PhD in Business Economics

Boston University’s PhD in Business Economics trains scholars to engage in economic research relevant to the intersection of business, markets, and public policy. Through rigorous coursework, seminars, independent research, workshops, and one-on-one consultation with faculty, students learn both economic theory and econometric analysis and learn to apply these quantitative analytical tools to practical problems. Students acquire advanced knowledge in microeconomics, macroeconomics, econometrics, as well as economics fields in their area of focus. Students also gain theoretical and practical knowledge of advanced research skills, essential for publishing in leading academic journals.

Learning Outcomes

The PhD curriculum has the following learning goals. Students will:

• Demonstrate advanced knowledge of literature, theory, and methods in their field.
• Be prepared to teach at the undergraduate or master’s level in a business school.
• Produce original research of quality appropriate for publication in scholarly journals.

Residency

After matriculation into the PhD program, a candidate for the degree must register for and satisfactorily complete a minimum of 64 graduate-level units at Boston University.

PhD in Business Economics Curriculum

The curriculum provides students with a combination of major and specialized content that incorporates both the depth and breadth of knowledge and research skills required to contribute to business economic research. It creates the capacity for learning and innovation in the face of rapid changes in the social, economic, technical, and political contexts of business.

Goals of the curriculum are that:

1. Students will demonstrate advanced knowledge of economics methods, theory, and literature.
2. Students will produce original research of quality for publication in scholarly journals.
3. Students will be prepared to teach economics to undergraduates and graduate students in business schools and/or economics departments.
   

Course Requirements

The minimum course requirement to complete the PhD is 16 courses (64 units).

Course category	Number of courses	Total units
Economic Theory & Econometrics Core	6	24
Field Area Courses	4	16
Elective Courses	4	16
CAS EC 705 Mathematical Economics/Computation	1	4
CAS EC 709 Advanced Econometrics 2	1	4

Course choices must be approved by the student’s faculty advisor prior to registration each term. The faculty advisor will approve whether courses will be accepted as meeting a core or elective requirement.

Economic Theory & Econometrics Core

Candidates are required to complete six courses within the Economic Theory & Econometrics Core as follows:

• CAS EC 701 Advanced Microeconomics 1 (4 units)
• CAS EC 702 Advanced Macroeconomics 1 (4 units)
• CAS EC 703 Advanced Microeconomics 2 (4 units)
• CAS EC 704 Advanced Macroeconomics 2 (4 units)
• CAS EC 707 Advanced Statistics for Economists (4 units)
• CAS EC 708 Advanced Econometrics 1 (4 units)

Field Area Courses

Students must acquire advanced knowledge of literature and theory in two field areas. Such competence is gained by coursework, participation in seminars, and independent study. Candidates must complete four doctoral courses in their field area. All courses will be selected with approval from the student’s advisor. Typical field areas in the Business Economics PhD program include, but are not limited to:

• Development
• Econometrics
• Economic Theory
• Empirical Finance
• Finance
• Financial Econometrics
• Health
• Industrial Organization
• International Economics
• Labor Economics
• Money/Macroeconomics
• Public Economics

Elective Courses

Students are encouraged to choose electives from one or more of the social sciences that economic and management theories draw on, for example: sociology, psychology, economics, and political science. Courses may be selected from doctoral-level courses, including independent studies, from any department at the Questrom School of Business, or from other graduate departments at the University.

When completing the elective courses, students must fulfill the following requirements:

• Four electives must be field courses (two courses per field).
• The remaining four are free electives, at least two of which must be taken outside of the two field areas. Of the four, at least one of the four must be taken at the Questrom School of Business.

The course CAS EC 790 Writing and Communication in Economics does not count towards the 8-elective course requirement.

Progression Requirements

As students progress through the PhD program, they are expected to achieve milestones in order to move forward in the program. These milestones include:

• Students are expected to have a grade point average of 3.15 or better in the six Economic Theory & Econometrics Core courses and a grade point average of at least 3.0 in all courses.
• Participation in a Research Mentorship in the first year of enrollment.
• In order to continue into the third year of the program, students must:
  • Complete a noncredit teaching intensive in the summer prior to third year.
  • Successfully pass CAS EC 705 Mathematical Economics/Computation with a grade of at least B–.
  • Successfully pass CAS EC 709 Advanced Econometrics 2 with a grade of at least B–.
  • Pass at least seven of the eight required elective courses with a grade of at least B–.
  • Achieve an overall GPA of 3.0.
• By the end of the third year students must:
  • Receive a passing grade on the Third Year Research Paper.
  • Pass two different, two-course fields. To pass a field, a student must pass each course in the field with a grade of at least B.
  • Complete all required elective courses with grades of at least B–.
  • Achieve an overall grade point average of at least 3.0.
• Starting in the third year, complete QST DS 999 Dissertation Study each term of the program until completion of all degree requirements. This will include presentation of work and summaries of research progress each term.