PhD in Economics

A first-year student must enroll in all of the following courses (except when a waiver has been obtained). These courses have been designed to provide a strong foundation in the major introductory aspects of economics. Each first-year course is worth 3 credits (for a total of 18 credit hours), and is scheduled to meet for three hours per week. A student is expected to take no more than 25 credits in their first year, with language courses being possible additions at the student’s discretion.

*Math for Economists I is a service course for the Microeconomic Theory, Macroeconomic Theory, and Econometrics courses. 

Written Waiver Examinations

To enable PhD students to begin their dissertation research as early as possible, the department offers all incoming students the opportunity to take written waiver exams in any of the required first-year courses. Success in a waiver exam exempts the student from the relevant course, but does not count toward the 72 credit hours required for the PhD degree. Please note: There is no penalty for failing a waiver exam; the student simply takes the course. 

Student Research Seminar

This non-credit seminar is intended to introduce the research process and allow students the opportunity to receive feedback on their own research progress. Students in their second year and above present their research progress and attend student-driven workshops. First-year students attend research presentations by individual faculty members. All current PhD students are expected to enroll and attend regularly. The seminar meets on a weekly to biweekly basis.  

Teaching Workshop

This workshop prepares graduate students to support undergraduate students as TAs and provides opportunities for graduate students to receive feedback and develop their instructional skills. Students practice teaching and learn about teaching strategies. All PhD students currently holding a TA line are required to attend regularly. The workshop meets once a week.

Microeconomics and Macroeconomics Preliminary Examinations

In August at the end of the first year, students must take both the Microeconomics and Macroeconomics Preliminary Examinations, which are prepared by two separate faculty committees.

The purpose of the Preliminary Examinations is to ascertain whether students have acquired a knowledge sufficient to conduct their own original research using microeconomic and macroeconomic concepts and methods of analysis. If a student fails either examination, the student must retake the examination the next time it is given. Students are allowed a total of four attempts to pass both exams. For example, if a student passes the Macroeconomics Preliminary Examination on the first try, then the student has up to three tries to pass the Microeconomics Preliminary Examination, and vice versa. Failure to pass the Preliminary Examinations after the allotted number of attempts will ordinarily result in the termination of the student’s program of study. A student may request an exception to this by submitting a written petition to the Graduate Studies Committee.

Possible grades on the Preliminary Examinations are “high pass,” “pass,” “marginal pass,” “master's pass” and “fail.” A master's pass represents a fail with respect to the PhD program but is deemed a pass for a Master’s degree.

In the second year of the program, students are normally expected to take applied econometrics (ECO 614) and a sequence of 700-level field courses preparing them for research in a specialized area of economics. Students are expected to take between 18 and 24 credits in their second year, with a minimum of 9 credits each semester. In addition, students must choose a field of specialization in which to begin research.

Course Selection

Instructors of advanced economics courses file outlines and reading lists describing the contents of the courses with the graduate program secretary. These are available to help students decide which courses they would like to take. The department does not offer all second-year field courses every year.

The list of fields offered for the PhD plays an important role in shaping the offerings of advanced courses by the department. The department’s objective is to offer good training to students choosing one or more of these fields of study by teaching appropriate advanced courses in these fields so that students are prepared for their chosen field of research.

Field Paper

Second-year students must select a field of specialization in which to write a research paper and identify a faculty member who is willing to advise their research paper. By the end of April, students must notify the Director of Graduate Studies of their choice of field and advisor. Examples of fields include:

• Advanced Microeconomics
• Advanced Macroeconomics
• Advanced Econometrics
• Economic Growth and Development
• Economics of Information and Uncertainty
• Industrial Organization
• International Economics
• Labor Economics
• Marxian Economics
• Mathematical Economics
• Urban and Regional Economics

Student Research Seminar

Second-year students must attend the student research seminar and present some tentative research ideas. Students may present their plans for their field paper in the student research seminar.

Master of Science Degree

Completion of 36 credit hours of course work with a minimum grade point average (GPA) of 3.0, as well as receipt of the master's pass or better in both Preliminary Examinations, qualifies PhD students for the MS in Economics degree. Students are also able to obtain an MS degree without taking the Preliminary Examinations by completing 36 units of credit in the courses designated below with a 3.0 GPA and writing a Master's Project.

ECO 665: Microeconomic Theory I

ECO 609: Macroeconomic Theory I

ECO 611: Math for Economists I

ECO 666: Microeconomic Theory II

ECO 610: Macroeconomic Theory II

ECO 613: Introduction to Econometrics

and 6 additional economics courses at the 500-level or higher

During the third year, students choose a dissertation supervisor and make substantial progress in research. Some students also elect to take one or more courses in the third year. This is most appropriate when a course of particular interest was not offered during the student’s second year, or when additional coursework related to a dissertation topic is offered by the department or university. 

Third-year students are required to:

1. Find a dissertation supervisor by the end of January.
2. Demonstrate the ability to conduct research in their chosen field of specialization by writing a field paper.
3. Start developing a dissertation proposal deemed acceptable to their dissertation supervisor.

Field Paper

Students have until the end of October to submit the field paper to their faculty advisor with a copy to the Director of Graduate Studies. By the end of November, the faculty advisor must provide the student and the Director of Graduate Studies with a grade for the field paper and an explanation for the grade. The field paper is graded “Pass” or “Fail.” Students must receive a “Pass” to satisfy the field paper requirement.

Student Research Seminar

Third-year students must attend the student research seminar and present their research leading up to the dissertation proposal. Students may present work related to their field paper in the student research seminar.

Application to Candidacy for the PhD Degree

Once the student has selected a three-member committee for the dissertation, the student should file an Application to Candidacy pdfDownload pdf (ATC) form with the Graduate School. This form is also needed for Certification of Full-Time Status if a student is registered less than full-time in the program. If the student’s plans change, the ATC form may be revised by filing a Graduate Student Petition. Students should complete the ATC form, attach their unofficial transcript and send both documents to the graduate program secretary for processing. For more information, visit the UB Graduate School.

The student is expected to make progress on the dissertation during the fourth and fifth years and complete it by the end of the sixth year. Participation in dissertation workshops is strongly encouraged. Limited amounts of dissertation funding may be available through the University Graduate Student Association. 

Students should also anticipate that considerable time may be required during this period to prepare themselves and their vitae for entry into the job market.

Defense of Dissertation

This is an oral examination presenting the student's thesis work. It will be scheduled after completion but prior to final submission of the PhD dissertation. The defense of dissertation examination is open to all members of the Department of Economics. Examiners include the three members of the student’s dissertation committee.

Student Research Seminar

Students in their fourth year and beyond must attend the student research seminar and present their ongoing dissertation research.