Advice for Prospective Economics PhD Students
Advice for Prospective Economics PhD Students
These are my opinions, based on my own experience. Other economists may disagree, so read other people's advice as well (see the list at the end). Also, this advice is based on how I think that the world works, not how an ideal system should work, so do not read it as an endorsement of current admission practices.
My advice applies to US-style PhD programs. In these programs, you are admitted without an advisor or a research project, and you typically spend two years on coursework and then three or more years on your own research. Such programs also exist outside North America, for example the PhD program in economics at NUS. My advice may not apply to other types of PhD programs, for example programs in which a professor hires you to work on a specific funded project, which is more common in continental Europe.
Only if you really want to do academic research. Otherwise, it is not worth it. A PhD is not like a master's degree that gives you a general set of skills that can be applied to many different types of careers, it is narrowly focused on getting you started as an academic researcher. In many ways it is more similar to a first job than a degree. Of course you can switch careers after your first job, but it is probably not a good fit for you if you are not excited about that career even when you start your first job.
What do you mean by academic research?
Research that aims at publication in peer-reviewed journals. Most academic economists work at universities, but some work at central banks, think tanks, or organizations such as the World Bank.
Will a PhD help my career outside academic research?
A PhD is required for academic research positions, but not for most other jobs. In most other careers, five or more years of work experience will take you further than the two letters "Dr" before your name. So if your long-term career goal is to work in something that isn't academic research, you are probably better off trying to find a job on that career path and gain 5+ years of work experience, rather than first pursuing a PhD and then switching careers.
The PhD program is so long, and I will be so old when I graduate. Is it worth it?
If you want to do academic research, yes. Do not worry about how long a PhD takes (often five to seven years) or about how old you will be when you graduate. In US-style programs (see the top of this page), you are paid a stipend, so think of the PhD as your first job in academic research rather than as another degree. You don't have to "wait to start your life" until you are done with your PhD. For example, it is now pretty common to have a child while in a PhD program.
What are the upsides and downsides of a career in academic research?
The main upside is intellectual freedom: you can pursue the questions that interest you most. The flip side is that the work is highly unstructured. No one tells you what to do on an everyday basis, and you spend much of your time on your own, trying to figure things out. This is great for people who like it, but others find it daunting and lonely. A pre-doc is a good way to find out which group you belong to (see below). Other downsides are that not all academic jobs pay well and that you may have to move far away to find a good job.
Getting admitted to a good PhD program in Economics is highly competitive. Admissions committees mainly look at four things:
Grades in technically rigorous courses
Your GRE quantitative score
Letters of recommendation
Evidence that you can think creatively about research ideas
It is also a plus if you have something extra that few other applicants have: special experience, access to unique data, connections that open up research opportunities, or deep knowledge of a particular context.
Think about your application from the perspective of the admissions committee. What in your application makes you stand out from other applicants? Remember that committees read each application very quickly, so make sure the most important information is very clear and comes early in the text.
Which courses matter most?
Technically rigorous courses, such as linear algebra, real analysis, and microeconomic theory (especially at the graduate level). Admissions committees want to make sure a candidate can survive the first year core coursework, which is very theory focused.
Do I need an undergraduate degree in economics?
No. What matters most is that you have done well in technically rigorous courses. For example, the NUS PhD program admits students with degrees in economics or in another quantitative subject, such as mathematics, statistics, physics, engineering, or operations research.
Often the applicants that are the most successful do not have a "pure economics" background, they often have a major or minor in an even more technical subject such as mathematics, statistics, or computer science.
Do I need to take the GRE, and what score do I need?
Some programs no longer require the GRE, but I recommend taking it. A high quantitative score is a strong signal, especially if the admissions committee knows little about your university and therefore finds your grades hard to interpret. As a benchmark, LSE states that most of its successful applicants score 166 or above (out of 170) on the quantitative section, and the Bonn Graduate School of Economics reports an average of 165 and advises against applying with a score below 160.
Who should write my letters of recommendation?
Active academic researchers in economics, meaning that they publish regularly in internationally recognized economics journals (e.g. the top 100 journals of the IDEAS/RePEc ranking), and who have worked closely with you rather than just taught you in a course. They can describe qualities that your transcript does not show. Working as a research assistant or pre-doc is a good way to get such letters.
How can I show that I can think creatively about research?
Through your statement of purpose, a thesis, or research experience. It is important that these research projects are original research (not a literature review or a term paper that answers a question posed by the course).
How should I write my research proposal or statement of purpose?
Take it seriously, but think of it strategically. No one will hold you to it after you are admitted, so choose the idea with the most potential to become an academic paper, and don't worry so much about actually implementing the project. Show that you think like a researcher: a question of academic interest and a credible plan to answer it, such as the data you would use, how you would get access to it, and your identification strategy. The more details you can provide the better it is. Don't make very general statements such as "I am interested in taxation."
Should I mention faculty I would like to work with?
You can, but name several whose interests match yours rather than one famous person.
Do I need publications to be admitted to PhD programs?
No, and publications in little-known journals will not help your chances of being admitted. So do not spend a lot of time trying to publish your senior thesis, unless you think you can publish it in a top-100 economics journal.
Should I contact professors before I apply?
No. In economics, the program admits you, not a particular advisor, so emailing professors in advance does not help.
How many programs should I apply to?
Many. There is a lot of randomness in admissions, so a rejection from one program says little about your chances at another. Applying is expensive, but some universities waive application fees for applicants from low- and middle-income countries.
Should I apply to programs outside the US?
Yes, as part of applying broadly. The US has the largest number of good PhD programs, but there are also good programs elsewhere, and many of those in Europe, the UK, and Singapore follow the structure of US-style programs. Others follow different models (see the top of this page).
I am obviously biased toward NUS, but if you are from Asia or plan to do research here, I think it is natural to also apply to NUS. Being able to easily travel to field sites and being in the same time zone can make a big difference for data collection. At NUS we have traditionally had lots of very strong applicants from China and we are looking to diversify our PhD program and are actively looking for candidates from outside of China, in particular from South-East Asia, South Asia, Oceania, Japan, and Korea.
I have a three-year undergraduate degree. Do I need a master's degree first?
Probably. For most programs, a three-year degree, which is common in e.g. South Asia or the UK, is not enough on its own because you haven't had enough time to take a sufficient number of technically rigorous courses (see above).
How do I choose between offers?
The best way is to talk to students currently in each program. Ask them frankly about the offers you have and which one they would have chosen in your place. If you have an offer, you can ask to be connected with current PhD students.
Doing a pre-doc is now perhaps the most common path to a PhD in Economics, and I recommend it. A pre-doc is a full-time research assistant job, usually for one or two years, with academic researchers. It helps in two ways:
You find out whether you want a career in academic research, because you see how research is done in practice.
You get strong letters of recommendation, because the researchers you work with get to see your potential for doing academic research beyond what a faculty member who has just taught you will.
What are the downsides of a pre-doc?
A pre-doc is a job, so you are paid, and you learn useful skills: applied econometrics, coding, and how to think like a researcher, which also helps you write a better research proposal. If it turns out that you don't like doing academic research, then you can simply apply for different jobs or master's degrees without having paid too high of a cost in terms of time or money. That is a smaller risk than taking a loan to pay for a master's degree and then realizing that the degree was not a good fit for you.
Should I do a master's degree instead of a pre-doc?
If your undergraduate degree already makes you a competitive applicant, I would choose a pre-doc, for the reasons above. A master's degree makes sense if your current degree is not enough on its own, for example if it is a three-year degree (see above). If you do a master's degree to prepare for a PhD, choose a research-oriented program rather than a taught program designed for people who will go straight into work.
How do I get the most out of a pre-doc?
Try to understand why you are doing each task, not only what to do. For example, if you add a question to a survey, understand how the answers will feed into the final paper. Also make sure you interact directly and regularly with the principal investigators, not only with a research manager, so that they get to know you.
Where can I find pre-doc positions?
Here are some options: PREDOC, J-PAL, IPA, and NUS.
I give some of this advice in more detail in two recorded talks:
Careers in Academic Economics Research, Economics Study Center, University of Dhaka, January 2024.
Economics PhD Programs: What They Are and How to Get Admitted, J-PAL Southeast Asia and J-PAL South Asia, September 2024. This talk also covers the NUS PhD program.
Susan Athey, "Advice for Applying to Grad School in Economics"
Chris Blattman, "FAQs on PhD applications" (2022)
Chris Blattman, "PhD applicants: Writing your statement of purpose" (2022)
Torsha Chakravorty, Aishwarya Kekre, Prerna Kundu, Lakshya Narula, and Vaibhav Ojha, "Applying to PhD Programs in Economics: An Extensive Guide" (2021), written by applicants from India
Tatyana Deryugina, "Should you get a PhD?" (2019)
Jonathan Dingel, "Applying to graduate school", written for research assistants
James Fenske, "How to Get a Job in Development Economics without a PhD" (2022)
Greg Mankiw, "Advice for Aspiring Economists" (2006)
Abdoulaye Ndiaye, "What Economists Do: A Practical Map of Careers, Training, and PhD Pathways" (2025)
Jesse Shapiro, "Notes on applying for a PhD in Economics"
Dick Startz, "A Guide for UCSB Undergraduates Considering a PhD in Economics"
American Economic Association, Committee on the Status of Women in the Economics Profession, "Navigating the Ph.D. Admissions Process", CSWEP News 2022 Issue III
Graduate Applications International Network (GAIN), mentoring and resources for applicants from Africa
International Development Economics Association, "Economics PhD Admissions Panel: Programs in the United States" and "Economics PhD Admissions Panel: Global Programs" (2026), recorded panels
J-PAL, "Deciding if a PhD is right for you" and "Navigating the PhD admissions process" (2024)
Last updated: October 2026