<p>Hey guys, I was wondering if you wouldn't mind giving me some advice about getting into an economics Ph.D programs.
What kinds of things do they look for? Try to be specific!
I'm an undergraduate and I will graduate with a BA in economics.
My top choice is University of Chicago, but anything like Harvard, MIT, Stanford, Princeton, Michigan, etc. would be fine as well.
What kind of GPA? Obviously as high as possible, but I mean I don't exactly have a 4.0.
What kinds of GRE Scores? I'm assuming math 800 or close to. Research? Recs? Reputation of undergrad institution? Internships? Anything? Thanks!</p>
<p>This link might be helpful:
[Econ</a> Grad School](<a href=“http://www.davidson.edu/academic/economics/foley/gradschool.htm]Econ”>http://www.davidson.edu/academic/economics/foley/gradschool.htm)</p>
<p>Yes! Indeed that was highly useful, thank you very much!
Also, is there a site like Collegeboard where I can find each Econ Ph.D program’s acceptance rate, yield rate, average GPA/test scores, etc?</p>
<ol>
<li><p>phds.org has a lot of that information</p></li>
<li><p>look on grad cafe, too (but be prepared for College Confidential-like anxiety)</p></li>
<li><p>Math. They look for math.</p></li>
<li><p>Here’s what the University of Chicago undergraduate catalog says:</p></li>
</ol>
<p>
</p>
<p>Re the Math, proof-based math in particular. I understand that Complex Analysis is a nice cherry on the transcript and can testify at close second-hand that it will compensate for the lack of, say, an undergrad BA in Econ and courses like Econometrics.</p>
<p>Complex analysis isn’t necessary for math prep for a Ph.D. Econ – make sure you do take Real Analysis, however, since this is what modern economic analysis is built upon.</p>
<p>If you want to get into Chicago or any of the other schools you listed, you almost have to major in Math nowadays since those schools are heavy on quantitative methodology and theory.</p>
<p>Oh, Complex isn’t necessary but it’s a nice compensating factor for someone who might not have majored in Econ and have the full suite of expected Econ courses. Agree about the utility of a Math major for many programs.</p>
<p>Yeah, I think complex analysis would work more as a signal, per say, to grad schools that you can handle the coursework since very few courses (at least at my undergraduate school) were considered more difficult.</p>
<p>my understanding of phd econ programs:</p>
<ol>
<li>you NEED to take real analysis. additional courses in statistics/probability are also great. topics in algebra are not as useful. </li>
<li>you basically need a 4.0. most programs have ridiculous grade inflation, esp in econ, so there there is no excuse not do ace all your classes. </li>
</ol>
<p>IMHO, college confidential is gear towards high school students and some college kids. if you want a forum that talks a little more about econ graduate schools, try
[PhD</a> in Economics](<a href=“http://www.urch.com/forums/phd-economics/]PhD”>http://www.urch.com/forums/phd-economics/)</p>
<p>Thanks for the responses!
And @flemmyd, a 4.0 just isn’t going to happen…I go to University of Chicago for undergrad. There have been a mere handful in the last few decades to graduate with a 4.0.</p>
<p>About the math, I would love to double major in math and economics but for math there is a general education requirement of a year’s worth of chemistry or physics, which I do not want to do.
So if I complete all the requirements for the math major except chem or physics in addition to my econ BA, would that suffice instead of a double major? </p>
<p>By the end of undergraduate, I should have approximately 12-14 math classes, including:
Calc I, II, III
Linear Algebra, Multivariable Calc
Differential Equations
Introduction to Analysis, Analysis I, II, maybe III
Basic Algebra I and II
Possibly Studies in Mathematics, just for fun</p>
<p>I would also have two statistics classes, Intro to econometric and honors econometrics, as well as my undergraduate econ major classes.</p>
<p>How would approximately a 3.5 with this transcript look to grad school econ phd programs?</p>
<p>Which two statistics courses? I’d shoot for one being probability theory if you can.</p>
<p>Also, switch out Studies in Mathematics for something like Topology and I’d say you’ll be fine.</p>
<hr>
<p>Edit:</p>
<p>And if you get a 3.5 cumulative, you’d be fine for non Top-20 schools (I’d posit). I know U of C has the reputation of being a hard undergraduate university, but I don’t think you’d get exactly that much weight for that unless you get some LORs from some of the famous Chicago professors backing you up. If you wanted to look at top tier programs, I wouldn’t aim for anything lower than a 3.9 for all your math/econ classes. Mix in some doctoral economics courses and do well in them, too.</p>
<p>Helpful post, Oyama.
I will be taking STAT 234 and STAT 244, neither of which is probability but I suppose I can add on a probability course.</p>
<p>And thanks for your input about the GPA issue, but as much as I could dream, to get a 3.9 would be literally impossible-I am at a pathetic 3.21 at the moment.</p>
<p>Is there absolutely no way a 3.5 or so from Chicago could put an applicant within competitive range at, say, Berkeley, Yale, Penn, etc? So not the top five but top ten?</p>
<p>HonorsCentaur: check with your major advisor. He/she would be a better source to determine the GPAs of UChicago economic majors who have gone on to top PhD programs.</p>
<p>Yeah – it may be qualitatively different for Chicago applicants, but for the most part, I was really only meeting people with 3.9+ GPAs at some of my interviews. My cumulative GPA was 3.69, but had a 4.0 Econ (including 2 doctoral microecon classes) and 3.85 Math GPA, and had over two years research experience working in econ/game theory research. Every once in a while, I’d run into someone with a GPA around 3.6, but they had some other strong merit like a 1st/2nd author pub at a high-impact Econ journal, a famous professor write them a LOR, or whatever. Chicago is completely packed with them, so try finding a research opportunity under one of them.</p>
<p>I’ll actually be going to grad school in the Chicago area next year if you want to meet up and talk some things through.</p>
<p>Oh really haha sure, which grad school? </p>
<p>And I’m going to try to get a letter from John List. I’ve taken him before and plan to take another class from him. He’s a pretty famous economist.</p>
<p>John List is well-known. See if he allows undergraduates to be research assistants for him – that’s a much better way to get a strong letter of rec from him. A professor saying that you did well in his undergraduate economics courses only gets you so far.</p>
<p>Also, sent you a PM about which school I’m headed to.</p>
<p>Don’t forget, you’re going to need three letters so make sure you get to know other people. That said, getting a good letter from List who can vouch for your research skills will help. Also, write an honors thesis and make sure whoever writes your letters knows you are writing an honors thesis.</p>
<p>I didn’t have an RA position but I wrote/am writing a senior thesis, took a few grad econ courses (and a lot of grad math courses), and got letters from people that knew me (one of whom is pretty well-known). That’s pretty much all you can do as the admissions process really is a black box.</p>
<p>If you can, I suggest you take some more probability and statistics instead of algebra I and II. Linear algebra is critical, but abstract algebra isn’t that useful for economics.</p>
<p>Your letter from John List will be a HUGE asset. He’s the man that invented field/experimental methods in economics, and will probably get the Nobel Prize.</p>
<p>see these links:
<a href=“https://www.pdx.edu/sites/www.pdx.edu.econ/files/Econ%20PhD%20Straight%20Talk.pdf”>https://www.pdx.edu/sites/www.pdx.edu.econ/files/Econ%20PhD%20Straight%20Talk.pdf</a></p>
<p><a href=“Econ Grad School”>http://academics.davidson.edu/economics/foley/gradschool.htm</a></p>