The global economic environment has become increasingly complex and poses a myriad of new challenges for policy and data analysts and professionals in all fields. The ability to respond to rapid changes in this environment requires that leaders have a detailed understanding of the economic forces that affect economic outcomes. Careful economic policy analysis requires practitioners who can make use of the most current theoretical academic literature, as well as do empirical and econometric analysis using the latest approaches and methods.
The IDE program at Yale University, housed within the Economic Growth Center and the Department of Economics, is a one-year Masters program intended to help students build the necessary toolkit for embracing such obstacles in their future careers, whether as career practitioners and economic analysts, or to follow a path through the policy analysis field on their way to subsequent Ph.D work.
This site is to inform prospective students of the program, the university and life in New Haven. We encourage prospective students to also visit the website of the Yale Graduate School for more information on the application procedure, policies, living in New Haven and other Yale facilities that are all open to IDE Students.
Additionally, this site will provide current students with access to all information they need on a daily basis and the rich alumni network. In the last 65 years, graduates have followed careers in all sectors of work. We encourage current students to reach out to alumni and benefit from their advice.
Introduction to the IDE Program
The IDE program started out in 1955 as a program in International and Foreign Economic Administration. It has since taken on a much more academic focus, with many of our students heading to Ph.D, research and policy analyst positions that require a working knowledge of economics at the graduate level. The program enrolls about 30 students a year. Many of the IDE students are from non-developed countries, but the key characteristic of all IDE students is that they have a strong interest in international and development economics.
Unique atmosphere for students
The IDE program retains its original environment of small cohort sizes. This allows a close relationship among advisors, lecturers and students. The relationship enables truly personal mentorship. This level of attention is very rare among similar master programs. IDE is a highly selective program, particularly with regards to the need for the skills necessary for cutting-edge graduate level work in economic and econometric theory, policy analysis and development economics.
While most of our students come directly to the program from undergraduate programs, many others come after working for between 2 and 5 years in either the private sector, government agencies, or policy analysis and research organizations. We truly welcome these varied experiences. Students benefit from the diversity in the cohort as each individual CV and experience enriches class debates.
Structure
The year-long program is structured around five core courses which teach the key tools that any researcher or practitioner needs. In addition to these core courses, students take at least three electives from any course offered by the graduate school that the students feel supplements their learning and development objectives. With the permission of the instructor, students can also take electives at any other Yale graduate school such as the School of Forestry, Yale Law School or the School of Management to truly tailor their program to their aspirations.
Collaboration with other programs
In addition to the regular IDE program, there are two joint degree options available to students: the joint IDE program with the Yale School of the Environment (YSE) and the joint IDE program with the School of Public Health. Application to the School of the Environment or to the School of Public Health may be made simultaneously with the application to the IDE program or within the first year of the IDE program.
Students may also elect to stay on the program for a second year. In this second year students can take more electives to supplement their portfolio of skills. Students need to continue to pay tuition for this year and non-US citizens or non-greencard holders must also maintain their student status. It is possible to apply for the second year while being enrolled in IDE.
About one third of IDE students enroll in Ph.D programs within the first two years after graduation. The IDE program does not allow for an automatic progression to Yale’s Ph.D in Economics. Although IDE students have been accepted into Yale’s PhD programs, we encourage graduates who wish to pursue a Ph.D. in Economics to consider other universities, too. Of course, students who desire to obtain a Ph.D. in Economics are encouraged to apply to the Ph.D. program offered by Yale’s Department of Economics.
Careers
After graduation, our non-US students are currently eligible for 12 months of OPT as well as an additional 24 months of STEM extension if they wish to work in the United States. Many of our students make use of this great opportunity.
While several of the program’s graduates head to Ph.D programs in Economics or other related fields after finishing the IDE program, virtually all of them do so after a year or two of working for policy and research groups, such as J-PAL, IPA, EPoD, IDinsight, the World Bank or the IMF.
Equally many graduates start their career at governmental or international organizations such as a Singaporean ministries, Bank of Japan or the UN. Many others start working in the private sector at consulting firms (McKinsey, Compass Lexecon) or in the finance sector (Nomura, Goldman Sachs).
Core Curriculum
The IDE program of study revolves around a core curriculum of five required courses, to which are added elective courses of each student’s choosing. The core courses are designed to provide students with rigorous academic training, as well as with tools that can be used in policy analysis. These one semester-long courses are required of all students.
Econ 545 Microeconomics
In contrast to a first-year Ph.D. course in Microeconomics, this course stresses applications, while still requiring a high level of analytical rigor. Theory of the consumer and theory of the firm are taught with an eye towards using the theory to analyze policy proposals and non-standard market structures. Game theory, market level analysis, and choice under uncertainty are also covered.
Econ 558 Econometrics
This course covers the elements of probability and statistics needed for regression analysis in the first few lectures. We then move to a scalar treatment of econometrics and some applied work in Stata. The course also has a self-contained treatment of linear (or matrix) algebra that is useful for econometrics. The ultimate goal of the course is to produce students who can use econometric software for data analysis while having a solid basis in the theoretical concepts. Exercises late in the course require the use of econometric software, and students also develop skill in interpreting and understanding regression output and how it pertains to economic and policy questions.
Econ 546 Growth and Macroeconomics
This course provides a rigorous framework for understanding the aggregate economy in both the short run and the long run. The first part of the course examines the causes and consequences
of economic growth. The wealth of nations is built over long stretches of time, and what matters over this horizon are the real factors of production, including labor, physical capital, technology, resources, human capital, institutions, and geography. The second part of the class explores the demand side of the economy, both in a closed economy and in an open economy. The recent economic crises in the U.S. and Europe have spurred renewed interest among economists in understanding the connection between financial frictions, asset prices, labor markets, fiscal policy, and central banking. We will focus on the short- and medium-run responses of firms, households, the government, and the central bank, and test whether our theoretical predictions are consistent with recent empirical evidence.
Econ 559 Development Econometrics
This course is a continuation of IDE Econometrics 558. Emphasis is on methods of applied econometrics commonly used in development economics, and discussion of the interplay between empirical strategies with identification of the parameters or effects of interest. Methods include development of panel data models, and difference-in-difference estimation frameworks, as well as examples of these from the development literature. Standard evaluation pitfalls, such as regression to the mean, are presented as threats to these strategies, as well as methods to overcome such problems. We also discuss regression discontinuity designs, and a brief treatment of matching methods. We build on the robust standard error techniques discussed in 558, as well as how these considerations fit with the design and evaluation of randomized control trials. We also discuss non-linear models, and the usefulness of linear methods in the context of models that are non-linear in the parameters.
Econ 732 Advanced Economic Development
In this course IDE students write their “thesis” – a research project, which is maybe the part that IDE students enjoy the most about IDE. Students are guided by the faculty teaching this course and present and discuss their work in sections. This course examines the models constructed by classical and modern economists to explain long-term economic growth in developing countries and the empirical relevance of these models to the present-day developing countries. Specific topics to be covered include: income distribution; foreign trade problems; population growth; savings behavior; the role of government. This course will also include consideration of some or all of the following issues in development policy: employment and unemployment; poverty among the working poor; education and human resources policy; fiscal policies; rural development.
Application Procedure
If you are interested in applying for the program, please visit the
Yale University Office of Graduate Admissions
website.
All questions specific to the admissions process should be directed to the Office of Graduate Admissions at graduate.admissions@yale.edu. Below is only a brief outline that may be out of date. In case of discrepancy the Graduate School website has the correct information.
Summary of Admission Process
- Applicant starts application to the Graduate School and the IDE program (read more on our Joint Program page if you interested in applying to a joint program). Applications open August 15
- Applicant gathers all required materials, requests letters of reference, completes standardized tests and writes the personal statement
- Submission of the application by the deadline as published on the Graduate School web site
- Application will be under review by the program. This process may start immediately after the application deadline and can take roughly 6 weeks.
- The decision of the program will be confirmed by the Graduate School of Arts and Sciences who informs the candidate of that decision after March 15.
Applications should be initiated as early as possible (late summer/fall) in the academic year preceding the one in which the individual proposes to register. Application is made via the Graduate School of Arts and Sciences’ Online Application available on or after August 15 through the Graduate School web site. The deadline for submitting your application for consideration for admission to the fall term is also published on the Graduate School website. All supplemental materials such as but not limited to transcripts, personal statement and financial statement should be uploaded to the application. Paper copies will not be accepted. Late applications will be considered only at the discretion of the Program Director. You are urged to read the application policies and procedures, which can be found at the same web site.
Although the Graduate School does accept test scores, supporting documents, and letters of reference after the deadline and forwards them immediately to the IDE program, please remember that your application will not be reviewed until all the supporting materials are included.
Joint Programs
Applicants interested in the joint IDE/YSE Program must individually apply to both the Graduate School using the online application, and the School of Forestry & Environmental Studies whose application can be obtained online at the YSE website.
Those interested in the Joint Program with the School of Public Health must apply to the School of Public Health and the Graduate School.
Standardized Tests
The Graduate Record Examination (GRE) is required of all applicants to the IDE program. The Educational Testing Service, administers the GRE in the United States as well as abroad. Applicants should arrange to take the GRE well before the application deadline.
You must request (either at the time of the test administration or via an additional Score Report) that your official scores be released to Yale University Institution Code 3987. If you are required to enter a Department or Program code, you should use Department Code 0000 (Undecided) for the GRE. No paper copies of GRE score reports will be accepted. For the most recent details on the codes visit the Graduate School web site.
English Language
The Test of English as a Foreign Language (TOEFL), also administered by the Educational Testing Service is required of all applicants whose native language is not English. Alternatively you may take the IETLS test. For more information you should visit the IELTS web site. Please identify Yale University Graduate School of Arts and Sciences as a recipient of your scores (there is no institution code).
This requirement is waived only for applicants who will have received a baccalaureate degree, or its foreign equivalent, prior to matriculation at Yale, from a college or university where English is the primary language of instruction.
If you have taken TOEFL within the last two years or are about to take it you will need to have your TOEFL scores released to us (code 3987). If you are required to enter a Department or Program code you should use 99 (Undecided) for the TOEFL either at the time of the test administration or via an additional Score Report.
There is no specific passing or failing score nor is there a minimum score requirement. Such evidence should be received by January 2 but will be accepted after the deadline.
Application Outcome
Applicants will be notified of action concerning admission by mid-March. Those who are undergraduates at the time of admission must present evidence of the satisfactory completion of the bachelor’s degree or its equivalent in order to register. Those who are engaged in graduate work must, before registration, present a transcript giving evidence of satisfactory completion of the year’s work in which they were engaged. For the current policy on required documentation visit the Graduate School web site
Students & their Careers
In our understanding the most important resource that students have is the connections they form with classmates and their life experiences from which they can benefit.
Prof Michael Boozer, Director
For IDE the students come first. This is why we start this section with talking about students rather than talking about courses, professors or the University. There is not the typical IDE student. IDE students are incredibly diverse and the program benefits hugely from that fact.
While many of the IDE students did their undergraduate studies in economics or similar fields, we also have a few students in each cohort who come from other educational areas, but who wish to build up the skills to do work in this area.
However, as the IDE Program is purely a master’s in economics, we take people with exceptional analytical and economics backgrounds. Therefore we accept students who have taken microeconomics, econometrics, and macroeconomics. Additionally they have taken courses in multivariate calculus, probability and statistics, and we give preference to people who have had linear (matrix) algebra. Upon admission to the program, it may be required that a student take the “Math for Economists” course during the summer prior to beginning the program.
In each cohort some of our students also have some work experience. In short, we encourage applications from all countries and from all post-baccalaureate backgrounds.
2018 Incoming Student Profile
- Number of Students – 28
- Number of countries – 10
- Female/Male ratio – 60%F / 40%M
- Average GPA – 3.84
- Average work experience 0.4 years
- International student population – 92.8%
- Average age – 22.8
- Average GRE Quantitative Score 165
Graduate Destinations
In the last 2-3 years our students went to work at the following places:
- World Bank
- IFPRI
- IMF
- Inter-American Development Bank
- European Bank Reconstruction and Development
- Soros Economic Development Fund
- UK Oversea Development Initiative
- UNICEF
- Bill and Melinda Gates Foundation
- J-PAL
- EPoD
- IDinsight
- Nomura Holdings
- McKinsey
- Citi Group
- Deloitte
- JPMorgan
- Goldman Sachs
- Frontier Economics
- UBS
- Compass Lexecon / FTI Consulting
- Chappuis Halder & Co Consulting
Many students also return to their home government (especially in Singapore and Japan).
Within 2-3 years of graduation about one third of the graduating class is enrolled in a Ph.D program. Recent graduates went to these schools:
- Stanford Economics
- MIT Sloan Finance
- Harvard HKS
- Harvard School of Public Health
- Harvard School of Education
- Berkeley Economics
- Berkeley ARE
- Berkeley Law
- Yale Economics
- Yale FES
- Michigan Economics
- LSE Economics
- UCLA History
- Duke Environmental Economics
- Chicago Booth
- Columbia Business School
- Columbia Economics
- Brown Economics
- BU Economics
- University of Pennsylvania Wharton Applied Economics
- Munich Economics
- ENSEA ParisTech Economics
- NUS
- ANU