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The Program

The Northwestern Economics Ph.D. curriculum is structured so as to achieve two objectives: to provide solid foundations to our students, and to encourage them to undertake their own research as soon as possible.

This is reflected in the first-year sequences in microeconomics, macroeconomics, and econometrics. Recent developments and cutting-edge tools are introduced along with more traditional material.

The preliminary examinations, or "prelims," take place at the end of the first year. There are two sittings, one in June and one in September. Under certain conditions, if necessary, students can take advantage of two further "retakes" at the end of their second year.

In their second and third years, students take advanced courses, in at least three different fields, and a course in economic history. Students are required to take at least two courses in each of their fields. Within the Economics Department, advanced courses are offered in economic theory, information economics, monetary and macroeconomics, economic history, development economics, public finance, labor economics, industrial organization, international economics, and econometrics. Courses offered at the Kellogg School - in particular, in the fields of Finance, Managerial Economics, Management and Strategy, and Political Economy - are also open and available to economics graduate students.

The Graduate Student Seminar is a key component of our effort aimed at encouraging students to get started on their own research projects early on. Students are required to write and present two papers to an audience comprising both faculty and peers. Student seminar papers often grow into full-fledged dissertation chapters, and sometimes even job-market papers. Students also start to attend the regular departmental research seminars. The economics department and the Kellogg School of Management offer as many as 10 different joint seminars and workshops each week. Visiting speakers continually bring the frontier of economic research to economics seminars.

By the end of their third year, students form a dissertation committee, and prepare a "prospectus" outlining their proposed doctoral research work.

Dissertation work, the job-market paper, and job search are, of course, the focus of the fourth and subsequent years. In preparing for the job market, the Department provides logistical and financial support for the distribution of a students' vita, paper and recommendation letters to prospective employers.

Overall, about 70% of our entering students are awarded a Ph.D., with a typical time to completion of 5 to 6 years. The attrition rate in the first year is 8%. Our entering class size is 20-25 a year, and about 130 graduate students are in residence at any given time.