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Lin Alessandro
11-14-2014, 12:30 AM
Hello everybody,

time is running out for everyone who wish to start phd in fall 2015.
I have a question to be addressed. I'd appreciate replies from both seniors and applicants.

First, what are the pros/cons of going for PhD in Econ Department rather than in business school (such as stern, wharton, hbs...)? I have been looking around for while and some b-schools have doctoral student whose research area are applied micro, game theory, ind organiz, development econ, public econ...(this is really confusing me)*

which category is more worthy in terms of future salary?

Probability to be admitted in SOM/b-sch compared to Econ dep?

How ow to choose b2n the 2?

*course requirement are very similar to phd from Econ dep

Econhead
11-14-2014, 12:51 AM
Traditionally, it is considered more difficult to get a placement in an econ department when you earn a degree from a business department, even when it is something like "business econ" that is just housed in the econ department, your professors are econ professors, and essentially you are still completing the same work and earning a comparable degree. If you want to be an Econ professor, it is generally suggested that you pursue an "actual econ degree."

Many business schools (Kelley at Indiana University is an example) houses a lot of econ professors, and offers a similar degree ("Business econ"). They have more micro theory and game theory professors than the actual econ department. Business schools often have better funding. Generally (always?) you are able to work with professors from both departments, regardless of which program you attend. If you are a strong candidate with good research (and you have 1 or more professors that place well), it's my understanding that your placement is not likely to differ substantially. Thus, for the average student it does not seem to be recommended. My advisor advised me to apply to IU's Business Econ program, and also the Duke program.

I asked this question last year (with regard to the managerial degree from RADY's new program, and this was (more or less) the advice I was given.

Note: Very well known programs, like those you mentioned (HBS, stanford GSB, Wharton, NYU Stern, etc.) don't fall into this mold (I don't think), and these comments are directed at lower-ranked programs. I don't know about those programs, other than that they are ammazing, as are their placements, and I am not commenting on them in general.