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Doctor of Philosophy in
Economics

Pursue a Career as a Researcher and Economist

If you want to deepen your economic knowledge by inspiring future economic professionals in a high-level teaching role or contributing to cutting-edge research, a PhD in economics is the degree to push you toward your goals. In the public and private sectors, there are opportunities for individuals with advanced economic theory and econometric aptitude.

The University at Albany doctoral program in economics balances a rigorous core curriculum with deep specialization. You'll focus on at least two concentrations, which give you a close view of the most relevant topics in modern economics. You'll finish the program with faculty-supervised dissertation research, drawing on professors' knowledge to pursue your chosen subject within the field.

Program of Study

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Bring new depth to econometrics and economic theory through a comprehensive core curriculum laying the groundwork for you to confidently focus your studies on a chosen area of focus.

Concentrations available include advanced macroeconomics, advanced microeconomics, econometrics, health economics, industrial organization, international economics, labor and income distribution, and public economics. By focusing on a minimum of two of these concepts, you'll receive an education that is both tailored to your interests and all-pervading. Learn to use mathematical and statistical models to address real-world problems. Harness cost/benefit analysis, optimization theory, economic modeling, forecasting, pricing theory and more.

Approach a research career in government or industry with the applied theory as well as the tactical experience addressing high-level economic scenarios. Completing your dissertation will qualify you to take on complex economic challenges.


Additional Information

See the Graduate Bulletin for details.

For more information, contact Ulrich Hounyo at [email protected].

Core Courses

Economic Theory:

  • Microeconomics I and II
  • Macroeconomics I and II


Econometrics:

  • Econometrics I, II and III


Advanced Research Topics: Eco 798


Fields of Concentration

Preparation for a field of concentration normally requires a year of coursework at the 700 level or above. With the approval of the Department's Graduate Studies Committee, one of the two fields may be replaced by another appropriate discipline or by a specialization combining economics with a related field. Advanced doctoral students are required to participate in at least one of the three workshops of the department (Workshop in Microeconomics, Workshop in Macroeconomics, or Workshop in Econometrics).


Other Requirements

  • Research Tool Requirement
  • Departmental Qualifying Examinations
  • Doctoral Dissertation and Oral Defense

Career Outcomes


The UAlbany PhD in Economics program prepares you to confidently pursue a career as a professional economist.

Other potential job titles for an Economics PhD include:

  • Tenure-track faculty at international universities and colleges
  • Research economist with public-sector agencies, governmental and international
  • Private-sector economist and advisor positions in banking, communications, health care, consulting and finance


 

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"I have benefited immensely from exceptional teachers. They changed me from a graduate student into a researcher. I will be eternally grateful to them."

-Xugang Sheng, UAlbany PhD graduate and current associate professor at American University

International Students

This degree is designated as a STEM program. International students maintaining F-1 status are allowed to apply for up to 12 months of post-completion Optional Practical Training (OPT) following completion/graduation from their degree program. Currently, this degree program is also designated by the Department of Homeland Security (DHS) as an eligible degree for the F-1 STEM OPT work authorization extension; students who secure qualifying employment may be eligible to apply for the STEM OPT extension for a cumulative total of up to 36 months of F-1 OPT work authorization.

Content

Financial Aid

Most PhD students receive financial support from the University at Albany in the form of a graduate assistantship or fellowship. For the academic year 2024-25, the graduate assistantships for first-year students provide full tuition relief with the waiver of comprehensive university fees and a stipend of $21,000. For the academic year 2025-26, the stipend will be increased to $22,000.

Senior graduate students receive funding through teaching or internships. Through our location in the capital of New York State, the economics department offers several internship opportunities with government agencies and other institutions. In addition, there are various opportunities to work closely with faculty on funded research projects.

Special MA Option in Economics


If you’re enrolled in the PhD Economics program, a master's degree may be awarded after the satisfactory completion of a minimum of 30 graduate credits, of which 24 credits are in economics:

Required Courses

  • Microeconomics I and II
  • Macroeconomics I and II
  • Econometrics I, II and III
  • Graduate Research Seminar in Economics
  • Supporting courses (0-6 credits) as advised

See the Graduate Bulletin for details.


 

 

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Admissions Requirements
Deadlines

Departmental Assistantship Consideration

  • Fall: February 15
  • Spring: Not Available
  • Summer: Not Available


 No Departmental Assistantship Consideration

  • Fall: August 1
  • Spring: Not Available
  • Summer: Not Available
Required Application Materials
  • Transcripts from all schools attended
  • Three Letters of Recommendation
  • GRE

Each application is evaluated on its individual merits by the Economics Department. The applicant's academic record, letters of recommendation, and GRE scores all weigh heavily in the decision.

Prerequisites

It is not necessary to have an undergraduate degree in economics to apply to the program. However, applicants are expected to have completed a one year sequence in intermediate economic theory, three semesters of calculus, and one semester of linear algebra. While not required, some training in mathematical statistics is highly recommended.

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Student Learning Objectives


Learning objectives that UAlbany students are expected to attain through their course of study within their academic program.

PhD
  • Understand the fundamental principles and models of modern economics in depth, and be able to apply them to economic and social issues.
  • Be able to use mathematical models to analyze behavior.
  • Be able to apply advanced, modern econometric methods to the analysis of data.
  • Have a deep mastery of the subject area in two fields of concentration.
  • Be able to conduct scholarly research.
  • Be able to describe and critique economic research to both technical and non-technical audiences.
  • Be able to explain economic principles, models and methods to others.
  • Be prepared for employment in academic and/or non-academic institutions.
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