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Dr. Mark Scanlan

 

The first thing you need to do is sit down and seriously contemplate what your goals are for your near future and whether graduate school will help you achieve those goals. If you believe it does, then you should start looking for what aspects of economics interest you the most.  Every school has areas that it specializes in, and finding a department that matches your interest will increase your chances of being successful.

If you are considering graduate school in economics it is always a good idea to take as many Math and Statistics courses as possible.  It would also be worthwhile to stop by and talk with me, or other faculty members, to make sure you are taking the appropriate classes in the best order possible.  This is also a way to meet with the faculty who will be writing your letters or recommendations.  

What can I do with a PhD in economics?  The most common job sought by PhD's are teaching or research jobs at a Univ. (summers off are always nice).  There are also several Private Sector and Gov't Jobs:

World Bank

Asian Development Bank

IMF

What can I do with a Masters in economics?  To teach economics at a university you will need to have a Ph.D., but if you are more interested in working as an economic researcher for a firm or for the government then a masters may be right for you.  Masters programs generally take 12-18 months to complete and require many of the same courses taken by Ph.D. track students.

Here is a list of schools that list where their graduates find employment

Berkeley

Boston Univ

Michigan

Texas A&M

Univ of Minnesota

U Penn

Expected Salary Offers "for 2007-08. Responses from 100 institutions indicate that the average expected salary offer for the 2007-08 academic year is $76,542, a 0.1 percent decline from the actual offer for the 2006-07 academic year for the sample of institutions. The average expected
offer by Ph.D. degree granting institutions, $86,498, is 1.1 percent above the 2006-07 offer. The
Top 30 institutions in the sample report an average expected offer of $95,041 which is 0.2
percent below the 2006-07 offer. Bachelor and Master degree granting institutions report an
expected offer of $65,896, a 1.1 percent increase over the 2006-07 offer."

http://cber.uark.edu/data/aea/aea07-08.pdf

Remember these salaries are based on nine month contracts, many schools pay an additional 1/12 of your salary for every summer class you decide to teach.

Taking the GRE.  You will need to take the GRE exam in preparation for application to graduate programs.  The GRE's Verbal and Quantitative sections each have a top score of 800.  Top 50 schools are looking for around a 700 on the Quatitative and a 500 on the Verbal .  Schools in the top 25 have even higher standards, expecting around a 750 on the Quatitative and a 550 on the Verbal.  These are just the average scores that top schools hope to have in a candidate, many top schools have lower listed required scores, each schools admissions standards can be found on their websites.  There is also a new section called Analytical Writing which is scored on a 0-6 scale.

Helpful Links

Why get a PhD (wide variety of information)

PhD Programs (list of schools with an economics PhD program)

Grad School Q&A (great link that answers many questions about grad school in economics)

Financial Aid (good link with many resources)

International Education Financial Aid (spend some time looking around this site)

Which school is best for you (lets you rank what is important to you in a grad school)

PPIA (grant and fellowship program that provides student training and financial support for graduate school and facilitates ongoing professional development."  They focus on aiding minority students in their Junior year.)

Top Economics Departments (generally ordered by rank from  http://edirc.repec.org/usa-top.html)

Princeton University, Princeton NJ
Department of Economics

Harvard University, Cambridge MA
Department of Economics

Massachusetts Institute of Technology, Cambridge MA
Economics Department

University of Pennsylvania, Philadelphia PA
Department of Economics

Northwestern University, Evanston IL
Department of Economics

New York University, New York City NY

Department of Economics

Boston University, Boston MA

Department of Economics

Yale University, New Haven CT

Economics Department

Stanford University, Palo Alto CA

Department of Economics

University of California, San Diego CA

Department of Economics

University of Texas, Austin TX

Department of Economics

University of Rochester, Rochester NY

Economics Department

University of California, Berkeley CA

Department of Economics

University of Maryland, College Park MD

Department of Economics

Johns Hopkins University, Baltimore MD

Department of Economics

University of Pittsburgh, Pittsburgh PA

Department of Economics

University of Chicago, Chicago IL

Department of Economics

University of Minnesota, Minneapolis MN

Department of Economics

University of Wisconsin, Madison WI

Economics Department

University of Virginia, Charlottesville VA

Department of Economics

University of California, Los Angeles CA

Department of Economics

Columbia University, New York City NY

Department of Economics, School of General Studies

University of Michigan, Ann Arbor MI

Economics Department

Ohio State University, Columbus OH

Department of Economics

Duke University, Durham NC

Department of Economics, Arts & Sciences and Trinity College

University of California, Irvine CA

Department of Economics

Brown University, Providence RI

Economics Department

Pennsylvania State University, State College PA

Department of Economics

University of California, Davis CA

Economics Department

University of Iowa, Iowa City IA

Department of Economics

California Institute of Technology, Pasadena CA

Division of Social Sciences

University of Florida, Gainesville FL

Economics Departmen

tTexas A&M University, College Station TX

Department of Economics

University of California, Santa Barbara CA

Department of Economics

Boston College, Chestnut Hill MA

Department of Economics

University of Washington, Seattle WA

Department of Economics

Carnegie Mellon University, Pittsburgh PA

Department of Economics

University of North Carolina, Chapel Hill NC

Department of Economics

University of Illinois, Urbana-Champaign IL

Department of Economics

Vanderbilt University, Nashville TN

Department of Economics

Virginia Polytechnic Inst and State University, Blacksburg VA

Department of Economics

Cornell University, Ithaca NY

Department of Economics

University of Colorado, Boulder CO

Department of Economics

Michigan State University, East Lansing MI

Economics Department

University of Houston, Houston TX

Department of Economics

Rutgers University, New Brunswick NJ

Department of Economics

North Carolina State University, Raleigh NC

Department of Economics

Rice University, Houston TX

Department of Economics

State University of New York, Albany NY

Department of Economics

Georgetown University, Washington DC Economics Department

 

 


Contact Information:
Dr. Mark Scanlan, Associate Professor of Economics
McGee Business Bldg., Suite 392 Office P
Phone: (936) 468-1883

E-mail: scanlanm@sfasu.edu

Mailing Address:
Department of Economics & Finance
Box 13009-SFA Station
Nacogdoches, Texas 75962-3009


Last Updated: August 8, 2011
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