phd thesis in public financial management

Public Finance and Financial Management - PhD

This field is concerned with the formulation, implementation, and evaluation of policies and procedures surrounding the use of resources and raising of revenues by public and non-profit entities. The primary emphasis is on nonprofit and healthcare organizations, and state and local governmental bodies, although some attention is given to the federal government and international settings as well.

Microeconomics is the most important disciplinary background for the field. Principles of efficient resource allocation as well as equity in outcome are used to analyze both the internal operations of organizations and their external environment. In other words, the study of: (1) financial management (internal to the organization), and (2) public finance (external to the organization) are combined. Common methodologies used to study finance issues are multivariate statistical analysis, techniques of managerial accounting, and finance and case studies. Students in the public finance and financial management field must complete the modules in microeconomic analysis and in applied statistics and econometrics.

Research in the areas of public finance and financial management often requires depth of knowledge in a specific area, such as education finance, financial management of nonprofit organizations, or tax policy. Such depth of knowledge involves both a foundation gained from coursework, as well as significant study of literature beyond the material covered in coursework.

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ANALYSING INTEGRATED PUBLIC FINANCIAL MANAGEMENT REFORMS: A CASE STUDY OF GHANA

ODURO, KWADWO,NYAMEKYE (2020) ANALYSING INTEGRATED PUBLIC FINANCIAL MANAGEMENT REFORMS: A CASE STUDY OF GHANA. Doctoral thesis, Durham University.

Public sector accounting reforms have a vast potential to impact on the developing world (Hopper et al., 2016) but the explication of reform performance is only partial in the neo-classical economics framework. Accounting scholars have called for a deeper understanding of the context and conditions of accounting reforms in the less developing countries and emerging economies (LDCs/EEs) (van Helden and Uddin, 2016; Nyamori et al.,2017; Hopper et al., 2016; Goddard and Mkasiwa, 2016; Manning and McCourt, 2013; Abdul-Rahaman et al., 1997). This research sets out to understand the context of the public financial management (PFM)reforms using Ghana as an example of LDCs/EEs. The tools embedded in the institutional logics approach (ILA) are mobilised, as a meta-theoretical framework encompassing symbolic interactionism and grounded theory, to offer a constructivist-interpretivist account of the reforms. This research found that accounting changes through the PFM reforms in Ghana have been challenging to implement, and reforms outcomes have been poor to mediocre. Empirically, this study identified budget credibility as the core category in public sector accounting reforms in Ghana. The reform outcomes are reflected and constituted in the budget logics, such as over-centralization of controls, gaming, and unpredictability of flow of funds to the ministries, departments and agencies (MDAs), that have constrained the reforms. This study relates the core category to the other five main empirical categories, namely: accountability, professionalism, and financial re-engineering, automation, and policy credibility) which emerged from the study. Longitudinally, the research found that, dating back to the pre-independence era, only limited improvements have been made in the transformation of the public financial management practices to support economic development in Ghana. Opportunities to decentralize financial controls were not taken the 1980s, and the successive recent reforms have only centralized both the reforms and financial management controls. This research explains why sub-optimal accounting practices endure, the paradox of embeddedness, and constraints and possibilities of collective action to effect accounting change through reforms. The study examines the dynamics and the interplay of budget credibility and the other categorical elements within the “vampire state”, and the impact of hegemonic influences of the international community on local actors institutionalised in the polities through objectification and exteriorisation of culture. The implications of the budget credibility are explored further through the development of a substantive theory on the reforms, a processual analysis, and interinstitutional orders comprising national community logics, state logics, and international community logics that shape public sector accounting change in Ghana. This research opens up the possibility of further theoretical and empirical studies in other resource dependent countries where reforms are influenced by external donor development partners.

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Street-Level Judgments: How the Role of Judges Influences the Decision to Collaborate in Juvenile Courts 

The Influence of Business Interest Groups in Urban Policymaking: An Empirical Exploration of a Low Salience Policy Setting 

Beyond Adoption: The Influence of Local Institutional Arrangements on Sustainability Policy Implementation and Management 

Three Essays on the Economics of For-Profit Colleges 

What Happens at the Intersection of Policy and Practice? Examining Role Conflict and Professional Alienation of Occupational Therapy Professionals in Complex Environments 

OMBUDS AND TITLE IX COORDINATORS: PROCEDURAL CONVERGENCE OF UNIVERSITY DISPUTE RESOLUTION MECHANISMS FOR HANDLING SEXUAL MISCONDUCT 

Financial Health of Nonprofit Organizations 

The Effect of Collaboration on Performance in Public Management: Evidence from Community Policing 

Accountability Remade: The Diffusion and Reinvention of Offices of Inspectors General 

Does the Race of Police Officers Matter? Police Officers on Interactions with Citizens and Police Procedures 

Pathways to Change: Explaining the Effectiveness in Community Based Development Organiztions 

Specifying and Testing a Multi-Dimensional Model of Publicness: An Analysis of Mental Health and Substance Abuse Treatment Facilities 

FOLLOWING THE LEADER OR LEADING THE FOLLOWER? THE EFFECTS OF MISSION-DRIVEN VS. LEADER-DRIVEN COMMUNITY PARTICIPATION 

Rule Bending and Red Tape: Organizational and Individual Influences and the Effect of Ethical Climate 

COST ACCOUNTING IN US CITIES: TRANSACTION COSTS AND GOVERNANCE FACTORS AFFECTING COST ACCOUNTING DEVELOPMENT AND USE 

Sustainable Public Administration: the Search for Intergenerational Fairness 

Administrative morality in Colombia 

Welcoming the Outsider: Local Construction of the Law towards Immigrants 

Public Management as Citizen Compliance: A Case Study of Income Tax Compliance Behavior in Thailand 

Collective Bargaining in Municipal Government: How Unionization Impacts Employee's Attitudes, Behaviors, and Values 

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This is a collection of some recent PhD theses from Business and Management. Please note that this is not a comprehensive list of all doctorate degrees from this School.

This material is presented to ensure timely dissemination of scholarly and technical work. Copyright and all rights therein are retained by authors or by other copyright holders. All persons copying this information are expected to adhere to the terms and constraints invoked by each author's copyright. In most cases, these works may not be reposted without the explicit permission of the copyright holder.

Recent Submissions

When engagement promises meet business realities: an analysis of strategies, tensions, and roles in the extractive industries , idiosyncratic deals in context: a three-paper thesis , study of pre-professionalisation processes: the case of corporate social responsibility in the uk , revealing the value of social media data in forecasting tourism demand: evidence from twitter , essays on consumer behaviour and marketing strategies , three essays on social innovation , how life course turning points influence protean career attitudes and aspirations in later career , invisible hand with visible heart: a multi-level study of impact investing in the united kingdom , quit playing games with your customers: the brand damaging consequences of gamblified promotions in digital retailing , essays on financial development and corporate resilience to crises , essays on the impact of government assistance, capital regulation, and covid-19 on banks , some aspects of financial management in farming , dynamic multi-state delinquency models: incorporating repeated events, stress testing analysis and multiple lending products , towards an ecosystem view of legitimacy of third sector organisations , impact of institutional complexity on the role of middle managers as agents of change in the public sector , performative perspective on organisational change and stability: a case study of embodiment, inclusion, and temporality in changing routines in the royal air force , trickster characters: the tomboy & the girlboss, or gender as a thin-centred ideology inherent to technological innovation under capitalism , understanding roles in a broker retail venture in the creative industries , three essays on modern microstructure , mathematical programming for single- and multi-location non-stationary inventory control .

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Digital Commons @ USF > Muma College of Business > Management > Theses and Dissertations

Management and Organization Theses and Dissertations

Theses/dissertations from 2023 2023.

For Love or Money: Investor Motivations in Equity-Based Crowdfunding , Jason C. Cherubini

The Great Resignation: An Exploration of Strategies to Combat School Bus Driver Shortages in the Post-COVID-19 Era , James E. Cole Jr.

An Empirical Analysis of Sentiment and Confidence Regarding Interest Rates in Disclosures of Public Firms in the U.S. Fintech Sector , James J. Farley

Motivations for Planning: Uncovering the Inhibitors to the Adoption of Comprehensive Financial Planning for Business Owners , Daniel R. Gilham

An Examination of Reward-Based Crowdfunding Performance and Success , Matthew Alan Grace

All Quiet on The Digital Front: The Unseen Psychological Impacts on Cybersecurity First Responders , Tammie R. Hollis

Commitment to Change Dimensions: The Influence of Innovative Work Behavior and Organizational Environments , Michael Holmes

Turmoil in the Workforce: Introduction of the Nomadic Employee , Catrina Hopkins

Attention-Grabbing Tactics on Social Media , Arjun Kadian

Theses/Dissertations from 2022 2022

Building a Mentor-Mentee Maturity Model , Leroy A. Alexander

Do Auditors Respond to Changes in Clients’ Analyst Coverage? Evidence from a Natural Experiment , Mohammad Alkhamees

Designing a Messaging Strategy to Improve Information Security Policy Compliance , Federico Giovannetti

Are all pictures worth 1,000 words? An Investigation of Fit Between Graph Type and Performance on Accounting Data Analytics Tasks , Shawn Paul Granitto

An Enterprise Risk Management Framework to Design Pro-Ethical AI Solutions , Quintin P. McGrath

Deceptive Appeals and Cognitive Influences Used in Fraudulent Scheme Sales Pitches , Rafael J. Toledo

Using Online Reviews to Identify How Hotels Can Satisfy Travelers With Pets While Making Money , Sonia Weinhaus

Theses/Dissertations from 2021 2021

The IS Social Continuance Model: Using Conversational Agents to Support Co-creation , Naif Alawi

The Use of Data Analytic Visualizations to Inform the Audit Risk Assessment: The Impact of Initial Visualization Form and Documentation Focus , Rebecca N. Baaske (Becca)

Identification of Entrepreneurial Competencies in I-Corps Site Teams at the University of South Florida , Mark A. Giddarie

Understanding Nonprofit Boards: An Exploratory Study of the Governance Practices of Regional Nonprofits , Susan Ryan Goodman

Strengthening the Entrepreneurial Support Community , Andrew J. Hafer

Who to Choose? Rating Broker Best Practices in the Medicare Advantage Industry , Darwin R. Hale

Bridging the Innovatino Gap at SOCOM , Gregory J. Ingram

Improving Environmental Protection: One Imagined Touch at a Time , Luke Ingalls Liska

Residential Curbside Recycle Context Analysis , Ntchanang Mpafe

Fighting Mass Diffusion of Fake News on Social Media , Abdallah Musmar

Managing Incomplete Data in the Patient Discharge Summary to Support Correct Hospital Reimbursements , Fadi Naser Eddin

GAO Bid Protests by Small Business: Analysis of Perceived and Reported Outcomes in Federal Contracting , David M. Snyder

Engagement and Meaningfulness as Determinants of Employee Retention: A Longitudinal Case Study , Calvin Williams

Public Budgeting as Moral Dilemma , Ben Wroblewski

Theses/Dissertations from 2020 2020

Improving Engagement: The Moderating Effect of Leadership Style on the Relationship Between Psychological Capital and Employee Engagement , Scott Beatrice

Physician Self-Efficacy and Risk-Taking Attitudes as Determinants of Upcoding and Downcoding Errors: An Empirical Investigation , Samantha J. Champagnie

Digital Identity: A Human-Centered Risk Awareness Study , Toufic N. Chebib

Clarifying the Relationship of Design Thinking to the Military Decision-Making Process , Thomas S. Fisher

Essays on the Disposition Effect , Matthew Henriksson

Analysis of Malicious Behavior on Social Media Platforms Using Agent-Based Modeling , Agnieszka Anna Onuchowska

Who Rises to the Top: An Investigation of the Essential Skills Necessary for Partners of Non-Big 4 Public Accounting Firms , Amanda K. Thompson-Abbott

Theses/Dissertations from 2019 2019

The Financial and Nonfinancial Performance Measures That Drive Utility Abandonments and Transfers in the State of Florida , Daniel Acheampong

Locating a New Collegiate Entrepreneurship Program, a Framework for a University Campus , Douglas H. Carter

Understanding Employee Engagement: An Examination of Millennial Employees and Perceived Human Resource Management Practices , Danielle J. Clark

The Potential Impact Radius of a Natural Gas Transmission Line and Real Estate Valuations: A Behavioral Analysis , Charles M. Hilterbrand Jr.

Introducing a Mobile Health Care Platform in an Underserved Rural Population: Reducing Assimilations Gaps on Adoption and Use via Nudges , Joseph Hodges

Controlling Turnover in an Inside Sales Organization: What are the Contributing Factors , Dennis H. Kimerer

An Emergent Theory of Executive Leadership Selection: Leveraging Grounded Theory to Study the U.S. Military's Special Forces Assessment and Selection Process , Darryl J. Lavender

Essays on Migration Flows and Finance , Suin Lee

The Underutilized Tool of Project Management - Emotional Intelligence , Gerald C. Lowe

Increasing the Supply of the Missing Middle Housing Types in Walkable Urban Core Neighborhoods: Risk, Risk Reduction and Capital , Shrimatee Ojah Maharaj

Playing Darts in the Dark: How are Chamber of Commerce Leaders Aligned for Greater Effectiveness? , Robert J. Rohrlack Jr.

Are Transfer Pricing Disclosures Related to Tax Reporting Transparency? The Impact of Auditor-Provided Transfer Pricing Services , Stephanie Y. Walton

Theses/Dissertations from 2018 2018

Price Transparency in the United States Healthcare System , Gurlivleen (Minnie) Ahuja

How to Build a Climate of Quality in a Small to Medium Enterprise: An Action Research Project , Desmond M. Bishop III

Banking on Blockchain: A Grounded Theory Study of the Innovation Evaluation Process , Priya D. Dozier

Enhancing the Design of a Cybersecurity Risk Management Solution for Communities of Trust , James E. Fulford Jr.

An Examination of the Progressive and Regressive Factors that Business Owners Consider When Choosing Whether or Not to Implement an Exit Strategy , David C. Pickard

The Relationship between Ambient Lighting Color and Hotel Bar Customer Purchase Behavior and Satisfaction , Kunal Shah

The Unmanned Aerial Systems (UASs) Industry and the Business Impacts of the Evolution of the Federal Regulatory Environment , Darren W. Spencer

Intercultural Communication Between International Military Organizations; How Do You Turn a ‘No’ Into a ‘Yes’? , Douglas A. Straka

Essential Leadership Skills for Frontline Managers in a Multicultural Organization , Janelle Ward

Moffitt Cancer Center: Leadership, Culture and Transformation , W. James Wilson

Two Essays on String of Earnings Benchmarks , Yiyang Zhang

Theses/Dissertations from 2017 2017

Multi-Step Tokenization of Automated Clearing House Payment Transactions , Privin Alexander

The Effect of Corporate Social Responsibility Investment and Disclosure on Cooperation in Business Collaborations , Sukari Farrington

What Factors during the Genesis of a Startup are Causal to Survival? , Gilbert T. Gonzalez

The Great Recession of 2007 and the Housing Market Crash: Why Did So Many Builders Fail? , Mohamad Ali Hasbini

The Effect of Expanded Audit Report Disclosures on Users’ Confidence in the Audit and the Financial Statements , Peter Kipp

An Examination of Innovation Idea Selection Factors in Large Organizations , Troy A. Montgomery

Essays on Sales Coaching , Carlin A. Nguyen

Vital Signs of U.S. Osteopathic Medical Residency Programs Pivoting to Single Accreditation Standards , Timothy S. Novak

Leaders Who Learn: The Intersection of Behavioral Science, Adult Learning and Leadership , Natalya I. Sabga

Toward a Systemic Model for Governance and Strategic Management: Evaluating Stakeholder Theory Versus Shareholder Theory Approaches , James A. Stikeleather

A Longitudinal Study of the Effects of Cognitive Awareness Training on Transaction Processing Accuracy: An Introduction to the ACE Theoretical Construct , John Townsend

Theses/Dissertations from 2016 2016

The Effect of Presentation Format on Investor Judgments and Decisions: Does the Effect Differ for Varying Task Demands? , Kevin Agnew

Theses/Dissertations from 2014 2014

Multi-Task Setting Involving Simple and Complex Tasks: An Exploratory Study of Employee Motivation , Maia Jivkova Farkas

Essays on Mergers and Acquisitions , Marcin Krolikowski

Do Social Biases Impede Auditor Reliance on Specialists? Toward a Theory of Social Similarity , Rina Maxine Limor

Theses/Dissertations from 2013 2013

Psychological Distance: The Relation Between Construals, Mindsets, and Professional Skepticism , Jason Rasso

Theses/Dissertations from 2011 2011

Combining Natural Language Processing and Statistical Text Mining: A Study of Specialized Versus Common Languages , Jay Jarman

An Empirical Investigation of Decision Aids to Improve Auditor Effectiveness in Analytical Review , Robert N. Marley

The Effects of Item Complexity and the Method Used to Present a Complex Item on the Face of a Financial Statement on Nonprofessional Investors` Judgments , Linda Gale Ragland

Theses/Dissertations from 2010 2010

Two Essays on Information Ambiguity and Informed Traders’ Trade-Size Choice , Ziwei Xu

Theses/Dissertations from 2008 2008

Two Essays on the Conflict of Interests within the Financial Services Industry-- Financial Industry Consolidation: The Motivations and Consequences of the Financial Services Modernization Act (FSMA) and “Down but Not Out” Mutual Fund Manager Turnover within Fund Families , Lonnie Lashawn Bryant

Two Essays on Multiple Directorships , Chia-wei Chen

Two Essays on Financial Condition of Firms , Sanjay Kudrimoti

A Study of Cross-Border Takeovers: Examining the Impact of National Culture on Internalization Benefits, and the Implications of Early Versus Late-Mover Status for Bidders and Their Rivals , Tanja Steigner

Two Essays on Corporate Governance⎯Are Local Directors Better Monitors, and Directors Incentives and Earnings Management , Hong Wan

Theses/Dissertations from 2007 2007

The Role of Ethnic Compatibility in Attitude Formation: Marketing to America’s Diverse Consumers , Cynthia Rodriguez Cano

Two Essays on Venture Capital: What Drives the Underpricing of Venture CapitalBacked IPOs and Do Venture Capitalists Provide Anything More than Money? , Donald Flagg

Two essays on market efficiency: Tests of idiosyncratic risk: informed trading versus noise and arbitrage risk, and agency costs and the underlying causes of mispricing: information asymmetry versus conflict of interests , Jung Chul Park

The impact of management's tone on the perception of management's credibility in forecasting , Robert D. Slater

Uncertainty in the information supply chain: Integrating multiple health care data sources , Monica Chiarini Tremblay

Theses/Dissertations from 2006 2006

Adolescent alcohol use and educational outcomes , Wesley A. Austin

Certificate of need regulation in the nursing home industry: Has it outlived its usefulness? , Barbara J. Caldwell

The impacts of the handoffs on software development: A cost estimation model , Michael Jay Douglas

Using emergent outcome controls to manage dynamic software development , Michael Loyd Harris

The information technology professional's psychological contract viewed through their employment arrangement and the relationship to organizational behaviors , Sandra Kay Newton

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Thinking of Pursuing a PhD in Economics? Info on Graduate School and Beyond

Kasey Chatterji-Len and Anna Kovner

Becoming a PhD economist can provide a fulfilling and financially secure career path. However, getting started in the field can be daunting if you don’t know much about the preparation you’ll need and the available job opportunities. If you’re wondering what it means to be an economics researcher or how to become one, please read on. We’ll review how to prepare for a career in economics research, what an economics PhD program entails, and what types of opportunities it might bring. Economic education is a core component of the Federal Reserve Bank of New York’s mission to serve the community. To empower would-be economists, this post provides information for students who seek a career in economics research. We hope this information will be helpful to students interested in economics, regardless of their background and economic situation.  This information is most applicable to students applying to programs in the United States.  

The Breadth of Economics Research  

Academic disciplines conduct research in different ways, so it’s important to have a basic understanding of the types of questions economists ask and how they approach answering them. There are many definitions of economics, but a broadly useful one is the study of how people, organizations, and governments make decisions under different constraints, and how those decisions may affect their outcomes. 

When answering these questions, economists seek to ground their analyses in models and to be quantitatively precise about the effects they assign to any given cause. The range of topics economists can study is wide, but the accepted approaches to answering questions are stricter. Some examples of what economists might ask: 

• How do different public housing programs affect the children who live there? 
• Does a certain type of law encourage businesses to innovate? 
• How will a change in the interest rate affect inflation and unemployment rates? 
• How much does affordable health insurance improve people’s health? 
• How can poor countries eradicate poverty? 

There are many different subfields within economics, including, but not limited to behavioral, econometrics, energy/environmental, development, financial, international, monetary, public, and urban economics. You can familiarize yourself with the latest work in economics by subscribing to working paper series, such as NBER’s New This Week or the New York Fed’s Staff Reports . To get an idea of the breadth of questions economists can answer, you could listen to Stephen Dubner’s “ Freakonomics Radio ” podcast. You may also want to explore the Journal of Economic Perspectives , the New York Fed’s Liberty Street Economics blog, VoxDev , or VoxEU .  

What Is a PhD Program Like?    

Economics PhD programs typically last five to seven years. Unlike masters programs, they are often fully funded with a stipend, though most require students to complete teaching assistant and/or research assistant (RA) work as part of their funding package. In the first two years, students take classes, many of which are mathematically demanding. The rest of the program can include additional classes but is primarily devoted to original research with the aim of producing publishable papers that will constitute the dissertation.  

Faculty advisors are a central part of PhD programs, as students look to them for guidance during the research process. Economics PhD programs are offered within university economics departments, but there are similar programs in public policy and business schools. You can look at their websites to understand any differences in coursework and subsequent job placements. 

What Can You Do with an Economics PhD?  

Upon graduation, students can obtain jobs in a variety of industries. Many PhD students hope to become university professors. Governments and public policy-related institutions such as the Federal Reserve System, the U.S. federal government, the World Bank, and the International Monetary Fund (IMF) also hire economists to work on policy, lead programs, and conduct research. Finally, economics PhD graduates can also find employment at a variety of private sector companies, including banks, economic consulting firms, and big tech companies. The pay for these different positions can vary. According to the American Economics Association (AEA), the average starting salary for economics assistant professors in 2022-23 was approximately $140,000 at PhD granting institutions and $98,000 at BA granting institutions. 

Programs often publish the placements of their PhD graduates, so you can look online to see specific employment outcomes. See, for example, the University of Maryland’s placements . Ultimately, economists are highly regarded as authorities on a variety of topics. Governments, nonprofits, philanthropic foundations, financial institutions, and non-financial businesses all look to economists to answer important questions about how to best achieve their goals. Thus, earning an economics Ph.D. can potentially help you to influence issues that are important to you. 

Preparing for an Economics PhD Program  

There are several components to an economics PhD program application: college transcripts, GRE scores, letters of recommendation, and personal statements. Please download the Appendix linked below to learn more about transcripts and letters of recommendation. The Appendix details ways in which you can select coursework, obtain research experience, and develop relationships to position yourself for success as a PhD applicant.  

If you feel that you are too far along in your academic career to take enough of the classes described in the Appendix, this does not necessarily preclude you from pursuing an economics PhD. For example, it’s possible to take some of these classes through a master’s program, or through a pre-doctoral RA job. Some pre-doctoral RA jobs, such as the one here at the New York Fed , may enable you to take classes in preparation for graduate school. If you are concerned about your transcript, reach out to an economist at your university for advice; program standards for coursework and grades vary, and it’s a good idea to get more personalized advice. 

Research Experience   

If you’re interested in becoming an economics researcher and applying to PhD programs, it’s best to get research experience as soon as possible. Working as an RA is a great way to learn how to conduct research and get a better idea of whether it’s the right career path for you. Additionally, it can help you obtain a letter of recommendation for graduate school applications and improve your qualifications.  

All types of academic research can be enriching, but it’s beneficial to gain experience working directly with an economist. To find a position, you can reach out to professors whose work you find interesting or find an RA program at your school. Typical RA tasks may involve data collection and cleaning, as well as running analyses and creating charts to represent results. This is where coding skills become crucial; having taken math, statistics, and econometrics courses will also enable you to take on more responsibilities. 

You may also have the opportunity to conduct your own research, possibly under the supervision of a professor at your university. This research could be self-initiated or part of a course such as a thesis workshop. Self-directed research is a great opportunity to learn about all stages of the research process. It’s also an excellent opportunity to create a writing sample for graduate school applications. Ultimately, though, your motivation for conducting your own research project should be that you want to answer a question.  One thing economists have in common is a love of answering questions using data and theory. 

Research experience is also often obtained after completing an undergraduate or master’s degree. Taking on a full-time RA position before applying to PhD programs is very common and can make you a more competitive applicant. You may either get an RA job working for a professor or participate in a pre-doctoral RA program.  

Research assistant programs are more structured than positions with individual professors or projects, which could be helpful. Universities, parts of the government, think tanks, research organizations, and the Federal Reserve System are all good places to look for research assistant programs. To help you decide which opportunities are most desirable, you may want to ask potential employers : Where do people in this program tend to go afterward? Will I be working directly with an economist? How much of my time will be spent on academic research work? Will I be able to take classes as part of this program? Considering whether an economist will be able to evaluate your performance is an important factor for recommendation letters. The ability to take classes, either through tuition reimbursement or waivers, can also be an important benefit. 

The Research Analyst program here at the Federal Reserve Bank of New York is one example of these programs and you should check it out here . The Federal Reserve Board of Governors also has a large program, and many other regional Federal Reserve Banks have similar programs. In addition, the PREDOC website and the  NBER post listings of RA opportunities. J-PAL and IPA also tend to recruit RAs for economic development projects. Another source of RA opportunities is the @econ_ra account on X. 

Who Should Get a PhD in Economics?  

A PhD may not be for everyone, but it is for anyone—people of all genders, religions, ethnicities, races, and national origins have PhDs in economics. Many economists majored in economics, but others majored in math, physics, or chemistry. Because economics is such an integral part of policymaking, it is important that economists come from a wide range of backgrounds so policy can be stronger and more effective. The inclusion of differing perspectives helps ensure that the contribution of economists to work in public policy, academia, and beyond effectively serves the broadest range of society. 

• Coursework Appendix

Kasey Chatterji-Len is a research analyst in the Federal Reserve Bank of New York’s Research and Statistics Group.

Anna Kovner  is the director of Financial Stability Policy Research in the Bank’s Research and Statistics Group.

How to cite this post: Kasey Chatterji-Len and Anna Kovner, “Thinking of Pursuing a PhD in Economics? Info on Graduate School and Beyond,” Federal Reserve Bank of New York Liberty Street Economics , May 31, 2024, https://libertystreeteconomics.newyorkfed.org/2024/05/thinking-of-pursuing-a-phd-in-economics-info-on-graduate-school-and-beyond/.

You may also be interested in: AEA: Resources for Students

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INVITATION FOR PHD DEFENCE - Alessandro Spina

In order to obtain the PhD degree, Alessandro Spina has submitted his thesis entitled:

Essays in Financial Markets and Beliefs

This thesis examines the information in asset prices and how macroeconomic expectations are formed. Chapter 1 finds there is unique information contained in the loan spreads of syndicated loans. This information can improve forecasts of economic conditions. Chapter 2 studies how information can be slow to spread within an asset class. I show information takes time to diffuse within the syndicated loan market. Finally, in Chapter 3 I expand my focus to study how agents form expectations of macroeconomic variables. All three chapters document new empirical facts that deepen our understanding of financial markets and belief formation.

The thesis will be available from research.cbs.dk

Primary Supervisor: Professor David Lando Department of Finance Copenhagen Business School

Secondary Supervisors: Professor Dr Daniel Streitz Halle Institute for Economic Research Friedrich Schiller University Jena

Assessment Committee: Professor Charlotte Østergaard (Chair) Department of Finance Copenhagen Business School

Professor Rainer Haselmann House of Finance Goethe University Frankfurt

Associate Professor Florian Peters University of Amsterdam – Business School University of Amsterdam

Date : 10 June 2024 Time : 15:00-17:00 Online : Teams *Please note that the microphone and camera of all spectators must be turned off.

Location : Solbjerg Plads Room: SPs05 PwC Danmark Reception : FUHU

*The CBS PhD School will host a reception, which will take place immediately after the defence.