This course is not required but students with limited backgrounds in mathematics are urged strongly to attend. The time required to complete the Ph.D. program depends on a number of factors, including the student's preparation for and commitment to the course of studies. A well-prepared Ph.D. student should expect to complete the program in five years. Typically, students take three courses each semester during their first two years. Exceptionally well-qualified students without assistantship responsibilities sometimes take a fourth course.
Students complete the macroeconomic and microeconomic sequences in the spring semester.
The Comprehensive Examination in Economic Theory is given in August and again in January. Usually, students take this examination in August, that is, at the end of their first academic year. Students who fail the examination in their first attempt may retake it, but only once. In their second year students must select two fields for advanced study. In addition, a student's advisor, in conjunction with the Director of Graduate Studies, may approve another field offered outside the Department of Economics.