About PhD Program,
Year after year, our top-ranked PhD program sets the standard for graduate economics training across the country. Graduate students work closely with our world-class faculty to develop their own research and prepare to make impactful contributions to the field.
Our doctoral program enrolls 20-24 full-time students each year and students complete their degree in five to six years. Students undertake core coursework in microeconomic theory, macroeconomics, and econometrics, and are expected to complete two major and two minor fields in economics. Beyond the classroom, doctoral students work in close collaboration with faculty to develop their research capabilities, gaining hands-on experience in both theoretical and empirical projects.
PhD Program Degree Eligibility with GPA,
A bachelor’s degree (or equivalent) is required. It is not essential that the bachelor’s degree be in economics, but some preparation in undergraduate economics, especially in economic theory, is a necessity, as is a working knowledge of calculus.
students must complete a total of 13 semester long classes plus 14.192 during their time in the PhD program. Subjects that are waived will not count towards this requirement. Classes counting towards this requirement include classes in Course 14, classes that count for any major or minor field or interdisciplinary program requirement, and classes approved by the 2nd-year GRO.
Students must satisfy the requirements in at least 10 of 12 half-semester first-year core courses (14.384 and 14.385 are considered second-year courses). The requirements can be met by earning a grade of B or better in the class or by passing a waiver exam.
Waiver exams are offered at the start of the semester in which the course is offered and graded on a pass-fail basis. Students who receive a grade of B- or below in a class can consult the course faculty to determine whether to take the waiver exam or re-take the course the following year. These requirements must all be satisfied before the end of the second year.
PhD Funding Coverage,
Incoming students who wish to be considered for financial aid from MIT should indicate this when completing the online application form. These awards are made by April 15 and typically cover the first two years of study.
For years one and two, all students admitted to our PhD program are offered (either directly by the department, or as a supplement to other funds) fellowship support equivalent to: full tuition for the academic year, twelve-month individual health insurance, and a stipend for the nine-month academic year.
In years three through six, all students are offered full-time teaching or research assistantships that provide full tuition, a nine-month stipend, and health insurance. This support is contingent on satisfactory academic progress.
The department also offers paid summer research assistantships and summer fellowships as a supplement to academic-year stipends.
Institute rules require every holder of a graduate scholarship or fellowship to pursue a full-time program of graduate study.
The department is currently able to offer a limited number of competitive dissertation fellowships that allow PhD students in years four or five to have a year free from TA and RA duties.
Application Requirement,
- Online application
- $90 application fee
- Scanned copy of college transcripts
- Three letters of recommendation
- TOEFL, IELTS, or Cambridge English Qualification (C1 & C2) test score (any one) for international students whose native language is not English
- The GRE is required as part of applications for the 2025-2026 cycle (for September 2025 admission)
- Statement of objectives/personal statement
Application Deadline,
Dec 15, 2024
Application Fee,
- $90 application fee
