Careers in economics are usually awarded to those who possess at least a Bachelor’s degree. Graduate degrees often lead to more lucrative and responsible positions. Those individuals who possess a PhD in Economics can choose careers as economic developers, chief financial officers, economic policy makers, and more. Jobs are available in both the public and the private sector. Jobs for those possessing a PhD in Economics are available on a global scale.
Typically, the student who is pursuing a PhD in Economics must complete two major phases. It usually takes two to three years for a student to prepare to become a doctoral candidate. During the first two semesters, the student is required to successfully complete coursework demonstrating competency in econometric methods, in methods of economic history and in fundamentals of both microeconomic and macroeconomic theory. This first year of study is devoted almost entirely to developing a strong foundation in economics.
The student must then spend the next two years, preparing for examination in two fields of specialization of their choosing. They must prepare a dissertation prospectus, and finally they must take an oral examination. With the successful completion of these steps, the student is then advanced to candidacy.
After advancing to candidacy most students take one to two years to complete a dissertation. Dissertations must be based on the student’s original research and must represent a significant contribution to the body of Economic knowledge. Although some students are able to complete the program quicker, students usually require five years to complete he program to earn a Ph D in Economics.
Every state is home to several traditional colleges and universities offering programs leading to a Ph D in Economics. A viable option for many candidates is to earn that advanced degree through online colleges and universities. Although the requirements are nearly identical for students attending online and traditional colleges, the online universities offer the student a degree of flexibility and convenience not found in traditional colleges. When considering the scope of work involved, it is easy to see why a good number of students often require additional time, or at least have the option of requesting additional time. Online colleges often allow students to complete coursework at a pace that is comfortable for the student. Course completion may be accelerated, or delayed if necessary. The curriculum taught in online classes is identical in scope to classes taught in brick and mortar institutions. Professors teaching at both types of colleges are well trained, qualified, and professional. When considering a traditional college or an online college, the prospective student should make certain that the college is accredited.
The cost to obtain a PhD in Economics is substantial. However, prospective students should not be discouraged by the fees charged. Students at both traditional colleges and online colleges are qualified for the same financial aid. Government grants and loans are awarded without bias to students at both types of institutions. While grants are need-based, student loans are available for graduate students, as long as they are not in default on another student loan. While attending college, existing student loans may be deferred. Repayment does not commence until after the student has completed his or her studies and has graduated. The best source of information regarding financial aid is usually found in the financial aid office of the college.