Guide to Pursuing a PhD in Economics for OSU Undergraduates

Thinking about a PhD in economics? 

This guide is designed specifically for OSU undergraduates considering graduate study in economics. It covers key steps, recommended courses, application tips, and resources to help you succeed.

Why Pursue a PhD in Economics?

  • Skills gained: Economic modeling, data analysis, policy evaluation.
  • Careers: Academia, government, research institutions, private sector.
  • Recent job market placement histories for Econ PhDs are available online. For example: OSU, MIT, Harvard.

Preparing as an OSU Undergraduate

  1. Coursework Recommendations

  • Economics:

    • Intermediate Microeconomics (ECON 4001.02)
    • Intermediate Macroeconomics (ECON 4002.02)
    • Econometrics (ECON 5410, 5420)
    • Game Theory (ECON 5001)
    • Honors Seminar in Economics (ECON 4960H)
    • 5000-level electives
    • Microeconomics or Econometrics Grad sequence

     

  • Mathematics:
    • Calculus (MATH 1151, 1152, 2153)
    • Linear Algebra (MATH 2568)
    • Probability & Statistics (STAT 4201, 4202)
    • Real Analysis (MATH 4181H or 5201)
    • Differential Equations (MATH 2255)

 

  • Computer Science (Optional but Useful):
    • Programming (Python, R, MATLAB, or Stata)

    • Data Science & Machine Learning

       

  1. Research Experience
  • Apply for a Research Assistant position with an Econ department faculty.
  • Inquire about the Department’s Undergrad RA program that matches students to Econ PhD grad students.
  • Write an honors thesis or an independent research project (contact the Director of Undergraduate Studies for more information)
  • Attend the department’s weekly seminars in Micro (Applied and Theory/Experimental), Macro and Econometrics

 

Application Process & Timeline

  1. Key Components of a Strong Application
  • Letters of Recommendation: Secure strong letters from faculty who know your research abilities.
  • Statement of Purpose: Clearly articulate research interests and why you’re pursuing a PhD.
  • Writing Sample: A strong research paper (e.g., honors thesis) can boost your application.
  • GRE Scores: Aim for 165+ in Quantitative.

 

  1. Timeline 

Sophomore/Junior Year:

  • Strengthen coursework in math & economics.
  • Gain research experience
  • Network with professors.

Senior Year (Fall):

  • Take the GRE.
  • Finalize recommendation letter requests.
  • Draft your statement of purpose.

Senior Year (Winter):

  • Submit applications (deadlines: December–January).
  • Apply for external fellowships (e.g., NSF GRFP).

Choosing the Right PhD Programs

  • Consider program rankings, faculty research fit, and placement outcomes.
  • Top programs: MIT, Harvard, Chicago, Stanford, Princeton, etc.
  • Strong alternatives: OSU, Michigan, Wisconsin, Minnesota, etc.

External Links to Additional Resources

https://www.aeaweb.org/resources/students/grad-prep/considerations

https://www.aeaweb.org/joe/communications/video/2024/webinar-oct

http://econ.williams.edu/students/grad-school-preparation

http://qz.com/116081/the-complete-guide-to-getting-into-an-economics-phd-program/

Final Thoughts

Pursuing a PhD in economics is challenging but rewarding. If you're serious about it, start preparing early, build strong relationships with faculty, and gain solid research experience.

For questions, reach out to OSU Economics faculty or the department’s academic advisors!