Ph.D. program in economics aims to prepare students for outstanding research in economics. Upon graduation, our students will be able to pursue careers in prominent universities, research institutions, and government agencies in Turkey and abroad.
The first year of the program establishes a solid foundation in economic theory and econometrics, while during their second year, students take more advanced courses in the fields of their own choice. After finishing their coursework, students begin their own research and devote most of their time to writing their Ph.D. dissertation. Koç University is one of the best places to obtain a Ph. D. degree in economics.
The Economics faculty at Koç University has a solid reputation as contributors to the frontiers of knowledge in Turkey and abroad. Recently, the department has been ranked number 1 in Turkey and continues to improve its ranking in Europe and the world Students are supported by research and teaching assistantships.
They will have the opportunity to participate in the research projects of faculty members and teach their own classes so that they can develop their teaching skills further.
To obtain a Ph.D., students with an undergraduate degree will complete at least 14 courses (42 credits), while those with a Masters degree will complete at least 7 courses (21 credits) and a thesis. Also each PhD Student must fulfill the following requirements:
* complete their course work successfully,
* pass their comprehensive examinations, and
* defend their dissertation proposal.
Students who have teaching assistantship assignments must take TEACH 500: Teaching Experience during the semesters of their assignments. Students must also take ENGL 501: Advanced Graduate Writing course.
Required MA Courses
* ECON 500-Mathematical Foundations (non-credit, pre-fall Term 1st Year)
To facilitate a swift transition from undergraduate to graduate training, the mathematical foundation that all students should have before starting the MA courses is reviewed in a four-week long intensive Math Camp. Classes meet three days a week and there is an evaluation at the end of each week. Topics include: mathematical statements and proofs; functions; sequences and limits; continuity; differentiation; metric spaces; integration.
* ECON 501 Mathematics for Economists
Covers selected topics in mathematics that are frequently used in the economic theory and its applications. Topics include: introduction to optimization theory (existence of a solution, alternative characterization of compactness, Weirestrass Theorem, convexity); convex sets, concave and quasi-concave functions; characterization of a solution, Lagrange and Kuhn-Tucker approaches; parametric continuity, correspondences and maximum theorem; parametric monotonicity, lattices, supermodularity; fixed point theorems.
* ECON 503 Microeconomics I
Consumer theory; production theory; general equilibrium and welfare.
* ECON 504 Microeconomics II
Choice under uncertainty; game theory; mechanism design; principal-agent models.
* ECON 507 Macroeconomics I
Long-term economic growth; overlapping generations models; consumption, saving, and investment; real interest rates and asset prices; money and inflation.
* ECON 508 Macroeconomics II
Classical and Keynesian theories of cyclical fluctuations; real business cycle theory; determination of employment and real wages; credit markets and financial stability; stabilization policy.
* ECON 511 Econometrics I
Review of probability and statistics: random variables, univariate and joint probability distributions, expectations; bivariate normal; sampling distributions; introduction to asymptotic theory; estimation; inference. Linear regression: conditional expectation function; multiple regression; classical regression model, inference and applications.
* ECON 512 Econometrics II
Departures from the standard assumptions: specification tests; a first look at time series; generalized regression; nonlinear regression; simultaneous equations, identification, instrumental variables. Extensions and applications: ML, GMM, VAR, GARCH, panel data.
Required PhD Courses
* ECON 505 Advanced Microeconomic Theory
* ECON 509 Advanced Macroeconomic Theory
* ECON 513 Advanced Econometrics
* ECON 690 Seminar
* ECON 695 Ph.D. Disseration
Independent research towards Ph.D. degree.
* ENGL 501 Advanced Graduate Writing
This is a writing course specifically designed to improve academic writing skills as well as critical reading and thinking. The course objectives will be met through extensive reading, writing and discussion both in and out of class. Student performance will be assessed and graded by Satisfactory/Unsatisfactory.
* ECON 510 Topics in Microeconomics
* ECON 514 Advanced Game Theory
* ECON 515 Advanced Mechanism Design
* ECON 516 Advanced Law and Economics
* ECON 517 International Trade
* ECON 518 International Macroeconomics
* ECON 519 Financial Economics I
* ECON 520 Financial Economics II
* ECON 521 Financial Economics III
* ECON 522 Financial Economics IV
* ECON 530 Experimental Economics
* ECON 532 Economics of Information and Contracts
* ECON 580 The Economics of Institutions
The criteria outlined below are determined by the Higher Education Council of Turkey.
Students who are in their senior year at high school or who graduated from high school and who satisfy at least one of the below criteria may apply as international students.
International students can apply directly to undergraduate programs offered at Koç University OR be admitted into our English Language Center (ELC) preparatory year.
Since English is the language of instruction at Koç University, it is essential that you demonstrate competence in the language:
o TOEFL: IBT 80 WRT 20 / CBT 213 / PBT: 550 TWE: 4
o YDS: 80 (Yabancı Dil Sınavı – mostly for Turkish applicants)
Please note: it is not sufficient to have proficiency in English. International students are also required to satisfy the minimum acceptable scores or diploma grades in the exams or diplomas listed in Acceptable Exams and Diplomas and Minimum Eligibility Scores and Gradessection.
* Degree from Economics BA/MA or a related program.
* A minimum GPA of 3,00/4,00 for applicants with undergraduate degree.
* A minimum GPA of 3,25/4,00 for applicants with graduate degree.
* ALES: (For native applicants) minimum 70 from EW (Equally Weighted)
* GRE: Minimum 685/154 (quantitative)
Koc University graduate programs with thesis (MA with Thesis and Ph.D.) admit students with full tuition waiver; admitted students do not pay tuition.
Information on the tuition fee and Financial support to MA programs without Thesis can be found in each program's web page.
All admitted MA and Ph.D. students also receive the following benefits:
* Office space and laptop.
* Free housing nearby campus.
* Private health insurance.
* Coverage of expenses to participate in scientific conferences.
* Extra trainings (e.g., international summer schools) to contribute to students career success.
* Contribution towards thesis-related expenses.
* Summer internship programs overseas.
* Student Exchange possibilities with foreign universities
In addition to tuition waiver and above benefits, we also offer monthly stipend to the majority of our students in the "MA with Thesis" and PhD Programs.