How do you know if a PhD is the right thing for you ...

[israelecon]

Originally Posted by thescienceboy

I don't think that accounting is creative, so your comparison is not fair. Doing routine work and doing research is not the same. I do agree about intellectual curiosity, but the profs that we admire always have it in the same bundle with passion for what they do. Seriously, I've never seen a tenured prof who wouldn't be a big "fan" of his job. I won't believe that someone can become a good researcher not been entirely into it. Maybe, you just have different criteria for good/mediocre/bad than I do.

my father is a tenured professor and he is decent enough (he has 7 publications in AER (and non of them are co-authored), i think we can agree that that is not bad), but he is definitely not passionate about economics. he enjoys the intellectual challenge, but i think he is much more fascinated by say, general relativity theory. he got his phd because the government from the country he was from offered him a fellowship to do a phd in the US, he didn't know what he was getting into, and then by inertia he got an academic job and continued in this way because he didn't want a private sector business type job. so yes, i am sure he enjoys it more than he would, say accounting, but its not like he thinks his work has any influence on anybody (other than his own bank account), and he is definitely not passionate about it.

[representative_agent]

Originally Posted by israelecon

in order to do research i don't think it is passion that you need, it is more intellectual curiosity

Yep, curiosity is the word! I am not exactly passionate about economics, but I think that economists ask very interesting and important questions. To most of those questions we haven't really found convincing answers yet. But I am curious enough to keep thinking about them. Even better if I get paid for it...

I also think that too much passion is not always good for an intelectual debate. At the Chicago flyout the department prided itself in their attitude that "economics is life". Sure, they are one of the most vibrant departments. But how do you want to have an objective discussion about something you are so emotional about? Several people there told me that this "passion about economics" makes the atmosphere in seminars quite aggressive.

Last not least I've observed that economists who have an interest (and passion) in a field outside economics have a much better sense of humor...

[needeconhelp]

I think academia is a great career. You get to choose your own schedule. You are not stuck with 9-5 job. you can take summer off or just do research as you like. You are thinking about some useful topics which interest you. Moreover, if you like teaching, you are enlightening some mature students hopefully(compared to K-12 teaching). Academia does give you the option of spending more time to spend with your family or at least how you want to do it.

Frankly, I think the money is not that bad.

My far-distant vision: I would like to start my own business once I am tenured. Do you hear of any faculty do it?