Ph.D. Program

The Ph.D. program in economics emphasizes analytical and quantitative skills and exposes students to a broad range of contemporary policy issues to prepare them for careers in academic, business, or government careers. In their first two semesters of study, students receive rigorous training in three core areas: microeconomics, macroeconomics and econometrics.

After completing the core sequences, students choose three fields of specialization for intensive study. For most students, work on the dissertation begins in the third year and occupies them through the fourth or fifth year of residence.

Core Courses

The core courses form an integrated sequence of courses that develop the theoretical and quantitative tools students will build on later in their careers. These courses include two semesters of microeconomics, macroeconomics, and econometrics.

An undergraduate major in economics is not a requirement, but students are expected to have taken some economics courses, including at least intermediate theory courses. Students should also have a solid background in mathematics. The recommended math courses are calculus, linear algebra, and mathematical statistics, but more math is generally considered better. A master's degree is not required for admission to the Ph.D. program, nor for completing the Ph.D. degree.

Field Courses

After a highly structured first two semesters, students have more choice as they select three areas of specialization. The field courses are intended to broaden and deepen the students' understanding of economics and to encourage students to develop more specific interests. The Fields and Courses Include:

Advanced Theory: Econ 689, Econ 689
Behavioral and Experimental Economics: Econ 655, 659
Econometrics: Ecmt 677, 678, 679
Financial Economics: Econ 689, Econ 689
Human Resources: Econ 609, 610
Industrial Organization: Econ 649, 650
International Economics: Econ 651, 652
Monetary Theory: Econ 635, 637
Public Economics: Econ 603, 604

Workshops

Beginning in the third year and extending through the fifth year of residence, students participate in departmental workshops. Workshops are commonly offered in theory, macro/money/international, applied micro, and econometrics. The workshops are designed to acquaint students with research methodology and to provide opportunities for them to present their own research.

Department Qualifying Exams

Students must pass qualifying examinations in microeconomic theory, macroeconomic theory, and econometrics following completion of the core sequences. The exams are given in late May and July. Students must also pass examinations in one field of specialization following completion of the appropriate field sequences. The field exams are given in January and May. Please consult the Graduate Catalog for additional requirements by the Office of Graduate Studies for the Ph.D. degree. You may find this in the Graduate Handbook on the web site http://vpr.tamu.edu/ogs.html

Dissertation

Students normally begin research on their dissertations in their third year. The dissertation is intended as a demonstration of the student's ability to perform original research.

Sample Four Year Program

First Year
First Semester	Second Semester
Ecmt 675 Econometrics I Econ 629 Microeconomic Theory I Econ 636 Macroeconomic Theory I	Ecmt 676 Econometrics II Econ 630 Microeconomic Theory II Econ 646 Macroeconomic Theory II Qualifying Exams
Second Year
First Semester	Second Semester
Two or Three Field Courses - Part 1	Field Courses - Part 2 Field Exams
Third Year
First Semester	Second Semester
Any remaining field course - Part 1 Dissertation Development Workshop Econ 691 Research Field Exams	Field course - Part 2 Econ 690 Theory of Research/Workshop Econ 691 Research File dissertation proposal Field Exams
Fourth Year
First Semester	Second Semester
Econ 690 Theory of Research/Workshop Econ 691 Research File degree plan and prelim oral	Econ 690 Theory of Research/Workshop Econ 691 Research

Teaching & Research

In their first and second years of Ph.D. study, students receiving financial support are normally assigned as research assistants to faculty members to aid them in teaching and research activities.
In their third and fourth years, students may become teaching assistants and have the opportunity to instruct undergraduates at Texas A&M. Both types of assistantships are viewed as integral parts of the educational process, preparing students for careers in teaching and research.

Funding Opportunity

Bradley Fellows Program -

The Bradley Fellows Program supports two outstanding 4th year Ph.D. students working on their dissertation research. All third year Ph.D. students are encouraged to apply in the spring semester of their third year of study. A research proposal must be submitted to the Graduate Advisor, and applications are reviewed by a committee. The fellowship carries a waiver of out-of-state tuition for the recipient during the period of the award.

Bradley Scholarships -

The Department has a limited number of scholarships providing a one-time stipend of $1,000 to support Ph.D. students in the Department of Economics. These scholarships carry a waiver of out-of-state tuition for the recipient for the fall, spring and summer semesters if it is awarded in the fall semester, and for the spring and summer semesters only if it is awarded in the spring semester. A scholarship committee reviews all applicants and awards the scholarship on a competitive basis to students who are not funded by the university or other agencies. Students who are currently in the Ph.D. program must be a full time graduate student in good standing in the Department of Economics, meet the departmental expectations in academic progress toward the Ph.D. degree, and demonstrate good citizenship in the department.

PERC Summer Fellowship -

PERC awards two or three fellowships to support outstanding 2nd year Ph.D. students to do research in the summer. Recipients are expected to spend two summer months on a project, produce a working paper and present a seminar. Recipients must be enrolled for at least one summer term.

Gail Frey Monson Memorial Scholarship -

Monson Memorial Scholarship provides a one-time stipend of $500 to a 4^th year female Ph.D. student in the Department of Economics. To qualify for the scholarship, applicants must be full time graduate students in good standing in the Department of Economics, and demonstrate good citizenship in the department. Applicants must submit the following materials to the Scholarship Committee: (a) a cover letter, (b) a copy of her vita, (c) a copy of her dissertation proposal, and (d) a letter from her main advisor concerning student's eligibility and qualification for the award. Letters from other members of the student's advisory committee are not required, but are encouraged.

S. Charles Maurice Graduate Fellowship in Economics -

This fellowship is established by a generous gift from Niccie L. McKay, wife of late Professor S. Charles Maurice. This fellowship of $2,500 is for the 4th year Ph.D. students in Economics. Submit a letter of nomination from the chair of the advisory committee, papers and other supporting materials by April 15.

Joan Shin Research Award -

The Joan Shin Research Award of $1,000 is for a fourth year Ph.D. student in Economics. This award is to recognize the outstanding achievement in research.

Korean Economics Alumni Merit Scholarship -

This scholarship is funded by the members of the Korean Economics Alumni Association. The amount of the scholarship is a lump sum of $1,000, and it provides a waiver of out-of-state tuition. It will be awarded in August to a first year student who has no funding from the department and has passed both qualifying exams.

Joan Shin Merit Scholarship -

This scholarship offers a lump sum of $1,000, and it provides the waiver of out-of-state tuition. It will be awarded in August to a first year Ph.D. student in economics who has no funding from the department or any other public sources.

Chinese Faculty Merit Scholarship -

This scholarship offers a lump sum of $1,000 and the waiver of out-of-state tuition to one-three PhD students from China who have no funding from the department or any other public sources. Dr. Chuanwen Sun, who graduated from Texas A&M in 1996 with a PhD in Geophysics, partially sponsors this scholarship.

Kihoon Lee Scholarship -

This scholarship offers a lump sum of $1,000 to one Ph.D. student in the Economics Department who has no funding from the department or any other public sources. The scholarship provides the waiver of out-of-state tuition.