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Tragically Hip
02-07-2008, 02:44 AM
I am hoping to get some feedback as to what business schools are perceived by others as being good options to pursue studies in I/O (be it top-ranked, middle-ranked or lower-ranked). I have a good sense of which Econ departments are notable, but less so for business schools.

fp3690
02-07-2008, 02:52 AM
Apparently the best one is Kellogg's MEDS

Golden Rule
02-07-2008, 03:10 AM
I would strongly disagree that Northwestern MEDS is clearly the best, certainly a good choice. As usual, look at placements, look at current job market candidates, who they're working with, what they're doing.

For placements, here is Kellogg's list (http://www.kellogg.northwestern.edu/meds/doctoral/mecs_placement.htm): okay for a top 10 school, but clearly not "the best." I think the Northwestern econ dept. as a whole has a better reputation for IO. I'd say Stanford GSB (http://www.gsb.stanford.edu/phd/fields/econ/placements.html)or Harvard Business Economics (http://www.hbs.edu/doctoral/placement/recent.html#be)are better choices. Stanford of course has produced the likes of Athey and Milgrom over the years. Harvard has one IO job market candidate who got to work with Pakes, Roth, and Athey and has a couple theory papers and one empirical job market paper. I don't think you can get much better advising than that.

YoungEconomist
02-07-2008, 03:15 AM
I would strongly disagree that Northwestern MEDS is clearly the best, certainly a good choice. As usual, look at placements, look at current job market candidates, who they're working with, what they're doing.

For placements, here is Kellogg's list (http://www.kellogg.northwestern.edu/meds/doctoral/mecs_placement.htm): okay for a top 10 school, but clearly not "the best." I think the Northwestern econ dept. as a whole has a better reputation for IO. I'd say Stanford GSB (http://www.gsb.stanford.edu/phd/fields/econ/placements.html)or Harvard Business Economics (http://www.hbs.edu/doctoral/placement/recent.html#be)are better choices. Stanford of course has produced the likes of Athey and Milgrom over the years. Harvard has one IO job market candidate who got to work with Pakes, Roth, and Athey and has a couple theory papers and one empirical job market paper. I don't think you can get much better advising than that.

Any solid business schools for IO that aren't so difficult to get admitted to as Harvard, Northwestern, Stanford, etc?

Golden Rule
02-07-2008, 03:25 AM
Any solid business schools for IO that aren't so difficult to get admitted to as Harvard, Northwestern, Stanford, etc?
I mean, the ones I've mentioned are small, leading to high quality of students, and top academic placements. I'd say other programs are not as selective and tend to send more to the private sector. Wish I could give a better answer, but I don't have a good sense of how to rank programs based on private sector placements.

YoungEconomist
02-07-2008, 03:34 AM
I mean, the ones I've mentioned are small, leading to high quality of students, and top academic placements. I'd say other programs are not as selective and tend to send more to the private sector. Wish I could give a better answer, but I don't have a good sense of how to rank programs based on private sector placements.

I just meant which schools are easier or more realistic to get into?

asianeconomist
02-07-2008, 03:49 AM
University of Tolouse

jazzcon
02-07-2008, 04:41 AM
Generally Finance programs have three main fields, Asset Pricing, Corporate Finance and Market Microstructure. IO is kind of a boutique subfield of Corporate Finance when it comes to Finance Departments because it is more of an Econ field. It seems to me that most finance departments will not spend money hiring people strictly in IO because it doesn't really fit with the three main fields where they would like to spend their resources. The exceptions are the top programs (Stanford, Harvard, Wharton etc) who hire in all different fields from Political Theory to Macro. If I were the OP I would instead look for lesser ranked schools who are strong in corporate finance. Off the top of my head I can think of WashU (which has IO people for sure) and UIUC. These are not shabby schools by any means though.

As far as job prospects, it is better to be on the B-School job market than on the Econ department job market. There is a much better chance you will join a program that is similarly ranked to your PhD, or even higher ranked.

econphilomath
02-07-2008, 01:28 PM
As far as job prospects, it is better to be on the B-School job market than on the Econ department job market. There is a much better chance you will join a program that is similarly ranked to your PhD, or even higher ranked.

Correct me if I am wrong, but it seems to me that as an Econ PhD you can still participate in the GSB job market, but as a GSB candidate, its really hard to get in an Econ dept.

jazzcon
02-07-2008, 01:56 PM
Correct me if I am wrong, but it seems to me that as an Econ PhD you can still participate in the GSB job market, but as a GSB candidate, its really hard to get in an Econ dept.

I would say that is generally true. Specializing in Financial Economics, Time Series Econometrics, IO or a couple other fields in an Econ department could put you on the GSB job market (assuming you've done good enough work to be on the top academic job market anyway) . It can also put you on the private sector finance market (which is quite lucrative).

There are some GSB candidates that would be good econ fits, but only coming from the top schools where they can specialize in more Econ like fields. Also GSBs do pay more, so I am not sure how the establishment views an Econ placement coming out of a GSB.

Golden Rule
02-07-2008, 02:06 PM
There are some GSB candidates that would be good econ fits, but only coming from the top schools where they can specialize in more Econ like fields. Also GSBs do pay more, so I am not sure how the establishment views an Econ placement coming out of a GSB.
So one factor for various programs is how much of the Econ core gets completed. At Harvard business economics, you take the exact same first-year core as the grad students. At Columbia, they do the same micro/macro but do their own econometrics which is of comparable difficulty. For such programs, there's no real difference between a GSB grad and a pure econ department grad, I'd say. And program's like Harvard's and Stanford's are probably even more prestigious since they're so selective.

And of course what ultimately matters is the quality of your job market paper and your advisors, not where you come from (though certainly where you come from will affect the quality of your advisors and your research).

YoungEconomist
02-07-2008, 04:11 PM
If I were the OP I would instead look for lesser ranked schools who are strong in corporate finance. Off the top of my head I can think of WashU (which has IO people for sure) and UIUC. These are not shabby schools by any means though.

For clarification, are you referring to WashU and UIUC business school or econ program?

jazzcon
02-07-2008, 04:23 PM
Sorry, I am referring to their business programs.

And I mean WUStl.