Applied econometrics and some advice

[fieldnotes48]

Hi all,

 

I'm trying to figure out where I would like to apply, shooting for 10-12 different schools. My main interest is in applied econometrics and right now I have UO and Purdue in mind. My grades aren't the best at the moment, only a 3.07 GPA from 2 quarters last year that I struggled in, but my grades have only gone up since then (a 4.0 this past quarter in ODEs, Resource Econ, and Econometrics I). I hope to bring it up to a ~3.3 by this fall after I finish Real Analysis over the summer. This quarter I'm taking Number Theory, Econometrics II, a gen ed req, and retaking Linear Algebra II. Obviously I'm probably not qualified for top 25 so I'd be looking to shoot for schools in the 25-50 area. I know MSU is good with applied econometrics because of Wooldridge but I'm not sure I have any chance of that. Also, I really enjoyed Forestry Economics from my resource class and I'm planning on doing a research project on it, hopefully that will help. Should I be focusing on doing really well on GRE quant? Is there a certain score I should be shooting for (>160 or >165?)? Any advice is welcome!

 

Here's my profile.

 

 

PROFILE:

Type of Undergrad: Public State School combined degree in Mathematics/Economics

Undergrad GPA:3.07

Type of Grad:N/A

Grad GPA:N/A

GRE: Haven't taken yet

Math Courses: Calc I-III (B,B,B+), Linear Algebra I-II (B, retaking), ODEs (A), Statistics (A-), Discrete Math (C+), Intro to Probability/Statistics © (I'm not retaking this and I'm just instead taking Probability Theory followed by Mathematical Statistics instead), Number Theory (In Progress), Limits and Infinite Series (B+), Courses Left are Real Analysis, Probability Theory, Mathematical Statistics, Calc IV, Nonlinear Optimization, Linear statistical Models

Econ Courses (grad-level): N/A

Econ Courses (undergrad-level): Intermediate Micro (A), Econometrics I (A), Resource Economics (A), Courses Left are Econometrics II and III, Economic Forecasting, Intermediate Macro, Topics in Micro

Other Courses:

Letters of Recommendation: Either all will be from Econ professors or 2 will be from Econ and 1 from a Math professor.

Research Experience: N/A

Teaching Experience: N/A

Research Interests: Forestry Economics, Applied Econometrics, Statistics

SOP: Not written yet

Concerns: Not sure where to apply, My GPA is very low, What to focus on

Other:

Applying to: UO, Purdue, MSU, not sure where else

 

 

Edited March 26, 2014 by tm_member
Moved profile to main post.

[Catrina]

If you post your profile in standard form, we can provide you with better advice:

 

PROFILE:

Type of Undergrad:

Undergrad GPA:

Type of Grad:

Grad GPA:

GRE:

Math Courses:

Econ Courses (grad-level):

Econ Courses (undergrad-level):

Other Courses:

Letters of Recommendation:

Research Experience:

Teaching Experience:

Research Interests:

SOP:

Concerns:

Other:

Applying to:

[fieldnotes48]

Edited - moved profile to main post. Edited March 26, 2014 by tm_member
Moved.

[to2012]

I don't think that you are qualified for schools ranked between 25 and 40. My undergraduate GPA was similar to yours but I took all my math courses concurrently with my M.A. econ (GPA 3.9) and earned a math GPA of about 3.97 or something like that. I applied to grad school twice and had a lot of success in the range of schools ranked between 30 and 40 but had zero luck with schools ranked higher than exactly 30. I think that my outcome is the best case for you if you can improve your GPA through a masters or something of that sort. What is bad for you that I didn't have a problem with is that I didn't take any math courses until I got serious about school and was able to earn As in them.

 

With some substantial additional coursework (you really don't need more math, for instance, but you do need a substantially better recent record than what you can point to now) you could plan on applying to schools ranked 30-50 if you do quite well. Again, it's not that you don't have the prerequisite courses... you just didn't do that well in your math courses. Your econ grades are good but I really think that your profile has MA written all over it if you are serious about getting into a decent program.

[fieldnotes48]

I've heard that getting an MA in Econ is pretty much not worth it if you plan on going to get a PhD because it's not rigorous enough. I like the idea of an MS in Statistics, would that be an option that would allow continuation onto an Econ PhD?

[Catrina]

I hate having to write posts like this, but I think that to2012 is being a little too optimistic. As of now, I would be very surprised if you could get into any top 50, and you would probably have trouble getting into lower-ranked programs.

 

to2012 was able to correct his profile by getting a masters in econ, but since he took the math during his MA he had the huge advantage over you that his math grades were much better. That doesn't mean that things are totally hopeless, but you need to readjust your expectations.

 

If you don't mind my asking, why did you do so badly last year? More importantly, what makes you think that you will do so much better in the future? The math involved in a stat masters is quite difficult. Do you have a good reason to believe that you will do really well in one? Doing poorly in a masters (of any type) will probably make your results worse than not doing one (just ask MoneyandCredit). Therefore, if I were you, I would recommend doing an easier econ masters, making a point of doing well in it, and concurrently taking some grad stats classes.

[fieldnotes48]

I had some other stuff going on in my life during the first 2 quarters and school just wasn't a priority, and on top of that I was sick for the entirety of the 2nd one. If I put the work in, I do well in my schoolwork, that's the only thing that's ever really prevented me from doing well. If I did well in an Econ MA wouldn't it still not help me much because they aren't highly regarded?

[Catrina]

I had some other stuff going on in my life during the first 2 quarters and school just wasn't a priority, and on top of that I was sick for the entirety of the 2nd one. If I put the work in, I do well in my schoolwork, that's the only thing that's ever really prevented me from doing well. If I did well in an Econ MA wouldn't it still not help me much because they aren't highly regarded?

 

The low math grades are over more than two quarters, it seems (Bs are considered a low grade).

 

Typical US Econ MAs aren't as rigorous as would be ideal, but are more rigorous than undergrad econ and aren't totally useless. To2012 did one after having a poor undergrad record and got good results. While obviously attending a more rigorous MA would be ideal, you don't have the grades needed to get into one, and the most important thing is doing well in whichever program you are in.

 

Also, MA programs will likely allow you to take classes outside of the department. You could take a grad stat class or two without overloading yourself with hard classes that you may not do well in. I did a economic policy MA and was able to take PhD micro at top-25 during the program, and that helped me get into schools in your target range.

[fieldnotes48]

Ah okay. So then what would be a good range (as far as ranking goes) for looking at MA Econ programs for me? I know ARE is a separate area, but it's also one that I think would be enjoyable because I've heard a decent amount of applied econometric work is done in those departments.

[to2012]

If you are interested in empirical applied microeconomics then an ARE department is probably a great place to be, and they may be more forgiving of your math grades, because they won't be training you to be a theorist.

[fieldnotes48]

So even getting A's in upper level probability/math stats classes along with Real Anal and Calc IV wouldn't help my chances much? Wouldn't that show proficiency with the material that came before it? Also, what would be some good ARE schools to look at in your opinion? Thank you for the help, it's appreciated.

[setsanto]

So even getting A's in upper level probability/math stats classes along with Real Anal and Calc IV wouldn't help my chances much?

 

What makes you think that you will score much higher in these classes than in your previous math classes? It's easy to say you'll get A's in them, it's a lot harder to actually do it. Of course getting A's in those classes will improve your profile, but there's no point speculating until you have a grade on paper.

[fieldnotes48]

What makes you think that you will score much higher in these classes than in your previous math classes? It's easy to say you'll get A's in them, it's a lot harder to actually do it. Of course getting A's in those classes will improve your profile, but there's no point speculating until you have a grade on paper.

 

It was just hypothetically speaking. I have interest in the subjects and enjoy them, plus I'm motivated to do the work and communicate with professors whenever I need clarification on something. And even during down-time between quarters I'm reviewing material!

[Catrina]

It would definitely improve your profile, but I don't know if it would improve it enough to get into a good ARE program straight from undergrad. I second sesanto's point that it would be difficult to actually do that. Whatever you do, don't make the mistake that many people have made (including myself) of trying to correct deficiencies by taking too many difficult classes at once--doing so is a great way to end up with more weak grades.

 

In addition to the math grades (which is the biggest concern), your application could get looked over due to the GPA. A number of programs that I looked at (not ARE programs, since I didn't plan on applying to any) say on their websites that they generally only consider applicants with a GPA above 3.5, and will occasionally make exceptions for a GPA that is slightly below that.

 

I can't really tell you about specific programs given that I never looked at ARE programs, but the good thing about ARE programs is that it seems that a number of them have masters programs.

[fieldnotes48]

That's a good point about scheduling. I have 2 easy Econ classes left as well as 2 gen eds that I'm holding onto for the purpose of not overloading myself with a quarter of all upper level math. Would letters of recommendation help me avoid getting thrown out if they were from someone who is well known or has connections with the departments I'd be applying to? I will look into ARE programs.

[Catrina]

Good letters definitely help, but those are hard to get without some research experience. An independent study is a great way to get research experience if no RA jobs are available (and even if they are).

 

Taking three or four classes of upper level math in a quarter would likely be too much as well, at least until you see how you do in upper-level math courses in general.