Graduate Program / How to Apply

How to Apply

ADMISSIONS AND FINANCIAL AID

                  [Note:  See also our page of Frequently Asked Questions in PhD admissions.]

Prerequisites and Preparation for Graduate Study.  Each autumn, the Chicago Department of Economics enrolls an entering class of approximately 25 to 35 graduate students, who come from many countries around the world, and have been selected from a large and diverse group of applicants. Admission to graduate study requires a bachelor's degree or equivalent. This degree need not be in economics, although some background in Economics is certainly desirable. There are no formal course requirements for admission, but a strong background in mathematics is important. At the PhD level, the study of economics requires an absolute minimum of one year of college calculus and a quarter (or semester) each of both matrix algebra and mathematical statistics (that is, statistics using calculus, as distinct from introductory statistics for social science). Prospective students who lack this preparation and have remaining free time in their undergraduate schedules are urged to take these courses before beginning graduate study.

Beyond these basic prerequisites, many of our applicants have taken other advanced mathematics courses, such as real analysis, have completed some graduate-level classes in economics or related fields, or have had some other significant exposure to research in economics. Many strong applicants have ranked at or near the top of their graduating class.

The Admissions Process.  There is a single application for both admission and financial aid. Applications must be completed online at https://grad-application.uchicago.edu/. No printed (hard-copy) information is available. All material, including the application, is available on-line. If your questions have not been answered in the on-line materials, please feel free to email the Social Sciences Admissions Office at: admissions@ssd.uchicago.edu.

All supplementary or supporting documents for your on-line application (such as transcripts, letters, scores, writing samples, etc.) should be mailed to the University of Chicago, Division of the Social Sciences, Office of Admissions, 1130 E. 59th Street, Room 105, Chicago, IL 60637.  DO NOT send any such materials directly to the Department.

The application deadline for both domestic and foreign students is December 28.

All applicants are required to submit scores from the Graduate Record Examination (GRE) General Test [Institution Code: 1832; Subject Department Code: 2299 for general social science]. Foreign applicants whose native language is not English should also submit scores from the Test of English as a Foreign Language (TOEFL) or the International English Language Testing System (IELTS) [Institution Code: 1832]. The University requires a minimum TOEFL score of at least 25 in each section on the computer-based test (or, on the internet-based test a minimum of 26 in each section, and on the paper-based test a minimum of 60 in each section). A minimum score of 7 in each section is required for the IELTS.  Applications must be complete for the January review, including scores from the GRE and TOEFL if appropriate. These exams should be taken no later than November 15. In deciding when to register for the GRE and TOEFL exams, applicants should particularly note our yearly cycle in order to assure that their applications receive full consideration.

Admissions and financial aid decisions are announced by late March. Given the yearlong sequence of courses, all new students must begin their study in the Autumn Quarter.

The Department of Economics has no master's-level courses and does not admit students who intend to do only a master's degree. However, PhD students may apply for and receive a master's degree after completion of a set of courses and examinations that they have taken as part of the doctoral program.

Financial Aid.  University of Chicago fellowships are awarded upon admission and are offered at two levels:

1) Level One - Assuming good academic progress and annual departmental recommendation, this award is for a total of five years.  It provides full tuition, a minimum of $20,000 annually in stipend or a combination of stipend and teaching salary, and University student health insurance.  The fellowship also provides two summer stipends in the amount of $3,000 each, disbursed in accordance with departmental guidelines.

2) Level Two - Assuming good academic progress and annual departmental recommendation, this award level provides full tuition and student health insurance for two years. Contingent upon passing the department’s standard review of second-year students to determine if they should remain with the program, the award will provide full tuition, health insurance and annual support of $20,000 from stipend and teaching salary during years three through five and one summer grant of $3,000.

Students are expected to serve in a teaching capacity, usually as teaching assistants in up to two courses, in the third, fourth and fifth years of study.

Additional part-time employment as research assistants provides further support for many students. The University also participates in a number of educational loan programs for U.S. citizens and permanent residents.

Applicants with outstanding undergraduate records are urged to compete for national fellowships such as the National Science Foundation awards. A national award brings more than financial support; it is also a form of academic recognition for excellence. Students who enter national fellowship competitions but fail to receive awards in no way jeopardize their chances for University fellowship support.

Criteria for Admissions.  The Committee on Admissions takes account of a wide range of factors to evaluate each applicant: the previous educational record, letters of recommendation, writing sample, previous research experience, the applicant's scores on the GRE and on the TOEFL or IELTS, the compatibility of the applicant's research interests with the program strengths in the department, and any special factors that the applicant may bring to the committee's attention. The committee evaluates each applicant on the basis of all material available; no arbitrary cut-offs in terms of a student's grade point average or test scores are used.

The goal of the PhD program is to train students for careers of research and teaching in economics, broadly defined. A primary concern in admissions is the likelihood that a student will be able to complete the PhD program with distinction and embark on a successful research career. The admissions committee looks for evidence that the applicant will be able to master the quantitative analytical methods of modern economics and will be able to do high-quality independent research. A recommendation letter is most effective when the recommender can explicitly compare the applicant's preparation and research potential with others who have been successful in top economics PhD programs. In the Statement of Academic Purpose, the Writing Sample, and the choice of people to write recommendation letters, applicants should try to provide information and evidence about their interests and aptitude for research in economics.

More information.  For more information, applicants can visit the Economics Department website or read the Graduate Program Guidebook for current students. See also our page of Frequently Asked Questions in PhD admissions.