phd economics scholarships 2022

Graduate Fellowships and Scholarships

The Economics department has a number of Fellowships and Research Scholarships that are awarded through a broad-based competition open to all PhD students in economics. The primary criterion for receiving a fellowship or scholarship is evidence of research excellence.

Caves Dissertation Fellowship | Christensen Dissertation Fellowship in Empirical Economics | Christensen Scholarship in Empirical Economics | Culbertson Field Paper Scholarship | David Edwin Davies Dissertation Fellowship | Alice S. Gengler Dissertation Fellowship | JPGI funded Scholarships and Fellowships | Donald D. Hester Dissertation Fellowship | Susan B. Kocin Scholarship for Labor Economics | Walter A. Morton Dissertation Fellowship | Mary Claire Aschenbrener Phipps Dissertation Fellowship |  Dorothy Rice Dissertation Fellowship | Robock Scholarship in Empirical or Experimental Economics | Shih Graduate Student Fellowship (Ko and Ying Shih Dissertation Fellowship) | Richard E. Stockwell Dissertation Fellowship | Mary Sue and Mike Shannon Dissertation Fellowship |  Walker Family Dissertation Fellowship

Caves Dissertation Fellowship

This fellowship was established by Douglas W. Caves (PhD, Economics, 1980) and Sherry A. Caves to support graduate students in the Department of Economics at UW-Madison doing dissertation level empirical research in the doctoral program. The intent of this fellowship is to reward and distinguish excellence and scholastic merit in the doctoral program.

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Christensen Dissertation Fellowship in Empirical Economics

This fellowship was established by Lau and Dianne Christensen. Lau was a faculty member at UW-Madison from 1967 to 1987, and Dianne was a Visitor in the Economics Department for several years in the 1980s. This fellowship is awarded to a student doing an empirical dissertation.

Christensen Scholarship in Empirical Economics

Lau and Diane Christensen established this scholarship. Lau was a faculty member here from 1967 to 1987, and Dianne was a Visitor in the Department for several years in the 1980s. The purpose of this joint student-faculty award is to A) encourage and support research by PhD students doing empirical work with contemporary estimation methods, and B) to support faculty who serve as mentors for Ph.D. students doing dissertations.

Culbertson Field Paper Scholarship

The Culbertson Scholarship was established with a generous contribution from Dr. Francis Culbertson, in memory of her late husband, UW Madison Economics Professor John M. Culbertson. The scholarship is for the PhD student who writes the best field paper.

David Edwin Davies Dissertation Fellowship

The David Edwin Davies Dissertation Fellowship is based on outstanding research potential and overall research excellence. This fellowship was established by a trust created by Richard Davies (BA, Economics and Political Science, 1979).

Alice S. Gengler Dissertation Fellowship

The late Alice Gengler received her BA in Economics from the University of Wisconsin in 1927. The Alice Gengler Wisconsin Distinguished Graduate Fellowship is made possible by the generosity of Alice Gengler and her family.  It is awarded for excellence in research.

JPGI funded Scholarships and Fellowships

The  JPGI  honors UW-Madison alumna Juli Plant Grainger.  The following fellowships and scholarships are made possible by a substantial investment in the Department by David W. Grainger and the Grainger Foundation.

JPGI Summer Fellowships

These fellowships are funded by the  Juli Plant Grainger Institute for Economic Research.   They are awarded to students with unusually promising research proposals. ( Previous Winners )

JPGI Teaching Assistant Scholarships

These scholarships are funded by the  Juli Plant Grainger Institute for Economic Research .  They are awarded to students with exceptional classroom performance as a teaching assistant in any Economics course, either graduate or undergraduate. ( Previous Winners )

JPGI Outstanding Dissertator Fellowship

These fellowships are funded by the  Juli Plant Grainger Institute for Economic Research .  They are awarded to students with exceptionally promising dissertations. ( Previous Winners )

Donald D. Hester Dissertation Fellowship

This fellowship is named after the late Donald Hester, a UW Madison Economics Professor from 1968 to 2000. Preference is given to students who excel in teaching and conduct research in macroeconomics.

Susan B. Kocin Scholarship for Labor Economics

This scholarship, funded by the Kocin family, is awarded to promote women in the field of labor economics.

Walter A. Morton Dissertation Fellowship

This fellowship supports a meritorious doctoral student in the Department of Economics and was created through a fund established in 1984 by Rosalie Morton (BS 1928), widow of late UW Economics Professor Walter Morton (Ph.D. 1927), and her son Stephen D. Morton (Ph.D. 1962).

Mary Claire Aschenbrener Phipps Dissertation Fellowship

This fellowship was established by Charles Phipps in honor of his late wife, Mary Claire Phipps (BA ’51, Economics) to attract more female economists to the University of Wisconsin to inspire the next generation of female economists. The fellowship supports an outstanding female doctoral student.

Dorothy Rice Dissertation Fellowship

The Dorothy Rice Dissertation Fellowship was created in memory of health care economics pioneer and UW Alumna Dorothy Rice (Ph.D. 1941) who left a lasting legacy on the Federal Health Care Policy. Her research paved way for the creation of the Medicare program. The fellowship is awarded to an outstanding doctoral student in the Department of Economics.

Robock Scholarship in Empirical or Experimental Economics

The late Dr. Stefan Robock established this scholarship.  Professor Robock received his B.A. from the University of Wisconsin in 1938. He did graduate work at Wisconsin and Harvard.  The purpose of Dr. Robock’s gift is to support students and research by students and faculty in the Department of Economics, with preference being given to those doing empirical and/or field research or working in the field of experimental economics.

Shih Graduate Student Fellowship (Ko and Ying Shih Dissertation Fellowship)

May Shih and Willy Shih have honored their parents, Ko and Ying Shih, by establishing a fellowship in their names to assist graduate students in the Department of Economics. Ko Shih received his PhD in Economics (1950) and Ying Shih received her PhD in Applied Statistics (1952) at UW-Madison. Both Ko and Ying Shih were international students, so their children, May Shih and Willy Shih, would like the funds to be used for a dissertation fellowship with a slight preference given to international students.

Mary Sue and Mike Shannon Dissertation Fellowship

Richard e. stockwell dissertation fellowship.

This fellowship was established by a trust created by Richard E. “Archie” Stockwell. Archie received his B.S. in 1940 from the University of Wisconsin. The fellowship is awarded to a graduate student who has demonstrated excellence in research.

Walker Family Dissertation Fellowship

This fellowship, offered by the Department of Economics, was established by a trust created by Willard T. Walker (BA Economics 1955) and Willard T. Walker Jr. (BA Economics 1984) and Molly Walker Allen (BA Journalism and Mass Communication 1989) to recognize outstanding research potential and overall research excellence. The annual one semester dissertation fellowship is designed to support a doctoral student in Economics.

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.   

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The doctoral program in Economics at Harvard University is one of the leading programs in the world. Supported by a diverse group of faculty who are top researchers in their fields and fueled by a vast array of resources, the PhD program is structured to train and nurture students to become leading economists in academia, government agencies, the technology industry, finance and banking, and global policy organizations.

Harvard University and the Department of Economics are regularly ranked amongst the top programs in the world, and the consistency of success among our graduates is inspiring. We have educated several foreign heads of state, Nobel Prize Winners, Clark Medal Winners, MacArthur Fellowship Recipients - many of whom have returned to Harvard to offer their expertise and brilliance in shaping and nurturing our students.  Learn more about where we place our  graduates  and explore our  Program  to find out if a PhD in Economics is a good fit for you. 

Program Requirements

As a PhD student in the Economics program, students will spend the first two years in the program engaged in rigorous coursework designed to develop a foundational understanding of economics. In the following years, students transition to research under the guidance of strong faculty mentorship and participate in field workshops. In the final year, students conduct independent research and complete a dissertation.

The department of Economics at Harvard University is committed to seeking out and mentoring scholars who wish to pursue a rigorous and rewarding career in economic research. Our graduates are trailblazers in their fields and contribute to a diverse alumni community in both the academic and non-academic sectors. We invite you to learn more and apply to the PhD program in Economics. 

Financial Support

Students have access to a variety of funding and financial support opportunities.

• Research Funding
• Teaching Fellowships and assistants
• Additional external and internal resources

Learn more about financial support

Upcoming Events

Econ 3012 graduate student workshop in labor economics and public economcs, location: .

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ECON 3012 Graduate Student Workshop in Labor Economics and Public Economics

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ECON 3012 Student Graduate Workshop in Labor Economics and Public Economics

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Research, Outreach, and Engagement

Alumni & giving, a college of liberal arts department, 2022 economics scholarships and award winners, economics scholarships & awards – graduate, dissertation fellowship, lackson mudenda.

Lackson D. Mudenda is a 4th year  Ph.D. student in economics and part of the PAC@REDI research team as a graduate researcher. His fields of interest are development economics, public economics, international economics, and macroeconomics. Specifically, he is interested in research related to inequality, child poverty, and development.

For his dissertation, Lackson is working on understanding the labor force participation in Zambia, access to safe drinking water and clean cooking fuels in Ethiopia, and the impact of universal education in Uganda.  He also has industry experience having served at the Bank of Zambia as an intern and the Zambia Revenue Authority as a Tax Inspector for almost five years.

Lackson holds a bachelor’s degree from the University of Zambia, a master’s degree in economics from Umeå University in Sweden, and a Master of Business Administration from Copperbelt University in Zambia. In his free time, he loves to play chess, read books, and watch motorsport.

Michelan Wilson

Michelan Wilson is a 5th year Ph.D. candidate with research focus in natural resource economics. Specifically, Wilson’s research focuses on the valuation of ecosystem services. She is currently a research assistant on a project funded by the National Science Foundation (NSF), which focuses on modelling the consequences of terrestrial activities and climate change for freshwater and coastal marine biodiversity and ecosystem services.

Wilson is from Jamaica, where she completed her undergraduate and master’s degrees in Economics.

Graduate Research Assistantship

Sayorn chin.

Sayorn Chin is a 5th year Ph.D. student and Graduate Teaching Instructor in economics, as well as a Data Scientist at Mountain Data Group.

Sayorn is working on the economics of health for his dissertation and is interested in understanding the welfare effects of public policy programs. He is particularly interested in the intersection of public policy and population health. His research combines rigorous economic theory, econometric and statistical tools, natural language processing algorithms, rich micro data and large-scale simulations.

Sayorn earned a Master of Arts in Economics from CSU in 2019 and a Bachelor of Arts in Mathematical Economics from Colorado College in 2017.

As recipient of a competitive Graduate Research Assistantship for 2022-2023, Sayorn will collaborate with Assistant Professor Ray Miller to study the effect of Medicaid coverage during pregnancy on long-term outcomes and wellbeing of mothers.

Luke Maddock

Luke Maddock is a 1st year Ph.D. student interested in public, regional, and urban economics. His current research deals with examining government funding towards homeless assistance services and how it affects different demographic populations. Maddock previously studied at Marquette University and Carthage College for his Master of Science and Bachelor of Arts degrees, respectively.

As a recipient of a competitive Graduate Research Assistantship for 2022-2023, Luke will collaborate with Professor Anita Pena to study the effectiveness of homeless assistance programs on chronic homelessness.

Outstanding Graduate Researcher

Angela cindy emefa mensah.

Angela Cindy Emefa Mensah is a 3rd year Ph.D. student in economics.  She holds a bachelor’s degree in economics and mathematics from the University of Cape Coast and a Master of Philosophy (MPhil) in economics from the University of Ghana. She previously worked as a research assistant in the United Nations University’s World Institute for Development Economics Research (UNU-WIDER) office at the University of Ghana. She is a member of the African Association of Environmental and Resource Economists (AFAERE) and Unic Network for Climate Action.

Angela’s research interests are in the areas of economic inequality, income and wealth distribution, natural resource and environmental economics, applied microeconomics, and econometric analysis.  She has published in the Journal of Climate and Development , Journal of Environmental Economics and Policy , and Environmental and Resource Economics . She is currently collaborating with University Distinguished Professor Edward Barbier on a UN-WIDER project  and has a forthcoming publication on “Environmental Health Risks, Welfare and GDP.”

Outstanding Graduate Teacher

Fatih kırşanlı.

Fatih Kırşanlı is a 5th year Ph.D. candidate with concentrations in macroeconomics, political economy, and institutional economics. He is also a researcher at Ayaan Institute. In his dissertation, Fatih focuses on corruption and its impacts on macroeconomic variables in the Middle East and North Africa (MENA). He has been a Graduate Teaching Instructor (GTI) since summer 2020. Fatih is expected to graduate in Summer 2022.

L.S. & Chuen-Mei Fan Graduate Economics Scholarship

Jeremy garrison.

Jeremy Garrison is a 2 nd year Ph.D. student with a focus on political economy and the environment. Specifically, he’s interested in issues of the commons, community, and preference and identity formation and its effect on economic behavior. He holds bachelor’s degrees in environmental policy and mathematics from the University of Tulsa. He is passionate about learning, teaching, creative writing, playing music, and exploring the world.  

Vinicius Cicero

Vinicius Cicero is a 2nd year Ph.D. student interested in macroeconomics in general. In particular, he is interested in issues related to uneven development, with a focus on trade relations and capital flows between countries or regions, and the implications for balance-of-payments constrained economic growth and structural change. Vinicius holds both master’s and bachelor’s degrees in Economic Theory from the University of Sao Paulo in Brazil.  

Terry Ozawa Graduate Economics Fellowship

Bhavya sinha.

Bhavya Sinha is a Ph.D. student in economics with fields in political economy and development economics. Her doctoral research focuses on labor and finance in global production networks and she has presented early work on Special Economic Zones at conferences with the AHE, the WSSA, and the YSI Asia Convening. Bhavya credits her work to her learning communities from Ambedkar University Delhi, University of Hyderabad, Jawaharlal Nehru University, and Colorado State University.  

Satyaki Dasgupta

Satyaki Dasgupta is a 2nd year Ph.D. student and Graduate Teaching Assistant. He completed a m aster’s degree in economics at Jadavpur University in Kolkata, He also has a Master of Philosophy from the Centre for Development Studies in Kerala.

Satyaki’s interests lie in political economy, labor , gender, and development in the context of developing economies. Last fall, he presented a paper titled “Sexual Harassment in Higher Educational Institutions: A Theoretical Understanding based on a Survey in India”  at the Western States Graduate Workshop.

ΟΔΕ Best Graduate Paper

Paula leone samuda.

Paula-Leone Samuda is a 1st year Ph.D. student with interest in development economics, international trade and finance and feminist studies. Paula-Leone holds a Master of Arts from the University of Denver and a Bachelor of Science from the University of the West Indies. In her free time, she enjoys reading, dancing, and spending time with her sisters.   

Paula was selected for this award based on an essay written on the work of Say, Marshall, and Keynes for ECON 505 History of Economic Thought.

Economics Scholarships & Awards – Undergraduate

Outstanding graduate student, arisa thongngam.

Arisa Thongngam is a senior and international student from Thailand majoring in economics with minors in mathematics and statistics. When she graduates from CSU this spring, she will be continuing to pursue a master’s degree in economics. Arisa has an older sister and younger brother, and in her free time, she enjoys cooking, baking, sleeping, and taking walks in nature.  

ΟΔΕ Outstanding Undergraduate Economics Paper

Lauren vilims.

Lauren Vilims is a 4 th -year undergraduate student studying economics and finance. With interests in the healthcare industry, she hopes to pursue a graduate degree in health economics after graduation.

Lauren is currently working with Dr. Ray Miller and a team of grad students on a research paper through the Poverty Action Center (PAC@REDI) . She has loved learning more about the economic research process. In her free time, she enjoys climbing 14ers, swimming, and spending time with her family in Evergreen, Colorado. 

Lauren was selected for this award based on her ECON 335 (Introduction to Econometrics) paper, “How Does the Exposure and Access to Marijuana Affect the Percentage of High School Students Who Regularly Use Marijuana?”

Ben W. Garcia Economics Scholarship

Michelle malenfant.

Michelle Malenfant is a junior double majoring in economics and art history with a minor in philosophy.

A lover of the liberal arts, Michelle spent most of her early years working at her father’s art gallery in her hometown of Dallas, Texas. Though her primary interests are in art, she decided to study economics to get a strong foundation in the workings of the business; through her courses, Michelle has developed an understanding of how interconnected the two fields are, informed by philosophy.

After graduation, she hopes to continue her journey in higher education and further explore the relationships between art, economics, and philosophy. She is grateful for her parents’ help in pursuing a multifaceted course of study at CSU, as well as her supportive family, friends, and professors, and scholarship benefactor Ben Garcia for helping students like her make their dreams possible.  

Aidan Knaus

Aidan is a junior honors student double majoring in economics and political science with a minor in Spanish. His favorite season is spring, but he wishes he didn’t have seasonal allergies. His favorite book is The Windup Girl by Paolo Bacigalupi . Post-graduation, Aidan hopes to complete a tour in the Peace Corps and then go to law school.   

Alok Mehta Memorial Scholarship

Osvaldo cabrera-campos.

Osvaldo Cabrera-Campos is a sophomore from Denver, CO majoring in economics with minors in Japanese and applied data science. He was attracted to economics because it incorporates math and social science to affect the greater world .

When he graduates, Osvaldo wants to bring change by helping nonprofit organizations better allocate their resources and bringing attention to immigrant communities that have been historically underserved by the financial community.  

Alok Mehta and Ed A. Hewett Memorial Scholarships

Juan morales.

Juan Morales is a fourth-year student majoring in economics with a minor in global studies.

Originally from a military family, Juan moved around frequently growing up, living in small towns and on military bases. He says both of his parents are from very small towns, but he gained a wider invaluable perspective from traveling so much. Juan’s grandparents were migrant workers, bar owners, cooks, and worked other jobs to pay the bills, which in part inspired Juan to pursue an education out of admiration for their ingenuity and determination.

He says, “ With a history of viewing firsthand the economic reality of many diverse working-class people, I am determined to try and help communities in whatever capacity I can. A long-term goal of mine is to help found a worker cooperative with community-based activism at the core of the business model.”

Today, Juan is living in south Texas with his family, including a young son, while he takes classes through CSU Online.  

Ed A. Hewett Memorial Scholarship

Luke marshall.

Luke Marshall is a junior from Fort Collins, CO majoring in economics.

ΟΔΕ (Omicron Delta Epsilon) Inductees

To be invited to become a member of Omicron Delta Epsilon, a graduate student must maintain an overall GPA of 3.5.  An undergraduate student must be an economics major or minor with an overall GPA and of 3.0 or higher and have completed 12 credits of core economics theory courses with a GPA of 3.0 or above.    

Jake Becker

Jake Becker graduated in fall 2021 with a bachelor’s degree in economics and a minor in statistics.

Uriel Bonilla

Uri Bonilla is a first-generation senior majoring in economics with minors in statistics and Spanish. Originally from Denver, Uri comes from a big family with two older sisters, two younger brothers, and two dogs. In his free time, he loves to hang out with friends, play piano, listen to a variety of music genres, and travel.  When he graduates in May, Uri will begin working as a Pricing Analyst for an airline; he plans to eventually pursue a master’s degree in economics or a related field.  

Braden Bontempo

Braden Bontempo graduated in fall 2021 with a bachelor’s degree in economics and a minor in real estate.

Samantha Bryan

Samantha Bryan is a senior majoring in agricultural business. She will begin her master’s degree in Agricultural and Resource Economics at CSU in fall 2022.

Mariam Graoui

Mariam Graoui is a senior double majoring in economics and journalism.

Emily Hrovat

Emily Hrovat is a 4th year Ph.D. student in economics with interests in political economy, feminist economics, and applied microeconomics. She holds a bachelor’s degree in Economics and Women’s, Gender, and Sexuality Studies from the College of Wooster.

Jessica Kennedy

Jessica Kennedy is a senior majoring in economics with a minor in business.

Anh Ngoc Nguyen

Anh Ngoc Nguyen (Nguyễn Ngọc Ánh) is a senior majoring in economics with a minor in business administration. Anh is an international student from Hanoi, Vietnam who is participating in CSU’s 3+1 program with the Foreign Trade University (FTU). In the last year, she worked as a research intern at CSU’s Poverty Action Center (PAC@REDI) with faculty Anita Pena and Niroj Bhattarai. She says, “ I believe that economics is the root of everything and learning economics can help me understand many aspects of human development.”  When she graduates this spring, Anh plans to stay in the United States and earn her master’s degree in business.

Henrique Magalhaes Rio

Henrique Magalhaes Rio is a senior and international student from Brazil double majoring in economics and data science with a minor in statistics.

Brian Silver

Brian Silver is a senior economics major with minors in legal studies and business. He chose to study economics to learn how markets work and understand why firms and governments make the decisions that they do. When he graduates this spring, Brian will begin pursuing a Masters of Science in Business Analytics at the University of Tennessee-Knoxville. He plans to pursue a career as a data scientist or data analyst in the private sector where he can help provide efficient solutions to complex business problems.

Vlad Toma Suciu

Vlad Toma Suciu graduated in fall 2021 with a bachelor’s degree in economics and a minor in business.

Alina Trimble

Alina Trimble is a senior majoring in economics with a minor in business through CSU Online. She lives in Garden City, Idaho.

Lauren Vilims is a 4 th -year undergraduate student studying economics and finance. With interests in the healthcare industry, she hopes to pursue a graduate degree in health economics after graduation. Lauren is currently working with Dr. Ray Miller and a team of grad students on a research paper through the Poverty Action Center (PAC@REDI). She has loved learning more about the economic research process. In her free time, she enjoys climbing 14ers, swimming, and spending time with her family in Evergreen, Colorado.  

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Thinking of Pursuing a PhD in Economics? Info on Graduate School and Beyond

Kasey Chatterji-Len and Anna Kovner

Becoming a PhD economist can provide a fulfilling and financially secure career path. However, getting started in the field can be daunting if you don’t know much about the preparation you’ll need and the available job opportunities. If you’re wondering what it means to be an economics researcher or how to become one, please read on. We’ll review how to prepare for a career in economics research, what an economics PhD program entails, and what types of opportunities it might bring. Economic education is a core component of the Federal Reserve Bank of New York’s mission to serve the community. To empower would-be economists, this post provides information for students who seek a career in economics research. We hope this information will be helpful to students interested in economics, regardless of their background and economic situation.  This information is most applicable to students applying to programs in the United States.  

The Breadth of Economics Research  

Academic disciplines conduct research in different ways, so it’s important to have a basic understanding of the types of questions economists ask and how they approach answering them. There are many definitions of economics, but a broadly useful one is the study of how people, organizations, and governments make decisions under different constraints, and how those decisions may affect their outcomes. 

When answering these questions, economists seek to ground their analyses in models and to be quantitatively precise about the effects they assign to any given cause. The range of topics economists can study is wide, but the accepted approaches to answering questions are stricter. Some examples of what economists might ask: 

• How do different public housing programs affect the children who live there? 
• Does a certain type of law encourage businesses to innovate? 
• How will a change in the interest rate affect inflation and unemployment rates? 
• How much does affordable health insurance improve people’s health? 
• How can poor countries eradicate poverty? 

There are many different subfields within economics, including, but not limited to behavioral, econometrics, energy/environmental, development, financial, international, monetary, public, and urban economics. You can familiarize yourself with the latest work in economics by subscribing to working paper series, such as NBER’s New This Week or the New York Fed’s Staff Reports . To get an idea of the breadth of questions economists can answer, you could listen to Stephen Dubner’s “ Freakonomics Radio ” podcast. You may also want to explore the Journal of Economic Perspectives , the New York Fed’s Liberty Street Economics blog, VoxDev , or VoxEU .  

What Is a PhD Program Like?    

Economics PhD programs typically last five to seven years. Unlike masters programs, they are often fully funded with a stipend, though most require students to complete teaching assistant and/or research assistant (RA) work as part of their funding package. In the first two years, students take classes, many of which are mathematically demanding. The rest of the program can include additional classes but is primarily devoted to original research with the aim of producing publishable papers that will constitute the dissertation.  

Faculty advisors are a central part of PhD programs, as students look to them for guidance during the research process. Economics PhD programs are offered within university economics departments, but there are similar programs in public policy and business schools. You can look at their websites to understand any differences in coursework and subsequent job placements. 

What Can You Do with an Economics PhD?  

Upon graduation, students can obtain jobs in a variety of industries. Many PhD students hope to become university professors. Governments and public policy-related institutions such as the Federal Reserve System, the U.S. federal government, the World Bank, and the International Monetary Fund (IMF) also hire economists to work on policy, lead programs, and conduct research. Finally, economics PhD graduates can also find employment at a variety of private sector companies, including banks, economic consulting firms, and big tech companies. The pay for these different positions can vary. According to the American Economics Association (AEA), the average starting salary for economics assistant professors in 2022-23 was approximately $140,000 at PhD granting institutions and $98,000 at BA granting institutions. 

Programs often publish the placements of their PhD graduates, so you can look online to see specific employment outcomes. See, for example, the University of Maryland’s placements . Ultimately, economists are highly regarded as authorities on a variety of topics. Governments, nonprofits, philanthropic foundations, financial institutions, and non-financial businesses all look to economists to answer important questions about how to best achieve their goals. Thus, earning an economics Ph.D. can potentially help you to influence issues that are important to you. 

Preparing for an Economics PhD Program  

There are several components to an economics PhD program application: college transcripts, GRE scores, letters of recommendation, and personal statements. Please download the Appendix linked below to learn more about transcripts and letters of recommendation. The Appendix details ways in which you can select coursework, obtain research experience, and develop relationships to position yourself for success as a PhD applicant.  

If you feel that you are too far along in your academic career to take enough of the classes described in the Appendix, this does not necessarily preclude you from pursuing an economics PhD. For example, it’s possible to take some of these classes through a master’s program, or through a pre-doctoral RA job. Some pre-doctoral RA jobs, such as the one here at the New York Fed , may enable you to take classes in preparation for graduate school. If you are concerned about your transcript, reach out to an economist at your university for advice; program standards for coursework and grades vary, and it’s a good idea to get more personalized advice. 

Research Experience   

If you’re interested in becoming an economics researcher and applying to PhD programs, it’s best to get research experience as soon as possible. Working as an RA is a great way to learn how to conduct research and get a better idea of whether it’s the right career path for you. Additionally, it can help you obtain a letter of recommendation for graduate school applications and improve your qualifications.  

All types of academic research can be enriching, but it’s beneficial to gain experience working directly with an economist. To find a position, you can reach out to professors whose work you find interesting or find an RA program at your school. Typical RA tasks may involve data collection and cleaning, as well as running analyses and creating charts to represent results. This is where coding skills become crucial; having taken math, statistics, and econometrics courses will also enable you to take on more responsibilities. 

You may also have the opportunity to conduct your own research, possibly under the supervision of a professor at your university. This research could be self-initiated or part of a course such as a thesis workshop. Self-directed research is a great opportunity to learn about all stages of the research process. It’s also an excellent opportunity to create a writing sample for graduate school applications. Ultimately, though, your motivation for conducting your own research project should be that you want to answer a question.  One thing economists have in common is a love of answering questions using data and theory. 

Research experience is also often obtained after completing an undergraduate or master’s degree. Taking on a full-time RA position before applying to PhD programs is very common and can make you a more competitive applicant. You may either get an RA job working for a professor or participate in a pre-doctoral RA program.  

Research assistant programs are more structured than positions with individual professors or projects, which could be helpful. Universities, parts of the government, think tanks, research organizations, and the Federal Reserve System are all good places to look for research assistant programs. To help you decide which opportunities are most desirable, you may want to ask potential employers : Where do people in this program tend to go afterward? Will I be working directly with an economist? How much of my time will be spent on academic research work? Will I be able to take classes as part of this program? Considering whether an economist will be able to evaluate your performance is an important factor for recommendation letters. The ability to take classes, either through tuition reimbursement or waivers, can also be an important benefit. 

The Research Analyst program here at the Federal Reserve Bank of New York is one example of these programs and you should check it out here . The Federal Reserve Board of Governors also has a large program, and many other regional Federal Reserve Banks have similar programs. In addition, the PREDOC website and the  NBER post listings of RA opportunities. J-PAL and IPA also tend to recruit RAs for economic development projects. Another source of RA opportunities is the @econ_ra account on X. 

Who Should Get a PhD in Economics?  

A PhD may not be for everyone, but it is for anyone—people of all genders, religions, ethnicities, races, and national origins have PhDs in economics. Many economists majored in economics, but others majored in math, physics, or chemistry. Because economics is such an integral part of policymaking, it is important that economists come from a wide range of backgrounds so policy can be stronger and more effective. The inclusion of differing perspectives helps ensure that the contribution of economists to work in public policy, academia, and beyond effectively serves the broadest range of society. 

• Coursework Appendix

Kasey Chatterji-Len is a research analyst in the Federal Reserve Bank of New York’s Research and Statistics Group.

Anna Kovner  is the director of Financial Stability Policy Research in the Bank’s Research and Statistics Group.

How to cite this post: Kasey Chatterji-Len and Anna Kovner, “Thinking of Pursuing a PhD in Economics? Info on Graduate School and Beyond,” Federal Reserve Bank of New York Liberty Street Economics , May 31, 2024, https://libertystreeteconomics.newyorkfed.org/2024/05/thinking-of-pursuing-a-phd-in-economics-info-on-graduate-school-and-beyond/.

You may also be interested in: AEA: Resources for Students

PREDOC: Guidance for Undergraduates

RA Positions-Not at the NBER

Disclaimer The views expressed in this post are those of the author(s) and do not necessarily reflect the position of the Federal Reserve Bank of New York or the Federal Reserve System. Any errors or omissions are the responsibility of the author(s).

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Liberty Street Economics features insight and analysis from New York Fed economists working at the intersection of research and policy. Launched in 2011, the blog takes its name from the Bank’s headquarters at 33 Liberty Street in Manhattan’s Financial District.

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Prospective Ph.D. Information

Northwestern's Ph.D. program in Economics owes its international reputation to an outstanding faculty, a well-organized program of study, extensive student-faculty interaction, and an excellent record of recruiting, training, and placing talented graduate students.

In addition, the Department of Economics and the Finance Department in the Kellogg School of Management offer a joint full-time Ph.D. program in Financial Economics .  

Program details

Students generally complete the Ph.D. program in four to six years. Please note that the department does not admit students for a terminal MA degree. An MA degree is only available to Economics Ph.D. students who have successfully completed the first year of the doctoral program, and to students enrolled in other doctoral programs at Northwestern.

The Ph.D. program has approximately 120 students in residence and an average entering class of 25 each year.

The department actively supports the placement of Ph.D. graduates in positions at prestigious universities, government agencies and private corporations. See where past graduates have been placed.

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LSE PhD Studentships

It was a huge honour to receive funding from such a prestigious institution

For 2024 entry, LSE will be offering studentships to new PhD students, in 2023 this was 88, in the form of LSE PhD Studentships, LSE DTP  ESRC Studentships  and London Arts and Humanities Partnership (LAHP)  Studentships.

The awards are open to high calibre students of all nationalities studying across all research areas at the School.

Eligibility

LSE PhD Studentships are tenable for four years and cover full fees and an annual stipend, which for 2024 entry is £21,237. They are available for UK and international students undertaking research in any LSE discipline, with annual renewal subject to satisfactory academic performance.

These awards will be made solely on the basis of outstanding academic merit and research potential. This relates both to your past academic record and to an assessment of your likely aptitude to complete a PhD in your chosen topic in the time allocated.

How to apply

Academic departments nominate students for consideration by a School panel for all PhD funding opportunities they may be eligible for. There is no separate application for any of these studentships.

To be considered for this funding, you must submit your complete application for admission to LSE by a specific date. This date differs by academic department. Refer to the individual programme page for the relevant deadline information.  Find your graduate programme .

• deadline for the research programme in the Law School for 2024 entry: 1 December 2023
• deadline for the research programme in the Department of Economics for 2024 entry (including PhD Studentships and ESRC funding: 14 December 2023
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• London Arts and Humanities Partnership (LAHP) PhD Scholarships  deadline: 26 January 2024, 17:00 GMT
• funding deadline for second round of PhD Studentships deadline for 2024 entry (some departments only): 25 April 2024

Find out about ESRC Studentships .

More information on how to apply for a place on a PhD programme .

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"I received an LSE PhD Studentship, which covers both my tuition and living expenses. It was a huge honour to receive funding from such a prestigious institution and without this support it would have been impossible for me to pursue my PhD."

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Call for applications – PhD Scholarship – Energy and Environmental Economics

We offer a PhD Scholarship for 3 years (with possible extension for one more year), starting September 2022. We are looking for students who aim at enrolling on the PhD program in Economics (University of Barcelona) . The candidates must have a Master in Economics completed by summer 2022 and apply to the PhD program in Economics, University of Barcelona ( http://www.ub.edu/school-economics/phd-in-economics/ ).

The successful candidate will develop his/her research on the Energy and Environmental Economics field (the scholarship is funded by the Chair of Energy Sustainability ).

The yearly gross amount of the stipend is 16.400€ (Salary comes with full social security benefits). The scholarships also cover PhD tuition fees and travel grants for conferences.

Only complete applications will be considered. Candidates must:

Apply to PhD program in Economics (see requirements and documentation: http://www.ub.edu/school-economics/phd-in-economics/). Deadline: 30th April 2022.

Send a statement of purpose to [email protected] indicating in the title of the message ‘PhD Scholarship- Energy and Environmental Economics’ before the 30th April 2022 .

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The call for applications  2024-25 expired on April 26th, 2024 - 11.59 pm (CEST)

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For the academic year 2024/2025 a total of 7scholarships  for full-time PhD students are available:

• 6 PhD positions for research projects in Economics within the  Department of Economic s
• 1 PhD position for a research topic related to the Law and Economics within the  European Doctorate in Law and Economics  - EDLE

Candidates are asked to specify their interest in applying for one of the different types of scholarships. For the position in EDLE both Economics and Law backgrounds are welcome; the statement of purposes should include a short research project and information on the candidates’ specific skills and experience that makes them comparably well suited for the position.

Each scholarship amounts to € 16.243,00 gross per year  for four years and is paid on a monthly basis. This amount is increased by 50% during visits abroad of no less than 1 month and no more than 18 months. The full-time scholarships will be assigned to the best applicants on a competitive basis.

All admitted students will also have an endowment in research funds (around € 1624,30 per year).

Further financial support takes the form of teaching assistantships with official calls from the University, and research assistantships (usually coming from professors’ own research funds).

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We welcome candidates from any country, gender, and age holding a  Master Degree  (second cycle of higher education) ,  or who are in line to complete it  no later than October 31st, 2024 . Such a degree must be one of the following:

• an Italian laurea specialistica/magistrale (3+2-year system);
• an Italian university degree – pre-reform system (4 years).
• a second cycle degrees obtained abroad, recognized as equivalent to the above mentioned.

Please note that:

• Applicants awarded of the above academic degrees by foreign Universities in extra-EU countries must submit a certificate attesting the completion of their Bachelor’s and Master’s degree (i.e. first and second level degree) and the transcript of records.
• Applicants holding a degree awarded in the EU Member States or by an Italian private university can submit either certificates or a self-certification. The Diploma Supplement can be also submitted as an alternative to the certificate. 

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