities); and
• minimum and maximum limits to the numbers of students who may be admitted to the University's taught and research programmes.

Offer conditions for successful applications

If you receive an offer of a place at Oxford, your offer will outline any conditions that you need to satisfy and any actions you need to take, together with any associated deadlines. These may include academic conditions, such as achieving a specific final grade in your current degree course. These conditions will usually depend on your individual academic circumstances and may vary between applicants. Our ' After you apply ' pages provide more information about offers and conditions . 

In addition to any academic conditions which are set, you will also be required to meet the following requirements:

Financial Declaration

If you are offered a place, you will be required to complete a  Financial Declaration  in order to meet your financial condition of admission.

Disclosure of criminal convictions

In accordance with the University’s obligations towards students and staff, we will ask you to declare any  relevant, unspent criminal convictions  before you can take up a place at Oxford.

Academic Technology Approval Scheme (ATAS)

Some postgraduate research students in science, engineering and technology subjects will need an Academic Technology Approval Scheme (ATAS) certificate prior to applying for a  Student visa (under the Student Route) . For some courses, the requirement to apply for an ATAS certificate may depend on your research area.

With more than 60 academics in permanent posts and 30+ postdoctoral research fellows, the Department of Economics is a large and vibrant international community of researchers. In the 2021 REF, Oxford was ranked first in terms of overall research ‘power’ and funding market share.

The department hosts research centres such as the Centre for the Study of African Economies (CSAE), which is internationally recognised as a hub for innovative research and outreach to the academic and policy-making communities world-wide through their seminars, workshops and annual conferences.

Within the department, specialised research groups play a key role in bringing together faculty and graduate students working in particular sub-fields, supporting and mentoring doctoral students and postdoctoral research fellows, and promoting research of the highest international standard.

The research groups provide an important interface between the research centres and the department, for example, econometrics and the INET programme on Economic Modelling (EMOD); development economics and CSAE. Other research groups facilitate collaboration across departments, as in the case of the economic history group and economic historians in the Faculty of History. Each research group runs a regular seminar series with external presenters, plus a more informal workshop in which members, including DPhil students, present their research in progress.

Students can access a range of internship programmes through the University Careers Office as well as the RCUK Policy Internship scheme for ESRC-funded students. In addition, the Bank of England and Goldman Sachs each provide a short summer internship for a doctoral student specialising in macroeconomics or finance and the Department of Economics is accredited by the Asian Development Bank to nominate candidates for their internship programme. In recent cohorts, students have benefited from an internship with organisations including the EBRD, European Central Bank, UK Home Office, as well as those identified above.

The Department of Economics is located in the Manor Road Building in central Oxford, alongside the Department of Politics and International Relations. The department contains faculty offices and open-plan workspaces for DPhil students and postdoctoral research, with access to Wi-Fi and print services. A BYOD (Bring Your Own Device) policy is in place within the Economics department, enabling you to access data shares, printing, software and for some, a full Windows desktop via the department's Virtual Desktop environment. The Manor Road IT team support all IT-related infrastructure and systems within the department, including desktops, laptops and tablets, and all associated peripherals (printers, scanners, webcams etc) and software provision.

The Manor Road Building also houses the Bodleian Social Sciences Library (SSL), a first-class research library open to all members of the University. The SSL holds over 250,000 printed books, over 1,000 printed journal titles, as well as statistical publications, working papers, dissertations, pamphlets and reports. Online resources include almost 100,000 e-journals and an extensive collection of databases and archives in the social sciences. Graduate teaching and most seminars take place within the Manor Road Building, where there is also a cafeteria and common room for students' use.

Oxford's Department of Economics is one of Europe's leading research departments and its members include some of the world's most distinguished academic economists.

The department offers its community of around 300 graduate students a rigorous and relevant training in economics, providing a setting in which debate and research can flourish. The department’s graduate courses prepare students for a wide range of careers in academia, government and business.

The department is committed to excellence in teaching and the MPhil and DPhil in Economics are internationally recognised for the quality of the training provided. The University of Oxford is ranked 2nd in Europe in the most recent Tilburg University ranking of Economics departments, based on research contribution for the period between 2016-2020. In the 2021 Research Excellence Framework exercise, that evaluated research output of UK Universities, Oxford was first for overall research strength in Economics and Econometrics, with more research ranked as ‘world-leading’ than any other participating institution.

In a submission of 84 FTE academics, which was the largest number of researchers submitted in the Economics and Econometrics Unit of Assessment, 94% of the department's research output was assessed as ‘internationally excellent’ or ‘world-leading’ (3* or 4*). The scale and breadth of the Department’s research is a product of a vibrant and well-connected community, with particular attention on supporting early career researchers. The Department maintains world-class expertise in the core discipline areas of microeconomics, macroeconomics and econometrics, while building clusters of research strength in more specialist subfields – notably applied microeconomics; behavioural economics and game theory; the economics of climate change and sustainability; machine learning; economic history; development economics.

Oxford has one of the strongest, largest, and most varied groups of economists in the world. Our objective is to engage in innovative research that extends the frontiers of the discipline, deepening our understanding of the operation of modern economies. Research spans almost all the major sub-fields of economics with particular strengths in microeconomic theory, including behavioural economics; econometrics, both micro-econometrics and time series; economic history and development and international economics. Research activity is focused within smaller, specialised groups, with each group holding regular workshops at which research by faculty and graduate students is presented and discussed. Many distinguished researchers from outside Oxford also visit to present their work at seminars.

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The University expects to be able to offer over 1,000 full or partial graduate scholarships across the collegiate University in 2024-25. You will be automatically considered for the majority of Oxford scholarships , if you fulfil the eligibility criteria and submit your graduate application by the relevant December or January deadline. Most scholarships are awarded on the basis of academic merit and/or potential. 

For further details about searching for funding as a graduate student visit our dedicated Funding pages, which contain information about how to apply for Oxford scholarships requiring an additional application, details of external funding, loan schemes and other funding sources.

Please ensure that you visit individual college websites for details of any college-specific funding opportunities using the links provided on our college pages or below:

Please note that not all the colleges listed above may accept students on this course. For details of those which do, please refer to the College preference section of this page.

Further information about funding opportunities for this course can be found on the department's website.

Annual fees for entry in 2024-25

Full-time study.

Further details about fee status eligibility can be found on the fee status webpage.

Part-time study

Information about course fees.

Course fees are payable each year, for the duration of your fee liability (your fee liability is the length of time for which you are required to pay course fees). For courses lasting longer than one year, please be aware that fees will usually increase annually. For details, please see our guidance on changes to fees and charges .

Course fees cover your teaching as well as other academic services and facilities provided to support your studies. Unless specified in the additional information section below, course fees do not cover your accommodation, residential costs or other living costs. They also don’t cover any additional costs and charges that are outlined in the additional information below.

Continuation charges

Following the period of fee liability , you may also be required to pay a University continuation charge and a college continuation charge. The University and college continuation charges are shown on the Continuation charges page.

Where can I find further information about fees?

The Fees and Funding  section of this website provides further information about course fees , including information about fee status and eligibility  and your length of fee liability .

Additional information

There are no compulsory elements of this course that entail additional costs beyond fees (or, after fee liability ends, continuation charges) and living costs. However, please note that, depending on your choice of research topic and the research required to complete it, you may incur additional expenses, such as travel expenses, research expenses, and field trips. You will need to meet these additional costs, although you may be able to apply for small grants from your department and/or college to help you cover some of these expenses.

Please note that you are required to attend in Oxford for a minimum of 30 days each year, and you may incur additional travel and accommodation expenses for this. Also, depending on your choice of research topic and the research required to complete it, you may incur further additional expenses, such as travel expenses, research expenses, and field trips. You will need to meet these additional costs, although you may be able to apply for small grants from your department and/or college to help you cover some of these expenses.

Living costs

In addition to your course fees, you will need to ensure that you have adequate funds to support your living costs for the duration of your course.

For the 2024-25 academic year, the range of likely living costs for full-time study is between c. £1,345 and £1,955 for each month spent in Oxford. Full information, including a breakdown of likely living costs in Oxford for items such as food, accommodation and study costs, is available on our living costs page. The current economic climate and high national rate of inflation make it very hard to estimate potential changes to the cost of living over the next few years. When planning your finances for any future years of study in Oxford beyond 2024-25, it is suggested that you allow for potential increases in living expenses of around 5% each year – although this rate may vary depending on the national economic situation. UK inflationary increases will be kept under review and this page updated.

If you are studying part-time your living costs may vary depending on your personal circumstances but you must still ensure that you will have sufficient funding to meet these costs for the duration of your course.

Students enrolled on this course will belong to both a department/faculty and a college. Please note that ‘college’ and ‘colleges’ refers to all 43 of the University’s colleges, including those designated as societies and permanent private halls (PPHs). 

If you apply for a place on this course you will have the option to express a preference for one of the colleges listed below, or you can ask us to find a college for you. Before deciding, we suggest that you read our brief  introduction to the college system at Oxford  and our  advice about expressing a college preference . For some courses, the department may have provided some additional advice below to help you decide.

The following colleges accept students for full-time study on this course:

• Balliol College
• Blackfriars
• Brasenose College
• Campion Hall
• Christ Church
• Corpus Christi College
• Exeter College
• Harris Manchester College
• Hertford College
• Jesus College
• Keble College
• Kellogg College
• Lady Margaret Hall
• Linacre College
• Lincoln College
• Magdalen College
• Mansfield College
• Merton College
• New College
• Nuffield College
• Oriel College
• Pembroke College
• The Queen's College
• Regent's Park College
• Reuben College
• St Anne's College
• St Antony's College
• St Catherine's College
• St Cross College
• St Edmund Hall
• St Hilda's College
• St Hugh's College
• St John's College
• St Peter's College
• Somerville College
• Trinity College
• University College
• Wadham College
• Wolfson College
• Worcester College
• Wycliffe Hall

The following colleges accept students for part-time study on this course:

Before you apply

Our  guide to getting started  provides general advice on how to prepare for and start your application. You can use our interactive tool to help you  evaluate whether your application is likely to be competitive .

If it's important for you to have your application considered under a particular deadline – eg under a December or January deadline in order to be considered for Oxford scholarships – we recommend that you aim to complete and submit your application at least two weeks in advance . Check the deadlines on this page and the  information about deadlines and when to apply  in our Application Guide.

Application fee waivers

An application fee of £75 is payable per course application. Application fee waivers are available for the following applicants who meet the eligibility criteria:

• applicants from low-income countries;
• refugees and displaced persons; 
• UK applicants from low-income backgrounds; and 
• applicants who applied for our Graduate Access Programmes in the past two years and met the eligibility criteria.

You are encouraged to  check whether you're eligible for an application fee waiver  before you apply.

Readmission for current Oxford graduate taught students

If you're currently studying for an Oxford graduate taught course and apply to this course with no break in your studies, you may be eligible to apply to this course as a readmission applicant. The application fee will be waived for an eligible application of this type. Check whether you're eligible to apply for readmission .

Do I need to contact anyone before I apply?

You do not need to make contact with the department before you apply but you are encouraged to visit the relevant departmental webpages to read any further information about your chosen course.

Completing your application

You should refer to the information below when completing the application form, paying attention to the specific requirements for the supporting documents . 

If any document does not meet the specification, including the stipulated word count, your application may be considered incomplete and not assessed by the academic department. Expand each section to show further details.

Referees: Three overall, academic and/or professional

Whilst you must register three referees, the department may start the assessment of your application if two of the three references are submitted by the course deadline and your application is otherwise complete. Please note that you may still be required to ensure your third referee supplies a reference for consideration.

It is recommended that you provide three academic references, however the department will accept one professional reference of the three required overall. Your references will support intellectual ability, academic achievement, and motivation.

Official transcript(s)

Your transcripts should give detailed information of the individual grades received in your university-level qualifications to date. You should only upload official documents issued by your institution and any transcript not in English should be accompanied by a certified translation.

More information about the transcript requirement is available in the Application Guide.

A CV/résumé is compulsory for this course. Most applicants choose to submit a document of one to two pages highlighting their academic achievements and any relevant professional experience.

Research proposal: A maximum of 1,500 words

You should submit a detailed outline of your proposed research, written in English, covering areas such as the background to the research, methodology, expected results and the contribution to the field of learning.

It is not necessary to include your bibliography in the overall word count. 

If possible, please ensure that the word count is clearly displayed on the document.

This will be assessed for:

• your reasons for applying;
• the coherence of the proposal;
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Written work: One essay of a maximum of 2,000 words

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The written work should be typed and in English. The word count does not need to include any bibliography or brief footnotes.

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If you do not hold, or will not shortly hold, a UK or Republic of Ireland degree, you must submit the results of a GRE Test obtained within the last 5 years. However, we recommend that applicants from UK or Republic of Ireland universities also submit a GRE score. Entrance is very competitive, and most successful applicants have a GRE score of at least 160 for verbal, 164 for quantitative and 4.5 for analytical.

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Is an Economics PhD Worth It? The PhD Pay Premium

Read a summary or generate practice questions using the INOMICS AI tool

Economics students may often wonder if doing a PhD is the right move for them. After all, you can still get a good job in economics with just a Master’s degree. We’ve covered different angles of this topic before with helpful advice about what degree you’ll need as an economist , asking whether you should do a PhD , and even asking what kinds of economists are paid the most . Thanks to INOMICS Salary Report 2023 data, we can look more closely at the pay benefit for an economics PhD in today’s job market. This will help you decide if doing an economics PhD will be worth it for your own career.

Perhaps unsurprisingly, the typical PhD in economics earns more than the typical economist with “only” a Master’s degree. But how much more? Is doing an economics PhD program worth it in the long term?

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The short answer: yes. INOMICS Salary Report data shows that in 2023, economics PhDs earned on average 96% more than economists with a Master’s degree. These are worldwide statistics taken from the full breadth of the INOMICS Salary Survey data.

The benefit to doing a PhD in economics varies by region. Figure 1 compares the “earnings premium” that an economics PhD has over economists with a Master’s degree across the world, using 2023 INOMICS Salary Survey data.

Figure 1: Regional Premiums in economics PhD pay compared to a Master’s

Clearly, in most regions acquiring a PhD in economics offers quite the premium. Some results may stand out as surprising, however.

First, in North America in particular, the premium for earning a PhD in economics seems smaller than expected. If a PhD only earns an economist an extra 36% increase in wages, ignoring a PhD and continuing to work might seem like a preferred option in this high-wage region.

In the Caribbean, South & Central America and Africa, PhD earnings are below Master’s earnings. This unexpected result appears to be the case due to the distribution of survey respondents. In both regions, the amount of industry economist respondents is much larger than academic respondents, and Master’s-degree-holding economists outnumber PhD economists in Government, Central & International Bank, and private business roles. These three categories of employer tend to pay more highly than others. This suggests that in these two regions, acquiring a PhD may not be necessary to have a well-compensated industry career. Further, it seems more realistic for Master’s-degree-holding economists to attain high-paying roles in these sectors without a PhD, as opposed to many other regions where a PhD would be considered a requirement.

As the previous discussion just showed, Figure 1 doesn’t account for the different sectors that economists work in. In general, economists who work in industry tend to earn very high wages, while economists who work in academia earn noticeably less until they are finally promoted to a full Professor of Economics. Then, academic economist pay catches up to industry pay. This is a trend noted in multiple editions of the INOMICS Salary Report.

This is particularly true in North America, the highest-paying region on average. Economists working in industry can earn high wages with only a Master’s degree. This is also true of Western Europe & Scandinavia and East Asia & Australasia, the second and third highest-paying regions identified by the Report.

Some other regions of the world feature much more of a premium for PhD economists. Part of the reason for this is clear. Since high-paying regions like Western Europe and Australasia pay higher salaries to begin with due to the higher cost of living, a high pay increase in these regions represents a lower percentage of overall pay.

This fact is supported by the graph; North America is the highest-paying region and features the lowest positive percentage increase in pay for PhDs. Western Europe, which pays the second most on average, features a slightly higher percentage increase. Readers should make no mistake; a 35.6% increase from a base salary of $100,833 (the average Master’s degree economist salary in North America) is a massive increase in pay. Comparably, the almost 120% increase in pay in the Middle East, Central Asia & North Africa region is an increase from an average Master’s degree salary of $17,321 to almost $40,000. In percentage terms, this is obviously enormous, but in cash terms less than the difference in North America.

Additionally, however, the high percentage premium for PhD economists in lower-paying regions may suggest that in these regions (i.e., South Asia, Middle East) there are more opportunities for economists without a PhD to find meaningful employment, so fewer individuals elect to study for a PhD. If this is true, those who do complete a PhD enjoy a high pay premium over their economist peers since economics PhDs are more rare in those regions.

Academic economists need a PhD

Economics students should keep in mind that academic jobs will almost certainly require a PhD in economics. Economics students interested in a career in academia should therefore be strongly encouraged to pursue an economics PhD, regardless of differences in pay. The following Figure 2 shows the pay premium for economists employed at universities, by region:

Figure 2: Regional Premiums in economics PhD pay compared to a Master’s (Academic only)

The pay premiums for economics PhDs tells the story quite clearly: across the board, in every world region, economics PhDs in academia earn much more than their counterparts without a PhD.

Readers might note that this graph is likely skewed because economics PhDs are probably more senior economists than economists without a PhD in academic settings, and likely hold higher-level positions; but this skewness supports the point. Economists interested in a serious career in academia must strongly consider getting a PhD, or have a specific reason to not need one. It is very difficult to earn a Professor of Economics position without a PhD in most of the world. Figure 3 below provides evidence to support this point.

Figure 3: % of Master’s degree economists in Professor roles by region

Figure 3 shows very clearly that burgeoning economists should expect to earn a PhD if they wish to work as a Professor of Economics in the future. Every world region has very few Professors with just a Master’s degree. Even in South Asia, which has by far the largest representation for Professors with a Master’s degree in our data, only 20% of Professors have a Master’s while 80% have a PhD.

Industry economist roles

It’s clear that academic economists usually need a PhD, but this isn’t necessarily the case in industry. However, readers may be curious to repeat the above breakdowns in industry roles, which can be instructive. Figure 4 thus shows the pay premium for PhD economists in industry roles by region:

Figure 4: Regional Premiums in economics PhD pay compared to a Master’s (Industry only)

Figure 4 shows that PhD economists out-earn Master’s-holding economists in industry jobs by a substantial amount in most regions. The lower industry PhD economist pay compared to Master’s degree economists was already discussed above for Africa and the Caribbean. In summary, Master’s degree holding economists outnumber PhD economists in Government, Central & International Bank, and private business roles in these two regions. Since these three categories of employer tend to pay more highly than others, it may slightly skew the graph in favor of Master’s degree holders. However, this suggests that in these two regions, acquiring a PhD may not be necessary to have a well-compensated industry career.

In North America, part of the reason for a lower than expected premium is likely the fact that in this high-paying region, high base salaries mean that salary increases will be lower percentage-wise. This was discussed above as well. Average years of experience are quite comparable for industry economists in North America (about 12 for Master’s degree holders and 15 for PhD holders), and the employer distribution is relatively balanced.

Figure 4 suggests that industry economists with a Master’s degree in North America ought to consider their career path and whether a PhD is right for them before going back to school. A PhD opens up some employment opportunities in the private sector that aren’t available to Master’s degree holders, and will increase pay, but whether or not that is necessary or desired is likely up to the individual.

Keep in mind that specific non-academic employers – especially governments, central banks like the Federal Reserve, institutions seeking economics researchers, NGOs like the World Bank, and even increasingly consulting firms – are likely to require an econ PhD for some higher-level positions. Be sure to check job listings for economics jobs that you’re interested in to see if a PhD might help you reach them in your career.

Comparing previous years: PhD earnings on the rise again

Using past years of INOMICS survey data, we can examine how the benefit to doing an economics PhD has changed over time. It appears that the premium in pay that economics PhDs enjoy is recovering after a slight dip during the pandemic years. See below Figure 5 below:

Figure 5: How much more PhD economists earn vs. Master’s economists by year, INOMICS data

Figure 5 shows that earnings for economics PhDs are once again rising relative to pay for economists without a PhD. It’s worth noting that pay for economists with both degree types has increased this year. According to the latest INOMICS Salary Report, economists with a Master’s as their highest degree experienced a 3.2% increase in pay on average since 2022, while those with a PhD have experienced a 35.9% increase. This has widened the earnings premium between the two categories from 80% in 2022 to 91% in 2023.

The dip in pay that economists experienced in 2022 may be partially due to the COVID-19 pandemic. And PhD pay is not the only factor that appears to be improving since COVID. The post-pandemic recovery of the economics jobs market has already been discussed by INOMICS, showing that earnings for economists with Master’s and Bachelor’s degrees recovered sharply after the first waves of the pandemic.

So, is doing a PhD in economics right for you? According to the data, in most cases it will be. However, you must weigh the tradeoffs yourself. You may not need a PhD to have a fulfilling career in economics, particularly if you plan to work in a non-governmental and non-central bank role in industry, and particularly in certain countries and regions.

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May 1, 2024 - US campus protests

By Elizabeth Wolfe, Kathleen Magramo, Dalia Faheid, Antoinette Radford, Emma Tucker, Anna Cooban, Rachel Ramirez, Aditi Sangal, Elise Hammond, Maureen Chowdhury, Lauren Mascarenhas, Chandelis Duster and Tori B. Powell, CNN

Protesters clash on UCLA campus, reports say

From CNN's Melissa Alonso 

A violent confrontation has broken out between pro-Palestinian protesters and Israel supporters at the University of California, Los Angeles (UCLA), multiple news outlets report.  

The clash came hours after UCLA Chancellor Gene Block called a pro-Palestinian encampment on campus "unlawful" on Tuesday night.

Block said the school had increased security and that students who didn't leave the encampment would face disciplinary action.

The encampment "is unlawful and violates university policy,” Block said in a statement. 

The  Daily Bruin had reported a standoff between protesters and counter-protesters, and fireworks being launched into the encampment. 

Video from CNN affiliate KABC shows fireworks, objects being thrown, and physical violence among demonstrators. 

Zach Seidl, spokesperson for the L.A. Mayor's office, said in a post  on X that  the "mayor has spoken to Chancellor Block and Chief Choi. LAPD is responding immediately to Chancellor Block’s request for support on campus.” 

It's unclear whether anyone has been seriously injured. 

CNN has reached out to UCLA, UCLA Police and LAPD for comment.  

Analysis: Student unrest ratchets up an already tense election year

From CNN's Stephen Collinson

Dramatic  campus protests  are injecting an inflammatory new element into an election year that is already threatening to stretch national unity to a breaking point.

Tensions spiked late Tuesday following an operation by New York Police Department surge teams to reclaim the Columbia University campus from pro-Palestinian demonstrators and followed scuffles, arrests and canceled classes on at least 25 campuses in 21 states.

The protests were triggered by the terrible civilian toll of Israel’s war against Hamas in Gaza, but they’re now exposing the country’s ideological schisms and new political currents.

The protests are a new test for  President Joe Biden  as he seeks reelection, with the Gaza war tearing deep rifts in his fragile electoral coalition.

Any president torn between implementing what he thinks is in the US national interest – in this case, defending Israel – and his own political imperatives is in a perilous spot, let alone one who is six months from asking voters for a second term.

And if protests spread and Biden looks like he’s losing control of the country, the political consequences could be ruinous.

Read the full analysis .

Campus protesters are calling for divestment. It's happened before

From CNN's Samantha Delouya

Nearly all pro-Palestinian protests rocking college campuses across the US have called for universities to divest from Israel in some form.

What would divestment look like?

Divestment is the opposite of investment.

Many universities have an endowment, which is donated funds generally invested in stocks, bonds and other financial instruments to help the university earn money.

At Columbia, a group of students wants the college to divest  its $13.6 billion endowment from any company linked to Israel, including Microsoft and Amazon.

Protesters at other schools, such as Cornell and Yale, want their universities to stop investing in weapons manufacturers.

What are university officials saying?

On Monday, Columbia’s administration reiterated that it would not divest from Israel. Last week, the University of California also said divestment wouldn’t happen.

But some colleges are willing to talk with protesters.

Christina Paxson, president of Brown University, sent a letter to demonstrators saying she would agree to hear a divestment proposal if the school’s encampment were disbanded, according to the student-run newspaper, the  Brown Daily Herald .

They've been here before.

Columbia students protesting South Africa's apartheid racial segregation policy in the 1980s called on the school to sever its financial ties with companies doing business in the country.

Columbia eventually voted to sell most of its stock in South Africa-connected companies. Other colleges followed suit.

Read more here.

Protesters have been arrested on more than 25 campuses across at least 21 states

From CNN's Alex Leeds Matthews, Krystina Shveda, Amy O'Kruk and Renée Rigdon

Since April 18, more than 1,000 people have been arrested on college and university campuses from coast to coast as schools prepare for spring commencement ceremonies, according to a CNN review of university and law enforcement statements.

Protesters have been arrested on more than 25 campuses across at least 21 states. However, many other schools have experienced protests without arrests.

CNN is monitoring campus protests and will continue to update  this map  with any new arrests.

Video shows Arizona State University police officer removing protester’s hijab during arrest

From CNN’s Cindy Von Quednow

Video taken over the weekend at Arizona State University shows a campus police officer removing a hijab from a protester’s head during her arrest.

The blurred video, obtained by Mass Liberation AZ and provided to CNN by attorney Zayed Al-Sayyed, who represents the women, shows several ASU Police Department officers surrounding a woman whose hands are held behind her back as one of the officers removes her hijab.

People nearby can be heard yelling, “You’re violating her privacy,” and “Give it back.”

The officers then pull the woman’s sweatshirt hood over her head and a bystander yells, “So she can wear a hood but not her hijab?” At one point one of the officers blocks the woman from the view of those taking the video, as a person yells, “let her go!”

A lawyer representing her and three other women who said it also happened to them is demanding accountability.

Al-Sayyed, who said the arrests took place early Saturday, did not identify the women but indicated that three of them are students at the university and all four are Phoenix-area residents. They are facing criminal trespass charges.

Upon being taken into custody, Al-Sayyed said, the women explained the significance of a hijab and “begged” to keep their hijabs, but he said they were told that their hijabs had to be removed for safety reasons.

“They never expected that an officer … who’s sworn to protect and serve is going to violate their most basic protected right under the United States Constitution, which is the right to practice their religion. So they're hurt,” Al-Sayyed said.

After being detained and bused to jail, the women were not given their hijabs back, Al-Sayyed said.

Around 15 hours later, when he was finally given access to his clients, Al-Sayyed said he was able to bring them new hijabs.

The Arizona chapter of the Council on American-Islamic Relations (CAIR-AZ),  condemned  the university police for the recorded incident and others like it and called for a full investigation.

“This act represents a blatant infringement upon the religious liberties of peaceful protesters. It is profoundly distressing for the affected women, and ASU Police must conduct a thorough investigation into this matter,” Azza Abuseif, executive director of CAIR-AZ, said in an email to CNN.

In a statement to CNN, the university said, “This matter is under review.” CNN has reached out to the Maricopa County Attorney's Office for comment.

Over 100 protesters arrested across 2 New York college campuses, law enforcement official says

From CNN’s Mark Morales

Over 100 protesters were arrested Tuesday at Columbia University and City College of New York, according to a law enforcement official.

Most of the arrests were made at Columbia, including about two dozen protesters who police say tried to prevent officers from entering the campus, the official said.

Tactical teams at Columbia first set up a perimeter around the campus to hold back protesters and prevent further arrests, according to the official. Officers then entered the campus through multiple entry points.

NYPD used flash bangs to breach Columbia building where doors were barricaded

From CNN’s Matthew Friedman and Miguel Marquez

NYPD officers used flash-bang grenades Tuesday night to breach Columbia's Hamilton Hall, which protesters had barricaded themselves inside, the police department told CNN.

The building's doors had been barricaded with chairs, tables and vending machines, and windows had been covered with newspaper, the NYPD said.

When a flash-bang grenade is deployed , it emits a bright flash and a very loud bang, often used to shock and disorient. 

Video posted by NYPD Deputy Commissioner Kaz Daughtry shows officers searching a bookshelf-lined office after busting the door's lock with a hammer.

Another video shows officers packing a stairwell and passing chairs to one another.

At least 50 officers had earlier used an elevated ramp to climb into the building through a window. 

Protests will continue despite police presence at Columbia, student negotiator says

From CNN's Kathleen Magramo

A lead student negotiator for protesters at Columbia University has told CNN that protests will continue on the campus despite the school's request for a prolonged police presence.

The university has asked NYPD to maintain its presence on campus until May 17.

"I’m very confident that students will continue this movement even after all this brutality against them," negotiator Mahmoud Khalil said, adding that students still have the right to protest despite increased security.

Since negotiations between student protesters and the Columbia University administration began two weeks ago, the university has not viewed them as an anti-war movement, he said. 

"Instead, they dealt with it as an internal student discipline matter. They negotiated with us about bringing food and blankets to the encampment. They refused to acknowledge that this actually is more than that, this is a nationwide movement.

"This is a movement that asks Columbia to divest its investments from the companies that are fueling the war in Gaza right now,” said Khalil, who is a second-year graduate student at Columbia.

Tensions escalated on campus when officers on Tuesday night entered Columbia's Hamilton Hall , which had been occupied by protesters since the early hours of Tuesday, and dozens were seen being arrested.

Khalil said that "the autonomous group decided to take that building when they felt the university is not answering their demands" and was "alienating" them.

Police presence at Columbia may dampen graduation celebrations, CNN journalist and student says

From CNN's Elizabeth Wolfe

Julia Vargas Jones, a CNN journalist and Columbia Journalism School graduate student, said the university's request for an on-campus police presence through May 17 will only "dampen the mood even more" as students and their families prepare for graduation.

NYPD swarmed the university Tuesday night after the university authorized it to go into the campus to clear out a building being occupied by protesters. CNN witnessed dozens of arrests.

"Graduation is May 15. That is my graduation as well. I have family coming from Brazil to come watch me walk across the stage and get my diploma. I hope of course, as everyone does, that this (graduation) can happen," Jones said.

"But at the same time, is there a climate for celebration, for graduation?" Jones said.

Jones said she's unsure the climate on campus will be celebratory as graduation nears.

"I spoke to a lot of students on campus today and students were just feeling caught in between. I don't really see celebration being something we flock to in the coming weeks," she said. "I'm interested to see who will actually attend graduation."

Jones, as she reported from inside Columbia’s campus Tuesday night, said she did not witness any violent altercations. After the campus was cleared by NYPD, Jones described the atmosphere as quiet enough to “hear a pin drop.”

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