Economic Analysis & Policy

Strengths of the PhD Program in economic analysis and policy include theoretical and empirical industrial organization, game theory, information economics, the economics of incentives, and personnel economics.

The PhD Program in economic analysis and policy prepares students for research careers in economics. Students interested in applied economics receive rigorous training in theory and quantitative methods. Those interested in theory receive instruction in economic institutions and empirical analysis.

Students are encouraged to complement their economics courses with courses in mathematics, statistics, game theory, and optimization.

Distinct Advantages

While offering training comparable to, but perhaps more focused than, that received by graduate students in highly ranked economics departments, the Stanford GSB program has distinct advantages:

First, enrollment in the program is small. This encourages close faculty-student contact and allows students to become involved in research. Students work first as assistants on faculty research projects and, as their interests and skills develop, on their own research. Students often begin their publishing careers before completing their degrees.
Second, the program is flexible and innovative; students can draw on both the school’s and the university’s distinguished faculty. Students have access to the full range of political and behavioral sciences as well as to economic theory; to accounting and finance as well as to mathematics and statistics; to game theory and decision theory as well as to econometrics; and to public policy analysis as well as to the specialized fields of economics.
Third, the program is part of a top-ranked professional school. This setting allows students to gain a deeper understanding of the actual processes of business decision-making and public policy formulation.

Preparation and Qualifications

Students who enroll in this program have a substantial background in economics and mathematics. They are expected to have, minimally, mathematical skills at the level of one year of advanced calculus and one course each in linear algebra, analysis, probability, optimization, and statistics.

The faculty selects students based on predicted performance in the program. Evidence of substantial background or ability in the use of mathematical reasoning and statistical methods is important. Most successful applicants had quantitative undergraduate majors in economics, mathematics, or related sciences.

In addition to evidence of ability and letters of recommendation, the faculty considers carefully the applicant’s statement of purpose for pursuing the PhD degree. The successful applicant usually has clearly defined career goals that are compatible with those of the program.

Acceptance into the program is extremely competitive. Admitted applicants compare very favorably with students enrolled in the top economics departments of major universities.