Course List Code | Title | Credits |
---|
Macroeconomics courses | |
| Macroeconomic Theory III | |
| Monetary Theory and Policy I | |
| Monetary Theory and Policy II | |
| Environmental Economics | |
| Econometrics III | |
| Economic Forecasting | |
| Laboratory in Applied Econometrics | |
| International Trade Theory | |
| International Finance and Open-Economy Macroeconomics | |
| International Financial Markets | |
| Advanced Special Topics | |
Microeconomics courses | |
| Microeconomic Theory III | |
| Environmental Economics | |
| Labor Economics I | |
| Labor Economics II | |
| Industrial Organization I | |
| Industrial Organization II | |
| Development Economics I | |
| Development Economics II | |
| Regional Economics | |
| Urban Economics | |
| Public Finance I | |
| Public Finance II | |
| Econometrics III | |
| Laboratory in Applied Econometrics | |
| International Trade Theory | |
| International Financial Markets | |
| Advanced Special Topics | |
General Examination
The general examination has three parts: two preliminary examinations taken in the first year—one in microeconomic theory and one in macroeconomic theory—and a research paper due in the sixth semester. To pass the general examination, students must earn a grade of Pass or Pass with Distinction on both preliminary examinations and on the research paper.
Students who earn a GPA of 3.0 or above in the microeconomic theory course sequence ( ECON 8301 and ECON 8302 ) are considered to have earned a grade of Pass on the preliminary examination in microeconomic theory; students who earn a GPA of 3.0 or above in the macroeconomic theory course sequence ( ECON 8305 and ECON 8306 ) are considered to have earned a grade of Pass on the preliminary examination in macroeconomic theory. Other students must sit the preliminary examinations at the end of the first year.
Students who do not earn a grade of Pass or Pass with Distinction on both preliminary examinations may, with departmental approval, retake one or both examinations before the start of the following semester. Both preliminary examinations must be passed by the second attempt.
Students are also required to earn a grade of Pass or Pass with Distinction on the research paper, which constitutes the second half of the general examination. Students must submit the research paper and deliver a presentation of the content to at least two faculty members for evaluation by the end of their sixth semester in the program. (Part-time students may submit the research paper later, subject to departmental approval.) Students who do not pass the research paper by the end of the sixth semester will receive an academic warning and must pass it by the end of the following semester.
Post-candidacy requirements
Post-candidacy requirements include successful completion of 24 credits at the 8000 level, the formulation of a dissertation proposal, a formal presentation of the proposal by the student to a prospective dissertation committee for approval (where approval of the proposal formalizes the creation of the dissertation committee), and completion of a dissertation that demonstrates the candidate's ability to do original research as determined by the dissertation committee.
Students should successfully defend the dissertation proposal by the end of the eighth semester in the program. Students who do not successfully defend the dissertation proposal by the deadline will receive an academic warning and must successfully defend the proposal by the end of the following semester. Part-time students may defend later, subject to departmental approval.
The 24 credits must include a minimum of 6 credits in ECON 8999 Dissertation Research .
Once a student successfully completes the 72 credits required for the program, they must register for 1 credit in CCAS 0940 Continuing Research - Doctoral each subsequent fall and spring semester until they have successfully defended their dissertation to the dissertation oral examination committee, thereby completing the degree program.
Students may apply for the master of philosophy (MPhil) degree after successfully defending a dissertation proposal.
Time limits
The pre-candidacy stage must be concluded within six semesters of matriculation in the program; part-time students may conclude the pre-candidacy stage within ten semesters of matriculation, subject to departmental approval. Upon successful completion of pre-candidacy, students are considered for admission to candidacy, i.e., the dissertation stage. The dissertation stage must be completed within five years of entry into candidacy, or within eight years of matriculation in the program, whichever comes first.
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What are the differences between a PhD in Economics and a PhD in Finance?
Is the math background needed for both largely the same?
![phd economics vs phd econ Shield](https://economics.rice.edu/sites/g/files/bxs4046/files/2019-08/Shield.png)
PhD in Economics
The doctoral program in Economics at Rice University provides rigorous training in economic theory and econometrics in order to prepare students for research careers in economics. In 2014, the department launched the Rice Initiative for the Study of Economics (RISE) in order to enhance its role as a leading center of economic research. Since then, the department has hired ten new faculty. In addition, it has established itself as a leading institution for structural empirical microeconomics, an approach to economic analysis that combines economic theory and econometrics to address substantive economic issues. The small size of the program, approximately 45 graduate students working with 24 full-time faculty, promotes close faculty student interactions and collaboration, as well as strong relationships among the students.
Effective 2021-2022 academic year, all students receiving MA or PhD degrees in Economics will also receive Major Concentration in Econometrics and Quantitative Economics, and will be able to apply for a 24-month STEM extension of F-1 Optional Practical Training (OPT).
At a Glance
Full-time faculty working with students : 24
Students : 55 doctoral students
Number Admitted : 7-10 students each year
Fields of Study : Theoretical and Applied Econometrics, Applied Microeconomics, Economic Theory, Financial Economics, Game Theory, Political Economics, Energy Economics, Development Economics, Empirical Industrial Organization, Labor Economics, Macroeconomics, Public Finance, Health Economics.
Degrees awarded : PhD in Economics with a Major Concentration in Econometrics and Quantitative Economics (STEM designated) , Ph.D. in Economics with an M.A. in Statistics , and an additional Major Concentration in Finance . An M.A. degree is awarded to students pursuing Ph.D. in Statistics when they complete the requirements for M.A. in Economics with a Ph.D. in Statistics . It is also awarded to students who complete all the requirements for the Ph.D. in Economics working toward their dissertation.
Learn More about the Economics Doctorate Program
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College of Arts & Sciences
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Ph.D. Program
Welcome to the phd program.
The Georgetown University Economics Ph.D. program is a full-time program designed for students who seek research careers at the forefront of economic science. The Ph.D. program provides an excellent training environment for future scholars. Located in the nation’s capital, it is ideally situated for both students specializing in pure science and those who wish to study policy informed by science.
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Main Contacts
- Julius Shapiro serves as the PhD Program Coordinator. Please contact him first with any questions related to the PhD Program.
- Professor Toshihiko Mukoyama serves as Director of Graduate Studies and is responsible for the PhD Program.
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- How to Prepare for a Ph.D. in Economics
First Steps
- 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.
- Why earn a PhD in Economics?
- Talking to a UCSD grad: ECONnected
PhD in Economics
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PhD students take 16 courses, roughly half of which are spent acquiring the core analytic tools of the profession (microeconomics, macroeconomics, and quantitative methods), with the balance spent applying those tools in particular fields of specialization. All PhD students must complete a doctoral dissertation (thesis).
The PhD in Economics is a STEM designated degree program.
View the complete PhD Rules here
Program Requirements
Doctoral students must complete a minimum of 16 semester courses (64 credits). They are required to successfully complete the core courses by the end of the first year.
Theory and Quantitative Core Requirements
These core courses must be passed by the end of the first year with a grade of at least B- in each course.
- EC 701 Advanced Microeconomics I (4 credits)
- EC 702 Advanced Macroeconomics I (4 credits)
- EC 703 Advanced Microeconomics II (4 credits)
- EC 704 Advanced Macroeconomics II (4 credits)
- EC 707 Advanced Statistics for Economists (4 credits)
- EC 708 Advanced Econometrics I (4 credits)
Students must also take EC 705 Mathematical Economics in the first semester, unless a waiver is granted, and EC 709 Advanced Econometrics II (4 credits) in the third semester.
In addition, students must pass a qualifying examination in both microeconomics and macroeconomics. Students have at most three opportunities to take the qualifying examinations; failing may result in termination from the PhD program.
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Field Requirements
All students must pass 2 2-course fields, each with a minimum grade average of B.
In addition, students must take at least 2 other courses. The following fields are generally offered each year:
- Development
- Econometrics
- Economic Theory
- Empirical Finance
- Financial Econometrics
- Industrial Organization
- International Economics
- Labor Economics
- Money/Macroeconomics
- Public Economics
GPA Requirements
All courses must be passed with a grade of B– or higher. An overall grade point average (GPA) of 3.0 must be attained in all courses taken after enrollment in the Graduate School of Arts & Sciences.
Time Requirement
The PhD program is designed so that a typical student can complete all requirements within 5 to 6 years. International students may be subject to additional restrictions imposed by the terms of their visas, as governed by the International Students & Scholars Office (ISSO).
Students are expected to meet the following milestones each year:
By the end of the 1st year:
- Finish and pass all core first-year courses, as well as EC 705 (unless exempted through placement exam).
- Sit for the first attempt at the micro and macro qualifying exams in June. The second attempt, if necessary, is in August.
By the end of the 2nd year:
- Pass EC 709, a required course in Advanced Econometrics.
- Continue and, if possible, complete remaining coursework, including a two-course sequence in each of two fields. A B average (3.0) is required in each of the field course sequence.
- Achieve an overall GPA of at least 3.0.
- If both qualifiers are not passed, the third and final attempt is in June of the second year.
- Each student must prepare a research paper during the second year and the following summer. By April 1 of the second year, the student must ask a faculty member to serve as an advisor on this paper; have this faculty member agree to serve in this manner; and inform the DGS of the topic of the paper and the advisor’s name. The paper is due in the third year as described below.
By the end of the 3rd year:
- Submit the second-year paper by October 1. By October 15, the faculty advisor must provide (i) a grade for the paper; and (ii) a brief written evaluation the paper. These documents will be sent to the DGS and the student. A student must receive a passing grade on the research paper.
- Complete all coursework with GPA of at least 3.0.
- Continue work on research for the dissertation.
- Attend and present at least annually in one of the research workshops until completion of all degree requirements.
Years 4, 5, and (if necessary) 6:
- Student carries out thesis research, defending the thesis no later than the end of the sixth year.
Dissertation
Under the supervision of two faculty advisers, a student prepares a dissertation proposal for presentation at a proposal seminar. If the proposal is approved, the student proceeds to research and write the dissertation. When the dissertation is completed, the student must defend it at a final oral examination. The Graduate School of Arts & Sciences requires that the dissertation be completed within seven years of initial enrollment in the program.
For more details, view the complete PhD Rules here and check out our past PhD Placements here .
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The Doctor of Philosophy is a research degree. It signifies that the recipient is able to conduct independent research and has both a broad basic knowledge of all areas of economics and a comprehensive knowledge of one area in particular. The Ph.D. program equips its graduates with modern economic techniques, enabling them to take leadership positions in economic research in the academic, business, and government worlds.
The Department of Economics has risen to prominence in recent years by attracting internationally renowned scholars to its faculty and by carefully selecting its student body. There are many reasons to believe that we can offer students an outstanding intellectual environment. Seven members of our department are Fellows of the Econometric Society, and one is a Nobel Laureate. Many currently serve or have served on the editorial boards of major journals, including the American Economic Review , Econometrica , the Review of Economic Studies , and the Journal of Economic Theory . Perhaps most significantly, the department placed among the top ten in the Tilburg University ranking of economics departments.
ADMISSION REQUIREMENTS
Admission to graduate studies in economics is limited to students of outstanding promise. All applicants must submit scores from Graduate Record Examination (GRE), which is administered by the Educational Testing Service, Princeton, N.J. 08540, to complete their application and be considered for admissions. All international students must take the TOEFL (Test of English as a Foreign Language) examination or the IELTS (International English Language Testing System). Exceptions to this rule include students who attended English speaking college-level institutions. Students from English speaking countries, such as the U.K. or Ireland are also exempt from taking the TOEFL or IELTS exams.
The Ph.D. program is designed for full-time students only. In evaluating applicants for this program, members of the departmental admissions committee consider the following criteria: previous academic performance, quantitative GRE scores, letters of recommendation, personal statement, and background in economics and mathematics. Because of the diverse nature of such information, we do not adhere to strictly defined cut-off points on grade-point averages or GRE scores. Applicants should also remember that the Ph.D. and the M.A. programs are very different and have different objectives and admissions criteria. Admission into the M.A. program does not guarantee eventual admission to the Ph.D program. Those interested in the Ph.D. program are encouraged to apply directly to the Ph.D. program, and not to the M.A. program.
DEPARTMENTAL FELLOWSHIPS, PRIZES, AND AWARDS
There are various sources of funding for students in the Ph.D. program. Our top students receive MacCracken fellowship awards. These fellowships guarantee funding for five years (subject to satisfactory academic performance) in the form of payment of the basic tuition fee as well as a living allowance for the year. Many other students work as teaching adjuncts, sometimes assisting a professor and sometimes teaching a course of their own. Many professors also have research grants from a variety of sources (National Science Foundation, C.V. Starr Center, etc) which provide research assistantships (R.A.'s) to graduate students.
REQUIREMENTS FOR A Ph.D.
Program Requirements
Field Requirements
Assessing Progress in the Economics PhD Program
Responsible Conduct of Research
Graduate Handbook
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- Requirements and Deadlines for Applying to the Economics PhD Program
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- NYU Economics Alumni Club
- Instructions for Visiting PhD Students
- Preliminary Oral Defense Form
- P.h.D. Fall 2020 Curricular Plan
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Calculating ROI: Getting Your Master’s vs. PhD in Economics
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No matter what field they study, prospective graduate students should always consider the value of their degree. As a potential graduate economics student, you’re likely familiar with the term return on investment or ROI — the ratio used to calculate the efficiency of an investment or compare the efficiency of several different investments.
Though there’s no cut-and-dry way to determine the value of a graduate degree , there are some important numbers and factors to consider when determining which degree will be most valuable to you.
The overall ROI of any graduate degree comes down to:
- the type of job you want,
- the school you attend,
- the degree you pursue,
- your program length
- and available financial assistance.
Want to know more about graduate funding opportunities at SMU? Learn how the Moody School of Graduate and Advanced Studies is reducing financial barriers to earning a graduate degree thanks to a $100 million commitment from the Moody Foundation.
PhD in Economics Salary
The most important factor to consider first is the type of job you want. Most of the time, a Master’s degree opens the door to more advanced positions in the same types of jobs you can get with a Bachelor's degree. But, a PhD opens the door to jobs in the private sector, academia, government, think tanks and international organizations. Remember, on average, a PhD economist has a 34% higher salary than a Master’s economist.
Next, you need to consider cost. Economics PhD students, including our SMU students, have a full tuition waiver and a stipend to cover living costs. So, the only cost is lost wages from the job you would otherwise have. On the other hand, an Economics Masters's degree takes 2 years or less but the average cost of a master’s degree in the U.S. is $66,340.
You need to weigh up these costs and benefits to know the return on investment for you of pursuing an advanced degree in economics.
What Can I Do with a PhD in Economics?
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.
Economics PhDs specialize in areas like labor economics, macroeconomics, industrial organization, or international economics and pursue careers within that specialization. For example, institutions like the World Trade Organization (WTO) — the international trade body — the International Monetary Fund (IMF) or the World Bank might seek to hire economists who have specialized in international economics.
- The Federal Reserve Bank system hires lots of PhD macroeconomists.
- Government agencies like the Federal Trade Commission hire PhD economists specializing in industrial organization.
- The Census Bureau hires lots of PhD economists specializing in fields like labor economics.
These complex, high-profile positions are often found in the corporate sector or government and frequently involve exploring regulatory, strategic or public policies.
In addition to jobs in government and industry, academic economists play leading roles in the development of new ideas in economics and hold faculty positions in a variety of academic settings.
Explore Economics at SMU
The Department of Economics at Southern Methodist University (SMU) is highly ranked among economics departments in the United States and offers comprehensive coverage of the major fields in modern economics. For more than 55 years the department has prepared PhD candidates for careers as economists in both academic and non-academic positions.
Ready to find out what you can do with a PhD in Economics?
Download our guide
The Economy of Everything: Why You Need a PhD in Economics, today to open new doors in your economics career.
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MRes/PhD Economics
- Graduate research
- Department of Economics
- Application code L1U4
- Starting 2024
- Home full-time: Closed
- Overseas full-time: Closed
- Location: Houghton Street, London
This programme offers you the chance to undertake a substantial piece of work that is worthy of publication and which makes an original contribution to the field of economics. You will begin on the MRes degree, and will need to meet certain requirements to progress to the PhD.
The Department of Economics pioneered the development of systematic research training in economics in Britain and our MRes/PhD Economics aims for the highest international standard of achievement and professional competence. The programme offers structured research training and supervision by faculty prominent in their fields. It begins with two years of rigorous coursework, equipping you with the theoretical knowledge and analytical techniques necessary to proceed to the research component of the programme.
Many research students are associated with the work of one of LSE's research centres. You could work with the Suntory and Toyota International Centres for Economics and Related Disciplines on areas ranging from development economics to public policy; or on research technology, growth and globalisation as part of the Centre for Economic Performance . You could contribute to major research programmes addressing the key issues of unemployment, inflation, fiscal and monetary policy, macroeconomic development and growth, financial markets, and changes in the world economy at the Centre for Macroeconomics ; or specialise in risk management, asset pricing, financial institutions and corporate finance as part of the Financial Markets Group .
Programme details
Start date | Introductory course in Mathematics and Statistics begins in August 2024 |
Application deadline | |
Duration | Five to six years full-time: two years MRes, three to four years PhD. Please note that LSE allows part-time PhD study only under limited circumstances. Please see for more information. If you wish to study part-time, you should mention this (and the reasons for it) in your statement of academic purpose, and discuss it at interview if you are shortlisted. |
Financial support | LSE PhD Studentships, ESRC funding, departmental scholarships (see 'Fees and funding') |
Minimum entry requirement | 2:1 degree or equivalent in any field, along with some preparation in economics, a strong mathematics background and evidence of research potential |
GRE/GMAT requirement | GRE is required for all applicants (see for further information and exceptions) |
English language requirements | Standard (see 'Assessing your application') |
Location | Houghton Street, London |
For more information about tuition fees and entry requirements, see the fees and funding and assessing your application sections.
Entry requirements
Minimum entry requirements for mres/phd economics.
An upper second class honours (2:1) degree (or equivalent) in any field. Some preparation in economics, a strong mathematics background and evidence of research potential are essential. The goal of the MRes/PhD Economics is to train first class researchers. We will use all available information to assess research potential.
Competition for places at the School is high. This means that even if you meet our minimum entry requirement, this does not guarantee you an offer of admission.
If you have studied or are studying outside of the UK then have a look at our Information for International Students to find out the entry requirements that apply to you.
GRE/GMAT requirement
GRE is required for all applicants. This must be no more than five years old on 1 October 2024 and must show full and percentile scores for all three sections. Most successful MRes/PhD Economics applicants score 166 or above in the quantitative section.
Find out more about GRE/GMAT
Assessing your application
We welcome applications for research programmes that complement the academic interests of members of staff at the School, and we recommend that you investigate staff research interests before applying.
We carefully consider each application on an individual basis, taking into account all the information presented on your application form, including your:
- academic achievement (including existing and pending qualifications) - statement of academic purpose - references - CV - research statement - GRE/GMAT
See further information on supporting documents
You may also have to provide evidence of your English proficiency. You do not need to provide this at the time of your application to LSE, but we recommend that you do. See our English language requirements for further information.
When to apply
The application deadline for this programme is 14 December 2023 . However, to be considered for any LSE funding opportunity, you must also have submitted your application and all supporting documents by this deadline. See the fees and funding section for more details.
Research statement
An application for entry to the MRes/PhD Economics should include a Research Statement, along with other required information (Note: A separate sample of written work is not required as part of the MRes/PhD Economics application).
What should my Research Statement contain?
Your Research Statement should be submitted in place of the Outline Research Proposal, along with your application form and other required supporting documents, via the LSE online application system.
Please answer the following questions clearly and concisely. Max 200 words per question.
- Why do you want to do research in economics?
- Can you explain how your studies and experience make you suitable to do research in economics?
- Which aspect of the PhD do you think you will like the most? Which will you dislike the most? Why?
- Tell us about your favourite paper in economics. What do you like about it? How would you improve it?
- Write a comment for a general audience on ONE of the following topics (i) Is inequality good for growth? (ii) Do immigrants take the jobs of native workers? (iii) Is CEO compensation excessive? (iv) Is universal minimum income a good idea? (v) Overall, has central banks' move to inflation targeting has been a success? (vi) Is culture an important determinant of differences in income per capita across countries? (vii) Markets function well as information is aggregated efficiently through prices. (viii) Elections are effective at disciplining politicians who do not have the public interest as their main goal.
How can I demonstrate research potential?
If you have served as research assistant for an economist please ask that person to write a letter focussing on your research skills and describe your experience – reference point 2 (above) of the research statement.
If not, please list any evidence you think would be valuable. Examples include but are not restricted to: experience working autonomously under stress without any guidance, demonstration of creativity in any form, experience of writing original research.
Fees and funding
Every research student is charged a fee in line with the fee structure for their programme. The fee covers registration and examination fees payable to the School, lectures, classes and individual supervision, lectures given at other colleges under intercollegiate arrangements and, under current arrangements, membership of the Students' Union. It does not cover living costs or travel or fieldwork.
Tuition fees 2024/25 for MRes/PhD Economics
Home students: £4,786 for the first year Overseas students: £22,632 for the first year
The fee is likely to rise over subsequent years of the programme. The School charges home research students in line with the level of fee that the Research Councils recommend. The fees for overseas students are likely to rise in line with the assumed percentage increase in pay costs (ie, 4 per cent per annum).
The Table of Fees shows the latest tuition amounts for all programmes offered by the School.
The amount of tuition fees you will need to pay, and any financial support you are eligible for, will depend on whether you are classified as a home or overseas student, otherwise known as your fee status. LSE assesses your fee status based on guidelines provided by the Department of Education.
Further information about fee status classification.
Scholarships, studentships and other funding
The School recognises that the cost of living in London may be higher than in your home town or country, and we provide generous scholarships each year to home and overseas students.
This programme is eligible for LSE PhD Studentships , and Economic and Social Research Council (ESRC) funding . Selection for the PhD Studentships and ESRC funding is based on receipt of an application for a place – including all ancillary documents, before the funding deadline.
For the MRes/PhD Economics, the funding deadline is the same as the application deadline for the programme: 14 December 2023
The Economics Department also has a number of scholarship packages for direct entry MRes/PhD students. After the first year of the MRes/PhD Economics, there are teaching and research assistantships available in the Department. Read more about funding opportunities through the Economics Department .
In addition to our needs-based awards, LSE also makes available scholarships for students from specific regions of the world and awards for students studying specific subject areas. Find out more about financial support.
External funding
There may be other funding opportunities available through other organisations or governments and we recommend you investigate these options as well.
Further information
Fees and funding opportunities
Information for international students
LSE is an international community, with over 140 nationalities represented amongst its student body. We celebrate this diversity through everything we do.
If you are applying to LSE from outside of the UK then take a look at our Information for International students .
1) Take a note of the UK qualifications we require for your programme of interest (found in the ‘Entry requirements’ section of this page).
2) Go to the International Students section of our website.
3) Select your country.
4) Select ‘Graduate entry requirements’ and scroll until you arrive at the information about your local/national qualification. Compare the stated UK entry requirements listed on this page with the local/national entry requirement listed on your country specific page.
Programme structure and courses
Introductory course (mres).
In early September, before the academic year commences, you will begin your degree programme by taking the Introductory Mathematics and Statistics course.
First year (MRes)
In the first year of the programme you will take advanced core courses in microeconomics, macroeconomics and econometrics, to equip you with the theoretical knowledge and analytical techniques necessary for research. Permission must be obtained to sit Econometric Analysis as it is intended for students with a strong econometric background and an interest in pursuing a PhD with econometrics as the primary field.
Microeconomics for MRes students Introduces the basic analytical tools that are necessary to conduct research in any field in economics.
Macroeconomics for MRes students Covers topics in advanced macroeconomics with emphasis on fundamentals and applications to recent theoretical advances. Either Econometrics for MRes students Covers inference, classical and generalised linear regression, generalised regression methods, time-series, panel-data, and microeconometric methods, and specialised econometric methods. Or Econometric Analysis Gives an advanced treatment of the theory of estimation and inference for econometric models.
Second year (MRes)
In the second year, you will typically take two PhD field courses and write a research paper in your major field. Currently, there are economics PhD field courses covering: econometrics, international, labour, public, development, industrial, microeconomics, macroeconomics, political economy. In addition, there are PhD field courses offered in Corporate Finance and Asset Pricing. From the second year onwards, you will also participate in a departmental research seminar and a work in progress seminar allied to your major research field.
Research Paper in Economics A research paper, between 5,000 and 10,000 words, related to the student's designated major field, to be submitted mid-way through the Spring Term.
Two courses from a range of options
Upon successfully completing the MRes and progressing to the PhD, you will work on your research and write your PhD thesis. You will also take one further PhD field course. You will also attend Work in Progress seminars, where you present your research, as well as the weekly departmental seminar series closest to your major field.
One course from a range of options.
Second and subsequent years of the PhD programme
You will continue to work on your research and write a PhD thesis. You will also continue to attend Work in Progress seminars, where you present your research, as well as the weekly departmental seminar series closest to your major field.
For the most up-to-date list of optional courses please visit the relevant School Calendar page .
You must note, however, that while care has been taken to ensure that this information is up to date and correct, a change of circumstances since publication may cause the School to change, suspend or withdraw a course or programme of study, or change the fees that apply to it. The School will always notify the affected parties as early as practicably possible and propose any viable and relevant alternative options. Note that the School will neither be liable for information that after publication becomes inaccurate or irrelevant, nor for changing, suspending or withdrawing a course or programme of study due to events outside of its control, which includes but is not limited to a lack of demand for a course or programme of study, industrial action, fire, flood or other environmental or physical damage to premises.
You must also note that places are limited on some courses and/or subject to specific entry requirements. The School cannot therefore guarantee you a place. Please note that changes to programmes and courses can sometimes occur after you have accepted your offer of a place. These changes are normally made in light of developments in the discipline or path-breaking research, or on the basis of student feedback. Changes can take the form of altered course content, teaching formats or assessment modes. Any such changes are intended to enhance the student learning experience. You should visit the School’s Calendar , or contact the relevant academic department, for information on the availability and/or content of courses and programmes of study. Certain substantive changes will be listed on the updated graduate course and programme information page.
Supervision, progression and assessment
Supervision.
You will be assigned a lead supervisor (and a second supervisor/adviser) who is a specialist in your chosen research field, though not necessarily in your topic. Lead supervisors guide you through your studies.
Progression and assessment
In order to progress to each subsequent year of the programme, and to progress to PhD registration, you will need to meet specific progression requirements, such as achieving certain grades in your coursework.
Your final award will be determined by the completion of an original research thesis and a viva oral examination.
More about progression requirements
Student support and resources
We’re here to help and support you throughout your time at LSE, whether you need help with your academic studies, support with your welfare and wellbeing or simply to develop on a personal and professional level.
Whatever your query, big or small, there are a range of people you can speak to who will be happy to help.
Department librarians – they will be able to help you navigate the library and maximise its resources during your studies.
Accommodation service – they can offer advice on living in halls and offer guidance on private accommodation related queries.
Class teachers and seminar leaders – they will be able to assist with queries relating to specific courses.
Disability and Wellbeing Service – they are experts in long-term health conditions, sensory impairments, mental health and specific learning difficulties. They offer confidential and free services such as student counselling, a peer support scheme and arranging exam adjustments. They run groups and workshops.
IT help – support is available 24 hours a day to assist with all your technology queries.
LSE Faith Centre – this is home to LSE's diverse religious activities and transformational interfaith leadership programmes, as well as a space for worship, prayer and quiet reflection. It includes Islamic prayer rooms and a main space for worship. It is also a space for wellbeing classes on campus and is open to all students and staff from all faiths and none.
Language Centre – the Centre specialises in offering language courses targeted to the needs of students and practitioners in the social sciences. We offer pre-course English for Academic Purposes programmes; English language support during your studies; modern language courses in nine languages; proofreading, translation and document authentication; and language learning community activities.
LSE Careers – with the help of LSE Careers, you can make the most of the opportunities that London has to offer. Whatever your career plans, LSE Careers will work with you, connecting you to opportunities and experiences from internships and volunteering to networking events and employer and alumni insights.
LSE Library – founded in 1896, the British Library of Political and Economic Science is the major international library of the social sciences. It stays open late, has lots of excellent resources and is a great place to study. As an LSE student, you’ll have access to a number of other academic libraries in Greater London and nationwide.
LSE LIFE – this is where you should go to develop skills you’ll use as a student and beyond. The centre runs talks and workshops on skills you’ll find useful in the classroom; offers one-to-one sessions with study advisers who can help you with reading, making notes, writing, research and exam revision; and provides drop-in sessions for academic and personal support. (See ‘Teaching and assessment’).
LSE Students’ Union (LSESU) – they offer academic, personal and financial advice and funding.
PhD Academy – this is available for PhD students, wherever they are, to take part in interdisciplinary events and other professional development activities and access all the services related to their registration.
Sardinia House Dental Practice – this offers discounted private dental services to LSE students.
St Philips Medical Centre – based in Pethwick-Lawrence House, the Centre provides NHS Primary Care services to registered patients.
Student Services Centre – our staff here can answer general queries and can point you in the direction of other LSE services.
Student advisers – we have a Deputy Head of Student Services (Advice and Policy) and an Adviser to Women Students who can help with academic and pastoral matters.
Student life
As a student at LSE you’ll be based at our central London campus. Find out what our campus and London have to offer you on academic, social and career perspective.
Student societies and activities
Your time at LSE is not just about studying, there are plenty of ways to get involved in extracurricular activities . From joining one of over 200 societies, or starting your own society, to volunteering for a local charity, or attending a public lecture by a world-leading figure, there is a lot to choose from.
The campus
LSE is based on one campus in the centre of London. Despite the busy feel of the surrounding area, many of the streets around campus are pedestrianised, meaning the campus feels like a real community.
Life in London
London is an exciting, vibrant and colourful city. It's also an academic city, with more than 400,000 university students. Whatever your interests or appetite you will find something to suit your palate and pocket in this truly international capital. Make the most of career opportunities and social activities, theatre, museums, music and more.
Want to find out more? Read why we think London is a fantastic student city , find out about key sights, places and experiences for new Londoners . Don't fear, London doesn't have to be super expensive: hear about London on a budget .
Student stories
Hanwei Huang MRes/PhD Economics, 2018 China
![phd economics vs phd econ Hanwei Huang](https://www.lse.ac.uk/economics/Assets/Images/student-and-alumni-profiles/PhD/HanweiHuang172x228.jpg)
I am a PhD student studying economics in the LSE. I am also affiliated with the Centre of Economic Performance (CEP), one of the largest research centres in the LSE. My main research interest is international trade.
One thing that I have learned from the faculties is that economics is not just about mathematics, it should answer interesting economics questions. Over the past few years in the LSE, I have been conducting a few research related to China. This is not surprising given my Chinese origin. Given the anti-globalization current that we have been witnessing, it is also quite relevant to the academic and policy circle to understand how China has become a global manufacturing power house and the champion of global trade.
My work features a close link between theory and empirics, another lesson I have learned in the LSE. My first piece of work done in the LSE focuses on the evolving structure of Chinese production and export. My second paper, which is a joint work with my supervisor Professor Ottaviano, studies how Chinese exporter producing multiple products respond to competition due to comparative advantage. My current research project studies how the domestic infrastructure construction boom that has been taking place in China has enabled China to make better use of globalization.
The most exciting part of LSE is that we are seated near the centre of the UK policy-making. I am fortunate enough to be able to be on a team from the CEP which has been studying various issues related to Brexit. It is only by doing this bit of work that I have seen how LSE research has shaped the debate in the media and the UK parliament.
As a one of the largest economics departments in the world, with numerous seminars and visitors every week, you bump into various people all the time. You might run into a workshop introducing machine learning. You might also hear people talking about big data in the Bean Counter, where we have our coffee. And I am very glad to be one of them here.
Stephan Maurer MRes/PhD Economics, 2017 Germany
![phd economics vs phd econ Stephan Maurer](https://www.lse.ac.uk/economics/Assets/Images/student-and-alumni-profiles/PhD/StephanMaurer167x229.jpg)
I came to the LSE in 2011 after having completed my MSc in Economics at the Barcelona Graduate School of Economics. Already during my undergraduate studies in St. Gallen, I had gotten hooked to economics and to the idea of doing a PhD, and my time in Barcelona further confirmed this.
My research is in applied economics broadly, at the intersection of labour economics, political economy, and economic history. Economic history is for me both a tool and an end itself - I am interested in better understanding historical events, but I also frequently use exogenous variation provided by history to study questions in labour economics and political economy.
What I really like about research and the academic profession is that it offers a lot of freedom and allows me to work independently on a variety of issues. For example, I have studied determinants of city growth in Iron Age Europe, but also local economic effects of resource booms in the early 20 th century US South. I also enjoy teaching - during my time here, I have taught various courses and have found it very enriching. Being asked to explain concepts such that students can understand them often has deepened my own understanding. In this respect, I particularly enjoyed teaching in the MPA and MSc Programmes.
Research can also be frustrating. It involves a great deal of failed projects, ideas that do not materialize, and work that does not reap rewards. It is also very discontinuous - you can make great progress in few days, or feel like you’re banging your head against a wall for months. I was lucky to have two very dedicated supervisors to guide me through my PhD, helping me triage my ideas, strengthening my results by constantly questioning them, but also cheering me up when needed. My colleagues and friends at the LSE have also been a great help, not only but especially those from my cohort. Studying for the first year exams and going through the first research steps together has created a lot of cohesion and friendships that I am sure will continue to last for a long time.
After finishing my PhD, I will be joining the Department of Economics at the University of Konstanz as an Assistant Professor. I am very much looking forward to this new endeavour, but I will make sure to be back in London and at the LSE from time to time!
Preliminary reading
Readings are included in the respective course guides in the Calendar .
Quick Careers Facts for the Department of Economics
Top 5 sectors our students work in:
- Financial and Professional Services
- Education, Teaching and Research
- Government, Public Sector and Policy
- Consultancy
- Advertising, Marketing, PR Media, Entertainment, Publishing and Journalism
The data was collected as part of the Graduate Outcomes survey, which is administered by the Higher Education Statistics Agency (HESA). Graduates from 2020-21 were the fourth group to be asked to respond to Graduate Outcomes.
Students who successfully complete the programme often embark on an academic career. See information on the placements of previous students on this programme .
Further information on graduate destinations for this programme
Starting from the second year of the MRes, students are encouraged to undertake some class teaching in the Department, as this represents useful professional training. Additional information about teaching in the Department .
Support for your career
Many leading organisations give careers presentations at the School during the year, and LSE Careers has a wide range of resources available to assist students in their job search. Find out more about the support available to students through LSE Careers .
Find out more about LSE
Discover more about being an LSE student - meet us in a city near you, visit our campus or experience LSE from home.
Experience LSE from home
Webinars, videos, student blogs and student video diaries will help you gain an insight into what it's like to study at LSE for those that aren't able to make it to our campus. Experience LSE from home .
Come on a guided campus tour, attend an undergraduate open day, drop into our office or go on a self-guided tour. Find out about opportunities to visit LSE .
LSE visits you
Student Marketing, Recruitment and Study Abroad travels throughout the UK and around the world to meet with prospective students. We visit schools, attend education fairs and also hold Destination LSE events: pre-departure events for offer holders. Find details on LSE's upcoming visits .
How to apply
Virtual Graduate Open Day
Register your interest
Related programmes, msc econometrics and mathematical economics.
Code(s) L1UB
MSc Economics
Code(s) L1U1
MRes/PhD Finance
Code(s) N4ZC
MPhil/PhD Economic Geography
Code(s) L7ZQ
MPhil/PhD Environmental Economics
Code(s) L7ZR
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First, it was genuine. It wasn't a "why didn't I get into a Ph.D. program" rant, but a personal story told with thoughtful insights. In fact, my experience has been nearly identical, and I would encourage any undergraduate student considering pursuing a Ph.D. in economics to take this reader's insights to heart.
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 ...
The rigorous PhD economics program at Johns Hopkins is among the best in the nation. With its world-class faculty, individualized attention, and small classes, the doctoral program is the centerpiece of the Department of Economics. From financial analysis to applied research, students are well-prepared to be leaders in the field. The department is dedicated to...
University of Pennsylvania. Philadelphia, PA. #9 in Economics (tie) Save. 4.6. With a graduate degree in economics, students may find jobs as analysts and economists in the government ...
The PhD is the most advanced degree in the field of economics and is generally considered a research degree. Earning a PhD typically involves several years of post-baccalaureate study, including advanced courses in microeconomics, macroeconomics, quantitative analysis, and econometrics, followed by courses in the student's field of specialization.
Ph.D. in Economics. The Ph.D. program in the Department of Economics at Columbia University trains students to do cutting edge research in economics. Students in our program do research in all major areas of economics including microeconomics, macroeconomics, econometrics, international economics, labor economics, public finance, industrial ...
The Ph.D. Program in the Department of Economics at Harvard is addressed to students of high promise who wish to prepare themselves in teaching and research in academia or for responsible positions in government, research organizations, or business enterprises. Students are expected to devote themselves full-time to their programs of study.
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.
Ph.D. Program. Make an impact: The intellectual rigor from researchers associated with Yale Economics drives innovations in domestic and international policy. Yale's Department of Economics offers a challenging and rigorous academic program, a distinguished and accessible faculty, and a friendly, supportive environment for study.
Students who enroll in this program have a substantial background in economics and mathematics. They are expected to have, minimally, mathematical skills at the level of one year of advanced calculus and one course each in linear algebra, analysis, probability, optimization, and statistics. The faculty selects students based on predicted ...
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 ...
Students in the PhD program can earn either a Master of Science (MS) in Economics or a Master of Philosophy (MPhil) in Economics degree while pursuing the PhD degree. Students in good standing may apply for the MS once they have completed the 30 required credits: ECON 8301, 8305 and 8375; two courses chosen from 8302, 8306 and 8376; and five ...
Its basically an economics Ph.D. without macro and now a days much of the topics published in say the Journal of Financial Economics is macro. In terms of research methods an economics Ph.D. probably has better rote technical skills, while finance Ph.D. will probably have better institutional understanding. From a job market stand point there ...
PhD in. The doctoral program in Economics at Rice University provides rigorous training in economic theory and econometrics in order to prepare students for research careers in economics. In 2014, the department launched the Rice Initiative for the Study of Economics (RISE) in order to enhance its role as a leading center of economic research.
An economics PhD is one of the most attractive graduate programs: if you get through, you have a high chance of landing a good research job in academia or policy - promising areas for social impact - and you have back-up options in the corporate sector since the skills you learn are in-demand (unlike many PhD programs). You should especially consider an economics PhD if you want to go into ...
The Ph.D. Program in Economics at UCLA prepares students for careers as economists in academia, business and government. The program combines rigorous work in economic theory and careful study of real-world problems and institutions. Graduates from this program work at major universities around the world, national and international government ...
Welcome to the PhD Program The Georgetown University Economics Ph.D. program is a full-time program designed for students who seek research careers at the forefront of economic science. The Ph.D. program provides an excellent training environment for future scholars. Located in the nation's capital, it is ideally situated for both students specializing in pure science […]
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.
PhD in Economics. PhD students take 16 courses, roughly half of which are spent acquiring the core analytic tools of the profession (microeconomics, macroeconomics, and quantitative methods), with the balance spent applying those tools in particular fields of specialization. All PhD students must complete a doctoral dissertation (thesis).
Ph.D. Program. The Doctor of Philosophy is a research degree. It signifies that the recipient is able to conduct independent research and has both a broad basic knowledge of all areas of economics and a comprehensive knowledge of one area in particular. The Ph.D. program equips its graduates with modern economic techniques, enabling them to ...
PhD in Economics "Minnesota is one of the finest economics departments in the world. The training is very rigorous and students are encouraged to integrate cutting-edge techniques to their applied work. ... You can contact the Graduate Studies Office by phone at 612-625-6833 or by email at [email protected]. Full Requirements College ...
But, a PhD opens the door to jobs in the private sector, academia, government, think tanks and international organizations. Remember, on average, a PhD economist has a 34% higher salary than a Master's economist. Next, you need to consider cost. Economics PhD students, including our SMU students, have a full tuition waiver and a stipend to ...
Minimum entry requirements for MRes/PhD Economics. An upper second class honours (2:1) degree (or equivalent) in any field. Some preparation in economics, a strong mathematics background and evidence of research potential are essential. The goal of the MRes/PhD Economics is to train first class researchers.