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Economics, PhD
The graduate economics program at Penn is a Ph.D. program administered by the Graduate Group in Economics, which consists of the faculty of the Department of Economics, and some of its secondary appointments in the Wharton School and the School of Arts and Sciences. A master's program in Economics is not offered at the University of Pennsylvania.
The program trains students to conduct outstanding research in economics. All major areas of economics are covered, with particular strengths in theoretical and empirical microeconomics, and in modern macroeconomics. Graduates of the program obtain positions at leading universities, research institutions, and government agencies around the world.
Students in this program first acquire a thorough knowledge of economic theory and econometric methods before they begin their own research. They meet a series of requirements during their first years in the program, and thereafter devote most of their time to the writing of a dissertation. The median length of time required for completion is 5.25 years (however both shorter and longer periods are possible). Almost all students are supported by combinations of fellowships, research assistantships, and teaching assistantships during at least their first five years of study.
For more information: http://economics.sas.upenn.edu/graduate
View the University’s Academic Rules for PhD Programs .
Required Courses
A minimum of 16 course units are required. A minimum of 12 course units must be taken at the University of Pennsylvania.
The degree and major requirements displayed are intended as a guide for students entering in the Fall of 2023 and later. Students should consult with their academic program regarding final certifications and requirements for graduation.
Sample Plan of Study
By the end of the 3rd year in residence, students must have passed four 7000-level ECON courses (excluding 7100, 7110, 7200, 7210, 7300, 7310, 8100, 9110, 9200, 9300, 9400 and 9450, the workshops) with a grade of A- or higher. Credits must total 16 before going on dissertation status.
The Empirical requirement is often fulfilled after students finish taking the four upper level courses requirement.
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Wharton’s PhD program in Finance provides students with a solid foundation in the theoretical and empirical tools of modern finance, drawing heavily on the discipline of economics.
The department prepares students for careers in research and teaching at the world’s leading academic institutions, focusing on Asset Pricing and Portfolio Management, Corporate Finance, International Finance, Financial Institutions and Macroeconomics.
Wharton’s Finance faculty, widely recognized as the finest in the world, has been at the forefront of several areas of research. For example, members of the faculty have led modern innovations in theories of portfolio choice and savings behavior, which have significantly impacted the asset pricing techniques used by researchers, practitioners, and policymakers. Another example is the contribution by faculty members to the analysis of financial institutions and markets, which is fundamental to our understanding of the trade-offs between economic systems and their implications for financial fragility and crises.
Faculty research, both empirical and theoretical, includes such areas as:
- Structure of financial markets
- Formation and behavior of financial asset prices
- Banking and monetary systems
- Corporate control and capital structure
- Saving and capital formation
- International financial markets
Candidates with undergraduate training in economics, mathematics, engineering, statistics, and other quantitative disciplines have an ideal background for doctoral studies in this field.
Effective 2023, The Wharton Finance PhD Program is now STEM certified.
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PhD Program
Wharton’s PhD program in Statistics provides the foundational education that allows students to engage both cutting-edge theory and applied problems. These include problems from a wide variety of fields within Wharton, such as finance, marketing, and public policy, as well as fields across the rest of the University such as biostatistics within the Medical School and computer science within the Engineering School.
Major areas of departmental research include: analysis of observational studies; Bayesian inference, bioinformatics; decision theory; game theory; high dimensional inference; information theory; machine learning; model selection; nonparametric function estimation; and time series analysis.
Students typically have a strong undergraduate background in mathematics. Knowledge of linear algebra and advanced calculus is required, and experience with real analysis is helpful. Although some exposure to undergraduate probability and statistics is expected, skills in mathematics and computer science are more important. Graduates of the department typically take positions in academia, government, financial services, and bio-pharmaceutical industries.
Apply online here .
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Phone: (215) 898-8222
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How Can a Behavioral Economics Lens Contribute to Implementation Science?
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SarahBeth Boothe: Blending Economics With Compassion For Others
May 8, 2024 By Grant Hawkins '98
- Former Students
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SarahBeth Boothe '23, a senior economics major at Texas A&M University, embodies a rich family tradition with a unique twist. While both her grandfather, John Barry Hart (Class of 1956), and her mother, Shari Hart Boothe (Class of 1985), proudly hail from Texas A&M, SarahBeth's father, Raymond Boothe, took a different path: He graduated from the school in Austin that will soon join the Aggies in the Southeastern Conference (SEC).
Despite this divided loyalty in the family, SarahBeth's connection to Texas A&M is deeply rooted. As a freshman, she lived in Hart Hall, the same dormitory her grandfather called home more than six decades ago. And luckily for SarahBeth, her dad saw the light while attending school in Austin when he met her mom.
"Dad proposed to my mom at Bonfire," SarahBeth said. "They have been married for over 30 years now."
A native Texan, SarahBeth is set to graduate later this week with a Bachelor of Science in Economics, a minor in financial planning and a Master of Science in Economics with a financial concentration within the Department of Economics . Her academic journey at Texas A&M has been defined by outstanding achievements and a genuine dedication to serving others, inspired by strong familial ties to her mom and older sister.
"Mom played a pivotal role in my decision to attend Texas A&M," SarahBeth said. "From an early age, she instilled in me a profound love for this school. It's been a good decision."
This profound love of being an Aggie led to one of her most memorable moments as a student at Texas A&M — surprising her mother with a new Aggie Ring.
"Mom's ring was so worn down, you could barely tell it was an Aggie Ring," SarahBeth said. "She had expressed interest in exchanging hers for a new one, but she was attached to her ring and couldn't justify the price of a new one. I knew she wanted a new ring, and I felt she deserved it."
Going in "halfsies" with her dad, SarahBeth orchestrated the touching surprise by presenting her mother with a brand-new ring under the giant ring at The Association of Former Students last September. As SarahBeth described it, the moment symbolized the unconditional, selfless, patient, kind and unfailing love her mother has always shown her and her sister throughout their upbringing.
"My mom is the most selfless person I know," SarahBeth said. "She continually sacrificed herself for us and taught us what it means to serve others. Finding out you have a special needs child, my sister Hannah Joy, can be hard for any parent. However, my mom has always seen my sister for what she is: perfectly and wonderfully made. It's impossible not to be motivated to give back to someone so incredible."
SarahBeth's older sister, Hannah Joy, was diagnosed with a developmental disability when she was young. She experiences mental delays and has learning challenges, including ADHD and dyslexia. She reads at a 2nd-grade level and may not progress beyond that. However, she doesn't face physical limitations and has developed strong social skills worthy of an honorary second name, Joy.
"My sister's name is just Hannah," SarahBeth explained. "But my family calls her Hannah Joy because she is always joyful. She is only a couple of years older than I am, but growing up, we became very close, and she is my best friend. She has taught me what it means to love others unconditionally and how never to meet a stranger."
Hannah Joy also has a profound love for horses, which has inspired SarahBeth throughout her academic journey at Texas A&M and her pursuit of a career in economics, mainly in financial planning.
"She has always adored horses, and I've wanted to ensure my sister has a wonderful life, giving her ample opportunities to enjoy this passion," SarahBeth said. "From the start, I believed that studying economics would provide me with a versatile foundation for pursuing almost any career path."
The decision has proven to be a rewarding one. During her time at Texas A&M, SarahBeth has achieved significant accolades, including two prestigious scholarships within the Financial Planning Program — the Diversity in Financial Planning Scholarship and the '80 Ags in Financial Planning Scholarship. She has served as vice president of the Financial Planning Student Association and is a proud member of the program's A&Mbassador organization. Just last week, she was named Group Fitness Instructor of the Year in Texas A&M Rec Sports , where she teaches seven different classes, including cycling, rowing and Pilates. A full-time position in financial planning awaits her after walking the stage at Reed Arena on Thursday.
"I plan on attaining the Chartered Special Needs Designation and working with families with special needs dependents to help them plan for their future," SarahBeth said. "Economics has provided me with such a good foundation for financial planning and has allowed me to pursue my dream career."
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The graduate economics program at Penn is a Ph.D. program administered by the Graduate Group in Economics, which consists of the faculty of the Department of Economics, and some of its secondary appointments in the Wharton School and the School of Arts and Sciences.A master's program in Economics is not offered at the University of Pennsylvania.. The program trains students to conduct ...
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