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About Georgetown University Economics Department Phd

PhD Admissions
Thank you for your interest in the Georgetown University PhD in Economics program. The Ph.D. program in Economics is a full-time program that admits students with outstanding analytical skills; a strong preparation in mathematics is essential for successful application. Undergraduate training in economics is desirable, but exceptions are made in cases of students with appropriate alternative backgrounds. Undergraduate training in statistics and multivariable calculus is required, plus superior performance on the verbal, quantitative, and analytical aptitude sections of the GRE. Students with previous training in economics are encouraged to take the economics achievement section of the GRE. Other admissions requirements include three letters of recommendation, official transcripts, academic statement of purpose, and application fee. An academic writing sample is not required for consideration to the program. The core courses in typical Ph.D. programs in economics, including Georgetown’s, are highly mathematical. The typical matriculate to the Georgetown Ph.D. program has a strong mathematics background and achieves above the 80th percentile on the quantitative section of the GRE. Ideally, applicants should have completed three semesters of calculus and one semester each of linear algebra and differential equations.

PhD Program | Department of Economics | Georgetown University

Application Deadline for admission to the program in the Fall 2021 is January 1, 2022.

Application Information
Applications

In order to apply to the Economics Program you will need to complete the Economics PhD Application administered through the Georgetown University Graduate School of Arts and Sciences Admissions office.

GRE Exam

Applicants must take the GRE Exam as it is mandatory for your application to be considered. The GRE code for Georgetown University is 5244.

TOEFL

All applicants must provide proof of English language proficiency to be eligible for admission. Please note that citizenship does not determine English language proficiency. Proof of English language proficiency can be demonstrated by:

the receipt of a bachelor’s or advanced degree from an accredited institution of higher education in the United States or from a university where English is the primary language of instruction. The degree does not have to be earned by the time of application but will need to be conferred by the start of the semester to which the applicant is applying. (Please note that applicants receiving degrees at universities in U.S. territories, such as Puerto Rico, are required to submit the TOEFL or IELTS unless the primary language of instruction at the institution is English.)
submission of an official Test of English as a Foreign Language (TOEFL) score report with a minimum score of 550 (paper-based test) or 80 (internet test). Many departments and programs require submission of a TOEFL score of 600 (paper-based test) or 100 (internet test) or higher.
submission of an official International English Language Testing System (IELTS)Academic Module score report with a minimum score of 7.0. Some departments and programs require submission of an IELTS score of 7.5.
The TOEFL code for Georgetown University is 5244.

Transcripts

Applicants are required to upload to the application system unofficial transcripts from all undergraduate and graduate institutions attended. Do not send electronic or paper copies of your transcripts before receiving an offer of admission. Review the unofficial transcript requirements for additional details and FAQs.

Letters of Recommendation

Three letters of recommendation are required. If you would like to submit a fourth letter of recommendation you may send it to the Graduate School of Arts and Sciences Admissions office via email. The Department can not guarantee the Admissions Committee will review all four letters of recommendation.

Materials

Please send all application materials directly to the Graduate School of Arts and Sciences Admissions Office. Please DO NOT send transcripts, letters of recommendation, copies of your GRE scores, or IELTS/TOEFL documentation to the Economics Department. The Department is not allowed to keep these materials nor are we allowed to forward these materials to the Graduate School of Arts and Sciences on an applicant’s behalf, unless they are in a sealed envelope.

Contacts/Questions

For any programmatic related questions, please feel free to contact Julius J. Shapiro, PhD Program Coordinator
Email: js3900@georgetown.edu
Phone: 202-687-6260

For any application related questions, please contact the
Graduate School of Arts and Sciences Admissions Office
Phone: 202-687-5568
Email: gradmail@georgetown.edu

Please DO NOT send e-mail questions to individual faculty members especially Professor Axel Anderson, DGS. If you have any questions for Faculty members, please email Julius J. Shapiro, PhD Program Coordinator instead.

Once again, thank you for your interest in Georgetown University’s Economics PhD Program. We look forward to receiving your application.

Regards,

Axel Anderson, Director of Graduate Studies
Julius J. Shapiro, PhD Program Coordinator

PhD Program
Following guidance from Georgetown University and the District of Columbia, the Economics Department will be operating on a revised schedule.

Some classes will have optional in-person components; all classes will have an on-line option. The delivery of classes will be organized so that no students will be disadvantaged. Those following from remote locations will have a full complement of materials (lectures and recitations included of course), and those present in D.C. on a student visa will be able to fulfill all the conditions that are required by their physical presence in the United States. Class materials will be available asynchronously to accommodate students studying in remote locations.
All scheduled seminars will take place on-line.

Masters in Applied Economics Georgetown University - Georgetown Center for Economic Research

See the individual class and seminar listings for details and this page for Georgetown University’s COVID-19 responses.

Welcome to the PhD Program
The Georgetown University Economics Ph.D. program is a full-time program designed for students who seek research careers on the forefront of economic science. The Ph.D. program provides an excellent training environment for future scholars. Located in the nation’s capital, it is ideally situated for both students specializing in the pure science and those who wish to study policy informed by the science.

Members of the PhD Class of 2019
Main Contacts
Julius Shapiro serves as the PhD Program Coordinator. Please contact him first with any questions related to the PhD Program.
Professor Toshi Mukoyama serves as Director of Graduate Studies and is responsible for the PhD Program.
Professor Martin Ravallion serves as the PhD Admissions Director.

Admissions

Information for Applying to the PhD Program
Frequently Asked Questions
Supplementary Form

Alumni

Alumni News
Biennial Conference
Recent Placements

Information for Current Students

Current PhDs Students
Forms
Razin Lecture and Prize

General Information

Directions to the Department
Housing Information

Job Market

Current Job Market Candidates
Previous Job Market Candidates

Our PhD Students

Current PhD Student Profiles

Program Requirements

Course of Study
Core Courses
Field Courses
Policies and Procedures

Following guidance from Georgetown University and the District of Columbia, the Economics Department will be operating on a revised schedule:

Summer Courses for all undergraduate and graduate students will be conducted in a variety of modalities. Please consult the Georgetown University School of Continuing Studies Summer School website for further information.
The University plans to resume in-person instruction for the Fall 2021 Semester. We will continue to monitor pandemic and public health conditions to determine when this may be possible. Up-to-date information from the University on our Covid-19 status and response can be found here.
The Department seminar series in the Fall 2021 semester will all start in a virtual mode. We hope to resume in-person seminars during the semester at a date to be determined. The Fall 2021 Seminar Schedule will be posted here as soon as it becomes available.

Financial Aid Information
The Department of Economics awards financial aid in the form of full tuition, yearly health insurance and a fellowship or service stipend to all of our PhD students up to the conclusion of the fifth year in the program.

Tuition

PhD students in good standing will receive a Graduate Scholarship for the full tuition for as long as they are in the program (up to 7 years). Tuition for the 2020-2021 academic year is $2,214 per credit.

Health Insurance

PhD students in good standing will receive a health insurance subsidy for as long as they receive a graduate scholarship (up to . The cost of student health insurance for the 2020-2021 Academic Year is $2,995. Health Insurance is charged during the Fall semester of the Academic Year.

Fellowship/Stipend Support

Fellowship/Stipend support is merit based and is provided to PhD students in order that they might pursue their academics without having to earn an income.

First Year PhD students will receive a fellowship (non-service) from the Department in the amount of $32,500 for the full academic year. The purpose of this fellowship in the first year is for PhD students to focus in on their studies and prepare for the comprehensive exams at the conclusion of the first year. Fellowship (non-service stipend) support provides a lump sum payment at the start of the quarter and tuition support.

Second Year PhD students and above will receive a service stipend in the amount of $32,500 for the full academic year. Mainly students choose between teaching assistantships (95%) and research assistantships (5%).

Sixth Year PhD students and above are not eligible for Graduate School or Departmental stipend support. At this time, PhD students are encouraged to find alternate sources of income.

Here are the different types of assistantships:

Teaching Assistantships (TAs)

TAs are hired by the department and receive a payroll check twice a month and also receive a health insurance subsidy. As a TA you are expected to work 15 hours per week. TAs can be employed an additional 5 hours per week on or off campus.

Research Assistantships (RAs)

Students on Research Assistantships are employed by the professor who hired them. Students are generally contacted by the Professor who is interested in them to work on research. RA positions receive a payroll check twice monthly and also receive a health insurance subsidy. RAs work an average of 20 hours per week during the quarter in which they are employed.

Recent Placements
The recent placement record of our students reflects the strength of our program and the overall quality and hard work of our students. Roughly half of our students take academic positions. Many others take research-oriented positions in government institutions like the Federal Reserve System, the US Treasury, the Department of Justice, and the Bank of England or in prestigious international organizations like the World Bank and the International Monetary Fund. Others choose to continue their research in the research divisions of firms such as Moody’s Analytics and Freddie Mac.

2020-2021

Ph.D. Student	Placement
Gaurav Bagwe	Bates White Economic Consulting
Becka Brolinson	Federal Housing Finance Agency
Maria Hernandez de Benito	University of Alicante
Mosha Huang	Amazon
Pedro Juarros	International Monetary Fund
Juan Margitic	Inter-American Development Bank
Umberto Muratori	Universidad del Rosario
Jacquelyn Pavilon	Center for Migration Studies in New York
Michael Packard	Capital One
Yangfan Sun	Sun Yat-sen University

2019-2020

PhD Student	Placement
Alexander Billy	Berkeley Research Group
Muran Chen	Amazon
Francisco Garrido	ITAM – Business School
Yidan Jin	Mercer
Madhulika Khanna	EPoD Post Doc
Arsenii Mishin	National U – Russia
Milan Thomas	Asian Development Bank – Research Section

2018-2019

Ph.D. Student	Placement
Lei (Ray) Ge	Fannie Mae
Gong Lee	KDI School of Public Policy and Management
Givi Melkadze	Georgia State
Dario Sansone	University of Exeter
Veli Safek	Carnegie Mellon University-Qatar
Allison Stashko	University of Utah (Eccles)
Kin-Ping (Jeremy) Wong	Digonex

Here is a complete list of our placements over the past 12 years:

2012-2018

Academic	Government and Private Sector
American University	American Institutes for Research
Beijing Normal University	Banque de France
Capital University of Finance and Economics	Central Bank of Chile
Catholic University	Central Bank of Columbia
Christopher Newport University	Central Bank of Turkey
Georgetown University MSB (Post-Doc)	Citibank
Gettysburg College	Ernst and Young
Instituto Tecnologico Autonomo de Mexico (ITAM) Business School	European Bank for Reconstruction and Development (EBRD)
Shanghai University of Finance and Economics	Federal Deposit Insurance Corporation
Smith College	Federal Reserve Board of Governors
Tsinghua University	Freddie Mac
United Arab Emirates University	Inter-American Development Bank (IADB)
Universidad Alberto Hurtado	Moody’s Analytics
Universidad del Desarrollo	U.S. Air Force Academy
University of Essex	U.S. Department of Justice
University of Groningen	U.S. Department of the Treasury
University of International Business and Economics	World Bank
University of Michigan

2006-2011

Academic	Government and Private Sector
Hope College	Asian Development Bank
Isik University (Turkey)	Barclays
Lander University	Banco Central de Chile
Oregon State University	Ernst and Young
Pontifical Catholic University of Peru	Federal Deposit Insurance Corporation
Shanghai University of Finance and Economics	Federal Energy Regulatory Committee
Stanford Business School	Federal Reserve Bank
Süleyman Şah University	Federal Reserve Bank of St Louis
Taiwan University	HM Treasury (British Treasury Department).
Tiblisi State University	Iberian Gas Hub
University of British Columbia	International Monetary Fund
University of Richmond	Noble Group
University of Wisconsin-White Water	Price Waterhouse Cooper
Vassar College	SK Research
	Wellington Management
	Willis Towers Watson
	World Bank

Frequently Asked Questions for Prospective Students
I. PhD Program Inquiries
Q. The Department of Economics looks for applicants to possess strong mathematical backgrounds. What exactly does a strong mathematical background consist of?
Answer: Successful applicants generally have taken two years of calculus (through multi-variate calculus), economic statistics, and introductory econometrics. Courses of Linear algebra, differential equations, and Real Analysis are also helpful. One way to get an idea about the level of math required for PhD work is to look at any of these first-year textbooks: Microeconomics, by Mas-Collel, et. al., Introduction to Mathematical Statistics by Hogg & Craig, and Econometric Analysis, by Greene.

Q. What kind of financial support is available for students in the Economics PhD Program?
Answer: The Graduate School offers financial aid in the form of Teaching and Research Assistantships that provide tuition scholarships and stipends.

Q. Does the Department offer a MA Program in Economics?
Answer: The Department offers an MA in Applied Economics. This program is entirely separate from the PhD program in its admission process, and the courses required are distinct from those of the Doctoral program. PhD Students earn the “master’s in passing” (in Economics) after accumulating 30 credits with a GPA of at least 3.0. Students who leave the PhD Program may receive an MA (in Economics) if they have accumulated a sufficient number of credits with a GPA of at least 3.0.

Q. Is it possible to do well in the Program if I work full time?
Answer: NO. The Economics Department requires full-time study and classes meet during the day. Some students elect to hold jobs once they reach the dissertation stage of the program, but they often find it difficult to sustain the interest of their dissertation committees and generally take much longer to complete their degrees.

Q. What are the strengths of Georgetown University’s PhD Program?
Answer: The PhD Program has two major strengths: International Economics and Microeconomic Theory. However, the program offers an excellent variety of fields including Econometrics, Economic Development, Economic Theory, Industrial Organization, International Economics, Labor Economics, Macroeconomics, Public Economics and Political Economy.

II. Application Inquiries
Q. When is it necessary to submit a TOEFL score in an application?
Answer: All applicants must provide proof of English language proficiency to be eligible for admission. Please note that citizenship does not determine English language proficiency. Proof of English language proficiency can be demonstrated by:

Q. How do I check my application status?
Answer: The Graduate School will notify you when a decision has been made. The department is not allowed to release any information over the phone or by email. Please do not inquire.

Q. If I am admitted, may I defer matriculation until the subsequent year?
Answer: No. The department of economics does not allow any deferrals.

III. Average Statistics
Q. Approximately how many students get accepted into the PhD Program each year?
Answer: In recent years the PhD Program has received about 475 applications, of which about 50 are admitted and 15 matriculate.

Q. Approximately, how many students are awarded financial aid each year?
Answer: All PhD Students receive a stipend for the first five years in the program and tuition for 7 years. For more information regarding financial aid, please click here.

Q. On an average, how many years does it take the majority of your students to obtain their PhD’s?
Answer: Over the past ten years, median time to completion is between five and one-half years and six years.

IV. Financial Inquiries (all amounts are subject to change)
Q. What are the terms of an assistantship award?
Answer: The awards for the 2020-2021 academic year includes full tuition, health insurance subsidy and a living stipend of $32,500 paid over eight months of the academic semester. The assistantships carry work obligations of fifteen hours per week.

Q. What additional application materials do I need in order to be considered for financial aid?
Answer: There is no separate financial aid application. Applicants wanting to be considered for financial aid need only to mark the box that indicates so on the general application for admission.

Q. What is the cost of tuition and insurance for the academic year 2020-2021?
Answer: The current tuition is $2,214 per credit. A normal course load is 12 credits per semester. For I-20 purposes, living expenses are estimated to be $20,700, and books and insurance $3,234. For more information about insurance costs, please contact Office of Student Financial Services.
Year 1 $2,214 x 27 credits = $ 59,778
Year 2 $2,214 x 18 credits = $ 39,852
Year 3 $2,214 x 8 credits = $ 17,712
Year 4 $2,214 x 2 credits = $ 4,428
Year 5 $2,214 x 2 credits = $ 4,428

V. Email Etiquette
Q. How does the department respond to inquiries sent by e-mail?
Answer: There are several things of which you should be aware. First, it is rarely necessary to send an inquiry. The Graduate Admissions Office will let you know if your application is incomplete; the Economics Graduate Program Coordinator, Julius Shapiro, will let you know if the admissions committee has specific questions about your application. Second, applications are read by admissions committees who have access to all of the information in your file. Please do not email faculty members about your application, even if they work in the field that you want to study. Finally, be patient. You must keep in mind that we receive hundreds of inquiries and that it takes time to make sure that each email is answered correctly and completely. Sometimes applicants do not send their email to the person best-qualified to respond. In such cases, the recipient forwards the email to someone who can provide the correct information. Under no circumstances should an applicant send the same inquiry to several recipients or send the same inquiry several times.

VI. Admission Requirements
Q. What does the application consist of?
Answer: The Application consists of the following:

Application form and supplemental data sheet
500 word typed Statement of Purpose
Official transcript(s) from all colleges/universities attended
Three letters of recommendation (in English)
Curriculum vitae (optional)
Entrance Exam (GRE, and/or TOEFL)
Application fee – No fee waivers

Q. What is the criteria for admission?
Answer: The admissions committee carefully evaluates the previous academic record for evidence of strong analytical and creativity as well as substantial training in mathematics and statistics. At a minimum, applicants should have had multivariate calculus and undergraduate statistics; courses in differential equations, linear algebra, real analysis, and econometrics would strengthen an application. Undergraduate training in economics is desirable but is not essential for applicants with appropriate alternative backgrounds. The application must include three letters of recommendation (from teachers who recently taught the applicant), official transcripts, statement of purpose, GRE score reports, and the application fee. The TOEFL score report is required for applicants whose first language of instruction is not English. The minimum requirement for the TOEFL is 550 on the paper test and 213 on the electronic test, and 80 on the Internet based test.

Q. When is the application deadline?
Answer: The deadline for admission is January 1, 2022 at Midnight EST.

Q. When and how will I be notified about the decision?
Answer: The Graduate School notifies applicants of decisions as quickly as possible. The department is not allowed to release any information over the phone or by email. Please do not inquiry.

Q. What are the GRE and TOEFL institutional codes for Georgetown University?
Answer: The GRE code for Georgetown University is 5244. The TOEFL code for Georgetown University is 5244.

Q. Can I transfer credits from my current institution?
Answer: Typically, No. However, the department occasionally awards “advanced standing” or transfer credit for graduate work completed elsewhere. We do not give transfer credit for the core theory courses (Microeconomics I & II, and Macroeconomics I & II). We can not give transfer credit for previous graduate work that applied to a previous degree. The maximum number of transfer credits that we award is 12.