1. Dr. Laura Dawson Ullrich March 27, 2014

2.  Grade Point Average  Requirement varies, but most require a GPA of greater than 2.75  GRE/GMAT  Focus is on the quantitative portion of the exam  TOEFL (for international students)  English Speaking Exam (for international students)

3.  Math Courses  Varies by school, but typically includes… Calculus I Calculus II Calculus III Linear Algebra Differential Equations Statistics

4.  Stage 1: Core Classes  Culminates in comprehensive exams at the end of the first year in micro, macro, and sometimes econometrics  Stage 2: Field Courses  Culminates in field exams, a field paper and/or oral exams  Stage 3: The Dissertation  Generally a 2-3 year process of writing and research

5.  Unlike in many other countries, the vast majority of Economics PhD students in the US receive full funding of their studies  80 – 90 percent  These packages generally include the following:  Full tuition payment  Waiver of most/all student fees  A stipend received in exchange for 20 hours worked as a teaching or research assistant. Range somewhere between $13,000 and $25,000 per year.

6.  Located in Knoxville, Tennessee  21,171 students (21,033 undergraduate and 6,138 graduate)  11 Colleges  300+ Academic Programs

7.  Facts about the Economics Department  25 Faculty 6 Full Professors 8 Associate Professors 6 Assistant Professors 5 Lecturers  Administers 3 Undergraduate Degrees BA in Economics (Arts and Sciences) BBA in Economics (Business School) BBA in Public Administration (Business School)  36 Graduate Students Includes both Master’s and PhD No terminal Master’s program Over 50% of students are international

8.  Admissions Facts (from 2013 entering class)  Acceptance Rate: 37%  Number of Students Offered Funding: 22  Number Enrolled with Funding: 9  Mean GPA: 3.7  Mean GRE – Math: 163 (88 th percentile)  Mean GRE – Verbal: 158 (77 th percentile)

9.  Required Coursework at a Glance: Core:21 Hours Fields of Specialization: 12 Hours Economics Electives:6 Hours Graduate Electives:9 Hours Dissertation: 24 Hours Total 72 Hours (minimum of 8 semesters)

10. First Year  Semester 1:  Mathematical Methods and Economics (offered during pre-semester “math camp”)  Microeconomic Theory I  Macroeconomic Theory I  Elements of Econometrics  Semester 2:  Microeconomic Theory II  Macroeconomic Theory II  Elements of Econometrics II

11. Comprehensive Exams  At the end of the first year, students must take comprehensive exams in macroeconomics and microeconomics  Students take exams in June following the first year  Students can receive a grade of fail, pass at MA level, or pass at PhD level  Students who fail must retake the exam(s) again in August  If they fail the second time they are dismissed from the PhD program (but may continue in the MA program if course grades are satisfactory).

12. Second Year  Students begin field courses and electives. Four fields are offered. Each field course is offered every other year.  Public Finance  Environmental Economics  International Economics  Industrial Organization  Semester 1:  Field Course I  Microeconometrics  Elective I  Semester 2:  Field Course II  Time Series Econometrics  Elective II

13. Second Year “Field Paper”  Students must write a field paper in their second year, which is due July 29 th following the second year.  Students who do not ‘pass’ the field paper can resubmit the following December 1 st  Students are encouraged to work with an advisor who will become their dissertation advisor  Goal is to produce a publishable paper

14. Third Year  Continuation of Field Courses and Electives  Semester 1:  Second Field Course I  Elective III  Elective IV  Semester 2:  Second Field Course II  Elective V

15. Fourth Year  Dissertation committee is formed  4 committee members 3 from Economics Department and 1 from outside Primary advisor must be tenured (faculty members typically have no more than 2 PhD students at a time)  Dissertation proposal is defended  Attend conference(s)  Participate in research seminars

16. Fifth Year  Finish writing dissertation  Enter job market on October 1 st  Attend conference(s)  Participate in seminars

17.  Funded students can receive funding for five years. Students may appeal to received funding for a sixth year.  Students are assigned as teaching assistants, teaching associates or research assistants  “Better” jobs exist in the Center for Business and Economic Research, the Howard Baker Center and a couple of other university centers  Students receive $17,000 payment a year and also receive free health insurance  Including tuition waiver, this is a benefit of around $40,000 per year  Students must maintain a GPA of 3.25 to maintain funding.

18.  Professors in the US tend to have an ‘open door’ policy, so students have significant access to advisor(s).  Each graduate student is provided with an office (shared) as well as a computer and other office supplies.  Students have access to a 31 page Graduate Student Handbook that outlines all program requirements/guidelines.