1. Introduction to Ph.D. Degree and Program The Ph.D. is the most advanced degree in the field of economics and is generally considered a research degree. Earning a Ph.D. typically involves several years of post-baccalaureate study, including advanced courses in microeconomics, macroeconomics, quantitative analysis, and econometrics, followed by courses in the student's field of specialization. At Western universities, in particular in the US most doctoral programs require students to pass one or more examinations (often called preliminary, qualifying, or core examinations) before they are allowed to continue their Ph.D. studies by taking courses in their fields of specialization. After all coursework is completed, students develop a research plan for a doctoral dissertation. The proposed research path is the subject of an oral examination before the research path is approved. The Ph.D. is awarded after successful defense of the doctoral dissertation, usually during a final oral examination.

2. Who can apply for Ph.D. Program in Economics? Students from a wide variety of backgrounds earn graduate degrees in economics. This includes economics and non-economics majors, those with and without prior graduate training, and those with and without prior economics employment experience. To decide which program is the best fit, potential students should examine their own qualifications (including their GRE scores, their GPA, and their mathematical preparation) as well as the methodological approach, fields of specialization, size of program, typical time-to-degree, required examinations, financial aid, emphasis on mathematics, job prospects, and location of the programs to which they apply.

3. Careers with Ph.D. degree in Economics Individuals with graduate degrees in economics pursue a wide variety of careers, including: Government (e.g., the Federal Reserve, the Federal Deposit Insurance Corporation, the Federal Trade Commission, the Centers for Disease Control, the General Accounting Office) Academia (e.g., universities, four-year colleges, community colleges, and technical colleges) Business/Industry (e.g., credit agencies, banks, consulting firms, brokerage firms) International Organizations (e.g., the World Bank, the International Monetary Fund) Research Organizations (e.g., Rand, the National Bureau of Economic Research)

4. Timeline for applying to study for a Ph.D. in economics May to September: Research and Begin Selecting Schools September: Practice for the Graduate Record Exam. This could include using an on-line preparation website, a printed or electronic study guide (widely available at bookstores), or taking a specific course. The test is administered by Educational Testing Service, and their website (www.ets.org) provides extensive information on the GRE.www.ets.org October: Take the GRE for 1st time by October: Contact individuals who will write letters of recommendation for you. Potential factors to consider when soliciting letter writers are the degree to which he/she can assess your potential abilities in graduate school (including your mathematical background and your analytical skills) and his/her prestige. Non-native speakers may also want to have supplementary letters addressing written and verbal communication skills.

5. Timeline for applying to study for a Ph.D. in economics November: Re-take the GRE, if needed. Prepare Applications and Statement of Purpose December to Early January: Applications Generally Due February to April: Acceptance Letters Received August: Begin Graduate School

6. Recommended Mathematical Training to Prepare for Graduate School in Economics Although economics graduate programs have varying admissions requirements, graduate training in economics is highly mathematical. Most economics Ph.D. programs expect applicants to have had advanced calculus, differential equations, linear algebra, probability theory and mathematical statistics. Many applicants have completed a course in real analysis. This means that undergraduates thinking about graduate school in economics should take 1-2 mathematics courses each semester.

7. Recommended Mathematical Training to Prepare for Graduate School in Economics There are some excellent textbooks in Russia that can help you gain solid mathematical background for your graduate study in economics. Высшая математика в упражнениях и задачах, aвторы: Данко П., Попов А и Кожевникова Т. Сборник задач по высшей математике, авторы Лунгу К. и другие. Теория вероятностей и математическая статистика. Учебное пособие и руководство к решению задач, автор Гмурман В.Е.

8. Graduate Admission Requirements Departments of Economics http://econ.washington.edu/grad/admissions/requirements/ http://www.econ.pitt.edu/graduate/grad_req.php

9. Recommended Economics Departments and Universities worldwide Rankings of US Economics Departments are given in the following site: http://grad-schools.usnews.rankingsandreviews.com/best-graduate-schools/top- humanities-schools/economics-rankings https://www.aeaweb.org/gradstudents/Schools.php Potential students are free to choose their desired programs and departments.

10. Recommended Economics Departments and Universities worldwide In the United States: Boston College, Cornel, Michigan State, Penn State, Rice, Rutgers, Texas A&M, University of California – Irvine, University of Illinois – Urbana-Champaign, University of Southern California, Pittsburg, Washington-Seattle, Vanderbilt, Washington State, Washington-St. Louis, Wisconsin-Madison. In Europe: European University Institute, Stockholm School of Economics, London Business School, Central European University, University of Manchester. In Asia: National Graduate Institute for Policy Studies (GRIPS), National University of Singapore. In Australia: National University of Australia, Sydney, Melbourne, South Wales