Economics
Ph.D. Program
The University of Tennessee’s Economics Ph.D. program is designed for ambitious scholars seeking to make a profound impact in academia, industry, and policy. With a focus on rigorous training in economic theory, quantitative methods, and cutting-edge research, our program prepares students to tackle complex global challenges. Join a community of dedicated faculty and peers committed to advancing economic knowledge and shaping the future.
Economics Ph.D. Program
About The Program
The Haslam College of Business’ Ph.D. in economics is a STEM designated program that combines rigorous work in economic theory and econometrics with the detailed study of real-world problems and institutions. Our position in the Haslam College of Business allows students to pursue interests in complementary fields such as finance and business analytics and ties with the Boyd Center for Business and Economic Research and the Howard H. Baker Jr. Center for Public Policy provide unique research opportunities.
The economics department has an energetic and collegial faculty with diverse interests that span most major fields of economics. Our faculty publishes in top general interest and economic journals, including the American Economic Review, Journal of Econometrics, Journal of International Economics, Journal of Public Economics and RAND Journal of Economics.
Our students are encouraged to collaborate with faculty, and many students have papers published or under revision at major journals when entering the job market. Our graduates work at major universities, government agencies, research centers, financial institutions and private companies. The normal time to degree is five years.
Economics Ph.D .Program
Information Session
The Economics Ph.D. program will host an online information session later this fall. Students and Professors currently active in the program invite everybody interested to join them to learn more about the program, the collaborative environment and living in the Knoxville area.
Date: November 20, 2024
Time: 4:30 – 6:00 pm (EST)
Location: Zoom link will be available after registration
Registration: Please register by completing the registration form.
Economics PH.D.
Admissions
Candidates for the Haslam’s Ph.D. in economics apply directly through the Graduate School. There is no separate department application process.
Complete applications include a GRE score. We do not have a minimum GRE score requirement. We encourage all applicants with a talent for quantitative reasoning, an interest in engaged learning opportunities and a preference for a collegial environment to apply.
The program generally enrolls six to eight students per year
Evaluation of Applications
We evaluate each application individually and comprehensively. Therefore, all information submitted with the application – including three recommendation letters, completed coursework, research interests, research experience, GRE scores, writing skills and programming ability – carry significant weight in admission decisions.
Economics PH.D.
Requirements
Students without an MBA may be required to take some background courses (accounting, finance, marketing, economics, management), depending on their previous coursework and experiences.
Clearly articulated interests within the field and a demonstrated desire to be placed at top research-oriented universities in the U.S. and globally are key considerations of the application. Strong recommendations and relevant work experience also play a significant role.
- Undergraduate Degree
All accepted, economics preferred - Master’s Degree
Not required - References
Three letters of recommendation - Acceptance rate
30-35% - Mean GPA
3.6 undergraduate, 3.8 graduate - Mean GRE-Quantitative
80th percentile - Mean GRE-Verbal
68th percentile
English Language Proficiency
- A total score of 80 on the internet-based TOEFL (iBT)
- A 6.5 overall band score on the IELTS
The TOEFL or IELTS is required for non-native English speakers, except students who have earned a degree from a U.S. institution within two years prior to enrollment.
Prerequisites
Recommended Coursework
- Intermediate Microeconomic Theory (Econ 311 or equivalent)
- Intermediate Macroeconomic Theory (Econ 313 or equivalent)
- Introduction to Econometrics (Econ 381 or equivalent)
- Introduction to Statistics (Stat 201 or equivalent)
- Calculus I and II (Math 141 and 142 or equivalent)
- Matrix Algebra I (Math 251 or equivalent)
Additional coursework in economics, statistics and mathematics is, of course, desirable.
New students are required to take a three-credit course in mathematical economics (ECON 581), which begins approximately three weeks before the first semester.
Oral Proficiency Exam
All students (including U.S. citizens and permanent residents) whose native language is not English are required to take the OPIc (Oral Proficiency Interview – computer). Admission to the program does not depend upon the results of the OPIc. Test results will be used in advising, determining coursework and making work assignments.
Economics PH.D.
Financial Aid
Applicants indicate as part of the admissions application whether they wish to be considered for funding. There is no separate application form.
We award approximately six to eight assistantships each year on a competitive basis. Assistantships pay approximately $23,500 per academic year. Assistantships also include a tuition waiver, health insurance and mandatory fees (i.e., library fee, technology fee, etc.). Financial support is typically offered for a duration of five years, conditional on good progress and academic standing.
Additional fellowships may be available for highly qualified applicants. Financial support for these fellowships is provided by generous donors and the Haslam College of Business.
Several additional financial awards are offered on a competitive basis during the program. These include:
- J. Fred and Wilma Holly Award for Excellence in Presented Research – $500
- J. Fred and Wilma Holly Award for Excellence in Research – $5,000
- J. Fred and Wilma Holly Award for Best First-Year Graduate Student – $5,000
- J. Fred and Wilma Holly Award for Published Research – $5,000
- Charles B. Garrison Award for Excellence in Teaching – $1,000
- Charles B. Garrison Award for Best Graduate Assistant – $1,000
Graduate Fellowships and Awards
The Graduate School provides fellowship opportunities to attract doctoral students and to support UT’s educational mission and diversity-related goals. Available fellowships include Tennessee Fellowships for Graduate Excellence and Carolyn R. Hodges Graduate Fellowships.
To guarantee consideration for these fellowships, submit your application as soon as possible. For a full list of available fellowships, visit the Graduate School’s fellowships and awards website.
Economics PH.D.
Key Dates
- Application Deadline
February 1
Economics PH.D.
Academic Information
The Ph.D. in economics is awarded to students who demonstrate professional competence through coursework, written qualifying exams, a second-year research paper and a dissertation. Students work on research of their interest in close collaboration with faculty in a collegial environment. Students complete coursework after the fifth or sixth semester of study. Research in progress by our students and faculty is presented at workshops that meet weekly throughout the academic year. Summer is usually devoted to research. Most students complete the program in five years.
Among the various progression requirements are qualifying examinations in microeconomic and macroeconomic theory, a second-year research paper and a dissertation. The general requirements for completion of the Ph.D. include core coursework, at least two fields of specialization, electives and dissertation credits.
Economics Ph.D. Curriculum
- Core: 21 hours
- Specializations: 12 hours
- Economics Electives: 6 hours
- Graduate Electives: 9 Hours*
- Dissertation: 24 Hours
*This requirement does not apply to those students who have completed a master’s degree prior to enrollment.
Electives
Students are required to complete two additional economics courses at the 500 level or above with a grade of B or better.
Students who do not have an M.A. in economics (or similar) prior to enrollment must take nine additional credits of graduate coursework (in economics or otherwise) to bring their total coursework hours to 48.
Students are strongly encouraged to take BUAD 583 – Teaching Preparation Seminar, offered during the summer mini-term, in their second year of study. This is a required course for students on a department assistantship, and for others who wish to have sole responsibility for teaching a course.
Students are also encouraged to take BUAD 540 – Academic Writing for Doctoral Students.
Core Courses
Students are required to complete core sequences in microeconomic theory, macroeconomic theory and quantitative methods.
ECON 581 – Mathematical Methods & Economics
ECON 511 – Microeconomic Theory I
ECON 513 – Macroeconomic Theory I
ECON 582 – Elements of Econometrics I
ECON 512 – Microeconomic Theory II
ECON 514 – Macroeconomic Theory II
ECON 583 – Elements of Econometrics II
Students must complete ECON 581 with a grade of B or better and complete ECON 582 and ECON 583 with a GPA of 3.0 or better or by qualifying examination.
Note: ECON 581 begins in early August, prior to fall semester courses. Incoming students should plan accordingly.
Specializations
Students must demonstrate competence in at least two fields of specialization in economics by completion of a two-course sequence with a GPA of 3.25 or better in each field, including grades of B or better in each field course.
Standard fields and associated course sequences include:
Behavioral & Experimental Economics – ECON 611, 612
Environmental Economics – ECON 677, 678
Industrial Organization – ECON 631, 632
International Economics – ECON 621, 622
Public Finance – ECON 671, 672
Alternative fields of specialization may be constructed using coursework within and from outside the department with the agreement of the graduate program director and the dissertation committee.
Dissertation
While pursuing their dissertation, students must be continually enrolled in ECON 600 – Doctoral Research and Dissertation, and complete at least 24 hours of the course.
Research
Ph.D. students work on research of their interest in collaboration with faculty in a collegial environment. Faculty support graduate students’ professional development and often publish co-authored research papers. See below for a list of recent graduate student publications and publications co-authored with faculty.
Several faculty members have joint appointments with other prominent units on campus that lead to research opportunities.
The Boyd Center for Business and Economic Research conducts research on national and state economic trends for the University of Tennessee, Knoxville, state agencies and public and private organizations.
The Baker School of Public Policy and Public Affairs, including the Center for Energy, Transportation and Environment and the Center for National Security and Foreign Affairs, focuses on research to address major domestic and international policy issues.
The Boyd Center and the Baker School routinely fund assistantships and collaborate with economics Ph.D. students on economics as well as interdisciplinary research.
EConomics PH.D.
Alumni Placement
Recent Placements
- 2024
Ryan Swartzentruber – Pacific Lutheran University, Assistant Professor of Economics
Diego Guerrero – Northwestern University, Lead Economist
Ivan Anich – OpenBlock Labs, Data Scientist - 2023
Ge Wu – Climate Advisors, Senior Associate - 2022
Richard H. Beem Jr – U.S. Census Bureau Economist
Michael Jacob Brown – United States Air Force, Major, Cost Analysis Program
Vasudha Chopra – Thapar School of Liberal Arts and Sciences, Assistant Professor
Bokseong Jeong – California ISO, Market Monitor Economist - 2021
Cora Elizabeth Bennett – Notre Dame University, Visiting Assistant Professor
Odysseus Bostick – Deloitte, Sr. Data Consultant
Eunsik Chang – Mississippi State University, Tenure Track Assistant Professor
John D. McMahan – University of Tennessee, Post-Doc
Hieu M. Nguyen – Illinois Wesleyan University, Assistant Professor, Tenure Stream - 2020
Duc Minh Cao – N/A
Md Sabbirul Haque – Concentrix Catalyst, Data Scientist
Md Deluair Hossen – Central Bank of Bangladesh, Director
Sangwon Lee – Korea Institute for Industrial Economics and Trade, Associate Research Fellow
Patrick McGuire – N/A
Benjamin Meadows – University of Alabama-Birmingham, Assistant Professor
Himadri Palikhe – Monument Economics Group, Senior Economist
Adrienne Sudbury – Longwood University, Assistant Professor
Tingsi Wang – Liaoning University, Assistant Professor
Dong Yan – Renmin University of China, Assistant Professor
Na Zuo – Shandong University, Assistant Professor - 2019
Marcus Bansah – Belmont University, Assistant Professor
Yinan Liu – Advance Financial, Research Associate
Yancheng Xiao – School of Economics and Management, South China Normal University, Assistant Professor - 2018
Rebecca Jade Davis – Stephen F. Austin State University, Assistant Professor
Charlton Eli Freeman – Chief, DOD Financial Management Environment, DFM & CS
Mary Elizabeth Glenn – University Murphy Institute, Postdoctoral Fellow
Ye Hong – University of South, Visiting Assistant Professor
Jinseong Park – Institute for Economic and Social Research, Jinan University
- 2017
Bilal Celik – Wake Forest University, Visiting Assistant Professor
Bongkyun Kim – University of Arkansas, Department of Agriculture Economics
Jing Li – University of Arkansas, Assistant Professor
Fanning Meng – Scotiabank, Global Model Risk Management Team, Senior Manager - 2016
Michael Philip Craig – Lynchburg College, Assistant Professor
Okila R. Elboeva – Lincoln Memorial University, Assistant Professor
Lawrence Dale III LaPlue – New Mexico State University, Assistant Professor
Shreekar Pradhan – KAPSARC, Senior Research Associate - 2015
Nicholas Busko – Salisbury University, Visiting Professor
Yin Chu – Zhongnan University of Economics and Law, Assistant Professor
Jie Deng – Southwestern University of Finance and Economics, School of Public Finance and Taxation
Matthew John McMahon – University of Arkansas at Little Rock, Assistant Professor of Economics
Thomas Clayton McManus – Xavier University, Assistant Professor in the Department of Economics
Shukhrat Usmonovich Musinov – Howard H. Baker Center for Public Policy, University of Tennessee, Post-Doc Researcher
Sangsoo Park – Korea Institute for Industrial Economics and Trade, Associate Research Fellow
Langchuan Peng – Zhongnan University of Economics and Law, Assistant Professor
Justin R. Roush – Georgia College and State University in Milledgeville, GA, Assistant Professor of Economics
Jillieah Gayle Welch – University of Tennessee Howard H. Baker Center for Public Policy, Research Associate III - 2014
Julianna Marie Butler – University of Delaware, Assistant Professor
Natalia Gritsko – Terry College of Business, Department of Economics
Ye Gu – Bank of the West, Risk Forecasting Modeling
Ahiteme Nicodeme Houndonougbo – Rollins College, Assistant Professor of Business and Social Entrepreneurship
Xiaowen Liu – Midwestern State University, Assistant Professor - 2013
Valentina Kozlova – The State University of New York – SUNY, Oswego, New York
Jens Schubert – Virginia Commonwealth University, Richmond, Virginia
Todd Richard Yarbrough – Aquinas College, Grand Rapids, Michigan