Applying for a Ph.D. Program in Economics/Finance Eren Arbatlı Assistant Professor, Higher School of Economics April 27, 2015 Office: 3116 A on Twitter

Application calendar: September-October: o Start selecting schools (be careful about additional requirements). o Talk to professors for recommendation letters. September-November: Practice for and take TOEFL/GRE December to late January: Deadline for most applications February-April: Acceptance letters received. First offers: mid-Feb. August: Begin grad. school. Applying for a Ph.D. in Economics/Finance

1.Make a Personal Timeline:  TOEFL/IELTS and GRE study time [about 3 months of regular studying]  GRE test date[s]  Statement of Purpose (SOP) deadlines  Recommendation letter deadlines  Application deadlines, and supporting material deadlines.  Build plenty of cushion time into your timeline. Applying for a Ph.D. in Economics/Finance

2. Statement of Purpose (SOP): – Can have a big impact on decisions – A weak spot for many Russian candidates – Nobody cares about why you want to be an economist They care about whether you can become one and how! – Talk intelligently about (1) your relevant achievements (grants/scholarships/awards/research papers) (2) your econ and math background (emphasize advanced courses) (3) your topic(s) of interest (4) why you want that particular school – Convince them: You like doing research You know what a Ph.D. program entails You did your research on the particular program you are applying Applying for a Ph.D. in Economics/Finance

2. Statement of Purpose (SOP) – Don’t be humble ! Don’t understate your qualifications ! But don’t lie either. – Point out the advanced (graduate)/difficult classes you took ! – Keep it at 1-2 pages (don’t exceed 1000 words). – Don’t tell them your life story – Read successful examples on the web. – Get feedback on structure and content from me and other IR faculty members! – Seek language support (proof-reading/corrections) from a native speaker.

Applying for a Ph.D. in Economics/Finance 3. Recommendation letters:  Very very important !  2-3 letters (minimum)  Mostly asked from econ./finance professors (letters from employers are less important)  Ask for a letter if any of these apply: you …  took a class from him/her and did very well,  wrote a strong essay/thesis/dissertation under his/her supervision,  worked for him/her as an RA,  had some close, personal interaction relevant to your application.

Applying for a Ph.D. in Economics/Finance 3. Recommendation letters:  Other things equal: status/reputation/connections of writer has a positive impact  But things are usually not equal  A mediocre or bad letter hurts more than a superb one helps.  Good recommendation = “This person can and will do good research” + backs this claim with comparative statements.  Ask potential recommenders whether they would be willing to write a “strong” letter or not.

Applying for a Ph.D. in Economics/Finance 4. TOEFL/GRE: GRE Verbal does not matter when TOEFL (or IELTS if accepted) is well above minimum requirements GRE Quantitative is important (aim for top score, 170). Take GRE early, re-take if GRE Quantitative is not in “good” range TOEFL minimum requirements: e.g. Chicago U. (26 from each section and 104 in total)

How I can help you Detailed comments on your SOPs, ways to improve it Advice on narrowing down list of schools to apply Advice on selecting faculty to ask for a recommendation Help with post-admission decisions

What I need to help you A description of your student profile – grades from econ and math courses, cumulative GPA – academic interests, do you aim for M.A. or Ph.D. Finance/Econ, geographical preference The best draft of your CV and SOP (work on it hard before you send it to me) Excel sheet with the name of the programs you consider Make appointment with me early on

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