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When you apply to the Department of Economics for admission, your application will be considered for departmental financial support if you meet the December 15 application deadline. The department tries to fund as many first year students as possible. Funding decisions are based on academic merit. Our financial aid packages generally include a guarantee of support for four years of study and take the form of a fellowship, teaching assistantship, research assistantship or a combination of the three.

While we cannot fund every incoming student, the department has been very successful in supporting students who are making satisfactory progress. Indeed, to date all students in the second, third and fourth year of the program who are making satisfactory progress have financial support.

Fellowships

Fellowships offer the opportunity for full-time study with no work responsibilities. The Economics Department competes for fellowships in a University-wide competition. The stipend is over $15,000 for the 2006-2007 academic year. Fellowships also include health benefits and a tuition waiver. Fellowships are available to incoming students for one or two years of study, and to advanced students for dissertation work.

Teaching Assistantships

Teaching Assistantships offer opportunity for four years of guaranteed support when appointed in the first year of graduate study, provided academic and teaching performance is satisfactory. Teaching loads are usually four to six hours per week in small discussion sections of large lecture courses, plus grading, preparation, office hours, etc. Stipends are approximately $10,500, for the academic year (depending on experience and hours taught) plus a waiver of tuition and health benefits. International students who wish to teach during the first year of the graduate program must demonstrate proficiency in spoken English prior to taking on their duties by obtaining a satisfactory score in the Test of Spoken English (TSE) or the UW-Madison Speak Test.

NIMH Traineeships

The Department has a National Institute of Mental Health Training Program to fund up to six students in the economics of mental health and health. Students are generally into the second year of their program before becoming a trainee. Trainees receive a stipend of approximately $18,150 and tuition. They participate in a year round research seminar and work with faculty on research projects in health economics.

AOF

Advanced Opportunity Fellowships are University funds available for U.S. citizens who are minority students. To be considered for these funds you should indicate your minority status on the application form. The department submits names of eligible applicants for consideration in the University-wide competition. AOF provides a stipend of approximately $15,000 for the 2007-2008 academic year, health insurance eligibility, and tuition remission.

Scholarships

The department has a limited number scholarships which are given to incoming students.

Loans

We encourage you to consider the various student loan programs available to you, as well as work study funding. Applications should be filed before March 1 in order to receive priority consideration.

Tuition and Fees

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