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PhD Program in Economics

Full-time study for the PhD in Economics at the ANU Research School of Economics normally takes four years, and consists of two parts – a coursework component (Part A) and a research component (Part B). In the coursework component, students learn the foundations of economic theory and econometrics, and have the opportunity to specialise in fields of interest. In the research component, students contribute to their field of specialisation by writing a thesis under the guidance of a panel of supervisors.

CRICOS #: 048345A

Duration: 2 to 4 years full time (4 to 8 years part time)

Before you apply

  • Refer to the admission requirements and determine if your qualifications are sufficient for direct entry into the Program. If you do not satisfy the eligibility criteria, or if you do have the required qualifications but it has been a while since you last studied and you prefer to have a refresher before starting your PhD, you can choose to first complete the Master of Economics offered by the Research School of Economics (RSE), before applying for admission to the PhD program.
  • Identify one or two academic economists at ANU whose research interests are close to yours as potential supervisors (useful links: economists at the RSE, researchers at ANU). Note that even though other ANU websites may recommend that you contact potential supervisors before submitting your application, contacting the researchers directly is not required or encouraged for the Economics PhD – you may list the names of potential supervisors on your application form without contacting them first.

Once you have identified one or more researchers you may like to work with, determined that you meet the admission requirements, and developed a brief research proposal, please proceed with an online application

Application deadlines

The first semester of the ANU academic year starts in February, and in general, admissions will be processed for entry in semester one of the following year. Applicants should also note that admitted students are expected to attend the pre-PhD summer course Mathematical Techniques for Advanced Economic Analysis, which is offered during January and February, before the start of the semester.

All applications for entry in semester one of the following year must be submitted before 31 October. In addition, international applicants whishing to be considered for an ANU scholarship should submit their application before 31 August.

Due to the sequencing of the coursework that is required for the PhD, applications for entry in the second semester (starting in July) will only be considered for applicants who have completed the ANU Master of Economics, or have a strong background in mathematical and statistical techniques. (ANU Master of Economics students interested in applying for the PhD should in the first instance discuss their application with the RSE Masters convenor after completing the first year of the Masters coursework.)

All applications for entry in semester two must be submitted before 31 March.

In order for an application to be considered, all supporting documents, including academic transcripts, reference letters, GRE test results and IELTS or TOEFL scores, if applicable, must be received by the ANU before the respective application deadlines.

If an applicant is currently completing an honours or masters degree, and final transcripts and results are not available before the application submission deadline, he/she should submit all available documents prior to the deadline, and will be required to submit the remaining results before a final decision on admission is made.

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Academic requirements

The admission requirements for the Economics PhD program reflect the advanced knowledge in economics that students will require in order to undertake the coursework component of the degree, as well as evidence of sufficient research experience and skills to indicate that students can successfully complete the research component of the degree. To be admitted into the PhD Program in Economics, candidates must have one of the following:

  1. A degree of bachelor with first or upper second class honours in economics from an approved university;
  2. A degree of bachelor with first or upper second class honours in mathematics and/or statistics from an approved university which includes a major (or equivalent) in economics, and have obtained a pass at least at the level of distinction in a third-year economics course;
  3. The ANU Master of Economics, or an equivalent postgraduate qualification in economics from an approved university, with results that are deemed by the convener to be at least equivalent to upper second class honours at ANU.

Furthermore, an applicant will have to show evidence of the following:

  • advanced knowledge of microeconomic theory, macroeconomic theory and econometrics;
  • an adequate background in mathematical methods and mathematical economics (at a minimum, at the level of the book Mathematics for Economists by Simon and Blume);
  • evidence of research experience, e.g., in the form of an honours or masters thesis or research project, at a standard equivalent to an upper second class honours degree.

If you satisfy the eligibility criteria and have identified a potential supervisor, then apply online.

Additional material to upload with your application should include:

  • transcripts from previous study,
  • a brief research proposal that outlines your proposed area of research and the questions that you are planning to address as part of your PhD thesis,
  • a copy of your honours or masters thesis, and,
  • as much detail as possible about your previous study in economics (e.g., course outlines of advanced economic theory and econometrics courses taken, including details of textbooks used).

The online application also requires three referee reports to be submitted directly by your referees, using a web-based system provided as part of the application process.

GRE requirement

Applicants must also submit their GRE General Test results as part of their application. The GRE Designated Institution Code for the ANU College of Business and Economics is 7833. Applicants should use this code to submit their official GRE results.

Applicants who have already completed part of the coursework required for the PhD as part of an ANU Master of Economics or ANU Honours in Economics degree, are exempted from the GRE requirement. Furthermore, applicants who have completed an Honours in Economics degree from an Australian or New Zealand University are also exempted, but are encouraged to provide GRE results to improve their chances of admission and scholarship support.

English language requirements

All students must satisfy the University’s English Language Admission Requirements. In particular, an international student who is not a native English speaker may satisfy these requirements by submitting evidence of an IELTS with an overall score of at least 6.5 with no component less than 6.0, or a paper-based TOEFL score of at least 570 with at least 4.5 in the essay component.

Offers of admission

After your application and all its supporting documents (including referee reports) are received by the Admissions Office, your file will be forwarded to the PhD convenor. If you are assessed to have satisfied the eligibility criteria, and your area of interest matches the interests of an ANU economist with available supervisory capacity, then you may be issued an offer of admission. Note, however, that since admission is competitive and supervisory capacity is limited, offers of admission will not be issued until after the relevant application deadlines, irrespective of the date when you submit your application.

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Scholarships

To apply for an ANU scholarship, you only need to tick the relevant box or boxes on your application for admission, and indicate the scholarships you are applying for on your application form. If you do so, note the scholarship deadlines, and submit your application in time for it to be assessed in conjunction with the relevant scholarship rounds, i.e., before 31 August for international applicants, and before 31 October for domestic applicants (Australian and New Zealand citizens, Australian permanent residents, and holders of an Australian permanent humanitarian visa).

Note also that certain scholarships aimed at international students and offered by the Australian government, such as Endeavour Scholarships or Australia Awards, have external application procedures, and are subject to additional deadlines. Students who are applying for any such external scholarships should consider the associated deadlines and requirements, and note their intention to apply for these scholarships in their application.

Please see the ANU Scholarships page for information on scholarships administered by the University. Applicants who are unsuccessful in securing a University scholarship may also be offered other types of funding support by the Research School of Economics, such as tuition waivers for international students, partial stipends, or through employment as tutors (i.e., teaching assistants) or as research assistants.

Domestic applicants

All domestic students enrolled in a postgraduate research program, such as a PhD, are awarded an Australian Government Research Training Program (AGRTP) Fee Offset Scholarship, and are therefore not required to pay tuition fees. Past domestic scholarship recipients have usually been awarded one of the following scholarships:

International applicants

International PhD students are required to pay tuition fees. However, international applicants with a very strong academic record that is assessed by the admissions committee as being equivalent to an ANU first class honours degree in economics, if admitted to the Program, will generally qualify for a tuition waiver in the form of an HDR Fee Remission Merit Scholarship.

The most common types of University scholarships that international Economics PhD students have received in past years are the following:

In addition, some past and current students have also been awarded the following country-specific scholarships (students considering to apply for these scholarships should note the specific application instructions available through the links below):

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Coursework component (Part A)

Pre-PhD Course

All admitted students are expected to arrive in Canberra four to six weeks before the beginning of the semester and attend the pre-PhD course in Mathematical Techniques for Advanced Economic Analysis.

Coursework

Candidates are normally required to successfully complete eight semester-length courses (including five compulsory courses) over two consecutive semesters of full-time study. Candidates holding the ANU Master of Economics degree may be exempted from part of the coursework requirement, at the discretion of the PhD convenor.

The coursework for the PhD in Economics consists of the following:

  • Three compulsory courses:

  • At least two of:

  • Three electives chosen from the list below.

Elective Courses are chosen in accordance with the candidate's research interests and on the advice of the candidate's supervisor from the list below. Note that not all courses are offered in all years. Check for availability.

Microeconomics

Macroeconomics

  • ECON8001 Topics in Macroeconomics
  • ECON8050 Economic Growth 
  • ECON8009 International Monetary Economics 
  • ECON8070 Political Economy of Macroeconomic Policy 

Quantitative tools

  • ECON8014 Computational Methods in Economics 
  • EMET8001 Applied Micro-Econometrics
  • EMET8010 Applied Macro & Financial Econometrics 
  • EMET8012 Business & Economic Forecasting
  • MATH6110 Analysis 1: Metric Spaces & Applications
  • MATH6212 Analysis 2: Topology, Lebesgue Integration & Hilbert Spaces
  • MATH6214 Advanced Functional Analysis, Spectral Theory & Applications

Other specialisations

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Research component (Part B)

Upon completing successfully the compulsory courses and electives in Part A, and with the approval of the Research and HDR committee, students proceed to the research component (Part B) of their program. Any student with two or more fails cannot to proceed to Part B.

Part B normally takes 36 months of full-time research. During this time, each candidate writes a thesis which, upon completion, is submitted for examination. The thesis is examined by two to three examiners who are experts in the relevant field. The PhD degree is awarded solely on the basis of the examination of the thesis. The examiners would be aware that the candidate has completed coursework requirements, but the level of performance in coursework is not taken into account in examining the candidate for the award of the degree.

During Part B, each candidate is expected to present their research at one of the seminars run by the Research School of Economics, in each of the three years of research (when studying on a full-time basis). In their final year candidates are also required to give a final presentation (Oral Presentation) that is usually held three months before thesis submission.

The thesis topic and the supervisory panel

When a PhD student is admitted to candidature, a provisional supervisor, usually the PhD convenor, has the responsibility of overseeing the student's candidature until a principal supervisor is appointed. The Director of the School and PhD convenor determine the principal supervisor and supervisory panel in consultation with the student. Sometimes students change their topic, and this could necessitate changes in the supervisory panel. These are coordinated by the principal supervisor or the PhD convenor. All supervisory changes have to be approved by the convenor of the Program.

Progress milestones

It is University policy that each candidate's progress be reviewed periodically. Each year, PhD candidates are required to submit a Progress Report/Annual Plan, which summarises progress and identifies any difficulties or changes to the previous research plan and outlines the intended research to be undertaken over the next twelve months. The Progress Report and the Annual Plan form the basis for the Annual Review.

In addition to these, in the second year, candidates must submit a Thesis Proposal for review by the supervisory panel. The Thesis Proposal is generally submitted in conjunction with the candidate's first seminar presentation, and includes a description of the research to be undertaken in the thesis, and a summary of the structure of the thesis and its time plan. The purpose of the Review is to assess the originality, significance, adequacy and achievability of the candidate's thesis plan.

Please refer to research student milestones for further details. 

Thesis Submission and Examination

Please refer to the ANU thesis submission guidelines.

Apply now

Job placements

The Research School of Economics provides job placement services for its PhD graduates. Our PhD students consistently earn places in the academy, government sector, non-profit organisations, and private industry. Here are some examples of recent placements:


Academic institutions
Australian National University
University of Sydney
Macquarie University
University of Tasmania
Queensland University of Technology
Humboldt University Berlin
University of Hull
Norwegian Business School
University of Tokyo
Hitotsubashi University
Peking University
Hunan University
Jinan University
University of Indonesia

Government institutions
Australian Treasury
Department of Employment, Skills, Small and Family Businesses
Bank of Canada
Bank of Japan
ACT Treasury

Non-profit orgranisations & private industry
International Monetary Fund
CSIRO, Canberra
Korea Labor Institute

Recent PhD students and supervisors

A full list of RSE PhD in Economics is available online at https://openresearch-repository.anu.edu.au/.  Here is a list of recent PhD students and supervisors


Sanghyeok Lee
PhD thesis: Essays on missing data problems
Supervisors: Tue Gorgens (Chair), Myoung-jae Lee and Robert Breunig

James Taylor    
PhD thesis: Topics in Information Structures
Supervisors:  Rodrigues Jose (Chair), Simon Grant and Idione Meneghel

Jilu Zhang     
PhD thesis: Diversity in the Labour Market: The Role of Trade Unions, Creativity and Accent
Supervisors: Alison Booth (Chair), Xin Meng and Juergen Meinecke  

Anpeng Li    
PhD thesis: Three Essays on Firm Dynamics and Development
Supervisors:  Cagri Kumru (Chair), Xin Meng and Kailing Shen

Zhang Bo
PhD thesis: A Research on Real Equilibrium Rate and Forecasting the Exchange Rate
Supervisors: Timothy Kam (Chair), Rodney Strachan and Joshua Chan

Bin Chen     
PhD thesis: Essays in Law and Economics
Supervisors: Jose Rodrigues (Chair), Martin Richardson and Maria Racionero

Qingyin Ma    
PhD thesis:
Continuation Value Methods for Sequential Decisions: A General Theory
Supervisors: John Stachurski (Chair), Chung Tran and Joshua Chan

Jamie Cross    
PhD thesis: Essays in Macroeconomics
Supervisors:  Timothy Kam (Chair), Chung Tran and Joshua Chan

Patrick Hamshere
PhD thesis: Foundations and applications of microeconomic theory
Supervisors:  Jose Rodrigues (Chair), Martin Richardson and Maria Racionero

Michinao Okachi
PhD thesis: What is the best strategy when a government accumulates its massive debt, fiscal surplus, inflation or partial default?
Supervisors: Chung Tran (Chair), Tatsuyoshi Okimoto, and Cody Hsiao

Christopher Perks
PhD thesis: Essays on Durable Goods in Dynamic Stochastic General Equilibrium (DSGE) Models
Supervisors: Chung Tran (Chair), Richard Dennis, Shaun Vahey and Ippei Fujiwara

Bogdan Klishchuk
PhD thesis:  Essays on Information and Markets
Supervisors: Rabee Tourky (Chair), Simon Grant, Idione Meneghel and Kieron Meagher

Aubrey Poon    
PhD thesis: Three Essays in the Application of Time-varying parameter and Stochastic Volatility Models to the Malaysian and Australian Economy
Supervisors: Joshua Chan (Chair), Timothy Kam and Chung Tran

Luis Uzeda      
PhD thesis: Studying structural changes in multivariate systems using Bayesian methods for state space mixture models
Supervisors: Rodney Strachan (Chair), Joshua Chan and Timothy Kam

Chenghan Hou
PhD thesis: Rationality and Imperfect Information on Monetary Policy
Supervisors: Joshua Chan (Chair), John Stachurski and Tue Gorgens

Wenjie Wei    
PhD thesis: Welfare and Environmental Effects of Subsidies and Tariffs in North-South Trade in Renewable Energy Equipment
Supervisors: Marti Richardson (Chair), Quentin Grafton and John Tang

Tomohito Okabe    
PhD thesis: Essays on Political Macroeconomics
Supervisors: Timothy Kam (Chair), John Stachurski and Chung Tran

Dana Hanna    
PhD thesis: Economics of child cognitive development: family size, birth order and sibling gap
Supervisors:  Juergen Meinecke (Chair), Robert Breunig and Brian McCaig

Varang Wiriyawit
PhD thesis: Implications of Structural Parameter Bias and Trend Specification in DSGE Models
Supervisors: Timothy Kam (Chair) and Rodney Strachan

Saran Sarntisart
PhD thesis: Growth, Poverty & Income Distribution in an Islamic Economy
Supervisors:  Cargi Kumru (Chair), Budy Resosudarmo and Warwick McKibbin

Dewa Gede Karma Wisana    
PhD thesis: Essays on Rural-to-Urban Migration, Labor Market and Economic Development in Indonesia
Supervisors: Xin Meng (Chair), Budy Prasetyo Resosudarmo and Daniel Charles Suryadarma

Guochang Zhao
PhD thesis: Essays in Labour Economics
Supervisors: Xi Meng (Chair), Tue Gorgens and Paul Chen

Dang Duc Anh
PhD thesis: Essays on Institutional Changes in Vietnam
Supervisors: Xin Meng (Chair), Tue Gorgens and Robert Gregory

Wang Lei
PhD thesis: Money, Asset Prices and Financial Crisis
Supervisors: Chung Tran (Chair) and Pedro Porqueras Gomis

Swan Anthony    
PhD thesis: Essays on International Trade, Multinational Production and Innovation
Supervisors: Martin Richardson (Chair), Ivan Cherkashin, Trevor Breusch and Stephen Dowrick

Cai Yiyong    
PhD thesis: Three Essays on the Economics of Growth, Resource Development and Climate Change.
Supervisors: Warwick McKibbin (Chair), John Stachurski, Renee McKibbin and Alison Stegman
 
Scott McCracken    
PhD thesis: Essays in Microeconomics
Supervisors: Martin Richardson (Chair), KieronMeagher, Jose Rodrigues and Christopher Jones

Susamto Akhmad Akbar    
PhD thesis: Essays on Political Economics and Political Economy
Supervisors: Robert Breunig (Chair), Yusaku Horiuchi and Gaurab Aryal

Updated:   30 March 2017 / Responsible Officer:  CBE Communications and Outreach / Page Contact:  College Web Team