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How to Prepare for a Ph.D. in Economics in the USA: A Guide for Undergraduates
This blog post is designed to guide undergraduate economics students towards a successful application for a Ph.D. program in the USA. It covers three key areas: preparation during your undergraduate studies, the application process itself, and what to expect as a graduate student.
I. PREPARATION
(1) Math
Economics is heavily reliant on mathematics. A strong foundation is crucial. Here are the essential courses:
- Multivariable calculus, integration, and partial derivatives
- Probability theory and statistics
- Linear algebra (matrices and vectors)
- Econometrics
For an exceptional preparation, consider taking real analysis courses as well.
(2) Economics Courses
Supplement your core economics courses with:
- Advanced econometrics
- Game theory
- Advanced microeconomics
Perform exceptionally well in intermediate microeconomics - it's a key indicator of your abilities.
(3) Research Experience
- Work on research projects with professors. Explore opportunities through undergraduate research programs or theses.
- Aim to publish a research paper, if possible. Mention your research experience and projects on your resume.
- Seek research assistant positions with professors or research institutions.
- Volunteer your assistance on professors' research projects.
(4) Teaching Experience
- Become a regular economics tutor, formally assisting classmates (not just casual help).
(5) English
- Effective communication is essential. Focus on clear and grammatically correct English writing and speaking. Don't be discouraged by an accent; focus on conveying concepts well.
(6) Software/Technological Knowledge
- Be proficient in Microsoft Office. Consider learning STATA, SAS, and R for data management and regression analysis.
II. APPLICATION
(1) Where to Apply
- Research economics program rankings and seek guidance from your professors for application targets.
(2) CV
- Ensure a typo-free and grammatically correct CV.
- Include: GPA, course list (mentioning textbooks for core classes), teaching/research experience, extracurricular activities, internships (with brief descriptions).
(3) Recommendation Letters
- Prioritize strong recommendation letters from professors who know you well and in whose classes you excelled. If you have research experience (even a class project), seek a letter from that professor.
(4) Personal Statement
- Be clear and concise. Explain your motivations for graduate school, how your academic background prepared you (mentioning specific topics and textbooks from micro/macroeconomics), and your research interests. Tailor your statement for each university. Ensure it's error-free and reflects your passion for economics.
(5) Funding
- Research assistantships for international students can be competitive. Consider teaching assistantships. Tutoring experience helps prepare for this role. Perform well on the TOEFL and GRE verbal section to strengthen your application.
III. LIFE AS A GRADUATE STUDENT IN THE U.S.A
(1) Graduate School
- Expect a rigorous first year of "boot camp" with core courses in microeconomics, macroeconomics, and econometrics. This is often the most challenging year, culminating in comprehensive exams.
- The second year onwards focuses on dissertation research. The average completion time is five years, ranging from three to more than five years depending on the individual.
(2) Social Issues
- A Ph.D. in economics requires dedication. Initially, expect demanding coursework. Time management is crucial, even for social activities. Be prepared to handle household chores independently.
- If coming with family, ensure everyone is aware of the challenges and open to cultural adaptation. The U.S. may differ from what you see in media.
For More Information:
- American Economics Association's Guideline for future PhD Economists [link to guideline]
- Stanford Professor Susan Athey's advice for PhD applicants [link to Professor Athey's advice]
We hope this blog post empowers you on your journey towards a Ph.D. in Economics! Feel free to share it with anyone who might find it helpful.
