Theory Vs Emperical Economics!!!

[DismalScientist]

Someone gave me an advice today that if i go to a low-ranked university (for econ PhD), I should focus on developing my emperical skills since it is unlikely that I will become a theorist (which apprently is reserved for those at the top schools). I am just wondering if everybody has thought of this when they decided which school to attend (apply to) - or is it that all economists want to be theorists and their ability determines whether they will be theorists or emperical economists? Would someone shed light on this?

~DismalScientist

[crslr]

You need very different skills to be a good empirical economist from those of a good theorist. First-year coursework is all theory, so the "best students" in that phase tend to be those with suitable backgrounds for theory. Background correlates with interest, hence the perception that the the "best students" go on to be theorists.

Adcoms select for success in the coursework stage; many potential theorists are "safe admits" by this criterion; therefore they end up at good schools. That doesn't mean you can't do theory elsewhere, but it is less expected to find a talented theorist outside top schools than to find a talented applied economist there.