Admissions FAQ
FREQUENTLY ASKED QUESTIONS
THE APPLICATION
What is your application deadline?
The application filing deadline is December 15, 2009 for matriculation in September 2010. Applications received after December 15 will not be considered; however, supplementary materials such as transcripts and recommendations that are received in early January will be added to existing applicant files.
May I use MIT’s graduate application?
Yes. The Economics Department uses MIT’s online application, available here.
Where should I mail transcripts and other supplementary paper documents?
Paper documents may be mailed directly to the Department:
PhD Admissions
MIT, E52-391D
Department of Economics
77 Massachusetts Avenue
Cambridge, MA 02139-4307
USA
Can the application fee be waived?
No.
What is the Department looking for in applicants? Which components of the application hold the most weight?
The Department looks for academic and research potential, and focuses primarily on coursework, grades, and letters of recommendation.
What degree do I need to apply? Must my undergraduate work be in economics?
A bachelor’s degree (or equivalent) is required. It is not essential that the bachelor’s degree be in economics, but some preparation in undergraduate economics, especially in economic theory, is a necessity, as is a working knowledge of calculus.
Is it required or recommended that I complete any specific undergraduate coursework?
No specific coursework is required. Some students come to us after finishing master’s degrees in economics, some come from undergraduate economics program, and some have degrees in some other field. What we look for depends on the student’s background. Successful candidates whose prior background is primarily in economics have typically excelled in advanced undergraduate or graduate courses and taken math at least through linear algebra. Many have taken real analysis or some other advanced proof-oriented course, though this is not necessary. For candidates who were not economics concentrators we look for evidence of exceptional performance in their prior field of study, strong technical skills, and some economics background. It would be unusual for us to accept a student who had not taken intermediate microeconomics.
Is a minimum GPA required to apply?
Since many schools do not calculate GPAs, we do not impose a set minimum. However, the applicant pool is academically strong and very competitive.
May I apply simultaneously to the Department of Economics PhD program and MIT’s Sloan School of Management PhD in Finance?
Yes.
Do you have rolling admissions?
No, we do not offer rolling admissions.
I’d like to visit the Department. May I meet with faculty?
Due to the large volume of applications we receive it is not feasible for us to interview applicants and we discourage students from visiting before admissions decisions are made. Applicants accepted into the program will be invited to visit the department's open house in March or April and most students find that there is plenty of time to visit all of their top choices after acceptances come out. Applicants seeking further information about a faculty member’s field of research can contact that professor via email, but should keep in mind that faculty have many commitments.
When can I expect to be notified about an admission decision?
Most notices of acceptance are sent out by March 14, although some may be sent as late as April 1; candidates have until April 15 to notify the Department of their decisions. Information about decisions cannot be given over the phone.
Can an applicant who was not accepted into the program request information as to why they were not accepted?
Due to the large volume of qualified applicants to the Economics graduate program and the small number of students accepted, we are unable to give specifics as to why an application was denied.
What degree does an applicant need to apply to the PhD program?
An applicant only needs an undergraduate degree from a four-year accredited school within the
United States, or a similar three or four-year program from an accredited college or university from around the world. In the case where the applicant received the degree from an institution where English is
the language of instruction such as Great Britain, Canada, India, or
Australia, etc., an applicant does not need to submit results from the TOEFL or IELTS.
Can I have more than three letters of recommendation? What if my recommender wants to send in a hard copy of the recommendation letter?
The online application only allow for three letters of recommendation. Click here for a pdf of the recommendation form. If you wish to send in further letters or if you recommender would like to mail the letter via regular mail, please use the follow address.
PhD Admissions
MIT, E52-391D
Department of Economics
77 Massachusetts Avenue
Cambridge, MA 02139-4307
USA
Whom do I contact if I have questions about the application process?
Please send email to econ-admit@mit.edu.
TESTS
What tests do you require?
The Department requires a current GRE score. Non-native English speakers are also required to submit a current TOEFL or IELTS score.
Under what circumstances may the TOEFL or IELTS requirement be waived?
MIT's policy is to waive the TOEFL or IELTS requirement for international non-native speakers of English who have received an undergraduate degree from a four-year accredited school within the United States, or a similar three or four-year program where English is the language of instruction in Great Britain, Canada, India, or Australia, etc.
English instruction at only a one or two year masters degree is not sufficient to waive the TOEFL/IELTS requirement.
Do you accept GMAT or LSAT scores in place of the GRE?
No.
What are the testing deadlines?
Because ETS takes 2-3 weeks to report scores, applicants are expected to take the GRE by the mid-December test date.
Is there a minimum GRE score requirement?
There is no minimum GRE test score required, although the faculty is most interested in applicants with the highest quantitative scoring.
Is there a minimum TOEFL/IELTS score requirement?
For the TOEFL, the Department’s minimum requirement is 577 for the paper-based test, 250 for the computer-based test, and 100 for the internet-based test. The minimum IELTS score required for applicants to the Ph.D. program in the Department of Economics is 7.0.
What are the GRE/TOEFL/IELTS reporting codes?
MIT's school code for the GRE and TOEFL is 3514, and the code for the Department of Economics is 1801. IELTS does not require a code. Just write “Department of Economics, Massachusetts Institute of Technology.” No address is required as scores are reported electronically.
What if GRE scores or other important information becomes available after I've submitted my application? How do I update my file?
Please go to “new information” and, if necessary, add further details in the “comments” section.
If my GRE or TOEFL scores are old and ETS will not send them, will they still fulfill the application requirement?
No, we require official ETS scores.
THE PROGRAM
How many applications does the department receive each year, and how many applicants are admitted?
The Department receives, on average, about 700 applications each year. About 40 students are admitted, and 20-25 matriculate.
What portion of graduate students are international? Are there any special considerations or requirements for international applications?
A significant portion, usually about half, of admitted students are international. No, there are no special considerations or requirements for those applications.
How long does it take to complete the PhD program?
The duration varies depending on the individual, but on average the program is completed in five years, with the first two years being required coursework and the latter three devoted to field research and dissertation writing.
May I transfer credits from another master's or PhD program I have attended?
No, we do not accept transfer credits. However, the Department offers a system of waiver exams for Micro Theory, Macro Theory, and Statistics.
Is an accepted student allowed to defer?
Deferrals are handled on an individual basis. The maximum deferral granted is two years. Any funding offer may not be deferred.
Do you offer a master’s degree?
No, we only offer a Ph.D.
Do you offer a distance learning degree, a part-time degree program, or part-time non-degree study?
We offer neither a distance learning degree nor a part-time degree program. Part-time non-degree study is considered “Special Student status” by MIT and is overseen by the Graduate Students Office. Please see their website (link) for more information.
FINANCIAL AID
Does the program offer financial aid? Are international students eligible?
Yes, financial aid is offered, and international students are eligible. Full scholarship offers include full tuition for the academic year, twelve-month individual health insurance, and a stipend/salary to cover living expenses for the nine-month academic year. Continuation of financial aid for years two through five is dependent on satisfactory academic progress. In the third through fifth year, the financial aid typically takes the form of a Teaching Assistantship.
What if I have some partial outside funding?
Such situations are dealt with on a case-by-case basis. Generally, if the Department can offer financial support it will offer a supplement to bring a student’s funding up to the equivalent of our full scholarship offer. Having outside funding does not guarantee admittance to the program.
Does my stipend cover health insurance?
Your mandatory health fee is covered by your award (and is not taken out of your stipend) and includes Accident and Hospitalization Insurance. You will receive this insurance unless you can demonstrate that you have equivalent insurance through another program, in which case you must complete a waiver form available at MIT Medical.
Does the Economics department fund all graduate students?
No, the department does not have sufficient financial resources to fund all admitted graduate students. We admit some qualified applicants without providing them with funding. We hope that students in this situation are able to find other funding sources, but recognize that unfortunately this will sometimes not happen.
Can I re-apply for admission?
Yes. We keep all admissions materials for five years. In order to re-apply, you must provide at least one new recommendation letter as well as the normal application forms, transcripts, etc. The application fee is NOT waived for re-applying.