Program & Campus Quick Facts

Your first year at Wisconsin will be focused on acquiring a thorough knowledge of microeconomic theory, macroeconomic theory, and econometrics. At the end of the first year, there are preliminary examinations in microeconomic and macroeconomic theory. During the second year, students acquire more specialized knowledge by taking the required courses in their major field of study, and beginning course work in the minor field. In addition, students work intensively on selecting an original research topic and, under the supervision of faculty in their chosen field of study, prepare a substantial paper demonstrating their ability to conduct independent research. This paper must be approved by the end of the first semester of the third year to maintain satisfactory academic progress. In the third year, students complete courses in their minor, attend a field specific research support course, and work on their dissertations. The fourth year is devoted to dissertation work, and the fifth year generally involves completion of the dissertation and job placement.

Students entering the doctoral program are required to have taken a three-course sequence in calculus, a course in linear algebra, and a course in mathematical statistics. These prerequisites are a bare minimum, and additional background in mathematics can ease the transition into the program. A detailed description of the department’s expectations about students’ mathematics preparation, both upon entry to the program and upon completion of first-year coursework, can be found on the mathematics preparation website.

The Department of Economics offers seven field areas of concentration: Econometrics, Industrial Organization, Labor Economics, International Economics, Macro/Monetary Economics, Microeconomic Theory, and Public Economics. Each field sponsors a weekly seminar to discuss current research by faculty, students, and visiting economists. Requirements for the major field consist of a prescribed set of courses and the completion of a substantial research paper. To get a better idea of the current research interests of our faculty, please refer to the faculty directory.

With 45,000 students, a 930-acre campus, and some 9,100 courses in 121 departments, UW-Madison is not a sleepy, small-town college. Students come from every state in the nation and over 134 countries around the world. The campus rolls along Lake Mendota, with wooded hills, and the busy city streets of downtown Madison. Students relax on the Memorial Union terrace with sailboats and kayaks in the background. More than 900 student organizations, extensive recreational programs, outdoor activities, modern fitness facilities, performing arts groups, Big Ten athletics, and ongoing cultural, social, and political events provide hundreds of ways to enjoy the campus. For more information about life on campus, visit the UW’s Campus Life page.

Housing for students is readily available throughout the community…close to campus (so you can walk or bike), or further away from campus (so you can bus or use a car). Rent will vary according to the type of housing you choose. Campus and Visitor Relations has developed the Off-Campus Housing Resource page to help students navigate their housing search, including average housing costs for various types of housing options. Most single graduate students live off campus in private housing. You can reduce housing expenses by sharing an apartment or house. If you are looking to share housing expenses with another student, contact the Graduate Program Office. Students interested in University-sponsored student housing should check the University Apartments website. A number of our students and families live in the Eagle Heights community within University Housing.

You have been admitted to the department as a potential Ph.D. candidate. You may earn a master’s degree in one of two ways.

1. Completion of 30 credits of graduate work in economics with a GPA of 3.0 or better, including 6 credits of graduate economic theory and a graduate course in economic statistics (ordinarily Econ 709). This option is for students who, for a variety of reasons, decide not to continue in the program.
2. Students may also receive a master’s degree after having passed the micro- and macroeconomic preliminary exams and after successfully completing the major field paper requirement.

We also offer a separate Master’s degree program.  For more information on the Master’s program, please contact Tchai Veu (veu@wisc.edu).

Students typically complete the program in five or six years.

Ph.D. students must pass the preliminary examinations, which consist of two parts: microeconomic theory and macroeconomic theory. Preliminary examinations are given twice each summer, in early and late summer. Students must pass examinations in both micro and macro theory before the beginning of the second year. The field paper must be approved by the end of the first semester of the third year for students to remain in good standing in the department.

The Department operates a placement service for the students who are seeking positions. Each year a faculty member is in charge of placement and the graduate coordinator assists with placement. Historically, our placement rate for Ph.D.’s has been high. Placement results are available on our Career Placement webpage.

Madison is Wisconsin’s capital city with a population of approximately 250,000. Madison consistently ranks as a top community in many respects. The city is known for its natural beauty (3 lakes within the city limits), progressive politics, and excellent public facilities including mass transportation. If you would like more information about the city, visit the City of Madison website or Destination Madison. Madison is located 90 miles from Milwaukee and 120 miles from Chicago. Buses run from campus to O’Hare Airport (Chicago) and Mitchell Field (Milwaukee) every couple of hours.