ECON-PHD - Economics (PhD)
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Program Overview
The doctoral program in Economics’ primary objective is to educate students as research economists, acquainting them with the economic aspects of modern society, to familiarize them with techniques for analyzing contemporary economic problems, and to develop an ability to exercise judgement in evaluating public policy. The curriculum includes a comprehensive treatment of modern theory and empirical techniques.
The program is designed to ensure that students receive a thorough grounding in the methodology of theoretical and empirical economics while at the same time providing specialized training in a wide variety of subfields and a broad understanding of associated institutional structures. Toward these ends, the program is arranged so that the student has little choice in the curriculum at the outset but considerable latitude later.
The program is full-time, and doctoral students in the Economics PhD program are expected to maintain a significant physical presence on campus throughout their graduate studies. This ensures that students have access to advisors and mentors, libraries, and other resources that support timely progress towards completion of the degree requirements. Additionally, being on campus ensures that students are part of the academic and campus community, which supports continued professional development.
Admissions Information
Information on how to apply for graduate study at Stanford is available on the university’s Graduate Admissions website. Application information specific to the PhD in Economics can be found on the Economics Department website.
Minimum Units in the Program
Minimum University Units
Students must be enrolled based on departmental expectations stated in the Handbook until they reach 135 units. After that, a student should have completed all coursework and must request Terminal Graduate Registration (TGR) status.
Students in the department of Economics are expected to maintain an overall grade point average of at least a B. Each individual course must be completed with a grade of B- or higher. However, the expectation is that students will earn a minimum of a B in all PhD-level coursework; grades of B- or below are considered inadequate. All such grades are reviewed by the Director of Graduate Studies (DGS) and may require the course to be retaken. Any grade of C+ or lower will always necessitate a retake. If a course must be retaken, the DGS will specify the grade needed to be considered as making satisfactory progress.
Except in rare cases, satisfactory progress requires no more than two of the following to appear on the transcript at any given time: Incomplete (‘I’), Not Passed or No Credit (‘NP’ or ‘NC’), grades of B- or below, or Withdrawn (‘W’).
Failure to meet these degree requirements may lead to dismissal from the program.
The graduate core consists of three different sequences. To pass a sequence, an overall grade average of B is required, and individual course grades must be ‘B-’ or better; grades of B- or below are considered inadequate. All such grades are reviewed by the Director of Graduate Studies (DGS) and may require the course to be retaken. Any grade of C+ or lower will always necessitate a retake. If a course must be retaken, the DGS will specify the grade needed to be considered as making satisfactory progress.
Petitions to substitute courses must be approved by the DGS prior to the start of the quarter. Waiving out of any core course must be submitted via the online form for instructor approval at least two weeks before the start of the term.
Specifics about each year’s field requirement updates can be found on the Economics department website
A student may satisfy the requirements for the econometrics field by completing the requirements of one of two subfields:
Students may also take any Stats course 300 level or above. A grade of B or better is required in all courses.
Grade of B or better is required in the field.
Students focusing on Development as their primary field must take all three courses.
Regular attendance is required at the Development Economics workshop and the Development student workshop.
Grades of B+ or higher is required. A research proposal presentation is required at the end of the second year.
Courses cannot be double-counted towards other fields.
Presentation at the mid-end of spring quarter required.
ECON251 can substitute for ECON258 only, as long as the student is not also using ECON 251 to fulfill requirements for the Environmental field. Students who select Industrial Organization as a primary focus are also expected to take ECON260.
Those interested in an International Trade concentration should take, at a minimum, 266 and 267; those interested in an International Finance concentration should take, at a minimum, 268 and 269. Students are expected to develop and present a research proposal in each course. The goal is to develop a good research idea that could lead to a second-year paper.
Students must pass all courses with a grade of B or better. With instructor approval, students can substitute another macroeconomics class for 268 or 269 or GSB F632.
NOTE: Students must pass all courses with a grade of B or better.
A research proposal presentation in each course is required. ECON 236 and 237 may not be double-counted toward both the macroeconomics and the finance field. ECON 267 may not be double-counted toward both the macroeconomics and the international trade field. Grades of B or better are required.
Presentation of original research in spring quarter is required.
Presentation of original research in spring quarter is required.
Complete these courses for a grade of B or better.
Students may petition to substitute Econ 221 for a comparable course with approval by Matthew Gentzkow in advance.
Regular attendance at the Public Economics workshop is required for students in their third year or above to receive credit for the field. Grade of B or better is required.
Students must complete four other graduate-level courses meeting the following requirements:
At least one course from the area of economic history, unless history is one of the two fields of specialization.
Courses in at least two fields other than the two fields of specialization. Distribution courses cannot be cross-listed in those fields.
With advance approval of the Director of Graduate Study, some of these distribution courses may be drawn from related fields taught in other departments. However, no more than two courses in total may be taken outside the Economics department, including courses to meet the specialization or distribution requirements.
All courses used to fulfill distribution requirements must be passed with a grade of B or better.
Third-Year Seminar: presentation of an expanded research paper in spring quarter of the third year.
Seminar Participation: Each student is expected to participate in at least one all-year research seminar or three quarters of the same field seminar by the end of the fourth year of residence. Usually, participation in a seminar requires one or more oral presentations and the submission of a research paper (which, however, need not be completely separate from dissertation research). Detailed information on fulfilling the seminar requirements can be found on the Economics department website.
All students must submit a second-year paper by August 31 of the second summer, and students have to arrange with a faculty member to oversee that paper by the end of the spring quarter of the second year. A draft submission is due three weeks prior to this date.
An advisor on a second-year paper should make sure that the student is progressing on the paper during the summer by setting a timeline and meeting with them at critical points. This must be finished on time so students can move on to new projects or further develop it during the third year. Students are encouraged to talk to multiple faculty, but the person who signs their paper should take responsibility. The student is also responsible for seeking advice and communicating regularly with their advisor about progress and unexpected setbacks, which are inevitable in research. Second-year papers can be co-authored with other students and/or faculty.
Teaching is core to the academic and professional training of doctoral students in our program. All students are required to complete one quarter of teaching in the Economics department by the end of their fourth year in the program, regardless of their financial support. Typically, students complete more than the required number of teaching quarters as part of their professional training and financial support.
Complete the Graduate Core course sequences unless a waiver has been received for one or more of the courses.
Completing the requirements in two additional advanced fields of specialization or, if approved in advance by the Director of Graduate Study, in one such field with a substantial amount of work toward a second field taught in a related department (e.g., GSB Finance). Students may request permission from the Director of Graduate Study to create a field not listed as an advanced field, such as International Finance or Law & Economics. Requirements for completing a field can usually be satisfied by completing two courses and a paper. However, students in some fields may be advised to add a third course, which can be counted toward the distribution requirement.
Completing the second-year paper. This paper should demonstrate good scholarship and argumentative rigor and be a polished piece of writing. The second-year paper need not bear any specific relationship to the dissertation. It may be a version of a prospective dissertation chapter, but this is not required.
Complete the Application for Candidacy for Degree of Doctor of Philosophy form available on the Economics department website. The faculty votes to determine whether the student has the potential to complete the requirements of the degree program successfully. Failure to advance to candidacy results in dismissal from the program.
In the Department of Economics, the oral exam is a defense of the dissertation presented upon the completion of a substantial portion of the dissertation or upon completion of a pre-final draft. Students consult with their dissertation advisor and reading committee members on the timing of the defense. Students are expected to complete this milestone by the end of their sixth year in the program.
Students are required to submit an approved dissertation that makes an original contribution to Economic scholarship. This may include three separate papers. Students are expected to submit the dissertation by the end of their sixth year in the program. Students should be enrolled in a graduation quarter during this quarter.