Coursework & Academic Preparation

Doctoral students should be prepared for a highly quantitative sequence of courses.

Suggested Prerequisites:

First and Second Year Coursework:

Doctoral students will also be taking courses outside our department. To make sure everyone understands the economics course, we are providing a basic background course. The Microeconomics I (Econ 8100) class is a serious review of micro theory using a modest level of mathematics. It is supposed to help the student with understanding the logic of economics without having to learn new mathematical techniques. In contrast, Microeconomics II (Econ 8120) is a course on production theory and consumer theory based on a Hal Varian-like approach to micro theory. Microeconomics III is general equilibrium theory and is taught in the May min-mester. Econometrics I (ECON 8750) is essentially a rigorous overview of OLS, hypothesis testing, parameter restrictions, and violations of the classical linear model.

* taught by Department of Economics

In the middle of the second year (after fall final exams), there will be a comprehensive tools exam. We should provide for one chance to retake and pass the exam, but if the student decides to leave the program, we should design a particular master's degree to give them. In the past many of the students have received a master's in economics on the way to the Ph.D. Perhaps, we can work this out with the economics department.

Second and Third Year Plan:

In the second year the students will take Econometrics II and Structural Risk Modeling. This course in Structural Risk Modeling is the second course in the set of course in computational methods in AS/Econ/and finance. Each semester in the second year the student will take 1-2 seminars like those listed below. Further, students can take seminar coursework in finance or economics depending on their interests.

In addition, there will be a second year paper, due approximately September 1, with presentations in the fall. Successful completion of the second year paper will allow the student to go to the dissertation proposal stage. This may include doing a dissertation based on the second year paper or some other topic.

** taught by Department of Finance
*** Currently in RMI Ph.D. Program

Third Year Plan:

By the beginning of the third year, the student should have written one paper (and be working on others), proposing for the dissertation, and preparing to go on the job market in the fourth year. In the second, half of the third year the students will also no longer be GRAs, but will be expected to teach. This will allow us to finance the Ph.D. program at or about its current level without extraordinary support from Educational Foundation Inc. (EFI) or various chairs in the Department. The student should also be taking classes (or dissertation hours) to meet the minimum course credit hour requirements for graduation.

Fourth Year Plan:

The goal for this year is to finish the dissertation, look for (and land a job), and continue writing papers.