Economics

Major: Economics
Degree Awarded: Doctor of Philosophy (PhD)
Calendar Type: Quarter
Total Credit Hours: 60.0 (Post-Master's degree) or 90.0 (Post-Bachelor's degree)
Classification of Instructional Programs (CIP) code: 45-0603
Standard Occupational Classification (SOC) code:
19-3011

About the Program

Drexel's PhD program in Economics prepares economists for academic research as well as careers in government or industry by providing a solid background in economic theory, quantitative analysis, and analytical tools at the advanced level. Each year a relatively small number of PhD students are accepted into the program, which allows for a collegial environment where the PhD students interact with faculty on a daily basis. Requirements for the MS in Economics program are satisfied if the coursework associated with the first and second years of the PhD program are complete.

The PhD program in Economics offers three fields of study:

  • Industrial Organization
  • International Trade
  • Open Economy Macroeconomics

The PhD program in Economics is also particularly strong in applied microeconometrics.  

Students typically complete their coursework in two years and the PhD degree in five. Students work as research and teaching assistants under the supervision of a faculty member. After their second year, students can teach independently.

Additional information can be found online at the PhD Program in Economics page as well as in the LeBow College of Business LeBow PhD Handbook.

To apply and for application information please check online at the LeBow PhD Admissions webpage. 

Questions should be addressed to lebowphd@drexel.edu

Admission Requirements

The LeBow College of Business: School of Economics seeks applicants with exceptional ability and motivation. For the PhD, the School places emphasis on applicants who can provide evidence of strong potential in a research-oriented program. In general, prior training at either the undergraduate or graduate level in economics and mathematics is strongly encouraged. All courses in the program expect a preparation of at least principles of economics and basic statistics. Students who lack some part of this preparation may be considered for admission conditional on their completing the appropriate undergraduate courses as non-matriculated students during the summer term before they begin the program in the fall.  

Admission is competitive and highly selective.

 In reviewing an applicant's credentials, the faculty will consider the following factors:

  • Prior Academic Accomplishments: The faculty will examine all course work taken prior to application, paying particular attention to the specific courses that have been completed. Applicants should have attained a minimum grade point average of 3.0 (on a 4.0 scale) for all undergraduate course work completed. They also should have attained a minimum 3.3 average for any graduate-level course work taken. The faculty generally expects applicants to demonstrate a substantially higher level of accomplishment than these minimum requirements. A master's degree is not a requirement.
  • Graduate Record Examination (GRE): Applicants are required to submit GRE scores. GRE scores are not accepted if they are more than five years old.
  • Test of English as a Foreign Language (TOEFL): Applicants whose native language is not English and who have not already received a degree from a U.S. university must also submit scores from the Test of English as a Foreign Language (TOEFL).
  • Personal Statement/Essay: Each applicant must submit a personal statement. The personal statement should explain the applicant's educational and personal experiences that have influenced the decision to pursue a PhD and should discuss the candidate's career plans and goals. The faculty are especially interested in learning about an applicant's prior research experience and the commitment to future research in the applicant's area of specialization.
  • Letters of Recommendation: Two letters of recommendation must be submitted in support of the application. Applicants are strongly encouraged to seek recommendations from academics or other professionals who can assess the applicant's likelihood of success in a research-oriented PhD program.

Admission Procedures

The PhD Programs in Economics admits students each fall. To be considered for admission, the completed application must be received by the LeBow College of Business Office of Graduate Admissions no later than January 15th. It is the applicant's responsibility to ensure that all transcripts, test scores and letters of recommendation, as well as the application form and the personal statement, are received by Drexel University no later than January 15th.

Assistantships and Financial Aid

The LeBow College of Business strives to provide graduate assistantships to all entering PhD students. Each applicant to the PhD program is automatically considered for a graduate assistantship as well as for admission into the program. First-year graduate assistants are assigned to work with a faculty member on research activities. During the second and subsequent years, graduate assistants are generally assigned a combination of teaching and research responsibilities. Assistants receive a stipend and 27.0 credits of tuition remission per academic year. Doctoral students who are making satisfactory progress toward the degree can expect to be provided with an assistantship for at least four years.

Degree Requirements

The PhD in Economics program prepares economists for careers in research, teaching, business, and government. It is designed to provide students with not only a broad understanding of modern economics, but also the opportunity to conduct high quality research in a number of specific fields of study including industrial organization, international economics, and health economics.

In the second year of study, the PhD in Economics offers three fields of specialization: industrial organization, international trade, and open economy macroeconomics. Students complete courses in two of these fields of specialization.

Curriculum 

60.0 credits (Post-Master's degree)
90.0 credits (Post-Bachelor's degree)

  • 27.0 credits of first year core courses
  • 18.0 credits of economics field requirements
  • 15.0 credits (minimum) of dissertation research
  • 30.0 additional dissertation research credits for students without a Master's degree

Core Program

All PhD students pursue a common set of core courses. The following courses are all completed during the first year, with the exception of ECON 941 Econometrics II, which is completed in the second year.

Core Courses
ECON 902Mathematical Economics3.0
ECON 910Advanced Microeconomics I3.0
ECON 911Advanced Microeconomics II3.0
ECON 920Advanced Macroeconomics I3.0
ECON 921Advanced Macroeconomics II3.0
ECON 940Econometrics I3.0
ECON 941Econometrics II3.0
ECON 942Applied Microeconometrics *3.0
ECON 980Game Theory3.0
STAT 931Statistics for Economics3.0
Total Credits30.0
*

Taken in the second year.

 First-Year Examination

After the completion of the core coursework, students are examined on their competence in the core material and their readiness to proceed.

Fields of Specialization
Students are required to complete the coursework for at least two of the following fields/sequences.
Industrial Organization
Industrial Organization I
Industrial Organization II
Industrial Organization Seminar
International Trade
International Trade
Empirical International Trade
International Trade Seminar
Open Economy Macroeconomics
Macroeconomic Dynamics
Open Economy Macroeconomics
Open Economy Macro Seminar

 Electives

In addition, students can take elective courses from the Economics Department, from any other departments in the College of Business, and from departments in other Colleges of Drexel University. The following is a set of sample electives:

ECON 930Monetary Economics3.0
ECON 952Health Economics3.0
ECON 955Public Economics3.0
ECON 964Economic Development3.0
ECON T980Special Topics in ECON0.5-9.0
Additional courses with the permission of the advisor3.0
Dissertation Research12.0
Dissertation Research in Economics

Facilities

In fall 2013, LeBow College opened its 12-story, Gerri C. LeBow Hall, with a finance trading lab, behavioral studies lab and integrated teaching technology in all classrooms. The new building features two lecture halls, 15 classrooms of varying sizes and seating configurations, including case study rooms and cluster classrooms designed to facilitate group work. Other amenities consist of extensive areas of student spaces, including 12 collaboration rooms, two quiet study areas, and 3,500 square feet of student lounges. Gerri C. LeBow Hall brings together faculty, students and staff, in a state of the art building on the University City campus. Please visit the LeBow College of Business webpage to learn more about Gerri C. LeBow Hall.

School of Economics Faculty

Marco Airaudo, PhD (University of Pennsylvania Philadelphia). Associate Professor. Computational economics, international economics, macroeconomics and monetary economics.
Patricia Awerbuch, MBA (Drexel University). Assistant Clinical Professor. Performance of on-campus students in an online classroom designed for distance learners; business professors.
Richard Barnett, PhD (University of Minnesota). Clinical Professor. Economic theory, macroeconomics.
Sebastien Bradley, PhD (University of Michigan). Assistant Professor. Public finance, international economics.
Mian Dai, PhD (Northwestern University). Assistant Professor. Managerial economics and strategy.
Pia DiGirolamo, PhD (Purdue University). Assistant Clinical Professor. Macroeconomics, international finance.
Matthew Freedman, PhD (University of Maryland). Associate Professor. Labor economics, public economics.
Shawkat M. Hammoudeh, PhD (University of Kansas). Professor. Applied econometrics, financial economics, international economics, and natural resource economics.
Teresa D. Harrison, PhD (University of Texas Austin) Associate Dean, Academic Affairs. Associate Professor. <em>School of Economics</em> Econometrics, public finance, industrial organization, empirical microeconomics including health and nonprofit organizations.
Paul E. Jensen, PhD (Penn State University) Associate Dean, College of Business. Associate Professor. International trade. Primary research interest is international trade, particularly in empirical studies of international trade patterns.
Bang Nam Jeon, PhD (Indiana University) Department of Economics and International Business. Professor. Financial economics, world financial market linkages, foreign direct investment flows in the Asia-Pacific economies, the Korean economy: currency crisis, FDI, and macroeconomic issues, regional economic integration and newly industrializing economies: the
Stephen Joyce, MA (Temple University). Assistant Clinical Professor. Education and human capital.
Andre Kurmann, PhD (University of Virginia). Associate Professor. Computational economics, financial economics, labor economics, macroeconomics and monetary economics.
Christopher A. Laincz, PhD (Duke University). Associate Professor. Economic development, technological change, and growth, industrial organization, macroeconomics and monetary economics.
Philip Luck, PhD (University of Califorinia, Davis). Assistant Professor. International economics, international trade.
Vibhas Madan, PhD (Michigan State University). Professor. International trade theory, applied microeconomics.
Roger A. McCain, PhD (Louisiana State University). Professor. Computational economics, game theory.
Bruce D. McCullough, PhD (University of Texas Austin). Professor. Applied Econometrics, Data Mining, Econometric Techniques, Reliability of Statistical and Econometric Software.
Irina Murtazashvili, PhD (Michigan State University). Assistant Professor. Applied econometrics.
Maria Olivero, PhD (Duke University). Associate Professor. Macroeconomics, international finance.
Eydis Olsen, MA (American University). Clinical Associate Professor. Macroeconomics, political economy.
Tristan Potter, PhD (Boston College). Assistant Professor. Macroeconomics, labor.
Konstantinos Serfes, PhD (University of Illinois at Champaign-Urbana). Professor. Industrial organization; microeconomics.
Ricardo Serrano-Padial, PhD (University of California at San Diego). Assistant Professor. Microeconomics theory, information economics with applications in finance, macroeconomics and industrial organization.
Mark Stehr, PhD (University of California at Berkeley) Assistant Director School of Economics. Associate Professor. Health economics, health behaviors, public finance, public policy.
Constantinos Syropoulos, PhD (Yale University) Trustee Professor of International Economics. Professor. International trade, political economy, applied microeconomics.
Matthew Weinberg, PhD (Princeton University). Associate Professor. Antitrust and regulation, applied econometrics, industrial organization.
Yoto Yotov, PhD (Boston College). Associate Professor. International trade, applied microeconomics, political economy.

Emeritus Faculty

Edward C. Koziara, PhD (University of Wisconsin). Professor Emeritus. Applied micro and macro economics.
Bijou Yang Lester, PhD (University of Pennsylvania). Professor Emeritus. Behavioral characteristics of shopping on-line, economic issues of electronic commerce, contingent employment and part-time work, the economy and suicide.
Andrew G. Verzilli, PhD (Boston College). Professor Emeritus. Teaching effectiveness in economics; economics and financial history.
Chiou-shuang Yan, PhD (Purdue University). Professor Emeritus. International economics, input-output analysis.
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