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Stanford University is an American private research university located in Stanford, California. It was founded in 1891 by Leland and Jane Stanford in memory of their only child, Leland Stanford Jr., who had died of typhoid fever at age 15 the previous year. Stanford is a large research university with a strong emphasis on academic excellence and personal attention; it has been highly ranked by various publications as one of the world’s most prestigious universities.

Stanford University has a history that dates back more than 120 years ago to 1891 when its first president, David Starr Jordan, established The Leland Stanford Junior University in San Francisco as a memorial to his son who died at age 15 months old due to typhoid fever back in 1884.

The school started out as a small institution but grew rapidly once it moved to Palo Alto after the 1906 earthquake destroyed San

Stanford Economics PhD Overview

A PhD usually involves students engaged independently in original and significant research in a specific field or subject prior to the production of a publication-worthy thesis. By undertaking a PhD, you will become an expert, possibly an international expert, in your chosen field. A doctorate is the highest academic degree that can be awarded by a university. In Germany, studying for a doctorate means working intensively on a specific subject or research project over a long period of time. The duration of the doctorate also varies. Three to five years is typical. If you decide to take a doctorate, you can choose between different forms of study:

The traditional form of study is called “Vollzeit” or “Full Time”. You will spend most of your time at your university and will get paid for your work as well as having access to funds for research purposes; this is generally preferable for those who plan to go on to teach at university level once they complete their doctorate because it provides them with valuable experience before their career begins.

Another option is “Teilzeit” or “Part Time”. This allows you to work part-time while studying for your doctorate so it may be more suitable if

The department also offers a Ph.D. program, in which the primary objective is training students as research economists. In the process, students also acquire the background and skills necessary for careers as scholars, university teachers, and economic analysts. The curriculum includes a comprehensive treatment of modern theory and empirical techniques as well as field courses taught by leaders in each of the subfields of the discipline.

Students at Stanford participate in a rich intellectual environment including weekly seminars, as well as student research workshops and other gatherings that offer opportunities for informal feedback and interaction among students and faculty. In addition, students have access to a variety of courses offered through other departments around campus, including the Department of Statistics, the Graduate School of Business, the Department of Sociology, and so forth.

Currently, approximately 25 new students join the Ph.D. program each year.Application forms cannot be downloaded, and materials must be submitted online. Applicants must submit the following materials:

1. A statement of purpose (not exceeding two pages in length)

2. Three letters of recommendation

3. Please upload scanned (unofficial) copies of transcripts from every college and university you attended for at least one full year as a full-time student by the application deadline as part of your online application. Do not send official transcripts at this time. Official transcripts should be sent to the central university admissions office (not the Department) at the time you accept an offer of admission.

4. For applicants whose first language is not English (with some exceptions as clarified here), TOEFL scores are required. Stanford’s ETS institutional code for submission of scores is 4704.

Stanford will temporarily accept the TOEFL ITP Plus test with the Vericant interview for applicants from Mainland China who are unable to sit for the TOEFL iBT. This exception is requested only for the 2020-2021 application cycle. Applicants may be asked to re-test at a later time once the Stanford TOEFL iBT becomes available, or applicants may be asked to re-test through the Stanford Language Center.
To meet the needs of students who are unable to take the TOEFL iBT® test at a test center due to public health concerns, ETS is temporarily offering the TOEFL iBT Special Home Edition.

What is Stanford University’s Acceptance Rate?

Stanford University is a private research university in California, USA. The University originated as the Leland Stanford Junior University in 1885. It is one of the most prestigious institutes in the world, with a ranking of #3 in the QS world university rankings in 2023. The institution is selective with its enrolments, with a low acceptance rate of 5%, according to U.S. News & World Report. 

Stanford University’s acceptance rate for undergraduate courses for the class of 2025 was 3.95%, a decrease from the previous year’s 5.19%. The MS programs at Stanford University witnessed better results, with an acceptance rate of 8% in 2022. The low acceptance rate raises questions on how to get admission to Stanford University and the eligibility criteria.

Eligibility Criteria

The University offers undergraduate, graduate, and doctoral courses on its California campus, attracting students worldwide. Stanford University’s admission criteria vary according to the level of the course.

The requirements to secure admission in undergraduate courses are:

• The candidate must have a good ACT or SAT score (optional for the year 2022-2023).
• The student should have chosen at least five courses each semester during high school.
• The student should have subjects like English, Mathematics, Social Studies, Science, and a Foreign Language (recommended) in high school.

Stanford University’s admission criteria for graduate courses are:

• The candidate must have a US bachelor’s degree or equivalent from a university outside the US. 
• Students must have English as their first language or appear for the Test of English as a Foreign Language (TOEFL) before the deadline.

Documents Required

Stanford University’s admission requirements include essential documents for candidates seeking admission. These documents differ based on the level of study.

The mandatory documents required for undergraduate courses include:

• Application form
• Counselor’s letter of recommendation
• School report form
• Academic results or official transcripts from the previous institute
• Letters of recommendation from a minimum of two teachers
• Midyear transcript (until February 15)
• Test score records (ACT or SAT)

Candidates must submit the following documents for postgraduate and doctoral courses:

• Online application form on the official website
• A statement of purpose, comprising of one to two pages with a 12-point font and one-inch margins
• Resume or CV
• Three letters of recommendation from professors or employers
• University transcripts
• GRE scores (optional for 2023-24)
• Test of English as a Foreign Language (TOEFL) score

Tests Required and Average Scores

Stanford University considers applicants with relevant GRE, TOEFL, ACT, or SAT scores, depending on whether the candidate has chosen undergraduate or graduate courses. Undergraduate courses require an ACT or SAT score for candidates residing within the United States, while international candidates need an additional English proficiency test.

However, Stanford University has dismissed standardized tests for the undergraduate class of 2027. If the candidate wants to appear for the test, it is up to their discretion. But their test scores will not improve their chances of gaining admission.

Stanford University’s admission requirements state that the candidate must appear for one or more of the below-listed standardized tests for admission to graduate courses at Stanford University:

• GRE General Test & Subject Tests: Depending on the requirements of their chosen graduate program, candidates must appear for GRE. It is advisable to appear for the GRE, and the scores will be sent to Stanford if required.
• TOEFL Internet-Based Test: Candidates must appear for TOEFL if their first language is not English.

Depending on the course, the candidate must score a minimum score in TOEFL to be eligible. Some courses and their cut-off TOEFL scores are:

• Doctoral Programs – 100
• School of Engineering Master’s Programme – 100
• All other Master’s Programmes – 89

How Stanford University Evaluates Applicants

How to get admission to Stanford University? The institute uses the principle of holistic admission to evaluate students and check their eligibility to study among some of the top minds in the world. The evaluation considers the following factors:

• Academic excellence: The University assesses a candidate’s high school transcript, focusing on their potential to succeed and ability to challenge themselves throughout their education.  
• Intellectual vitality: Stanford University focuses on a student’s desire to grow through their statement of purpose and letters of recommendation, understanding the impact of the candidate on the people around them.
• Extracurricular activity: The institute uses this factor to understand what the student can bring to Stanford. It focuses on a student’s initiative to holster a well-rounded development by devoting time to activities outside academics.
• Context: Since every candidate promises a different set of skills and experience, the University relies on using context to judge achievements. It checks for your resources and how well you have utilized them.

Each of these criteria is equally important for the admission committee. These factors aren’t considered individually; instead, the committee focuses on a holistic review of applications.

Top Economics Schools of The World

1. Harvard University, Massachusetts, USA

‍It is an Ivy League institution that lays emphasis on academic excellence and is choosy to ensure they pick the best applicants. Harvard Economics offers undergraduate and graduate programs. Getting admission to Harvard is tough. Out of over 600 applicants, the Harvard economics department admits 40-44 students.

With an acceptance rate of 5.3%, requirements include GRE scores ranged in the 97th percentile, an average GPA of 4.1 with A’s in all your classes to stand a chance to be accepted. And an AP or IB course too.

In the undergraduate program, students choose a principal concentration and a secondary domain. The graduate program aims to prepare students to become economic researchers so past experience in research is essential with a demonstration of expertise in math.

Harvard offers financial aid to students of all nationalities and the amount of aid is the same for all eligible students.

Noted alumni: Sylvia Plath, Nancy Reagan and Gloria Steinem 

For more information: https://economics.harvard.edu/

2. California Institute of Technology, USA.

The Institute is a private, world-ranked research university and the Economics programs are conducted at the Division of Humanities and Social Sciences.

Your GPA should be 4.22 – which means you must be a class topper to be accepted. And with an acceptance rate of about 7%, getting into Caltech is no cakewalk.

Programs in economics range from undergraduate to Ph.D. levels. To be eligible to apply for the undergraduate program, applicants must complete 4 years of math, including calculus, 1 year of physics and chemistry, etc. in their secondary school.

Admission to the Ph.D. program is extremely competitive. Selection is based on a student’s substantiated commitment to research in social sciences and keenness to excel with hard work. Excellent GRE scores are essential. Caltech offers only need-based financial aid to undergraduates but you need to apply for it while seeking admission. Validated need for financial aid is usually met.

Ph.D. students can avail of stipends by way of fellowships and research and teaching assistantships for up to 5 years.

Noted alumni: Robert Barro, Gary W. Cox, and Arthur Lupia.

For more information: https://barnard.edu/

3. Oxford University

The Economics Department at the Oxford University provides a focus for a very diverse and internationally renowned group of academic economists, many of whom have made major recent contributions to modern economic analysis. Without a doubt, the Department is committed to excellence in teaching at the undergraduate and graduate level. And haven’t we all dreamt of going to Oxford to study.

For more information: http://www.economics.ox.ac.uk/

4. University of Toronto  

Seems like Canada is actually good at something. The Department of Economics at the University of Toronto ranks among the top economics departments internationally. The teaching and research of its 65 faculty members span a wide range of fields and cover theory, applied data analysis, and econometric methodology and of course, great placements.

For more information: http://www.economics.utoronto.ca/

5. London School Of Economics

The Department of Economics at the LSE is one of the largest economics departments in the world, with over 50 faculty and 1000 students (hence more are your chances of getting in!) The size of the Department ensures that all mainstream areas of economics are strongly represented in research and teaching.

For more information: http://econ.lse.ac.uk/

6. Stanford University, California, USA

Stanford is often mistaken for being an Ivy League College because of its excellent academic stature and also because they are very discerning with applicants.

Getting into Stanford is really challenging  – their acceptance rate is a low 3.9%. They are extremely selective in accepting applicants. To be accepted, your GPA has to be around 4.18 which means you must be a class topper.

Stanford School of Humanities and Sciences offers undergraduate and graduate programs in economics. The undergraduate program is devised to enable students to analyze current economic problems and be in a position to assess public policy with clarity. And the graduate program prepares students for an enriching career as research economists, university faculty and more. There are no merit-based scholarships available for undergraduates but financial assistance is available once it is validated.

Graduate students are given aid in the form of fellowships, research assistantships, and teaching assistantships to support them in their academic pursuits.

Noted alumni: Sandra Day O’Connor, John Elway, and Amitay Alter

For more information: https://economics.stanford.edu/

7. Massachusetts Institute of Technology, USA

The MIT Economics Department is dynamic with illustrious faculty – many of whom are Nobel Laureates. Naturally, it is extremely selective in taking students, in keeping with their reputation. The undergraduate program is very demanding and popular with 53 taking the course in 2016-17. Ph.D. students usually spend 5 years on campus – in graduate study and research.

The Undergraduate Research Opportunities Program gives students an opportunity to contribute to ongoing research and work closely with graduates and faculty.

Around twenty-four students sign up for the Ph.D. program in microeconomic theory, macroeconomics, and econometrics. The acceptance rate is about 8%. To stand a good chance of acceptance, you must be a class topper and have a cumulative GPA of 4.16 and graduate applicants must have at least a four-year bachelor’s degree. But it’s so competitive, a good GPA is no guarantee of acceptance.

MIT offers financial aid to all qualified students. Fellowships, scholarships and financial assistance are available in the graduate program.

Noted alumni: Esther Duflo, Amartya Sen, and George P. Shultz.