economics phd umich

Incoming ph.D. students

We are excited to announce the students who have accepted their offers to join us for a ph.d. at michigan economics.

Olga Aristova

Pleasanton, California

Johar Gabriel Arrieta Vidal

Alexander Boca

Paul Brimble

Bangkok, Thailand

Ruth Cesar Heymann

Sant Cugat del Vallès, Spain

Shanghai, China

Wuhan, China

Catherine Cox

Ellicott City, Maryland

Kate Fairley

Victoria, Canada

Kianna Freeman

Kingston, Jamaica

Mariany Fuentes

San Jose, Costa Rica

Mingxuan Ge

Hangzhou, China

Kelcie Gerson

Aspen, Colorado

Seung ah Ha

Seoul, South Korea

Woodbury, Minnesota

Kenny Hofmeister

Chicago, Illinois

Jeongwon Jang

Imryoung Jeong

Asmi Khushi

Patna/Bhopal, India

Metro Manila, Philippines

Jana Kontar

Aley, Lebanon

Kathryn Langemeier

Houston, Texas

Andrei Laskievic

São Paulo, Brazil

Magdalena Martin

Santiago, Chile

Bruno Nunes

Carangola , Brazil

Nikita Sharma

Noida, India

Richard Shi

Shijiazhuang, China

Roman Solntsev

Moscow, Russia

Camila Thanos

Boston, Massachusetts

Athiwat Thoopthong

Alessandro tomarchio.

Catania, Italy

Dmitrii Urentsov

Henry Young

Evanston, Illinois

Public Policy and Economics

Degree requirements for the public policy & economics phd program.

** Note that some requirements may change after the time of publication. Similarly, it is likely that not all courses described below are offered each semester. It is the responsibility of the student to verify information about degree requirements with the directors of graduate studies in public policy and economics.

Economics Department Course Requirements

Economic Theory

Students must take core sequences in micro- economic theory (Economics 601, 602, 603, 604) and in macro-economic theory(Economics 605 & 607). Preliminary exams are given in August in microeconomics and macroeconomics. Failing a preliminary exam for a second time is grounds for dismissal. Satisfactory performance in these examinations is a prerequisite for continuing inthe program. 

Mathematics and Statistics

Students must demonstrate competence in mathematics, statistics, and econometrics by successful completion of Economics 600,671, and 672, or by passing written equivalency examinations. Students who do not place out of the math and statistics coursesmust receive at least a B in each of these courses.

Areas of Specialization

Students must complete two courses in an area of specialization and successfully pass a written preliminary examination in the area of specialization. Note that doctoral students in the Economics Department who are not part of the joint program must complete courses in two different areas of specialization (generally four courses total).

  Public Policy Specific Course Requirements:

(Rackham requires all doctoral students to maintain a 3.0 GPA overall to be in good standing. In addition to this, joint doctoral students must obtain a B- or better in each required public policy course. Students should consult their disciplinary department for any similar requirements in the department required courses.)

• 1 course in policy institutions (3 credits) – typically students take a 600 level Political Science course, but students may petition the PhD Program Director to allow another course to count toward this requirement.
• 1 course in methods (3 credits) – typically students take Survey Methods 600, Econ 675 or Public Policy 821 but students may petition the PhD Program Director to allow another course to count toward this requirement. Note that students who take the Econometrics field sequence will automatically meet this requirement.
• 2 courses in a substantive policy area (6 credits total) – at least one of these courses must be taken outside the student’s home social science department, and both courses must be approved by the PhD program director. 
• Policy seminar (4 semesters, 1 credit per semester) – Public Policy 810 – This seminar meets bi-weekly and students are required to enroll in this course during their first two years in the PhD program.

Third-Year Economics Paper & Third-Year Public Policy Paper

Both the economics department and the Joint Public Policy and Economics program have a third-year paper requirement. Students typically submit the same paper to satisfy both requirements. To fulfill this requirement, students must complete an originalresearch paper on a policy-related economics topic, which must be approved by at least two faculty members (one in the Economics Department and one in the Ford School). This paper may be related to papers written for doctoral courses and may (but does not need to) lead into the dissertation proposal. The goal is a paper that would eventually be suitable for publication.

Annual Student Evaluation

Reviews for students in the joint Public Policy and Economics program will follow the general timeline and structure of reviews for doctoral students in Economics, with an important difference being that reviews for joint students will incorporate feedback from advisors in both the Ford School and the Economics department, and the feedback will be provided jointly by the director of graduate studies in Economics and the director of doctoral programs at the Ford School. 

Each student’s progress will be reviewed annually, typically at the end of the academic year. The process is as follows:

• Students will be asked to identify an advisor in both the Ford School and the Department of Economics, and then complete a self-evaluation form that outlines the progress they have made over the course of the year.
• For students in years 1 and 2, the student’s Ford School advisor will be asked to complete a short form discussing the student’s performance.  For students in year 3 and beyond, both the student’s Ford School advisor and his or her Department of Economics advisor will be asked to complete this form.
• The DGS in the Ford School and the DGS in the Department of Economics will then meet to discuss the student’s progress, incorporating information from the student’s self-report, the advisor reports, the student’s transcript and other relevant information (e.g., completion of required exams). 
• The DGS’s will then prepare a joint letter to provide feedback to the student.

Note: A student must be enrolled the semester during which a preliminary examination is taken. Registration may be under the 990, Candidacy Preparation, course number or another number in Economics or Public Policy. According to the RackhamGraduate School, IF the student HAS been enrolled on a full-time basis in the preceding fall and winter terms, he/she is notrequired to enroll for the term (summer half-term) in which the prelim is taken.

More information regarding the economics department requirements can be found in documents titles ‘ Department Regulations Affecting the PhD Program ’ and ‘ Economics Welcome Packet Letter ’ distributed by the Economics department.

Prospectus Defense

A student’s prospectus defense typically occurs in the 4th or 5th year, although the timing of prospectus varies somewhat with the student’s discipline; joint students should follow the norms of their disciplinary department. During this time, a doctoral candidate lays out his/her intended dissertation research to their committee members. The prospectus defense is done in person with as many members present as possible. If necessary, some members are able to call-in. All committee members must approve the prospectus defense.

Prospectus committee members are assumed to be the same as a student’s final dissertation committee (please refer to Rackham’s guidelines for the composition rules). We request prospectus committees to consist of at least four faculty members, three of whom are members of the Graduate Faculty, and two of whom are from the doctoral candidate’s home program. Furthermore, each joint doctoral program committee must have one committee member from each department (Ford School and Economics).

Typical Plan for Public Policy & Economics Students

Fall  

Mathematics

Micro Theory I

Micro Theory III

Macro Theory I

Econometric Analysis I

Policy Seminar

Micro Theory II

Micro Theory IV

Macro Theory II

Econometric Analysis II

PRELIM EXAMS

Micro & Macro Theory

GSI Training Course

Economics Field Course #1 *

   ECON 675

Applied Econometrics

   PUBPOL 810

Economics Field Course #2 *

Substantive Policy Course #1

Policy Institutions Requirement:

  POLISCI 622 (or other approved course)

American Political Institutions

Third Year Paper Course:

   ECON 695

Intro to Economic Research I

Substantive Policy Course #2

   ECON 696

Intro to Economic Research II

Summer  

Advance to Candidacy

PUBPOL 995 or ECON 995

Dissertation Candidate

* These courses will depend on the area of specialization chosen by the student and may vary somewhat from year to year.

Have any questions?

Kathryn Cardenas

Phd and fellowship coordinator, student & academic services, student & academic services.

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Economics Courses

University of michigan.

The University of Michigan's commitment to diversity is a central part of our mission to ensure the excellence of graduate education.

Zach Y. Brown Assistant Professor of Economics, University of Michigan

• Why Do Index Funds Have Market Power? Quantifying Frictions in the Index Fund Market

with Mark Egan, Jihye Jeon, Chuqing Jin, & Alex Wu

• Information and Disparities in Health Care Quality: Evidence from GP Choice in England

with Chris Hansman, Jordan Keener, & Andre Veiga Work in Progress

• Broadband Internet Access and Health Outcomes: Patient and Provider Responses in Medicare

with Jessica Van Parys Accepted, International Journal of Industrial Organization

• Collusion and Coercion with Naive Rivals

with Alexander MacKay

• Endogenous Information and Simplifying Insurance Choice

with Jihye Jeon Accepted, Econometrica

• Abstract: Insurance contracts are complicated and individuals may choose how much time and effort to spend understanding potential out-of-pocket costs and comparing plans. Building on the rational inattention literature, we develop a parsimonious demand model in which individuals choose how much to research difficult to observe characteristics, affecting the accuracy of their beliefs and subsequent choices. The model predicts that individuals acquire more information when the stakes are higher. Using prescription drug insurance data, we exploit within-individual variation in the stakes and show that the model provides an explanation for behavior that is inconsistent with standard demand models. Based on our framework, we estimate an empirical model of insurance demand and find that the marginal cost of acquiring information is higher for older enrollees and those with less prior experience with Medicare Part D plans. Counterfactual analysis sheds light on the welfare losses due to information frictions and how policy makers can restrict plan choice to simplify decision-making and raise welfare. Policies that decrease cost sharing also reduce equilibrium information costs. Overall, we argue that endogenous information acquisition has important implications for counterfactuals and welfare, in addition to supply-side incentives.
• Market Structure and Extortion: Evidence from 50,000 Extortion Payments

with Eduardo Montero, Carlos Schmidt-Padilla, & Maria Micaela Sviatschi Accepted, Review of Economic Studies Media: The Guardian , ProMarket , El Diario de Hoy

• An Empirical Model of Price Transparency and Markups in Health Care

Revise & resubmit, Journal of Political Economy

• Abstract: It is usually difficult for patients to compare out-of-pocket prices for medical services. What are the implications for prices and welfare? In order to understand the effects of price transparency, this paper develops an empirical model of demand and supply for medical imaging services that incorporates patients' limited information about prices. Estimation exploits the introduction of a price transparency website that informed a subset of patients. Counterfactual simulations imply a 22 percent reduction in prices if all patients had full information. However, the results also shed light on the barriers to widespread adoption of price transparency tools.
• Hospital Facility Prices Declined As A Result Of Oregon’s Hospital Payment Cap

with Roslyn Murray, Sarah Miller, Edward Norton, & Andrew Ryan Health Affairs , March 2024, 43(3): 424-432.

• Competition in Pricing Algorithms

with Alexander MacKay American Economic Journal: Microeconomics , May 2023, 15(2): 109-56. Media: Brookings , NPR , Financial Times , HBS , New Statesman , Fortune

• Product Proliferation under Rational Inattention: Application to Health Insurance

with Jihye Jeon AEA Papers and Proceedings , May 2021, 111: 554-59.

• Equilibrium Effects of Health Care Price Information

Review of Economics and Statistics , October 2019, 101(4): 699–712. Media: The Conversation , Washington Post , Wall Street Journal

• Abstract: This paper examines whether information frictions in the market for medical procedures lead to higher prices and price dispersion in equilibrium. I use detailed data on medical imaging visits to examine the introduction of a state-run website providing information about out-of-pocket prices for a subset of procedures. Unlike other price transparency tools, the website could be used by all privately insured individuals in the state, potentially generating both demand- and supply-side effects. Exploiting variation across procedures available on the website as well as the timing of the introduction, estimates imply a 3 percent reduction in spending for visits with information available on the website. This is due in part to a shift to lower cost providers, especially for patients paying the highest proportion of costs. Furthermore, supply-side effects play a significant role— there are lower negotiated prices in the long-run, benefiting all insured individuals even if they do not use the website. Supply-side effects reduce price dispersion and are especially relevant when medical providers operate in concentrated markets. The supply-side effects of price transparency are important given that high prices are thought to be the primary cause of high private health care spending in the US.

W2019, W2020, W2021, F2022, W2023, F2023, W2024

W2019, W2020, W2021, W2023, W2024

• December 2014
• MCMC estimation of random-coefficient logit demand
• MCMC estimation of GMM w/ autodiff
• MCMC estimation of demand with consumer uncertainty

Development economists at Michigan seek to advance knowledge on reducing poverty and improving human well-being in developing countries. Our faculty and Ph.D. students come from multiple departments and schools across the university. We meet weekly at the Economic Development Seminar (EDS) . We are proud of our alumni who bring their development expertise to academic, governmental, and non-profit institutions worldwide.

On May 17-18, 2024, we are holding the  MDev Conference  here in Ann Arbor. Paper submission deadline is Monday, Mar 25, 2024. 

Dual Degree in Law and Economics (JD+PhD)

The dual program in Law and Economics enables a small number of highly qualified students to pursue simultaneous work in both disciplines. The program is designed to enable students to substantially reduce the time usually required to earn the two degrees separately and to encourage meaningful integration of work in both fields. All requirements for both the JD and the PhD in Economics can be completed in six to seven years; some students may require a greater amount of time. Timely completion of the program will ordinarily require at least two summers in residence.

Students in the dual program receive superb training in legal and economic analysis, as well as informed insight into some of the most complex and difficult problems confronting government leaders, business executives, and scholars today. Graduates of the program are particularly well prepared for university teaching and research in both fields. Recent graduates of the program have also chosen to work as practicing economists, either in government or in private consulting firms. Those graduates who choose to practice law are uniquely well prepared to handle cases in administrative, antitrust, corporate, securities, commercial, labor, and environmental law.

The program provides a framework of basic requirements for each degree to encourage competence in both disciplines. Apart from these requirements, the program is flexible and permits students to shape individual courses of study in accordance with their particular interests and goals. Each student’s program is reviewed and approved by a dual committee composed of both Law and Economics faculty.

Information contained herein is valid as of 2/26/19 and is subject to change.

Contact the applicable admissions office or dual degree resource for more information.

Requirements

Applicants should have exceptional undergraduate records that include substantial work in Economics, as well as courses in statistics and mathematics, including calculus and linear algebra.

Applicants must gain separate and independent admission to both the graduate program in Economics in the Horace H. Rackham School of Graduate Studies and to the Law School. Applicants should indicate their interest in the dual program on both the Law and Graduate School applications. If you are enrolled in a graduate program in another school or department at the University, the Law School will accept a valid GRE , GMAT , or MCAT score in lieu of an LSAT score; otherwise, a valid LSAT score is required. *

Students entering the Law School must complete the required first-year law curriculum. Students must take one elective course of three or four credit hours during their second semester. All students must complete the following before graduation: at least one international or comparative law course of two or more credit hours, at least one upper-level course with a rigorous writing component, one statutory or regulatory course of three or more credit hours, one course in professional responsibility of two or more credit hours, and two credit hours of experiential learning. Separate courses must be taken to fulfill the upper-level course with a rigorous writing component, the professional responsibility course, and the experiential learning course Students admitted to the Law School must earn a minimum of 83 credits toward the JD , at least 71 of which must be earned in Law School courses.

Twelve (12) credit hours from Economics courses may be counted toward requirements for the JD . If you are admitted to the Rackham School of Graduate Studies and choose to pursue the JD / PHD program, you must notify the Law School’s Office of Student Records and Office of Student Life.

• Two terms of economic theory courses. One term of mathematics and two terms of econometrics, or the equivalent level of competence as demonstrated by passing written examinations.
• Four courses in specialized fields in Economics, two of which must form a sequence in a major field.
• One course concentrating on advanced theoretical or empirical techniques. This course may be counted as one of the four required field courses or, alternately in special circumstances and with the approval of the student’s adviser, may be taken in the Law School.
• Successful completion of three written preliminary examinations; one in microeconomics, one in macroeconomics, and one in the student’s major field.
• Advanced research paper, to be satisfied in concurrence with the Law School seminar requirement. Ordinarily, this paper will form the basis of the student’s dissertation.
• Doctoral dissertation; a research project on a significant topic of the student’s choosing. A dissertation proposal must be approved by a faculty committee, which also hears the student’s oral defense at the completion of the dissertation.

Students must satisfy the degree requirements of each school, and should consult with advisers in each school for the precise graduation requirements for each degree and for information about course offerings. Law School courses are not offered in the summer term. Students will not receive credit toward the JD for non-law coursework taken prior to matriculation at the Law School. Students should consult with the adviser at the companion school concerning credit toward the PhD for Law course work.

Tuition will be assessed at either the Law School or the Graduate School rate, whichever is higher, when courses toward both degrees are taken in one term. The combined degree is not open to those who have already earned one of the two degrees.

At the beginning of their final year of study in the combined program, students should consult with their Rackham academic adviser and the Law School’s Office of Student Records regarding forms that need to be completed prior to graduation. Also at this time, students should submit a Dual/Joint Degree Election Form ( www.rackham.umich.edu/current-students/policies/academic-records/dual-j… ) for approval from both the Law School and the Department of Economics.

Any JD who enrolls concurrently in another degree program will be awarded the JD degree after completing all of the requirements for the dual, joint, or combined degrees. (As a practical matter, this means that the student will receive the JD degree either after or at the same time as they receive the degree(s) in the other program(s).) This policy will not affect the student’s class year for purposes of the Law School’s commencement ceremony or alumni events, and it will not apply if a student discontinues the other degree program(s). A law student who believes that they will experience some hardship as a result of this policy may petition the Associate Dean for Academic Programming for an exception.

JD courses traditionally have a later grading deadline than other degree programs. On some occasions, this later JD grading deadline may affect a student in their final term if another degree program desires all of the student’s grades prior to the JD grading deadline.

Contact Information

Law School Admissions Office University of Michigan Law School Jeffries Hall, Suite 2200 701 S. State St. Ann Arbor, MI   48109-1215

Phone: 734.764.0537 Email: [email protected]  

Office of Student Life (dual degree programs) University of Michigan Law School 316 Hutchins Hall 625 S. State St. Ann Arbor, MI   48109-1215

Phone: 734.764.0516 Email: [email protected]

Office of Student Records University of Michigan Law School 300 Hutchins Hall  625 S. State Street  Ann Arbor, MI   48109-1215

Phone: 734.763.6499 Email: [email protected]

Department of Economics Doctoral Admissions Department of Economics University of Michigan 250 Lorch Hall 611 Tappan Ave. Ann Arbor, MI  48109-1220

Phone: 734.764.2360 Email: [email protected] Website: lsa.umich.edu/econ

Rackham Graduate School Admissions  0120 Rackham Building 915 E. Washington St. Ann Arbor, MI  48109-1070

Phone: 734.764.8129 Email: [email protected] Website: rackham.umich.edu/admissions/applying

Also of Interest

Economics (ECON)

ECON 5015     Introduction to Econometrics     3 Credit Hours

The theory and practice of the statistical analysis of economic relationships. Topics covered include the construction and estimation of econometric models and tests of economic theories, emphasizing the use of multiple linear regression.Students cannot receive credit for ECON415 and ECON 4015 or ECON 5015 . (YR).

Prerequisite(s): ( MATH 113 or MATH 115 ) and ECON 305

Restriction(s): Can enroll if Class is Graduate Can enroll if Major is Public Policy, Economics

ECON 5021     Economics of the Labor Sector     3 Credit Hours

Theoretical analysis and empirical studies of the nature and operation of labor markets. Includes theories of wage determination and income distribution, the nature of unemployment, the impact of collective bargaining on the economy, the extent and economic effects of discrimination, and the nature and effects of government wage and employment policies. Students cannot receive credit for ECON 421 and ECON 4021 or ECON 5021 .

Prerequisite(s): ECON 302

Restriction(s): Can enroll if Class is Graduate

ECON 503     Economics and Public Policy     3 Credit Hours

In this course students will review basic neoclassical economic theory and learn to apply it to the analysis of public policy issues. Economics offers important insights into the behavior of businesses, consumers, and government entities. We will review key economic concepts, applying each to an array of public policy questions. Next we'll evaluate resource allocation via the market system and consider how public policy might address situations where the market fails to produce desirable results. Lastly, we'll learn about the basic tools economists use to evaluate pubic policies.

Prerequisite(s): ( ECON 201 and ECON 202 ) or PPOL 500

Restriction(s): Can enroll if Class is Post-baccalaureate Cert only or Post-baccalaureate NCFD or Graduate Cannot enroll if College is Engineering and Computer Science

ECON 5065     History of Economic Thought     3 Credit Hours

Course examines the evolution of economic thought and theory from the early origins to the present, focusing on the major contributions to economics, especially from Adam Smith onward, and assesses the current condition of economic analysis. Students cannot receive credit for ECON 465 and ECON 4065 or ECON 5065 .

ECON 537     Behavioral Public Policy     3 Credit Hours

This course teaches you to apply the insights from behavioral economics and psychology to public policy design. Empirically-based behavioral science offers policy makers the opportunity to decrease the impact of psychological limitations of lazy or boundedly rational individuals. In this course we consider various public policies that are informed by behavioral science research in the areas of retirement savings, household borrowing, health care, energy use and choice of nutrition. (AY, S).

Prerequisite(s): ECON 201 and ECON 202

Restriction(s): Cannot enroll if Class is Can enroll if Level is Rackham or Graduate Cannot enroll if Program is

ECON 542     Economic Development     3 Credit Hours

A survey of economic problems currently affecting third world countries and the various policy options available to them. Topics covered will include agrarian vs. industrial growth, and monetary and fiscal policies, planning problems, foreign exchange and debt problems. Students cannot receive credit for ECON 342 and ECON442 or ECON 542 (OC).

ECON 582     Regional Economics     3 Credit Hours

Course explores methods of economics evaluation of regions in terms of intra- and inter-regional activity. Regions may smaller than a nation, be a collection of nations, or be composed of portions of more than one nation. Theoretical topics include the theories of (1) the location of the firm, (2) spatial demand, (3) agglomeration economies, and (4) input-output analysis. Regional development policy is discussed using Michigan and Ontario as subjects. Students cannot receive credit for both ECON382 and ECON482.

Prerequisite(s): ECON 201 or ECON 202 or ECON 2001

ECON 583     Urban Economics     3 Credit Hours

The economics of the city and the introduction of space in economic analysis; the determination of land use patterns, the location of firms and industries, and an urban area's growth; economic analysis and policy issues concerning urban poverty, housing, transportation, the local public sector, and other urban problems. Students cannot receive credit for ECON 381 and ECON 483 or ECON 583 .

ECON 597     Economics Seminar     3 Credit Hours

An advanced study in selected areas of economics. Topics vary; see the current Schedule of Classes for topics and prerequisites. This course is distinguished from its 400 level counterpart by the requirement of additional readings and research. (OC).

ECON 599     Directed Research     1 to 3 Credit Hours

Independent study under the direction of a faculty supervision in advanced topic areas. Normally must be elected on the "pass/fail" option, in which case it does not count toward credit hour requirement or concentration. Special consideration for the A through E grading option must be approved by members of the Economics discipline. In all cases students must have faculty supervision's permission to register. This course is distinguished from its 400 level counterpart by the requirement of additional readings and research. (F, W, S).

*An asterisk denotes that a course may be taken concurrently.

Frequency of Offering

The following abbreviations are used to denote the frequency of offering: (F) fall term; (W) winter term; (S) summer term; (F, W) fall and winter terms; (YR) once a year; (AY) alternating years; (OC) offered occasionally

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Michigan Minds Podcast: Michigan’s Economic Recovery and Forecast for the New Year

• Morgan Sherburne

In this episode of Michigan Minds, Gabriel Ehrlich, PhD , Director of U-M’s Research Seminar in Quantitative Economics (RSQE) , discusses the economic recovery in Michigan as well as the economic forecasts for the US and Michigan economies. Ehrlich’s research focuses primarily on macro and regional economics, and economic forecasting.

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Department of Economics

Aeasp 2024 scholar haley locke.

Haley Locke , a graduating senior at Sonoma State University, is on track to receive her bachelor's degree in Economics in spring 2024. Currently, she serves as an undergraduate research assistant at Sonoma State, collaborating with professors on various research projects spanning topics such as Hate Crimes, Elections, and the Wine industry. Through this experience, Haley has developed a genuine passion for research and academia, inspiring her to pursue further studies at the graduate level. Her academic interests revolve around development, technology, and equity, reflecting her commitment to understanding and addressing societal challenges. In addition, Haley also is the as the department's Economic Peer Tutor, providing support to her fellow students. Outside of academia, she enjoys pottery, walking her dogs, staying active at the gym, and exploring new recipes in the kitchen.

Economics Student Receives CGB PhD International Research Award

The Center for Global Business (CGB) proudly announces the recipient of this year's CIBE PhD International Research Award: Chan Kim , a fifth-year student in the Economics PhD program at the University of Maryland College Park. Kim's groundbreaking proposal delves into the intricate dynamics of international trade, industrial organization, innovation, and productivity growth, addressing critical questions at the heart of U.S. businesses' global competitiveness.

“U.S. businesses’ global competitiveness and overall economic growth are closely tied to their ability to innovate,” says Kim. “Critical to this process are Research and Development (R&D), though they serve different purposes. Research fosters new scientific knowledge, while development applies this knowledge to improve or invent products.”

Kim's research focuses on the evolving landscape of R&D investments within U.S. firms and its implications for long-term innovation capacity and competitiveness. He adeptly navigates the complex interplay between research, which generates broad scientific knowledge, and development, which applies this knowledge to create or enhance products.

The core of Kim's proposal lies in his meticulous analysis of the declining research intensity among U.S. businesses in recent decades, juxtaposed against the surge in development activities. Drawing on comprehensive data and sophisticated modeling techniques, Kim sheds light on the underlying factors driving this trend and its ramifications for both short-term profitability and long-term innovation potential.

“One of Kim's seminal contributions lies in his examination of the nexus between globalization and firms’ innovation strategies,” points out his mentor, Associate Professor of Economics, John Shea. “His research illuminates how intensified global competition compels firms to recalibrate their R&D investments, favoring development efforts over research pursuits.”

Moreover, Kim’s interdisciplinary approach synthesizes insights from various fields such as international trade theory, industrial organization, and innovation economics. This comprehensive approach enables him to develop a robust analytical framework. By clarifying the factors influencing firms' decisions regarding research and development investments, Kim’s model offers valuable insights for crafting effective innovation and trade policies that support the long-term competitiveness of U.S. businesses on the global stage.

The Center for Global Business at the Smith School of Business provides funding for PhD research that aligns with the mission of the CIBE grant, to contribute to the internationalization of business disciplines and/or the global competitiveness of U.S. businesses.

The PhD Award is supported in part by CIBE, a Title VI grant from the U.S. Department of Education.

• Center for Global Business

Media Contact

Greg Muraski Media Relations Manager 301-405-5283   301-892-0973 Mobile [email protected]  

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The work of Michigan Ross faculty influences the world’s largest companies and global economies. Every day we’re creating real-world solutions for the most pressing challenges in our world. 

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Follow a monthly poll co-created by Financial Times and Michigan Ross for insights on how American voters perceive key financial and economic issues in the lead-up to the 2024 U.S. presidential election.

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Prepare to Lead in Thought and Practice.

The Michigan Ross PhD program prepares you for scholarly positions at top global universities. Generate impactful research as you seek new solutions to the most complex issues in business. 

Immerse yourself in one of seven doctoral areas of study based on your research interests and academic career goals.

    Accounting

    Business and Economics

    Finance

    Management and Organizations

    Marketing

    Strategy

    Technology and Operations

In the past five years, 100% of Ross PhD graduates were offered positions around the world and 75% received tenure-track assistant professor positions. 

Over a five-year period, you will acquire the advanced knowledge and research skills you need to achieve academic and professional success. 

Learn more about our admissions criteria and application requirements.

Experience Our Collaborative Community

Benefit from diverse perspectives as you engage with colleagues within your area of study and across disciplines. With support at every level, our resources and connections help shape your professional and personal experience. 

Study With World-Class Faculty

Regarded as a colleague from day one, you will learn from and collaborate with faculty who are renowned and respected researchers. Our faculty mentors seek to understand where you want to take your work and provide the guidance and resources to help you succeed.

Financial Assistance

All students admitted to our doctoral program receive full funding - including tuition waiver, health insurance, and a generous stipend package.