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I'd say that you have a pretty solid profile, depending where you went for undergrad. (And hence who your letters are from.) I would highly recommend applying for the NSF, since applying for it sends a good signal to the various admissions committees, and winning one can reverse negative admissions decisions. (I've heard that if you win an NSF, you can go to MIT whether or not they accepted you.)
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MIT Economics, class of 2011
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