melkisedek

Econ PhD programs are designed to produce academics. But that doesn't mean only those who prefer academic jobs to IMF-like positions shoud do an econ PhD. There are many positions in those institutions which are nearly always filled by econ PhDs. If you really want that positions then it perfectly makes sense to do an econ PhD. On the other hand, anyone interested in institution positions should understand that whatever "real" world problems you want to deal with, you can do that in academy too. On the other hand, in IMF for example, your research agenda will be restricted one way or another by those who decide what kind of problems are "real".

Type of Undergrad: Top University from Turkey Major: B.A. in Economics Undergrad GPA: 3.68/4 Type of Grad: M.A (at the same university) Grad GPA: 3.84/4 (first in class) Math Courses: Calc I-II, Linear Algebra A, Differential Eqn A, Mathematical Analysis B+, Real Analysis (Undergrad) C, Real Analysis (Grad) A, Econ Courses (Undergrad): Micro, Macro, Monetary, Advanced Macroeconmics Econ Courses (Grad): Micro I A-, II A-, Macro I A, II A, Econometrics I A II B+, Game Theory A, Mathematical Economics A GRE: 170 Q, 162 V, 3,5 AW Letters of Recommendation: 3 all from the Master Prog: One of them is very well known in the field Research Experience: MA Thesis in Social Choice, working paper on financial networks presented in an international workshop Teaching Experience: Application to Graph Theory TA, some tutoring Concerns: Low GRE (AW), horrible toefl speaking score( 19 yet my overall score is 105 ), graduated from MA in 2013 Research Focus: Networks, Theory Other: Currently working on Central Bank in international econ analysis division as a junior analyst. Applying to: UPenn, Brown, Caltech SS, Michigan Ann Arbor, Northwestern, NYU, Carnegie, Duke, Rochester, Maryland, Princeton, Stanford GSB, MIT, Columbia RESULTS: Acceptances: CMU ($$$), Rochester ($$), Maryland (?) Waitlists: Duke ( As of Apr 16th, I am still in wl) Rejections: UPenn, Brown, Caltech SS, Michigan Ann Arbor, Northwestern, NYU, Princeton, Stanford GSB, MIT, Columbia Attending: CMU Comments: This was a very though process and I am really happy that it ended. Especially waiting for Duke was really annoying since without an actual offer, it gets a little bit hard to compare schools. Given that I was really irresolute between Duke and CMU, at some point I gave up waiting for an offer from Duke and accepted CMU's offer. Duke haven't sent anything yet anyway.. What would you have done differently? Well to begin with, I would have taken more courses during my UG and try an European Masters program with better placement record. Other than that, given my existing profile I can see why I didn't crack top10, so maybe I should have applied more schools in top10-20. But given my research interests, CMU is a very good fit in this range, so no regrets...

Well by theory of course I mean micro theory, and for micro theory CMU looks solid, for IO it looks really good. Duke also looks good in micro theory and IO, but they also have a great faculty in applied microeconomics which means their faculty is large enough that if I want to switch more applied stuff some point, I will have more options in Duke. CMU is a place which encourages research very early on and almost never weed out students. On the other hand Duke is by no means Chicago or Penn but in principle follow the classical though love approach which might produce the better phd candidate. Both have its own advantages and disadvantages and it is really a choice of taste. I don't think one can say, at least in the domain of microeconomics, one is significantly better than the other. And that's what makes this choice a little bit harder..

I really don't get that. I mean if you don't put an applicant to a waitlist then reject and spare the drama. What is the point of this limbo? Anyways, I hope it turns out well for you.

Are you guys waitlisted or didn't get anything at all?

Looking at the placement record, Duke seems to produce 10+ jmc's in the last few years. So the cohort is not that small, isn't is?

Well with outside funding, LSE masters are not that though to crack. I know several people going there with very weak profiles just because they have outside funding. LSE offers a variety of Master programs with large cohort sizes. So I don't believe it is that hard. OP doesn't need to be the best in LSE but should do realy good, at least top %20 of his/her cohort to secure a place in t25 in US. So the chances is not that high, but it is good enough to get the risk. But of course, OP should really assess his/her capabilities before taking that risk. And in case of failure, a master in LSE may open other doors, so there's that.

About the cost of living in London, you are right. There are other good programs in Europe, CEMFI for example. The thing with LSE is that if you bring a governmental scholarship as an International student, it is reallt not that hard to get into. I know many people with probably worse profiles get accepted from LSE because they found outside funding. I am still against wasting your funding in some US Master program, your phd offers seems good so it would be wise to wait for funding. If you don't get funding and really don't want to wait another year than just send a message to Tuffts now explaining your situation, your phd offers and ask them if it is possible to get an extension. As it is a MA program, they might be more flexible than you think.

Yeah, but to get a similar sample size you need to go back 10 years, that's why I kinda decided to not to rely on placements that much.

What is the lehgth of the program in Tuffts? It seems they offer a one year and a two year program. If it is one year program, don't even bother, it will not really improve your profile for next year. If it is the two year program, then it may improve you profile for 2017 cycle. But I would really get information about their PhD placements. I really don't know much about MA programs, but it seems that Canadian/European MA programs are better than US MA programs with respect to PhD placements. I would reccomend to use your funding oppurtunity for a Master in a European Program, say LSE which is not that out of reach if you tell them you will get a scholarship from your government. So, if you are happy with your existing PhD offers wait for the funding results, if they don't offer funding eventually then consider a European Master for the next cycle. You will have to wait one more year but if you do good in LSE your chances for top25 will improve greatly. On the other hand I really doubt that even the best student from Tuftts could make in to top25.

To make the case for ND, their median placement seems a little better in last 3 years, but the best of ASU is way better than the best of ND. Anyways, I would choose ASU since neither placement nor faculty of ND is clearly better than ASU and location/funding is significantly better for ASU. That plus the signal you get from rankings I think I would go to ASU.

The problem with CMU is that its class size is so small that it is really hard to assess their placement record. Yet it seems that their placement is not as good as it as say 5 years ago. Also CMU have a smaller faculty which is a problem if I want to really change my mind. But I think the faculty of CMU seems a little strınger for theory and IO. Yeah, it will be a though desicion..

Let's have another vs thread: I want to do theory and maybe IO, which one would you reccomend? By the way I also have Maryland and Rochester but I will not probably going these places because Maryland is not that good in theory compared to others (except maybe if you really want to do auctions which doesn't interest me that much) and Rochester have no IO and I really wannna go to a place with at least some degree of diversification. Thanks in advance

How about sending an email listing existing offers and showing some enthusiasm for an offer? I am waitlisted for Duke and certainly don't want to wait till 15th to decide.

Institution: Duke Program: Economics PhD Decision: Waitlisted Funding: Notification Date: 3/18/15 Notified Through: Email Posted on GC: Yes Comments: Waitlists are just complicating the situation Institution: Maryland Program: Economics PhD Decision: Admitted Funding: No funding for now Notification Date: 3/18/15 Notified Through: Email Posted on GC: Yes Comments: Off the waitlist.