Should I even attempt a PhD?

[zoram]

Background:
I have my Bachelors in economics from a major state university. My undergraduate GPA is about a 2.7 with various C's, D's, and F's. I was a terrible student and don't have any valid excuses for my grades.

Fast forward a few years and I've gotten my act together. I have my MBA from a well-regarded state university and my MS in applied economics from a different mid-level state university. This time, my grades are much improved: I have a 3.6 GPA for my MBA and 3.8 GPA for my MS in applied economics. I have earned A's in calculus I - III, discrete mathematics, linear algebra, and differential equations.

Situation:
I loved my applied economics classes so much that I'm considering going for my PhD. Given my really, really poor undergraduate performance, I'm concerned that I may be locked out of any decent school. I don't have any delusions that I can get into a top 10 or perhaps even a top 50 program. All I want is to get into a mid-range university that has a decent applied, developmental, or public economics program. I'm leaning towards continuing to work in the private sector while teaching at a local university or community college at the adjunct or part-time professor status at the same time.

If it would help, I can take multivariable calculus, real analysis, etc, before applying. Do I have any chance at all? Should I even bother with a PhD?

Thank you in advance. This forum is an absolute treasure.

EDIT: My GRE scores are Q750/V780/A5.5.

[econhannibal]

I am very new to this site, but I'm learning that a poor ugrad record combined with a great Masters level record is not an automatic rejection. Showing improvement over the years looks good to adcoms.

Did you take the GRE for the MS program? What were your scores? I think these are more important than your ugrad grades.

[3ohto4oh]

sounds like me, minus the MBA - I am in at UNC

of course additional math will help, but you have already repaired much of the damage - or enough for top 50

[KGkhan23]

Do note that a PhD is not necessarily required to teach at a community college. If you have a desire to do research, or if you'd prefer to teach at a better place, then a PhD makes sense. Just make sure it's compatible with your goals before you take on a 5 year degree.

[NewBoston]

From the sound of it, you should have a reasonable chance with institutions ranked around 50. You should absolutely send a few applications to the top 15-25 range; the marginal cost is low since you are already doing apps. Also, you should keep in mind that generally, the school may be ranked lower overall than the rank in the specific fields you are interested in. Thus, even if you get into a school ranked around, say 50 overall, the rank in your particular interests may be around 20 or 30, leading to better placements both in academia and industry. Leveraging this fact alone in selecting schools to send apps to should help you get into an optimal program for your goals.

[Zmoney]

From the sound of it, you should have a reasonable chance institutions ranked around 50. You should absolutely send a few applications to the top 15-25 range; the marginal cost is low since you are already doing apps. Also, you should keep in mind that generally, the school may be ranked lower overall than the rank in the specific fields you are interested in. Thus, even if you get into a school ranked around, say 50 overall, the rank in your particular interests may be around 20 or 30, leading to better placements both in academia and industry. Leveraging this fact alone in selecting schools to send apps to should help you get into an optimal program for your goals.

I absolutely concur

[Weary]

Forget real analysis and show people at some think tank that you mean business. GRE Q800 wouldn`t harm either and you might shoot at some public policy schools that must be caring about the real world like RAND Pardee.

[singmeat]

dude.

Look at my profile. If I can, you can.

[econocrat]

You should also consider doing economics phD at a business school since you have MBA and they may be less stringent in admissions...

[zshfryoh1]

You should also consider doing economics phD at a business school since you have MBA and they may be less stringent in admissions...

An econ PhD at any B-School with a good econ PhD program like NYU-Stern, NWU, Stanford, etc are almost always harder to get into than the standard econ PhD program at the same school. They generally place better, often fund better and have more personal interaction with students, and typically only accept 2-3 out of 100-150 applicants while the econ PhD's at the same schools typically accept 25-40 out of 600-800. Having an MBA will make no difference at these programs either. The lower level B-schools rarely have an econ PhD program, usually only a strategy program, which does not fit the OP's interests in development and public economics. Even the econ programs at top B-schools usually concentrate on IO and micro theory which don't fit the OP's interests. The only B-school econ program that I could see the OP fitting in at is the Wharton program, and the OP would need an extra 30 points on the GREQ to have any chance at getting in there.