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Re: 1st Year Stress
I took econ comps and they are hard, but no one has every failed my program because of them. The PhD is a series of big hurdles that are all very daunting. You take econ comps the first summer, you take comps for your department the next summer, the end of year three we had to present a paper to our entire faculty, you need to propose, get a job, and finally defend. I can encourage you in saying that the PhD admissions process isn't perfect, but their first cut is on ability to make it through the first two years. If you were even seriously considered for the program then you are capable of getting through those first hurdles.
On a somewhat related note, you should actively work on your mental health during the program. Most people who would choose a PhD are probably somewhat prone to anxiety and/or depression. Find ways to completely separate from work every so often and make sure to have some hobby you enjoy. Take assessments of your mental health somewhat regularly. If you have a significant other you should take their opinion seriously. Remember that by any objective standard you are doing pretty well in life. You are successful in a field that you love.