GENERAL INFORMATION

The graduate program trains professional economists for careers in academia, government service, business and non-profit organizations, research institutions and consulting firms. It blends economic theory and policy with quantitative and statistical techniques to equip students with a sound understanding of economic analysis. In addition to taking formal courses, students are involved in activities designed to develop their research skills.
 

Applicants to the Ph.D. program are required to take the Graduate Record Examination (GRE) and expected to possess mathematical proficiency equivalent to courses in multivariate calculus (i.e. 3 semesters of university level calculus), probability and statistics (2 semesters),  differential equations, and linear algebra. To qualify for financial aid in our Ph.D. program, GRE scores must total at least 1200 on the verbal and quantitative parts combined. As a general rule, a Bachelor's degree in economics is required, but the program is open to students from other fields such as mathematics, statistics, and engineering. However, all applicants must have taken at least 12 hours of economics, including two intermediate theory courses, one in price theory and another in macro-economics.

The program is organized so that well-qualified entrants, devoting full time to study, can largely complete their course work and qualifying examinations in three years. Having passed these examinations, students proceed to work on the doctoral dissertation which typically takes 2-3 years. Those entering with deficiencies in preparation may require somewhat longer. A sample program of study toward the Ph.D. degree is shown below.

FIRST YEAR

Fall Semester

ECO 6371 Introduction to Quantitative Economics (note)
ECO 6372 Econometrics I
ECO 6384 Microeconomics Theory I
ECO 6394 Macroeconomics Theory I

Spring Semester

ECO 6374 Econometrics II
ECO 6385 Microeconomics Theory II
ECO 6395 Macroeconomics Theory II

Students must take the qualifying examinations in theory at the end of the Spring Semester.

SECOND YEAR

Fall Semester

ECO 6375 Econometrics III
Field Course I
Field Course II

Spring Semester

Field Course III
Field Course IV
Elective

THIRD AND FOURTH YEARS

All Ph.D. candidates must take ECO 7004 (Pre-prospectus Seminar) by the end of the third year and in so doing must write and present a research paper to the faculty and graduate students. Ideally, this paper would be in the area in which the student proposes to do dissertation research. This course is intended to prepare the student for an eventual dissertation prospectus presentation and to help the student become accustomed to seminar presentation. Additional field courses or electives may be taken to complete the 48-hour requirement. When completed, students will enroll in Economics 8100.

The department offers tuition scholarships and generous teaching and/or research assistantships. The regular assistantship involves tutorial duties, grading, and research assistance, up to 20 hours per week on the average during the academic year (ten months). The assistantship covers tuition and fees and provides a stipend.

Exceptional applicants may also apply for the Dean's Award for Excellence as a supplement to the assistantship. Applicants who win the award will have an opportunity to carry out an approved independent study project during the summer.

As a general policy, the department will attempt to consider financial assistance for a period of up to four years for students making satisfactory progress toward a Ph.D. degree. The department also has available doctoral dissertation fellowships sponsored by the Summerfield G. Roberts Foundation. These fellowships support doctoral dissertation research.

Tuition scholarships are available, in some cases, for doctoral studies.

PH.D. DEGREE REQUIREMENTS

The major requirements for the Ph.D. degree consist of passing the qualifying examination and writing an acceptable dissertation. Other requirements include computer competency, specific courses, credit hours, grade point average, and residence. All of these are briefly described below.

Qualifying Examination

Every student must pass a written qualifying examination in Economic Theory. Students will normally take this exam following the end of the second semester in the program.

Field Requirements

Two fields are required. Each field involves at least 6 hours of 7000 level course work in a specified area and must be completed with at least a B in each course. Pre-prospectus Workshop (ECO 7304) or Introduction to Applied Econometric Methods (ECO 6375) can be used, with the prior approval of the Director of Graduate Studies, to count toward three hours of one six-hour field requirement.

Third Year Research Paper

By the end of third year, all students must complete a research paper that has to be approved by their faculty advisor. Students are strongly encouraged to present this paper in one of the following (i) the brown bag seminar series; (ii) the pre-prospectus class; (iii) departmental seminar; or (iv) via a specially scheduled presentation.

Dissertation

The student must pass the qualifying examination and must complete the field requirements before beginning work on the dissertation. Once these requirements are completed, work on the dissertation proceeds in two stages. In the first stage, the student prepares a dissertation prospectus which, upon completion, is presented before a faculty committee. In the second stage, after the prospectus is approved, the student proceeds to work formally on the dissertation. When the dissertation is completed, the student must defend it at a final oral examination.

Required Courses

Every Ph.D. student must satisfactorily complete 8 required courses: Introduction to Quantitative Economics (ECO 6371), two microeconomics courses (ECO 6384, and 6385), two macroeconomics courses (ECO 6394, and 6395), and three econometrics courses (ECO 6372, 6374, and 6375).

In addition to required credit courses, students must attend a pre-prospectus workshop and departmental seminars.

Credit Hours

Every Ph.D. student must earn 48 semester credit hours in economics in an approved program of study. Up to 24 semester credit hours of graduate course work may be transferred from another institution upon approval by the department and by the Office of the Graduate Dean. The 48 hour requirement excludes ECO 8000- Dissertation Research, ECO 7304-Prospectus Workshop and ECO 7275-Econometrics Workshop.

Grade Point Average

Each student is expected to maintain at least a cumulative B (3.0) average over all courses taken in the program.

Residence

Every Ph.D. candidate must be in residence at SMU for at least one academic year.

Time Limit

The required course work must be passed and the field requirements must be completed within five years from the date on which the student entered the graduate program.

Up to five years are allowed for completion of the dissertation from the date on which the student completes the qualifying examinations.