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Why come to UK?
We are proud of our Ph.D. program and the success of our graduates of the program. As you can see from our placements, our students have gone from our programs into a well-respected institutions in academics, government and, occasionally, the private sector.
While we are a small graduate program, we think that offers a number of advantages to our graduate students. First and foremost is the attention our faculty pays to our graduate students. Graduate student offices are in the same suite as the faculty, graduate students attend the same workshops, and work, in a number of ways, with faculty. We have had a long history of joint research between faculty and graduate students and expect that to continue. The size of our program also encourages a great deal of interaction among the students themselves.
We believe another selling point of our program is the interest of the faculty in applied research and policy analysis. As can be seen in Faculty Publications, we have an active environment for research in applied issues and policy that should be particularly attractive to those students interested in these issues.
Admissions Process
What forms and materials are necessary to apply for admission to the Ph.D. or MS program in economics?
Graduate School Materials Required
Applicants apply to the Graduate School at the University of Kentucky. The Graduate School accepts online applications or paper applications. The Graduate School also requires two copies of the transcripts from any post-secondary institution you have attended. These should be sent directly from the institution. The Graduate School also requires a GRE score; the institutional code is R1837. For applicants whose native language is not English, a TOEFL score directly from the testing service must also be submitted. Finally an application fee of $40.00 for domestic students and $55.00 for international students is required as well. For more information go to Application Information.
Department of Economics Materials Required for Application
In addition to the materials required by the Graduate School, the Department of Economics also requires:
- A resume
- A one-to-two page personal essay about why you want to attend graduate school in economics
- Two or three confidential letters of recommendation
It is also helpful if students provide the department copies of transcripts, GRE and TOEFL scores (official or unofficial) directly to quicken the application process. Letters of recommendation can be sent directly from the recommenders. If sent within an application packet from the applicant they should be in a separate sealed envelope with the signature of the recommender over the sealed flap. There is no form for letters of recommendation. Materials should be sent to the Director of Graduate Studies:
Director of Graduate Studies
William H. Hoyt
Gatton Endowed Professor of Economics and Director of Graduate Studies
Department of Economics
Gatton College of Business and Economics
University of Kentucky
Lexington, KY 40506
whoyt@uky.edu
Can I visit the department before making any decisions about whether to attend or not?
Certainly, we are happy to schedule a visit either before or after you apply or are admitted into the program. If you contact the Director of Graduate Studies, William Hoyt (whoyt@uky.edu ), he will be happy to arrange a schedule for your visit. We generally try to arrange a visit in which you can sit in on a class, have some visits with faculty in their office, and talk, and perhaps have lunch, with our graduate students.
How do I find out about the status of my application and if my materials have been received?
For materials sent to the Graduate School, you can find out about the status of your application at Check Application Status. The Director of Graduate Studies does not have information about the status of application materials.
For materials sent to the Department of Economics, contact Su Troske (s.troske@uky.edu).
Are there forms to be used when writing recommendation letters?
No. There are no forms. However, it is preferable that letter writers use a letterhead indicating their place of employment.
What are the deadlines for applying for admission? What is the deadline for being considered for financial aid?
The Graduate School states that “… [f]or domestic students, applications must be submitted no later than one month prior to the start of the term the applicant intends to begin graduate work. All application materials (including all transcripts and official scores) must be received by this deadline.”
Domestic students who wish to be considered for financial assistance should note the earlier deadline, February 1, for financial aid decisions. For international students, applications for admission must be received by the Graduate School by for February 1.
While the Graduate School has February 1 as a deadline for financial aid for the fall semester, we encourage you to submit your application early if at all possible as the Graduate School is sometime quite slow in processing materials.
Does the Department accept applications for spring admission?
Very Rarely. Our program is designed to begin in the fall semester with almost all of our spring courses having prerequisites offered only during the fall. Unless you have been in an economics Ph.D. program at another school, you are strongly encouraged to apply in the fall.
When do students begin the program?
We strongly encourage incoming students to take our Math Camp. This generally begins during the second full week of August. In addition to this course, the Graduate School has a number of orientation sessions prior to the start of classes which generally start between the 15th and 20th of August. In addition to orientation sessions from the Graduate School, the department will host a number of events for incoming graduate students providing an opportunity for them to meet current graduate students and faculty.
Are there minimum GRE scores and grade point averages for admission?
The Graduate School sets the following as minimum requirements for admission:
- Overall undergraduate GPA of 2.75
- Overall graduate GPA (if relevant) of 3.0
- Combined verbal and quantitative GRE scores of 1000.
- For international applicants for whom English is not a native language the minimum TOEFL score is 550 (paper-based) 213 (computer-based) or 79 (internet-based). The minimum IELTS score is 6.
While these are minimum requirements set by the Graduate School, meeting these requirements does not guarantee acceptance into the MS or Ph.D. program in economics at UK. Information about the GRE scores and grade-point averages of both admitted and attending students from recent years is available at Admissions Information.
How many GRE scores will you accept?
We do not have a rule about the number of times you may take the GRE. We generally will consider all GRE scores though not necessarily weighted equally.
Is there a mathematics requirement?
We do not have a formal requirement regarding the amount of mathematics taken prior to attending the program. However, the extent of your mathematics background will influence our decisions regarding both admittance and financial aid. Students are urged to have a strong background in mathematics with several semesters of calculus desirable as well as a course in linear algebra.
Is there an economics requirement?
No, there is no requirement. However, our experiences suggest exposure to economics as an undergraduate increases the likelihood of success in our program. We strongly urge candidates to have at least taken intermediate level courses in microeconomic and macroeconomics.
When will I receive notification of a decision on my application?
We try to make our initial decisions in late February and no later than March 1st. However, because we have limited TA and RA positions and wish to ensure that our entering class is not too large, we tend to make only a few offers initially. As we get a better indication of the number of students likely to accept our offers, we make additional offers. Generally we complete all admission decisions by early May.
Financial Aid
Is there a separate application for financial aid?
No. All applications for admission are considered for financial aid without any additional information required or forms which need to be filled out.
What are the deadlines for applying for admission? What is the deadline for being considered for financial aid?
The Graduate School states that “… [f]or domestic students, applications must be submitted no later than one month prior to the start of the term the applicant intends to begin graduate work. All application materials (including all transcripts and official scores) must be received by this deadline.”
Domestic students who wish to be considered for financial assistance should note the earlier deadline, February 1, for financial aid decisions. For international students, applications for admission must be received by the Graduate School by for February 1.
While the Graduate School has February 1 as a deadline for financial aid for the fall semester, we encourage you to submit your application early if at all possible as the Graduate School is sometimes quite slow in processing materials.
How many students typically enter the program each year? How many are funded?
Generally six to ten students enter our program each year with five to seven of these students receiving funding. For more details go to Admission Information.
What is the form of funding for most Ph.D. graduate students?
The majority of support for doctoral students in the Economics Department comes from teaching assistantships (TAs). In a typical year, five to seven incoming students are awarded teaching assistantships that cover tuition and fees, including the student health insurance fee. In addition, a stipend of between $11,600 and $12,700 is paid to cover living expenses. In return, the student provides 15 hours per week of instructional assistance to the department. In addition, the department is able to provide small scholarships for particularly promising candidates.
A number of students also work as research assistants (RA), many for our Center for Business and Economic Research (CBER) and the UK Poverty Research Center. In addition, there are competitive fellowships from the Graduate School for which we nominate applicants and they occasionally receive. In addition, we frequently supplement TA or RA positions with partial scholarships.
The department’s Graduate Studies Committee awards financial aid on a competitive basis. The committee begins evaluating applications in early February. Therefore, to be considered for financial aid, the Graduate Studies Committee must have all application materials by February 1.
MS students receive no funding from the Department.
How long does Ph. D. student funding last?
Students who have made satisfactory progress throughout the program will receive four years of funding; fifth year funding is not guaranteed though we have been able to offer it for students demonstrating progress on their dissertation.
If I were to receive an offer of a TA or RA, how long do I have to decide on whether to accept it?
For offers made by March 1st you have until April 15th to decide whether to accept the offer or not. If you do not receive an offer until April or after April 15th, we generally give you one or two weeks in which to decide whether to accept.
If I do not receive funding initially, is there a possibility of receiving funding later?
Yes. When we have applicants turn down funding offers, we frequently make additional offers to applicants who may have already been admitted but not offered funding. In addition, we have often been able to make funding offers to students who have entered the program without funding after their first or second year if they have been making satisfactory progress.
In addition to being funded as a teaching assistant is there other employment or funding available for graduate students in economics?
Yes, while the majority of our funding is through teaching assistantships, we have some research assistant opportunities. A number of students work as research assistants (RA), many for our Center for Business and Economic Research (CBER) and the UK Poverty Research Center. In addition, there are competitive fellowships from the Graduate School for which we nominate applicants and they occasionally receive. In addition, we frequently supplement TA or RA positions with partial scholarships.
In addition, the department offers one fellowship annually, the Kentucky Opportunity Fellowship (KOF) to one of our graduate students. The Graduate School also offers competitive fellowship and scholarship opportunities as well (See Fellowship Opportunities.)
Placements, Research Opportunities, and Dissertations for Ph.D. Students
Where do students get jobs after completing the program?
While the vast majority of students, both domestic and international, obtain jobs in North America we have occasionally placed students in other countries as well. And while most of our students place into academic positions, a number of them obtain positions in federal government agencies, generally in Washington, and occasionally in state agencies as well. A few have placed into private consulting firms as well. See the list of student placements.
What are the fields and topics on which students in the program write dissertations?
We offer six fields in our Ph.D. program: labor, public, industrial organization, international, monetary and environmental/health. Recent students have written students in all of these fields. For a sample see the dissertation abstracts of current graduate students.
How does the department assist students in seeking placement?
We assist students seeking placement in a number of ways. First, the DGS meets with students seeking employment both individually and as a group nearly a year in advance of their initial interviews. Students are encouraged and offered financial support to present their dissertation research at regional conferences as well as venues in our department. Students are given “mock” interviews with faculty and practice the presentations they will be asked to make when they visit prospective employers. The Department also handles and pays for mailing of all application materials.
Does the department have a workshop series? Are graduate students involved?
The department has several workshop series that meet on a regular basis throughout the semester. These include the Mark Berger Workshop in Applied Microeconomic Theory, the Macroeconomics Workshop, and the Poverty Center Workshop. Workshops are a mix of external speakers, economics at other institutions, and internal papers, both by faculty and graduate students. Graduate students are expected to attend and participate in the workshops as well as present in them at some point or possibly several times during their time in graduate school. In addition to improving their presentation skills, comments from faculty at these workshops can significantly improve the quality of the students’ research.
In addition to the workshops described above, there is a Graduate Student Workshop. Here the audience is other graduate students. In this workshop students have an opportunity to present more preliminary research as well as practice their presentation skills.
Workshops are a very important component of the research program, both for faculty and graduate students, in our department and something with which we have spent a great deal of time in organizing and planning. The current schedule for our workshops is available at our web site.
Do graduate students frequently co-author with faculty and each other?
Yes, graduate students frequently co-author with faculty and occasionally with other graduate students. Some of this co-authorship may be related to the student’s dissertation research, some may be related to the student’s work as a research assistant, and some may arise simply through mutual interests.
Are there opportunities for graduate students to attend conferences?
Yes. Students, particularly if they will be on the job market in the near future, are strongly encouraged to attend and present their research at conferences. Both the Graduate School and the department have provided significant funding of graduate students trips to conferences in order to present their research. Recent conferences that UK students presented research include:
Southern Economics Association Meetings (SEA)
National Tax Association Meetings (NTA)
Western Economics Association Meetings (WEA)
Midwest International Economics Meetings
Midwest Macroeconomics Meetings
Kentucky Economics Association (KEA)
Program Structure and Requirements for Ph.D. Students
How long does the program take to complete?
The length of the program depends on the student. Most coursework is generally completed by the first semester of the student’s third year. Some students enter the job market in their fourth year while, like many Ph.D. programs in economics, increasingly more will enter the job market in their fifth year. Students who have made satisfactory progress throughout the program will receive four years of funding; fifth year funding is not guaranteed though we have been able to offer it for students demonstrating progress on their dissertation. The average length of time to complete a dissertation is approximately 4.5 years.
What is the general structure of program?
In the first year of our program, students primarily take courses in theory and econometrics with a course in mathematical economics as well. In June, students take preliminary examinations in microeconomics and macroeconomics.
During their second year students take an additional course in microeconomic theory (General Equilibrium and Welfare Economics) and an additional course in econometrics. In addition, students will take two courses in at least one, and generally both, of their two fields. In June, students will take an exam in one of their two fields.
In the third year, students have nine more credits (three courses) of supplemental work to complete. Frequently three credits of this work is independent study on their dissertations. During the third year students are working on their dissertation and expected to defend a dissertation proposal.
In the fourth year, students are focused on their dissertation. Some may go on the job market this year; if not, they will go on the job market in their fifth year.
An outline of the typical Ph.D. schedule is found at Ph.D. Program in Economics.
What fields are offered at Kentucky? How many fields are students required to take?
We offer fields in Labor, Public, Industrial Organization, International Economics, Monetary, and Health/Environmental. Field courses are offered on an every other year basis with each field consisting of two courses.
We require students to coursework in two fields. However, they are tested in only one of the two fields. Ideally, this should be the field in which they intend to write their dissertation.
What examinations are students required to take?
Normally, at the end of their first year (June) students take preliminary examinations in both microeconomic theory and macroeconomic theory. Students are required to pass both examinations. If they fail one or both exams the first time, they have a second chance to take whichever exam they failed.
In addition to the preliminary examinations, students have to pass an examination in one field. Normally this exam is taken at the end of the second year. They have two attempts to pass this exam as well. This exam is the written component of the “Qualifying Exam” with the oral component being the student’s dissertation proposal defense generally done during their third year.
Teaching Opportunities for Ph.D. Students
Do Ph.D. graduate students have the opportunity to teach their own course as graduate students?
Yes, but not immediately. Graduate students who receive TA funding for their first year serve as assistants, primarily graders, for faculty. However, in their second through fourth year they have the opportunity to teach their own sections of a course. While teaching their own sections, teaching assistants teach under the guidance of a faculty coordinator who can offer assistance and suggestions to help them in their teaching. Generally students teach sections of introductory microeconomics or macroeconomics or business statistics. However, more senior students have occasionally taught other courses such as intermediate microeconomics or macroeconomics.
Is there any training as a teacher?
Yes. The graduate school does some orientation for teaching assistants. More important, however, is the training done by the department. Funded graduate students take ECO 700 Teaching Methods in Economics, a one credit course in August before the start of their second year. In this course students are often guidance and suggestions on how to be effective teachers by Robert Gillette and Gail Hoyt, faculty members know throughout the profession as outstanding teachers. In addition, graduate students are reviewed by faculty members every semester and offered advice on how to be an effective teacher.
Master’s Degree Program
How do I apply for the Masters program in Economics?
See Admissions Section above.
Is financial aid available for Master’s Degree graduate students?
In general, Masters graduate students are not offered financial aid.
How long does the Masters program take to complete and how many credits are required?
The average student takes one and a half (1 ½) years to complete the program. Thirty credits are required. The "success in final examination" is passing (at the master level) the micro and macro preliminary exams. No thesis is required. For a more complete description and course list go to Masters Program.
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