This page is designed for students who are interested in pursuing graduate work in economics. You should also seek advice from other students and faculty members.
What is graduate school like?
Preparation for graduate work
The application process
How do I decide where to apply?
What do admissions committees look for?
How will I pay for graduate school?
What do former BYU students have to say about their experience?
Graduate work in economics almost always means pursuing a Ph.D. Almost everybody applies for admission to a Ph.D. program while they are an undergraduate. In some programs, you can get your Master's degree when you complete the doctoral coursework, but frankly, it doesn't really mean anything to most people.
Typical programs involve two years of course work, followed by a dissertation. The total time to completion (course work and dissertation) is usually four or five years. Most graduate students are involved in either teaching or research assistantships, although some programs allow you to concentrate exclusively on course work for the first year or two.
The single most important aspect of preparation for graduate work in economics is acquiring technical skills. Simply "completing the major" will not qualify you for a doctoral program. There is some variation in what schools are looking for, but most programs require significant preparation in mathematics (calculus and linear algebra) and economic theory. The best prepared students will have taken:
Math 113, 214, 343 & possibly 315 or 334.
Econ 580, 581, 586 & 588
Stats 441 & 442
Even if you haven't taken all of these courses, you can still be admitted to excellent programs; however, the better prepared you are, the better you can expect to do in the admissions process and in the graduate program.
If anyone has the time, there are several other courses in mathematics that might be helpful: Math 190, 316, 551, 552, 541, 541, and 570.
There is also value is breadth. Students are encouraged to take a variety of 400-level Econ courses.
It is also a plus to have experience in computer programming (SAS, Stata, SPSS, etc.). Stat 212 is a SAS programming class that some students may find useful.
With few exceptions, graduate schools only accept students for enrollment in the fall. The timeline is roughly as follows:
March/April - Consider whether graduate school is for you
September/October - Solicit application packages
Late Summer/Early Fall - Begin fellowhip/scholarship applications
Early November - Ask people to write letters for you
December/January - Applications are due
Mid-March/Early April - Admissions decisions are made
August/September - Begin graduate school
You will also need to take the GRE . The sooner you take it, the better an idea you will have of your options. Plan on taking it no later than October.
How well do econ students usually do on the GRE
How do I decide where to apply?
There are two primary considerations in sending out applications: What you are interested in, and where you will be successful. We are putting together a web page that summarizes Graduate School Information. You should spend some time learning about the many different programs, what standards they have and what they can offer you.
What do admissions committees look for?
Although every school is unique, most committees will look heavily at your coursework, GPA (major and overall), and GRE scores. Letters can also be important factors in the admission process. In addition to an assessment of academic ability, those writing letters are often asked to assess personal characteristics, such as leadership, maturity, creativity, and ability to conduct independent research. In order to write an informative letter, faculty need to know you outside of the classroom. Working as a teaching assistant and, if possible, a research assistant is very helpful. In most cases, letters should be written by economics faculty that know you the best.
The application itself is also very important. Make it neat and presentable, with no typos. Essay requirements should be taken seriously.
How will I pay for graduate school?
There is no question that graduate school is expensive. Most of our students who have gone to graduate school have been offered some form of financial aid from the program they attend. Sometimes this is a genuine grant with no obligations other than doing well in school, but often it comes in the form of research or teaching assistantships. There are a few outside fellowships (such as the NSF Graduate Research Fellowship) available to particularly well-qualified applicants.
What do former BYU students have to say about their experience?
(We are currently updating this information.)