how many years to get a phd in economics

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. 

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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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Doctoral Program

The Ph.D. program is a full time program leading to a Doctoral Degree in Economics.  Students specialize in various fields within Economics by enrolling in field courses and attending field specific lunches and seminars.  Students gain economic breadth by taking additional distribution courses outside of their selected fields of interest.

General requirements

Students  are required to complete 1 quarter of teaching experience. Teaching experience includes teaching assistantships within the Economics department or another department .

University's residency requirement

135 units of full-tuition residency are required for PhD students. After that, a student should have completed all course work and must request Terminal Graduate Registration (TGR) status.

Department degree requirements and student checklist

1. core course requirement.

Required: Core Microeconomics (202-203-204) Core Macroeconomics (210-211-212) Econometrics (270-271-272).  The Business School graduate microeconomics class series may be substituted for the Econ Micro Core.  Students wishing to waive out of any of the first year core, based on previous coverage of at least 90% of the material,  must submit a waiver request to the DGS at least two weeks prior to the start of the quarter.  A separate waiver request must be submitted for each course you are requesting to waive.  The waiver request must include a transcript and a syllabus from the prior course(s) taken.  

2.  Field Requirements

Required:  Two of the Following Fields Chosen as Major Fields (click on link for specific field requirements).  Field sequences must be passed with an overall grade average of B or better.  Individual courses require a letter grade of B- or better to pass unless otherwise noted.

Research fields and field requirements :

• Behavioral & Experimental
• Development Economics
• Econometric Methods with Causal Inference
• Econometrics
• Economic History
• Environmental, Resource and Energy Economics
• Industrial Organization
• International Trade & Finance
• Labor Economics
• Market Design
• Microeconomic Theory
• Macroeconomics
• Political Economy
• Public Economics

3.  Distribution

Required:  Four other graduate-level courses must be completed. One of these must be from the area of economic history (unless that field has already been selected above). These courses must be distributed in such a way that at least two fields not selected above are represented.  Distribution courses must be passed with a grade of B or better.

4.  Field Seminars/Workshops

Required:  Three quarters of two different field seminars or six quarters of the same field seminar from the list below.   

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The Ph.D. Program in the Department of Economics at Harvard is addressed to students of high promise who wish to prepare themselves in teaching and research in academia or for responsible positions in government, research organizations, or business enterprises. Students are expected to devote themselves full-time to their programs of study.

The program prepares students for productive and stimulating careers as economists. Courses and seminars offered by the department foster an intellectually active and stimulating environment. Each week, the department sponsors more than 15 different seminars on such topics as environmental economics, economic growth and development, monetary and fiscal policy, international economics, industrial organization, law and economics, behavioral economics, labor economics, and economic history. Top scholars from both domestic and international communities are often invited speakers at the seminars.  The Harvard community outside of the department functions as a strong and diverse resource. Students in the department are free to pursue research interests with scholars throughout the University. Faculty of the Harvard Law School, Kennedy School of Government, and Harvard Business School, for example, are available to students for consultation, instruction, and research guidance. As a member of the Harvard community, students in the department can register for courses in the various schools and have access to the enormous library resources available through the University. There are over 90 separate library units at Harvard, with the total collections of books and pamphlets numbering over 13 million.  Both the department and the wider University draw some of the brightest students from around the world, which makes for a student body that is culturally diverse and likely unequaled in the range of intellectual interests of its members. These factors combine to add an important dimension to the educational process. Students are able to learn from one another, collaborate on research projects and publications, and form bonds that are not broken by distance once the degree is completed and professional responsibilities lead them in different directions.

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Ph.D. Program

Make an impact: The intellectual rigor from researchers associated with Yale Economics drives innovations in domestic and international policy.

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Yale's Department of Economics offers a challenging and rigorous academic program, a distinguished and accessible faculty, and a friendly, supportive environment for study.

Our core teaching faculty of 66 is supported by a diverse group of visiting professors and graduate student teaching assistants, making it one of the largest economics departments in the United States with one of the highest teacher/student ratios for the 130 Ph.D. students in residence.

The Department of Economics also has close ties with professional schools in related fields, such as the Yale School of Management, the Yale School of the Environment, and the Yale School of Public Health, where many of its secondary faculty members teach. It also works with affiliated centers, including the Cowles Foundation for Research in Economics, the Economic Growth Center, and the newly created Tobin Center for Economic Policy . 

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Our Program

Yale's economics faculty embraces a broad range of research and teaching interests. Courses and seminars span a wide spectrum of economics, from dynamic structural models to field experiments. Our students apply econometric and data analytic methods to a variety of subjects in macroeconomics, labor economics and finance. Our courses examine critical economic policy issues, including antitrust and environmental regulation. Our focus is global, spanning the United States and developed economies to the developing nations of Latin America, Asia and Africa. Whatever your interest, our faculty is ready to guide you through a wide offering of more than a hundred regular courses, seminars or workshops, combined with individually tailored reading and research courses to best prepare you for your Ph.D. research and dissertation.

Our faculty is eclectic in methodologies and views of economics. There is no Yale dogma or school. You will acquire a critical perspective on the full range of approaches to macroeconomics. You will be well trained in neoclassical theory and in the theory of public choice, externalities and market failures. You will master the skills of sophisticated modern econometrics and understand pitfalls in its applications. You will gain respect for the power of contemporary mathematical models and also for history and for the insights of the great economists of the past.  

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Why Earn a PhD in Economics?

A PhD prepares you to do independent research at the frontier of Economics

How to Prepare for a PhD in Economics

Important points when preparing for Graduate school in Economics

Writing Personal Statements

Research Experience

Learn how research is a component of preparing for Graduate school

Getting Useful Letters of Recommendation

PhD Student Funding

In this section, we are going to focus on being a competitive applicant for top Economics PhD programs.  We want our very best undergraduates to have a chance to get into these highly competitive programs right after completing an undergraduate degree.  Preparing for graduate school in Economics can often be a confusing process for students.  The goal of this webpage is to illuminate this process and clarify what is required to be a competitive applicant.  While we emphasize the importance of taking difficult mathematics courses, in general, as you choose less selective Economics PhD programs, you can take fewer upper division mathematics classes and still be a competitive applicant. 

Of course, a PhD in Economics is not for everyone and we want you to pursue a career path that is right for YOU.  For great resources about careers, please see UCSD Career Services Center .

There are also many PhD and MA programs outside of economics (in finance, business, public policy, data analytics, business analytics, data science, etc.) that you may be more interested in and be well qualified for.  Please speak with our Vice Chair for Undergraduate Education and other economics faculty about any higher education program you are interested in and get their advice about what it will take for you to be to be a competitive applicant.

First Steps

A key requirement for earning a PhD is that your dissertation provides new knowledge that moves out the frontier of the profession

Why earn a PhD in Economics?

The key thing you need to know is that PhD programs in economics are highly mathematical

It is a great idea to talk to someone who was just in your shoes not too long ago!

Talking to a UCSD grad

Preparing your application.

Conducting Research with a professor or graduate student will help prepare you for graduate school and can help you gain useful letters of recommendation

Letters from faculty members who know you well are the most useful letters for gaining admission to top 30 PhD and MA programs

While the prompts vary across schools, generally a personal statement will ask you to describe your research interests, qualifications, and career goals.

More Resources

Even though most graduate programs come with funding, it is potentially a good idea to apply for outside funding as well

Read the common questions about Economics Phd programs

Advice and more information from some external sources

Helpful Links

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Phd in economics: requirements, salary, jobs, & career growth, what is phd in economics.

A PhD in Economics is a doctorate-level degree that focuses on advanced training and research in the field of economics. It is a research-oriented degree that prepares students to contribute to the field through original, in-depth research and analysis.

The program typically involves taking advanced coursework in economics, completing a research project, and writing a dissertation that presents original findings. The coursework and research topics covered in a PhD in Economics program can include microeconomics, macroeconomics, econometrics, game theory, economic history, and various specialized areas within the field.

The PhD in Economics is ideal for individuals who are interested in pursuing careers in academia, government, international organizations, or research-focused organizations. Graduates of the program are equipped with the skills and knowledge necessary to conduct independent research, analyze data, and develop innovative solutions to complex economic problems.

How much money do people make with a PhD in Economics?

The earning potential of individuals with a PhD in Economics can vary widely based on a number of factors such as their experience, location, and type of employer. On average, economists with a PhD can expect to earn a higher salary than those with a master’s degree or a bachelor’s degree in the field.

According to data from the US Bureau of Labor Statistics (BLS), the median annual salary for economists was $105,020 in May 2020. However, salaries can range from less than $60,000 for entry-level positions to over $150,000 for experienced economists in leadership positions.

In academia, assistant professors with a PhD in Economics can expect to earn a starting salary in the range of $70,000 to $90,000, while full professors can earn well over $100,000. In the government sector, economists with a PhD can earn salaries that range from $70,000 to $120,000 or more, depending on their level of experience and the type of agency they work for.

In the private sector, salaries for economists with a PhD can be even higher, particularly for those working in consulting, finance, or other high-paying industries. However, the earning potential in the private sector is highly dependent on the specific job and the location, with salaries in certain cities, such as New York or San Francisco, being significantly higher than those in other parts of the country.

It’s important to note that salaries can vary greatly based on factors such as the individual’s level of experience, the type of employer, and the location.

What is expected job growth with PhD in Economics?

The job growth for individuals with a PhD in Economics is expected to be relatively strong in the coming years. According to the US Bureau of Labor Statistics (BLS), employment of economists is projected to grow 6% from 2019 to 2029, which is about as fast as the average for all occupations.

Demand for economists is expected to remain strong, particularly in the government and private sectors, as organizations continue to seek individuals with expertise in analyzing data, developing economic models, and creating solutions to complex economic problems.

In the government sector, there is expected to be continued demand for economists who can analyze economic data and provide research and policy analysis to inform government decision-making.

In the private sector, economists with PhDs are expected to be in high demand in consulting firms, financial institutions, and other organizations that require advanced economic analysis and problem-solving skills.

In academia, opportunities for economists with PhDs are expected to remain strong, as universities continue to seek highly trained individuals to conduct research and teach the next generation of economists.

Overall, the job outlook for individuals with a PhD in Economics is positive, and they can expect to have a range of opportunities across various sectors and industries. However, as with any job market, there may be fluctuations in demand based on economic conditions and other factors.

What can you do with a PhD in Economics?

A PhD in Economics provides individuals with advanced training and research skills in the field of economics, preparing them for a variety of careers in academia, government, international organizations, the private sector, and non-profit organizations. Some of the most common career paths for individuals with a PhD in Economics include:

1. Academia: Many individuals with a PhD in Economics pursue careers in academia as university professors, where they conduct research, teach courses, and mentor students.

2. Government: Economists with a PhD can find careers in the government sector, working in agencies such as the Federal Reserve, the Department of Labor, or the Bureau of Economic Analysis.

3. International organizations: PhD economists can also find careers in international organizations such as the World Bank, the International Monetary Fund, or the United Nations.

4. Private sector: Economists with PhDs can also find careers in the private sector, working for consulting firms, financial institutions, or other businesses that require advanced economic analysis.

5. Non-profit organizations: Economists with a PhD can also find careers in non-profit organizations, where they can use their expertise to address social and economic issues.

6. Research organizations: Economists with a PhD can also find careers in research organizations, where they can conduct independent research and publish their findings. 

What are the requirements for a PhD in Economics?

The requirements for a PhD in Economics can vary slightly depending on the specific program and university, but in general, most PhD programs in Economics require the following:

1. A bachelor’s or master’s degree in economics or a related field: Most PhD programs in Economics require applicants to have a bachelor’s or master’s degree in economics or a related field, such as mathematics, statistics, or finance.

2. Coursework: PhD programs in Economics typically require students to complete advanced coursework in economics, including microeconomics, macroeconomics, econometrics, game theory, and other specialized areas of the field.

3. Examinations: Many PhD programs in Economics require students to pass written and oral comprehensive exams to demonstrate their mastery of the field.

4. Research project: PhD students in Economics are typically required to complete a research project, either independently or as part of a team, and present their findings in a written thesis or dissertation.

5. Teaching experience: Many PhD programs in Economics also require students to complete teaching experience, either as a teaching assistant in an undergraduate course or as the instructor of their own course.

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How long does it take to get a phd in economics.

The time it takes to complete a PhD in Economics can vary, but most programs take between 4 to 7 years on average. The exact duration of the program depends on a number of factors, including the specific program requirements, the student’s course load, and the amount of time they can dedicate to their studies.

Typically, the first 2 to 3 years of a PhD in Economics program are spent completing coursework and exams, while the remaining years are dedicated to research and writing a thesis or dissertation. During this time, PhD students are also typically required to complete teaching or research assistantships to gain practical experience in their field.

In some programs, students may be able to complete their PhD more quickly by taking a heavier course load, while in others, students may need to take more time to complete their research and writing.

It’s important to keep in mind that the length of a PhD program can vary significantly depending on the specific program and the student’s individual circumstances.

Some students may complete their PhD in as little as 4 years, while others may take 7 years or more. Additionally, some programs may allow students to take a leave of absence or pause their studies for personal or professional reasons, which can also impact the overall duration of the program.

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Do you need a masters in economics to get a phd in economics.

Not all PhD programs in Economics require a master’s degree, but many do. A master’s degree in economics can provide students with a strong foundation in the field and help them prepare for the more advanced coursework and research required in a PhD program.

However, some PhD programs in Economics accept applicants with only a bachelor’s degree, particularly if they have strong academic performance and relevant work experience.

In some cases, PhD programs in Economics may offer a combined master’s and PhD program, allowing students to complete both degrees in a shorter amount of time. This can be a good option for students who are interested in pursuing a career in academia or research and want to obtain both degrees as quickly as possible.

What are the Best PhD in Economics Degree programs?

Harvard university, massachusetts institute of technology (mit), stanford university, university of chicago, princeton university, columbia university, new york university (nyu), university of california, berkeley (uc berkeley), university of pennsylvania, yale university, leave a comment cancel reply.

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• Frequently Asked Questions

Please consult the following GSAS pages for additional information:

• https://gsas.columbia.edu/degree-programs/admissions
• https://gsas.columbia.edu/degree-programs/phd-programs/economics

In this FAQ:

Application Process

Admissions requirements, program and curriculum.

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When will the application be available?

Application dates are available on the  Graduate School of Arts and Sciences Admissions Deadlines page .

Can I schedule a meeting with a faculty member or an administrator to discuss the program?

Due to the high number of applicants and inquiries the department receives, individual meetings with faculty or administrators are not possible. Questions not answered on the department website should be sent to  [email protected] .

If I have questions about the admissions process, should I contact the Economics department?

For all application-related questions, please contact the Graduate School of Arts and Sciences Admissions Department at [email protected] . For any questions that are department-specific, please send your inquiry to [email protected] .

If I submit a CV, can the Economics department evaluate my chance of being admitted?

We are unable to review your CV to determine the likelihood of admission. To be considered for admission, you must complete the full application. Please do not email your CV to the department, as it will not be reviewed.

What should I do to prepare myself for the PhD program in Economics?

Please see the American Economic Association’s website,  Preparing for graduate school: What you need to do to get in.

How many applications do you receive each year and how many applicants do you admit?

The program receives approximately 1000 applications each year. Each year, the department admits about 20 to 25 applicants.

Can I find out what the average GPA or GRE score is for admitted students?

The department does not release information about applicants or admitted students, including GPA and GRE scores. As the department receives hundreds of applications, admitted students are generally very qualified. Anyone interested in the program is encouraged to apply.

When should I plan to take the GRE and/or TOEFL/IELTS exams in order to meet the deadline?

All tests should be taken at least six weeks before the application deadline to ensure timely receipt by the admissions office.

Once I take the GRE exam, how do I report my scores to Columbia?

Educational Testing Service (ETS), who manage the GRE and TOEFL tests, and IELTS are required to report their official test scores directly to the University. We recommend that you also include a photocopy of your score report, if it is available, at the time you complete your application. Please be reminded however, these scores are not considered official unless they are reported directly to the University by ETS or IELTS. For more information see the  Graduate School of Arts and Sciences Admissions Supporting Material page .

I am interested in the Business Economics program, how do I apply?

When completing the online application, please select the option: I am interested in both tracks in order to be considered for the Business-Economics track. Note: your decision to apply to both tracks does not affect your chances of being admitted to the regular economics track.

Can I apply to both the Economics and Business Economics track programs?

Yes, when completing the application, please select the option: I am interested in both tracks to be considered for the Economics and Business-Economics track. Note: your decision to apply to both tracks does not affect your chances of being admitted to the regular economics track.

If admitted to the Business Economics program, can I transfer to the Economics program?

No, barring exceptional circumstances, there is no transfer from the Business Economics track to the Economics track or vice versa once admitted into the program.

Can my recommenders send their letters of recommendation directly to the Economics Department?

No, letters of recommendation must be submitted through the GSAS online application system. Letters of recommendation may not be sent via email, nor may paper letters be sent via postal mail. All letters must be uploaded by the recommenders directly to the application system.

You may submit your online application even if your letters of recommendation have not yet been submitted. Once the letters are received, your application will be updated.

Can I request an application fee waiver?

All application waiver requests must be submitted through the online application. Please see the application waiver request page for more information: https://gsas.columbia.edu/degree-programs/admissions/application-fee-waivers

How do I check on my application status?

Application Tracking instructions are found on the  Graduate School of Arts and Sciences FAQ page .

When can I expect to be notified regarding an admissions decision?

Notices of acceptance are sent out by March 15th; candidates have until 11:59 pm EST on April 15th to accept or reject the offer of admission via the online application.

If I am not admitted, can I reapply the following year? Can I receive specific feedback about my application?

If you are reapplying for the next academic year you must submit a new application. As noted on their  Admissions Supporting Material page , the Graduate School of Arts and Sciences allows reapplicants to reuse letters from an application in the prior year. Since the department receives hundreds of applications, it cannot provide specific feedback to applicants.

I am trying to decide whether or not to apply to Columbia. Would you be able to give me an idea of the minimum standards for admission?

Most successful applicants to our Ph.D. program score above the 90th percentile on the quantitative section of the GREs.  Students are advised they should have completed undergraduate linear algebra, probability and statistics, advanced calculus and real analysis to be prepared for classes in the Economics Ph.D. program.  Superb reference letters and/or excellent performance as an undergraduate are considered in the admission process as well.  Foreign students must also meet the minimum required TOEFL/IELTS (see below).  Official department visits, including meeting with faculty members, are arranged  after  students have been admitted. However, you are more than welcome to arrange a tour of the Columbia campus through the Visitor’s Center,  http://www.columbia.edu/node/6060.html

What are the admission requirements?

For detailed information regarding admission requirements, please consult the following webpage: https://gsas.columbia.edu/degree-programs/phd-programs/economics

Do you have a list of recommended courses that students take prior to applying to the PhD program?

Yes, recommendations include college-level coursework in probability, statistics, calculus, linear algebra, analysis and/or optimization. Some background in microeconomics, macroeconomics and econometrics is preferable.

Is there a minimum or maximum number of pages required for the writing sample?

There is no minimum or maximum number of pages required. The writing sample would normally be a research paper on which the applicant is an author, such as a chapter from an undergraduate or master’s thesis or other research with a recommended length of up to 30 pages.

Can I submit more than the required three letters of recommendation?

Yes, Columbia GSAS accepts up to four letters of recommendation.

I have a Master’s degree from another university, can I test out of any of the first-year PhD coursework?

Normally, first-year PhD students with advanced degrees take the standard course sequence. If they choose, students can pass out of the first year Micro, Macro and/or Econometrics course sequence by successfully completing the corresponding certifying exam.

If I take the GRE exam multiple times, how does the Department evaluate those scores?

When the GRE has been taken multiple times, the highest score achieved on each section is used in evaluating your application.

When completing your application, you will be asked to enter a complete set of scores from only one exam date, and to scan and upload a copy of the score report. However, you will also be able to scan and upload the results of any other exam date, so that all scores will be available to the admissions committee. Additionally, the official ETS score report will reflect scores from all the test dates you have elected to report to GSAS.

May I substitute some other exam such as the GMAT or LSAT for the GRE?

You must take the GRE. There can be no substitutions or exceptions.

Is there a minimum score required for the TOEFL/IELTS?

The Graduate School of Arts and Sciences requires a minimum score of 600 on the paper-based test, 100 on the internet-based test, or a 7.5 for the IELTS.

Under what circumstances would the Graduate School waive the language proficiency requirement?

The Graduate School of Arts and Sciences does not waive the English proficiency requirement. For information on how applicants may fulfill the requirement, please click  here .

Do you offer a part-time Ph.D. program?

There is no part-time study available to Ph.D. applicants to the Department of Economics.

What are the program requirements for the PhD in Economics?

For detailed information about program requirements, please consult the following webpage: https://econ.columbia.edu/phd/prospective-students/current-degree-requirements-for-the-ph-d/

What are the program requirements for the PhD in Business Economics?

For detailed information about the Business Economics program requirements, please consult the following webpage: https://www8.gsb.columbia.edu/programs/doctoral-program/academics/business-economics

Typically, how long does it take to complete the program?

In recent years, most of our PhD students have completed the program in 6 years.

Can PhD students in the Economics program take courses in other departments at Columbia?

Yes, in lieu of one of the fields designated by the Department, students may petition the DGS to take an individually-designed field. An individually-designed field consists of 3 courses, not all of which need to be offered by the Department. For more information, please see link here .

Can PhD students in the Economics program take courses at other universities while at Columbia?

Yes, as part of the Inter-College Doctoral Consortium (IUDC), Columbia PhD students can enroll in courses at participating universities. For more information, see link here .

Is Columbia’s PhD in Economics program a STEM program?

Yes.  As a STEM-designated program, F-1 visa holders within the PhD program are eligible to apply for the  F-1 STEM OPT Extension

Does the Economics Department require first-year PhD students to take Certifying exams?

First-year PhD students may have to take end-of-year certifying examinations in microeconomics, macroeconomics, and econometrics. These examinations are taken in the summer after the first year. They are graded pass or fail. If students receive a grade of B+ or better in both of the one-semester courses that make up the first-year sequence in microeconomics, macroeconomics, or econometrics, they are exempted from the requirement to take the certification exam in that field.

Does the Economics Department require second-year PhD students to take Field Exams?

In addition to courses, second-year students may have to pass a field exam in each field they have selected. (Each student must select two fields). Field exams are given in the summer after the second year. If students receive a grade of B+ or better in all of the courses taken to satisfy the requirements of a second-year field, they are exempted from the requirement to take the field exam in that field.

Are PhD students required to work as Teaching Fellows?

Yes, as part of their pedagogical training, all PhD students must work as Teaching Fellows for at least 2 semesters in order to obtain their degree. As part of the Columbia multi-year funding package, students generally work in years 2-4 as Teaching Fellows or Research Fellows unless they obtain funding from an external source.

What type of research opportunities are available to PhD students?

Research opportunities are available in the Economics Department, in the greater Columbia community and outside the University. Students begin research as early as in the summer after their first year. The Program for Economic Research (PER) supports many PhD student research initiatives. For more information, see link here .  Depending on their areas of interest, PhD students collaborate with Economics faculty and/or faculty in other schools such as the Business School, School of International and Public Affairs and Mailman School of Public Health, among others. The Graduate School of Arts and Sciences supports student research as well. For more information, see link .

Where do PhD students present their research?

PhD students have several venues to present research both in and out of the department. Starting in their second year, students present in at least one colloquium during the year. For more information about colloquia, please see the event schedule here . Starting in their third year, students present research in a colloquium once per semester. Additionally, students present research in workshops, lunches and breakfast meetings. Outside the department, students present their research in a variety of venues including the Business School, The Institute for Social and Economic Research Policy, and conferences around the world.

Where can I find information about the academic calendar?

The Office of the University Registrar maintains the academic calendar. For more information, see link here .

Once PhD students graduate, where do they get jobs?

For recent placement information, please see link .

Is there an Economics Department PhD student club?

Yes, the Association for Graduate Economics Students (AGES) hosts regular events and workshops.

How can I find out about events happening on campus?

The Economics Department maintains an electronic announcement page and posts updates on the Economics PhD bulletin board in the International Affairs Building. PER distributes updates regarding speaker events, lectures and workshops. Campus-wide events for the graduate community are listed here .

How can I find out about events happening in the community?

For upcoming events, students should consult the Arts Initiative link .

Is there a guarantee that on-campus housing will be available until I complete my PhD degree?

For students in good academic standing who make adequate progress toward their degree, guaranteed on-campus housing is available for 5 years with a possible 2-year extension. For more information, see here .

Are on-campus housing units furnished?

Yes, for more information about accommodations reserved for PhD students in the Graduate School of Arts and Sciences program, please see link . (Select the school specific tab and choose Graduate School of Arts and Sciences.)

Does Columbia assist students who would prefer to rent off-campus apartments?

Yes, please contact Columbia’s Off-Campus Housing Assistance Office

How can I find out more information about what is covered by Columbia’s health benefits for PhD students?

For detailed information about health benefits, please consult Columbia Health’s webpage here .

What are the fitness options at Columbia?

PhD students in the Economics program can work out at Dodge Fitness Center . During the semester, there is no membership fee required.

What sort of safety measures are in place to protect the Columbia community?

New York has a lower than average crime rate and ranks consistently among the safest large cities in the country. For more information, see the following link . Within New York City, Morningside Heights is consistently named one of the safest precincts. Furthermore, the  Department of Public Safety  ensures the security of Columbia’s campus and its students.

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PhD Economics admissions FAQs

LSE has a well-established infrastructure for admitting and funding PhD students in the Department of Economics. We have a Chair and committee for both PhD Admissions and PhD Recruitment. In addition we have a dedicated professional staff at School and Department level dealing with funding and admissions. Applications are processed centrally through the  Graduate Admissions Office .

There is a strict application deadline for the PhD Economics 2024 entry. All applicants are advised to read the  MRes/PhD Economics 2024 prospectus page .

Admissions FAQs (2024 entry)

Below you will find various FAQS categorised by application , post application , funding and programme queries.

Application queries

1. when is the application deadline for the phd economics .

For direct entry to the PhD Economics programme there is an application deadline of  14 December 2023 . Complete applications must be received by the LSE Graduate Admissions Office by 23.59hrs (UK time) on 14 December 2023. We will not be able to accept any materials that arrive after the deadline; only complete applications supplied with all required supporting information by 14 December 2023 will be considered.

2. How should I apply?

Applications must be submitted via  LSE’s Online Application System  and are processed through LSE’s central  Graduate Admissions Office . All applicants are advised to read the  Department of Economics 2024 prospectus page  (for entry in 2024).

3. When should I apply?

The deadline to submit an application is 23.59hrs (UK time) 14 December 2023. Candidates are encouraged to apply early rather than wait until very close to the deadline to avoid unforeseen circumstances (eg. technical issues) preventing timely submission. Applicants who are considering re-taking the GRE test to improve their scores should do so in time to submit their new scores by the application deadline.  The Department cannot accept new GRE scores after the application deadline. 

4. What are the entry requirements? 

Entry requirements for the PhD Economics are stated on the departmental prospectus page . See also the LSE Minimum Entry Requirements including information for international students .

For details about the programme itself, see the Department of Economics Research Programmes  and the prospectus pages. See also details of the PhD Economics coursework requirements .

5. What should my application include?

Your application should include:

• An application form
• Application fee
• Statement of academic purpose
• Transcripts
• Two academic references
• Research statement (see guidance on the Research statement below)
• A separate list of all the courses you are currently taking and/or will be taking (if you are currently undertaking a degree programme)
• English language test scores (if applicable - see English language requirements )

For a full explanation of what you need to supply, please see Graduate Admissions advice on  How to Apply and guide to Supporting Documents .

6. How can I get help with the application process?

Questions about the mechanics of the application process should be submitted to LSE’s central Graduate Admissions Office . See how you can Contact the Graduate Admissions Office . A full range of Graduate Admissions guidance and information is available via their Graduate Knowledge Base  page. If you do not find the answer to your question there, please follow the “ I Need Help ” link which allows you to contact the Graduate Admissions Office by email or Live Chat.  

7. Do I need to submit a written sample? 

No, applicants to the PhD Economics are not required to submit a sample of their written work. We will, however, require a research statement.

8. Do I need to submit a Statement of academic purpose as well as a Research statement? 

Yes, the Statement of academic purpose is a school-wide requirement as it helps our academic selectors understand your personal motivation for undertaking the programme and gives you the opportunity to explain your academic strengths, relevant interests and tell us what you can bring to the programme. This Statement can be brief (ideally not exceeding 1000 words). 

9. What should my Research statement contain? 

Your Research statement should be submitted in place of the Outline research proposal, along with your application form and other required supporting documents, via the LSE online application system.

Please answer the following questions clearly and concisely. Max 200 words per question.

• Why do you want to do research in economics?
• Can you explain how your studies and experience make you suitable to do research in economics?
• Which aspect of the PhD do you think you will like the most? Which will you dislike the most? Why?
• Tell us about your favourite paper in economics. What do you like about it? How would you improve it?
• Write a comment for a general audience on ONE of the following topics (i) Is inequality good for growth?   (ii) Do immigrants take the jobs of native workers?   (iii) Is CEO compensation excessive? (iv) Is universal minimum income a good idea? (v) Overall, has central banks' move to inflation targeting been a success? (vi) Is culture an important determinant of differences in income per capita across countries? (vii) Markets function well as information is aggregated efficiently through prices. (viii) Elections are effective at disciplining politicians who do not have the public interest as their main goal.

10. How can I demonstrate research potential?

If you have served as research assistant for an economist please ask that person to write a letter focussing on your research skills and describe your experience – reference point 2 (above) of the research statement.

If not, please list any evidence you think would be valuable. Examples include but are not restricted to: experience working autonomously under stress without any guidance, demonstration of creativity in any form, experience of writing original research.

11. Should my application include a diversity statement?

LSE is committed to building a diverse, equitable and truly inclusive university, a vision the Department of Economics fully supports. We believe strongly in expanding the diversity of our graduate student body and invite you to share your experiences, values, perspectives, and/or activities that shape you as a PhD candidate and align with these commitments as part of your statement of academic purpose.

Should a candidate submit a diversity statement as part of their statement of academic purpose the information provided will help the selection committee to contextualise the application; however, it will not play a part in assessing a candidate’s suitability for the MREs/PhD Economics programme. 

12. Can I contact faculty in advance, with a request to be my PhD supervisor? 

This is neither necessary nor desirable. Applicants must submit a complete application by the published deadline. There is a formal review process whereby the Department will decide if we can offer candidates a place on the programme. The allocation of a supervisor is done after completion of Year 1 of the programme, based on each student's area of interest and availability of faculty. There is no presumption that a student will be allocated the supervisor of their own choice, or any member of faculty they may have contacted before/during the application process.

13. Do I need to submit a GRE (Graduate Record Examination) score? 

All applicants must have taken the GRE General Test  and must include the test score with their application. For details of how to take the test, see the ETS website. The GRE has three sections: Verbal, Quantitative and Analytical. High GRE scores, especially in the Quantitative section, will further strengthen a good application. Most successful PhD Economics applicants have scores of 166 or more in the quantitative section. Applicants must enter their full and percentile GRE scores for all three sections. The test scores should be less than five years old on 1 October 2024.

14. Can I request an exemption on the GRE score requirement? 

GRE is a compulsory requirement, irrespective of the MRes/PhD Economics applicant’s academic background. Normally, no GRE waiver is possible.  However, applicants faced with exceptional and  unavoidable  circumstances may submit a waiver request by email, with relevant supporting information, to the Department’s admissions team .  The Selection Committee will consider such requests on a case-by-case basis and the GRE waiver cannot be guaranteed. NB. Please note that booking a late GRE test date will normally not be considered sufficient grounds for a waiver.

15. Can I submit an application solely for the MRes?

No, the MRes is an integral stage of the PhD Economics programme, and may only be taken by students who are committed to completing a PhD, subject to satisfying progression requirements.

16. Can I transfer from a PhD programme at another University?  

Applicants who commence/are already undertaking a PhD programme in another institution will not normally be allowed to transfer directly into a later stage of our PhD Economics. Such applicants would be expected to submit a full application to the programme like any other candidate and, if offered a place, would be required to undertake all parts of the course from the start of the programme, i.e. they would be registered as MRes students and undertake both years of the taught MRes programme along with the rest of the cohort. Exemption from parts of the PhD Economics, on grounds of having studied certain topics at a previous institution, will not normally be permitted.

17. Who should I contact for further information and advice?

If you have a query about our postgraduate Economics programmes that is not addressed above, or on the departmental website, contact the  Department of Economics postgraduate admissions team .  Please note that we are not able to reply to questions that constitute a request for an informal assessment. Applicants who have questions about their eligibility should consult the   Department of Economics prospectus page .

All enquiries about the application process must be addressed to LSE’s central  Graduate Admissions Office .

Post application queries

18. do you hold an open day.

As part of our recruitment process successful offer holders are invited to attend an Open Day where they will be able to meet and network with faculty and current MRes/PhD Economics students.

Applicants are, of course, very welcome to visit LSE on their own and attend a guided or self-guided tour – see more details about a visit to LSE . 

LSE also has many  public events  which are often open to all, although some do require a ticket.  There are also LSE Virtual Open Day events - for more information and to register your interest please visit the LSE Webpage .

19. What happens to my application after I click submit?

During this phase, the Graduate Admissions team conducts checks to ensure you have included all of the required documents with your application. Please note, the Department will not receive your application until you have supplied all of the required documents, which must be submitted by the application deadline. 

Once the deadline passes and the Department receives all complete applications the Selection Committee begins its review of all applications, until they arrive at a final shortlist of candidates. This process usually takes around 4 weeks at the end of which the Committee holds its final meeting to decide on who to make an offer to.

NB: The Department of Economics does not hold interviews as part of its selection process. 

After the Selection Committee meeting, all applicants who are offered a place on the PhD Economics programme are reviewed by the Funding committee for consideration of all funding at our disposal. The Department cannot guarantee that all of those offered places to study will also be offered funding. 

From early March onward, formal offers will be sent out by the LSE Graduate Admissions Office after carrying out its standard checks. The Department will also contact candidates to whom we wish to offer a place on the PhD Economics. At that stage, each candidate will be advised if they have been awarded funding, waitlisted for funding or have not been allocated funding at all. 

Candidates who are unsuccessful will be informed of the final decision by the Graduate Admissions Office. We typically expect this decision to be communicated to you around the beginning of March. 

20. When will I get my decision on my PhD Economics?

Admissions decisions will be made by a committee in the Department of Economics. Applicants will be informed of the decision by early March 2024. If your application is successful, we expect you to let us know by 15 April 2024 whether you are planning to enrol.

21. What are my chances of admission?

The admission committee reviews all applications and offers a place to those candidates with sufficient research potential.

Applicants who have questions about their eligibility for applying to research programmes at LSE should consult the  LSE Minimum Entry Requirements   and the  programme-specific  page for the programme to which they intend to apply. Also see  additional information for international students . Meeting the minimum requirements is not a guarantee of admission. In fact, most successful candidates exceed one or more of the requirements.

We regret that we cannot provide any further information or comment on an individual's chances of admission prior to receiving a complete formal application. The committee will make their decision based on all the information submitted with the application, which should be submitted online to the central  Graduate Admissions Office .

Funding queries

22. is there a separate process to apply for phd economics funding.

There is no separate process to apply for any funding which is administered and awarded by LSE - as a matter of normal procedure, all applicants who are offered a place on our PhD Economics would be considered for all types of funding at our disposal and for which they are eligible, on the basis of the information submitted in their application - see  Costs and financial aid  

As competition for places is very high and competition for funding is even more intense, we may not be able to offer funding to all PhD Economics students, hence applicants are advised to actively explore all sources of potential funding – see information in the School's  Financial Support Office  pages  (please check regularly for 2024 information updates) . 

23. Will there be funding options available once I've started the PhD Economics

Offer holders are expected to only take up a place on the PhD Economics if they have funds in place to finish their degree; please be aware that it's very unlikely there will be any funding available from the Department of Economics to fund PhD Economics students after they have started their degree. While there might be limited sources of funding at later stages of the PhD, e.g. from teaching or research assistant positions, these cannot be guaranteed nor can specific amounts (if any) be estimated at this stage. 

24. Will my financial status be a factor in the selection process?

Admissions decisions are made on the basis of academic merit alone, without any reference to an applicant’s financial situation. Applicants who are able to fund themselves or succeed in securing a scholarship or sponsorship from any source will be considered for entry to the programme in exactly the same way as applicants who have no funding in place. The same procedures and standards apply to all applicants competing for entry.

Programme queries

25. What can you tell me about the structure of the programme?

See the prospectus page for the PhD Economics programme – section “ Programme structure and courses” . The PhD Economics programme is grounded in two years of coursework through the MRes component followed by three to four years of research through the PhD.

Also see the LSE A cademic Calendar  for all Research Students at LSE, where clicking on “Programme Regulations” and “Research Course Guides” will give you detailed insight into the topics covered in each programme of study. 

26. Is the PhD Economics offered on a part-time basis?

The PhD Economics is only offered on a full-time basis.

27. How does the programme differ from the US and European programmes?

The programme has the standard structure of top US programmes with compulsory coursework in the first two years and research thereafter.  As in most US programmes, students take core courses in year one and field courses in year two.

28. Can I progress to the PhD Economics via an MSc programme at LSE?

There will no longer be automatic and direct progression from any LSE programme into our MRes/PhD Economics from the 2024/5 academic cycle.  Students registered in the LSE Department of Economics during the 2023/4 academic year, who wish to be considered for 2024 entry to the MRes/PhD Economics would need to submit the standard full application package by the deadline for 2024 entry (14 December 2023).  All applicants - including LSE students - will be given equal consideration, as part of the MRes/PhD Economics' standard process for admission as well as funding.  

Graduate Admissions

Who earned PhDs in economics in 2020?

Subscribe to the hutchins roundup and newsletter, david wessel david wessel director - the hutchins center on fiscal and monetary policy , senior fellow - economic studies @davidmwessel.

December 28, 2021

The latest data from the National Science Foundation’s Survey of Earned Doctorates for the 1216 PhDs in economics awarded in 2020 find that men outnumbered women by nearly 2-to-1, 60% of the doctorates went to foreigners with temporary visas, and 24 of the 493 recipients (about 5%) who were U.S. citizens or permanent residents were Black.

A few gleanings from the data:

Of 1216 PhDs awarded in economics in 2020, 797 (66%) went to men and 419 (34%) to women.  For comparison, in physics, 21% of the doctorates were awarded to women; in computer and information sciences, also 21%; in math and statistics, 29%; in political science, 39%; in chemistry, also 39%; in business management and administration, 42%; in sociology, 59%; in psychology, 72%.

Data on the race/ethnicity of PhDs are available only for those who are U.S. citizens or permanent residents. Here’s the breakdown for 2020 and 2019:

The number of PhDs awarded to Black U.S. citizens or permanent residents has risen slightly in the past few years, from an average of 16 in 2013 through 2017 to an average of 25 in the following three years.

Among the 1216 recipients of PhDs in economics in 2020:

• About half were married when they got their degree. Men and women were equally likely to be married.
• The median age at completion was 31, the same for women and men.
• About 12% took five years or less from graduate school entry to completion, 68% took more than five years and up to 10 years, and 20% took more than 10 years. The median was 7.5 years; the median for men was a few months shorter than the median for women.
• Almost 80% had no debt from graduate school; half of the remainder owed less than $20,000. About 85% had no debt from undergrad. (These data don’t distinguish between those who did their undergraduate work abroad and those who did it in the U.S.)

To read the Hutchins Center report on gender and racial diversity among PhD economists employed by the federal government in 2020, visit this page .

The data in this post are from the Restricted-Use Data Analysis System of the Survey of Earned Doctorates, a survey of 55,000 individuals who earned doctorates in the prior year. The Hutchins Center report uses data from the American Economic Association’s Committee on the Status of Minority Groups in the Economics Profession, which are drawn from the Integrated Postsecondary Education Data System, and differ slightly from the data in the Survey of Earned Doctorates.

The Brookings Institution is financed through the support of a diverse array of foundations, corporations, governments, individuals, as well as an endowment. A list of donors can be found in our annual reports published online here . The findings, interpretations, and conclusions in this report are solely those of its author(s) and are not influenced by any donation.

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How Long Does It Take to Get a Ph.D. Degree?

Earning a Ph.D. from a U.S. grad school typically requires nearly six years, federal statistics show.

How Long It Takes to Get a Ph.D. Degree

Caiaimage | Tom Merton | Getty Images

A Ph.D. is most appropriate for someone who is a "lifelong learner."

Students who have excelled within a specific academic discipline and who have a strong interest in that field may choose to pursue a Ph.D. degree. However, Ph.D. degree-holders urge prospective students to think carefully about whether they truly want or need a doctoral degree, since Ph.D. programs last for multiple years.

According to the Survey of Earned Doctorates, a census of recent research doctorate recipients who earned their degree from U.S. institutions, the median amount of time it took individuals who received their doctorates in 2017 to complete their program was 5.8 years. However, there are many types of programs that typically take longer than six years to complete, such as humanities and arts doctorates, where the median time for individuals to earn their degree was 7.1 years, according to the survey.

Some Ph.D. candidates begin doctoral programs after they have already obtained master's degrees, which means the time spent in grad school is a combination of the time spent pursuing a master's and the years invested in a doctorate. In order to receive a Ph.D. degree, a student must produce and successfully defend an original academic dissertation, which must be approved by a dissertation committtee. Writing and defending a dissertation is so difficult that many Ph.D. students drop out of their Ph.D. programs having done most of the work necessary for degree without completing the dissertation component. These Ph.D. program dropouts often use the phrase " all but dissertation " or the abbreviation "ABD" on their resumes.

According to a comprehensive study of Ph.D. completion rates published by The Council of Graduate Schools in 2008, only 56.6% of people who begin Ph.D. programs earn Ph.D. degrees.

Ian Curtis, a founding partner with H&C Education, an educational and admissions consulting firm, who is pursuing a Ph.D. degree in French at Yale University , says there are several steps involved in the process of obtaining a Ph.D. Students typically need to fulfill course requirements and pass comprehensive exams, Curtis warns. "Once these obligations have been completed, how long it takes you to write your dissertation depends on who you are, how you work, what field you're in and what other responsibilities you have in life," he wrote in an email. Though some Ph.D. students can write a dissertation in a single year, that is rare, and the dissertation writing process may last for several years, Curtis says.

Curtis adds that the level of support a Ph.D. student receives from an academic advisor or faculty mentor can be a key factor in determining the length of time it takes to complete a Ph.D. program. "Before you decide to enroll at a specific program, you’ll want to meet your future advisor," Curtis advises. "Also, reach out to his or her current and former students to get a sense of what he or she is like to work with."

Curtis also notes that if there is a gap between the amount of time it takes to complete a Ph.D. and the amount of time a student's funding lasts, this can slow down the Ph.D. completion process. "Keep in mind that if you run out of funding at some point during your doctorate, you will need to find paid work, and this will leave you even less time to focus on writing your dissertation," he says. "If one of the programs you’re looking at has a record of significantly longer – or shorter – times to competition, this is good information to take into consideration."

He adds that prospective Ph.D. students who already have master's degrees in the field they intend to focus their Ph.D. on should investigate whether the courses they took in their master's program would count toward the requirements of a Ph.D. program. "You’ll want to discuss your particular situation with your program to see whether this will be possible, and how many credits you are likely to receive as the result of your master’s work," he says.

How to Write M.D.-Ph.D. Application Essays

Ilana Kowarski May 15, 2018

Emmanuel C. Nwaodua, who has a Ph.D. degree in geology, says some Ph.D. programs require candidates to publish a paper in a first-rate, peer-reviewed academic journal. "This could extend your stay by a couple of years," he warns.

Pierre Huguet, the CEO and co-founder of H&C Education, says prospective Ph.D. students should be aware that a Ph.D. is designed to prepare a person for a career as a scholar. "Most of the jobs available to Ph.D. students upon graduation are academic in nature and directly related to their fields of study: professor, researcher, etc.," Huguet wrote in an email. "The truth is that more specialization can mean fewer job opportunities. Before starting a Ph.D., students should be sure that they want to pursue a career in academia, or in research. If not, they should make time during the Ph.D. to show recruiters that they’ve traveled beyond their labs and libraries to gain some professional hands-on experience."

Jack Appleman, a business writing instructor, published author and Ph.D. candidate focusing on organizational communication with the University at Albany—SUNY , says Ph.D. programs require a level of commitment and focus that goes beyond what is necessary for a typical corporate job. A program with flexible course requirements that allow a student to customize his or her curriculum based on academic interests and personal obligations is ideal, he says.

Joan Kee, a professor at the University of Michigan with the university's history of art department, says that the length of time required for a Ph.D. varies widely depending on what subject the Ph.D. focuses on. "Ph.D. program length is very discipline and even field-specific; for example, you can and are expected to finish a Ph.D, in economics in under five years, but that would be impossible in art history (or most of the humanities)," she wrote in an email.

Kee adds that humanities Ph.D. programs often require someone to learn a foreign language, and "fields like anthropology and art history require extensive field research." Kee says funding for a humanities Ph.D. program typically only lasts five years, even though it is uncommon for someone to obtain a Ph.D. degree in a humanities field within that time frame. "Because of this, many if not most Ph.D. students must work to make ends meet, thus further prolonging the time of completion," she says.

Jean Marie Carey, who earned her Ph.D. degree in art history and German from the University of Otago in New Zealand, encourages prospective Ph.D. students to check whether their potential Ph.D. program has published a timeline of how long it takes a Ph.D. student to complete their program. She says it is also prudent to speak with Ph.D. graduates of the school and ask about their experience.

Online Doctoral Programs: What to Expect

Ronald Wellman March 23, 2018

Kristin Redington Bennett, the founder of the Illumii educational consulting firm in North Carolina, encourages Ph.D. hopefuls to think carefully about whether they want to become a scholar. Bennett, who has a Ph.D. in curriculum and assessment and who previously worked as an assistant professor at Wake Forest University , says a Ph.D. is most appropriate for someone who is a "lifelong learner." She says someone contemplating a Ph.D. should ask themselves the following questions "Are you a very curious person... and are you persistent?"

Bennett urges prospective Ph.D. students to visit the campuses of their target graduate programs since a Ph.D. program takes so much time that it is important to find a school that feels comfortable. She adds that aspiring Ph.D. students who prefer a collaborative learning environment should be wary of graduate programs that have a cut-throat and competitive atmosphere, since such students may not thrive in that type of setting.

Alumni of Ph.D. programs note that the process of obtaining a Ph.D. is arduous, regardless of the type of Ph.D. program. "A Ph.D. is a long commitment of your time, energy and financial resources, so it'll be easier on you if you are passionate about research," says Grace Lee, who has a Ph.D. in neuroscience and is the founder and CEO of Mastery Insights, an education and career coaching company, and the host of the Career Revisionist podcast.

"A Ph.D. isn't about rehashing years of knowledge that is already out there, but rather it is about your ability to generate new knowledge. Your intellectual masterpiece (which is your dissertation) takes a lot of time, intellectual creativity and innovation to put together, so you have to be truly passionate about that," Lee says.

Curtis says a prospective Ph.D. student's enthusiasm for academic work, teaching and research are the key criteria they should use to decide whether to obtain a Ph.D. degree. "While the time it takes to complete a doctorate is an understandable concern for many, my personal belief is that time is not the most important factor to consider," he says. "Good Ph.D. programs provide their students with generous stipends, health care and sometimes even subsidized housing."

Erin Skelly, a graduate admissions counselor at the IvyWise admissions consulting firm, says when a Ph.D. students struggles to complete his or her Ph.D. degree, it may have more to do with the student's academic interests or personal circumstances than his or her program.

"The time to complete a Ph.D. can depend on a number of variables, but the specific discipline or school would only account for a year or two's difference," she wrote in an email. "When a student takes significantly longer to complete a Ph.D. (degree), it's usually related to the student's coursework and research – they need to take additional coursework to complete their comprehensive exams; they change the focus of their program or dissertation, requiring extra coursework or research; or their research doesn't yield the results they hoped for, and they need to generate a new theory and conduct more research."

Skelly warns that the average completion time of a Ph.D. program may be misleading in some cases, if the average is skewed based on one or two outliers. She suggests that instead of focusing on the duration of a particular Ph.D. program, prospective students should investigate the program's attritition and graduation rates.

"It is worthwhile to look at the program requirements and the school's proposed timeline for completion, and meet current students to get their input on how realistic these expectations for completion are," Skelly says. "That can give you an honest idea of how long it will really take to complete the program."

Searching for a grad school? Access our complete rankings of Best Graduate Schools.

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The Complete Guide to Getting Into an Economics Ph.D. Program

Math challenged? Never taken an econ class? Don't worry about it. There's hope for you yet.

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.

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 Ph.D. 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 Ph.D. program.)

Here is the not-very-surprising list of things that will help you get into a good econ Ph.D. 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 Ph.D. 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 Ph.D. 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 Ph.D. 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 Ph.D. 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 research assistants 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 Ph.D. 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.

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 Ph.D. 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.

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Preparing for a PhD in Economics

The minimum requirements of the Economics undergraduate major are not designed to be training for doctoral economics programs. Students who plan to continue their education should take more quantitative courses than the minimum required for the major. Preparation should start early in your undergraduate education. In addition to the information below, we recommend visiting the Career Center and the Career Library for additional graduate school planning resources.

Students who plan on going on to graduate school should participate in research as an undergraduate, and plan on writing an honors thesis during their senior year. NOTE: For students who completed P/NP courses in 2020-2021, we recommend reviewing this statement from the Council of Deans which reaffirms UC Berkeley's Graduate Division committment to a holistic review.

Course recommendations

• Math 53 and Math 54 (multivariable calculus and linear algebra)
• Economics 101A-B, the quantitative theory sequence
• Economics 141, the more quantitative econometrics course
• Additional math and statistics courses (linear algebra, real analysis, probability, etc.)
• Additional economics courses that emphasize theory and quantitative methods, such as Economics 103, 104, and 142.

Upper-division math and statistics courses for those who are adequately prepared (in order of importance)

• Math 110, Linear Algebra
• Math 104, Introduction to Analysis
• Stat 134, Concepts of Probability
• Stat 150, Stochastic Processes
• Math 105, Second Course of Analysis
• Math 170, Mathematical Methods of Optimization
• Stat 102/Stat 135, Linear modeling Theory and Applications
• Stat 151A, Statistical Inference
• Math 185, Introduction to Complex Analysis

Graduate math and statistics courses for those who are adequately prepared (in order of importance)

• Math 202A/202B, Introduction to Topology
• Stat 200A/200B,Introduciton to Probability and Statistics at an Advanced Level; graduate version of 101/102 sequence, not much more difficult, but harder than 134/135
• Stat 205A/205B,Probability Theory; graduate probability, much higher level than 200A/200B

Please note: This is just a recommendation; not all courses are required. Admissions requirements vary by university and by program. Students interested in pursuing graduate school should begin gathering information from prospective programs as early as possible.

Post-Baccalaureate Research Opportunities

Pursuing research after completing an undegraduate degree is a great option for students who would like to gain more experience prior to graduate school. Post-baccalaureate research opportunities can be found through the  National Bureau of Economic Research (NBER)  and PREDOC: Pathways to Research and Doctoral Careers . For research opportunities outside of the NBER,  click here  and  follow @econ_ra  on Twitter.

Graduate School Preparation Additional Resources

http://www.aeaweb.org/resources/students/grad-prep/considerations/  (Considerations for prospective graduate students in Economics)

https://www.aeaweb.org/resources/students/schools/  (Alphabetical list of U.S Graduate Programs in Economics)

https://www.aeaweb.org/about-aea/committees/cswep/programs/resources/events2  (Conferences, events and fellowships through the American Economic Association)

https://www.aeaweb.org/about-aea/committees/aeasp (American Economic Association Summer Training Program, AEASP)