phd in economics usc

The Department of Pharmaceutical and Health Economics (in the School of Pharmacy) offers a program of study leading to the PhD degree in Health Economics. The program focuses on microeconomics; econometrics; health economics and policy; public finance; pharmaceutical economics and policy. The program offers one track in microeconomics and a second track in pharmaceutical economics and policy.

Microeconomics Track

Students in the microeconomics track will complete the microeconomic theory and econometric sequence and course work in health economics. They will receive focused training and mentoring in health economics through collaboration on research projects.

Satisfactory completion of the economic theory sequence with a grade point average of B or higher.

At least one of the econometrics courses must be completed with a grade of B or higher. The courses recommended for fulfilling the requirements for the Microeconomics Track are:

• GSBA 602 Selected Issues in Economic Theory I Units: 3
• PMEP 509 Research Design Units: 4
• ECON 636 Health Economics I Units: 4
• ECON 693 Seminar in Applied Economics and Public Policy Units: 2
• GSBA 612 Selected Issues in Economic Theory II Units: 3
• PMEP 525 Pharmacoeconomics I Units: 4
• PMEP 526 Pharmacoeconomics II Units: 2
• PMEP 535 Behavioral Science and Policy in Healthcare Units: 4
• PMEP 544 Health Economics II Units: 4
• PMEP 547 Programming Methods for Empirical Analysis of Health Data Units: 4
• PMEP 551 Introduction to Health Econometrics Units: 4
• PMEP 552 Advanced Health Econometrics I Units: 4
• PMEP 553 Advanced Health Econometrics II Units: 4
• PMEP 698 Seminar in Pharmaceutical Economics and Policy Units: 1

Additional Requirements

Foreign Language Requirement

There is no formal foreign language requirement. However, competence in the use of one computer programming language is required for the graduate degree. Such competence can be demonstrated either by course work or examination.

Grade Point Average

A grade point average (GPA) of at least 3.0 and typically considerably higher (on a scale of 4.0) must have been achieved on all graduate work at USC for the passing of the screening procedure. The Graduate School requires a minimum GPA of 3.0 on all course work taken as a graduate student at USC.

Unit Requirements

The PhD in Health Economics requires a minimum of 64 units of graduate-level courses numbered 500 or higher (excluding 794) and a minimum of 4 units of 794. A maximum of two full courses (eight units) or their equivalent may be PMEP 790    (research) since directed research will generally be incorporated into most 500- and 600-level courses. Exceptions will be considered on an individual basis. Normally, a full-time graduate student course load is three full courses or their equivalent per semester, with a four-course maximum. Students may transfer and substitute up to 24 units of graduate course work from other universities to fulfill the required 64 units of graduate credit subject to the approval of the department.

Screening Procedure

The student’s progress will be reviewed after each semester and before registration for any additional course work to determine if progress has been satisfactory. The screening procedure will include satisfactory performance on written screening exams covering the major topics covered in the recommended coursework for each track.

Qualifying Exam

Upon successful completion of the first two years of course and grade requirements, and following passing of required screening procedures, the student takes a general written and oral examination on the chosen area of research emphasis after presenting a detailed written dissertation proposal. After passing these examinations, the student is admitted to candidacy for the PhD degree.

The student will select a member of the graduate faculty who will serve as his or her adviser and chair of the student’s qualifying exam committee. The student should consult the director of Graduate Studies for the Health Economics program on the selection of his or her adviser and chair of the PhD qualifying exam committee after taking the written screening examinations. The chairman of the student’s PhD qualifying exam committee advises the student on matters of curriculum and graduate opportunities. The qualifying exam committee is composed of five members. The committee chair and at least two additional members must have appointments in the student’s program. Faculty eligible to serve as committee chairs and members include tenured, tenure-track, and research faculty, teaching faculty, practitioner faculty or clinical faculty (RTPC) faculty. The committee chair and at least three members must be research active in a field relevant to the research thesis and one member of the committee must be tenured or tenure track; and the committee membership requires approval by the dean of the school. Visiting faculty may not serve on qualifying exam committees. The vice provost for graduate programs is an ex officio member of all qualifying exam committees.

The composition of all PhD qualifying exam committees must be approved by the director of Graduate Studies for the Health Economics program. The student must form his or her qualifying exam committee soon after passing the departmental screening procedure.

Dissertation Proposal Preparation

The student is required to register for two units of PMEP 790    and write a research paper on a topic suitable for a dissertation. Typically, the chair of the student’s guidance committee directs this work. The resulting essay becomes part of the student’s written dissertation proposal which constitutes the written portion of the qualifying exam.  This proposal is presented and critiqued during the oral portion of the qualifying examination.

Dissertation

After admission to candidacy, the student forms a dissertation committee comprising three faculty members, one of whom can be from an outside department. The chair of this committee is the dissertation supervisor. The student must register for PMEP 794a   , PMEP 794b   , PMEP 794c   , PMEP 794d   , or PMEP 794z    each semester, excluding summer sessions, until the dissertation and all other degree requirements are completed.

The student is expected to complete a dissertation based on an original investigation. The dissertation must represent a significant contribution to knowledge and must be defended in an oral examination administered by the dissertation committee (see the section on Theses and Dissertations ).

Student Teaching

Teaching experience is considered an integral part of the training of graduate students. As part of the general requirements for the PhD, all students are required to undergo training as an educator. This will include participating in seminars on educational techniques and hands-on teaching experiences through participation in didactic and small group teaching in the School of Pharmacy or the USC Price School of Public Policy.

Seminar Requirements

Every student is recommended to take and satisfactorily complete 4 units of research seminars chosen from ECON 693   , PMEP 698    or the equivalent. At least one of these seminars must be related to the student’s major field, and the same seminar may be taken more than once. Before completing the dissertation, it is recommended that the student present at least one original research paper in a seminar of his or her choice. This paper should typically consist of original results contained in the student’s dissertation.

Three electives at the 500 level or higher from the School of Pharmacy’s Health Economics Program and from the departments of economics, mathematical statistics, biometry, epidemiology, public administration, computer science or other relevant fields are required.

Pharmaceutical Economics and Policy Track

Students in the pharmaceutical economics and policy track will specialize in areas such as cost-effectiveness, comparative effectiveness, drug therapy outcomes and organization of pharmaceutical markets. They will receive focused training and mentoring in pharmaceutical economics and policy through collaboration on research projects.

Satisfactory completion of the pharmaceutical economics and policy sequence with an average grade of B or higher

• PMEP 527 Pharmacoeconomics III Units: 4
• PMEP 539 Economic Assessment of Medical Care Units: 4

The student is required to register for 2 units of PMEP 790    and write a research paper on a topic suitable for a dissertation. Typically, the chair of the student’s guidance committee directs this work. The resulting essay becomes part of the student’s written dissertation proposal, which constitutes the written portion of the qualifying exam. This proposal is presented and critiqued during the oral portion of the qualifying examination.

Every student is recommended to take and satisfactorily complete 4 units of research seminars chosen from PMEP 698    or the equivalent. At least one of these seminars must be related to the student’s major field and the same seminar may be taken more than once. Before completing the dissertation, it is recommended that the student present at least one original research paper in a seminar of his or her choice. This paper should typically consist of original results contained in the student’s dissertation.

A minimum of three electives at the 500 level or higher from the School of Pharmacy’s Pharmaceutical Economics and Policy Program and from the departments of economics, mathematical statistics, biometry, epidemiology, public administration, computer science or other relevant fields are required.

List of Electives

• ECON 401 Mathematical Methods in Economics Units: 4
• ECON 415 Behavioral Economics Units: 4
• ECON 419 Advanced Econometrics Units: 4
• ECON 500 Microeconomic Analysis and Policy Units: 4
• ECON 513 Practice of Econometrics Units: 4
• ECON 601 Microeconomic Theory I Units: 4
• ECON 603 Microeconomic Theory II Units: 4
• ECON 604 Game Theory Units: 4
• ECON 611 Probability and Statistics for Economists Units: 4
• ECON 615 Applied Econometrics Units: 4
• ECON 688 Empirical Industrial Organization Units: 4
• HCDA 506 Foundations of Insurance and Global Access Units: 3
• HCDA 507 Foundations of Product Development and Commercialization Units: 3
• MEDS 500 Basic Concepts in Global Health Units: 4
• PM 510L Principles of Biostatistics Units: 4
• PM 511aL Data Analysis Units: 4
• PM 511bL Data Analysis Units: 4
• PM 511cL Data Analysis Units: 4
• PM 512 Principles of Epidemiology Units: 4
• PM 523 Design of Clinical Studies Units: 3
• PM 536 Program Evaluation and Research Units: 4
• PM 552 Statistical Methods in Clinical Trials Units: 3, 2 years
• PM 560 Statistical Programming With R Units: 2
• PSYC 426 Motivated Behaviors and Addiction Units: 4

Finance PhD Program

The finance Ph.D. program is designed to prepare students for academic careers in financial economics. Financial economics is the study of how individuals and firms raise and invest resources, and how financial assets are priced. Specific topics in asset pricing include the determinants of asset returns, pricing of risk, behavior of investors, and trading mechanisms. Specific topics in corporate finance include capital structure, payout policy, financial intermediation, internal capital markets, venture capital, mergers and acquisitions, and corporate governance.

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Requirements

Sample Schedule

• GSBA 602. Selected Issues in Economic Theory I
• GSBA 604. Regression and Generalized Linear Models for Business Research
• Elective(s)
• GSBA 612. Selected Issues in Economic Theory II
• FBE 630. Fundamentals of Corporate Finance
• FBE 633. Fundamentals of Asset Pricing
• [Statistics or research design]

Students are assigned a faculty mentor upon entering the program. The faculty mentor advises the student on course selection and as appropriate involves the student in a research project. During the first summer, each student conducts a supervised reading of the literature and prepares a research proposal or study.

• FBE 631. Advanced Corporate Finance
• FBE 634. Advanced Asset Pricing
• FBE 670. Selected Topics in Finance Research #1
• FBE 670. Selected Topics in Finance Research #2
• GSBA 690. Tutorial on the Research Process
• BUCO 637. Communication for Doctoral Students
• Paper #2 (Screening Exam)

Students spend much of the second year developing and producing an independent study. The study is submitted to the program at the end of the summer, and serves as the qualifying exam for the second year.

• FBE 670. Selected Topics in Finance Research #3-#N
• Dissertation proposal (USC Qualifying Exam)
• Dissertation proposal
• GBSA 794. Doctoral Dissertation
• Job Market Paper
• GSBA 794. Doctoral Dissertation
• Dissertation

Job Market Candidates

The program maintains a supportive and collegial environment that fosters collaboration between faculty members and PhD students. All students are assigned one or more faculty mentors for the duration of their studies, and faculty members are actively engaged in supervision of student research.

PhD Students

Federica ansbacher.

• PhD Student in Finance and Business Economics

Wenqian (Winston) Chen

Gayoung koo, applying to the phd program, dates + deadlines.

December 15, 2023: Application Deadline - Accounting, Data Sciences & Operations, and Management & Organization* 

January 15, 2024: Application Deadline - Finance & Business Economics and Marketing 

The link to the PhD Program application is available on the Admissions page and the next opportunity to apply is for Fall 2024 admission. Late applications may or may not be considered at the discretion of the admissions committee. 

Admissions decisions are made from mid-February to mid-April. You will be notified by email when a decision has been made.

ADMISSIONS CONTACT

Ph.D. Program USC Marshall School of Business 3670 Trousdale Parkway, BRI 306 Los Angeles, California 90089-0809 EMAIL

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• Admission and Financial Aid
• Requirements for Degree Completion

Admission Requirements

Graduates with PharmD, MD, MPH, and master’s or bachelor’s degrees in economics, statistics, computer science, mathematics and other related fields are invited to apply for this PhD program.

The Department’s Graduate Review Committee for the PhD program considers applications based on the following conditions:

Graduate Record Examination (GRE) Score

The Health Economics program requires applicants to submit GRE scores.  There is no set minimum score required for admission, and GRE scores are considered in conjunction with all other parts of the application.

Overall Grade Point Average (GPA)

A minimum overall GPA of 3.0 (A=4.0) is required. Special attention may be given to the grades achieved most recently in courses relevant to the program (e.g., statistics, economic analysis, health economics and quantitative analysis).

Letters of Recommendation

Three reference letters from faculty or supervisors knowledgeable of the applicant’s academic performance and intellectual capability are required. These letters should provide a thorough assessment of the applicant’s experience in research, motivation and potential development capacity and creativity as an academic scholar.

English-Language Proficiency Test Scores for International Applicants

The minimum TOEFL score is 100 for the internet-based test (IBT) or an IELTS score of 7, with at least 6 on each band. Higher scores are given priority for consideration of teaching and research assistantship should funds for this form of financial support become available.

Official Transcripts

Official transcripts from  all  institutions attended. Upload copies of official transcripts to the online application system. Mail  official transcripts  to the USC Office of Graduate Admission. 

Financial Aid

A limited number of fellowships and other special financial aid awards are available, on a competitive basis, to applicants who apply by  December 1 . Students applying for standard financial-aid packages (teaching assistantships, tuition remission, living stipends) must apply by  January 15 ( 11:59:59 pm Pacific Time ) . Teaching and research assistantship appointments provide a stipend plus full remission of tuition fees at 12 credits per semester. Other limited sources of support, including department research funds, may be available depending upon external grants awarded.

All financial awards are granted to excellent candidates based on competitive academic records.

What are you looking for?

Department of economics.

The USC Dornsife Department of Economics is a dynamic environment for research, teaching, and studying. Academic excellence is informed by taking economic research beyond traditional boundaries, often collaborating with other disciplines. Our research ranks among the Top 20 (#12) U.S. academic institutions, and we are deeply committed to bringing creativity and critical thinking to some of the most pressing current challenges in society.

Our distinguished faculty members tackle exciting economic questions:

Theory group.

Analyzes how markets can be designed to improve equitable and efficient outcomes for all, including children and adolescents, and the strategic aspects of game theory in public policy and business.

Applied Economics Group

Studies the consequences of climate change on globalization, migration, financial risks, and urban dynamics; the impact of labor market policies; and the underpinnings of productivity, growth, and state capacity in developing countries.

Macroeconomics Group

Studies the link between macro-financial cycles, financial crises, and inequality to better understand the long-run risks of widening income and wealth gaps.

Econometrics Group

Ranked 5th worldwide, is creating new methods for analyzing the explosions of Big Data with special emphasis on causal relationships rather than just improving forecasts.

Undergraduate Studies

The undergraduate program in economics teaches students to think critically and become creative problems solvers. Students learn to utilize economic theory to better understand and shape social practices, political policy, financial marketplaces, and business models.

Master’s Studies

This robust Master’s program offers students the unique opportunity to master core knowledge of economic theory while advancing their applied knowledge in the following specialization tracks: Economic Policy and Development, Big Data Econometrics, Economic Consulting, Behavioral Economics and Financial Economics.

Doctoral Studies

This program is designed to prepare students for careers in teaching, research, industry, and government. The Department emphasizes economic theory and econometrics, applied economic analysis, including microeconomics, macroeconomics, international and development economics, behavioral economics, urban, and regional economics.

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