Application, re-application

[regisseur]

I came to the economics party a little late - did philosophy at a (top 3) liberal arts college, worked a variety of jobs for three years, then started an IR masters in a top-tier program. I've really, really liked the micro & macro classes, and decided that I'd like to apply to PhD econ programs. Currently I'm doing finance policy -- it's an enormous amount of practical knowledge and would serve me extremely well in some kind of career that I'm sure I'd enjoy well enough, but I know that I would forever regret not doing something a lot more rigorous.

Anyway, given that I have such a late start on econ, I don't really have much of a record in it so far. What I do have a record in is (undergrad) math -- multivariable, linear algebra, modern algebra, discrete, differential equations. Unfortunately the record is Kind Of Bad (B's and down) though it's more that I was an unfocused student as an undergrad than that I can't do math (800Q GRE, 720V). I'm A/A- in econ classes in this program.

I'll finish this masters degree in Spring 2009, and I had been planning on waiting until Fall '09 to apply to programs, so I could build a stronger case for myself. Fortunately, I can take classes in the (top-10) PhD program at my school, and I was planning on taking the micro and econometrics sequences next year, plus real analysis. I spoke to a friend in the econ department (in his 2nd year, we went to undergrad together) and he suggested trying to RA for a professor in the department, so I'll look into that. Also, there's a good chance that I'll TA a class in my program next year - micro/macro or monetary theory (won't hear definitively until the end of the month). With all of that in place, assuming that I do well, I imagine that I would be a reasonably strong candidate.

However, the more I think about it, the less sense it makes to "burn" a year, in effect, when I know what I want to do already -- starting a job that I'll know I want to leave in a year seems pretty stupid. So I'm thinking that I should apply in Fall '08, which leads me to my two (2) branches of questions:

1. I'm confident that I'll do well in any classes that I take -- the main question is, which ones? How big of a deal will it be that I've taken micro & econometrics? What math class(es) should I take over the summer? Just real analysis, or real analysis +_______?

2. Would my application be Significantly Improved by waiting a year to apply, or would good (excellent) grades in the classes I've mentioned be enough? Relatedly, how are reapplications treated? Does an admissions committee basically put a spam filter on your name, or will they give real consideration to your (improved) application a year later?

Any other suggestions or advice would be more than welcome.

[pevdoki1]

I think you should apply next fall but spend the year taking math classes (analysis and statistics) and also some economics ones. If you don't get into your target schools this admissions cycle, you can apply in Fall 2009 with a much stronger profile.

Finally, a year is only wasted if you don't do anything. I don't know if you can take real analysis as a summer course somewhere, but I would suggest signing up for a year long sequence instead. It will really help you during your PhD years; I'm sure of that (there is a reason schools like to see it, and you can fax your grade to them in December)

[regisseur]

I can take real analysis I as a summer class - meets 4x a week (1.5 hours each time) for 6 weeks. It'd be accelerated, but I imagine it'd give good coverage. Real analysis II is offered for another six weeks, and maybe I'd do that too. The problem with just taking math/stats during the year is that I'm in a program that has requirements, so I'm limited with my "electives"

[asianeconomist]

Originally Posted by regisseur

I've really, really liked the micro & macro classes, and decided that I'd like to apply to PhD econ programs.

I was wondering that whether adcoms would find this motivation strong/convincing enough ? For instance, they might conclude "this guy has only done rudimentary stuff in economics and for that he concludes that he wants to pursue graduate education. Does he really know what he is getting into....".

Only a niggling doubt. Feel free to ignore it.

[regisseur]

Clearly I wouldn't write "I took two classes and really, really like econ" in any kind of statement of purpose. I've taken a bunch of other classes - monetary theory, capital markets, economics of finance. They're all taught from a policy perspective, for practitioners, and the "this is how it works" way the material is approached raises more questions for me than it answers. Plus, I plan on taking micro and econometrics from the 1st year PhD sequence, so I think I'd get a reasonable idea of what I'm getting into from those classes.

[ForTheWin!_08]

Originally Posted by pevdoki1

I don't know if you can take real analysis as a summer course somewhere, but I would suggest signing up for a year long sequence instead.

I agree, though perhaps not for the same reasons as pevdoki1.

I appreciate that you want to hurry up with the PhD, and that you are likely very clever, but I don't know if trying to squish a dense, abstract subject like analysis into six weeks is wise. Sometimes one actually needs time to mull over the new concepts and the new way of thinking.

[savingtheplanet]

I havent read other people's responses -- but I can safely say that taking the micro+metics phd sequnce is very very useful. form not having much of a background in economics or math, taking analysis, and the micr+metrics sequnece at a top-15 school got me into a number of top-5 programs. Doing well at PhD courses is one of the strongest signals you can send, specially if it is at a good school. (plus, you can then get letters from the professors there). The downside is that if you dont do quite well at the phd courses (e.g. anything below an A-) it will probably make it impossible to get in to a top-10 school.