Normal Sequence of Studies
What follows in the next three paragraphs are recommendations, not requirements.
During the fall term of the first year, students usually take Economics 500 (General Economic Theory: Microeconomics), Economics 510 (General Economic Theory: Macroeconomics), Economics 550 (Econometrics I), and an economic history class that would satisfy the economic history requirement ((4.4) above) if a grade of at least HP- were obtained. In the following spring, they usually take Economics 501 (General Economic Theory: Microeconomics), Economics 511 (General Economic Theory: Macroeconomics), Economics 551 (Econometrics II), and a fourth course in economics or related subjects, such as probability theory, mathematics, finance, or political science. Students who are well prepared in econometrics may take an advanced econometrics course instead of Economics 550 in the fall of the first year after consulting the Director of Graduate Studies and an appropriate econometrics faculty member.
During the second year, students normally take economics courses in specialized fields, such as industrial organization, mathematical economics, international trade, or public finance. These courses serve as preparation for the oral qualifying examinations. Students may also take courses related to economics from other departments. It is a good idea to satisfy the econometrics paper requirement in the second year and to locate a faculty advisor to advise them about their studies.
The third year is normally devoted to finding a dissertation topic and to beginning research on it. In this year, students are expected to make the transition from being a taker of classes to a participant in research. Important elements in achieving this transition are thinking critically about material learned, reading widely, choosing research topics that are feasible and of interest to the student, and gaining contact with faculty. Students can expect to take the initiative in making such contact.