TYPICAL ECONOMICS PHD PROGRAM STRUCTURE AT PROGRAMS IN THE UNITED

STATES

Dr. Laura Dawson Ullrich

March 27, 2014

STANDARD ADMISSIONS REQUIREMENTS

Grade Point AverageRequirement varies, but most require a GPA

of greater than 2.75

GRE/GMATFocus is on the quantitative portion of the

exam

TOEFL (for international students)

English Speaking Exam (for international students)

STANDARD ADMISSIONS REQUIREMENTS

Math Courses Varies by school, but typically includes…

Calculus I Calculus II Calculus III Linear Algebra Differential Equations Statistics

THREE STAGES OF US PHD PROGRAMS

Stage 1: Core ClassesCulminates in comprehensive exams at the

end of the first year in micro, macro, and sometimes econometrics

Stage 2: Field CoursesCulminates in field exams, a field paper

and/or oral exams

Stage 3: The DissertationGenerally a 2-3 year process of writing and

research

FUNDING OF PHD STUDENTS

Unlike in many other countries, the vast majority of Economics PhD students in the US receive full funding of their studies80 – 90 percent

These packages generally include the following:Full tuition paymentWaiver of most/all student feesA stipend received in exchange for 20 hours

worked as a teaching or research assistant. Range somewhere between $13,000 and

$25,000 per year.

A SPECIFIC EXAMPLEUNIVERSITY OF TENNESSEE

Located in Knoxville, Tennessee 21,171 students

(21,033 undergraduate and 6,138 graduate)

11 Colleges 300+ Academic Programs

UTK ECONOMICS PHD Facts about the Economics Department

25 Faculty 6 Full Professors 8 Associate Professors 6 Assistant Professors 5 Lecturers

Administers 3 Undergraduate Degrees BA in Economics (Arts and Sciences) BBA in Economics (Business School) BBA in Public Administration (Business School)

36 Graduate Students Includes both Master’s and PhD No terminal Master’s program Over 50% of students are international

UTK ECONOMICS PHD Admissions Facts (from 2013 entering

class)Acceptance Rate: 37%Number of Students Offered Funding: 22Number Enrolled with Funding: 9Mean GPA: 3.7Mean GRE – Math: 163 (88th percentile)Mean GRE – Verbal: 158 (77th percentile)

UTK ECONOMICS PHD Required Coursework at a Glance:

Core: 21 Hours Fields of Specialization: 12 Hours Economics Electives: 6 Hours Graduate Electives: 9 Hours Dissertation: 24 Hours

Total 72 Hours (minimum of 8 semesters)

UTK ECONOMICS PHDFirst Year

Semester 1:Mathematical Methods and Economics

(offered during pre-semester “math camp”)Microeconomic Theory IMacroeconomic Theory IElements of Econometrics

Semester 2:Microeconomic Theory IIMacroeconomic Theory IIElements of Econometrics II

UTK ECONOMICS PHDComprehensive Exams

At the end of the first year, students must take comprehensive exams in macroeconomics and microeconomics

Students take exams in June following the first year

Students can receive a grade of fail, pass at MA level, or pass at PhD level

Students who fail must retake the exam(s) again in August

If they fail the second time they are dismissed from the PhD program (but may continue in the MA program if course grades are satisfactory).

UTK ECONOMICS PHDSecond Year

Students begin field courses and electives. Four fields are offered. Each field course is offered every other year. Public Finance Environmental Economics International Economics Industrial Organization

Semester 1: Field Course I Microeconometrics Elective I

Semester 2: Field Course II Time Series Econometrics Elective II

UTK ECONOMICS PHDSecond Year “Field Paper”

Students must write a field paper in their second year, which is due July 29th following the second year.

Students who do not ‘pass’ the field paper can resubmit the following December 1st

Students are encouraged to work with an advisor who will become their dissertation advisor

Goal is to produce a publishable paper

UTK ECONOMICS PHDThird Year

Continuation of Field Courses and Electives

Semester 1:Second Field Course IElective IIIElective IV

Semester 2:Second Field Course IIElective V

UTK ECONOMICS PHDFourth Year

Dissertation committee is formed 4 committee members

3 from Economics Department and 1 from outside Primary advisor must be tenured (faculty members

typically have no more than 2 PhD students at a time)

Dissertation proposal is defended

Attend conference(s)

Participate in research seminars

UTK ECONOMICS PHDFifth Year

Finish writing dissertation

Enter job market on October 1st

Attend conference(s)

Participate in seminars

UTK ECONOMICS PHD Funded students can receive funding for five years.

Students may appeal to received funding for a sixth year.

Students are assigned as teaching assistants, teaching associates or research assistants “Better” jobs exist in the Center for Business and

Economic Research, the Howard Baker Center and a couple of other university centers

Students receive $17,000 payment a year and also receive free health insurance Including tuition waiver, this is a benefit of around

$40,000 per year

Students must maintain a GPA of 3.25 to maintain funding.

UTK ECONOMICS PHD Professors in the US tend to have an

‘open door’ policy, so students have significant access to advisor(s).

Each graduate student is provided with an office (shared) as well as a computer and other office supplies.

Students have access to a 31 page Graduate Student Handbook that outlines all program requirements/guidelines.