Ph.D. in Economics

We are very pleased to announce that Drexel University and the LeBow College of Business has approved a new “Ph.D. in Economics”, starting in Fall 2007.  This replaces the current “Ph.D. in Business with a Specialization in Economics”.¹

The mission of the Ph.D. program in Economics is to prepare economists for careers in academia and industry by providing a solid background in economic theory, quantitative analysis, and analytical tools at the advanced level.  The Program has been restructured as a focused and specialized program in order to take advantage of the strength of the department and to enhance the competitiveness of our students in the job market. This restructuring is consistent with the recent expansion of the economics faculty and an increased presence in top-level publications.

Currently, the fields of specialization that are offered include International Trade, Industrial Organization, and Open Economy Macro/International Finance.  We recruit high-quality and highly motivated students, who want to pursue their career goals in these areas of specialization, to train and provide them with a competitive edge when they enter the job market.  The small size of the program enables us to give the students a high level of individual attention.  This is a unique quality of the Ph.D. in Economics Program at Drexel University. The department has an external seminar and an internal research workshop every week. The Ph.D. students attend both seminars and also have the opportunity to present their research in the internal workshop. The seminar schedule can be found at http://www.lebow.drexel.edu/Faculty/Departments/Economics/Seminars.php

The application deadline is February 1, and admissions decisions are typically made in early March.  All admitted students will usually receive financial aid which provides a full tuition waiver plus an annual stipend of at least $20,000 per academic year up to four years.  Additional scholarship funds are also available, based on demonstrated potential and academic performance.

If you need more information please contact:

Dr. Bang Jeon, Ph.D. Coordinator, Department of Economics
Tel:  (215) 895-2125
E-mail: jeonbana@drexel.edu

Or

Dr. Paul Jensen, Director, LeBow College of Business Ph.D. Program
Tel: (215) 895-2146
E-mail: jensenpe@drexel.edu

Degree Requirements:

Students typically complete their coursework in two years.  Although the student will be advised and encouraged to finish the degree in four years, it is typical to complete the Ph.D. within five years.

• Required courses:  minimum 17 courses (51 credits in the quarter system)
  • During the first year:  9 courses
• Math for Economists
• Statistics I
• Statistics II
• Microeconomics I
• Microeconomics II
• Macroeconomics I
• Macroeconomics II
• Econometrics I
• Behavioral Science
• During the second year:
  2 or 3 courses from two of the three sequences:
• Trade sequence
• Industrial Organization sequence
• Open Economy Macro / International Finance sequence
  and
• Other electives
• The first-year Ph.D. exam: After the completion of the first year of the program, all Ph.D. students must pass the first-year Ph.D. examinations  in three areas: Microeconomics, Macroeconomics, and Statistics/Econometrics I
• The second-year Ph.D. exam:  The second-year Ph.D. exam to be taken at the end of the second year of studies consists of written exams in two of the three sequences and a research paper.  Once the second-year Ph.D. exams have been passed, the student is recognized as a Ph.D. candidate.
• Ph.D. thesis:  The Ph.D. student should successfully propose, submit, and defend his/her Ph.D. thesis under the supervision of five or more faculty members, including at least one member from outside the department.

Full-time Status: It is required that all Ph.D. students will maintain full-time status during their course of study. This requires that the student should be registered for nine or more credits for 3 out of 4 quarters for every academic year.

Ph.D. Program in Economics: Admissions and Financial Aid

The LeBow College of Business seeks applicants with exceptional ability and motivation who can succeed in a research-oriented program. Admission to this full-time program is competitive and highly selective.

In reviewing an applicant's credentials, the faculty will consider the following factors:

• Prior Academic Accomplishments: The faculty will examine all course work taken prior to application, paying particular attention to the specific courses that have been completed. Applicants should have attained a minimum grade point average of 3.0 (on a 4.0 scale) for all undergraduate course work completed. They also should have attained a minimum 3.3 average for any graduate-level course work taken. The faculty generally expects applicants to demonstrate a substantially higher level of accomplishment than these minimum requirements. A master's degree is not a requirement.
• Graduate Record Examination (GRE): Applicants are required to submit GRE scores.   GRE scores are not accepted if they are more than five years old.
• Test of English as a Foreign Language (TOEFL): applicants whose native language is not English and who have not already received a degree from a U.S. university must also submit scores from the Test of English as a Foreign Language (TOEFL).
• Personal Statement/Essay: Each applicant must submit a personal statement. The personal statement should explain the applicant's educational and personal experiences that have influenced the decision to pursue a Ph.D. and should discuss the candidate's career plans and goals. The faculty are especially interested in learning about an applicant's prior research experience and the commitment to future research in the applicant's area of specialization.
• Letters of Recommendation: Two letters of recommendation must be submitted in support of the application. Applicants are strongly encouraged to seek recommendations from academics or other professionals who can assess the applicant's likelihood of success in a research-oriented Ph.D. program.

Admission Procedures
The Ph.D. Program admits students each fall. To be considered for admission, the completed application must be received by the Office of Graduate Admissions no later than February 1. It is the applicant's responsibility to ensure that all transcripts, test scores and letters of recommendation, as well as the application form and the personal statement, are received by Drexel University no later than February 1.

• For applicants who are either current or former Drexel University students, click here for more information.

Assistantships and Financial Aid
The LeBow College of Business strives to provide a graduate assistantship to each entering Ph.D. student. Therefore, each applicant to the Ph.D. program is automatically considered for a graduate assistantship as well as admission into the program. First-year graduate assistants are assigned to work with a faculty member on research activities. During the second and subsequent years, graduate assistants are generally assigned a combination of teaching and research responsibilities. Assistants receive a stipend and full tuition remission in accordance with their plan of study. Doctoral students who are making satisfactory progress toward the degree can expect to be provided with an assistantship for four years.

To obtain an application, please contact:
Office of Graduate Admissions
LeBow College of Business
Drexel University
Matheson Hall, Suite 207
Philadelphia, PA 19104
(215) 895-6804
or apply online.

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¹In Pennsylvania changes in doctoral programs require state approval. The University is in the process of attaining this approval.