Applied Economics Doctorate Degree Program Overview
An Applied Economics Doctorate Degree program is designed for individuals seeking to deepen their understanding of economic theories and their practical applications. This advanced degree prepares you for impactful research, policy analysis, and leadership roles within various sectors, including government, academia, and private industry.
Typically, to successfully complete an Applied Economics Doctorate Degree program, you can expect the following requirements and prerequisites:
Educational Background: A master's degree in economics or a related field is usually required. Some programs may accept candidates with a strong undergraduate background in economics, mathematics, or quantitative disciplines.
Coursework: You will likely complete advanced coursework that covers topics such as econometrics, microeconomic and macroeconomic theory, and applied statistical methods.
Quantitative Proficiency: A solid foundation in mathematics, particularly calculus and linear algebra, is essential. Your program may require you to demonstrate proficiency in statistical analysis and software relevant to economic research.
Research Methods: Familiarity with research methodologies is critical. You may need to take courses or demonstrate your ability to conduct independent research.
Comprehensive Examinations: Many programs require you to pass comprehensive exams that assess your understanding of core economic concepts and quantitative methods.
Dissertation: A significant component of your doctoral program will involve the development and completion of a dissertation. This research project must contribute original knowledge to the field of applied economics and is typically defended before a committee.
Residency Requirement: Some programs may have a residency requirement, necessitating attendance at specific workshops or seminars.
Engaging with faculty and participating in research projects are often encouraged to enhance your learning experience and networking opportunities within the field. As you progress through the program, you will be expected to develop a specialized knowledge base that positions you for leadership roles in applied economics.
Best Schools Offering Applied Economics Doctorate Degree Programs In U.S. 2024
View our ranking methodology hereTypical Courses for an Applied Economics Doctorate Degree Program (2024)
In a Doctorate Degree program in Applied Economics, you can expect to engage with a variety of courses that equip you with advanced analytical skills and economic theory. The following are typical courses included in such a program:
Microeconomic Theory: Explores the behavior of individual consumers and firms, utilizing mathematical models to analyze decision-making processes.
Macroeconomic Theory: Focuses on aggregate economic phenomena, including inflation, unemployment, and economic growth, using theoretical frameworks and empirical data.
Econometrics: Introduces statistical methods and tools essential for analyzing economic data and testing hypotheses, emphasizing both theoretical and practical applications.
Game Theory: Examines strategic interactions among rational decision-makers, covering concepts such as Nash equilibrium, dominant strategies, and extensive-form games.
Industrial Organization: Analyzes the structure, conduct, and performance of industries, exploring how firms compete and how market power is established.
Labor Economics: Studies the dynamics of labor markets, including employment, wage determination, and the role of government policies in shaping labor outcomes.
Public Economics: Investigates the role of government in the economy, focusing on taxation, public expenditure, and the social welfare implications of policy decisions.
Development Economics: Examines the economic challenges faced by developing countries, exploring policies aimed at growth and poverty reduction.
Time Series Analysis: Teaches methods for analyzing temporal data, enabling you to identify trends, seasonal patterns, and cyclical fluctuations in economic data.
Applied Econometrics: Focuses on the application of econometric techniques to real-world economic problems, often involving the use of statistical software for analysis.
Research Methods in Economics: Provides training in research design, qualitative and quantitative analysis, and effective communication of economic research findings.
Economic Theory Advanced Topics: Offers in-depth exploration of specialized areas within economic theory, potentially including behavioral economics or information economics.
Policy Analysis and Evaluation: Focuses on methodologies for assessing the impact of economic policies, providing tools for analyzing effectiveness and efficiency.
Field Specific Courses: Depending on your research interests, you may take specialized courses in areas such as health economics, environmental economics, or international economics.
These courses are designed to not only deepen your understanding of economic concepts but also to prepare you for research, teaching, and professional roles in academia, government, and the private sector.
How To Choose The Right Applied Economics Doctorate Degree Program (2024)
Choosing the right institution for your Applied Economics doctorate program is essential to your academic and professional success. Here are some key factors to consider as you evaluate potential schools and programs:
Program Accreditation: Ensure that the program is accredited by a recognized accrediting body. This is important for the credibility of your degree and can affect your job prospects upon graduation.
Curriculum Focus: Review the curriculum to see if it aligns with your interests and career goals. Look for programs that offer specialized areas of study within Applied Economics, such as labor economics, health economics, or environmental economics.
Faculty Expertise: Investigate the faculty’s academic backgrounds and research interests. Faculty members with experience in your area of interest can provide valuable mentorship and networking opportunities.
Research Opportunities: Explore the availability of research projects and resources. Engaging in research can enhance your learning experience and improve your employability after graduation.
Program Reputation: Look for rankings and reviews of the programs you are considering. Institutional reputation can influence your marketability in the job market, so aim for schools with strong overall and program-specific standings.
Location and Networking: Consider the geographic location of the school and its proximity to economic hubs where you might want to work. Schools in major cities may offer better networking opportunities and internships.
Financial Considerations: Assess the affordability of the programs you are interested in, including tuition, fees, and cost of living. Investigate funding options such as assistantships, fellowships, and grants that can help alleviate financial burdens.
Alumni Network: Research the school's alumni network. A strong network can provide connections for job placements, internships, and collaborative projects.
Class Size and Format: Consider the class size and the format of the classes (online, in-person, or hybrid). Smaller classes may offer more personalized attention and collaboration, while your preferred format will influence your learning experience.
Interdisciplinary Opportunities: Evaluate whether the program offers interdisciplinary opportunities, allowing you to take courses in related fields such as public policy, statistics, or finance. This can broaden your understanding and application of economic principles.
Visit the Campus: If possible, visit the school’s campus. This can give you insight into the environment, culture, and facilities that can enhance your education. Meeting with current students and faculty can also provide valuable perspectives.
By thoroughly examining these aspects, you can make a well-informed decision about which Applied Economics doctorate program is the best fit for your academic journey and career aspirations.
Top Careers in Applied Economics 2024
| Design Cost Analyst |
| Trend Forecaster |
| Decision Support Consultant |
| Macroeconomics Lecturer |
| Applied Economics Professor |
| Economic Theory Teacher |
| Budget Analyst |
| Cost Estimator |
| Equity Research Analyst |
| Derivatives Strategist |
| Route Optimization Analyst |
| Inventory Accuracy Coordinator |
| Economic Research Analyst |
| Applied Econometrics Scientist |
Applied Economics Doctorate Degree Program Resources (2024)
For those interested in enrolling in a Doctorate Degree program in Applied Economics, numerous resources and tools can facilitate your journey. Here are some valuable options to consider:
Professional Associations
- American Economic Association (AEA): AEA provides access to resources, conferences, and publications related to economics. Membership is beneficial for networking and staying updated in the field. Visit AEA for more information.
Academic Journals
- Journal of Applied Economics: Reading peer-reviewed articles can deepen your understanding of the current research landscape. Access the journal at Journal of Applied Economics.
- The Review of Economics and Statistics: This journal offers insights into empirical research that applies economic theory. Find it at The Review of Economics and Statistics.
Online Course Platforms
- Coursera: Offers various courses from accredited universities that can help you strengthen your quantitative, statistical, and economic modeling skills. Check it out at Coursera.
- edX: Another platform that provides courses in economics and data analysis from top institutions to prepare you for graduate-level work. Visit edX.
Research Databases
- JSTOR: A digital library for academic journals, books, and primary sources in many disciplines, including economics. Use this resource for extensive literature reviews. Access at JSTOR.
- EconLit: The American Economic Association's electronic bibliography, which indexes journal articles, books, and dissertations in economics. Find it at EconLit.
Data Resources
- Federal Reserve Economic Data (FRED): This database offers a wealth of economic data that can be useful for research projects throughout your program. Explore FRED at FRED.
- World Bank Open Data: Access datasets related to global economic conditions, development, and public indicators. Visit World Bank.
Networking and Mentorship
University Resources
- Graduate School Websites: Review the specific Applied Economics doctoral programs at universities of interest. Examine faculty profiles, research interests, and available resources.
- Advising Offices: Utilize academic advising services at your prospective schools for assistance with admissions, funding opportunities, and program requirements.
Engaging with these resources can greatly enhance your understanding of the field and prepare you for the rigorous demands of a Doctorate Degree in Applied Economics.
Applied Economics Doctorate Degree Program FAQs (2024)
What is a Doctorate in Applied Economics? A Doctorate in Applied Economics is an advanced academic degree focusing on the practical application of economic theories and quantitative techniques. It prepares you for high-level research, policy analysis, and teaching roles.
What are the prerequisites for entering a Doctorate program in Applied Economics? Typically, you need a master’s degree in economics or a related field. Strong quantitative skills, particularly in statistics and calculus, are essential. Some programs may require GRE scores.
How long does it take to complete a Doctorate in Applied Economics? Most programs can be completed in 4 to 6 years, depending on the structure of the program, your pace, and the time spent on dissertation research.
What core subjects will I study during my Doctorate? Core subjects often include advanced microeconomics, macroeconomics, econometrics, and specialized topics like labor, health, and environmental economics.
What is involved in the dissertation process? The dissertation involves conducting original research that contributes to the field of applied economics. You will identify a research question, develop a methodology, collect and analyze data, and present findings.
Are there opportunities for teaching during my Doctorate? Many programs encourage or require teaching assistantships. This provides valuable teaching experience and can help you finance your education.
What career opportunities are available after earning a Doctorate in Applied Economics? Graduates commonly pursue careers as university professors, researchers for think tanks, consultants, or policy analysts in government and private sectors.
How do I fund my Doctorate in Applied Economics? Funding options include scholarships, fellowships, research assistantships, and teaching assistantships. It's advisable to check with the specific program for available funding opportunities.
Can I study part-time for my Doctorate in Applied Economics? Some programs offer part-time study options, although they may take longer to complete. Be sure to verify this with the specific institution.
What skills will I gain from a Doctorate in Applied Economics? You will develop advanced analytical and quantitative skills, expertise in economic modeling, data analysis, and the ability to communicate complex ideas effectively.
Is it necessary to publish research during my Doctorate? While not mandatory, publishing research in academic journals is highly encouraged and often enhances your academic profile, particularly if you plan to pursue a career in academia.
How do I choose the right program for my Doctorate? Consider factors such as faculty expertise, research opportunities, program reputation, location, and financial support. It’s beneficial to align your research interests with those of the faculty.
What is the job market like for PhD holders in Applied Economics? The job market is generally favorable, particularly in government, academia, and consulting. Skills in data analysis and economic modeling are in high demand across various sectors.