Ph.D. Program
The Ph.D. program in economics provides students with training in modern microeconomics, macroeconomics, and econometrics, combined with specialized training in the fields of international finance and international trade and options to pursue specializations in economic development, monetary economics, applied microeconomics, experimental economics, and other areas.
The program’s core emphasis is on international trade and finance. We offer more intensive coursework in these areas and greater faculty depth in various aspects of international economics than traditional economics Ph.D. programs that offer international economics as a single subfield. However, our department is also home to a large number of globally recognized faculty who specialize in other fields of economics and regularly supervise Ph.D. students. You can learn more about the research interests of our faculty on our Research Areas page.
Graduates of the program have researched a wide variety of topics; examples include monetary economics, experimental economics, environmental economics, and economic growth and development, as well as international economics.
Program requirements
Learning outcomes
- Quantitative Reasoning: Students can participate productively in quantitative reasoning and problem-solving.
- Disciplinary Depth: Students develop advanced mastery of content and practices of the academic areas that directly inform their scholarly work.
- Research: Students are able to conduct first class, transformative research in Economics.
- Communication & Teaching: Students can communicate clearly about their scholarly work and teach effectively at the university level.
Meet our alumni
Shilpa Aggarwal: Associate Professor of Economics and Public Policy at the Indian School of Business
2014 Ph.D. graduate Shilpa Aggarwal is a development economist whose dissertation research focused on how roadbuilding in India affected a variety of economic outcomes for rural communities. Now, as a faculty member at the Indian School of Business, she studies issues including farm subsidies, agricultural price controls, and food security programs.
Luba Petersen: Associate Professor of Economics at Simon Fraser University
As a Simon Fraser University faculty member, 2012 Ph.D. alumna Luba Petersen studies how monetary policy and central bank communication affect public expectations and financial decisions. She is a research associate of the National Bureau of Economic Research and a research fellow for the Center for Economic and Policy Research’s research policy network in central bank communication.
David Munro: Associate Professor of Economics at Middlebury College
UCSC alumnus David Munro, who earned his Ph.D. in 2016, now teaches classes in macroeconomics, international finance, and money and banking at Middlebury College. His research focuses on macroeconomics, experimental economics, and labor economics, including unemployment, inflation, wage bargaining, and investor behavior.
For more information on where our alumni end up, see our full list of job placements.
Financial support for students
Departmental financial support is based on merit and is determined along with the admission decision. Students admitted to the Ph.D program are offered 5-year funding packages for the 3 quarter/9-month academic year, with university-stipulated minimum levels.
Please refer to Graduate Division Financial Aid for more details, and see department-specific information on our Graduate Student Employment and Aid page.
Application requirements
Applicants must have a strong background in mathematics and show either prior experience or great promise in conducting research. Candidates with prior coursework in advanced undergraduate or master’s-level economics are preferred. The department looks especially favorably upon applicants who can speak cogently about their specific research interests.
The American Economic Association provides guidelines for the type of math background that will make your application competitive. Applicants may demonstrate research aptitude through experience as research assistants, research-based job experience, or thesis-level independent research. Finalist applicants may be invited to a video conference interview.
Test score requirements
The university does not accept GMAT scores in lieu of the GRE for the Ph.D. program. The GRE school code for UC Santa Cruz is 4860. We are accepting computer-based GRE scores; however, in weighing these scores when we review applications, we will take into account the controversy surrounding the computer-based test scores coming from selected countries. The minimum GPA requirement for UC graduate admissions is 3.0. International applicants need not convert their international GPA to the U.S. GPA scale.
Language requirements
For details on language requirements for admission and teaching assistantships, eligibility for waivers, and the process for requesting a waiver, please refer to Graduate Admissions Language Requirements.
Application process
Applications are available beginning October 1. The deadline to apply for the Ph.D. program is (INSERT DATE). Classes are sequential. We admit only for the following fall quarter.
General information about applying to a United States Ph.D. Program in Economics can be found in the webinar presented by Associate Professor Ajay Shenoy, director of the Ph.D. program in economics. For instructions on how to apply, visit the Division of Graduate Studies Admissions. For further information about our program, contact the Graduate Programs Coordinator, (831) 459-2219, econ_grad_coor@ucsc.edu.
Fee waivers
Application fee waivers are available on the online application for Graduate Opportunity Program applicants and hardship cases. The university does not waive the application fee for international applicants.
Timeline for admission offers
The review of applications is generally completed by March 15. Most offers of admission are prepared and mailed by March 31. Denial letters are sent thereafter. Admitted applicants have until April 15 to reply with their acceptance of fellowship offers.