penn state university phd economics

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Economics, PhD

The graduate economics program at Penn is a Ph.D. program administered by the Graduate Group in Economics, which consists of the faculty of the Department of Economics, and some of its secondary appointments in the Wharton School and the School of Arts and Sciences. A master's program in Economics is not offered at the University of Pennsylvania.

The program trains students to conduct outstanding research in economics. All major areas of economics are covered, with particular strengths in theoretical and empirical microeconomics, and in modern macroeconomics. Graduates of the program obtain positions at leading universities, research institutions, and government agencies around the world.

Students in this program first acquire a thorough knowledge of economic theory and econometric methods before they begin their own research. They meet a series of requirements during their first years in the program, and thereafter devote most of their time to the writing of a dissertation. The median length of time required for completion is 5.25 years (however both shorter and longer periods are possible). Almost all students are supported by combinations of fellowships, research assistantships, and teaching assistantships during at least their first five years of study.

For more information: http://economics.sas.upenn.edu/graduate

View the University’s Academic Rules for PhD Programs .

Required Courses

A minimum of 16 course units are required. A minimum of 12 course units must be taken at the University of Pennsylvania.

The degree and major requirements displayed are intended as a guide for students entering in the Fall of 2023 and later. Students should consult with their academic program regarding final certifications and requirements for graduation.

Sample Plan of Study

By the end of the 3rd year in residence, students must have passed four 7000-level ECON courses (excluding 7100, 7110, 7200, 7210, 7300, 7310, 8100, 9110, 9200, 9300, 9400 and 9450, the workshops) with a grade of A- or higher. Credits must total 16 before going on dissertation status.

The Empirical requirement is often fulfilled after students finish taking the four upper level courses requirement.

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Karun Adusumilli

[email protected]

Personal Page

Assistant Professor of Economics, (LEAVE FALL 2023)

Francesco Agostinelli

[email protected]

Assistant Professor of Economics

Juan Pablo Atal

[email protected]

Assistant Professor

Jere R. Behrman

215-898-7704

[email protected]

William R. Kenan, Jr. Professor of Economics (LEAVE SPRING 2024)

Aislinn Bohren

215-573-6233

[email protected]

Associate Professor of Economics (SPRING LEAVE 2024)

Juan Camilo Castillo

[email protected]

215-898-6775

[email protected]

Professor of Economics

Harold L. Cole

215-898-7788

[email protected]

James Joo-Jin Kim Professor of Economics

Francis X. Diebold

215-898-1507

[email protected]

Paul F. and Warren S. Miller Professor of Economics, Professor of Finance; Professor of Statistics

David Dillenberger

215-898-1503

Alessandro Dovis

[email protected]

Associate Professor of Economics

Hanming Fang

215-898-7767

[email protected]

Joseph M. Cohen Term Professor of Economics

Jesus Fernandez-Villaverde

215-898-1504

[email protected]

Howard Marks Presidential Professor of Economics (LEAVE SPRING 2024)

Wayne Yuan Gao

215-898-1506

[email protected]

Shresth Garg

Jeremy Greenwood

215-898-1505

215-898-8206

[email protected]

Joachim Hubmer

215-898-8761

[email protected]

Dirk Krueger

215-573-1424

[email protected]

Walter H. and Leonore C. Annenberg Professor in the Social Sciences and Professor of Economics; Professor of Finance

215-898-9619

[email protected]

Assistant Professor (arriving fall 2025, Post-Doctoral Fellow at Princeton University for AY 2024-2025)

Margaux Luflade

[email protected]

George J. Mailath

215-898-7908

[email protected]

Professor of Economics, Walter H. Annenberg Professor in the Social Sciences

Iourii Manovskii

215-898-6880

[email protected]

Steven Matthews

215-898-7749

[email protected]

Enrique G. Mendoza

[email protected]

215-898-0499 (econ) or 215-898-0232 (Wharton)

[email protected]

Personal website

George A. Weiss and Lydia Bravo Weiss University Professor (Leave AY 2023-24)

[email protected]

Assistant Professor (arriving fall 2024, Junior Scholar at the Federal Reserve Bank of Minneapolis 2023-24)

Guillermo Ordonez

215-898-1875

[email protected]

Professor of Economics, Professor of Finance

Andrew Postlewaite

215-898-7350

[email protected]

Harry P. Kamen Professor of Economics; Professor of Finance

José-Víctor Ríos-Rull

[email protected]

Lawrence R. Klein Professor of Economics; DIRECTOR OF PENN INSTITUTE FOR ECONOMIC RESEARCH

Frank Schorfheide

215-898-8486

[email protected]

Christopher H. Browne Distinguished Professor of Economics

Andrew Shephard

215-898-7408

[email protected]

Holger Sieg

215-898-7194

[email protected]

Baird Term Professor of Economics (LEAVE AY 2023-2024)

[email protected]

Edmund J. and Louise W. Kahn Term Professor of Economics

Rakesh Vohra

215-898-6777

[email protected]

George A. Weiss and Lydia Bravo Weiss University Professor

M.A. Program

Who can benefit.

The program is well suited to those:

• wishing to pursue a career that requires an advanced degree in economics
• who want to pursue a Ph.D in economics but need more preparation to get into a top program
• with undergraduate training in economics in an institution that is less known to US employers and institutions

Why Penn State?

Our m.a. program.

• is administered and taught by the same tenured and tenure-track faculty who teach and supervise our PhD students. Learn more by visiting our  faculty directory
• provides rigorous training in quantitative approaches as well as in economic theory. It will prepare our students for future economics-related careers, whether they are academic or not
• provides numerous research opportunities within the Department which is one of the top research institutions in the country
• offers qualified students the opportunity to take our PhD courses

STEM Designation

Our graduate program (MA and PhD) has been reclassified as STEM (CIP Code 45.0603: Econometrics and Quantitative Economics). Students in STEM degree programs can apply for a 24 month STEM extension of F1 Optional Practical Training (OPT).

Liberal Arts About the College

Information on the honors code and the college values statement for graduate students available at:

• College of the Liberal Arts Values Statement
• College of the Liberal Arts Honors Code

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Economics, B.S.

Program Code: ECLBS_BS

At which campus can I study this program?

Begin Campus

Any Penn State Campus

University Park, World Campus

Program Description

This major is designed for those who seek a broad understanding of the operation of the economic system and training in the methods and uses of economic analysis. Graduates are equipped for employment in many areas of business operations, labor unions, and agencies of government at all levels; and to undertake the graduate work necessary to become professional economists.

The B.S. degree program is intended for students with a strong interest in quantitative skills. An honors program is also offered.

What is Economics?

Economics is the study of how individuals, firms, and governments allocate their scarce resources. This major is designed for those who seek a broad understanding of the operation of the economic system and training in the methods and uses of economic analysis. Graduates are equipped for employment in many areas of business operations, labor unions, and agencies of government at all levels; and to undertake the graduate work necessary to become professional economists.

You Might Like This Program If...

You have an interest in decisions made by individuals and firms, policies made by governments, and their effects. Economists advise presidents, make forecasts about unemployment and the stock market, and create Federal Reserve Bank policies. But economists also study health care, crime, environmental issues, inequality, and more. Perhaps most importantly, Economics provides knowledge and logic for making everyday decisions, big and small. This includes everything from where to eat lunch to what career you choose.

Entrance to Major

To be eligible for entrance into the Economics (ECLBS) major, a degree candidate must satisfy requirements for entrance to the major.

Specific entrance requirements include:

The degree candidate must have completed the following entrance-to-major requirements with a grade of C or better: ECON 102 and ECON 104 .

In addition, students also must satisfy the following requirements:

• attain at least a C (2.00) cumulative grade-point average for all courses taken at the University; and
• have at least third-semester classification .

READ SENATE POLICY 37-30: ENTRANCE TO AND CHANGES IN MAJOR PROGRAMS OF STUDY

Degree Requirements

For the Bachelor of Science degree in Economics, a minimum of 120 credits is required:

6 of the 45 credits for General Education are included in the Requirements for the Major. This includes 6 credits of General Education GQ courses.

Per Senate Policy 83-80.5, the college dean or campus chancellor and program faculty may require up to 24 credits of course work in the major to be taken at the location or in the college or program where the degree is earned. For more information, check the Suggested Academic Plan for your intended program.

Requirements for the Major

A grade of C or better is required for all courses in the major. To graduate, a student enrolled in the major must earn at least a C grade in each course designated by the major as a C-required course, as specified by Senate Policy 82-44 .

General Education

Connecting career and curiosity, the General Education curriculum provides the opportunity for students to acquire transferable skills necessary to be successful in the future and to thrive while living in interconnected contexts. General Education aids students in developing intellectual curiosity, a strengthened ability to think, and a deeper sense of aesthetic appreciation. These are requirements for all baccalaureate students and are often partially incorporated into the requirements of a program. For additional information, see the General Education Requirements section of the Bulletin and consult your academic adviser.

Foundations (grade of C or better is required and Inter-Domain courses do not meet this requirement.)

• Quantification (GQ): 6 credits
• Writing and Speaking (GWS): 9 credits

Breadth in the Knowledge Domains (Inter-Domain courses do not meet this requirement.)

• Arts (GA): 3 credits
• Health and Wellness (GHW): 3 credits
• Humanities (GH): 3 credits
• Social and Behavioral Sciences (GS): 3 credits
• Natural Sciences (GN): 3 credits

Integrative Studies

• Inter-Domain Courses (Inter-Domain): 6 credits

Exploration

• GN, may be completed with Inter-Domain courses: 3 credits
• GA, GH, GN, GS, Inter-Domain courses. This may include 3 credits of World Language course work beyond the 12th credit level or the requirements for the student’s degree program, whichever is higher : 6 credits

University Degree Requirements

First year engagement.

All students enrolled in a college or the Division of Undergraduate Studies at University Park, and the World Campus are required to take 1 to 3 credits of the First-Year Seminar, as specified by their college First-Year Engagement Plan.

Other Penn State colleges and campuses may require the First-Year Seminar; colleges and campuses that do not require a First-Year Seminar provide students with a first-year engagement experience.

First-year baccalaureate students entering Penn State should consult their academic adviser for these requirements.

Cultures Requirement

6 credits are required and may satisfy other requirements

• United States Cultures: 3 credits
• International Cultures: 3 credits

Writing Across the Curriculum

3 credits required from the college of graduation and likely prescribed as part of major requirements.

Total Minimum Credits

A minimum of 120 degree credits must be earned for a baccalaureate degree. The requirements for some programs may exceed 120 credits. Students should consult with their college or department adviser for information on specific credit requirements.

Quality of Work

Candidates must complete the degree requirements for their major and earn at least a 2.00 grade-point average for all courses completed within their degree program.

Limitations on Source and Time for Credit Acquisition

The college dean or campus chancellor and program faculty may require up to 24 credits of course work in the major to be taken at the location or in the college or program where the degree is earned. Credit used toward degree programs may need to be earned from a particular source or within time constraints (see Senate Policy 83-80 ). For more information, check the Suggested Academic Plan for your intended program.

Integrated B.S. in Economics and M.A. in Economics

Requirements for the Integrated B.S. in Economics and M.A. in Economics can be found in the Graduate Bulletin .

Program Learning Objectives

• Applied Economics Fields: Students will be knowledgeable about at least two applied fields in economics.
• Economic Analysis: Students will be able to apply the tools of economic analysis, and most notably the basic supply and demand model, to various issues and phenomena, dealing with individuals, firms, markets, and public policy.
• Economics Writing: Students will be able to write a paper in economics that includes economic analysis and that is coherent, cogent, and grammatically correct.
• Intermediate Theory: Students will be familiar with intermediate microeconomic theory and intermediate macroeconomic theory.
• Quantitative Economic Analysis: Students will be able to carry out quantitative analyses of economic data.

Academic Advising

The objectives of the university's academic advising program are to help advisees identify and achieve their academic goals, to promote their intellectual discovery, and to encourage students to take advantage of both in-and out-of class educational opportunities in order that they become self-directed learners and decision makers.

Both advisers and advisees share responsibility for making the advising relationship succeed. By encouraging their advisees to become engaged in their education, to meet their educational goals, and to develop the habit of learning, advisers assume a significant educational role. The advisee's unit of enrollment will provide each advisee with a primary academic adviser, the information needed to plan the chosen program of study, and referrals to other specialized resources.

READ SENATE POLICY 32-00: ADVISING POLICY

University Park

Liberal Arts Academic Advising 814-865-2545 Use the Liberal Arts Meet the Academic Advisers web page to see the contact information for the specific adviser(s) of this program

World Campus

Undergraduate Academic Advising 301 Outreach Building University Park, PA 16802 814-863-3283 [email protected]

Suggested Academic Plan

The suggested academic plan(s) listed on this page are the plan(s) that are in effect during the 2023-24 academic year. To access previous years' suggested academic plans, please visit the archive to view the appropriate Undergraduate Bulletin edition ( Note: the archive only contains suggested academic plans beginning with the 2018-19 edition of the Undergraduate Bulletin ).

Economics, B.S. at University Park Campus

The course series listed below provides only one of the many possible ways to move through this curriculum. The University may make changes in policies, procedures, educational offerings, and requirements at any time. This plan should be used in conjunction with your degree audit (accessible in LionPATH as either an Academic Requirements or What If report). Please consult with a Penn State academic adviser on a regular basis to develop and refine an academic plan that is appropriate for you.

Course requires a grade of C or better for the major

Course requires a grade of C or better for General Education

Course is an Entrance to Major requirement

Course satisfies General Education and degree requirement

University Requirements and General Education Notes:

US and IL are abbreviations used to designate courses that satisfy Cultural Diversity Requirements (United States and International Cultures).

W, M, X, and Y are the suffixes at the end of a course number used to designate courses that satisfy University Writing Across the Curriculum requirement.

General Education includes Foundations (GWS and GQ), Knowledge Domains (GHW, GN, GA, GH, GS) and Integrative Studies (Inter-domain) requirements. N or Q (Honors) is the suffix at the end of a course number used to help identify an Inter-domain course, but the inter-domain attribute is used to fill audit requirements. Foundations courses (GWS and GQ) require a grade of 'C' or better.

All incoming Schreyer Honors College first-year students at University Park will take ENGL 137H / CAS 137H in the fall semester and ENGL 138T / CAS 138T in the spring semester. These courses carry the GWS designation and satisfy a portion of that General Education requirement. If the student’s program prescribes GWS these courses will replace both ENGL 15 / ENGL 30H and CAS 100A / CAS 100B / CAS 100C . Each course is 3 credits.

Economics, B.S. at Commonwealth Campuses

Career paths.

The field of Economics provides many opportunities (in both the public and private sector), as well as opportunities for graduate studies.

Employers know that a degree in Economics provides students with a logical way of making decisions for individuals and firms, as well as understanding the creation of policies and their consequences. Recent graduates have started private sector careers in consulting, sales, banking, and financial advising, as well as public sector careers with the FDA and DOJ. An economist will help a firm or public agency make important decisions using quantitative cost/benefit analysis, and will be able to understand how new policies will affect the firm.

Opportunities for Graduate Studies

Many schools offer graduate (both M.A. and Ph.D.) programs in Economics. In addition, with the logical thought processes learned and appropriate math background, the Economics degree will prepare students for an M.B.A. or J.D. If you are considering graduate studies in Economics, the B.S. is recommended with extra math preparation, particularly calculus and linear algebra.

MORE INFORMATION ABOUT MATH PREPARATION FOR GRADUATE STUDIES

Professional Resources

• Economics Association

DEPARTMENT OF ECONOMICS 403 Kern Graduate Building University Park, PA 16802 814-865-1457 [email protected]

https://econ.la.psu.edu

https://www.worldcampus.psu.edu/degrees-and-certificates/penn-state-online-economics-bachelor-of-science-degree

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Ph.D. Job Placements

The EEFE program was approved as new Penn State degree granting program in 2017. The degree builds on prior degrees in Agricultural Environmental and Regional Economics (AEREC) offered by the College of Agricultural Sciences, and Energy and Mining Engineering (EME Energy Policy Option) offered by the College of Earth and Mineral Sciences. The table below lists Ph.D. job placements for recent AEREC and EME (Energy Policy Option) students.

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