Frequently Asked Questions
I. PhD Program Inquiries
Q. The Department of Economics looks for applicants to possess strong mathematical backgrounds. What exactly does a strong mathematical background consist of?
Answer: Successful applicants generally have taken two years of calculus (through multi-variate calculus), economic statistics, and introductory econometrics. Courses of Linear algebra, differential equations, and Real Analysis are also helpful. One way to get an idea about the level of math required for PhD work is to look at any of these first-year textbooks: Microeconomics, by Mas-Collel, et. al., Introduction to Mathematical Statistics by Hogg & Craig, and Econometric Analysis, by Greene.
Q. What kind of financial support is available for students in the Economics PhD Program?
Answer: The Graduate School offers financial aid in the form of Teaching and Research Assistantships that provide tuition scholarships and stipends. A limited number of special University Fellowships are also available.
Q. Does the Department offer a MA Program in Economics?
Answer: The Department does not offer a Master Degree Program that is not in connection with either Foreign Service or Public Policy. PhD Students earn the "master's in passing" after accumulating 30 credits with a GPA of at least 3.0. Students who leave the PhD Program may receive an MA if they have accumulated a sufficient number of credits with a GPA of at least 3.0.
Q. Is it possible to do well in the Program if I work full time?
Answer: NO. The Economics Department requires full-time study and classes meet during the day. Some students elect to hold jobs once they reach the dissertation stage of the program, but they often find it difficult to sustain the interest of their dissertation committees and generally take much longer to complete their degrees.
Q. What are the strengths of Georgetown University’s PhD Program?
Answer: The PhD Program has two major strengths: International Economics and Microeconomic Theory. However, the program offers an excellent variety of fields including Econometrics, Economic Development, Economic Theory, Industrial Organization, International Economics, Labor Economics, Macroeconomics, Public Economics and Political Economy.
II. Application Inquiries
Q. When is it necessary to submit a TOEFL score in an application?
Answer: TOEFL scores are required for applicants whose first language is not English. However, it is not necessary for an applicant to submit a TOEFL score if they have obtained their undergraduate and/or graduate degrees from an institution which English is the language of instruction.
Q. What does the Department consider to be an acceptable GRE score?
Answer: The Department focuses on the quantitative and analytical sections of the GRE. Applicants who score is below the 80th percentile are most likely not considered.
Q. How do I check my application status?
Answer: The Graduate School will notify you when a decision has been made. The department is not allowed to release any information over the phone or by email. Please do not inquire.
Q. If I am admitted, may I defer matriculation until the subsequent year?
Answer: No. The department of economics does not allow any deferrals.
III. Average Statistics
Q. Approximately how many students get accepted into the PhD Program each year?
Answer: In recent years the PhD Program has received about 500 applications, of which about 90 are admitted and about 20-25 matriculate.
Q. Approximately, how many students are awarded financial aid each year?
Answer: We are normally able to provide financial aid to ten to twelve first year students.
Q. On an average, how many years does it take the majority of your students to obtain their PhD’s?
Answer: Over the past ten years, median time to completion is about five and one-half years.
IV. Financial Inquiries (all amounts are subject to change)
Q. What are the terms of an assistantship award?
Answer: The awards for the 2009-2010 academic year includes full tuition and a living stipend of $18,580 paid over eight months of the academic semester. The assistantships carry work obligations of fifteen hours per week.
Q. What are the terms of the University Fellowship?
Answer: University fellowships are five-year awards that provide full tuition scholarships and augmented stipends of $21,040 for the 2007-2008 academic year. They involve two years free of service obligation and 3 years of TA experience.
Q. What additional application materials do I need in order to be considered for financial aid?
Answer: There is no separate financial aid application. Applicants wanting to be considered for financial aid need only to mark the box that indicates so on the general application for admission.
Q. What is the cost of tuition and insurance for this academic year?
Answer: The current tuition is $1,531 per credit. A normal course load is 12 credits per semester. For I-20 purposes, living expenses are estimated to be $16,200, and books and insurance $3,234. For more information about insurance costs, please contact the University Registrar.
Year 1 $1,531 x 24 credits = $ 36,744
Year 2 $1,531 x 18 credits = $ 27,558
Year 3 $1,531 x 8 credits = $ 12,248
Year 4 $1,531 x 2 credits = $ 3,062
Year 5 $1,531 x 2 credits = $ 3,062
V. Email Etiquette
Q. How does the department respond to inquiries sent by e-mail?
Answer: Yes, there are several things of which you should be aware. First, it is rarely necessary to send an inquiry. The Graduate Admissions Office will let you know if your application is incomplete; the Economics Graduate Program Coordinator, Barbara Kalabinski, will let you know if the admissions committee has specific questions about your application. Second, applications are read by admissions committees who have access to all of the information in your file. Please do not email faculty members about your application, even if they work in the field that you want to study. Finally, be patient. You must keep in mind that we receive hundreds of inquiries and that it takes time to make sure that each email is answered correctly and completely. Sometimes applicants do not send their email to the person best-qualified to respond. In such cases, the recipient forwards the email to someone who can provide the correct information. Under no circumstances should an applicant send the same inquiry to several recipients or send the same inquiry several times.
VI. Admission Requirements
Q. What does the application consist of?
Answer: The Application consists of the following:
1. Application form and supplemental data sheet
2. 500 word typed Statement of Purpose
3. Official transcript(s) from all colleges/universities attended
4. Three letters of recommendation (in English)
5. Curriculum vitae (optional)
6. Entrance Exam (GRE, and/or TOEFL)
7. Application fee - No fee waivers
Q. What is the criteria for admission?
Answer: The admissions committee carefully evaluates the previous academic record for evidence of strong analytical and creativity as well as substantial training in mathematics and statistics. At a minimum, applicants should have had multivariate calculus and undergraduate statistics; courses in differential equations, linear algebra, real analysis, and econometrics would strengthen an application. Undergraduate training in economics is desirable but is not essential for applicants with appropriate alternative backgrounds. The application must include three letters of recommendation (from teachers who recently taught the applicant), official transcripts, statement of purpose, GRE score reports, and the application fee. The TOEFL score report is required for applicants whose first language of instruction is not English. The minimum requirement for the TOEFL is 550 on the paper test and 213 on the electronic test.
Q. When is the application deadline?
Answer: The deadline for admission and financial aid is January 1, 2010; The deadline for admission only is April 1, 2010.
Q. When and how will I be notified about the decision?
Answer: The Graduate School notifies applicants of decisions as quickly as possible. The department is not allowed to release any information over the phone or by email. Please do not inquiry.
Q. What are the GRE and TOEFL institutional codes for Georgetown University?
Answer: The GRE code for Georgetown University is R5244. The TOEFL code for Georgetown University is 5244.
Q. Can I transfer credits from my current institution?
Answer: Typically, No. However, the department occasionally awards “advanced standing” or transfer credit for graduate work completed elsewhere. We do not give transfer credit for the core theory courses (Microeconomics I & II, and Macroeconomics I & II). We can not give transfer credit for previous graduate work that applied to a previous degree. The maximum number of transfer credits that we award is 12.
