Ph.D. Program in Economics: Program Requirements

General

The degree of Doctor of Philosophy is awarded for mastery of subject matter and demonstration of research ability. It is given in recognition of the candidate’s superior attainments and ability in his or her major field. A student must maintain high academic standards to retain matriculated status in a doctoral program, and his or her progress will be reviewed regularly by the Executive Officer and other members of the doctoral faculty.

Normally, three or more years of full-time study and research beyond the bachelor’s degree are needed to complete a doctoral program. A student may obtain an M.A. in the course of his/her study for the Ph.D. The M.A., however, is not a prerequisite for the Ph.D. A student may petition the Office of the Provost and Senior Vice President to waive any specific requirement for the Ph.D. degree.

All requirements for the Ph.D. degree must be completed no later than eight years after matriculation. A student who has been granted a waiver of 30 credits of work completed prior to matriculating in the Ph.D. Program must complete all requirements within seven years.

Sixty-Credit Requirement

At least 60 credits of approved graduate work are required for the Ph.D. in Economics. These may include up to 30 acceptable graduate credits taken prior to admission to the program, provided the courses were completed with a grade of B or higher within an appropriate period preceding the time of application and are equivalent to comparable courses at the City University. An evaluation of previously earned credits will be made after the student has passed the First Examination.

To apply for an evaluation of transfer credits, the student should fill out an “Advanced Credits” form, available in the program office, and have it approved by the Executive Officer or the Deputy Executive Officer.

Students who plan to transfer credit should be aware that only in special cases and at the discretion of the Executive Officer will a transferred courses replace a required course in the program (see subsection E, list items 1-5). In most cases transferred courses will be given “blanket,” or nonspecific, credit.

Students may take courses in other related fields, such as international affairs and mathematics, with approval of the Executive Officer. Such courses may be counted toward the 60-credit requirement if they fit into a rationally designed overall student program in Economics.

At least 30 of the credits required for the degree must be taken in residence at The Graduate Center of The City University of New York. Doctoral students are expected to spend one year in full-time residence at The Graduate Center. Full-time residence consists of a schedule of no fewer than 12 credits or the equivalent for each of two consecutive semesters.

Required Preparation in Economics and Mathematics

All incoming students are required to have completed courses in Intermediate Microeconomics and Intermediate Macroeconomics at the undergraduate level.

Further, all incoming students are required to have a knowledge of calculus and linear algebra (two courses of undergraduate calculus and one course in linear algebra, or the equivalent).

Successful completion (B grade or better) of undergraduate courses in these areas will normally satisfy this requirement. Those entering the program without adequate undergraduate mathematics preparation must satisfy the requirement by the end of their first year in the program. In addition, students are required to have had at least one course in undergraduate statistics and one course in undergraduate econometrics.

The core courses in Macroeconomics, Microeconomics, and Econometrics are taught on the assumption that students have the required preparation in economics and mathematics. Hence, those students not prepared may enroll in Macroeconomics, Microeconomics, and Econometrics only in special cases in which the instructor grants permission. These regulations may require that certain entering students delay taking the first Macroeconomics, Microeconomics, and Econometrics courses until their second year in the program.

Faculty Mentoring Program

All graduate work is carried out under the direct and regular supervision of faculty. At the time of admission, the Executive Officer or Deputy Executive Officer acts as the student’s mentor, and continues to do so until the student determines the field in which he or she would like to specialize.

At that time, in consultation with the Executive Officer or Deputy Executive Officer, the student will choose an adviser in his or her desired field of specialization. Typically, this adviser will also be the student’s dissertation adviser. The faculty mentor will advise the student regarding issues such as advancing in a professional career. If the student decides to change his or her field of specialization, he or she may choose to change advisers. It is the student’s responsibility to choose an adviser and to inform the adviser of his or her interests and intentions.

In addition to being advised by doctoral faculty, all new incoming students are assigned a student mentor as part of the peer advisement program.

Student Program
All students must follow an approved program of study. Programs can be approved by either the Executive Officer or the Deputy Executive Officer. A minimum of 60 credits are required for the Ph.D., including two courses in Microeconomics, two courses in Macroeconomics, and three courses in Econometrics. The third required course in Econometrics is either Applied Microeconometrics or Applied Macroeconometrics and is normally taken in the second year in the program. In addition, all students are required to complete
a three-credit course in Economic History or the History of Economic Thought.

Further, students will participate in the ongoing program Seminar in Applied Economics. Students must take the seminar one time for credit and have an option of taking it a second time for credit. The seminar may be audited in subsequent semesters. Attendance will begin following completion of the Microeconomics, Macroeconomics, and Econometrics course requirements for the first examination. Some students will be selected in their advanced stage to present papers at this seminar.

All students also must complete the course Research Methods and Writing in Economics, normally in the student’s second year of study. This course, inter alia, contains a component involving the student presentation of his/her own research papers and a critique of them by students and the instructor.

Students who are holders of Chancellor’s (teaching) Fellowships must in their first academic year (when no teaching assignments are made) complete a no-credit course, Teaching Strategies in Economics.

A new, full-time student who has completed the mathematics requirements (see 1.C) would normally take the first Micro, Macro, and Econometrics courses during his or her first semester and the second course in each sequence in the second semester. First-year students might also take courses in Economic History.

The 60-credit requirement for a full-time student without previous graduate work in economics is typically fulfilled as follows:

1. Core Courses (Micro, Macro, and Econometrics) 24 credits

2. Economic History or History of Economic Thought 3 credits

3. Research Methods and Writing in Economics 4 credits

4. Applied Micro-Econometrics, or Applied Macro-Econometrics 4 credits

5. Seminar in Applied Economics (one semester) 3 credits

6. Advanced Level Field Courses (2 courses per field) 12 credits

7. Electives* (which may include Individual Research units and/or additional course work in the two advanced fields, or an additional course in applied econometrics, or an additional semester of the Seminar in Applied Economics. ) 10 credits

Total 60 credits

*Students may take up to 3 electives on a Pass/Fail basis.

Standards for Retention

The student's record will be evaluated at the end of each academic year, and his or her matriculation may be terminated for unsatisfactory scholastic performance.

To maintain a satisfactory standing in the program, the student must meet the following standards:

1. A quantitative standard -- The student must maintain a minimum cumulative average of 3.0 (a "B" average).

2. The Graduate Center also defines satisfactory progress as having no more than two incompletes at any one time and completion of degree in a timely fashion (see The Graduate Center Bulletin and Student Handbook for additional details).

3. The First Examination requirements must be completed in a timely manner as described in section below.

These requirements are interrelated. Together they provide an overall profile for each student's progression in the program and a means for determining the status of the student.

Criteria for Advancement

Level I to Level II: Advancement from Level I to Level II requires the student to complete 45 credits and to pass all three parts of the First Examination (Microeconomics, Macroeconomics, and Econometrics). For the First Examination, students must take written exams in two out of three areas and may have the written exam in a third area waived if they have at least a B average in its respective course sequence. Students must complete the First Examination within the first two years. See below for details.

Level II to Level III: Advancement from Level II to Level III requires the student to be advanced to Candidacy. Advancement to Candidacy requires that the student complete 60 credits (at least 30 of which must be taken at the CUNY Graduate Center) with at least a B average, complete all required courses, and pass the Second Examination.

The list of required courses that must be completed prior to advancement from Level II to Level III consists of the following:

• The six core courses in Microeconomics, Macroeconomics, and Econometrics that are the basis of the First Examination
• Two courses each in two Advanced Fields of Study
• One of the following two: (i) Applied Macroeconometrics, (ii)Applied Microeconometrics
• One of the following two: (i) History of Economic Thought, (ii) American Economic History, (iii) European Economic History
• Research Methods and Writing in Economics
• Applied Economics Seminar

See below for details

First Examination

The First Examination consists of three sections, Microeconomics, Macroeconomics, and Econometrics, and is designed to demonstrate the student’s ability to use and apply what he or she has learned in the six core courses. “Core examinations” in these three fields will be scheduled twice a year, once a term, in June and January. To complete the First Examination successfully, students must pass core examinations in at least two of these three areas. The third area may be satisfied with an average grade of at least B in the first year courses for that area. Under one alternative, for example, a student would be regarded as having passed the First Examination if he/she has passed the core examinations in Microeconomics and Econometrics and obtained a B average in Macroeconomics I and II in the first semester he or she enrolled in these courses. If a course is retaken, the higher grade will not affect the GPA and the course credits not counted.

Students normally are required to attempt two core examinations within 18 months after entering the program. There are four possible exceptions to this rule for: (i) Students who enter in the Spring Semester (and cannot therefore start the Microeconomics, Macroeconomics, and Econometrics course sequence until the following September); these students will be subject to the same time limits as students who arrive in the following September; (ii) Students who have been held back from taking one or more first-year courses because they entered with a gap in their background (see I.C); (iii) Students who suffer illness or other health problem during the academic year. At the discretion of the Executive Officer, they may be allowed to reduce their course-loads and thereby extend the maximum period to take First Examination; (iv) Certain students who hold full-time employment may take reduced course-loads, provided these students receive written permission from the Executive Officer in advance of starting the first year. Students in this category will be permitted to postpone a core examination in the area which has been postponed until the first scheduled examination date after they have completed the required course sequence in that area. It shall be understood that the criterion for granting this last employment-related exception is that the student be of exceptional quality and/or have experience that is valuable to the Economics Program.

Failure to keep up with the normal course load during the first year for any reason shall not be considered appropriate grounds for this exception.

Students are permitted two attempts at core examinations in the three areas. If the student fails in his/her first attempt, the second attempt must be completed by no later than the end of the June which follows the second year of study in the program. All attempts at core examinations (at most two in each of the three areas) must be completed by the end of the June, which follows the second full year of study.

Copies of old examinations are available from the Assistant Program Officer. Note that if a student appears for a First or Second Examination and does not hand in his or her examination book, he or she will fail the examination. There is, however, no penalty for signing up for an examination and then failing to appear for it.

Advanced Fields of Study

Students may pursue advanced work in the following fields:

Public Economics, including subfields of Urban Economics and Public Finance
International Economics, including subfields of International Trade, International Finance, and Economic Development
Economics of Human Resources, including subfields of Labor, Human Resources, and Health Economics
Financial Economics, including subfields of Corporate Finance and Investments
Macro and Monetary Economics Theory and Policy, including subfields of Advanced Macroeconomics and Monetary Theory
Industrial Organization, including subfields of Market Structure, Antitrust Policy, and Innovation and Research and Development

Additional fields, such as Economic History, may be permitted with the approval of the Executive Officer.The arrangements of the fields may include additional course work and examinations.

Each field is supported by at least two courses. These two courses should be completed before a student takes the Second Examination unless the student has approval of the Executive Officer or Deputy Executive Officer to take the examination based on an alternative background. Appendix A of this handbook contains detailed descriptions of the advanced fields, including required and elective courses and the names of faculty members with research interests in each area. Certain “cross-field” course and committee combinations may be put together at the discretion of and approval of the Executive Officer.

Second Examination

The Second Examination consists of

(1) A written comprehensive examinations in at least one Advanced Field of Study selected by the student. The examination component may not necessarily be course specific but will test the student’s knowledge of current trends in the field and his or her ability to synthesize and apply the work done in the field. Reading and understanding beyond individual course requirements are necessary to complete the examination successfully.

(2) The completion of another two-course field sequence with a minimum of the grade B in each course.

(3) The completion of the course Research Methods and Writing in Economics with at least a grade of B. The paper which is written and presented in this course will be inserted in the student’s file.

As implied by its title, the Second Examination follows the First Examination. The standard practice at The Graduate Center is that students must have passed the First Examination before they are permitted to take the Second Examination.

The student should complete the written examination component of the Second Examination, at the very latest, the next day in which the second examination component is offered after the end of the semester in which he or she completed the 60-credit requirement.

A student may fail the written examination component of the Second Examination once but must pass it on his or her second attempt. If approved by the Executive Officer, the student who has failed in a second attempt may attempt a different field written examination component after having completed the two-course sequence in that field.

Procedures for Dissertation Preparation

Within one month after successful completion of the Second Examination, or earlier, the student will speak to the Executive Officer about his or her research interest for a dissertation and follow these steps.

(1) Forming a Temporary Committee. The Executive Officer will appoint with student’s approval two faculty members to serve as a temporary committee and to work with the student in preparing a dissertation proposal.

(2) The Dissertation Proposal. The proposal is a document that describes the intended content of the dissertation. It defines specific research hypotheses, demonstrates a familiarity with the relevant literature, outlines the contribution to the literature, and describes relevant data sources, the econometric methodology and theoretical context proposed to conduct the research. If the dissertation will comprise several essays, each proposed essay will be defined in these terms, and the proposal will offer motivation as to how the essays will jointly constitute a dissertation.

In regard to the dissertation proposal, the following procedures are observed:

(i) In consultation with the temporary committee, the student works to develop a dissertation proposal.

(ii) While working on the development of the dissertation proposal, the student must obtain a completed Human Subjects Research Approval form to be submitted to the Economics Program at the time of the defense of the proposal.

(iii) Within 12 months after the completion of the Second Exam and 2 months prior to the oral proposal defense (or earlier), the student requests the formation of a permanent advisory committee.

(iv) When the dissertation proposal is complete, the student presents his/her proposal to an advisory committee for evaluation, and submits the completed Human Subjects Research Approval form to the office. The members of the permanent advisory committee must be CUNY doctoral faculty, and one of them will be the student’s Dissertation Advisor. The dissertation proposal defense is open to students and faculty.If the proposal is accepted, the student moves to the next stage. If the proposal is rejected, then the student must start over with work on another dissertation proposal on a new topic under a new temporary committee.

(3) The Dissertation. After a successful defense of the dissertation proposal, the student continues his research towards the completion of the dissertation under the guidance of the Dissertation Advisor and, more broadly, the permanent advisory committee. All committee members should be continuously informed about the progress of the research.

Once each semester, the student should submit a written report to the committee outlining his or her progress during that semester. It should be noted that the NRP (No Record of Progress) grade is available to be used by the dissertation adviser if the student has not maintained contact during the semester, has not made progress during the semester, or has not submitted a written report of progress.

The permanent committee is appointed for a period of three years. If the student has not submitted a dissertation by the end of these three years, a new permanent committee may be appointed.

At any point in time between the approval of the dissertation proposal and the constitution of the oral examining committee (see item 6 below), the student and/or the Dissertation Advisor may make a request for a change in the membership of the permanent committee to the Executive Officer. The Executive Officer will consult with the student and all members of the permanent committee and rule on this request.

Oral Defense of the Dissertation. When the dissertation committee confirms that the dissertation manuscript is suitable for an oral defense, the Executive Officer will schedule a date for the oral defense at least four weeks in advance, as mandated by university regulation (see Student Handbook). The Provost’s Office must be notified of the upcoming oral defense at least four weeks prior to the scheduled date.

The student must provide the Executive Officer with a complete acceptable draft of the dissertation at least two weeks prior to the defense. Failure to provide an acceptable draft will lead to postponement of the oral defense, in which case a new four-week scheduling period must be observed.

The oral examination committee has the authority to: (i) accept the dissertation as presented; (ii) accept the dissertation subject to specified minor revisions that are subject to review by the Dissertation Advisor; (iii) accept the dissertation subject to specified major revisions that are subject to review by the oral examination committee; (iv) request a new oral examination of a revised draft of the dissertation that addresses specified concerns about the described research; or (v) to reject the dissertation and dismiss the student from the program.

Before the degree is granted, the dissertation must be deposited in the Mina Rees Library of The Graduate Center. Instructions for preparing the final dissertation may be secured from the Registrar’s Office.

Teaching Requirement

Before receiving his/her degree, each student in the Economics Program must have taught a course in college- or graduate-level economics under his/her sole control. The student must normally have title of Adjunct Lecturer or Teaching Fellow in CUNY, but equivalent positions inside and outside CUNY may be approved by the Executive Officer.

Miscellaneous

Incoming students should meet with the Executive Officer or Deputy Executive Officer to discuss their program plans, special research interests, and ambitions. Students must obtain approval from the Executive Officer or Deputy Executive Officer before registering for courses each semester.

Peer advisers are assigned to each incoming student in his or her first semester in the Economics program.

Individual offices are not generally available for students. In special circumstances, students working full-time on a dissertation or employed as Research Assistants may be assigned shared office space.

The program follows The Graduate Center regulations for disputes and appeals concerning grades and program procedures, as outlined in the Student Handbook section on appeal Policies and Procedures. Students wishing to initiate an appeal should first inform the Executive Officer of such in writing and/or in person.

Address changes and changes in telephone number must be submitted, in writing, immediately to the Office of the Registrar as well as to the program office.