The Ph.D. Program in Economics
at the Graduate School of Economics, Finance, and Management (GSEFM): Key Features
Largest GSEFM Program:
Launched in 2004, the Ph.D. Program in Economics has grown to more than 100 students representing some of the most outstanding quantitative and creative minds from Germany and around the world. As the largest program within the Graduate School of Economics, Finance, and Management (GSEFM), its overarching objective is to produce outstanding economists capable of taking leading positions in academia or serving as experts in international institutions, government, and the private sector.
Exemplary Course Structure:
Compelling for its strong empirical focus, the Ph.D. Program in Economics offers a two-year cycle of doctoral-level courses developed specifically to transmit a rigorous methodological framework in the three core areas of economics (microeconomics, macroeconomics, and econometrics), followed by courses designed to expose students to the research frontier in a variety of fields of specialization (money and macroeconomics, microeconomics, asset pricing, coporate finance, econometrics, marketing, as well as law and economics). This program structure also ensures that both students who have had significant exposure to economic decision problems (but less comprehensive exposure to quantitative methods, as is typical for example for graduates from Bachelor programs in economics and business administration), as well as students who previously had limited exposure to economics (but strong exposure to analytical reasoning and quantitative methods) can succeed in the program.
Environment Conducive to Frontier Research:
After completing their coursework, students carry out research, gaining from an environment which includes structured interaction between faculty members and students, participation in international research networks and conferences, as well as research stays with faculty elsewhere who are leaders in a student's area of research. The dissertation is completed in the fourth year in the program and must be a major piece of research, its chapters having the potential for publication in a peer-reviewed international scientific journal. Students benefit not only from the program's location in Continental Europe's financial hub, but also from faculty members' linkages to policy making institutions such as the World Bank, the International Monetary Fund, and the European Central Bank, giving students the chance to engage in frontier research on substantive economic issues.
A Distinguished Body of Faculty Members:
The almost 40 faculty members of the Ph.D. Program in Economics have a wide range of teaching and research experience at various excellent universities and public institutions in Europe as well as the United States. The program's faculty members are involved in key international research networks, and in the past few years have published in journals such as American Economic Review, Econometric Theory, Economic Journal, International Economic Review, Journal of Applied Econometrics, Journal of Econometrics, Journal of Economic Theory, Journal of Financial Economics, Journal of International Economics, Journal of Monetary Economics, Journal of the European Economic Association, Journal of Finance, Review of Economic Studies, and Review of Economics and Statistics.
A Highly Talented and Vibrantly Diverse Student Body:
A large proportion of the applicants to the Ph.D. Program in Economics achieve the highest possible score – 800 points – in the quantitative part of the benchmark test for graduate student admissions worldwide, the GRE (Graduate Record Examinations). A number of incoming students have turned down offers of admission from prestigious graduate programs worldwide.
Currently there are approximately 110 students in the Ph.D. Program in Economics, of whom approximately one third are female and more than half are international students, hailing from five continents and more than 40 countries, including Bolivia, Brazil, Bulgaria, Cameroon, Canada, Chile, China, Colombia, Egypt, Greece, Indonesia, Iran, Israel, Italy, Korea, Latvia, Mexico, Moldova, Pakistan, Poland, Portugal, Romania, Russia, Slovenia, Syria, Taiwan, Turkey, United Kingdom, Ukraine, the United States, and Uzbekistan.
A Comprehensive Admissions Review:
In order to recruit outstanding national and international students, the admissions review of the Ph.D. Program in Economics is is based on a comprehensive and thorough assessment of candidates' application dossiers. The application dossiers include the following: application form; statement of motivation; two confidential letters of evaluation; GRE and TOEFL/IELTS test scores; as well as academic transcripts and degree certificates.
A Welcoming Atmosphere:
The Student Services Office of the Ph.D. Program in Economics strives to give students dedicated assistance – including "arrival-survival" in the initial weeks – so that students can focus on succeeding in their studies and academic pursuits. Ongoing student support includes academic orientation and counseling, grade and transcript issuance, student job search assistance, graduation, and alumni relations.
A First-Rate Campus:
Goethe University's new Campus Westend offers top-notch facilities, including the stimulating research environment in the House of Finance that is ideally suited to taking advantage of peer-group externalities. Beyond being ideally suited for academic interaction, Campus Westend offers an idyllic park-type setting and a rich set of important historic connotations.
Strong Placement Record:
As already noted, the overarching objective of the Ph.D. Program in Economics is to produce outstanding economists capable of taking leading positions in academia or serving as experts in international institutions, government, and the private sector. Past placements include Columbia University, Norwegian School of Economics and Business Administration, University of Amsterdam, Deutsche Bundesbank, European Central Bank, Federal Reserve Bank of Kansas City, Federal Reserve Bank of Philadelphia, Allianz Inverstment Management, and Union Investment.