butler blue

I use STATA for all of my work, and I agree with wdoerner. Don't get anything smaller than IC. I got an IC perpetual license, and it gets the job done most of the time, but it's limits are binding sometimes. Usually, as wdoerner said above, it happens if you're doing work with lots of fixed effects, group-specific time trends, etc. The number of variables can rise pretty fast. Buying SE may be worth it if you're confident you're going to be doing this type of applied micro work with big datasets. But that won't come until you're doing your own research.

Georgetown definitely has more faculty on the Keynesian side, but here they leave that for the second year field classes. Our first year macro was largely built around the neoclassical model, though when we did growth first semester, we also did a bunch of endogenous growth theories.

I did. I mean, it's very difficult, but there are a lot harder paths in life out there. The weeks of midterms and finals are really tiring, and if you're in a program where the GPA requirement is a binding constraint (which includes G-Town), then that can be really nerve-wracking for people on the edge. I'm sure comps will be crazy (ours aren't until August). But like Karina said above, you build some good comraderie in the fire, and my experience of it has been very similar to what I expected (thanks to the kind people on this board). And when it comes down to it, the worst that can really happen is that you fail, leave with a masters degree, and go work for your government or a consulting firm. It sucks, I'm sure, to be forced out, and I can attest it's not fun to see some of your classmates leave your program either voluntarily or involuntarily. But I can think of a great many worse fates. Now that I'm off that soapbox, here's my summary of semester 2 at Georgetown: Micro - Very theory/proof oriented lectures. Lots of existence theorems and such; more so than first semester. We spent about half the semester finishing up game theory, most of which was doing dynamic games in greater detail than MWG and then some auction theory. The second half was GE, mostly focusing on existence and the welfare theorems. Exams, on the other hand, were much more computational/problem-solving than the class. Nobody really minded the disconnect, though, because they were a whole lot easier than the lecture material. Macro - Second semester we switched to discrete time mostly using dynamic programming methods. Added in some programming in MATLAB or GAUSS this semester. The last half or so of the semester was macro general equilibrium. The class was focused on the tools (math) but along the way topics covered included the neoclassical growth model/Real business cycles, labor-search models, and asset pricing. We used both Stokey-Lucas and Ljungqvist-Sargent a bit, but most of the class was from the profs notes, which were very good. Metrics - After doing stats first semester, we switched to actual econometrics following Greene's book. We covered the standard OLS model and the extensions arising from violations of its assumptions (GLS, IV non-linear LS, etc.). Then we finished off with some discrete choice models and semi-parametric stuff. The class basically ended up working out that we taught ourselves the basics out of the book (which, thankfully, is pretty good) and he quizzed us orally rather frequently to make sure we knew it. Then he spent his teaching time giving guidance about intuition and how to use the various tools rather than going over the technical stuff. Some people really liked this style, others really didn't. I guess it just depends on the person.

Programming is definitely more useful for doing a Ph.D. than combinatorics or abstract algebra. Well...if you want to develop your general proof-writing ability and such, the math classes might expand that part of your mind, but programming is definitely more directly applicable, even if it isn't in a language that eocn uses. I've been very appreciative that the math dept in undergrad made me take C++. It made second semester macro and metrics a lot easier because we did a lot of Gauss and MATLAB, which are very similar to C++. I don't think any of these will have much impact on your academic admission prospects, though.

This is good advice. Georgetown would be a good fit for you if the classes were at night, but most of our classes are day classes.

I'll give my best shot at answering these. As for stress, clearly that varies from person to person. I'm probably less stressed than average. But overall, I think the average stress level is reasonable. It gets heavy during midterms and finals, since grades are linked to funding (for those who aren't originally offered funding) and to "satisfactory progress," but on the whole, people aren't going crazy or anything. People still have time to go to the gym, spend time with spouses, etc. It's intense but not all-consuming. I have more spare time than I thought I would. Oh, I should say though that stress varies with funding. I think this is pretty generally true for all schools (I could be wrong), but the unfunded students are generally more stressed, since they're trying to use their grades to look good for the dept. As for comps, yes, I think Georgetown has a bit higher attrition than some other places. However, I'm convinced that this is not the department's goal. Throughout the first year, our profs have been very supportive and always spoken with an eye toward helping us know what we need to know to pass the comps. I think the department just sets an absolute standard and passes the people that they think meet that standard. From year to year the pass rate varies. The third year class is quite small now, but there are more second years. Ultimately, I don't think the situation at Georgetown is much different than the vast majority of programs.

This is true. Where I would stay would depend on what airport I was coming in to. If you're going to Reagan-National, then something in the arlington or crystal city area (or further down the blue or yellow lines). If Dulles, then something by the airport or maybe Falls Church area (there's a bus that goes from one of the Falls Church metro stations straight to Dulles). Basically, the further you get from the city the better. So the best bet is probably something on a metro line (so that you can get to G-town easily), in the direction of your airport.

Yeah, I have no idea what that means. If you can't figure out what it means, I would e-mail whoever sent it for clarification. From the little snippet you gave, it sounds intentionally vague, like you're probably admitted but they're just covering their bases in case everyone from their first list accepts. That's just a guess though. Anyway, I've received questions about Georgetown, so I'll just post answers here: "What are the chances of getting funding if I received the waitlist?" Your guess is as good as mine. The number of first year fellowships is basically fixed (as it is at basically every school), so it all depends on what people ahead of you do. Things trickle down over time. I know, it sucks. "What can I do to maximize my chance of getting funding?" Nothing is certain. But I would say a couple pieces of generic advice, not necessarily G-town specific. First, if you are truly serious about going to a particular school, i.e. it's pretty high on your list, let them know that (of course in a tactful way). This may not help, but it definitely can't hurt. Then they know that they won't be sitting around waiting on you til the last moment. Second, come to the open house. I honestly don't know if we do this, but I know some schools use the open house to decide on their later funding decisions. Last year, it was pretty obvious that UVA was doing this. Going to the open house both shows interest and gives an opportunity to make a good impression. "How does funding in the second year (and beyond) work if I don't get it in the first year?" This is a really good question that you should get an answer to at any school you are considering (at which you aren't offered first-year funding) because it varies from school to school. At Georgetown, first priority goes to those with guaranteed funding (those who had fellowships in the first year). After that, first year performance in terms of GPA (and maybe also comps...don't know) is the main factor. The official line is that funding is "generally secure" with a GPA of 3.5. Given that a 3.33 is required to continue the program, my understanding is that most people who pass comps meet this. If this becomes an urgent question, make sure you ask an upper-year student at the open house. They would be more able to give you probabilities.

I'm enjoying it. I mean, it is the first year, so no matter where you are it's going to look pretty similar. I spend a lot of time with my friends Mas-Collel, Stokey, Ljungvist, and Greene. =) Biggest plusses so far are that the first year classes are well taught, and our first year class gets along well. If anyone starts having more specific questions, feel free to ask them. I can't promise to be able to answer everything (I'm still only a first year...my knowledge of the department only goes so far). If I don't respond at all, send me a PM, I don't check TM very often anymore (especially since midterms are upon us...). Best of luck to everyone.

This is largely true. One slight correction, though, is that Georgetown doesn't give TAships to first years anymore. It's fellowship or unfunded (assuming we're keeping the system they started last year). In any case, one of the current first years didn't find out until April last time around, so I wouldn't go off losing hope of getting in.

For Georgetown, we do have a development field and two profs, Garance Genicot and Billy Jack, both of whom are micro people. If you're interested, you should check their websites. Genicot is much more theory than applied (compared to say Udry) publishes in JET and that sort of thing. Jack has done a lot with health economics in the past. We don't have anyone doing randomized experiments, though, (at least in the econ dept) if that's what you're interested in.

Everyone should read asquare's list of recommended questions at the beginning of this. I asked a number of them while visiting and I should have asked more of them. That said, I would add one. The most useful question I found was the most general one I could think of: What is the best thing about this department and what is the worst? It pins grad students down on evaluating their own department, which is what you really want.

True, but anybody who's sitting on pins and needles waiting for e-mails in January is going to disappointed. If history serves any notice, the only people who will hear anything before March are Minnesota's top admits in January (I think they had some early deadline for a university fellowship) and some people for UVA in February. I know it's hard to ignore it, but really, all of you should (not that I could take this advice when it was given to me last year). Your time would be much better spent reading some solid papers in fields you're interested or maybe some economists' blogs to get a feel for what the current debates are. Those things would serve you much better when it comes time to choose which school to attend.

To answer the "when" question, after the job market clears. Everyone's knee deep in interviewing right now. Sorry guys, but it'll be a bit before anybody starts looking at applications.