Doctorate in Economics

Doctorate in Economics

The PhD in economics requires  students to complete 72 hours of coursework.  Students entering with a masters degree in economics from a university other than NC State may apply 18 hours of relevant graduate coursework toward this credit hour requirement.

Students entering without a masters degree should expect to take five years to complete the Ph.D., three years of course work and two years of dissertation research. Those with a master's degree in economics or agricultural economics should expect to take four years, two years of course work and two years of dissertation research.

PhD with en route ME degree

Students who enter the doctoral program with no prior graduate work in economics may choose to earn the Master of Economics (ME) degree en route to earning the PhD.  This option allows students to apply 30 hours of coursework toward both the ME and PhD.   Students choosing this option work closely with the graduate director to choose an appropriate combination of masters and doctoral courses that meet the requirements of both degrees while providing the appropriate foundation for students to move successfully from the bachelors degree toward the doctorate. These students generally complete one year of masters level coursework focusing on micro and macro theory, statistics and econometrics before beginning the doctoral core courses.

Prerequisites

Admission to the doctoral program requires minimum prerequisites of intermediate microeconomics, intermediate macroeconomics, two semesters of calculus and one semester of regression based statistics. However, we strongly encourage students to complete additional coursework in linear algebra, differential equations and econometrics.

A good text that reviews the quantitative techniques with which doctoral students should be familiar is Mathematics for Economists by Carl P. Simon (author) and Lawrence E. Blume.

Core Courses

The core curriculum includes two courses in microeconomic theory, two courses in macroeconomic theory and two courses in econometrics.

ECG 701 Microeconomics I
ECG 702 Microeconomics II
ECG 704 Macroeconomics I
ECG 705 Macroeconomics II
ECG 751 Econometrics
ECG 752 Topics in Econometrics or ECG 753 Microeconometrics

Field Courses

Students are required to take six doctoral level field courses, four of which should comprise two 2-course sequences. Fields with 2-course sequences include: agricultural economics, economic growth and development, industrial organization, international economics, labor economics, macro-monetary economics, and natural resources and environmental economics. A student wishing to specialize in econometrics/statistics may opt to take two courses from an approved list of statistics courses. These two courses will complete one 2-course sequence.

Through a cooperative agreement between NC State, Duke and UNC-Chapel Hill, students may also take field courses at these universities if equivalent course are not available at NC State.

Written Comprehensive Examinations

In the summer (July) following completion of the core courses in economics theory (701, 702, 704, 705), students are required to take two four-hour written comprehensive examinations in microeconomic theory and macroeconomic theory.

Students must complete the written preliminary examinations at the first offering following completion of their micro theory and macro theory core courses. Both exams must be taken at the same offering. The four-hour written exams are offered in the same week with a day of rest in between.

If a student fails one or both exams, the necessary exams may be retaken at the next offering (January). If a student fails one or both exams a second time, the student's doctoral program is terminated. There are no field exams.

Preliminary Oral Examination

The preliminary oral examination for the economics PhD addresses the student's ability to define a specific, realistic, and feasible research question. As a basis for the exam the student should prepare a substantive literature assessment focused on the specific area of interest.

The preliminary oral examination takes place after the student has passed the written comprehensive exam and in accordance with the deadlines given below. The oral exam is conducted by the student's advisory committee and a representative from the Graduate School. A Ph.D. student is admitted to candidacy upon passing the preliminary examination. Students receiving departmental funding should be aware that financial assistance may be discontinued if the examination is delayed.

Dissertation Proposal Defense

Students are also required to complete an oral presentation of a dissertation proposal. This presentation may occur during the preliminary oral exam, or during a second oral presentation by the student before the advisory committee. In other words, students may opt to present a fully developed dissertation proposal as the preliminary oral exam, obviating the need for the dissertation proposal later. The acceptance of the preliminary oral exam as satisfying the requirement for the dissertation proposal presentation lies at the discretion of the advisory committee.

Examination Deadlines

	Written Comprehensive Exams in Microeconomic & Macroeconomic Theory	Preliminary Oral Examination	Presentation of the Dissertation Proposal
Students entering with a master’s degree	Summer immediately following completion of core year	April 30 of the third year	January 30 of the fourth year
Students entering with a bachelor’s degree.	Summer immediately following completion of core year	April 30 of the fourth year	January 30 of the fifth year

Final Oral Examination

The final oral examination is a defense of the complete written dissertation. The oral exam is conducted by the student's advisory committee and a representative of the Graduate School.