Econ Ph.D. without math in undergrad. Any guidance with next steps?

[tylerdurden]

Hello everyone!

 

I would like to thank you all for taking a moment to help me. This is my first time on this site, so if a similar thread already exists please point me in the right direction.

 

I have recently graduated from college, having double majored in Business/Finance and Accounting, and I currently work in a financial position. Although I believe my background is useful for an Economics Ph.D., I have not had much of an opportunity to take math courses while in undergrad. I do have Statistics and Calculus 1 & 2 on my college transcript but they were all taken during high school (5s on the AP exams). I believe that I am a strong math student that simply never took math courses in college because it was never required in an already full curriculum.

 

With that said, going forward, I'd really like to explore opportunities in Ph.D. programs. It appears most, if not all, of the top programs require a mathematics background (Linear Algebra, Multivariable Calculus, Econometrics and Differential Equations). Is it true that I should look towards taking these classes before applying to Ph.D. programs, or will there be a "grace period" to complete these math prerequisites once accepted into a program?

 

In the event I should take the courses before applying, I have been considering enrolling part time at a nearby community college (since it is extremely affordable). Would the fact that I'm fulfilling these requirements at a community college have a negative impact on an application as opposed to spending more money on a school with higher brand equity?

 

Thanks again for all of the responses and help. I am truly appreciative.

[chateauheart]

You'll not get a funded offer to any economics PhD (or master's) program without multivariable calculus, linear algebra, and econometrics. You'll likely need a year (with excellent grades) of math and advanced economics coursework beyond that to have a good shot at T30 programs.

 

In your case, you may also need to allocate some time to review Calculus I-II before taking Calc III, considering that it's 4+ years since you've taken them.

 

Taking the basic coursework at a community college (before, say, applying for a paid master's) is an option that some have tried, but you should always look for the most rigorously taught options possible. It is highly unlikely that you'll get directly into a PhD program in economics with only community college coursework.

 

Finally, in this forum we generally warn all students who have had no exposure to pure math/advanced economics yet to strongly reconsider whether they are fit for a PhD in economics program, since many people embark on this path with misconceptions about the skills and interests that are appropriate for a PhD in economics. Even disregarding the problems of career fit at this stage, a PhD in economics is one of the most difficult fields to get into and requires 2-4 years of preparation for somebody who is starting from scratch (e.g. your case), so even working towards an application is a huge investment.

 

Here is a link to a paper in economics which is fairly representative, in both methodology and topic, of what economists work on. It will be a good idea to read this (and other papers) and consider if you want a research career in economics before you spend too much time or money on coursework.

Edited August 21, 2015 by chateauheart

[moneyandcredit]

You'll not get a funded offer to any economics PhD (or master's) program without multivariable calculus, linear algebra, and econometrics.

False. Kansas State Economics does not have a strict requirement for funded students to have multivariable calculus or linear algebra. Students without such classes do have more difficulty handling the material, but they get by without too many problems if they learn the essential prerequisites as they go. In fact, I think that one of the best students in my cohort took only Business Calculus as an undergrad. It's helpful that instead of diving straight into PhD-level material we begin with a semester of MA-level microeconomics, mathematical economics, and statistics where all of the most important topics are drilled into incoming students pretty well.

 

Not that our PhD program has the level of prestige that typical forum members aspire to, but I think it's worth knowing that there are options for those whose math backgrounds are not at the level of a mathematics minor. I still strongly recommend the mathematical core suggested by chateauheart (as well as the elementary analysis so commonly recommended), however, as it makes *everything* a great deal easier and will likely allow you access to more prestigious programs where graduates have more lucrative placement opportunities.

[chateauheart]

Well, okay, there may be some exceptions in the unranked range, but I imagine you still have to excel elsewhere in your application to get a funded offer. There are just so many qualified students applying for PhDs in economics.

 

Lacking one of the three classes is a problem at higher ranked programs. Lacking all three classes is a big barrier to everywhere.

[moneyandcredit]

OK, I spoke too broadly there (and was overly snarky as well). One does have to have something else in their profile to impress the graduate admissions committee. As far as I've asked, the students who were admitted with funding despite only a semester or two of calculus had Masters degrees in Economics (since they're from other countries) along with work experience for a government agency in their home country. Applying with nothing but the minimum economics and mathematics course requirements would not likely yield more than a minimal admission.

[YaSvoboden]

You don't mention research interests. In an accounting PhD you do applied economics research, you just do it answering questions that are of interest to accountants. Your work experience and prior schooling would be much more useful there than in economics and you would be able to get into a decent program with less (though still some) remedial math coursework.

 

If you want to do macro, or labor, or something like that, ignore this post. However, if you are somewhat interested in financial markets or open to different areas, consider it. You can ask more questions in the Business PhD section.