The Department of Economics offers a Doctor of Philosophy (PhD) in Economics or Business Economics. Students in the doctoral program complete a course of study involving a series of required core subjects in microeconomic theory, macroeconomics, and econometrics; coursework (with a grade of B or better) in two major and two minor fields of study; a research paper; a teaching requirement; and a thesis. The coursework and research paper, completed in the program's first two years, culminate in a general examination. The four fields of study are chosen from advanced economic theory; behavioral economics; computation and statistics (minor field only); econometrics; economic development; finance; industrial organization; international economics; labor economics; monetary economics; organizational economics; political economy; and public economics.
The business economics track, offered in conjunction with the Applied Economics group in the Sloan School of Management, offers students a unique opportunity to engage closely with faculty from both the Economics Department and Sloan’s Applied Economics group. A small number of students is admitted to this track each year. Students take business economics subjects offered by Sloan to fulfill one of their minor fields. The business economics subjects focus primarily on the supply side of the economy, specifically the role of firms and organizations, and examine issues arising in an wide array of subfields of economics, such as industrial organization, development economics, energy economics, environmental economics, and health economics.
Following successful completion of the general examination requirement, the student forms a thesis committee of two or three faculty members; students in the business economics track have two principal dissertation advisors (one from the Economics Department and one from the Sloan School’s Applied Economics group). The thesis must meet high professional standards and make a significant original contribution to the student’s chosen research area. The thesis must be approved by the thesis committee and then by an independent faculty member in the department selected by the chair of the departmental Graduate Committee. Upon successful completion of the program, students are awarded the PhD in Economics or Business Economics, depending on the selected track.
Students must be in residence for a minimum of two years. However, candidates ordinarily need two full academic years of study to complete coursework, and the doctoral thesis typically requires three to four additional years of research effort.
