math requirements phd econ

Doctoral Program Math Requirements

This page describes the Department’s expectations about students’ mathematical knowledge at two points in their course of study: upon entering the program, and before taking the preliminary exams at the end of the first year.

I. Incoming Graduate Students

The department requires incoming students to have completed the following courses before starting graduate study:

• A three-course sequence in calculus, including multivariate calculus
• One course in linear algebra
• One course in mathematical statistics (doctoral students)

While most of the material in these classes is useful for graduate work in economics, it is not always clear to incoming students which topics covered in these classes are most important to review before graduate coursework begins. We list five key topics below. Two useful references on these topics are:

[DS] M. H. Degroot and M. J. Schervish, Probability and Statistics. 3rd ed. Boston: Addison-Wesley, 2002.

[SB] C. P. Simon and L. E. Blume, Mathematics for Economists. New York: Norton, 1994.

The first item summarizes the contents of a standard mathematical statistics class:

1. Basic probability theory (discrete and continuous random variables, conditional probability, expectations, the weak law of large numbers, the Central Limit Theorem) and basic mathematical statistics (point estimation, interval estimation, hypothesis testing). [DS, various chapters].

The next three should be familiar from the calculus course sequence:

2. Geometric representation of vectors and functions in n-dimensional space [SB, Ch. 10 and Sec. 13.2].

3. Differentiation of multivariate functions [SB, Sec. 14.1-14.6].

4. Unconstrained optimization, and equality constrained optimization via the Lagrange multiplier method [SB, Ch. 17 and Sec. 18.2].

The last item is not covered in all undergraduate calculus sequences. Still, we advise students to study this topic before classes begin.

5. Basic convexity [SB, Sec. 21.1-21.3].

Are you a UW-Madison student looking for a recommended set of courses? Take a look at the  academic path document  provided by the Department of Economics Undergraduate Program. The set of courses suggested to prepare for graduate school in economics will help you acquire the mathematical knowledge that can ease the transition into a Graduate Program in Economics. You can see the description of the courses at the Department of Mathematics’  Undergraduate Course Description  page.

II. Students completing first-year doctoral coursework

By the time first-year course work is over, students have learned a wide range of mathematical techniques for economics analysis. Below, we list some fundamental topics that students should master before taking the micro and macro prelims. As additional references, we mention two standard textbooks for the macro curriculum and one for the micro curriculum:

[S] T. J. Sargent, Macroeconomic Theory. 2nd ed. San Diego: Academic Press, 1987.

[SL] N. L. Stokey and R. E. Lucas, Recursive Methods in Economic Dynamics. Cambridge: Harvard University Press, 1995.

N.B.: The Department does not merely expect students to be able to recite the basic results from each of the areas listed below. Rather, we expect students to possess a working knowledge of each topic on the list. This means, for example, that students should be able to recognize situations in which the various techniques are relevant, and should understand how to put the techniques to use.

Two broad, fundamental topics from the first year theory sequences are:

1. Constrained optimization, the Kuhn-Tucker conditions, and concave maximization [SB, Ch. 18, 19, 21, amd 22; MWG, Sec. M.K.].

2. Comparative statics, implicit differentiation, and the implicit function theorem [SB, Ch. 15 and 22; MWG, Sec. M.E. and M.K.].

Two topics that are especially important for the macro sequence are:

3. Mathematics for time series analysis: difference equations, linear regression, Wold representation for time series, spectral analysis [S, Ch. 9-11].

4. Dynamic programming [SL, various chapters].

Two narrowly defined topics closely related to items 1 and 2 are:

5. Homogeneous functions [SB, Sec 20.1; MWG, Sec. M.B].

6. The Envelope Theorem [SB, Sec. 19.2; MWG, Sec. M.L].

Finally, four important “theoretical” topics are:

7. Compactness and the Weierstrass Maximum Theorem [MWG, Sec. M.F].

8. The Theorem of Maximum [MWG, Sec. M.K].

9. Basic fixed point theory, especially Brouwer’s Theorem [MWG, Sec. M.I].

10. The Separating Hyperplane Theorem [MWG, Sec. M.G].

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The complete guide to getting into an economics PhD program

Back in May, Noah wrote about the amazingly good deal that is the PhD in economics. Why? Because:

• You get a job.
• You get autonomy.
• You get intellectual fulfillment.
• The risk is low.
• Unlike an MBA, law, or medical degree, you don’t have to worry about paying the sticker price for an econ PhD:  After the first year, most schools will give you teaching assistant positions that will pay for the next several years of graduate study, and some schools will take care of your tuition and expenses even in the first year. (See Miles’s companion post  for more about costs of graduate study and how econ PhD’s future earnings makes it worthwhile, even if you can’t get a full ride.)

Of course, such a good deal won’t last long now that the story is out, so you need to act fast! Since he wrote his post , Noah has received a large number of emails asking the obvious follow-up question: “How do I get into an econ PhD program?” And Miles has been asked the same thing many times by undergraduates and other students at the University of Michigan. So here, we present together our guide for how to break into the academic Elysium called Econ PhD Land:

(Note: This guide is mainly directed toward native English speakers, or those from countries whose graduate students are typically fluent in English, such as India and most European countries. Almost all highly-ranked graduate programs teach economics in English, and we find that students learn the subtle non-mathematical skills in economics better if English is second nature. If your nationality will make admissions committees wonder about your English skills, you can either get your bachelor’s degree at a—possibly foreign—college or university where almost all classes are taught in English, or you will have to compensate by being better on other dimensions. On the bright side, if you are a native English speaker, or from a country whose graduate students are typically fluent in English, you are already ahead in your quest to get into an economics PhD.)

Here is the not-very-surprising list of things that will help you get into a good econ PhD program:

• good grades, especially in whatever math and economics classes you take,
• a good score on the math GRE,
• some math classes and a statistics class on your transcript,
• research experience, and definitely at least one letter of recommendation from a researcher,
• a demonstrable interest in the field of economics.

Chances are, if you’re asking for advice, you probably feel unprepared in one of two ways. Either you don’t have a sterling math background, or you have quantitative skills but are new to the field of econ. Fortunately, we have advice for both types of applicant.

If you’re weak in math…

Fortunately, if you’re weak in math, we have good news:  Math is something you can learn . That may sound like a crazy claim to most Americans, who are raised to believe that math ability is in the genes. It may even sound like arrogance coming from two people who have never had to struggle with math. But we’ve both taught people math for many years, and we really believe that it’s true. Genes help a bit, but math is like a foreign language or a sport: effort will result in skill.

Here are the math classes you absolutely should take to get into a good econ program:

• Linear algebra
• Multivariable calculus

Here are the classes you should take, but can probably get away with studying on your own:

• Ordinary differential equations
• Real analysis

Linear algebra (matrices, vectors, and all that) is something that you’ll use all the time in econ, especially when doing work on a computer. Multivariable calculus also will be used a lot. And stats of course is absolutely key to almost everything economists do. Differential equations are something you will use once in a while. And real analysis—by far the hardest subject of the five—is something that you will probably never use in real econ research, but which the economics field has decided to use as a sort of general intelligence signaling device.

If you took some math classes but didn’t do very well, don’t worry.  Retake the classes . If you are worried about how that will look on your transcript, take the class the first time “off the books” at a different college (many community colleges have calculus classes) or online. Or if you have already gotten a bad grade, take it a second time off the books and then a third time for your transcript. If you work hard, every time you take the class you’ll do better. You will learn the math and be able to prove it by the grade you get. Not only will this help you get into an econ PhD program, once you get in, you’ll breeze through parts of grad school that would otherwise be agony.

Here’s another useful tip:  Get a book and study math on your own before taking the corresponding class for a grade. Reading math on your own is something you’re going to have to get used to doing in grad school anyway (especially during your dissertation!), so it’s good to get used to it now. Beyond course-related books, you can either pick up a subject-specific book (Miles learned much of his math from studying books in the Schaum’s outline series ), or get a “math for economists” book; regarding the latter, Miles recommends Mathematics for Economists  by Simon and Blume, while Noah swears by Mathematical Methods and Models for Economists  by de la Fuente. When you study on your own, the most important thing is to  work through a bunch of problems . That will give you practice for test-taking, and will be more interesting than just reading through derivations.

This will take some time, of course. That’s OK. That’s what summer is for (right?). If you’re late in your college career, you can always take a fifth year, do a gap year, etc.

When you get to grad school, you will have to take an intensive math course called “math camp” that will take up a good part of your summer. For how to get through math camp itself, see this guide by Jérémie Cohen-Setton .

One more piece of advice for the math-challenged:  Be a research assistant on something non-mathy . There are lots of economists doing relatively simple empirical work that requires only some basic statistics knowledge and the ability to use software like Stata. There are more and more experimental economists around, who are always looking for research assistants. Go find a prof and get involved! (If you are still in high school or otherwise haven’t yet chosen a college, you might want to choose one where some of the professors do experiments and so need research assistants—something that is easy to figure out by studying professors’ websites carefully, or by asking about it when you visit the college.)

If you’re new to econ…

If you’re a disillusioned physicist, a bored biostatistician, or a neuroscientist looking to escape that evil  Principal Investigator, don’t worry:  An econ background is not necessary . A lot of the best economists started out in other fields, while a lot of undergrad econ majors are headed for MBAs or jobs in banks. Econ PhD programs know this. They will probably not mind if you have never taken an econ class.

That said, you may still want to  take an econ class , just to verify that you actually like the subject, to start thinking about econ, and to prepare yourself for the concepts you’ll encounter. If you feel like doing this, you can probably skip Econ 101 and 102, and head straight for an Intermediate Micro or Intermediate Macro class.

Another good thing is to  read through an econ textbook . Although economics at the PhD level is mostly about the math and statistics and computer modeling (hopefully getting back to the real world somewhere along the way when you do your own research), you may also want to get the flavor of the less mathy parts of economics from one of the well-written lower-level textbooks (either one by Paul Krugman and Robin Wells , Greg Mankiw , or Tyler Cowen and Alex Tabarrok ) and maybe one at a bit higher level as well, such as David Weil’s excellent book on economic growth ) or Varian’s Intermediate Microeconomics .

Remember to take a statistics class , if you haven’t already. Some technical fields don’t require statistics, so you may have missed this one. But to econ PhD programs, this will be a gaping hole in your resume. Go take stats!

One more thing you can do is research with an economist . Fortunately, economists are generally extremely welcoming to undergrad RAs from outside econ, who often bring extra skills. You’ll get great experience working with data if you don’t have it already. It’ll help you come up with some research ideas to put in your application essays. And of course you’ll get another all-important letter of recommendation.

And now for…

General tips for everyone

Here is the most important tip for everyone:  Don’t just apply to “top” schools . For some degrees—an MBA for example—people question whether it’s worthwhile to go to a non-top school. But for econ departments, there’s no question. Both Miles and Noah have marveled at the number of smart people working at non-top schools. That includes some well-known bloggers, by the way—Tyler Cowen teaches at George Mason University (ranked 64th ), Mark Thoma teaches at the University of Oregon (ranked 56th ), and Scott Sumner teaches at Bentley, for example. Additionally, a flood of new international students is expanding the supply of quality students. That means that the number of high-quality schools is increasing; tomorrow’s top 20 will be like today’s top 10, and tomorrow’s top 100 will be like today’s top 50.

Apply to schools outside of the top 20—any school in the top 100 is worth considering, especially if it is strong in areas you are interested in. If your classmates aren’t as elite as you would like, that just means that you will get more attention from the professors, who almost all came out of top programs themselves. When Noah said in his earlier post that econ PhD students are virtually guaranteed to get jobs in an econ-related field, that applied to schools far down in the ranking. Everyone participates in the legendary centrally managed econ job market . Very few people ever fall through the cracks.

Next—and this should go without saying— don’t be afraid to retake the GRE . If you want to get into a top 10 school, you probably need a perfect or near-perfect score on the math portion of the GRE. For schools lower down the rankings, a good GRE math score is still important. Fortunately, the GRE math section is relatively simple to study for—there are only a finite number of topics covered, and with a little work you can “overlearn” all of them, so you can do them even under time pressure and when you are nervous. In any case, you can keep retaking the test until you get a good score (especially if the early tries are practice tests from the GRE prep books and prep software), and then you’re OK!

Here’s one thing that may surprise you: Getting an econ master’s degree alone won’t help . Although master’s degrees in economics are common among international students who apply to econ PhD programs, American applicants do just fine without a master’s degree on their record. If you want that extra diploma, realize that once you are in a PhD program, you will get a master’s degree automatically after two years. And if you end up dropping out of the PhD program, that master’s degree will be worth more than a stand-alone master’s would. The one reason to get a master’s degree is if it can help you remedy a big deficiency in your record, say not having taken enough math or stats classes, not having taken any econ classes, or not having been able to get anyone whose name admissions committees would recognize to write you a letter of recommendation.

For getting into grad school, much more valuable than a master’s is a stint as a research assistant in the Federal Reserve System or at a think tank —though these days, such positions can often be as hard to get into as a PhD program!

Finally—and if you’re reading this, chances are you’re already doing this— read some econ blogs . (See Miles’s speculations about the future of the econ blogosphere here .) Econ blogs are no substitute for econ classes, but they’re a great complement. Blogs are good for picking up the lingo of academic economists, and learning to think like an economist. Don’t be afraid to  write  a blog either, even if no one ever reads it (you don’t have to be writing at the same level as Evan Soltas or Yichuan Wang );  you can still put it on your CV, or just practice writing down your thoughts. And when you write your dissertation, and do research later on in your career, you are going to have to think for yourself outside the context of a class . One way to practice thinking critically is by critiquing others’ blog posts, at least in your head.

Anyway, if you want to have intellectual stimulation and good work-life balance, and a near-guarantee of a well-paying job in your field of interest, an econ PhD could be just the thing for you. Don’t be scared of the math and the jargon. We’d love to have you.

Update:  Miles’s colleague Jeff Smith at the University of Michigan amplifies many of the things we say on his blog.  For a  complete  guide, be sure to see what Jeff has to say, too.

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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

Ph.D. Program Preparation

A PhD in economics is a research degree. Students should pursue this degree if they are interested in a career answering questions on issues from health to monetary policy to development using economic models and/or data. Although the requirements of the economics degree at Yale will give you a good foundation for graduate studies, most Ph.D. programs expect students to have taken additional courses, particularly in statistics and mathematics.

Mathematics. Most graduate programs expect familiarity with multivariate calculus (for example, Math 120), linear algebra (Math 222, or even better, a proof-based course such as 225 or 226) and real analysis (Math 255 or 256). More advanced mathematics work in linear algebra, differential equations, analysis and other proof-based courses is useful preparation for graduate work.

Econometrics and Statistics.  It is strongly recommended that students take at least two semesters of econometrics. More advanced courses in econometrics (for example financial time series or applied microeconometrics) , or in probability, statistics and stochastic processes (offered in the math or statistics departments) are useful preparation for graduate work.

Economic Theory.  Although the more mathematical theory courses (Econ 125, 126, 350, and 351) are not required for admission to graduate school, taking one or more of them gives extra preparation and exposes students to the kind of course material they can expect in graduate school.

Research Assistance. Working as a research assistant to an economist on campus  or off campus , provides excellent exposure to the type of work that PhD economists do.

Senior Essay.  The independent research experience involved in writing a senior essay is extremely valuable as preparation for graduate school.

Additional Resources.  Each year the department has an information session for undergraduate students interested in pursuing a PhD. The slides from the most recent meeting are here . The American Economic Association (AEA) has an informative section on Preparing for Graduate School  to help students wade-through the process of a terminal degree in economics.   This article in the AEA annual newsletter, Committee on the Status of Women in the Economics Profession , gives a good overview of getting into and finishing a PhD program.

AEA Summer and Scholarship Programs .  Since 1974, the AEA Summer Training Program and Scholarship Program have increased diversity in the field of economics by preparing talented undergraduates for doctoral programs in economics and related disciplines. AEASP is a prestigious program that enables students to develop and solidify technical skills in preparation for the rigors of graduate studies. As many as 20% of PhDs awarded to minorities in economics over the past 20 years are graduates of the program.

All students receive 2 months of intensive training in microeconomics, math, econometrics and research methods with leading faculty. At 3 credits per class, students have the opportunity to earn 12 college credits.

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 students complete their degree in five to six years. Students undertake core coursework in microeconomic theory, macroeconomics, and econometrics, and are expected to complete two major and two minor fields in economics. Beyond the classroom, doctoral students work in close collaboration with faculty to develop their research capabilities, gaining hands-on experience in both theoretical and empirical projects.

How to apply

Students are admitted to the program once per year for entry in the fall. The online application opens on September 15 and closes on December 15.

Meet our students

Our PhD graduates go on to teach in leading economics departments, business schools, and schools of public policy, or pursue influential careers with organizations and businesses around the world. 

Requirements for the PhD. in Economics

The Requirements for the Ph.D. degree in Economics at the University of North Carolina at Chapel Hill, effective for the entering class of 2020, consist of successfully completing:

• Course Requirements
• Doctoral Written Examination
• Doctoral Dissertation

This document describes each of these requirements in detail.

1. Course Requirements

A doctoral candidate must complete 16 Ph.D.-level courses, at least two (2) semesters of the “Dissertation Workshop” related to their Field, at least one (1) semester of the “Dissertation Completion Seminar”. The two (2) semesters of the “Dissertation Workshop” count as one of the 16 Ph.D.-level courses to be completed. [1] At least 13 of the 16 courses must be from the Economics Department unless the student’s field of specialization specifically requires additional courses from other units or the student has permission from the faculty in the field. [2] All field courses must be approved both by faculty of the relevant field and the Director of Graduate Studies (DGS). By graduate school rules, a student becomes academically ineligible to continue in the program if a student receives a grade of F, F*, XF, or nine or more hours of L in the above-mentioned courses. Academically ineligible means that the student is out of the Ph.D. program. “Out of the Ph.D. program” is the wording we will use to denote this state in the rest of the document. [3]

1.1 Courses in the Fundamentals of Economics

The courses that provide the fundamentals of economics are:

• ECON 700 and 701: Quantitative Methods
• ECON 710 and 711: Graduate Microeconomics
• ECON 720 and 721: Graduate Macroeconomics
• ECON 770 and 771: Graduate Econometrics

ECON 700 is a daily math camp offered in the first three weeks of August, and counts as a standard core course (3 credit hours).

1.2 Courses in the Fields of Specialization

Each student selects a field of specialization.

At least three (3) courses in the field of specialization are required. Current examples of field of specialization courses are available on the webpage  Field Specialization Requirements. Notice that these are only examples and new fields of specialization can be created by students under the supervision of a faculty member. The new field of specialization and the related three courses should be approved by the DGS. Examples of fields of specialization are:

• Econometrics
• Financial Econometrics
• Health Economics
• Industrial Organization
• International/Macroeconomics
• Labor Economics
• Microeconomic Theory

1.3 Courses in Supporting Fields

Supporting courses are chosen by the student in consultation with the DGS and other faculty. The supporting courses may be within the specialized field or in other areas.

1.4 Additional Course Requirements

Students are required to take at least two (2) semesters of the “Dissertation Workshop” related to their Field. Dissertation Workshops are typically taken starting in the third year of the Ph.D. program. In addition, students on the job market are required to take at least one (1) semester of the “Dissertation Completion Seminar”. The Seminar is taken in fall of the final graduation year, typically the fifth or sixth year of the Ph.D. program.

1.5 How to satisfy the 16-course requirement

In general, courses offered in the Ph.D. program in the department or approved by the DGS and taken in other departments or schools count toward satisfying the 16-course requirement. But there are the following exceptions:

• The “Dissertation Workshop” (ECON 920, 970, 985, 990) counts only ONCE even if you enroll for multiple semesters. Specifically, two (2) semesters of the “Dissertation Workshop” count as one of the 16 Ph.D.-level courses to be completed;
• The “Seminar in Teaching Methods” (ECON 805 and 806) does NOT count;
• The newly introduced workshop “Dissertation Completion Seminar” does NOT count.

2. Doctoral Written Examination

  Students must pass written qualifying examinations in econometrics, macroeconomics, and microeconomics. Students must also pass the field paper requirement. Passing the qualifying examinations and the field paper satisfies the Graduate School requirement for the doctoral written examination.

2.1 Qualifying Examination requirement

All students who have successfully completed the eight (8) courses in the Fundamentals of Economics described in Section 1.1 are required to take qualifying examinations in econometrics, macroeconomics, and microeconomics. These examinations are administered around the first week of June, are three hours each and are meant to test if the core knowledge necessary to successfully proceed in the program has been acquired by the student. Exact dates will be communicated in advance by the DGS. The qualifying examinations requirement is satisfied by accomplishing the following:

• Out of the three (3) possible grades {P, L, F} (where P>L>F), obtain at least two (2) P and one (1) L over the three exams.

The exams are prepared and graded by a qualifying examinations committee nominated by the Chair and chaired by the DGS. The grades for all three exams are communicated jointly at the end of the grading process. If a student does not satisfy the criteria on the first attempt, another attempt is offered around the end of August. Exact dates will be communicated in advance by the DGS. On the second attempt, the student is required to retake the exams graded with an F and may decide to retake the exams graded with an L. For example, if a student accomplishes {P, L, F} on the first attempt, he has to retake the F and may decide to retake the L or not. As another example, if a student accomplishes {P, L, L} on the first attempt, she has to retake at least one of the two L’s but she is free to decide which one. She may also decide to retake both to diversify risk.

If a student does not satisfy the criteria on the second attempt, a third attempt is offered the following year at the same time and with the same exams administered to the new first-year Ph.D. students. The same criteria described for the second attempt apply to the third attempt. If a student does not satisfy the criteria by the third attempt, no additional chance to pass the requirement is offered and the student is out of the Ph.D. program. [4]

2.2. Field Paper requirement

The field paper requirement is satisfied by accomplishing the following steps:

• Identify a possible advisor for the field paper. The deadline to identify a possible advisor is June 1 of the summer between the second and third year of the Ph.D. program.
• Complete a first draft of the paper. The first draft of the paper is not a complete paper but a draft that states clearly motivation, objective and methodology. It also needs to demonstrate the student’s understanding of the relevant tools and literature in the field. The deadline to complete the first draft is the first week of classes of the third year Fall semester. During preparation of the draft, the student is expected to be in regular contact with the advisor and the advisor is expected to be responsive to the student.
• Complete the final draft of the paper. The final draft of the paper is a self-contained draft that accomplishes a specific objective and implements a specific methodology. It does not need to be polished at the level of a paper ready for publication but it should constitute a substantial building block for a research paper and/or a dissertation chapter. The deadline to complete the final draft is the last day of examination week of the third year Fall semester. During preparation of the draft, the student is expected to be in regular contact with the advisor and the advisor is expected to be responsive to the student.

The Field Paper committee is composed of the advisor chosen in step 1 plus two (2) additional faculty members. The advisor will also be the faculty of reference to enroll in ECON 994 ‘Doctoral Research and Dissertation’, which is required for all Ph.D. students after two years in the program. The field paper committee decides if the field paper requirements are satisfied. If the field paper committee decides that the final draft of the paper is not satisfactory, the student fails the requirement and has the possibility to resubmit a final draft. The deadline for resubmission is the last day of examination week of the third year Spring semester. If the resubmission is not approved by the committee, the student is officially out of the Ph.D. program. The Field Paper committee decisions are shared with the DGS and the student in a timely manner.

3. Doctoral Dissertation

The Doctoral Dissertation requirement is satisfied by accomplishing the following steps:

• The  doctoral oral examination , or preliminary oral examination, consists of an evaluation of the thesis prospectus. The thesis prospectus (i.e. dissertation proposal) is discussed in front of the Dissertation committee. The student must successfully complete their prospectus by the end of the fourth year in the PhD program. If the student does not meet this deadline, to remain in good standing in the program they must submit a letter to the DGS that describes the current state of their research and a plan for timely completion of their prospectus. In this case, one faculty advisor must sign-off on the student’s research plan. If the student does not complete the prospectus by the end of the fifth year, they must exit the PhD program. If the student was unable to complete the prospectus by the end of the fifth year due to extraordinary personal or academic circumstances, they may petition to remain in the program by submitting an updated research overview and plan, signed by a faculty advisor. Students who defend their prospectus after the end of the fourth year must allow for one calendar year between the prospectus defense and graduation dates; research plans should directly acknowledge this requirement.
• The doctoral dissertation . Students work closely with members of the Dissertation committee in developing their dissertation. Consult the  Graduate School Guide to Theses and Dissertations for additional information and style requirements. Doctoral dissertations are usually completed at the end of the fifth or sixth year in the program. Overall, a student has eight (8) calendar years from the date of first registration in the doctoral program to complete the doctoral degree. [5]
• The final oral examination, or final oral defense of the dissertation, consists of a discussion of the final dissertation in front of the Dissertation committee. The deadline for the defense with respect to graduation dates is provided by the graduate school here . At the same webpage, the Graduate School also provides additional instructions for filing for graduation.

The Dissertation committee is composed by five (5) faculty members. One of the five members is the advisor. Occasionally two faculty members may act as co-advisors. One of the five faculty members may be a scholar from outside the department or the university. If students do not pass step 1 or step 3, they have the possibility of one (1) retake at a time jointly agreed upon with the dissertation committee. If the retake is also not approved by the committee, the student is officially out of the Ph.D. program.

4. Additional Remarks

The requirements described in this document are consistent with the Graduate School requirements for a Ph.D. that can be found in the Graduate School Handbook and the Graduate Catalog . We invite students to be familiar with these requirements. In addition, students should also be aware of the general University Campus Policies , the University Policies for Research , and the Graduate School Policies on Academic Integrity and Ethics .

The expression “out of the Ph.D.” program used in the text refers to a student who cannot continue in the Ph.D. program. However, these students can appeal to be reinstated in the graduate program in order to obtain a Master’s degree. Requirements to obtain a Master’s degree are here .

[1] Additional enrollments in the workshop are expected throughout the time that a student is writing the dissertation.

[2] Credits transfer one to one from other units from outside the department. For example, a half credits/half semester course in the Economics Department at Duke transfers as half credits/half semester course at UNC.

[3] When special circumstances warrant, a student made academically ineligible under the conditions stated above may be reinstated in The Graduate School upon petition initiated through the student’s academic program. In our program, this typically means that the student can be reinstated in order to complete a terminal Master degree.

[4] A student out of the PhD program can petition to be reinstated in order to obtain a Master’s of Science in Economics. Please see here for requirements about the Master’s program.

[5] Under extenuating circumstances, a student in good academic standing may be warranted a one-year extension of the degree time limit. Please see the specific Graduate School policy available here for additional details.

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Preparing for graduate school

Things to consider.

Applying to graduate school in economics can be daunting, but there are several things you can do to prepare your application and improve your odds. This section of the site demystifies the application process and provides advice for applicants.

A wide variety of resources are available.

Graduate degrees in economics

Aea summer training program, suggested application timeline, funding opportunities for graduate school, math preparation for graduate school, program rankings, understanding the job market, considerations for prospective graduate students in economics, pathways to research and doctoral careers.

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Ph.D. in Economics

The Ph.D. program at Berkeley is designed for students interested in pursuing advanced study and conducting original research in Economics. The Ph.D. degree is awarded in recognition of the recipient's qualifications as a general economist and of the ability to make scholarly contributions in fields of specialization.

In advancing to the Ph.D. degree, students pass through two major stages:

• Preparation for candidacy typically takes two to three years. During the first two semesters, students take courses to achieve competence in econometric methods, methods of economic history and fundamentals of microeconomic and macroeconomic theory. During the next two years, students prepare for examination in two fields of specialization of their choosing, prepare a dissertation prospectus, and take an oral examination. When these steps are completed, students are advanced to candidacy.
• Completion of a dissertation after advancing to candidacy typically takes one to two years. The dissertation must be based on original research and represent a significant contribution to the body of Economic knowledge.

The entire process takes approximately five to six years, although some students are able to complete the program in less time. Below is an overview of the program requirements by year and other pertinent information.

The UC Berkeley College of Letters & Science   provides students helpful resources, links, and tools for successfully completing the Ph.D. in Economics.

ECONOMICS GRADUATE STUDENT SERVICES

The economics student services mission is to advise our students holistically by providing a high standard of service in a supportive and collaborative environment.  professional and peer advisors work as a team to provide accurate information in a timely manner.  we partner with faculty to assist students in engaging with the campus and the global economic community.  we value fairness, diversity, and the important roles our students, faculty, and staff in the department of economics play at the university of california, berkeley..

If you or someone you know is experiencing financial, food, housing or other basic needs challenges - you can find support and services at:  http://tinyurl.com/UCB-BNC-C19 .

Meet the members of the Economics Graduate Student Services advising team!

Graduate Office Address:

Department of Economics

College of arts, humanities, and social sciences, recommended math courses for aspiring phd’s in economics.

Though Economists have a wide range of study areas, most PhD programs require students to be well versed mathematics in order to complete the program. At UMBC, there are many different classes to take in math and statistics to help prepare for graduate study. However, the core classes that PhD programs look for in applicants are the following:

• MATH 151  Calculus and Analytic Geometry I
• MATH 152  Calculus and Analytic Geometry II
• MATH 221  Introduction to Linear Algebra
• MATH 225  Introduction to Differential Equations
• MATH 251  Multi-variable Calculus
• MATH 301  Introduction to Mathematical Analysis I
• MATH 302  Introduction to Mathematical Analysis II
• STAT 453  Introduction to Mathematical Statistics

Click this link to see a progressive chart of recommended Math and Statistics courses for graduate study in Economics.

Rough Draft Econ Coursework

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Program requirements, degree requirements.

• Attend 3-week  Math Camp  during the summer preceding the first year (usually begins in late July)
• ECON 701D Microeconomics Analysis I
• ECON 702D Macroeconomics Analysis I
• ECON 703D Econometrics I
• ECON 705D Microeconomics Analysis II
• ECON 706D Macroeconomics Analysis II
• ECON 707D Econometrics II
• Two semesters of ECON 704  First-Year Research Workshop (6 credits)
• Qualify in each of the first-year core sequences in Microeconomics, Macroeconomics and Econometrics 
• 3 credits of technical skills modules  (ECON 890), to be completed during Summer Term II prior to the second year.
• Two semesters of ECON 801  Writing and Presenting in Economics (6 credits), to be taken Spring Semester of the second year, and Fall Semester of the third year
• 15 credits of field courses/modules , (typically ECON 880-888) to be completed by the end of the third year 
• Applied Microeconomics
• Econometrics
• History of Political Economy
• Macroeconomics and International Economics
• Microeconomic Theory
• Major field requirement: 6 credits (four modules  OR  two courses) in the field, and a field exam, to be completed by the end of the second year. Field Paper to be completed by the end of the first semester of the third year.
• Minor field requirement: 6 credits (four modules  OR  two courses) in the field to be completed by the end of the third year
• Seminar/Lunch Group course series: ECON 950-959 (1.5 credits per semester)
• Workshop course series: ECON 900-909 (3 credits per semester)
• Additional course credits as approved by the director of graduate studies
• Pass the   preliminary examination   by the end of the third year
• Present a preliminary  job market paper  each year after the third year until the job market year
• Present a   job market paper   during the fall semester of the job market year
• Dissertation
• Pass a  final examination   by the end of the fifth or sixth year; required to be completed within four years of the preliminary examination 
• Responsible Conduct of Research Training

Course Details

Core Courses:  In rare circumstances, students may place out of one of these courses, but only with the approval of the Director of Graduate Studies. In this case, students may register for additional courses in applied economics, statistics, business, mathematics or other fields of interest. Students qualify in the core subjects by either achieving a combined average of B+ or higher in the two semester core courses, or achieving a passing grade on the core qualifying subject exam. The student's  cumulative GPA  in the six core courses must be 3.0 or higher at the end of the first year.

Course Structure for the Second Year and Beyond:  After the first year, many of the upper-level courses in economics are divided into half-semester modules. The purpose of this structure is to allow students to take courses along methodology lines rather than field lines and to better align coursework with their research interests. By their nature, modules only count for 1.5 credits and students must complete enough of them to fulfill their graded course requirements. Module courses are all currently listed under special topics course number ECON 881-890. Students who wish to major in an Applied Microeconomics field have some flexibility in their choice of courses, but must obtain explicit approval of their course plan from their advisor.

Students must pass all classes. A failing grade in a class results in immediate removal from the program.

Undergraduate Courses:  Beginning Fall 2018, Ph.D. degree requirements are not based on credit hours, and Ph.D. students can take as many undergraduate courses as necessary to meet an educational goal defined by them or their faculty advisers. Undergraduate courses do not count toward Ph.D. student's GPA. 

Graduate students who wish to enroll in courses below the 500 level must get approval from their director of graduate studies and from The Graduate School’s associate dean for academic affairs by submitting a permission form . These courses will not count toward graduate credit or GPA.  

For International Students

International students whose first language is not English are required to take a writing and speaking exam administered by the English for International Students (EIS) program. This requirement applies to all students, and is over and above the submission of the TOEFL or IELTS score. Under certain circumstances, some students may be exempt if their undergraduate degree is from an institution in an English-speaking country. Please note that the purpose of these exams is not to measure English proficiency. Rather, they assess whether you will benefit from targeted training in academic speaking and writing in order to succeed in your academic career here and beyond, and in which English for International Students (EIS) classes you would be best placed. While required by The Graduate School, these courses will not count toward our degree programs' course requirements.

Additional information about the EIS program and courses currently offered can be found on The Graduate School's English for International Students website.

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Economics (PhD)

Program description, dual degrees.

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 PhD 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.

All applicants to the Graduate School of Arts and Science (GSAS) are required to submit the  general application requirements , which include:

• Academic Transcripts
• Test Scores  (if required)
• Applicant Statements
• Résumé or Curriculum Vitae
• Letters of Recommendation , and
• A non-refundable  application fee .

See Economics for admission requirements and instructions specific to this program.

The Economics Department offers two dual degrees with the NYU School of Law:

• Economics (MA)/Law (JD)
• Economics (PhD)/Law (JD)

See Economics for additional information and admission requirements specific to these programs.

Program Requirements

To qualify for a doctorate, a student must satisfactorily complete graduate studies totaling at least 72 credits (at least 64 in residence at New York University), pass two PhD qualifying examinations in microeconomics and macroeconomics, and fulfill the requirements for two fields of specialization, such as economic theory (including game theory), monetary theory and macroeconomics, political economy, econometrics, industrial organization, international economics, labor economics, development economics, and experimental economics. Students must also write and present a third-year paper and, finally, defend an acceptable dissertation.

Additional Program Requirements

After completing the required coursework, field requirements, and submitting a satisfactory third-year paper, students will submit a formal dissertation proposal which serves as the basis for a preliminary oral examination. When the dissertation is completed and approved by three faculty members, a public oral examination is held, at which research results are presented and defended by the candidate before a faculty committee.  All Graduate School of Arts & Science doctoral candidates must also be approved for graduation by their department for the degree to be awarded.

Sample Plan of Study

Following completion of the required coursework for the PhD, students are expected to maintain active status at New York University by enrolling in a research/writing course or a Maintain Matriculation ( MAINT-GA 4747 ) course.  All non-course requirements must be fulfilled prior to degree conferral, although the specific timing of completion may vary from student-to-student.

Learning Outcomes

Upon successful completion of the program, graduates will have achieved the following skills and abilities:

• The first year of the program is devoted to training in core analytical skills in micro- and macroeconomic theory, mathematics, and econometrics. Progress is measured by course grades and end-of-year qualifying exams in micro- and macroeconomic theory. Students must pass both qualifying exams and maintain a grade-point average of at least 3.0 in order to be in good standing. Those who pass the qualifying exams but whose GPA falls short of 3.0 are typically placed on probation for one or two semesters and given an opportunity to raise their GPA above 3.0. Those who fail either of the qualifying exams are asked to leave the program.
• The second year is devoted to developing specialized knowledge in two fields in economics, such as economic theory, macroeconomics, development economics, econometric theory, labor economics, industrial organization, finance, experimental economics, international economics, or political economy. Progress is measured by course grades and in some cases by administering field exams or requiring students to write substantial papers. To remain in good standing, students must complete the requirements for two fields while maintaining a cumulative GPA of at least 3.0.
• The main objective of the third year is to begin original research. Students are required to find a faculty advisor, write an original research paper, and participate in a year-long research workshop. In addition, they are encouraged to take additional elective courses to fill out their substantive knowledge. To remain in good standing, students must complete a third-year paper and maintain a cumulative GPA of at least 3.0.
• The remaining years of the program are devoted to writing an original PhD dissertation. This typically consists of 2 or 3 research papers that can eventually be published in a professional economics journal. During these years, students work closely with one or more faculty advisors who guide their research and serve as mentors. Twice a year, advisors fill out an assessment form stating whether students are making satisfactory progress toward completing their dissertations. Those who fall behind are given feedback on how to get back on track.
• Along the way, a student must submit a formal dissertation proposal that serves as the basis for a preliminary oral examination. When the dissertation is completed and approved by three faculty members, a public oral examination is held at which the candidate presents and defends research results before a faculty committee. The dissertation defense is the final and perhaps most important assessment measure.

NYU Policies

Graduate school of arts and science policies.

University-wide policies can be found on the New York University Policy pages .

Academic Policies for the Graduate School of Arts and Science can be found on the Academic Policies page . 

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• Administration
• Applied Math/Economics

The Applied Math/Economics (AM/Ec) "marriage" is a rational one. Mathematical modeling is used extensively in economics, and the foundation of economic theory is formed on a mathematical basis.

The Applied Math/Economics requirements include five Economics classes:

• ECON 1010A or ECON 1011A (preferably ECON 1011A)
• One of ECON 1126, STAT 186, or STAT 111
• Two economics classes from this list (if you would like more information on which courses historically counted, please email [email protected] )

Ordinarily, Applied Math / Economics does not give concentration credit for the less mathematical classes ECON 1010B or ECON 1123.

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PhD in Economics

McMaster’s community of scholars includes faculty, postdoctoral fellows, research assistants, and graduate students. Through this program, students will become independent, professional economists using state-of-the-art methods to analyze economic phenomena. Areas of specialization include Econometrics, Growth and Monetary, Health, International, Labour, Population, and Public Economics.

We admit 5-8 PhD students each year, which results in small classes and intensive interaction between students and faculty. PhD students may choose a co-op option (formally called Work Integrated Learning) associated with this program after passing the comprehensive exams.   

About the Program

Graduates of the PhD program in economics become professional and independent economists able to analyze economic phenomena using state-of-the-art techniques. Graduates primarily pursue one of two career tracks. One is to become an economics professor. We regularly place our graduates in academic positions, both in departments of economics and in interdisciplinary settings with a strong economics focus, such as schools of public policy. A second option is a career in the public or private sector. We place our graduates in high-quality research positions within government ministries and agencies, such as the Department of Finance and the Bank of Canada, in international organizations, and, less frequently, in the private sector.   

Faculty members of the department are affiliated with or lead a number of research facilities and centers at McMaster. These centers and facilities support economics research by graduate students.  Secure Empirical Analysis Lab (SEAL) houses a wide range of confidential micro-data that can be used to conduct research in the areas of education, charities, and public services, with data holding expanding on a continuous basis. Statistics Canada Research Data Centre (RDC) (Mike Veall, Director), houses the master files of a large variety of Statistics Canada survey data plus an increasing array of public-sector administrative microdata (e.g., census data, vital statistics, employment data, justice system data) that support economic research. Canada’s first computer-mediated experimental economics laboratory, the  McMaster Decision Science Laboratory (McDSL) (Bradley Ruffle, Director) provides the capability for conducting controlled economic experiments across a wide range of economic fields. The Faculty of Social Science is committed to developing state-of-the-art facilities for empirical research, including expanded microdata analysis and economic experiments in the L.R. Wilson Hall.  

Requirements and Timelines

The first phase is passing the comprehensive macroeconomic and microeconomic theory exams. To accomplish this, students must complete the following coursework:    

• two microeconomics theory courses (ECON 721** and ECON 722)   
• two macroeconomic theory courses (ECON 723** and ECON 724)   
• two econometrics courses (ECON 761* and ECON 762)   
• ECON 765 (as it is a required course)   
• elective courses must be passed prior to writing comprehensive examinations in any area (see phase 2)     

Students entering the PhD program from our MA in Economics program will already have completed the required courses and two electives; these students would require approximately six more electives. The Economics waiver exam may allow PhD students who enter the PhD program from another university to receive credit for ECON 761. Electives must be chosen so that the student satisfies the coursework requirements of his or her chosen fields for comprehensive exams (see the list below). Most electives are taken from courses offered by the economics department, but a student may also take up to two courses from other departments, with the approval of the graduate chair (economics) and the course instructor. Students in recent years, for example, have taken finance courses offered by the DeGroote School of Business , health-related courses offered by the Faculty of Health Sciences , and statistics courses offered by the Department of Mathematics and Statistics .   

After the successful completion of the first year of coursework, comprehensive exams in micro and macro theory are typically given in May or June.  

Phase 2    

The second phase involves passing comprehensive exams in two areas of specialization and writing a research paper. The field examination committee may require that candidates complete specific courses before taking these exams. Below are the typical areas of specialization and the typical courses required for each. A graduate chair may, however, permit additional specializations in areas where the department has a research strength provided they are based on courses offered by the department.   

The fields currently available are:  

• Econometrics  
• Experimental Economics  
• Growth and Monetary Economics   
• Health Economics   
• International Economics   
• Labour Economics   
• Macroeconomics  
• Microeconomics  
• Population Economics   
• Public Economics   

Field exams are normally written after the second year of coursework has been successfully completed. Candidates have two chances to pass each comprehensive exam. Within 18 months of starting the program, students must pass the micro and macro theory comprehensive exams. The exams must be completed within 24 months of beginning the program. Within 27 months of entering the doctoral program, the student must complete a research paper. The research paper will be presented in the Fall term during the PhD workshop discussed below. The research paper must be accepted by the supervisory committee.     

Phase 3    

The thesis is the third phase. At this point, students may choose to enroll in additional courses if they are relevant to their proposed research. With the approval of the Graduate Chair, up to four half courses may be taken outside of the department. In addition to writing a thesis and taking courses, students must achieve the Active Researcher Milestone which involves participating in the department’s research activities (for example, by attending seminars, PhD workshops and meeting with visiting speakers) and regularly presenting their research. The Active Researcher Milestone must be achieved annually until graduation.     

At this stage, students are required to complete the following seminar courses. Students who have passed all their comprehensive examinations should register for ECON 798 in the Fall term that immediately follows and present the research paper. Doctoral students typically take a total of 12-14 graduate courses at this university.     

ECON 798: Workshops in Economics I   

ECON 799: Workshops in Economics II     

Co-op Option: Students in the PhD program who have successfully completed the comprehensive examinations may apply for the co-op option associated with this degree program. The number of students who will be accepted will be small and will depend on available placements. To complete the PhD co-op option, the student must work a total of eight months in either one or two placements and successfully complete both ECON 796 Economics Co-op Work Term I and ECON 797 Economics Co-op Work Term II.   

*A student who has a particularly strong background in econometrics can elect to write the econometrics waiver exam. Students who pass the waiver exam are allowed to replace ECON 761 (term 1 of econometrics) with an elective course. These students take ECON 762 in term 2 and complete the econometrics project. Credit for ECON 761 will appear on their transcripts.  

**All students registering in ECON 721 (Micro Theory 1) or ECON 723 (Macro Theory 1) are encouraged to take the mathematics preparation course ECON 765, an intensive ten-day refresher course in mathematics (MATH CAMP). Math camp is given in August, prior to the start of regular graduate courses for the fall term. After the completion of this course, students are tested regarding their mathematics preparation. The course has two parts. Part I covers topics related to ECON 721-Micro Theory I and part II covers topics related to ECON 723-Macro Theory I and matrix algebra. Each part has its own final exam. Students registered in ECON 721(ECON 723) must write the exam related to part I (part II). A student’s score on the part I (part II) exam counts as 10% of the student’s final grade in ECON 721-Micro Theory I (ECON 723-Macro Theory I).   

***Incoming students are strongly encouraged to enroll in ECON 4T03 so they are well prepared for first term micro.  

Admissions and Applications

The application portal opens on November 15 th and closes on January 14th . 

Learn more about the graduate studies application process and how to apply .

As a minimum, a standard Canadian entrant into our PhD program will have a Master’s degree in economics from a recognized university and will have maintained B+ average in their master’s study. We emphasize that these are minimum standards; those admitted typically have stronger academic records.  

Students from foreign universities are expected to have equivalent backgrounds. Although equivalency is difficult to determine, here are some guidelines for a few countries from which we commonly receive inquiries:  

• India: First-class standing for the Bachelor’s degree and upper-second-class standing for the Master’s degree.  
• Bangladesh and Pakistan: First-class standing in both the bachelors and master’s degrees.  
• China: A four-year degree with an average of at least 85%. The subject area must be ECONOMICS, not business. Strong skills in mathematics and statistics/econometrics are expected.  

A student whose native language is not English, and who has not completed an English-language degree in a predominantly English-speaking country, must submit a TOEFL or IELTS score. The minimum acceptable TOEFL score for the Dept of Economics is 580 (237 on the computerized exam; 92 iBT); the minimum acceptable IELTS score is 7.5 . Please note, the minimum requirement for the Dept of Economics is higher than the School of Graduate Studies minimum of 6.5.  

If you have any questions email them to [email protected] . Please be patient all emails will be answered.  

**If your transcript states the medium of instruction was English or you submit a letter with your application from the University stating your medium of instruction was English then that will waive your ELP requirement and a test result will not be required**  

Please note if you submit a score lower than 7.5, your application will not be reviewed. It is imperative that you meet the testing requirements noted above.   

Required Document Checklist:  

• Application Form and Fee  
• Two letters of reference  
• Academic transcripts  
• Statement of interest  
• Writing Sample (Paper or Essay – there is no minimum words and it must be single author)  
• CV/ Resume  

As reference links are sent after your application is submitted, it is highly recommended that you apply at least one week before the January 15th deadline, as this will allow for references and other documents be received in time.  

Financial Information, Scholarship and Awards

Information on Graduate Program fees can be found on the Office of the Registrar website.

Financial Aid  

Students to whom we offer admission are automatically considered for financial assistance – no special forms need be filled out. Funding is awarded on academic excellence and the availability of funds. Funding is open to all domestic and international students.  

All students admitted to the PhD program are offered two forms of financial assistance. The first is a Teaching Assistant (TA) position, which normally requires the student to perform 130 hours of marking or tutoring in each of the fall and winter terms. The second is scholarship support. In addition, many upper-year PhD students receive support in the form of a Research Assistantship (RA) in lieu of a TA, in which they work on a research project with a faculty member. The minimum annual financial assistance provided to a PhD student is $17,500 during each of first four years of doctoral study. If a student’s study extends beyond four years, financial assistance as a TA or RA may be available, but it is not guaranteed. Finally, in addition to the financial assistance provided in a letter of offer, students are eligible for TA and RA positions during the spring and summer terms, which provides support above that available during the Fall and Winter terms.  

Trudeau Scholarship: Students in the 1st or 2nd year of the doctoral program or those applying to the doctoral program are eligible. For more information regarding eligibility and the application process, please click here .  

Additional information on external scholarship support can be found at the following sites:  

• Student Financial Aid and Scholarships  
• SSHRC Doctoral Scholarships and Fellowships  
• School of Graduate Studies Scholarship Information  
• Commonwealth Scholarships  

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Department of Economics

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Mathematical economics major.

The Mathematical Economics Major is intended for students with a strong intellectual interest in both mathematics and economics and, in particular, for students who may pursue a graduate degree in economics. Advanced economics makes extensive use of formal mathematical models. The major introduces undergraduate students to rigorous theoretical-quantitative and empirical-quantitative approaches to the analysis of economic problems. In comparison to the  Economics Major  offered by the Economics Department, the Mathematical Economics Major emphasizes a more formal mathematical analysis, preparing students for academic-style research in economics.  The Mathematical Economics Major consists of a minimum of 16 courses. Approximately half of the courses are economics courses and the other half are mathematics courses.

Department of Economics

Aeasp 2024 scholar awa gaye.

Awa is a recent graduate of Whitman College with a bachelor's in economics and mathematics-statistics. Born and raised in Senegal, she aspires to become a quantitative social scientist with the goal of actively participating in gender inclusive economic policy strategy and reinforcement. Her research interest is in development economics with a focus on the impact and contribution of informal women-led institutions in developing countries. She hopes to utilize empirical methods to tackle issues such as poverty and inequality while developing policies that are sustainable, effective, and inclusive. In her free time, Awa enjoys trying new recipes, reading, and participating in sports.

BSc Mathematics and Economics

Introduction, preliminary readings.

Mathematics and economics are inextricably linked in modern society. This BSc Mathematics and Economics allows you to study both topics in depth – dedicating roughly the same amount of time to each subject.

The programme is carefully structured to focus on mathematical and statistical topics that are highly relevant to economics and finance. You’ll dive into key mathematical methods, such as algebra and calculus, and statistical theory. In parallel, you’ll study how these principles are applied in macroeconomics, microeconomics and mathematical economics.

This degree is taught jointly with our world-class Department of Economics. There is a strong focus on building your quantitative knowledge – increasingly important for a successful career in finance, accounting and other sectors.

This degree will be of interest to all mathematically or scientifically minded students, regardless of whether you’ve studied economics previously.

Mathematics as it is applied in economics and finance

• M Anthony and N Biggs Mathematics for Economics and Finance (Cambridge University Press, 1996)
• L Alcock How to Study for a Mathematics Degree (Oxford University Press, 2013)
• T Harford The Undercover Economist (Oxford University Press, 2006)

Mathematics

Much of university level mathematics is concerned with formal proofs and rigorous mathematical argument, and this is necessary for some of the advanced mathematics required in finance, economics, and other fields of application. For an introduction, we recommend:

• R Allenby Numbers and Proofs (Butterworth-Heinemann, 1997)
• P Eccles An Introduction to Mathematical Reasoning (Cambridge University Press, 1997)
• T Gowers Mathematics: a very short introduction (Oxford University Press, 2002)
• M Liebeck A Concise Introduction to Pure Mathematics (Chapman & Hall/CRC Mathematics, 2005)

Entry requirements

Here, you can check our entry requirements for GCSEs, A-levels (please read them alongside our information about subject combinations) and the International Baccalaureate (IB) Diploma. We also consider applications from students with a range of other UK qualifications and from overseas. Please select the overseas button below and choose your country from the dropdown list to find the equivalency to A-levels of your qualification.

Additional tests

For GCSEs, you’ll need several GCSE grades at A (or 7) and A* (or 8-9).

As a minimum, we ask for GCSE English Language and Mathematics grades at B (6) or higher. We’ll also consider your overall GCSE subject profile.

A*AA, with an A* in Mathematics

Where it's offered by your school or college, AS- or A-level Further Mathematics is expected to be taken and a grade A achieved.

We also consider your AS grades, if available.

Contextual admissions A-level grades

A*AB with an A* in Mathematics

Read our undergraduate admissions information to learn more about contextual admissions.

A-level subject combinations

• We consider your combination of subjects as well as your grades.
• A broad mix of traditional academic subjects provides the best preparation for studying at LSE. We expect applicants to have at least two full A-levels (or equivalent) in these subjects.
• An A* in Mathematics is required. However, an A* in Further Mathematics and an A grade in Mathematics would be an acceptable alternative.
• We’ll consider a combination of Mathematics, Further Mathematics and one other subject. Other typical subjects include Chemistry and Physics. You don’t need to have studied Economics previously.

Find out more about A-level subject combinations .

38 points overall, including 766 in higher level subjects, with 7 in Mathematics: analysis and approaches.

Contextual admissions IB grades

37 points overall, including 765 in higher level subjects, with 7 in Mathematics: analysis and approaches.

Applicants are encouraged to take the  Test of Mathematics for University Admission (TMUA) . The test is not compulsory, however a good performance on the test may help in securing an offer.

We welcome students from all walks of life at LSE. We want to recruit students with the very best academic merit, potential and motivation. So, whatever your background, please do apply. Get all the details on our general  entry requirements .

Competition for places at LSE is high. We cannot guarantee you an offer of a place even if you’re predicted or achieve our standard entry requirements.

Our standard offer requirements are intended only as a guide and, in some cases, you’ll be asked for different grades.

Programme content

Why study with us.

Discover more about our students and department.

Student stories

Meet the department.

The Department of Mathematics aims to be a leading centre for the study of mathematics in the social sciences.

The department has a vibrant intellectual community, with fantastic students, internationally respected academics and high-achieving alumni. Our department has grown rapidly in recent years, with exciting developments in research and new teaching programmes and courses.

This research encompasses four main overlapping areas:

• discrete mathematics and algorithms
• mathematical game theory
• financial and related mathematics
• operational research.

All aspects of our research were ranked world-leading or internationally excellent in the most recent Research Excellence Framework (2021), submitted jointly with the Department of Statistics.

We embrace the School’s ethos of research-led teaching. Currently, we offer four undergraduate and three postgraduate programmes, as well as doctoral research opportunities on our MPhil/PhD in Mathematics. These programmes are all in high demand – attracting talented students from diverse backgrounds.

Our programmes are highly interdisciplinary and we have close ties with other departments at LSE, including Statistics, Economics, Finance, Management and the Data Science Institute.

Whatever your study route, you’ll benefit from a welcoming, inclusive and friendly learning environment where students and staff are supported to achieve their best.

Learn more about our programmes , recent research and regular events and seminars .

Department of Mathematics

2nd In Europe

5th In the world

1st We're ranked top university in London for the 12th year running

Carbon neutral in 2021 lse became the first carbon neutral verified university in the uk, your application, who attends.

We consider each application carefully, taking into account all the details you’ve included on your UCAS form, such as:

• academic achievement , including predicted and achieved grades (also see specific information about this programme in the "entry requirements" above)
• subjects and subject combinations  (also see specific information about this programme in the "entry requirements" above)
• your personal statement
• your teacher’s reference
• educational circumstances

You may also have to provide evidence of your English proficiency, although this is not needed at the application stage.  See our English language requirements page .

We’re looking for students who demonstrate:

• an equal interest in mathematics and economic
• an understanding of the links between the two disciplines
• involvement in related extra-curricular activities, such as maths competitions or Olympiads
• the ability to think and work independently
• intellectual curiosity and the ability to ask incisive questions
• logical thinking and the ability to follow complex lines of reasoning
• creativity and flexibility in problem-solving
• great organisational and communication skills
• self-motivation and a willingness to work hard.

Fees and funding

The table of fees shows the latest tuition fees for all programmes.

You're charged a fee for each year of your programme. Your tuition 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 doesn't cover living costs or travel or fieldwork.

Your tuition fees, and eligibility for any financial support, depend on whether you’re classified as a home or an overseas student – known as your fee status. We assess your fee status based on guidelines from the UK Government’s Department for Education.

Learn more about fee status classification .

Scholarships, bursaries and loans

We recognise that the cost of living in London may be higher than in your home town or country. LSE provides generous financial support, in the form of bursaries and scholarships, to UK, EU and overseas students.

Additionally, the UK Government provides loans to UK and some EU students. Some overseas governments also offer funding.

Further information on tuition fees, living costs, loans and scholarships .

Learning and assessment

How you learn, how you're assessed.

Format and contact hours: you’ll usually attend two lectures and one related class for each course per week (eight lectures and four classes). Additionally, you’ll work on exercises in your own time, which are discussed in weekly classes with around 15 students. Hours vary depending on the course. Further details are given in the Calendar within the Teaching section of each course guide .

LSE teaching: all courses include seminars, classes and/or computer workshops to help you develop a deeper understanding of concepts and methods introduced in lectures. In computer workshops, you’ll work on practical data exercises using software and programming languages (mainly Python). Classes and workshops provide a great opportunity to ask questions about the lecture material and other related topics.

LSE is internationally recognised for teaching and research and our academics have wide-ranging expertise. Courses may be taught by our faculty staff, guest teachers and visiting members of staff, LSE teaching fellows and graduate teaching assistants, who may be doctoral research students.

Learn about the teacher responsible for each course in the relevant  course guide .

Academic support

Academic mentor: you’ll meet with your academic mentor regularly to discuss your work. Your mentor can provide advice and guidance on academic issues and, where appropriate, personal concerns.

Other academic support: at LSE, we offer lots of opportunities to extend your learning outside the classroom.

LSE LIFE is a great place to get advice and practise the skills you’ll need during your studies and beyond.

Through LSE LIFE, you can:

• attend workshops on developing leadership skills, finding the right study/work/life balance and preparing for the world of work
• develop your reading, academic writing and critical-thinking skills
• gain experience of working in study groups and develop your cross-cultural communication and teamwork skills.

Disability and Mental Health Service: we want all LSE students to achieve their full potential. Students can access free, confidential advice through our Disability and Mental Health Service . This is the first point of contact for students.

Your timetable

• The standard teaching day runs from 9am to 6pm, Monday to Friday. Undergraduate teaching is not normally scheduled for Wednesdays after 12 noon to allow for sports, volunteering and other extra-curricular activities.
• The lecture and seminar timetable is published in mid-August and the full academic timetable (with information on classes) is published by mid-September via the LSE timetables web pages .
• All personal undergraduate timetables are published in LSE for You (LFY) . For personal timetables to appear, you must be registered at LSE, be signed up for courses in LFY and ensured that there are no unauthorised clashes in your course selections. We try our best to minimise changes once personal timetables have been published. However, you’ll be notified about any changes by email.

Formative coursework

All taught courses include formative coursework, which is not assessed. This helps prepare you for summative assessment. We use a range of formative assessment methods, such as essays, case studies, reports, quizzes and mock exams.

Feedback is an essential part of the learning experience at the School. You’ll receive feedback on any formative coursework within three weeks, provided it’s submitted on time.

Summative assessment

This assessment counts towards your final course mark and degree award.

Summative assessment includes exams for most courses at the end of each year (May or early June). Some courses also include assessments in January.

You’ll receive feedback on any summative coursework as part of the assessment for individual courses (except for final submitted dissertations). Feedback will normally be provided before the examination period.

Please note that assessment on individual courses can change from year to year. See details of the current formative coursework and summative assessment for each course in the relevant  course guide .

Find out more about LSE’s teaching and assessment methods .

Graduate destinations

Career support.

Recent graduates have gone on to work in the areas of corporate finance, accountancy, management, and banking. Many have pursued graduate study in areas related to mathematics, economics, or both.

Further information on graduate destinations for this programme

Explore our Alumni Stories

Median salary of our undergraduate students 15 months after graduating:

Top 3 sectors our students work in:.

From CV workshops through to careers fairs, LSE offers lots of information and support to help you make that all-important step from education into work.

Many of the UK’s top employers give careers presentations at the School during the year and there are numerous workshops covering topics such as job hunting, managing interviews, writing a cover letter and using LinkedIn.

See LSE Careers for further details.

Discover Uni

Every undergraduate programme of more than one year duration will have Discover Uni data. The data allows you to compare information about individual programmes at different higher education institutions.

Programmes offered by different institutions with similar names can vary quite significantly. We recommend researching the programmes you're interested in and taking into account the programme structure, teaching and assessment methods, and support services available.

Find out more

Explore lse, student life.

Student support

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