Best School for PhD in Economics

When it comes to pursuing a PhD in Economics, choosing the right institution is crucial to academic and professional success. The institutions that stand out in this field are known not only for their rigorous academic programs but also for their remarkable faculty, research opportunities, and impressive job placement records. Among the best economics schools for PhD degree programs are Northwestern University, Lehigh University, the University of California Berkeley, the University of Essex, and the University of Glasgow, each offering unique strengths that cater to students interested in economics as both a rigorous academic discipline and a means to influence real-world policy and business decisions.

Northwestern University, located in the United States, is widely regarded as one of the leading institutions in the world for economics. The university’s Department of Economics has a global reputation for excellence, bolstered by its impressive track record in recruiting, training, and placing graduate students in top-tier academic and research positions. Northwestern's PhD program is known for its diverse faculty, which includes world-renowned scholars who have made significant contributions to various fields of economics, from macroeconomics and microeconomics to econometrics and political economy. The department is particularly celebrated for its high-impact research, and its faculty members have published extensively in leading academic journals. An article in the Journal of the European Economic Association ranked Northwestern 4th in the world for faculty publications in the top thirty leading economics journals from 1995 to 1999, a testament to the department’s ongoing influence. Northwestern’s economics program is not only academically rigorous but also highly connected to both the academic community and the private sector, making it a premier choice for aspiring economists.

Lehigh University, also in the United States, provides a unique environment for doctoral students in economics. The PhD program at Lehigh is designed for individuals with a passion for research and teaching who aim to contribute meaningfully to the advancement and application of economic knowledge. Lehigh's College of Business and Economics is accredited by AACSB International, ensuring that students receive a high-quality education grounded in both theoretical knowledge and practical skills. The program emphasizes a blend of academic rigor and real-world relevance, preparing students for successful careers as educators, researchers, and analysts. Although Lehigh may not have the same international reputation as some other universities, it offers a close-knit academic community, personalized attention from faculty, and a focus on the development of independent research skills. The department's commitment to producing highly qualified researchers has earned Lehigh a solid reputation within the academic world, making it an excellent choice for students looking for a strong foundation in economics.

The University of California, Berkeley, is another top-tier institution that offers one of the most prestigious PhD programs in economics. Berkeley’s Economics Department has been a leader in economic thought for many years, and its PhD program is designed for students interested in pursuing advanced study and conducting original research in economics. Berkeley economics graduates have gone on to hold influential positions at prestigious institutions, including Harvard, MIT, and Yale, illustrating the program’s exceptional quality and widespread recognition. The faculty at Berkeley is among the best in the world, offering a diverse range of expertise across all major fields of economics, and the university's commitment to fostering interdisciplinary research further enhances the depth and scope of its program. In the US News and World Report rankings of 2010, Berkeley’s Economics Department was ranked 6th in the United States, further solidifying its position as a leading global institution for economics. The program offers a rich environment for intellectual growth, providing students with the opportunity to work closely with faculty members on cutting-edge research projects that have both academic and practical implications.

In the United Kingdom, the University of Essex stands out as a premier destination for students pursuing a PhD in economics. The university’s Department of Economics offers one of the most advanced research degrees in the field, and its PhD program has been ranked among the best in the UK. In the 2008 Research Assessment Exercise, Essex was ranked joint 3rd among all UK economics departments, demonstrating the department's commitment to high-quality research and its global reputation. The department's focus on economic theory, policy analysis, and applied research makes it an attractive choice for students who are passionate about both the academic and practical aspects of economics. Essex has also garnered praise for its exceptional teaching quality, with the department receiving a perfect score of 24/24 in the national assessment of teaching quality. Additionally, the university has been recognized as one of the top four research departments in the UK in evaluations by the Higher Education Funding Council for England (HEFCE). Essex’s economics program also enjoys a strong reputation in European rankings, being rated "excellent" by the Centre for Higher Education Development in Germany, further solidifying its standing as a leading institution for doctoral studies in economics.

Another top UK institution for doctoral studies in economics is the University of Glasgow, whose Department of Economics offers a highly respected PhD program. The program is research-based, and candidates are paired with supervisors who possess expertise in their chosen area of study. Glasgow’s economics department is ranked as one of the best in the UK, with its research receiving international recognition. The university's strong focus on research quality is reflected in the 2008 Research Assessment Exercise, which placed the Department of Economics at the top in Scotland based on its Grade Point Average (GPA) and research income. The department is also known for its world-class research output, with 75% of its research being considered world-leading or internationally excellent. Glasgow’s economics PhD program is highly regarded not only for its academic rigor but also for the supportive research environment it provides. The university’s commitment to fostering innovative research and its ability to attract talented PhD candidates make it an ideal destination for those seeking to make a significant impact in the field of economics.