Thinking about a PhD in economics? Good for you. Now is a wonderful time to earn a doctorate in the subject. You’ll likely have your pick of jobs, in academia, in government, in the private sector. You’ll be well paid, especially if you work for a Fortune 500 company. 

But it isn’t all rosy—and it isn’t all economics per se. A lot of it is statistical work (such as regression analysis) and data cleaning. Do you like to write and make presentations? You’ll have to do both. What about computer coding? You’ll likely have to do that too.  

PhD programs will test you. They will test your commitment to the scholarly life, your belief in yourself, your sanity. This brief guide hopes to prepare you for those tests—and to decide whether you want to subject yourself to them at all. Graduate school is not for everyone.

The guide addresses four areas: academic-preparation, including the professional literature; emotional and mental preparation; the structure of PhD programs; and understanding and engaging with faculty.

I should note that this guide strictly reflects my own views and should not be taken to represent the views of any of my employers.