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The goal of the Economics Ph.D. program at the University of Wisconsin–Madison is to train economists: graduates of the program are prepared to undertake advanced research in economic theory, econometrics, and applied branches of economics, and to apply their knowledge and skills to a wide range of problems in a broad array of institutional settings. These aims are achieved through a program that combines coursework, examinations, seminars, and independent research, culminating in the completion and defense of a doctoral dissertation. The program has been very successful at achieving these aims, as evidenced by its strong national reputation and placement record.

During the first year of the graduate program, students must acquire a thorough knowledge of microeconomic theory, macroeconomic theory, and econometrics. The nature of this material demands that entering students have considerable mathematics skills, at a minimum including complete facility with the basic tools of multivariate calculus, linear algebra and mathematical statistics.

During the spring semester the department holds seminars for first-year students, featuring the seven fields offered by the department. These seminars provide an opportunity to meet the faculty and learn about research in each field. At the end of the first year of study, students take a preliminary examination in both micro and macroeconomic theory. The purpose of these examinations is to determine if the student has an adequate command of the concepts and methods that should be part of the intellectual equipment of all economists. Students who fail either examination may retake the examination(s) in January of the second year.

During the second year, students acquire more specialized knowledge by taking the required courses in their major field of study and course work in the minor field. Throughout the year, students also 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 often becomes one of the chapters of the student's dissertation, and must be approved by the end of the summer of the second year to satisfy the qualifying process for the major field.

In the third year, students complete courses in their minor field and continue to work on their dissertation. Throughout the year, students are required to actively participate in the research seminars of their chosen fields, both by presenting their own research and critically analyzing that of others. In addition, students must submit an approved dissertation proposal to the Graduate Committee. By the beginning of the fourth year, students bring their dissertation research to a stage where one or two polished research papers are ready for presentation at other universities or research institutions. With the help of the department's placement services, students then explore the job market. By the end of the fourth year, all work on the dissertation should be completed.

In some circumstances, students with an ambitious or risky research program may need an extra year to complete the degree. However, the department actively discourages students from taking more than five years to do so.

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Comments or questions about the Graduate Program should be directed to Graduate Program in Economics