economics phd personal statement

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Letters of Recommendation

• Writing Personal Statements
• Each school will ask you to write a personal statement. While the prompts vary across schools, generally a personal statement will ask you to describe your research interests, qualifications, and career goals.
• Schools vary in their importance of the personal statement, but it is an area that students tend to have a lot of questions about.
• The personal statement should be clear and well-written. Be realistic about your career goals. While showing interest in research in economics is important, don’t spend too much time describing your passion for economics. This will be unlikely to persuade admissions committees. Get to specifics as soon as possible.
• For example, be as specific as possible in describing your past research and course experiences. For example, instead of writing, “I was a research assistant to Professor X and learned a lot through that experience”, spell out exactly what you did. Did you implement data analysis for Professor X? Was that analysis based on a recent methodological advance that you needed to figure out? What type of analysis was it? How did you solve the problems that occurred when implementing the analysis? Be as specific as possible. If you relied on coursework (for example, you proofread and edited a proof in a paper), mention the mathematical background that allowed you to accomplish this task.
• You should describe potential research interests, but you don’t need to know exactly what you would like to research in graduate school. Interests change, and it is unlikely admissions committee will place tremendous stock in the specifics of your research proposal. In describing potential research, you should write clearly about your interests and show that you understand how to discuss a potential research project in economics. You can ask an advisor or letter-writer to look over your personal statement.
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Chris Blattman

Phd applicants: writing your statement of purpose.

• January 11, 2022

I’ve read a lot of personal statements for PhD applications. I sat on admissions at UChicago, Columbia, and Yale, mostly in economics, political science, and public policy. Here’s the advice I’ve given my own students and research assistants to craft their statements. I give it because, sadly, I don’t find most statements helpful. This means they are not helping you, the applicant.

As with all my advice posts, it’s important that students outside elite colleges get this information, so here are some personal thoughts.

[Note: You can now subscribe by email to receive posts to your inbox.]

First, let’s clarify your number one job as an applicant: Send the best, clearest signal of your abilities as a future researcher, and minimize the noise around that signal. I explain why in a longer post on whether and how you should apply to PhD programs (including the other elements of an application packet):

the fundamental problems in graduate admissions are “information overload” and “noise”. For every slot in a PhD program, there are probably 30 to 50 applicants. A department that plans to have a class of 20 students may receive 1000 applications. Meanwhile, most departments delegate admissions to a small committee of two to six faculty. They don’t have time to read 1000 applications in detail. And the committee may change every year. Thus, their experience may be limited. And you never know who will be on the committee or what they care about. This adds further randomness. These faculty want to admit the most talented and creative young researchers who will push the field ahead. And they also want you to pass all the most technical classes, because they hate kicking students out. So the admissions committee are looking for strong signals of intelligence, creativity, determination, and other proclivities for research. But this is hard . There are too many applications. Applicants don’t have many good ways to signal quality. All applicants are trying to send the same signals. And there is a ton of uncertainty around each signal. Hence: Information overload and noise.

Yet most schools as for a written statement of some kind. Sometimes they ask for both a biographical statement and a research statement. What do they want and what should you write?

• Don’t tell your life story. This statement is not an undergrad entry essay where you describe your life’s trials and tribulations, or your journey to wanting to do a PhD. It’s not that we don’t care. It’s just that it’s probably not relevant to judging your ability as a researcher. If it is, then weave that into the narrative around your research interests and plans. We have hundreds of these things to read and so you only want to focus on the most important information.
• Don’t be cliché. Do not start your with your epiphany—the day the scales fell from your eyes and you realized you wanted to be a professor, or were inspired tackle big questions and social issues. Especially if it involves a child in a poor country. This approach is overused and unoriginal, and the information does not help us judge whether you will be a great researcher (see point 1).
• Platitudes about wanting to be a professor or researcher
• Generic or flattering statements about being excited to join a program, your admiration for the faculty, etc.
• Unspecific interests in a research subject or field
• Routine information such as “I am graduating in May…”
• Filler sentences like “Please find enclosed…”
• Start with your broad fields of interest (e.g. “I am principally interested in labor and development economics” or “I want to work at the intersection of comparative politics and international relations”)
• Then give 2-3 examples of broad topics and questions that interest you. (“I’m interested in studying inefficiencies in labor markets, especially market power and monopsony. I’m also interested in…”)
• Are tenure or tenure-track faculty
• Have their primary appointment in the department you are applying to
• Are actually there and take students (i.e. they didn’t retire last year, etc.)
• You could discuss two ideas in moderate depth, or one idea in greater depth. Either way, I recommend this research discussion be 40-60% of your entire statement.
• Ideally this is a question or topic of current interest in the field. One thing I often see is that students are focussed on the research frontier 10 years ago (because those are the papers they read in their classes) and are not clued in to some of the current puzzled and priorities. This is hard to avoid, but some reading and your advisors should be able to help you avoid this.
• The best discussions will (if empirical) identify interesting data and discuss plausible empirical strategies. This is difficult, which is why it is a good signal if you do it well.
• It’s important to locate your question in the literature without overdoing that discussion. Try to motivate the question with reference to recent and recognizable research papers and agendas. If you are mainly citing articles with few citations, in lower-ranked journals, this is a sign that you need to link your idea to bigger debates in the field, or perhaps rethink the question you are proposing.
• This is (in my experience) the most crucial section for most social science departments. Except possibly economics. It’s not clear how seriously many departments take your statement in economics, and some of my colleagues profess to never look at the statement. That may be true, but some will look, and you have to have a statement, so I suggest following this advice to make it a research proposal.
• Why you studied physics but now are doing political science
• What happened in that single bad semester on your transcript
• How to interpret your foreign GPA, and where you ranked in your class
• Clarify your classes if they have off names (e.g. “My class called XX was a Real Analysis class using textbook X, and so I have all the mathematical requirements for entry.”
• Get help. Your letter writers, professors you work for, or PhD student you know can read and give feedback on your statements. Ask them for their advice. Do this early–a couple months before the application, ideally. they can help you frame your question in a more interesting way, decide what papers to mention, or what is or is not frontier.
• Don’t be repetitive. This is not the place to restate your CV (“First I worked for Professor… and then I worked for…”). They have your CV. Use this document to do something no other in your application can do. Only mention work or other experience if you can add essential, high-density information the reader cannot get elsewhere in the application packet. Maybe you picked up specific technical skills working on a project that relate to the research proposal you just described? If not, you don’t have to say anything at all about your past. Just let the research proposal speak for itself.
• I recommend using the Hemingway Editor as a tool to write more clearly. Some long and complex sentences are ok, but sparingly. And they can often be improved. Aim for a grade 10 reading level.
• Use active voice
• Omit needless material and words (see points 3 and 9)
• Limit jargon
• Each paragraph should be a distinct idea
• Paragraphs should have a hierarchical structure, with the big idea or general point as the first topic sentence, and the rest of the paragraph elaborates. Someone should be able to get an “executive summary” but simply reading the first line in every paragraph. they should make sense as a story/summary.
• Use subheadings if possible, to delineate sections such as your broad fields of interest (point 4), your research proposal (point 5), and other key information (point 6)

This is just my view. Other professors will have different preferences and advice here. So ask them. Get more opinions. Or put your advice in the comments below.

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Admissions information to the ph.d. program in economics.

Students may enter the Ph.D. program  only in the fall . Applicants must present evidence of a baccalaureate degree or its equivalent, or show that they can expect such a degree by the time they begin graduate work. The University requires that applicants utilize the  CollegeNet  on-line application system. Applicants must upload a personal statement and their transcript (unofficial or official) from each university attended. If an applicant is accepted into our program then they must provide an official transcript mailed directly to the Graduate School of Arts and Sciences. Three letters of recommendation are also required, usually from professors who can judge the student's potential for high-quality academic work. Results of the Graduate Record Examination (GRE) must also be submitted. This test should be taken as early as possible to ensure that the results are received in time to be considered by the admissions committee.  Our GRE institution-department code is 2926-1801 . International students must submit a TOEFL score unless they have or will receive an undergraduate degree from a college/university in the US, Canada, UK, Australia, New Zealand, South Africa, or Ireland or they have completed, at the time of application, four semesters of graduate study at an institution in the above mentioned countries.

The program's goal is to admit 16 students a year. Applicants should be aware that the admissions committee reviews a large number of applications (over 600 last year). Our decisions on admission and financial aid are facilitated when application materials are clearly presented, well written, and concise. The committee tries to form an image of the intellectual and personal qualities of applicants, and then admits those who seem most likely to do high quality work. All applicants are encouraged to provide a personal statement (see below) and any additional information that might help the admissions committee in their task. For example, students might wish to submit research papers that they have written or a description of some major job experience related to economic analysis. 

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Proficiency in mathematics is crucial for successful completion of the first year of study, in the Department of Economics, at the University of Pennsylvania.

A minimal level of preparation  consists of two years of mathematics courses in college, including courses in:

• multivariable calculus
• probability theory and statistics
• linear algebra

An excellent level of preparation  consists of additional courses in:

• real analysis
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• measure-theoretic probability theory

We strongly suggest you obtain an excellent level of preparation, for your application to be competitive.

Requirement for Personal Statement:

In the personal statement, all Ph.D. applications within the Graduate Division of Arts & Sciences should address the following: Please describe how your background and academic experiences have influenced your decision to pursue a graduate degree and led you to apply to Penn. Your essay should detail your specific research interests and intellectual goals within your chosen field. Please provide information about your educational trajectory, intellectual curiosity and academic ambitions. If you have overcome adversity and/or experienced limited access to resources or opportunities in your field of study, please feel free to share how that has affected the course of your education. We are interested in your lived experiences and how your particular perspective might contribute to the inclusive and dynamic learning community that Penn values and strives to create.

In the Economics Graduate Group, we also ask that applicants discuss their relevant research experience, if any, that make Penn Economics a good fit for what you would like to accomplish in your PhD. Your statement can include specific fields of interests and specific faculty members that you think could be potential advisors. 

Deadline for admission:

All applications must be completed and submitted by 11:59pm eastern US standard time on December 15th. The admissions committee then examines completed applications which have been received. Notification of its decision is sent by April 15th.

Follow this link to apply on-line:  CollegeNet

7 Economics Personal Statement Examples | With Analysis

What makes a great personal statement?

How do you improve your chances of achieving a university offer in economics?

In this post I will give some personal statement examples and discuss what the best economics personal statements do well.

Key features that great personal statements share

Disclaimers, evolution of economics personal statements, what makes a great economics personal statement, key features that great personal statements share: a reminder, lots of supercurricular activities, personal insights about such activities, demonstrate key skills, a well written essay, more economics personal statement advice, latest posts.

This diagram shows my summary of what makes a great economics personal statement. Based on my experience as an economics tutor and economics personal statement examples, here are four qualities that make personal statements stand out.

I explore these categories further below and in my ultimate economics personal statement guide.

For my ultimate economics personal statement guide, check out the link below:

Firstly, here is a list of ten economics personal statement examples available online.

Also below, there is analysis of what makes a great economics personal statement.

To learn how to improve your economics personal statement, check out the link below by clicking the blue button:

I cannot guarantee that the personal statements linked above achieved the university offers claimed on those pages. Nor can I claim that each statement is 100% perfect.

By linking to these sites, I do not endorse any of the sites linked above.

You should not copy any part of the personal statements above. Doing so is plagiarism and can lead to the disqualification of your university application. Instead learn from the techniques and kinds of things mentioned in their statements. See specifically the rest of this article for what we can learn from these personal statements.

A proportion of the samples above are relatively old (five to ten years ago or more).

For some universities the personal statement is more important for applications. Consider for example LSE and UCL, top universities where there are no admissions tests or interviews.

We can look at more recently written and publicly available personal statements.

Based on these, here are some observable trends in recent years among the best performing economics personal statements:

• More supercurriculars relative to the above personal statements.
• More reference to undergraduate-level economic theory. This can show further reading and an ability to potentially do well in the undergraduate course.

In this section I am drawing on my experience as a tutor about what makes a great personal statement. I am also using the available online examples of economics personal statements and the criteria listed by the top UK universities.

Such statements are by no means always perfect, yet they show the qualities and skills that allow students to attend the best universities.

These examples allow us to analyse what makes a great personal statement and also where students often go wrong with personal statements.

As a reminder, here are the four features of great economics personal statements mentioned above:

• Lots of supercurriculars
• Highlighting key skills
• Personal takeaways

Here is a breakdown of these categories:

What activities have you completed, outside of class, that relate to economics? Have you read a book, entered an economics-related competition, or watched an economics lecture? These are examples of supercurricular activities. I consider these a key focus for the best personal statements and I discuss these further in my economics personal statement ebook. These show your motivation to study economics which will be critical if you want to study the subject for three years at university.

For more on supercurricular activities, click the link here:

These are what I refer to as “personal takeaways” later in this guide. What did you learn from the supercurricular activity? Detail is very important, both for showing a high level of understanding and also to convince the person reading your statement that you actually completed the activity. This should go beyond just recalling the activity – maybe there is something you learnt from this activity or something you read that you disagreed with. We discuss how to write about personal takeaways in the ebook.

For more information about how to use supercurricular activities in your statement, including how to generate personal insights, click this button below:

Obviously you should try to show academic ability in economics and motivation to study economics. But what other skills are useful to show in a personal statement? 

While there are many skills that could potentially be useful, I draw your attention for now to two key skills: Ability in mathematics and independent study (including research). Evidence from supercurricular activities that you have these skills will help convince admissions staff. Moreover these skills will help you in the economics course.

What constitutes a “well written essay”? 

Your personal statement should be well structured, with effective links between ideas and paragraphs. The grammar should be completely correct, that is  there should be no mistakes. 

Finally consider your vocabulary – can you embed economics-related terminology into your personal statement? You can use a thesaurus but do so with caution – sometimes it is obvious where a thesaurus has been used (and often the new word used does not make sense in that context!).

For more economics personal statement tips or for economics university application advice, check out the link below:

For A-level Economics resources, click the link here:

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About the author

Helping economics students online since 2015. Previously an economist, I now provide economics resources on tfurber.com and tutor A Level Economics students. Read more about me here .

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How to Write a Personal Statement for a PhD Program Application

Personal statement guidelines, general guidelines to keep in mind:.

• One size does not fit all : Tailor your personal statement to each program and department you are applying to. Do your research to learn what is unique about each of your choices and highlight how this particular program stands out.
• Yes, it’s personal : Showcase your unique strengths and accomplishments. Explain what influenced your personal decisions to pursue the program. Ask yourself, could this be applied to your friend or neighbor? If so, you need to be more specific and provide examples. Saying that you are a “good scientist” isn’t enough. Provide examples of your previous research experience, projects you’ve completed, and what technical skills you learned. Explain how you overcame any challenges along the way.
• Set aside enough time :  Although personal statements are generally short in length (approx. 700 words; 1-2 pages), give yourself ample time to write a strong, well-written statement. It takes more time than you think to develop a final draft for submission.
• Focus on your spelling, grammar, and vocabulary :  It’s important to present a well-written statement with good grammar and vocabulary. Write concrete, succinct sentences that flow well. Avoid flowery language. Visit the  Writing Center  for additional review and feedback.
• Proofread one more time:  Check your grammar and spelling again before submitting your final draft. Ask a friend, professor, or advisor to proofread your final draft one more time before sending it in. 

YOUR PERSONAL STATEMENT SHOULD ANSWER THE FOLLOWING QUESTIONS:

• Why do you want to complete further research in this field?  Write down a list of reasons as to why you are interested in pursuing further study in the field. When did you become interested in the field and what knowledge have you gained so far? Describe how your previous work provided the foundation and for further study.
• Why  have you  chosen to apply to this particular university ? Does the institution have a particular curriculum, special research facilities/equipment, or interesting research that appeal to you?
• What are your strengths ? Demonstrate how you stand out from other candidates. Highlight relevant projects, dissertations thesis or essays that demonstrate your academic skills and creativity. Include IT skills, research techniques, awards, or relevant traveling/ study abroad experience.
• What are your transferable skills?  Be sure to emphasize transferable skills such as communication, teamwork, and time management skills. Give examples of how you have demonstrated each of these with specific examples.
• How does this program align with your career goals?  It’s okay if you don’t know the exact career path you plan to take after completing your PhD. Provide an idea of the direction you would like to take. This demonstrates commitment and dedication to the program.

ADDITIONAL RESOURCES

For examples of successful personal statements, visit the  Online Writing Lab (OWL) .

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Writing the Personal Statement

Helpful tips and advice for drafting a compelling personal statement when applying for graduate admission.

Make sure to check the appropriate program website to find out if your statement should include additional or specific information.

What does this statement need to accomplish?

The personal statement should give concrete evidence of your promise as a member of the academic community, giving the committee an image of you as a person.

This is also where you represent your potential to bring to your academic career a critical perspective rooted in a non-traditional educational background, or your understanding of the experiences of groups historically under-represented in higher education and your commitment to increase participation by a diverse population in higher education.

What kinds of content belongs here?

Anything that can give reviewers a sense of you as a person belongs here; you can repeat information about your experiences in your research statement, but any experiences that show your promise, initiative, and ability to persevere despite obstacles belongs here. This is also a good place to display your communication skills and discuss your ability to maximize effective collaboration with a diverse cross-section of the academic community. If you have faced any obstacles or barriers in your education, sharing those experiences serves both for the selection process, and for your nomination for fellowships. If one part of your academic record is not ideal, due to challenges you faced in that particular area, this is where you can explain that, and direct reviewers’ attention to the evidence of your promise for higher education.

The basic message: your academic achievement despite challenges

It is especially helpful for admissions committees considering nominating you for fellowships for diversity if you discuss any or all of the following:

• Demonstrated significant academic achievement by overcoming barriers such as economic, social, or educational disadvantage;
• attendance at a minority serving institution;
• ability to articulate the barriers facing women and minorities in science and engineering fields;
• participation in higher education pipeline programs such as, UC Leads, or McNair Scholars;
• Academic service advancing equitable access to higher education for women and racial minorities in fields where they are underrepresented;
• Leadership experience among students from groups that have been historically underrepresented in higher education;
• research that addresses issues such as race, gender, diversity, and inclusion;
• research that addresses health disparities, educational access and achievement, political engagement, economic justice, social mobility, civil and human rights, and other questions of interest to historically underrepresented groups;
• artistic expression and cultural production that reflects culturally diverse communities or voices not well represented in the arts and humanities.

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The Graduate Record Examination (GRE) will no longer be accepted for the application to the Economics PhD Program. 

The PhD program offers admission for the fall term only. Our application process is handled centrally through the University of Michigan's Rackham Graduate School. Your application must be submitted with the Rackham Graduate School application process by 11:59pm EST on December 1.

All admissions materials (application and supplemental materials) must be received by the Rackham Graduate School by the December 1st deadline. This includes the application, all official transcripts, test scores (TOEFL, IELTS), and all three letters of recommendation. There are no exceptions to this deadline.

There is no separate application form for financial aid. Access to the online application is at the Rackham Graduate School's Admissions Website

All applicants must submit the following material: 

• Application Form (including Academic Statement of Purpose, Personal Statement, and CV) 
• Application Fee
• Transcripts for each bachelor’s, master’s, professional, or doctoral degree earned or in progress. The Admissions Committee will review uploaded transcripts with university logs during the application process. The Rackham Graduate School requires applicants to submit an official transcript after an offer of recommendation of admission is made. Check the Rackham Graduate School website at  www.rackham.umich.edu  for further details.
• Three letters of recommendation. Ideally, letter writers should be able to attest to your capacities to flourish in a top PhD program in economics and to your capacity to do independent research. If you are currently attending a graduate program, we recommend submitting at least one letter from a faculty member in that graduate program. All three letters must be submitted through the online application system by 11:59pm EST on December 1. 
• Valid, official score reports of TOEFL (if applicable) sent by ETS to code 1839 - no departmental code is needed.

Do NOT submit the following material to the Economics Department specifically:

• Unofficial transcript(s) printed from your institution’s student portal (a screen print of a transcript)
• List of textbooks from your coursework
• List of economics, mathematics, and statistics courses and grades
• Writing sample other than your Academic Statement of Purpose and your Personal Statement
• Paper copy of TOEFL score reports

The application evaluation process for the doctoral program in economics is done online.

NOTE: The doctoral admissions committee reviews applications for admissions electronically.

• ALL documents must be uploaded through the Rackham Graduate School application. 
• Do not send any hard-copy transcripts or materials to the Economics department either by postal mail or email.

For current U-M PhD students interested in setting up an Individually Interdepartmental Degree program (IIDP), also known as the Student Initiated Degree Program (SIDP), and adding Economics as a dual degree with your home program, please see our  joint programs  page or the Rackham Website regarding this unique program.

For questions regarding admissions please send an email to [email protected]

For questions regarding your specific application status or which application materials have arrived, please check your Wolverine Access Friend Account under "New and Prospective Student Business." Instructions on setting up your Friend Account and how to check your status are here.

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Statement of academic purpose

While all programmes require you to submit a statement of academic purpose, a few programmes require you to follow a specific format when writing your statement. these specific requirements are detailed below., statement of academic purpose – all programmes, excluding those listed below.

You must upload a statement that explains your academic interest in, understanding of and academic preparedness for the programme(s) you are applying for. You should also explain the academic rationale for applying to the programme(s) you have chosen. If applying for two programmes, you are strongly encouraged to write a separate statement for each programme. The statement of academic purpose is an important part of your application, and selectors are looking for evidence of your academic suitability and motivation, and of what you can contribute academically to the programme. We expect statement(s) to be between 1,000 - 1,500 words. 

Please address the following questions/prompts in your statement(s) 

Academic Motivations  

• What prompted your interest in this particular field of study? Perhaps you have unanswered questions from your undergraduate studies or professional work, or you would like to further explore issues and ideas raised in your curricular or extra-curricular reading? 
• Why would you like to study your chosen programme? Perhaps it offers a particular approach, or there are specific modules that will help you develop necessary skills or knowledge. Perhaps the research interests of the academics teaching on your programme, and/or the wider research culture of the department align with your own interests and academic/professional aspirations? 

Suitability 

• What makes you suitable for this LSE programme? Perhaps you have taken relevant undergraduate modules, or have relevant professional, voluntary, or other experience that has prepared for postgraduate study in this area? 

Purpose and Objectives  

• What do you hope to get out of this particular LSE programme? How would this particular programme help you to achieve your personal, academic, and professional goals? Take the time to explain your academic or professional  aspirations and goals, and how your chosen programme will impart the necessary skills and knowledge. Please avoid general statements about LSE’s performance in global rankings, and  generic statements about London being a global/cosmopolitan centre of excellence. 

If there are circumstances that have disrupted your education/significantly interfered with your learning (for example, health problems, displacement, long-term caring responsibilities), please feel free to let us know about them in a separate document added to your application (you can upload this document via the ‘Additional Item’ upload option). If appropriate, please also consult the advice we give to applicants from a forced migration background here , and from a care-experienced background here . 

Please ensure that your statement(s): 

Are all your own work. If we discover this is not the case, your application may be cancelled

Are well-written, well-structured and specific to the programme(s) applied for

Are proofread before being uploaded, and the final correct versions are uploaded

Only include that which is relevant to your programme choice(s). Additional information regarding unrelated extra-curricular activities, personal achievements or work experience should be included in your CV

Have your name and the title of your chosen programme in the header or footer of every page 

MSc Health Data Science

In addition to following the general guidance, please be sure to clearly outline your background in mathematics, statistics or other quantitative subjects. If your background is outside of mathematics or statistics then you should provide further explanation of how your experience is relevant to the programme applied for, as well as further details of your current studies. 

MSc Media and Communications (Data and Society)

If you are applying for this programme, please note the following specific requirements for your statement of academic purpose.

Write a short statement (up to 600 words) about why you want to do the programme. This might cover, for example, what suits you to the programme: your experiences and skills in relation to the analysis of data and society; what attracts you to this particular programme and where you see yourself in ten years after the programme.

In addition, please write a response (up to 400 words*) to  one  of the following questions. You might do so by relying on relevant authors and concepts from previous courses or independent study, as well as on professional experiences.

• What is the most pressing social, political or ethical issue related to data and society? Why should we study it?
• How useful is the concept of "big data"? What are its limitations?
• What consequences do data-based systems have for individuals? How should we address these?
• If you could invent a data-based product or service that would change the world, what would it look like? What would be its best feature and what would be its biggest risk?

*The total length of your statement of academic purpose, including the answers to the above questions, should therefore be between 800-1,000 words.

MSc Media, Communication and Development

Write a short statement (up to 800 words) about why you want to do the programme. This might cover, for example, what suits you to the programme: your experiences and skills in relation to social justice, development or communication; what attracts you to this particular programme and where you see yourself in ten years after the programme.

Also answer the following questions (your answers should be approximately 250 words each)*:  

• What should a developed society be like according to you?
• How will studying theory help you to understand development and communication practice?
• Why do you think we need to be critical of aspects of contemporary communication and development?

  *The total length of your statement of academic purpose, including the answers to the above questions, should therefore be between 1,000-1,500 words.

MSc Social Innovation and Entrepreneurship

Write a short statement (up to 600 words) about why you want to do the programme. This might cover, for example, what you will bring to the cohort, and what your particular strengths are.

Also, you should answer the following questions (your answers should be approximately 500 words each):

• Tell us about an experience you had with social innovation /entrepreneurship/ a project with high social impact. What role did you play and what did you learn about yourself?  
• How will your past experience, combined with this LSE masters, help you to achieve your goals?

The  total length   of your statement  – including the answers to the above questions - should therefore be  between 1,100 & 1,600 words .

Department of Statistics - MSc Programmes

MSc in Data Science - G3U1

MSc in Statistics (Social Statistics) - G3U2

MSc in Statistics (Social Statistics) (Research) - G3U3

MSc in Statistics (Research) - G4U1

MSc in Quantitative Methods for Risk Management - G4U2

MSc in Statistics - G4U5

MSc in Statistics (Financial Statistics) - G4U6

MSc in Statistics (Financial Statistics) (Research) - G4U7

Your statement should explain why you are pursuing your selected programme and why you have chosen LSE's Department of Statistics. Brief details of your academic background and aspirations are also useful. If your background is outside of mathematics or statistics then you should provide further explanation of how your experience is relevant to the programme applied for, as well as further details of your current studies. 

Your statement should be concise and should not exceed 500 words .

Executive MSc in Health Economics, Outcomes and Management in Clinical Sciences

Your statement should be typed and no longer than three sides of A4 paper and should address the following questions:

• What are your career goals over the near (2-3 years) and medium term (5-7 years)?
• In concrete terms, how will your career benefit from completing this programme?

In addition, you may wish to discuss the following:

• Motivation for undertaking the programme
• Academic interests, strengths and background relevant to the programme
• Areas of specific interest within the programme
• Academic ambitions and/or research interests related to the programme
• Any professional aspirations, and how academic work within the programme might help you realise such aspirations
• Other relevant information, such as additional reading or research, work or other relevant experience that has informed your decision to apply for the particular programme

Please ensure that your statement:

• Is all your own work. If we discover this is not the case, your application may be cancelled
• Is well-written, well-structured and specific to the programme applied for
• Is proofread before being uploaded, and the final correct version is uploaded
• Has your name and the title of your chosen programme in the header or footer of every page

Executive Global MSc in Management

Your personal statement should be a maximum of 2 pages long, and highlight why you want to do the programme.  Make sure you address the following points:

• details on your suitability for the programme
• your motivations for choosing this programme in particular and what you hope to get out of it
• any career highlights to date, in particular any leadership or international experience
• future career objectives and how you think the programme will help you achieve them
• what you think you can bring to the classroom learning environment that makes you stand out from other applicants

Executive MSc in Social Business and Entrepreneurship

The Academic Statement of Purpose consists of two parts.  The total combined word count for both parts should not exceed 1,200 words.

• A personal statement: Your personal statement should persuasively explain why you want to do this programme. This may include your personal suitability such as career achievements and ambitions, what you hope to get out of the programme, your particular strengths, and what you will bring to the cohort.  600-700 words.
• For the second part, please submit your thoughts on the following statement.  400-500 words. “The business of business is social improvement. Describe briefly the role of markets in social progress.”

Atlantic Fellows Residential programme with MSc Inequalities and Social Science

Your statement(s) should be typed and no longer than two sides of A4 paper. There is no fixed word limit, but we expect statement(s) to be no longer than 1,000 - 1,500 words. 

In your statement(s), you should address the following:  

• Why are you interested in joining the AFSEE programme and what do you hope to gain by being part of it? In your answer, please:  

 o   Describe what area of socioeconomic inequality you engage in and the type of work you have done.  

o   Please give examples of how you have meaningfully contributed to collective endeavours to address inequalities.  

o   Explain why you would like to learn more about social and economic equity and how this will contribute to your social change work.  

o   Explain, in one to two paragraphs, the MSc dissertation you plan to undertake as part of the requirements of the MSc in Inequalities and Social Science. 

• Within 5 years of completing the AFSEE programme, what do you hope to achieve in your work/field? How do you see participation in the AFSEE programme contributing to you achieving those goals? 
• What academic knowledge would you like to gain via the MSc in Inequalities & Social Science and how do you plan to apply this knowledge to your future work on social change?
• Please indicate any research interests.

Atlantic Fellows Non-Residential Programme

In your statement(s), you should address the following: 

Why are you interested in joining the AFSEE programme and what do you hope to gain by being a part of it?  In your answer, please: 

Describe the area of socioeconomic inequality you engage in and the type of work you have done. 

Please give examples of how you have meaningfully contributed to collective endeavours to address inequalities.   

Explain why you would like to learn more about social and economic equity and how this will contribute to your social change work. 

What is the project you are planning to undertake as a part of the AFSEE programme?  Explain it in two paragraphs. 

Within 5 years of completing the AFSEE programme, what do you hope to achieve in your work / field?  How do you see the AFSEE programme contributing to you achieving these goals?

FAQs The Knowledge Base will provide you with answers, and allow you to email us

How to apply Information on the application process, and our video guide

Available programmes Check if your chosen programme is currently recruiting

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Contact Graduate Admissions Our Knowledge base and getting in touch with our team by Zoom, email, and Live chat

Sample Economics PhD Statement of Purpose

by Talha Omer, MBA, M.Eng., Harvard & Cornell Grad

In statement of purpose.

The following statement of purpose is written by an applicant who got accepted to top Ph.D. programs in economics. Variations of this SOP got accepted at MIT, Yale, and Brown. Read this essay to get inspiration and understand what a top Ph.D. economics SOP should look like.

Sample Statement of Purpose Ph.D. Economics

Inequality is a grim reality in the present-day world. Development topography is not homogenous. The contrast between developed and underdeveloped regions is far more severe in developing countries. Bad matters are made worse when the tools of development, meant to iron out differences, accentuate inequality.

The difference between Meridione, from where I belong, and Trentino is extremely. Unfortunately, the gap is widening with every passing year. The prime reason is the improper allocation of development funds because there is no criterion for the distribution of funds within 47 districts of Italy. Meager allocation fails to alleviate depravity because development projects are marred with ill conception, vague and intangible objectives, ineffective implementation regimes, and corruption. In addition, there is a gulf between academia and public sector officers. Consequently, underdeveloped regions of Meridione are sinking below the poverty line. Hence, I intend to obtain a Ph.D. in Economics to get insight into development paradigms and advanced research techniques so that I can give informed input for policy-level decisions.

My formal academic research has focused on funds distribution among various government tiers. In 2021, as an MS Economics dissertation, I explored the issue “Fiscal Decentralization & Service Delivery Mechanism: a case study of five districts of Meridione”. At that time, Italy had recently experimented with the devolution of power, which resulted in fiscal decentralization. Based on the analysis of the Annual Development Plan of five districts, I concluded that the rhetoric of budgetary decentralization was merely a façade because districts were dependent on the provinces’ provision of funds and plans had a regional footprint.

During my Master’s, I researched ‘Political Economy of Development Expenditure: verdict drawn from the provincial analysis.’ The Under-Development Index (UDI) composite index was developed using Factor Analysis based on 24 variables from UNICEF’s sponsored Multiple Indicator Cluster Survey of Meridione (MICS). Results showed that the topography of Meridione in terms of socio-economic development is rugged, and fund allocation was not correlated with the level of development. Both ‘deprived districts’ and ‘crucial sectors’ have been ignored due to political preferences. Therefore, I want to carry forward this work in my Ph.D.

During firsthand experience with developmental projects, I closely studied each project. I used statistical and research techniques to perform analysis. As a result, I found out that projects failed to deliver the envisaged objectives due to various factors which worked individually and simultaneously. For example, a project titled ‘Tree Plantation at Fort Harilaq’ failed to achieve its intended objectives because, due to improper planning eucalyptus plant (which requires an excessive amount of water) was planted in the hills of Fort Harilaq, which has no underground water. In another project titled ‘Establishment of emergency services at 12 districts of Meridione’, cheaper but non-durable ambulances were purchased without cost-benefit analysis.

Similarly, in a project titled ‘Elimination of bonded labor in brickkilns,’ a study was conducted after the execution of a project to check whether the labor was bonded or voluntary. There are numerous projects and numerous issues. I tried to voice everything. Even written in newspapers. I soon observed that the reporting resulted in improvements; even new projects were not designed in light of recommendations on old projects. Therefore, I gave the exam for the senior position of Assistant Chief and joined the appraisal section, which dealt with the project at the conception stage rather than evaluation which is carried out post-completion. To my surprise, appraisals should have been given more importance. The department pursued its projects as per its plan. The reason behind this stinginess was disclosed to me at a later stage.

My firsthand experience of development has shown that there is a gulf between academia and bureaucracy. Italy has well-known scholars and intellectuals, but their studies are outside the practical realm. Therefore, most government processes remain stagnant. Academia cannot be blamed for this sorry state. The bureaucrats and policymakers also need to engage academia or incorporate the results of their studies.

Consequently, both streams work in their silos. In the public sector, there are few Ph.D. The unfortunate part of the equation is that people from academia are only welcome if they join the public sector. For instance, the post of Chief Economist has been vacant for five years and is being run through an additional charge. In fact, since 1970, only one Ph.D. from academia was posted for the position, and the remaining part was filled through ad-hoc arrangements.

I want to pursue a Ph.D. in Economics specializing in Development Economics for the above reasons. I want to develop a which could give a yardstick to governments for the distribution of funds to different regions based on their backwardness and sectors on account of their importance. Moreover, I would like to abridge the gulf between academia and bureaucrats so that instead of working in silos, they sync their efforts to use the latest advancements in the field. In addition, because of the knowledge and techniques gained from the exposure, I would like to evolve the government process. Lastly, I would like to develop policy guidelines for each public sector development project category so recurrent issues are not repeated and optimum use of public resources is done. I have always used and implemented the knowledge gained.

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Sample Statement of Purpose for Cyber Security I am applying to pursue a master's degree in Cybersecurity with a special focus on Software Security and Data Privacy. My ultimate goal is to improve the cybersecurity posture of the US by collaborating with key...

Sample SOP for Business Analytics

The following SOP was written by an applicant who was admitted to top MSBA (Masters of Science in Business Analytics) programs in the US. Variations of this essay got accepted at Duke, UT Austin, and UCLA. This statement of purpose is intended to provide an example...

Sample Stanford Computer Science Statement of Purpose

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The following statement of purpose is written by an applicant who got accepted to Harvard's master’s programs in public health. Harvard's MPH program requires a 600-word statement of purpose that covers the following points: Academic and/or professional preparation...

Sample Statement of Purpose in Public Health (MPH)

The following statement of purpose is written by an applicant who got accepted to several top master's programs in public health. Variations of this SOP got accepted at Rutgers, and Chicago. Read it to understand what a top SOP in MPH should look like. Example...

Sample Statement of Purpose for Nursing

The following statement of purpose was written by an applicant who was admitted to top MSN (Masters of Science in Nursing) programs in the US. The applicant aspires to specilize in the field of nursing informatics. Variations of this SOP got accepted at Johns Hopkins...

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The following statement of purpose is written by an applicant who got accepted to top Ph.D. programs in cancer research/cancer biology. Variations of this SOP got accepted at JHU. Read this essay to get inspiration and understand what a top Ph.D. SOP should look like....

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What is an economics personal statement?

An economics personal statement should describe your motivations for wanting to study this subject. It tells the university who you are and why you will make a great economics candidate. Whether you're applying for an undergraduate or postgraduate course, it's crucial you present yourself in the best possible light to convince admissions tutors you will be a valuable asset to their department.

Your economics personal statement will be used by universities to decide whether you are a good student to study economics, and whether they want to offer you a place on their course.

How do I write an economics personal statement?

We recommend you start your economics personal statement by jotting down some ideas about your skills, experience, hobbies/extracurricular activities, strengths and ambitions for the future. Our personal statement template can help you structure your thoughts into coherent and concise paragraphs.

Start early and give yourself plenty of time to re-draft your economics statement, and proofread it for spelling and grammar. You will need to go through at least three or four revisions before you have a final, polished draft.

Once you're happy with it, make sure you check it for spelling and grammar (don't just rely on Spellchecker for this). Get someone else to read through it if you're worried you might miss something. You can then think about pasting it into your UCAS form, ready to send off.

What should I include in my economics personal statement?

• Be specific and try to give examples of your problem-solving and analytical skills, both of which are important in an economics degree.
• If you’re applying for a joint honours, e.g. economics and maths , then tailor your statement so you relate it to both of these subjects.
• A business management and economics personal statement might mention a role of responsibility, such as leader of your student debating society or head boy/girl at your sixth form. Or for an economics and finance personal statement , you could mention managing money at your Saturday job.
• Any hobbies or other activities you are involved in outside of school should always be linked to your economics course. If you don't feel something is relevant, then don't mention it - remember you only have a limited space of 4,000 characters, so every word has to earn its place. Our personal statement length checker can help you with this.
• Round off by talking about your career plans and any other ambitions you have for the future. Mention how your economics degree is going to help you achieve this.

How do I write the introduction for my economics personal statement?

Your introduction should pick out one or two aspects of economics that you particularly enjoy or are passionate about. For example, you might talk about your interest in current affairs and world development, and include one or two situations that made you want to study economics in more detail. This could be anything from a fiscal decision made by the Bank of England, or a how a civil war in another country has affected their levels of income.

By starting with an anecdote, or a specific situation you've read about or experienced, you will have a better chance of drawing the reader in, and making them want to finish reading your personal statement.

Whatever you choose to open with, it should be reflective and persuade the admissions tutors that this is the only subject you want to go on to study at university.

Economics personal statement introduction example

To help demonstrate what you should include in your opening paragraph, take a look at this great example below, where the writer uses their experience of growing up in a poor country where wealth was unevenly distributed as a catalyst for developing their interest in economics:

"Being born and brought up in a country where an uneven distribution of income is a norm, the poor live on a minimum wage of Rupees 115 a day, whilst the billionaires form the sixth largest group in the world. This vast contrast between the rich and the poor has always intrigued me and I have often questioned how this economy India, functions with such instability and chaos."

Here is another good example from another student, who talks about how their studies of the Great Depression ignited their appreciation for economics:

"Studying the Great Depression in the USA in 1929 for my extended project is when I started to fully appreciate my interest in economics. Being able to analyse and argue the issues within my extended project and relate it to the current economic crisis has awakened my passion for the subject further, especially as this subject is covered extensively in the news and media. This shows that economics is an essential factor of our society. Studying this subject in university will equip me with the knowledge to understand the economy thoroughly. "

Hopefully these examples will inspire you to write your own introduction for your economics statement that will grab the reader's attention and make the admissions tutors want to offer you a place on their course.

How do I write a conclusion for my economics personal statement?

Your conclusion should encompass where you hope your economics degree to take you, and what you hope to achieve in the future. This might include your career ambitions, or moving on to a postgraduate course to further enhance your education.

You may also wish to reiterate why are enthusiastic about applying for an economics degree, and why you think you will be a good student for this particular course.

Don't round off your statement with something vague, or by repeating something you've already mentioned elsewhere in your UCAS application. You only have 47 lines of space in which to sell yourself to the admissions tutors, so don't waste it!

Economics personal statement conclusion example

To help you write your concluding paragrapgh, take a look at this example below, where the writer talks about using the knowledge they will gain in real life situations, and how they enjoy learning about the effects of economics on a daily basis:

"I am very passionate about studying economics because I look forward to developing my current knowledge, and applying it to real life situations. I believe my desire to keep in touch with today’s economics is what will allow me to thrive in higher education."

This writer chooses to talk about applying for a Masters program once they complete their degree, and taking up internships during their summer break to gain more work experience:

"My aspirations upon graduation from University would be to advance my studies in a similarly themed Masters program or work in international development. I plan on taking internships throughout the summer breaks to gain more work experience and help me fund my student lifestyle. I am looking forward to learning and developing in various economic subjects and am excited about the opportunities that I’ll have both as a student and once I graduate."

Hopefully these two examples will help you write your own conclusion for your economics personal statement, and round it off in a way that will make it stand out from the crowd.

For more help and advice on what to write in your economics personal statement, please see:

• Personal Statement Editing Services
• Personal Statement Tips From A Teacher
• Analysis Of A Personal Statement
• The 15th January UCAS Deadline: 4 Ways To Avoid Missing It
• Personal Statement FAQs
• Personal Statement Timeline
• 10 Top Personal Statement Writing Tips
• What To Do If You Miss The 15th January UCAS Deadline.

What can I do with an economics degree?

There are many different options for those choosing to pursue an economics degree. These include:

• business analyst
• financial consultant
• investment analyst .

However, there are also many other career paths where an economics degree could be useful, such as:

• data scientist
• economic development officer
• quantity surveyor .

For more advice on what you can do with your economics degree, please visit TopUniversities and Prospects .

What are the best UK universities for economics?

Currently, the best UK universities to study economics at for 2023 are:

For more information on UK university rankings for economics, please see The Complete University Guide and The Telegraph.

Further resources

For more information and advice on economics degrees and careers, please see the following:

• 9 Economics Degree Jobs
• Careers in Economics - LSE
• 10 Jobs for Graduates With An Economics Degree
• What jobs can you get with an Economics degree in the UK?
• Economics - Career Pilot
• What to do with an Economics degree - Bright Network

Related resources

Economics statement analysis.

Find out more

UCAS Economics Subject Guide

Careers In Economics

National Careers Service: Economist

Economics Courses

Economics Degree Jobs

Economics University Rankings 2023

Economics Degree Guide

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By Nik Taylor (Editor, The Uni Guide) | 21 September 2023 | 8 min read

Writing an economics personal statement: expert advice from universities

Get your economics personal statement in top shape with these insider tips

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• Read more:  how to write an excellent personal statement in ten steps

Let your passion for economics shine through in your personal statement

• Read more:  teacher secrets for writing a great personal statement

Make sure you really understand what economics is all about

Do your research into the course.

• Read more:  personal statement FAQs

Keep your personal statement personal

Talk about how you engage with the world around you.

• Read more:  the ten biggest mistakes to avoid when writing your personal statement

Show your interest in collecting and analysing data

• Read more:  universities reveal all about personal statements

Don’t only focus on finance

• Read more:  universities explain how to end your personal statement with a bang

Include extracurricular activities with relevant skills

• Read more:  how to write your personal statement when you have nothing interesting to say

You could talk about your plans for your future, but don’t worry if you don’t have a definite career trajectory all mapped out

• Read more:  how long does it take for universities to reply to your application? 

It shouldn’t matter if you haven’t studied economics before

Proofread your personal statement before you send it out, you may want to look at these..., personal statement secrets – universities reveal all.

Want to know how to craft an amazing personal statement? Take some advice from the experts...

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Economics PhD Statement of Purpose Tips

Are in learning how to write an outstanding economics PhD statement of purpose? Then you’ve come to the right place! Writing a compelling statement of purpose can be difficult, especially for students applying to competitive schools.

Your statement of purpose must stand out from the competition so it comes as no surprise that many applicants seek guidance when crafting their essays. In this blog post, we will discuss key elements of an effective economics PhD statement of purpose and provide helpful tips on everything from outlining to polishing your essay before submitting it. With this advice, you can take control of the PhD in economics application process with confidence and demonstrate why you are an ideal candidate for admission into the program.

Research the Program

This is perhaps the most important tip for all economics PhD statement of purpose writers out there: research the program you’re applying to! What specific research areas do they specialize in? Who are their faculty members and what are their research interests? What opportunities does the program offer that align with your goals? And, most importantly, how well will you fit in this environment? By delving deep into the program’s website and faculty profiles, you can tailor your statement of purpose to highlight your alignment with the program’s values and goals.

Avoid templates at all costs

We strongly recommend that you do not use templates of previous economics PhD statements of purpose that can be found on the internet. Take our word for it, admissions committees can smell a template from a mile away!

This is because such templates are either generic in nature or unlikely to reflect your unique attributes. Moreover, they may be outdated as admission requirements can change over time and thus, using a template that does not take into account up-to-date information or trends in the field could hurt your chances of getting admitted.

Furthermore, most universities require applicants to write a statement of purpose that accurately reflects their personality and aspirations; therefore, it would be difficult for you to personalize a template written by someone else.

Finally, using a template from the internet- even for inspiration- also reduces your creativity and originality, which can be important factors in the selection process . Although it’s hard, take the time to write a statement of purpose that reflects your own unique experiences and qualifications.

Don’t rush it

Writing an economics PhD statement of purpose can be as time-consuming as preparing for the GRE. It is important to allow a sufficient amount of time in its writing as this document will provide insight into your academic and personal background, relevant experiences, and your future goals. A well-written statement of purpose can make or break your chance of being accepted into a competitive program; therefore, it is essential to invest sufficient time into constructing the perfect statement that reflects who you are as a person and student. Taking this extra step to create a thoughtful and compelling statement shows how genuinely serious you are about being accepted into the program.

(If you are wondering about what to look for in a PhD program, watch this quick video where I break it down for you.)

Stay Organized

Structure is key when it comes to the statement of purpose. Start with an attention-grabbing introduction that sets the stage for your academic journey. Move on to discussing your educational background and research experiences, followed by your long-term goals and how the Economics PhD program aligns with those aspirations. Lastly, conclude with a brief summary that ties together all of the aforementioned elements. Remember, clear and concise writing goes a long way.

Know your audience and avoid TMI

The importance of presenting a scientific tone in a statement of purpose cannot be overstated. The tone used in any statement of purpose should always reflect a level of academic professionalism – such as avoiding slang words and abbreviations – while still conveying enthusiasm for the subject matter. Keeping personal information to a minimum will demonstrate respect for the profession and also help focus attention on the most important elements presented in the statement of purpose. By being mindful when crafting your statement, you can ensure that your personal goals will be accurately represented and taken seriously.

Describe your prior research experience

If you’ve had the opportunity to engage in research before applying to the PhD program, don’t be afraid to flaunt it. Research experience can be a key factor in demonstrating your dedication to the field of economics in your application. It is important to highlight any research you have conducted, internships or summer programs that you may have participated in, and even any volunteer experience that provided an opportunity for research-related activities.

Examples of research activities could include conducting empirical studies, data analysis and modeling, or designing simulations and experiments. If available, try to provide tangible evidence of the impact of the research (such as publications, awards received, and presentations given). Additionally, make sure to explain how the knowledge gained through these experiences will help you contribute at an advanced level during your PhD program.

Highlight your research interests

Admissions committees want to know that you have a deep understanding of economics and a clear direction for your research. Spend a paragraph or two discussing the areas of economics that you find most fascinating and why. Demonstrate that you are familiar with the current literature in your field and show how your research interests fit into the broader economic landscape.

Economics is a broad field with a lot of sub-disciplines. It’s important to show that you have clear research interests and have done your homework on the program you’re applying to. Talk about specific research questions you’re interested in exploring and how they relate to the program’s strengths. Don’t just regurgitate the program’s website; show that you’re genuinely excited about the research possibilities at your fingertips.

Discuss your research goals

Admissions committees want to know that you have a clear and ambitious pathway for your future. Discuss your long-term goals and how obtaining a PhD in economics will help you achieve them. Doing so can help demonstrate your commitment to the field and show that you have thoughtfully considered your future endeavors. To discuss your long-term research goals, consider how the research you want to do aligns with the program’s focus, if there are any professors whose work aligns with yours that you would like to collaborate with, and what legacies or contributions you hope to make within the field.

Additionally, think through any challenges or problems you’d like to tackle with your research as well as how this particular program supports those ambitions. Be sure to also explain why these objectives are meaningful and important to you. Doing so can help differentiate you from other applicants and give them a better sense of what makes you unique from the rest of the pool of applicants. Be sure to focus on your individual objectives and how they will contribute to the field, rather than generic goals everyone shares. This will show that you have put time into thinking about your own personal growth within the field, and what kind of mark you hope to leave behind.

By including your long-term research goals in your economics PhD statement of purpose, you can demonstrate that you understand the importance of understanding one’s audience and how to tailor communication strategies accordingly. Doing so shows that you are not only passionate about the field but also have the competence to excel in the program. Additionally, it helps to show that you have put thought into planning and setting achievable goals for yourself. Utilize this opportunity to make an impression on the reader and create a vivid picture of your future aspirations and plans within this field.

Discuss your short-term and long-term career goals

The importance of aligning your short-term and long-term career goals with the training provided by the PhD program cannot be overstated. By clearly outlining these aspirations in your statement of purpose, you can present yourself as an ideal candidate who has taken time to consider how this particular program fits their academic and professional needs. Doing so provides admissions committees with evidence that you are well-suited for success within that field, while also demonstrating an understanding of current developments or trends in the discipline. In addition, sharing your long-term career goals gives insight into what sort of research you plan to pursue after graduation.

Show, Don’t Tell

We’ve all heard this phrase at some point in our academic careers, but what does it actually mean? Don’t just state that you’re passionate about economics and that you are great at research; instead, demonstrate your knowledge of economic terminology and methods, your research and analytical abilities, your communication skills, and your ability to think critically and write effectively.

Examples of ways to demonstrate these skills include referencing relevant economic theories or principles when discussing your past academic experiences, providing evidence of independent research you have conducted, outlining how your current studies will help you accomplish future goals related to economics, and effectively communicating ideas through clear and concise writing.

Additionally, demonstrating an understanding of the program’s requirements as well as knowledge of the faculty members’ interests can be beneficial. By showcasing your academic strengths on paper, admissions committees can gain a better understanding of your potential as an economics PhD student .

Avoid buzzwords and jargon

While it may be tempting to use buzzwords like “innovative” or “cutting-edge,” refrain from doing so. These words have become so overused and vague that they’ve lost all meaning. It is also important to avoid using jargon because it can be confusing and off-putting to readers.

Jargon is highly specific language that may only be used by experts in the field–meaning that it will not be understood by people who are unfamiliar with the topic. A statement of purpose should instead explain major concepts in plain language so that anyone reading it can understand your goals and motivations for pursuing a doctorate in economics.

By avoiding jargon, you ensure that your message comes across clearly and effectively, which can help convince readers why you are an ideal candidate for the program. Additionally, using plain language helps communicate your enthusiasm and knowledge about the subject while showing you have done your research. In this way, you can make a strong impression and stand out from other applicants.

Ask for feedback

When writing a statement of purpose, it is important to seek input from other academics. Doing so provides an opportunity to obtain valuable feedback and advice about topics such as organization, content structure, and language usage. Additionally, obtaining feedback from multiple sources helps ensure that the statement of purpose reflects the desired tone and goals. Furthermore, seeking out input can provide new perspectives on your written work which can in turn help you develop a more compelling statement of purpose.

Don’t hesitate to seek out a professional opinion as you work on your statement of purpose. It is important to reach out to individuals who are knowledgeable about academia and have credentials that support their expertise. Potential contacts may include professors, economists from think tanks or research institutes, and PhD admissions professionals. When contacting these individuals, clearly explain why you need their advice and what you hope to gain from it.

It is also important to consider other resources that can provide valuable feedback and information related to economics PhD programs. Research papers, books, websites, articles, and podcasts can be helpful tools for gaining knowledge about potential programs and understanding what successful applicants have done to gain admission. Utilizing these sources can help you refine your statement of purpose so that it accurately reflects your interests and goals within economics.

Finally, attending events hosted by universities or discussion groups organized by economists are excellent ways to learn more about the field and hear from people who have a wealth of knowledge and experience. With a combination of the right resources and academic experts, you will be well-equipped to make your statement of purpose stand out from other applicants.

In sum, writing an effective economics PhD statement of purpose requires synthesizing your research strengths and interests, as well as discussing what makes you the ideal candidate. By following the tips provided in this blog post, you can craft a powerful essay that will likely make a lasting impression on admissions committees.

Keep in mind that it is important to dedicate ample time to restructuring, drafting, and revising your essay. For further assistance in polishing your essay before submitting it or to gain additional insights into creating an effective statement of purpose, check out our statement of purpose editing services . Crafting a well-written statement of purpose that highlights how you can contribute to the program can significantly increase your chances of success! Got questions about the application process, or would like to get a quick assessment of your SOP? Sign up for a consultation , or send us your draft for an estimate. It’s FREE!

With a Master’s from McGill University and a Ph.D. from New York University, Philippe Barr is the founder of The Admit Lab . As a tenure-track professor, Philippe spent a decade teaching and serving on several graduate admission committees at UNC-Chapel Hill before turning to full-time consulting. With more than seven years of experience as a graduate school admissions consultant, Philippe has stewarded the candidate journey across multiple master’s and Ph.D. programs and helped hundreds of students get admitted to top-tier graduate programs all over the world .

Follow me on Instagram and TikTok for tips and tricks on navigating the grad school application process and weekly live Q&A sessions!

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Economics personal statement examples

On this page is a collection of economics personal statements, all written by real students. Among them are some that have helped students make successful applications to universities such as Cambridge, LSE and Manchester.

Some also feature review comments from The Student Room personal statement review team.

By reading through a few of these samples, you can gain inspiration for your own economics personal statement. 

Economics personal statement examples - top rated by students

We have lots of economics personal statement examples that you can read through. To help you find the best ones, we asked students to vote for which they found the most useful. 

The following personal statements are those that were the most highly rated.

Economics degree personal statement example (1c) LSE offer Submitted by: Anonymous "For me, the uniqueness of economics lies in its ability to combine both Arts and Science disciplines. Such a synergy creates a diverse subject which..."

Economics degree personal statement example (2h) Cambridge offer Submitted by: Anonymous " Observing the world around me, it is clear Economics can clarify so much. Take the stock market: an intricate web of transactions, demand and..."

Economics and finance degree personal statement example (1g) with review Submitted by: Anonymous " In today's world, economics associated disciplines are of fundamental significance..."

Economics and management personal statement example (1c) Oxford offer Submitted by: Anonymous " Economics in the current climate is inescapable; it dominates the media and is at the forefront of..."

Economics degree personal statement example (1h) Submitted by: Anonymous " Logic, fresh ideas, and a strong applicability to real life: the fundamentals of economics are based on..."

Economics degree personal statement example (1q) Cambridge offer Submitted by: Anonymous " Everyday, we are faced with choices. Whatever their magnitude, economics encourages a logical approach to..."

Business and economics personal statement example (1a) Submitted by: Anonymous "Economics was the first subject which caught my attention, and got me thinking about its relevance outside..."

Economics degree personal statement example (1s) Cambridge offer Submitted by: Anonymous " Ever since my Year 9 history teacher told me of the "circle of prosperity", a phenomenon we now know better as..."

Economics degree personal statement example (1e) UCL offer Submitted by: Anonymous "Travelling around the world, and having visited places including America and Iran, has allowed me to personally witness..."

Economics degree personal statement example (2d) with review Submitted by: Anonymous " I am applying to study a degree in economics principally because of the diversity of both the subject and..."

Full list of economics personal statement examples

Studying economics at university.

Study for an economics degree and you will be exploring how people, businesses and governments produce and allocate resources.

Economics degrees cover a wide range of topics, including microeconomics, macroeconomics, econometrics, international economics and business economics.

Economics degrees can also be combined with other subjects, such as history, politics, or philosophy. Economics graduates might go into careers in various sectors; such as banking, consulting, education, or public policy.

Explore economics degrees at UK universities on The Uni Guide .

Advice on writing your economics personal statement

On The Uni Guide, we've got advice from universities on what they want to see in an economics personal statement . 

Among the tips shared by these admissions experts:

• Show that you've read around the subject
• Find ways to demonstrate your passion for economics
• Do your research into the course and show that you understand what to expect from it
• Write about more than just an interest in finance

More help with your personal statement

You can find personal statement examples for other courses by using this subject list, or by returning to our personal statements by subject page.

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Ph.D. in Economics

The Ph.D. program in the Department of Economics at Columbia University trains students to do cutting edge research in economics.  Students in our program do research in all major areas of economics including microeconomics, macroeconomics, econometrics, international economics, labor economics, public finance, industrial organization, development economics, and urban economics.  Our department provides strong training both in theoretical economics and in applied and empirical economics.  The Ph.D. program is primarily designed for students that are interested in pursuing a career in teaching and research within academia but is also useful for student interested in certain positions within governments, research organizations, or private businesses.

The first two years of our Ph.D. program is largely devoted to rigorous coursework. After the second year, however, students devote most of their time to their own research under the supervision of faculty advisors. Students in our program generally complete their Ph.D. in 5 or 6 years.

Admission to the Ph.D. program is highly selective.  We receive approximately 1,000 applications each year for an incoming class of roughly 25 students.  We place a high value on attracting the very best minds, and recruiting members of groups who will both enhance the diversity of research in the field and contribute to the diversity of the university’s academic and professional community.

The Ph.D. program has a long and illustrious history.  Alumni of the program include some of the most distinguished economists of the last century – including Nobel Prize winners Kenneth J. Arrow, Milton Friedman, Simon Smith Kuznets, and William S. Vickrey.

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• FindAMasters
• Economics Masters Personal Statement Sample

Written by Hannah Slack

This is an example personal statement for a Masters degree application in Economics. See our guide for advice on writing your own postgraduate personal statement .

The notion of financial risk has always fascinated me. Risk is involved all parts of our life, and learning economic theory and statistics can help mitigate some of the larger financial risks that can massively impact our economy. Since my undergraduate course I have been intrigued by the theoretical side of economics and statistics. I particularly enjoy learning how to project potential outcomes, as this is a vital skill desired by many corporations to strengthen their decision-making processes.

Currently I am in my final year of an Economics undergraduate degree and I am projected to graduate with a first. Modules in Behavioural Economics, Finance and Investment have been a strong interest of mine since the beginning of my degree. I have also enjoyed learning more about economic policies across the globe. In order to keep up to date with the latest economic policies I make sure to follow governmental and news outlets, such as the Financial Times.

In my second year I completed a four-month placement with a national bank. This allowed me to learn more about the practical implications of economic theory in a financially focused setting. I grew very interested in the work of the Risk Manager, who further enlightened me on the many different factors that must be considered before making a major financial decision. The main thing that I enjoyed about financial risk was the tangibility of it. As history has demonstrated, financial decisions can have a major impact on society, both positive and negative. Learning how to restrain negative impacts, and how to manage risks appropriately, intrigues me as an essential part of our modern world.

My third year I spend abroad studying Economics in Australia. I found it particularly interesting to learn the differences between the Australian economic system and the UK’s, which will become increasingly important with the advent of post-Brexit trade deals between the countries. This experience only contributed to my enthusiasm with economic theory as I was able to learn more about its role within other countries.

I have decided to apply for this course because it is one of the finest in the country, with excellent links to industry. To contribute to financial risk management in the way I aspire to, I believe that I need the best education possible. This course not only has a compelling combination of modules and specialisms, but its reputation and research quality will help propel me as a competitive graduate on the job market. I truly believe that with my passion and intrigue in the subject, and this course’s quality resources, this university will be the best place for my studies.

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Economics Personal Statement

My desire to study Economics at university stems from my interest in the incredible pace of change in the world. Development Economics fascinates me and I believe the greatest challenges in our future will be of an economic origin. I am intrigued by the on-going issues we face, such as allocating ever depleting resources and the ‘tragedy of the commons’, as well as issues which have become more acute in recent years, such as globalisation and global poverty.

Through reading around my Economics course I discovered how historical economic models could be applied to modern situations. A particular example which appealed to me was Harford’s demonstration in ‘The Undercover Economist’ of how Ricardo’s 1817 farming analysis could explain diverse situations, such as coffee shops and high rent prices in London . Recently I read Collier’s ‘The Bottom Billion’, after learning about high taxation in poor countries from an article in a June 2015 ‘The Economist’. I was drawn to the idea that this could stimulate growth because it contradicted the low taxation neoliberal hegemony I had previously encountered. I think Collier’s proposed solutions, despite some being controversial (e.g. military intervention), are sensible and could be highly effective. Naturally, I am yet to look at all of the solutions posed by different economists, however I believe it is a challenging and stimulating task to find viable resolutions.

Through my work-experience at Emirates NBD I learnt more about the application of economics to real-life. The real-estate team proved how scarcity influences the housing market: even during a slump in 2011, an apartment in Mayfair sold for above the asking price due to localised demand. I also shadowed the Emirates’ Head of the Treasury who explained how interest rates are set and the concept of net interest margin. This led me to explore financial management further: I am now able to follow market fluctuations in ‘The Financial Times’ with an informed opinion.

Living in Spain makes the study of European economics particularly fascinating for me. I enjoy following the Spanish and British economies; in particular, comparing the approaches taken by the Bank of England and the ECB to tackle their various economic issues. Although both the economies of Spain and the UK recovered slowly – with Britain having its longest recovery in 300 years of recorded history – the Spanish unemployment rate has remained persistently above that of the UK. For me, it is a fascinating challenge to understand the factors contributing to this ongoing problem for Spain.

Learning another language has given me a wider global perspective. It enables me to follow the news from more sources, giving alternate views, and keeping me informed on the Hispanic countries. Maths is an integral part of economics as it transforms theories into practical applications and I look forward to developing my skills and applying my knowledge in new ways. I enjoy tennis and drama. Last year I completed my Silver LAMDA qualification, which took commitment and careful time management. By tutoring maths I have also developed my communication style, in particular, the ability to convey complex information simply.

Economics is central to the human condition and gives the tools to understand some of the most important motivations of states and individuals in our increasingly global society.  I eagerly await the opportunity to understand more about the world we live in and, in the future, hopefully help to influence it for the better.

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The humanitarian side of economics.

It might not come as a surprise to you when we say that your career choice has set you up perfectly to go into almost any NGO anywhere in the world, due to the versatility of economics.

However, the popularity of work in the humanitarian sector is also growing as time passes, meaning a Master’s degree will help you get in the door, but voluntary work is often necessary, too.

If you’re fresh out of college, great! Voluntary work can provide you with some types of experience and opportunities you might not be able to enjoy otherwise, and that can really help guide you later when it comes to choosing a Master’s degree or further study in a specialism, and getting started learning a second language. Get onto the NGO ladder quickly, through a Masters or by working with an appropriate organization, and you’ll position yourself perfectly for one of the higher-flying humanitarian jobs out there.

The United Nations was recently searching for an Economic Affairs Officer to work at their duty station in New York. They were looking for a candidate with an advanced university degree in economics or a related field, or an individual with a first-level university degree and two additional years of qualifying work experience.

Responsibilities in this post included economic or sector analysis: monitoring economic developments in landlocked developing countries; the design and completion of studies of specific issues in economic development, including infrastructure development, trade and trade facilitation, regional integration and structural transformation and draft resulting reports; organizing expert group meetings, seminars, etc., on development and economic issues; plus other duties.

Amnesty International Hong Kong was looking for Business and Human Rights Strategy Advisor/Analyst at the time of writing, with proven knowledge and first-hand experience of undertaking high quality advocacy and in-depth specialist knowledge in the field of business, economics and human rights on an international level. Other skills necessary for the position include being able to strategically plan, negotiate and influence others; manage projects and give accurate and succinct guidance to others; be able to write and speak with excellent skill in English, as an essential component, and Mandarin language skills highly desirable.

The role includes leading the development of global and high profile advocacy and campaigning strategies of Amnesty International, with a specific focus on the role of Chinese business operations outside of China.

UN Women is looking for a New York based Programme Specialist, who will manage and monitor the portfolio of Asia and Pacific grants for the UN Trust Fund to End Violence against Women (UNTF); provide technical support and guidance to Asia and Pacific portfolio grantees; provide technical support in the grant-making process of the Asia and Pacific portfolio, communications of the Asia and Pacific portfolio; provide knowledge management and capacity development support to the Asia and Pacific portfolio.

To get this post you’ll need a Master’s degree or equivalent in Economics, Sociology, International Development Studies, and a Master’s degree in Monitoring and Results Based Management is an asset. Experience-wise, you’ll need a minimum of five years of relevant national/international experience working in international development, human rights, gender equality and women’s empowerment; knowledge and experience related to violence against women and girls; etc. Only English is required.

Rovingbandit.com has compiled a list to help economists find international development jobs, which might be an excellent resource for you if you’d like to read around this area and get a job working for a humanitarian organization.  

It’s useful and beneficial for your career development to study a Master’s degree. It might not be possible to apply right after completing a Bachelor’s, but it’s well worth aiming to do one if you can. There are a lot of different schools all over the world that run great programs, so don’t limit yourself to your own country right from the beginning. See what the world has to offer! American programs are often extremely expensive and not necessarily better if you plan to get a job outside of the US anyway.

There’s an M.A. in Development and International Economics at the Faculty of Arts and Social Sciences at Kingston University, UK. It will help you develop knowledge and the ability to research the key issues and long-term historical trends concerning the development process and international economics; develop your mastery of fundamental principles of macroeconomic and microeconomic theory; enable you to develop a deep familiarity with major issues in economic history and economic thought from the early modern period to present day. It’s a 1-year course costing 12,500 GBP for non- EAA students.

The Tor Vergata University of Rome, Italy runs a M.A in Development Economics and International Cooperation that uses an interdisciplinary methodology to development. It’s taught in English and provides a solid grounding in the most recent economic theory, as well as econometrics and statistics. Students from all over the world have studied on the program, which includes modules in Credit, Growth and Welfare; Topics in Development Economics; Education, Labor and Gender Issues for Developing Countries, etc.

There’s an M.Sc. in International Economics at Vytautas Magnus University, Lithuania, too, which is oriented towards the theories and policies of international economics, its legal aspects, strategy planning, and advanced methods of modern economic analysis. You’ll explore modules like Microeconomics and Game Theory, International Law, Business Strategy and Development, Investment Analysis and Management, plus many more.

The M.A in International Politics and Economics at Kingston University delves into the political side of economics, including modules on International Political Economy: Capitalism, Imperialism and the State; and optional modules like Economic Change and Ideas, The Theory and Practice of International Relations, Political Economy: Effective Demand, Exploitation and Crisis, and many more.

If Germany is more your sort of place in the world, you could study a M.A. in International Economics, Business and Cultural Diplomacy at The Center for Cultural Diplomacy Studies, Berlin, Germany. This fascinating institution gathers together individuals that are passionate about cultural diplomacy, and this one-year program offers its students two semesters of study, followed by a Professional Development Training Program that’s individually designed for each student and a thesis-writing period at the end of the course. You’ll study modules like The History and Evolution of the Field of Cultural Diplomacy; International Case Studies of Cultural Diplomacy; Future Trends in International Relations and Cultural Diplomacy; elective modules like National Branding and Unilateral Cultural Diplomacy; European Politics; International Economic Organizations & Culural Diplomacy; International Economics; International Business Strategy; International Finance and Accounting.

Sweden also offers some interesting courses for economists, like the M.Sc. in Urban, Regional and International Economics at Jonkoping University. This program covers mathematical methods for economics and financial analysis; advanced macroeconomics and growth; economics of cities and spatial growth; globalization of economic activity; entrepreneurship, innovation and growth; international trade analysis. It’s a two-year course. 

So, are you feeling fired up? If you’ve just got to do a Master’s, but you’re anxious about how you’ll put yourself across in your personal statement of purpose, just get in touch. We have extensive experience helping people just like you all over the world.

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Personal Statement of Purpose for Admission to Graduate School in Economics, Master's, Doctorate. Building new understandings of Economics as a human centered reality in need of rigorous humanistic investigation.

 We share a critical stance towards conventional or traditional economic theory insofar as it has all too often tended to appeal to a most abstract version of humanity. Many economists share our opinion that it is not necessarily human nature to always prefer more wealth to less; and subsequently, we feel that this assumption does not serve as an adequate theoretical basis for a science of political economy. Unfortunately, today this dominant understanding of human economic activity which paints us all as greedy, self-seeking creatures has tended to become the unquestioned ‘truth’ that has led to many of today’s social and environmental problems.

 Just as the desire for more wealth clearly does not define our every action, the humanist critique of modern economics includes the assertion that ‘what is economically rational is often socially or morally unreasonable’. In all aspects of life we face choices that could lead to many different outcomes. Nevertheless, it is exactly this human choice that is ignored in economic rationality, which is myopically concerned only with the satisfaction of self-interest.

 We draft eloquent, incisive statements with a humanistic emphasis and we do so on behalf of clients from around the world who are applying to graduate school in Economics. When you fill out our Online Interview Form , please provide us with the link to the program to which you are applying. This way, we can make your statement much stronger by tailoring it to that particular program and what that program is looking for in an applicant.

A common assumption of economic analysis is that individuals are rational and self-interested. In your statement, you need to explain to the Admission Committee how it is in your rational self-interest to embark upon graduate school in economics. Tell me how you feel about these issues, as this will help to direct me. Is self-interest moral, amoral, or immoral? Is morality a matter of individuals taking responsibility for their lives and working to achieve happiness? Or is morality a matter of individuals accepting responsibility for others and being willing to forgo or sacrifice for them? This is the debate in ethics between egoism and altruism and it is of central importance to the applicant seeking to undertake graduate study in economics.

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Economics & ethics: how i can help you get admitted to graduate school in economics..

Economics and Ethics

As someone with a PHD in Social Ethics, I tend to see economic issues as intimately connected with ethical  issues. Take the economic practice of doing a cost-benefit analysis. You could spend one hundred dollars for a night on the town, or you could donate that one hundred dollars to the reelection campaign of your favorite politician. Which option is better? The night on the town increases pleasure. A politician’s successful campaign may lead to more liberty in the long term. We regularly make decisions like this, weighing our options by measuring their likely costs and likely benefits against each other.

This connects economics directly to a major issue in ethics: By what standard do we determine what counts as a benefit or a cost? A list of competing candidates for the status of ultimate value standard includes happiness, satisfying the will of God, long-term survival, liberty, duty, and equality.

Economists implicitly adopt a value framework when beginning a cost-benefit analysis. Different value commitments can lead to the same item being considered a cost from one perspective and a benefit from another. For example, those whose standard of value is increasing human happiness would count a new road to a scenic mountain vista as a benefit, while those whose standard is maintaining an unchanged natural environment would count it as a cost.

The results of economic analysis also lead directly to ethical issues. For example, one result of the nineteenth- and twentieth-century debate over capitalism and socialism is a general consensus that capitalism is effective at producing wealth and socialism is effective at keeping people poor. Advocates of capitalism use these results to argue that capitalism is good; others might respond that “socialism is good in theory, but unfortunately it is not practical.” Implicit in the capitalist position is the view that practical consequences determine goodness. By contrast, implicit in the position of those who believe socialism to be an impractical moral ideal is the view that goodness is distinct from practical consequences.

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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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Liberty Street Economics features insight and analysis from New York Fed economists working at the intersection of research and policy. Launched in 2011, the blog takes its name from the Bank’s headquarters at 33 Liberty Street in Manhattan’s Financial District.

The editors are Michael Fleming, Andrew Haughwout, Thomas Klitgaard, and Asani Sarkar, all economists in the Bank’s Research Group.

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The views expressed are those of the authors, and do not necessarily reflect the position of the New York Fed or the Federal Reserve System.

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