Economics

Economics at Boston University offers a comprehensive curriculum designed to develop students' analytical and quantitative skills, deepen their understanding of economic principles, and prepare them for diverse career paths in business, government, and academia. The program provides a rigorous foundation in microeconomics, macroeconomics, econometrics, and various applied fields such as international economics, public policy, and financial economics. Students have the opportunity to engage in both theoretical and empirical research, utilizing state-of-the-art tools and methodologies to analyze real-world economic issues. The curriculum emphasizes critical thinking, data analysis, and effective communication, equipping graduates with the skills needed to interpret economic phenomena and make informed decisions. Through a combination of classroom instruction, research projects, and internships, students gain practical experience and a global perspective on economic systems. The program also offers specialization options allowing students to tailor their studies to specific interests, whether in economic theory, policy analysis, or quantitative methods. Faculty members are distinguished scholars and experts committed to mentoring students and fostering a dynamic learning environment. Boston University’s location in Boston, a hub for finance, technology, and innovation, provides students with unique internship and networking opportunities, enhancing their professional development. Graduates of the Economics program are well-prepared for careers in financial analysis, consulting, public policy, international organizations, or further academic pursuits such as graduate studies. The university’s strong emphasis on experiential learning and interdisciplinary collaboration ensures that students graduate with both a solid theoretical foundation and practical skills applicable in a rapidly changing global economy.

Course Requirements

Students must complete 16 semester courses (64 credits), and have the option of obtaining an MA in Political Economy (MAPE) while completing the requirements for the PhD. Course requirements are as follows:

• Core Courses (all doctoral students are required to successfully complete the core courses by the end of the second semester):
  • GRS EC 701 Microeconomic Theory
  • GRS EC 702 Macroeconomic Theory
  • GRS EC 703 Advanced Microeconomic Theory I
  • GRS EC 704 Advanced Macroeconomic Theory I
  • GRS EC 707 Advanced Statistics for Economists
  • GRS EC 708 Advanced Econometrics I
  • GRS EC 705 Introduction to Mathematical Economics (required unless a waiver is obtained)
• Students in the second year in the program must complete two 2-course field sequences

An overall GPA of 3.14 (pi) is expected in the first-year core courses. A “B” average (3.0) is required in each of the field course sequences. Students must have an overall GPA of at least 3.0 by the end of the second year. For the exact grade requirements and other program rules, see the department rules and regulations, available from the department on request.

Qualifying Examination

All students must pass qualifying examinations in microeconomics and macroeconomics by the end of their fourth semester. These are comprehensive, written exams that draw from the microeconomic and macroeconomic first-year core courses. The exam’s purpose is to ensure students are prepared to move forward in the program. The first round of qualifiers is held in June after the first year. A second attempt, if necessary, is offered in August. In some circumstances, a third attempt is possible the following June.

Each student must prepare a research paper toward the end of the second year and the following summer. By April 1 of the second year, the student must ask a faculty member to serve as an advisor on this paper, have this faculty member agree to serve in this manner, and inform the Director of Graduate Studies of the topic of the paper and the advisor’s name. The second-year paper should be submitted by October 1 of the third year. By October 15, the faculty advisor must provide (i) a grade for the paper and (ii) a brief written evaluation of the paper. A student must receive a passing grade on the research paper.

Dissertation and Final Oral Examination

Candidates shall demonstrate their abilities for independent study in a dissertation representing original research or creative scholarship. A prospectus for the dissertation must be completed and approved by the readers, the director of graduate studies, and the department chair/program director. Candidates must undergo a final oral examination in which they defend their dissertation as a valuable contribution to knowledge in their field and demonstrate a mastery of their field of specialization in relation to their dissertation. All portions of the dissertation and final oral examination must be completed as outlined in the GRS General Requirements for the Doctor of Philosophy Degree.

A student who exits the PhD program in Economics and wishes to earn an MA must fulfill all the requirements of the MA degree. Passed PhD courses can be counted as equivalent to appropriate MA core and elective courses, and performance in the PhD qualifying exams, meeting a prescribed standard, will count for the MA comprehensive exam. Details are available here.

Requirements

• Master's degree
• Transcripts
• Three academic recommendations (PhD)
• Two academic recommendations (MA)
• Personal statement/statement of purpose
• Official GRE General Test score report

The Boston University Economics program offers a range of financing options to support students throughout their studies. Undergraduate students can access federal and private financial aid, including need-based grants, scholarships, and student loans, by completing the Free Application for Federal Student Aid (FAFSA). Boston University also provides merit-based scholarships for outstanding academic achievement, which are awarded automatically upon admission or through a separate application process. Additionally, the university offers specific scholarships for students demonstrating financial need or contributing to diversity initiatives. Graduate students pursuing economics at the master's or doctoral levels may be eligible for Teaching Assistantships, Research Assistantships, and Fellowships, which often include tuition waivers and stipends to support their academic and research activities. External funding sources, such as federal and private research grants, may also be available for qualified graduate students involved in research projects. The university has a dedicated financial aid office that provides counseling and guidance to help students identify suitable funding opportunities, complete applications, and manage their financial planning effectively. Payment plans can be arranged to facilitate tuition fee payments over the semester or academic year, making the financial process more manageable. International students are advised to explore additional funding options, including private scholarships and external grants, to support their studies at Boston University. Overall, the program's financing options are designed to make economics education accessible and affordable while ensuring students can focus on their academic and research pursuits without undue financial stress.

The Bachelor of Arts in Economics at Boston University offers students a comprehensive understanding of economic theories, principles, and applications. The program emphasizes analytical skills, statistical methods, and critical thinking, preparing graduates for diverse careers in finance, government, consulting, and beyond. Students have the opportunity to explore microeconomics, macroeconomics, econometrics, and economic policy, gaining a broad perspective on global economic issues. The curriculum incorporates coursework that combines theoretical foundations with practical applications, often involving case studies, data analysis, and real-world problem-solving exercises. In addition to core courses, students can choose from a variety of electives to tailor their education to specific interests such as financial economics, development economics, or international economics.

Boston University’s Economics program is supported by faculty who are experts in their fields, often engaged in current research and policy analysis. The program encourages undergraduate research, providing students with opportunities to participate in projects, seminars, and internships that enhance their understanding of economic tools and concepts. The university's strong connections with industries and governmental agencies facilitate internship placements and employment opportunities, helping students transition from academic studies to professional careers.

Students pursuing the program also benefit from the university's vibrant campus life, including econometrics workshops, guest lectures from prominent economists, and participation in economics clubs and societies. The program typically takes four years to complete, culminating in a Bachelor’s degree. Boston University also supports students in pursuing honors or double majors, allowing a more interdisciplinary approach to their education. Graduates of the Economics program often continue their studies in graduate or professional schools, including institutions specializing in economics, business, law, or public policy. The program’s rigorous academic structure, combined with experiential learning opportunities, ensures that graduates are well-equipped to analyze and interpret economic data and issues critically and effectively.