Grs ec701 microeconomic theory.
Prereq: GRS EC705 and consent of instructor. Primarily for PhD students. Neo-classical general equilibrium theory. Topics covered include consumption, production, existence of competitive equilibrium, fundamental welfare theorems, externalities, and uncertainty.
GRS EC702 Macroeconomic Theory
Prereq: GRS EC701 and consent of instructor. Primarily for PhD students. Basic Keynesian model: consumption, investment, and money demand functions. Extension to the open economy. Determinants of money supply. Effectiveness of monetary and fiscal policy. Inflation and income policy. Elementary growth models.
GRS EC703 Advanced Microeconomic Theory I
Prereq: 701, 705 or equivalent. Walrasian equilibrium: existence, uniqueness and core equivalence. Uncertainty: Arrow Debreu contingent commodities, Radner equilibrium, incomplete markets. Economics of information: rational expectations, adverse selection, signaling and screening. The principal-agent problem.
GRS EC704 Advanced Macroeconomic Theory
Prereq: GRS EC702 and consent of instructor. Primarily for PhD students. Consumption theory and evidence, investment theory and evidence, monetary theory, microfoundations of macrosystems, theory of rational expectations, models of fiscal and monetary macroeconomic policy, and employment theory and policy.
GRS EC705 Introduction to Mathematical Economics
Prereq: consent of instructor. Linear algebra, differential calculus of functions of several variables, elementary real analysis, constrained maximization, and dynamics.
GRS EC707 Advanced Statistics for Economists
Prereq: GRS EC705 or consent of instructor. Application of statistical tools, covering properties of estimators, covariance matrix and correlation, analysis of variance, hypothesis testing, likelihood functions, and likelihood ratio tests. Intended as preparation for GRS EC708.
GRS EC708 Advanced Econometrics I
Prereq: GRS EC705 and EC707. Basic course of econometric theory for MAPE/PhD students. Covers the theory and applications of the LS and ML estimators of the linear single equations models. OLS, GLS, and Gauss-Markov theorem, autocorrelation, heteroscedesticity, nonlinear estimators, distributed lags, errors in variables, instrumental variable estimators, choice models. Introduction to simultaneous equation models.
GRS EC709 Advanced Econometrics II
Prereq: GRS EC708 or consent of instructor. Advanced course for second-year PhD students who have a solid knowledge of basic econometric methods. Covers estimation and simulation of simultaneous equation models and some selected topics in multivariate analysis.
GRS EC711 Advanced Topics in Econometrics
Prereq: GRS EC709 and consent of instructor. Discusses, in abstract fashion, approaches to estimation and inference that are most often used in econometrics, including maximum likelihood and method of moments; recent developments in econometrics that allow one to overcome some of the shortcomings in using the standard approaches to estimation. Main emphasis on cross-sectional applications with some mention of time series applications and further discussions of specification analysis and testing.
GRS EC712 Time Series Econometrics
Prereq: GRS EC708 or consent of instructor. The course first presents the standard theory of stationary stochastic processes: models, estimation in the time and frequency domain, spectral analysis, asymptotic distribution, Kalman filter; VAR models. The second part deals with nonstationary processes (i.e., unit roots) and discusses such topics as functional central limit theorem, asymptotic results with unit roots, tests for unit roots, estimation and tests in cointegrated systems, models with structural changes.
GRS EC716 Game Theory
Prereq: GRS EC705 or a course in real analysis. Introduction to noncooperative and cooperative games with applications in the social sciences.
GRS EC717 Advanced Topics in Microeconomic Theory I
Prereq: consent of instructor. Topics in advanced microeconomic theory to be selected by course instructors. Critical analysis of key papers in the literature.
GRS EC718 Advanced Topics in Microeconomic Theory II
Prereq: GRS EC703 or consent of instructor. Topics in advanced microeconomic theory to be selected by course instructors. Critical analysis of key papers in the literature.
GRS EC721 Topics in Development Economics
Prereq: GRS EC701, EC702, EC703 and EC704 or consent of instructor. Examines the economic development of nations from the perspectives of their relationship with the global economy, to identify issues that are central to economic development in the world economy, and to provide analytical methods for analyzing these issues and formulating policy. Evidence on these issues from Africa, Asia, and Latin America are examined. Some topics to be covered: the role of international trade in economic growth; trade between developed and developing countries; public and private foreign capital; research and development and technology transfer; exchange rate regimes and capital flight.
GRS EC722 Topics in Economic Development II
Prereq: 701, 703, 708 or equivalents. This course covers a range of topics on failures of markets and governance in developing countries. Recent research papers including both theoretical and empirical analysis are discussed, including class presentations by students. Topics include credit and insurance market imperfections; implications for investment, inequality and growth; social networks and social learning. Models of political economy and government accountability, with applications to land reform, decentralization, education, tax policy, and role of the media.
GRS EC731 Market Organization and Public Policy
Prereq: GRS EC701 or EC703. Analytical foundations of public policy toward market organization. Theoretical emphasis on imperfect competition, theory of the firm, and markets with incomplete information. Implications for policy in developed and less-developed countries.
GRS EC732 Topics in Industrial Organization
Prereq: consent of instructor. Topics vary from year to year and may include the economics of contracting and the firm, the economics of regulation, and dynamic models of oligopoly.
GRS EC741 Topics in Macroeconomics and Monetary Theory
Prereq: GRS EC701, EC702, or consent of instructor. Alternative views of demand and supply of money and financial assets. Analytical theories of monetary policy. Problems in the exercise of monetary policy.
GRS EC742 Applied Macroeconomics
Prereq: GRS EC704, EC708, and consent of instructor. Empirical specification of macroeconomic functions including measuring variables, lag structures, and functional forms; estimation and simulation of multiple equation macro models; and use of models for optimal policy design and positive policy prognosis.
GRS EC744 Economic Dynamics
Prereq: consent of instructor. Introduces the theory and application of dynamic optimization and equillibrium analysis, with emphasis on computational methods and techniques. Covers discrete and continuous time models in both deterministic and stochastic environments.
GRS EC745 Macroeconomics and Financial Markets
Prereq: consent of instructor. The course covers recent developments in utility-based asset pricing theory with applications to stocks, bonds and currencies. It integrates macroeconomic and financial theories and their empirical evaluations, focusing on tests and consequences of asset returns’ predictability.
GRS EC751 Topics in Labor Economics I
Prereq: consent of instructor. A survey course which combines an examination of all the major fields in labor market analysis with a comprehensive treatment of methodological topics. Designed to provide the tools necessary to begin a thesis in the field. Topics covered in depth include unemployment, wage setting models, human capital models, and labor motility.
GRS EC752 Topics in Labor Economics II
Prereq: GRS EC701 and consent of instructor. Considers models which explain the origins and persistence of differences in incomes between individuals, groups, and regions. Draws on literatures in applied microeconomic theory, labor economics, development economics, public finance, and social choice theory. Discusses topics at the juncture of economics and sociology which bear on the theme of inequality.
GRS EC761 Public Finance
Prereq: GRS EC701 or consent of instructor. The theory of excess burden; optimal taxation; static, dynamic, and interregional tax incidence; public goods; externalities; corporate taxation; dynamic fiscal policy; and cost-benefit analysis. Extensive use of calculus.
GRS EC762 Topics in Applied Public Finance
Prereq: GRS EC701 and EC702, or consent of instructor. Theory and practice of benefit-cost analysis and other similar techniques for evaluating investment projects. Emphasis on sources of divergence between public and private investment decisions through the estimation of shadow prices in a context of market distortions and disequilibrium. Case studies applying theoretical approach.
GRS EC764 Topics in Economic History
Grs ec781 health economics i.
Prereq: GRS EC701 or consent of instructors. Advanced concepts of health economics, covering classic problems of uncertainty, moral hazard, adverse selection, and agency problems. US and foreign settings considered The primary focus is on understanding the implications of incentives on individual agents without worrying about market interactions.
GRS EC782 Health Economics II
Prereq: GRS EC701 and EC708 or consent of instructor. Advanced concepts of health economics, emphasizing the market interactions and diverse institutions. Developed and developing country experience is examined. Households, individuals, providers and insurers are all considered from both theoretical and empirical perspective.
GRS EC791 International Trade
Prereq: GRS EC701 and consent of instructor. Pure theory of international trade. Analysis of various models that determine comparative advantage. Welfare effects of trade. Emphasis is placed on the use of formal models to analyze tariffs, quotas, and subsidies. Analysis of trade under various competitive frameworks.
GRS EC792 International Finance
Prereq: GRS EC791 or consent of instructor. Extension of important topics introduced in GRS EC791; gains from trade and balance-of-payment adjustment under various conditions of market imperfection; effective production analysis; monetary approach to the balance-of-payment; theorems in the pure theory of trade.
GRS EC794 Financial Econometrics
Prereq: doctoral standing. For PhD students working in the area of econometrics, finance, and applied macroeconomics. Topics include prediction of asset returns, financial volatility, asset allocation, value at risk, and high frequency data analysis.
Graduate Workshops for MAPE/PhD Candidates
Grs ec901-902 dissertation workshop in macro and monetary economics.
Prereq: completion of PhD qualifying examinations. Presentation and discussion of dissertation topics and work in progress.
GRS EC903-904 Dissertation Workshop in Applied Microeconomics
Grs ec905-906 dissertation workshop in economic theory.
Directed study courses are to be arranged with individual faculty members at the time of registration. The Graduate Academic Administrator should be notified of such arrangements, including the course credit agreement, which varies.
Odd-numbered courses are offered in the fall and the first summer session. Even-numbered courses are offered in the spring and the second summer session.
GRS EC905/906 Directed Study in Economic Theory GRS EC911/912 Directed Study in Statistics and Econometrics GRS EC915/916 Directed Study in Economic Planning GRS EC921/922 Directed Study in Economic Development GRS EC931/932 Directed Study in Rural and Agricultural Development GRS EC935/936 Directed Study in the Economics of Public Enterprise GRS EC941/942 Directed Study in Money and Finance GRS EC943/944 Directed Study in Macro/Money GRS EC951/952 Directed Study in International Economics GRS EC961/962 Directed Study in Economic History GRS EC963/964 Directed Study in History of Economic Thought GRS EC965/966 Directed Study in Public Finance GRS EC971/972 Directed Study in Labor and Manpower Economics GRS EC979/980 Directed Study in Urban and Regional Economics GRS EC989/990 Directed Study in Health Economics GRS EC991/992 Directed Study in Comparative Economic Systems GRS EC995/996 Directed Study in Industrial Organization
Course Preparation for Required Examinations
The following courses are recommended as preparation for the PhD qualifying exams: EC701, EC702, EC703, and EC704.
- Utility Menu
- PhD Program
The Ph.D. Program in the Department of Economics at Harvard is addressed to students of high promise who wish to prepare themselves in teaching and research in academia or for responsible positions in government, research organizations, or business enterprises. Students are expected to devote themselves full-time to their programs of study.
The program prepares students for productive and stimulating careers as economists. Courses and seminars offered by the department foster an intellectually active and stimulating environment. Each week, the department sponsors more than 15 different seminars on such topics as environmental economics, economic growth and development, monetary and fiscal policy, international economics, industrial organization, law and economics, behavioral economics, labor economics, and economic history. Top scholars from both domestic and international communities are often invited speakers at the seminars. The Harvard community outside of the department functions as a strong and diverse resource. Students in the department are free to pursue research interests with scholars throughout the University. Faculty of the Harvard Law School, Kennedy School of Government, and Harvard Business School, for example, are available to students for consultation, instruction, and research guidance. As a member of the Harvard community, students in the department can register for courses in the various schools and have access to the enormous library resources available through the University. There are over 90 separate library units at Harvard, with the total collections of books and pamphlets numbering over 13 million. Both the department and the wider University draw some of the brightest students from around the world, which makes for a student body that is culturally diverse and likely unequaled in the range of intellectual interests of its members. These factors combine to add an important dimension to the educational process. Students are able to learn from one another, collaborate on research projects and publications, and form bonds that are not broken by distance once the degree is completed and professional responsibilities lead them in different directions.
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Department of Economics
Course details phd programme in economics.
Here you will find practical information about courses, schedules, exams and more in the PhD programme.
All courses give 7.5 credits (ECTS) and are with the Department of Economics at Stockholm University unless stated otherwise. Courses in year 1 are mandatory for students in our PhD programme.
If you're a student not in our programme, but wish to take one of our courses, first contact the course director.
14–17 August 2023
Bootcamp in computational economics, 14–17 August (no credits)
Autumn term 2023
Quarter 1 and 2.
Mathematics I (EC38031/PhD500, SSE)
Microeconomics I (EC38008)
Mathematics II (EC38030)
Microeconomics II (EC38009/PhD502, SSE )
Spring term 2024
Quarter 3 and 4.
Econometrics I (EC38002)
Macroeconomics I (EC38004, SU/SSE)
Econometrics II (EC38003)
Macroeconomics II (EC38005)
Year 2 and 3
Further details and schedules will be added or may change. Talk with your supervisor or director of studies about individual courses.
All courses are with the Department of Economics at Stockholm University unless stated otherwise.
Applied empirical economics I (EC38024)
Development economics I (EC38022)
Labor I: Labor supply, productivity, and earnings heterogeneity (EC38025)
Quantitative macroeconomic methods I (EC38020)
Empirical corporate finance (PhD402, SSE/SHoF)
Development economics II (EC38023)
Public economics (EC38039), intensive course 11–15 December 2023
Quantitative macroeconomic methods II (EC38021)
Industrial organization (PhD506, SSE)
Political economy and public choice (PhD505, SSE)
Labour II (Uppsala University)
From idea to paper. A paper writing course in development and experimental economics (EC38035)
Labor III: Human capital (EC38010)
Monetary economics (EC38026)
Political economics II (EC38011)
Economics of conflict (PhD525, SSE)
Design-based research using observational data (EC38029)
Growth and productivity (EC38036)
Labor IV: Imperfect and regional labor markets (EC38015)
Political economics III (EC38016)
Topics in international trade (EC38018)
Towards clarity and grace in academic writing (EC38038), 3 credit course)
Unconventional monetary policy: Theory and practice (EC38037), 5 credit course )
Institutional and organisational economics (PhD518, SSE)
Schedules and examinations
Your course schedule is available both on the Athena site and in Timeedit. Sign in to see your schedules. You will also see dates and times of written exams in schedules, and once it's confirmed, the location.
Register for exams in Ladok
Registration in Ladok is mandatory for all written examinations. Registration deadlines are communicated on Athena.
Ladok for students
- Examination services
Thoroughly read the information given by Examination services, on examination rules, how to find the examination hall and your seat etc. Always bring a valid ID card.
Examination services at SU
Examples of previous exams will be posted on the Athena site.
Re-take exams for Microeconomics I (EC38008) and Mathematics I (EC38031/PhD500) are scheduled in January, and the rest first-year courses in August.
Check your course schedule for exam dates and times, as well as the Athena site for registration dates in Ladok. Contact the course administrator if you need to re-register on a course in order to take an exam.
A to Z for new PhD students
Athena is the main learning platform at Stockholm University (SU). On your course site you will find the schedule, syllabus, readings and more. You can also download Athena as an app.
The Stockholm School of Economics (SSE) uses Canvas as their learning platform. They will send you information about how to sign in.
- Credit transfer
For first-year courses, you need to fill out an application form. First talk to Ann-Sofie Kolm about which courses you want to transfer, then contact Anneli Eriksson for a form.
All first-year courses have written exams. Re-take exams are scheduled in January and August. Registration is mandatory in Ladok, deadlines will be communicated on the Athena site. For courses and exams at SSE, register with them.
Please read this information before sitting your first exam:
The official grading scale at Stockholm University for PhD studies is pass (G) and fail (U). These are the grades you will see in Ladok. However, SSE has a three-point scale: pass with distinction (VG), pass and fail, and you will receive additional grades on this scale in your first year, which will be reported in another system by the department.
Graduate students' council (GSC) at the Department of Economics
GSC is a forum for discussion among the graduate students. Find more information on our websites.
SU uses Ladok as their student registration and grading documentation system. Here you will find your course registrations, grades, credits, academic transcripts etc. You also register for written exams in Ladok.
In order to get student discounts, you usually need the Mecenat card or Studentkortet. You can print a transcript of records from Ladok in your first year. From year 2 you need a certificate from the course administrator.
- Studying with a disability
You can apply for targeted study support if you have a medically documented long-term disability.
- Swedish personal identity number
If you don't have a Swedish personal identity number, you need to apply for it at Skatteverket. Visit their website for more information. When you have it, email the document to [email protected] as well as [email protected] .
You will find your schedules both on Athena and in Timeedit. You can login with your personal identity number to see all your course schedules.
T-number in Ladok
The T-number (or sometimes an R) is a temporary number you have in Ladok before you have your Swedish personal identity number. Remember to email Ladok when you have it, and they will change it for you: [email protected]
Websites for more information
PhD Programme in Economics Course details PhD programme in Economics Department of Economics Nationalekonomiska institutionen
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Södra huset A, room A763
Södra huset A, room A606
Last updated: October 13, 2023
Source: Department of Economics
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- Graduate research
- Department of Economics
- Application code L1U4
- Starting 2024
- Home full-time: Open
- Overseas full-time: Open
- Location: Houghton Street, London
This programme offers you the chance to undertake a substantial piece of work that is worthy of publication and which makes an original contribution to the field of economics. You will begin on the MRes degree, and will need to meet certain requirements to progress to the PhD.
The Department of Economics pioneered the development of systematic research training in economics in Britain and our MRes/PhD Economics aims for the highest international standard of achievement and professional competence. The programme offers structured research training and supervision by faculty prominent in their fields. It begins with two years of rigorous coursework, equipping you with the theoretical knowledge and analytical techniques necessary to proceed to the research component of the programme.
Many research students are associated with the work of one of LSE's research centres. You could work with the Suntory and Toyota International Centres for Economics and Related Disciplines on areas ranging from development economics to public policy; or on research technology, growth and globalisation as part of the Centre for Economic Performance . You could contribute to major research programmes addressing the key issues of unemployment, inflation, fiscal and monetary policy, macroeconomic development and growth, financial markets, and changes in the world economy at the Centre for Macroeconomics ; or specialise in risk management, asset pricing, financial institutions and corporate finance as part of the Financial Markets Group .
For more information about tuition fees and entry requirements, see the fees and funding and assessing your application sections.
Minimum entry requirements for mres/phd economics.
An upper second class honours (2:1) degree (or equivalent) in any field. Some preparation in economics, a strong mathematics background and evidence of research potential are essential. The goal of the MRes/PhD Economics is to train first class researchers. We will use all available information to assess research potential.
Competition for places at the School is high. This means that even if you meet our minimum entry requirement, this does not guarantee you an offer of admission.
If you have studied or are studying outside of the UK then have a look at our Information for International Students to find out the entry requirements that apply to you.
GRE is required for all applicants. This must be no more than five years old on 1 October 2024 and must show full and percentile scores for all three sections. Most successful MRes/PhD Economics applicants score 166 or above in the quantitative section.
Find out more about GRE/GMAT
Assessing your application
We welcome applications for research programmes that complement the academic interests of members of staff at the School, and we recommend that you investigate staff research interests before applying.
We carefully consider each application on an individual basis, taking into account all the information presented on your application form, including your:
- academic achievement (including existing and pending qualifications) - statement of academic purpose - references - CV - research statement - GRE/GMAT
See further information on supporting documents
You may also have to provide evidence of your English proficiency. You do not need to provide this at the time of your application to LSE, but we recommend that you do. See our English language requirements for further information.
When to apply
The application deadline for this programme is 14 December 2023 . However, to be considered for any LSE funding opportunity, you must also have submitted your application and all supporting documents by this deadline. See the fees and funding section for more details.
An application for entry to the MRes/PhD Economics should include a Research Statement, along with other required information (Note: A separate sample of written work is not required as part of the MRes/PhD Economics application).
What should my Research Statement contain?
Your Research Statement should be submitted in place of the Outline Research Proposal, along with your application form and other required supporting documents, via the LSE online application system.
Please answer the following questions clearly and concisely. Max 200 words per question.
- Why do you want to do research in economics?
- Can you explain how your studies and experience make you suitable to do research in economics?
- Which aspect of the PhD do you think you will like the most? Which will you dislike the most? Why?
- Tell us about your favourite paper in economics. What do you like about it? How would you improve it?
- Write a comment for a general audience on ONE of the following topics (i) Is inequality good for growth? (ii) Do immigrants take the jobs of native workers? (iii) Is CEO compensation excessive? (iv) Is universal minimum income a good idea? (v) Overall, has central banks' move to inflation targeting has been a success? (vi) Is culture an important determinant of differences in income per capita across countries? (vii) Markets function well as information is aggregated efficiently through prices. (viii) Elections are effective at disciplining politicians who do not have the public interest as their main goal.
How can I demonstrate research potential?
If you have served as research assistant for an economist please ask that person to write a letter focussing on your research skills and describe your experience – reference point 2 (above) of the research statement.
If not, please list any evidence you think would be valuable. Examples include but are not restricted to: experience working autonomously under stress without any guidance, demonstration of creativity in any form, experience of writing original research.
Fees and funding
Every research student is charged a fee in line with the fee structure for their programme. The fee covers registration and examination fees payable to the School, lectures, classes and individual supervision, lectures given at other colleges under intercollegiate arrangements and, under current arrangements, membership of the Students' Union. It does not cover living costs or travel or fieldwork.
Tuition fees 2024/25 for MRes/PhD Economics
Home students: £4,829 for the first year (provisional) Overseas students: £22,632 for the first year
The fee is likely to rise over subsequent years of the programme. The School charges home research students in line with the level of fee that the Research Councils recommend. The fees for overseas students are likely to rise in line with the assumed percentage increase in pay costs (ie, 4 per cent per annum).
The Table of Fees shows the latest tuition amounts for all programmes offered by the School.
The amount of tuition fees you will need to pay, and any financial support you are eligible for, will depend on whether you are classified as a home or overseas student, otherwise known as your fee status. LSE assesses your fee status based on guidelines provided by the Department of Education.
Further information about fee status classification.
Scholarships, studentships and other funding
The School recognises that the cost of living in London may be higher than in your home town or country, and we provide generous scholarships each year to home and overseas students.
This programme is eligible for LSE PhD Studentships , and Economic and Social Research Council (ESRC) funding . Selection for the PhD Studentships and ESRC funding is based on receipt of an application for a place – including all ancillary documents, before the funding deadline.
For the MRes/PhD Economics, the funding deadline is the same as the application deadline for the programme: 14 December 2023
The Economics Department also has a number of scholarship packages for direct entry MRes/PhD students. After the first year of the MRes/PhD Economics, there are teaching and research assistantships available in the Department. Read more about funding opportunities through the Economics Department .
In addition to our needs-based awards, LSE also makes available scholarships for students from specific regions of the world and awards for students studying specific subject areas. Find out more about financial support.
There may be other funding opportunities available through other organisations or governments and we recommend you investigate these options as well.
Fees and funding opportunities
Information for international students
LSE is an international community, with over 140 nationalities represented amongst its student body. We celebrate this diversity through everything we do.
If you are applying to LSE from outside of the UK then take a look at our Information for International students .
1) Take a note of the UK qualifications we require for your programme of interest (found in the ‘Entry requirements’ section of this page).
2) Go to the International Students section of our website.
3) Select your country.
4) Select ‘Graduate entry requirements’ and scroll until you arrive at the information about your local/national qualification. Compare the stated UK entry requirements listed on this page with the local/national entry requirement listed on your country specific page.
Programme structure and courses
Introductory course (mres).
In early September, before the academic year commences, you will begin your degree programme by taking the Introductory Mathematics and Statistics course.
First year (MRes)
In the first year of the programme you will take advanced core courses in microeconomics, macroeconomics and econometrics, to equip you with the theoretical knowledge and analytical techniques necessary for research. Permission must be obtained to sit Econometric Analysis as it is intended for students with a strong econometric background and an interest in pursuing a PhD with econometrics as the primary field.
Microeconomics for MRes students Introduces the basic analytical tools that are necessary to conduct research in any field in economics.
Macroeconomics for MRes students Covers topics in advanced macroeconomics with emphasis on fundamentals and applications to recent theoretical advances. Either Econometrics for MRes students Covers inference, classical and generalised linear regression, generalised regression methods, time-series, panel-data, and microeconometric methods, and specialised econometric methods. Or Econometric Analysis Gives an advanced treatment of the theory of estimation and inference for econometric models.
Second year (MRes)
In the second year, you will typically take two PhD field courses and write a research paper in your major field. Currently, there are economics PhD field courses covering: econometrics, international, labour, public, development, industrial, microeconomics, macroeconomics, political economy. In addition, there are PhD field courses offered in Corporate Finance and Asset Pricing. From the second year onwards, you will also participate in a departmental research seminar and a work in progress seminar allied to your major research field.
Research Paper in Economics A research paper, between 5,000 and 10,000 words, related to the student's designated major field, to be submitted mid-way through the Spring Term.
Two courses from a range of options
Upon successfully completing the MRes and progressing to the PhD, you will work on your research and write your PhD thesis. You will also take one further PhD field course. You will also attend Work in Progress seminars, where you present your research, as well as the weekly departmental seminar series closest to your major field.
One course from a range of options.
Second and subsequent years of the PhD programme
You will continue to work on your research and write a PhD thesis. You will also continue to attend Work in Progress seminars, where you present your research, as well as the weekly departmental seminar series closest to your major field.
For the most up-to-date list of optional courses please visit the relevant School Calendar page .
You must note, however, that while care has been taken to ensure that this information is up to date and correct, a change of circumstances since publication may cause the School to change, suspend or withdraw a course or programme of study, or change the fees that apply to it. The School will always notify the affected parties as early as practicably possible and propose any viable and relevant alternative options. Note that the School will neither be liable for information that after publication becomes inaccurate or irrelevant, nor for changing, suspending or withdrawing a course or programme of study due to events outside of its control, which includes but is not limited to a lack of demand for a course or programme of study, industrial action, fire, flood or other environmental or physical damage to premises.
You must also note that places are limited on some courses and/or subject to specific entry requirements. The School cannot therefore guarantee you a place. Please note that changes to programmes and courses can sometimes occur after you have accepted your offer of a place. These changes are normally made in light of developments in the discipline or path-breaking research, or on the basis of student feedback. Changes can take the form of altered course content, teaching formats or assessment modes. Any such changes are intended to enhance the student learning experience. You should visit the School’s Calendar , or contact the relevant academic department, for information on the availability and/or content of courses and programmes of study. Certain substantive changes will be listed on the updated graduate course and programme information page.
Supervision, progression and assessment
You will be assigned a lead supervisor (and a second supervisor/adviser) who is a specialist in your chosen research field, though not necessarily in your topic. Lead supervisors guide you through your studies.
Progression and assessment
In order to progress to each subsequent year of the programme, and to progress to PhD registration, you will need to meet specific progression requirements, such as achieving certain grades in your coursework.
Your final award will be determined by the completion of an original research thesis and a viva oral examination.
More about progression requirements
Student support and resources
We’re here to help and support you throughout your time at LSE, whether you need help with your academic studies, support with your welfare and wellbeing or simply to develop on a personal and professional level.
Whatever your query, big or small, there are a range of people you can speak to who will be happy to help.
Department librarians – they will be able to help you navigate the library and maximise its resources during your studies.
Accommodation service – they can offer advice on living in halls and offer guidance on private accommodation related queries.
Class teachers and seminar leaders – they will be able to assist with queries relating to specific courses.
Disability and Wellbeing Service – they are experts in long-term health conditions, sensory impairments, mental health and specific learning difficulties. They offer confidential and free services such as student counselling, a peer support scheme and arranging exam adjustments. They run groups and workshops.
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LSE Faith Centre – this is home to LSE's diverse religious activities and transformational interfaith leadership programmes, as well as a space for worship, prayer and quiet reflection. It includes Islamic prayer rooms and a main space for worship. It is also a space for wellbeing classes on campus and is open to all students and staff from all faiths and none.
Language Centre – the Centre specialises in offering language courses targeted to the needs of students and practitioners in the social sciences. We offer pre-course English for Academic Purposes programmes; English language support during your studies; modern language courses in nine languages; proofreading, translation and document authentication; and language learning community activities.
LSE Careers – with the help of LSE Careers, you can make the most of the opportunities that London has to offer. Whatever your career plans, LSE Careers will work with you, connecting you to opportunities and experiences from internships and volunteering to networking events and employer and alumni insights.
LSE Library – founded in 1896, the British Library of Political and Economic Science is the major international library of the social sciences. It stays open late, has lots of excellent resources and is a great place to study. As an LSE student, you’ll have access to a number of other academic libraries in Greater London and nationwide.
LSE LIFE – this is where you should go to develop skills you’ll use as a student and beyond. The centre runs talks and workshops on skills you’ll find useful in the classroom; offers one-to-one sessions with study advisers who can help you with reading, making notes, writing, research and exam revision; and provides drop-in sessions for academic and personal support. (See ‘Teaching and assessment’).
LSE Students’ Union (LSESU) – they offer academic, personal and financial advice and funding.
PhD Academy – this is available for PhD students, wherever they are, to take part in interdisciplinary events and other professional development activities and access all the services related to their registration.
Sardinia House Dental Practice – this offers discounted private dental services to LSE students.
St Philips Medical Centre – based in Pethwick-Lawrence House, the Centre provides NHS Primary Care services to registered patients.
Student Services Centre – our staff here can answer general queries and can point you in the direction of other LSE services.
Student advisers – we have a Deputy Head of Student Services (Advice and Policy) and an Adviser to Women Students who can help with academic and pastoral matters.
As a student at LSE you’ll be based at our central London campus. Find out what our campus and London have to offer you on academic, social and career perspective.
Student societies and activities
Your time at LSE is not just about studying, there are plenty of ways to get involved in extracurricular activities . From joining one of over 200 societies, or starting your own society, to volunteering for a local charity, or attending a public lecture by a world-leading figure, there is a lot to choose from.
LSE is based on one campus in the centre of London. Despite the busy feel of the surrounding area, many of the streets around campus are pedestrianised, meaning the campus feels like a real community.
Life in London
London is an exciting, vibrant and colourful city. It's also an academic city, with more than 400,000 university students. Whatever your interests or appetite you will find something to suit your palate and pocket in this truly international capital. Make the most of career opportunities and social activities, theatre, museums, music and more.
Want to find out more? Read why we think London is a fantastic student city , find out about key sights, places and experiences for new Londoners . Don't fear, London doesn't have to be super expensive: hear about London on a budget .
Hanwei Huang MRes/PhD Economics, 2018 China
I am a PhD student studying economics in the LSE. I am also affiliated with the Centre of Economic Performance (CEP), one of the largest research centres in the LSE. My main research interest is international trade.
One thing that I have learned from the faculties is that economics is not just about mathematics, it should answer interesting economics questions. Over the past few years in the LSE, I have been conducting a few research related to China. This is not surprising given my Chinese origin. Given the anti-globalization current that we have been witnessing, it is also quite relevant to the academic and policy circle to understand how China has become a global manufacturing power house and the champion of global trade.
My work features a close link between theory and empirics, another lesson I have learned in the LSE. My first piece of work done in the LSE focuses on the evolving structure of Chinese production and export. My second paper, which is a joint work with my supervisor Professor Ottaviano, studies how Chinese exporter producing multiple products respond to competition due to comparative advantage. My current research project studies how the domestic infrastructure construction boom that has been taking place in China has enabled China to make better use of globalization.
The most exciting part of LSE is that we are seated near the centre of the UK policy-making. I am fortunate enough to be able to be on a team from the CEP which has been studying various issues related to Brexit. It is only by doing this bit of work that I have seen how LSE research has shaped the debate in the media and the UK parliament.
As a one of the largest economics departments in the world, with numerous seminars and visitors every week, you bump into various people all the time. You might run into a workshop introducing machine learning. You might also hear people talking about big data in the Bean Counter, where we have our coffee. And I am very glad to be one of them here.
Stephan Maurer MRes/PhD Economics, 2017 Germany
I came to the LSE in 2011 after having completed my MSc in Economics at the Barcelona Graduate School of Economics. Already during my undergraduate studies in St. Gallen, I had gotten hooked to economics and to the idea of doing a PhD, and my time in Barcelona further confirmed this.
My research is in applied economics broadly, at the intersection of labour economics, political economy, and economic history. Economic history is for me both a tool and an end itself - I am interested in better understanding historical events, but I also frequently use exogenous variation provided by history to study questions in labour economics and political economy.
What I really like about research and the academic profession is that it offers a lot of freedom and allows me to work independently on a variety of issues. For example, I have studied determinants of city growth in Iron Age Europe, but also local economic effects of resource booms in the early 20 th century US South. I also enjoy teaching - during my time here, I have taught various courses and have found it very enriching. Being asked to explain concepts such that students can understand them often has deepened my own understanding. In this respect, I particularly enjoyed teaching in the MPA and MSc Programmes.
Research can also be frustrating. It involves a great deal of failed projects, ideas that do not materialize, and work that does not reap rewards. It is also very discontinuous - you can make great progress in few days, or feel like you’re banging your head against a wall for months. I was lucky to have two very dedicated supervisors to guide me through my PhD, helping me triage my ideas, strengthening my results by constantly questioning them, but also cheering me up when needed. My colleagues and friends at the LSE have also been a great help, not only but especially those from my cohort. Studying for the first year exams and going through the first research steps together has created a lot of cohesion and friendships that I am sure will continue to last for a long time.
After finishing my PhD, I will be joining the Department of Economics at the University of Konstanz as an Assistant Professor. I am very much looking forward to this new endeavour, but I will make sure to be back in London and at the LSE from time to time!
Readings are included in the respective course guides in the Calendar .
Quick Careers Facts for the Department of Economics
Top 5 sectors our students work in:
- Financial and Professional Services
- Education, Teaching and Research
- Government, Public Sector and Policy
- Advertising, Marketing, PR Media, Entertainment, Publishing and Journalism
The data was collected as part of the Graduate Outcomes survey, which is administered by the Higher Education Statistics Agency (HESA). Graduates from 2020-21 were the fourth group to be asked to respond to Graduate Outcomes.
Students who successfully complete the programme often embark on an academic career. See information on the placements of previous students on this programme .
Further information on graduate destinations for this programme
Starting from the second year of the MRes, students are encouraged to undertake some class teaching in the Department, as this represents useful professional training. Additional information about teaching in the Department .
Support for your career
Many leading organisations give careers presentations at the School during the year, and LSE Careers has a wide range of resources available to assist students in their job search. Find out more about the support available to students through LSE Careers .
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Discover more about being an LSE student - meet us in a city near you, visit our campus or experience LSE from home.
Experience LSE from home
Webinars, videos, student blogs and student video diaries will help you gain an insight into what it's like to study at LSE for those that aren't able to make it to our campus. Experience LSE from home .
Come on a guided campus tour, attend an undergraduate open day, drop into our office or go on a self-guided tour. Find out about opportunities to visit LSE .
LSE visits you
Student Marketing, Recruitment and Study Abroad travels throughout the UK and around the world to meet with prospective students. We visit schools, attend education fairs and also hold Destination LSE events: pre-departure events for offer holders. Find details on LSE's upcoming visits .
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Current Economics Ph.D. Courses
Mathematics and Statistics for Economists
6700 Survey of Mathematical Methods in Economics G 3
Core analytical methods and techniques routinely used in the first-year graduate courses in economic theory; topics include basic real analysis, convexity, constrained optimization, envelope theorems and their economics applications. Prereq: 4001.01, 4001.02, 4001.03, or 501A and graduate mathematics courses in vector calculus and elementary linear algebra. Not open to students with credit for 704, or 705.
6701 Survey of Statistical Methods in Economics G 3
Probability and statistical methods frequently used in economic analysis; topics include random variables, moment generating functions, limit theorems, expectations, multiple correlations,tests of significance and their economic applications.Prereq: Math 1152 (153), or equiv; or permission of instructor and economics director of graduate studies. Not open to students with credit for Stat 5201 (520), or 6801 (620), or 640, or 720.
7700 Mathematics for Economics I G 3
Mathematical concepts and techniques used in advanced economic research; real analysis;metric spaces; topology; measure and integration; convexity; separation theorems; contraction mapping; fixed point theorems; applications.Prereq: Permission of instructor and economics director of grad studies; primarily for PhD students in economics and related disciplines. Not open to students with credit for 700.
7701 Mathematics for Economics II G 3
Dynamic optimization methods and recursive methods that are frequently used in dynamic economic analysis. Prereq: Permission of instructor and economics director of graduate studies; primarily for PhD students in economics and related disciplines. Not open to students with credit for 701.
8711 Microeconomic Theory IA G 3
Rigorous survey of the neoclassical paradigm dealing with individual economic agents, firms and markets; covers core concepts and methods such as equilibrium, optimality, duality, comparative statics and envelope theorems. Prereq: Grad standing in Econ, or related discipline with permission of Economics Director of Grad Studies. Not open to students with credit for 804.
8712 Microeconomic Theory IB G 3
Continuation and extension of Microeconomic Theory 1A to study competitive general equilibrium, optimality and welfare theorems; includes analysis of individual agents' behavior under uncertainty and markets subject to asymmetric information.Prereq: 8711 (804), or equiv, and permission of Economics Director of Grad Studies. Not open to students with credit for 805.
8713 Microeconomic Theory IIA G 3
Rigorous introduction to game theoretic methods and concepts and their applications to study strategic interactions in economic organizations, including imperfectly competitive markets and economies with public goods and externalities.Prereq: 8711 (804), or 8712 (805), or equiv with permission of economics director of gradstudies. Not open to students with credit for 808.
8714 Microeconomic Theory IIB G 3
A theoretical treatment of information economics and mechanism design; topics include implementation, dominant strategy mechanism, Bayesian mechanism design, adverse selection, moral hazard, social choice and auctions.Prereq: 8713 (805), or equiv, and permission of Economics Director of Graduate Studies. Notopen to students with credit for 808.
8721 Macroeconomic Theory IA G 3
A rigorous introduction to modern macroeconomic analysis and models of economic growth with emphasis on dynamic competitive equilibrium analysis: topics include dynamic programming applied to stochastic environments.Prereq: Grad standing, and permission of Economics Director of Grad Studies. Not open to students with credit for 806.
8722 Macroeconomic Theory IB G 3
Continuation of 8721 with recent developments in macro and monetary economics; topics include business cycles, endogenous growth, equilibrium unemployment and risk sharing in incomplete markets. Prereq: 8721 (806), or equiv, and permission of Economics Director of Grad Studies. Not open to students with credit for 807.
8723 Macroeconomic Theory IIA G 3
Continuation of Macroeconomic Theory IA-IB with emphasis on dynamic general equilibrium models with shocks and frictions and their empirical assessment.Prereq: 8722 (806), or equiv, and permission of Economics Director of Grad Studies. Not opento students with credit for 807 or 809.
8724 Macroeconomic Theory IIB G 3
Micro foundations of aggregate demand from the perspective of dynamic optimization; topics also include permanent income, lifetime portfolio choice, Q-theory of investment, consumption CAPM, term structure and long term risk. Prereq: 8723, or 806 and 807, or equiv, and permission of Economics Director of Grad Studies. Not open to students with credit for 809.
8731 Econometrics I G 4
Probability; random variables; sampling distributions; limit theorems; point and interval estimation; statistical hypothesis testing; multiple regression analysis in the linear model including finite-sample and asymptotic statistical properties. Prereq: 670 (640), or Stat 5201 (521), or equiv with permission of economics director of grad studies. Not open to students with credit for 640, 740, 741, or 742.
8732 Econometrics II G 4
Generalized least squares; specification tests; generalized method of moments; endogenous regressors and simultaneous equation systems; panel data; nonlinear estimation; discrete and limited dependent variable models; and basic time-series analysis. Prereq: 8731 (740, 741) or equiv with permission of economics director of grad studies. Not open to students with credit for 640, 740, 741, and 742.
8733 Econometrics III G 3
Continuation of Economics 8731 and 8732 with an emphasis on applications of econometric theory and methods, including the use of advanced econometric software to various fields of economics. Prereq: Econ 8731 and 8732, or equiv with permission of instructor. Not open to students with credit for 640, 740, 741, and 742.
8830 Advanced Econometrics I G 3
Fundamental elements of time series methods and recently developed techniques for the analysis of economic time series. Prereq: 8732 (742), or equiv with permission of instructor. Not open to students with credit for 840.
8831 Advanced Econometrics II G 3
Selected advanced topics in econometrics - such as nonparametric and semi parametric estimation, numerical optimization, simulation methods - including Markov chain Monte Carlo methods and duration models used in economics. Prereq: 8732 (742) or equiv with permission of instructor. Not open to students with credit for 841.
8832 Advanced Econometrics III G 3
Theory and applications of advanced econometric methods with emphasis on parameter estimation and testing in nonlinear models. Topics include: large sample theory, extremum estimators, likelihood approach, and the GMM framework. Prereq: 8732 (742) or equiv with permission of instructor. Not open to students with credit for 842.
8833 Micro Econometrics G 3
Recent advances in micro econometrics, covering both theoretical and applied areas, with emphasis varying with instructor’s research interest such as spatial econometrics and social interaction models. Prereq: Econ 8732 (742), Econ 8831 (841), and Econ 8832 (842), or equiv, or permission of instructor. Not open to students with credit for 843. Repeatable to a maximum of 12 credit hrs.
8834 Advanced Time Series Econometrics G 3
Rigorous treatment of time-series analysis using recent techniques and concepts. Major topics: stationary and non-stationary time series, co-integration and their economic applications. Course topics will vary with instructor's research interest. 8830 (840) is recommended. Prereq: 732, or 734, or equiv with permission of instructor. Not open to students with credit for 844. Repeatable to a maximum of 12 credit hrs.
Field: Macro-Monetary Economics
8821 Advanced Macroeconomics I G 3
Recent contributions to macro-monetary economics in theoretical, empirical and policy areas; topics include computational methods, econometric techniques, dynamic modeling and empirical assessment. Prereq: 8724 (809), or permission of instructor. Not open to students with credit for 810.
8822 Advanced Macroeconomics II G 3
Studies roles of preferences, technology, endowments, and market structures to determine the behavior of aggregate variables. Topics include: dynamic stochastic general equilibrium,rational expectations, business cycles, and propagation mechanisms.Prereq: 8732 (742), or 8724 (809), or permission of instructor. Not open to students with credit for 811.
8823 Advanced Macroeconomics III G 3
Studies the macroeconomic implications of discrete decisions by heterogeneous agents andassesses quantitative DSGE models. Topics include: lumpy adjustments, non-convexadjustment costs, and the interactions of real and financial frictions.Prereq: 724, or 809, or permission of instructor. Not open to students with credit for 820.
8824 Monetary Economics G 3
Develops monetary economics as a research field and covers a range of topics in the theoretical, empirical, and policy aspects of money, credit, and banking. S/U grade option available only with permission of Grad studies director for Econ. Prereq: 724 or 809, or permission of instructor. Not open to students with credit for 821.
8825 Advanced Macroeconomic Methods G 3
Develops numerical methods for dynamic stochastic general equilibrium models with heterogeneity and non-convexities. Applications include: models of households with uninsurable risk and borrowing constraints, and firms with adjustment costs. Prereq: 724 or 809, or permission of instructor. Not open to students with credit for 816.
Field: International Economics
8861 International Economics I G 3
Theory and empirics of the determinants of trade, analysis of comparative advantage, trade patterns, gains from trade, commercial policies on resource allocations, income distribution and growth. Prereq: 8712 (804, 805). Not open to students with credit for 861.
8862 International Economics II G 3
Theory and empirics of international macroeconomics. Topics include: open-economy business cycles, determinants of exchange rates, international capital flows and resource allocations, financial constraints, and computational and estimation methods. Prereq: 8712 (804, 805) 8722 (806, 807); and 8861 (861) recommended. Not open to students with credit for 862.
8863 International Economics III G 3
Evolution of world economy from theoretical and empirical perspectives; trade; growth and development; international capital markets; financial crises and sovereign default; international business cycle transmissions. Prereq: 8712 (804, 805), and 8722 (806, 807); and 8862 (862) recommended. Not open to students with credit for 863.
Field: Labor Economics
8851 Labor Economics I G 3
Theoretical and empirical methods used to understand life-cycles and interpersonal variations in earnings. Topics include: human capital, job-market signaling, matching, schooling, and mobility. Prereq: 8712 (804, 805), and 8731 (741), or equiv with permission of instructor. Not open to students with credit for 883.
8852 Labor Economics II G 3
Theories and empirical analysis of the demand for labor and changes in the wage structure over time; the determinants of youth outcomes and behaviors including the effect of family and peer groups. Prereq: 8712 (804, 805) , and 8731 (741), or equiv with permission of instuctor; 8851 (883) recommended. Not open to students with credit for 884.
8853 Labor Economics III G 3
An examination of models and methods used to study household labor supply behavior. Topics include: retirement, the determinants of child outcomes, and demographic behavior. 8852 (884) is recommended. Prereq: 8851 (883). Not open to students with credit for 981.
Field: Industrial Organization
8871 Industrial Organization I G 3
A survey of theoretical concepts used to analyze industry structure, firm conduct, market performance and related issues of public policy; topics include recent developments in the theory of the firm as well as models of competition and rivalry. Prereq: 8713 (805, 808). Not open to students with credit for 871.
8872 Industrial Organization II G 3
A survey of empirical methods used to analyze industry structure, firm conduct, market performance and related issues of public policy. Prereq: 8871 (871), and 8732 (742); or permission of instructor. Not open to students with credit for 872.
8874 Computational Econometric Methods in Applied Microeconomics G 3
This course covers computational methods used in applied microeconomic research, with particular focus on applications to the estimation and analysis of structural discrete choice models used in the study of empirical industrial organization. Prereq: 8711 and 8731.
Field: Experimental Economics
8817 Advanced Economic Theory II G 3
Thorough treatment of major developments in game theory and a survey of major applied game theory topics such as mechanism design, bargaining, and oligopoly. Prereq: 8714 (808) or equiv with permission of instructor. Not open to students with credit for 817.
8873 Industrial Organization III: Economic Analysis of Auctions G 3
A survey of auction theory, experiments, and empirics; topics include private and common value auctions, multi-unit demand auctions, sequential and simultaneous auctions, and related research material. Prereq: 8714 (808), or equiv, and permission of instructor.
8875 Experimental & Behavioral Economics G 3
A survey of concepts and methods in experimental and behavioral economics for advanced graduate students; topics include impacts of heuristics and biases on "rational" behavior, other regarding preferences, bargaining, public goods and market design. 8873 (970) recommended. Prereq: 8714 (808), 804, or 805, or equiv, and permission of instructor.
Field: Economic Theory
8816 Advanced Economic Theory I G 3
A topic-driven course in advanced microeconomic theory, game theory and decision theory, and their theoretical applications with emphasis on important recent results. Prereq: 8714 (808), or equiv with permission of instructor. Not open to students with credit for 815.
8818 Advanced Economic Theory III G 3
Theoretical approaches to economics of information; how information affects individual behavior and market equilibrium; moral hazard; adverse selection; incomplete contracts; rational expectations; and principal-agency models. Prereq: 8714 (808), or equiv with permission of instructor. Not open to students with credit for 818.
8819 Economics of Uncertainty G 3
Classical and modern approaches to decision-making and economic behavior under uncertainty; classical expected utility; subjective probability; behavioral theory of economic choice under uncertainty. S/U option available only with permission of Grad studies director for Econ. Prereq: 8714 (808) or equiv, or permission of instructor. Not open to students with credit for 819.
Field: Economic History
5130 Economic History of Western Europe U G 4
Survey of economic development of Europe from pre-industrialization to current globalization. Emphasis on critical analysis of long-run factors in economic growth. Prereq: 2450 (245), 4400 (444), or 5410 (641), and 4001.01 (501.01), 4001.02 (501.02), or4001.03, and 4002.01 (502.01), 4002.02 (502.02), or 4002.03, or equiv; or Grad standing. Not open to students with credit for 614.
5140 Economic History of the United States U G 4
General survey from discovery of America to present; European economic background; westward movement and its effects; development of economic institutions in the United States. Prereq: 4400 (444), 5410 (641), 4001.01 (501.01), 4001.02 (502.02), 4001.03, and 4002.01 (502.01), 4002.02 (502.02), or 4002.03, or Stat 2450 (245), or equiv; or Grad standing. Not open to students with credit for 613.
5150 Economic Transitions in the 20th Century U G 4
General survey of economic aspects of developing economies. Transitions from central planning to markets and from underdevelopment to industrialization in the twentieth century are emphasized. Prereq: 4400 (444), 5410 (641), or Stat 2450 (245), and 4001.01 (501.01), or 4001.02 (501.02), or 4001.03, and 4002.01 (502.01), 4002.02 (502.02), or 4002.03 or equiv; or permission of instructor. Not open to students with credit for 615.
Seminars, Workshops and Colloquia
8891.01 Economic Theory Seminar G 1-3
Latest developments in advanced research in general economic theory, game theory and related fields. Prereq: 8714 (808), and permission of instructor. Not open to students with credit for 915. Repeatable to a maximum of 36 cr hrs or 12 completions. This course is graded S/U.
8891.02 Workshop in Economic Theory G 1-2
Forum to report and discuss the latest research results by graduate students, faculty members, and outside speakers in general economic and game theory. Prereq: 8714 (808), and permission of instructor. Repeatable to a maximum of 24 cr hrs or 12 completions. This course is graded S/U.
8891.03 Colloquium in Economic Theory G 1-3
A supervised workshop in which advanced graduate students report their latest research in progress on the themes chosen by the colloquium instructor in advanced theory and related fields. Open to students who have completed PhD field courses approved by economics director of graduate studies. Prereq: Permission of instructor and economics director of graduate studies. Repeatable to a maximum of 16 cr hrs or 8 completions.
8892.01 Macroeconomics Seminar G 1-3
Latest developments in advanced research in macro-monetary economics and related fields. Prereq: 8724 (809), and permission of instructor. Not open to students with credit for 920. Repeatable to a maximum of 36 cr hrs or 12 completions. This course is graded S/U.
8892.02 Workshop in Macroeconomics G 1-2
Forum to report and discuss the latest research results by graduate students, faculty members and outside speakers in macro-monetary economics and related fields. Prereq: Econ 8724 (809), and permission of instructor. Repeatable to a maximum of 24 cr hrs or 12 completions. This course is graded S/U.
8892.03 Colloquium in Macroeconomics G 1-3
A supervised workshop in which advanced graduate students report their latest research in progress on the themes chosen by the colloquium instructor in macroeconomics and related fields. Open to students who have completed PhD field courses approved by economics director of graduate studies. Prereq: Permission of instructor and economics director of graduate studies. Repeatable to a maximum of 16 cr hrs or 8 completions.
8893.01 Econometrics Seminar G 1-3
Latest developments in advanced research in econometrics and related fields. Prereq: 8732 (741 and 742), and permission of instructor. Not open to students with credit for 940. Repeatable to a maximum of 36 cr hrs or 12 completions.
8893.02 Workshop in Econometrics G 1-2
Forum to report and discuss the latest research results by graduate students, faculty members and outside speakers in econometrics and related fields. Prereq: 8732 (741 and 742), and permission of instructor. Repeatable to a maximum of 24 cr hrs or 12 completions. This course is graded S/U.
8893.03 Colloquium in Econometrics G 1-3
A supervised workshop in which advanced graduate students report their latest research in progress on the themes chosen by the colloquium instructor in econometrics and related fields. Open to students who have completed PhD field courses approved by economics director of graduate studies. Prereq: Permission of instructor and economics director of graduate studies. Repeatable to a maximum of 16 cr hrs or 8 completions.
8894.01 Applied Microeconomics Seminar G 1-3
Latest developments in advanced research in applied microeconomics fields. Prereq: 8714 or 808, and permission of instructor. Not open to students with credit for 970 or 981. Repeatable to a maximum of 36 cr hrs or 12 completions.
8894.02 Workshop in Applied Microeconomics G 1-2
Forum to report and discuss the latest research results by graduate students, faculty membersand outside speakers in applied microeconomics fields.Prereq: 8714 (808), and permission of instructor. Repeatable to a maximum of 24 cr hrs or 12 completions. This course is graded S/U.4.
8894.03 Colloquium in Applied Microeconomics G 1-3
A supervised workshop in which advanced graduate students report their latest research in progress on the themes chosen by the colloquium instructor in applied microeconomics and related fields. Open to students who have completed PhD field courses approved by economics director of graduate studies. Prereq: Permission of instructor and economics director of graduate studies. Repeatable to a maximum of 16 cr hrs or 8 completions.
Individual and Group Studies
6193 Individual Studies G 1-4
Supervised and individually designed studies for pre-qualifier graduate students in economics or graduate students in non-economics graduate programs. Prereq: Permission of instructor. Not open to students with credit for 893. Repeatable to a maximum of 20 cr hrs or 5 completions. This course is graded S/U. Letter Grade option available only with approval of economics director of graduate studies.
7193 Individual Studies G 1-4
Supervised and individually designed readings in economics for postqualifier students in economics or graduate students in noneconomic graduate programs. Prereq: Open to students who completed the first-year graduate PhD core course curriculum and with permission of instructor. Not open to students with credit for 893. Repeatable to a maximum of 2 cr hrs or 5 completions. This course is graded S/U. Letter Grade option available only with approval of economics director of graduate studies.
8193 Individual Studies G 1-4
Supervised and individually specialized studies for PhD students who have finished regular course work in their economics PhD program. Letter grade option available only with approval of economics director of graduate studies. Prereq: Permission of instructor. Repeatable to a maximum of 44 cr hrs. This course is graded S/U.
8194 Group Studies G 1-4
Advanced new course material in economics offered to complement existing PhD courses. Prereq: Grad standing in Econ or related field, and permission of instructor and Grad studies director for Econ. Not open to students with credit for 894. Repeatable to a maximum of 44 cr hrs or 11 completions.
8999 Dissertation Research G 1-3
Dissertation research in economics. Prereq: Doctoral candidate in Economics. Repeatable to a maximum of 60 cr hrs or 20 completions. This course is graded S/U.
Graduate Minor Core
6711 Survey of Microeconomics G 4
Methodology and scope of the neo-classical microeconomics paradigm; topics include the theory of competitive firms and consumers, general equilibrium, Pareto optimum, welfare theorems, non-competitive markets, uncertainty and asymmetric information. Prereq: 4001.01 or 501A, or equiv, and permission of economics director of graduate studies. Not open to students with credit for 8711 (804), 8712 (805), 704, or 705.
6721 Survey of Macroeconomics G 4
Survey of macroeconomics fluctuations, business cycles and economic growth, including Keynesian, monetarist and real business cycle models; topics also include money and banking, unemployment, inflation and endogenous economic growth. Prereq: 4002.01 (502) or equiv with permission of instructor and economics director of graduate studies. Not open to students with credit for 8721 (806), or 8722 (807) or 706, or 707.
6731 Survey of Econometric Methods I G 3
Survey of fundamental methods and applications of econometrics with an emphasis on linear regression and its applications to a range of economic topics taken from various microeconomic fields. Prereq: Stat 2450 (245), and Math 2168.02, or 571, or equiv with permission of instructor and economics director of grad studies. Not open to students with credit for 8731 (740), or 8732 (741), or 8733 (742), or 702.
6732 Survey of Econometric Methods II G 3
Survey of econometric methods in time series and panel data with an emphasis on empirical examples in micro and macro economics; topics include GMM, time series models, VAR, cointegration, fixed and random effects and duration models. Prereq: 6731 (702), or equiv with permission of instructor and economics director of grad studies. Not open to students with credit for 8731 (740), or 8732 (741), or 8733 (742), or 703.
Summary Table of Semester Course Descriptions
PhD Course Offerings
To view the Schedule of Classes, please visit Course Search and Enroll for full details and an online listing of course sections offered each term.
Fall 2022 Courses:
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Economics 703 - Mathematical Economics
A survey of mathematical techniques used in economic analysis. Linear algebra and optimization techniques are emphasized.
Lecture 001: W 5:30 – 8:00 pm | Instructor: Raymond Deneckere
Economics 709 - Econ Stats and Econometrics I
Probability distributions, statistical inference; multiple linear regression; introduction to econometric methods. Enroll Info: It is expected that students will have completed three semesters calculus (such as MATH 234) and linear algebra (such as MATH 340).
Lecture 001: MW 11:00 – 12:15 pm | Instructors: Jack Porter & Xiaoxia Shi
Economics 711 - Economic Theory- Microeconomics Sequence
First course in a two-semester sequence: theories of firms, consumers, and markets; or partial and general equilibria in market and centralized economies; topics in welfare economics. Enroll Info: It is expected that students will have completed three semesters calculus (such as MATH 234) and linear algebra (such as MATH 340).
Lecture 001: TuTh 1:00 – 2:15 pm| Instructors: Matteo Camboni
Economics 712 - Economic Theory- Macroeconomics Sequence
First course in a two semester sequence: commodity, money and labor markets, their components and general equilibrium; intertemporal optimization and growth theory. Enroll Info: It is expected that students will have completed three semesters calculus (such as MATH 234) and linear algebra (such as MATH 340).
Lecture 001: MW 1:00 – 2:15 pm | Instructors: Dean Corbae & Rishabh Kirpalani
Economics 715 - Econometrics Methods
Nonlinear econometric theory.
Lecture 001: MW 1:00 – 2:15 pm | Instructors: Jack Porter & Xiaoxia Shi
Economics 736 - Macroeconomic Policy
Theoretical, empirical, and institutional aspects of the use of monetary, fiscal, and income policies to affect inflation, unemployment, and other policy goals.
Lecture 001: W 5:30-8:00 pm | Instructors: Rishabh Kirpalani & Ananth Seshadri
Economics 741 - Public Finance & Fiscal Policy
Theoretical development of the functions of government in a mixed economy; welfare criteria for efficient government expenditures and taxation; nature of public goods and of redistribution activities of governments. Program budgeting and theoretical issues in cost-benefit analysis
Lecture 001: MW 11:00 – 12:15 pm | Instructors: Martin O’Connell & Jeff Smith
Economics 750 - Labor Economics
Theoretical and empirical analysis of labor markets, labor mobility, the determination of earnings and employment, and labor supply of the household unit; emphasizes recent research on current issues in public policy.
Lecture 001: TuTh 5:30 – 7:30 pm | Instructors: John Kennan
Economics 761 - Industrial Organization Theory
A review of theories of the firm, oligopoly, and imperfect competition. Includes applications of economic theory and game theory to agency theory, product diversity, technological change, and strategic behavior by firms–among other problems.
Lecture 001: TuTh 1:00 – 2:15 pm | Instructors: Ken Hendricks & Lorenzo Magnolfi
Economics 805 - Advanced Microeconomic Theory I
Economic behavior under uncertainty; measure of risk, information structure, stock market and asset pricing, insurance theory, asymmetric information and incentive mechanisms.
Lecture 001: TuTh 11:00 – 12:15 pm | Instructor: Matteo Camboni
Economics 871 - Adv International Economics
General equilibrium algebraic and geometric modeling of open economies with balanced trade, and the welfare economics of international exchange and barriers thereto.
Lecture 001: MW 11:00 am – 12:15 pm | Instructor: Kim Ruhl
Economics 899 - Topics in Computational Economics
Topics in Computational Economics
Lecture 001: MW 9:30 – 10:45 am | Instructor: Dean Corbae & Jean-François Houde
Economics 899 - Research in Applied Microeconomics
Research in Applied Microeconomics
Lecture 002: T 9:30 – 10:45 am | Instructor: Jesse Gregory & Lorenzo Magnolfi
Economics 899 - Research in Macro & International Economics
Research in Macro & International Economics
Lecture 003: W 4:00 – 5:15 pm | Instructor: Kenneth West & Job Boerma
Economics 901 - Workshop in Mathematical Economic Theory
Critical discussion of topics in the field of economic theory.
Seminar 001: F 3:45-5:15 pm
Economics 903 - Workshop on Industrial Organization
Current research on the operation of markets in which individuals and firms act with imperfect information, are limited in their responses, may purchase heterogeneous commodities or factor services, and are concerned with conflicting goals.
Seminar 001: W 3:45-5:00 pm
Economics 913 - Workshop in Econometrics
Current research in econometric model building, estimation and inference in econometrics.
Seminar 001: F 1:30-2:45 pm
Economics 955 - Workshop in Labor Economics
Analysis of current research in wage determination and the functioning of labor markets.
Seminar 001: M 3:45-5:15 pm
Economics 965 - Workshop on Quant Macro-Economic Analysis
Current research on macroeconomic models, monetary theory and policy, the theory of portfolio selection, and the allocative and distributive performance of capital markets.
Seminar 001: Th 3:45-5:15 pm
Economics 968- Workshop on Public Economics
Individual research and group discussion of public expenditure programs with attention to investment in human capital, education, training, health information, and welfare programs. Reports on research in progress by students, staff, visiting scholars.
Seminar 001: Tu 3:45-5:30 pm
Economics 977- Workshop in International Economics
Current research in international trade; a wide range of topics in theory, quantitative analysis, statistics, and policy. For graduate students in their second or later years when working on theses.
Seminar 001: Tu 4:00-5:45 pm
Spring 2022 Courses: All classes are in-person.
Economics 710- Econ Stats and Econometrics II
Extensions of the linear regression model; introduction to multiple equation models.
Lecture 001: MW 11:00 – 12:15 pm | Instructors: Mikkel Soelvsten & Bruce Hansen
Sections: 3:30 – 4:20 R 9:55 – 10:45 F 11:00 – 11:50 F
Credits: 3 – 4
Economics 713: Economic Theory: Microeconomics Sequence
Second course in a two-semester sequence: the theory of market, their efficiency properties, externalities, and the role of prices, and an introduction to the economics of information, including moral hazard and adverse selection.
Requisites : ECON 711
Lecture 001: TR 1:00 – 2:15 pm | Instructors: Raymond Deneckere & Lones Smith
Sections: 8:50 – 9:40 F 12:05 – 12:55 F 1:20-2:10 F
Economics 714: Economic Theory: Macroeconomics Sequence
Second course in a two-semester sequence. Topics include: asset pricing; fiscal and monetary policy; mechanism design, estimation and calibration of business cycle models.
Requisites : ECON 712
Lecture 001: MW 1:00 – 2:15 pm | Instructors: Rishabh Kirpalani & Paolo Martellini
Sections: 1:20-2:10 F 3:30-4:20 F 2:25-3:15 F
Economics 716: Econometric Methods
Advanced econometric theory.
Requisites : Graduate/professional standing
Lecture 001: MW 1:00 – 2:15 | Instructors: Mikkel Soelvsten & Bruce Hansen
Economics 717: Applied Econometrics
Applied cross section and panel methods.
Lecture 001: MW 11:00-12:15 | Instructors: Jeff Smith & Matthew Wiswall
Economics 735: Monetary and Financial Theory
Advanced appraisal of theory and institutions of the financial system, monetary theory, the credit system and financial intermediaries.
Lecture 001: M 5:30 – 8:30 pm | Instructor: Randall Wright
Economics 742: Advanced Public Economics
Incidence of tax burdens and expenditure benefits on relative incomes; effect of taxation on microeconomic decisions relating to work effort, investment, and consumption; analysis of the stabilization, growth, and debt management policies in the context of the economy as a whole; problems in international taxation.
Lecture 001: MW 2:30-3:45 | Instructors: Jesse Gregory & Martin O’Connell
Economics 751: Survey Of Institutional Aspects Of Labor Economics
Taught on a modular basis: Labor Theories and Labor History; Union Political Activities; Collective Bargaining and Public Policy. For use in analysis of problems in areas of labor markets, wages and human resources.
Lecture 001: T: 5:30-8:00; R 5:00 – 7:00 pm | Instructors: Chao Fu & Rasmus Lentz
Economics 762: Empirical Analysis Of Industrial Organization And Public Policy
A study of measurement in industrial organization and a survey of empirical tests of hypotheses in the field. The theory and practice of antitrust is also covered. Each student will produce an original piece of research.
Lecture 001: TR 2:30 – 3:45 pm | Instructors: Christopher Sullivan & Alan Sorensen
Economics 810: Advanced Macroeconomic Theory
Topics in Macroeconomic Research
Lecture 001: MW 9:30-10:45 | Instructors: Carter Braxton & Noah Williams
Economics 872: Advanced International Economics
Algebraic and geometric modeling of open macroeconomics with unbalanced trade and payments, focussing analytically on the foreign exchange market and the determinants of the exchange rate.
Lecture 001: MW 4:00-5:15 | Instructors: Louphou Coulibaly & Charles Engel
Economics 899-1: Topics in Economics
Requisites : Third year Econ PhD student
Lecture 001: W 9:30-10:45| Instructors: JF Houde & Matt Wiswall
Economics 899-2: Topics in Economics
Research in Macroeconomics and International Economics
Lecture 001: W 4:00-5:15| Instructors: Rishabh Kirpalani & Ken West
Economics 902- Workshop in Mathematic Economic Theory
F 3:45-5:15 pm
Economics 904- Workshop on Industrial Organization
W 3:45-5:30 pm
Economics 914- Workshop in Econometrics
F 1:20-3:20 pm
Economics 956- Workshop on Labor Economics
M 3:45-5:15 pm
Economics 966- Workshop on Quantitative Macroeconomic Analysis
R 3:45-5:15 pm
Economics 969- Workshop on Public Economics
Tu 3:45-5:30 pm
Economics 978- Workshop in International Economics
The Ph.D. program is a full time program leading to a Doctoral Degree in Economics. Students specialize in various fields within Economics by enrolling in field courses and attending field specific lunches and seminars. Students gain economic breadth by taking additional distribution courses outside of their selected fields of interest.
Students are required to complete 1 quarter of teaching experience. Teaching experience includes teaching assistantships within the Economics department or another department .
University's residency requirement
135 units of full-tuition residency are required for PhD students. After that, a student should have completed all course work and must request Terminal Graduate Registration (TGR) status.
Department degree requirements and student checklist
1. core course requirement.
Required: Core Microeconomics (202-203-204) Core Macroeconomics (210-211-212) Econometrics (270-271-272). The Business School graduate microeconomics class series may be substituted for the Econ Micro Core. Students wishing to waive out of any of the first year core, based on previous coverage of at least 90% of the material, must submit a waiver request to the DGS at least two weeks prior to the start of the quarter. A separate waiver request must be submitted for each course you are requesting to waive. The waiver request must include a transcript and a syllabus from the prior course(s) taken.
2. Field Requirements
Required: Two of the Following Fields Chosen as Major Fields (click on link for specific field requirements). Field sequences must be passed with an overall grade average of B or better. Individual courses require a letter grade of B- or better to pass unless otherwise noted.
Research fields and field requirements :
- Behavioral & Experimental
- Development Economics
- Econometric Methods with Causal Inference
- Economic History
- Environmental, Resource and Energy Economics
- Industrial Organization
- International Trade & Finance
- Labor Economics
- Market Design
- Microeconomic Theory
- Political Economy
- Public Economics
Required: Four other graduate-level courses must be completed. One of these must be from the area of economic history (unless that field has already been selected above). These courses must be distributed in such a way that at least two fields not selected above are represented. Distribution courses must be passed with a grade of B or better.
4. Field Seminars/Workshops
Required: Three quarters of two different field seminars or six quarters of the same field seminar from the list below.
- Department of Economics
- PhD Programme
The PhD students take half a year’s worth of PhD courses beyond the master's degree requirement. These courses provide specialised knowledge about the dissertation topic as well as generic competencies within research, teaching and knowledge dissemination. The courses can be of shorter or longer duration, and can be offered in direct connection with the programme, by the Graduate School, by national and international graduate schools, or by other relevant higher education institutions.
For some years, the large majority of PhD courses have been offered by the two national graduate schools within the fields of Economics and Finance. These two schools are characterized by offering courses of high academic standard, covering broader foundational courses taught by the best Danish researchers as well as narrower topics courses drawing on leading Danish and international researchers. Each school offers many courses in its respective field to nicely meet the PhD students’ course demand.
- PhD courses offered at the Department of Economics
- Copenhagen Graduate School of Social Sciences
Year after year, our top-ranked PhD program sets the standard for graduate economics training across the country. Graduate students work closely with our world-class faculty to develop their own research and prepare to make impactful contributions to the field.
Our doctoral program enrolls 20-24 full-time students each year and students complete their degree in five to six years. Students undertake core coursework in microeconomic theory, macroeconomics, and econometrics, and are expected to complete two major and two minor fields in economics. Beyond the classroom, doctoral students work in close collaboration with faculty to develop their research capabilities, gaining hands-on experience in both theoretical and empirical projects.
How to apply
Students are admitted to the program once per year for entry in the fall. The online application opens on September 15 and closes on December 15.
Meet our students
Our PhD graduates go on to teach in leading economics departments, business schools, and schools of public policy, or pursue influential careers with organizations and businesses around the world.
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The graduate economics program at Penn is a Ph.D. program administered by the Graduate Group in Economics, which consists of the faculty of the Department of Economics, and some of its secondary appointments in the Wharton School and the School of Arts and Sciences. A master's program in Economics is not offered at the University of Pennsylvania.
The program trains students to conduct outstanding research in economics. All major areas of economics are covered, with particular strengths in theoretical and empirical microeconomics, and in modern macroeconomics. Graduates of the program obtain positions at leading universities, research institutions, and government agencies around the world.
Students in this program first acquire a thorough knowledge of economic theory and econometric methods before they begin their own research. They meet a series of requirements during their first years in the program, and thereafter devote most of their time to the writing of a dissertation. The median length of time required for completion is 5.25 years (however both shorter and longer periods are possible). Almost all students are supported by combinations of fellowships, research assistantships, and teaching assistantships during at least their first five years of study.
For more information: http://economics.sas.upenn.edu/graduate
View the University’s Academic Rules for PhD Programs .
A minimum of 16 course units are required. A minimum of 12 course units must be taken at the University of Pennsylvania.
The degree and major requirements displayed are intended as a guide for students entering in the Fall of 2023 and later. Students should consult with their academic program regarding final certifications and requirements for graduation.
Sample Plan of Study
By the end of the 3rd year in residence, students must have passed four 7000-level ECON courses (excluding 7100, 7110, 7200, 7210, 7300, 7310, 8100, 9110, 9200, 9300, 9400 and 9450, the workshops) with a grade of A- or higher. Credits must total 16 before going on dissertation status.
The Empirical requirement is often fulfilled after students finish taking the four upper level courses requirement.
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