Economics

The program in Economics at Brown trains students in economic theory and the tools of economic analysis. Through course work, participation in seminars, and supervised research, students are taught to conduct theoretical and empirical research at the highest level. The work in the program is demanding and the standards of performance are high. The department's reputation for providing superb training has enabled its graduates to compile an excellent placement record, including major research universities, prestigious liberal arts colleges, government and international agencies, and private industrial, consulting, and research firms. The department faculty includes the editor of the Journal of Economic Growth, a past editor of the American Economic Review, several fellows of the Econometric Society, several Sloan fellows, several Guggenheim fellows, and several associates and fellows of the National Bureau of Economic Research and the Center for Economic Policy Research.

The atmosphere in the department is highly collegial, and interaction among faculty members and graduate students is easy and extensive. The department hosts five weekly seminars (Economic Theory, Macroeconomics, Applied Microeconomics, Econometrics, and Race & Inequality).

The Ph.D. degree usually requires two years of course work, followed by supervised research and the completion of a doctoral dissertation. The first year involves core courses in microeconomics (Economics 2050, 2060), macroeconomics (Economics 2070, 2080), econometrics (Economics 2030, 2040), and two additional courses, one in mathematics (Economics 2010) and one in applied economics analysis (Economics 2020). Students take written core examinations in microeconomics, macroeconomics, and econometrics at the end of the first year. Starting in the second year, each student chooses two fields of specialization, and takes an oral field exam. Each field comprises two advanced courses within an area. Beyond the fields, the student takes three additional advanced courses, for a total of seven. The rest of pre-dissertation requirements include a research paper turned in at the end of the third year and two successful seminar presentations. 

The culmination of the Ph.D. program is the dissertation, which embodies the results of the student's original research. Work on the dissertation usually takes two-three years after completion of course work. Students working on dissertations participate actively in research workshops. After a faculty committee has approved the dissertation, the student takes a final oral examination on the subject of the dissertation.

The work in the Ph.D. program is demanding and the standards of performance are high. The Department's reputation for providing superb training has enabled its graduates to compile an excellent placement record. Some of the institutions at which recent graduates have obtained positions include major research universities (Chicago, Harvard, Johns Hopkins, Minnesota, New York University, Penn State, University College London, University of British Columbia, University of Pittsburgh, University of Toronto, University of Virginia), prestigious liberal arts colleges (Williams), government and international agencies (International Monetary Fund, Federal Trade Commission, World Bank, Congressional Budget Office, Board of Governors of the Federal Reserve System, US Census Bureau), and private industrial, consulting, and research firms. Brown graduates have an outstanding record of research accomplishments and publications.

Requirements

Entry into the Ph.D. program in economics is possible only in the Fall semester. The application deadline is December 15 for admission starting the following September. About 13 students enter the program each year.

All applicants must take the verbal, quantitative, and analytical sections of the Graduate Record Examination. In order to ensure that their scores reach us by January, applicants should take the GRE in October, or, at the latest, in December. Applicants whose native language is not English must also take the TOEFL examination. Further information about the GRE and TOEFL examinations can be obtained from the Educational Testing Service, Princeton, New Jersey 08540.

In preparing for the Ph.D. program in economics a student can pursue an undergraduate major in any field. However, four semesters of economic analysis and two years of calculus are required for admission. Courses in economic theory, differential equations, and linear algebra are highly recommended. A strong undergraduate record, particularly in Economics, Mathematics and other analytical subjects, provides evidence of the applicant's ability and preparation for undertaking graduate work.

Scholarships

The University and the Department offer financial aid to highly qualified applicants in the form of first-year Fellowships, Teaching Assistantships, Research Assistantships, and Dissertation Fellowships. Financial aid is usually offered to the students in the PhD program through the first five years of graduate study. All financial aid after the first year is conditional on making good academic progress towards the PhD degree as defined in the department's PhD Handbook.