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• PhDEconomics

Revision 283 as of 2009-07-23 06:17:10

Thinking of Doing a Ph.D in Economics at Monash?

There are, broadly speaking, two models of a Ph.D. in economics: the English-style research-only Ph.D. (which is usually completed after three years of research, upon completion of a coursework Master's degree) and an American coursework-intensive Ph.D. (which requires roughly two and a half years each of advanced coursework and research). The M.Phil./Ph.D. program at Monash bridges the gap between the two, by providing some advanced training (six units) beyond the honours level, while keeping research the primary focus. The Ph.D. course is discussed below.

Some notable areas of research that students and staff in the Department of Economics pursue are:

• Development Economics See the DRU website

• Economics of Networks, Specialisation, and Economic OrganisationSee the CIREO website

• Economics of Tourism (including Sports) See the TRU website

• Experimental Economics, with particular emphasis on game theory and development economics applications See the MonLEE website

• Long Run Economic Growth
• Macroeconomic Implications of Asset Pricing

Where to Start? How to Apply?

There are two stages in the application process. Before going through the formal application process our Department is first required to assess your eligibility for entry to the Ph.D. program. Please note that the University is rather strict admitting only students who have a four year degree (including honours) in Economics. To begin the assessment, please create a single ".pdf" file that contains the following documents listed below and e-mail it to me, Steph Miller, Ph.D. Coordinator for the Department of Economics and cc Barbara Cramer:

1. Full curriculum vitae (CV)

2. Your GPA or average mark for your undergraduate degree(s) including the following documents:

• Table of grading system used by the institution
• Electronic copies of your academic transcripts
• Abstract of research report/minor thesis, examiners reports and percentage of the research component in the course

3. Special academic achievements including, if possible, rank and position within your graduating class e.g. ranked fifth out of 100 students in your course.

4. Details of any research activity that you have engaged in during your undergraduate or postgraduate degree or in a work environment including:

• abstract
• percentage (%) of contribution
• cover page of publication
• evidence indicating whether it is a refereed publication

5. Details of any research publications (for example conference proceedings, journal papers, etc.):

• abstract
• percentage (%) of contribution
• cover page of publication
• evidence indicating whether it is a refereed publication

6. Evidence of English language test results (for example IELTS or TOEFL). For more information, please visit:

http://www.mrgs.monash.edu.au/research/doctoral/chapter2d.html

It is most important that you check the criteria of language proficiency for non-English speaking background students as they vary from country to country. If you do not meet those criteria you should register for an IELTS test as soon as possible.

7. A brief preliminary research proposal which provides us with an idea of your research topic, the motivation for conducting this research, some background to the research (literature review), research questions and/or hypotheses, and research methods to be used (maximum 500 words).

It will be very much appreciated if you could send the above documents in one attachment only as the information will be used for pre-assessment purposes only.

Please ensure that you have the original of all the documents you send as this will be required if you have a positive pre-assessment outcome.

Our annual student intake normally coincides with the beginning of the academic year, which is usually the last week of February or the first week of March. Our academic program is structured in line with that calendar. Accordingly, applications for admission should be submitted sufficiently in advance for that intake. It is in principle possible to start in mid-year, i.e. with the second semester of our academic year. However, such a starting date poses logistical difficulties in constructing a coherent academic program because our postgraduate units are offered only in one semester each year.

Although there are no deadlines for applications, requests for financial support – in particular scholarships – have to be submitted before the last day of October of the year preceding the intended commencement of studies. Thus, if you intend to seek financial support, you should plan to provide the relevant application and supporting information material before late October 2009 for admission into our program in the first semester of 2010.

The following sites will provide more information on MPhil and PhD respectively:

http://www.monash.edu.au/study/coursefinder/course/3194/

http://www.monash.edu.au/study/coursefinder/course/0029/

We look forward to receiving your information for the pre-assessment process. Please do not hesitate to contact us if you need further clarification.

If I'm Not Sure, How Would I Prepare Myself to do a Ph.D.?

• I am a Masters student

• I am an Honours student

• I am an Undergrad student

I am a Master's Student

If you're a Master's student, and you have an area of research that you wish to puruse, you may be considering Ph.D. You may send the appropriate materials listed above for us to review. If accepted, students are then expected to complete a coursework component, which is typically 2 Ph.D. level units, along with 4 enabling units, as pre-requisites. Students who enrol must maintain a 70% average in all units to continue with their thesis. Among the units that students can currently take are

Core Enabling Units

ECC5650 - Microeconomic theory (6 points)

ECC5660 - Macroeconomic theory (6 points)

ECC5850 - Mathematical economic theory (6 points)

Economics Electives

ECC5690 - Theories in international and development economics (6 points)

ECC5730 - Advanced applied general equilibrium analysis (6 points)

ECC5810 - Public economics (6 points)

ECC5840 - Information, incentives and games (6 points)

ECC5870 - Advanced health economics (6 points)

Ph.D. level units

ECC6650 - Research topics in advanced microeconomics (6 points)

ECC6660 - Research topics in advanced macroeconomics (6 points)

ECC6690 - Research topics in open economy (6 points)

I am an Honours Student

If you're an honours student and really interested in research, you are close to being eligible to apply for a Ph.D. (it could be less than one year away for you). So, it's never too early to start planning for your future (again see the Economics Honours link for useful tips). At this stage in your studies, you have to choose wisely, and hopefully, you have already developed some areas of interest in economics. This is really important, because you cannot be effective in your research if you are not interested in what you are researching. Beyond research interests, it is also important to choose subjects that will give you the tools necessary to help you do advanced research. The table below summarizes the coursework component you would be expected to complete as you transition from Honours to Ph.D. Recent Monash Honours students who have enrolled in our M.Phil. have found the learning curve to be steep, but manageable.

I am an Undergraduate Student

If you're an undergraduate student you still have some time to plan. If you're currently studying at an Australian University and you want to apply to a Ph.D. in either Australia, Canada or England, then you should definitely think about doing well in an honours program, such as the Monash Economics Honours Program. From there, you should then probably think about doing a Master's degree. If you are interested in studying in the US you can apply directly to the Ph.D. program, after completing your undergraduate degree; an honours degree will help too, but it's not essential. You need not get a Master's degree, as they are typically more applied, and meant to train practitioners.

While the Department of Economics at Monash does not require that you have successfully completed all of the mathematics subjects listed below, you should consider that many aspiring Ph.D. students around the world, will have had that mathematical training, so it is in your interest to study as much mathematics as possible. Even though facility with mathematics does not translate into facility with economics, it is a language that economists often use to communicate with each other. One other issue to consider is whether you prefer to learn mathematics by proof, or simply how to use a technique, without proof. If you prefer more formalized training, take the mathematics stream, while if you prefer the more applied training, you may like the engineering stream (though there is not always an equivalent unit). So, if you have room in your course, and you are really interested in preparing yourself for higher degree research, you should also consider taking as many of the units in mathematics listed below, as possible:

The Bare Minimum to be Well-Trained coming into a Ph.D. program

• Introductory Econometrics; Monash Equivalent: ETC2410

AND

• Mathematical Economics; Monash Equivalent: ECC3840

You should also consider taking

• Applied Econometrics; Monash Equivalent: ETC3410

AND

• Mathematics for Economics and Business; Monash Equivalent: ETC2440

OR, if you are particularly interested in any of the fields below, and if you wanted to do a Ph.D. at a place such as Cambridge, Chicago, Harvard, Oxford, Princeton, or Yale, which require highly mathematical training, or wanted to do a Ph.D. at Monash and wanted to be well-prepared for the global academic job market, instead of the one Mathematics for Economics and Business unit, consider taking a stream of mathematics (if you are more interested in economic theory) or engineering units (if you are more interested in applying theory) as they are pre-requisites for more advanced units

Basic Foundational Units in Mathematical Techniques that are Useful for Economics

Interested in Economic Theory? Take the Mathematics Stream

Interested in Macroeconomics? Consider in addition

Interested in Financial Economics? Consider in addition

Interested in Econometrics? Consider doing a double degree in Economics and Econometrics

Complete a Double Degree under the Bachelor's of Economics (Please see this link for instructions about where to send enquiries)

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