BUSINESS ECONOMICS
Program of Study
Each candidate’s program of study will be developed in consultation with the chair of the Programs and Admissions Committee. The normal program is outlined below.
The First Two Years
Advising
The Policy and Admissions Committee designates faculty members at the Business School and the Faculty of Arts and Sciences as sponsors for each student upon entrance into the Business Economics program. The sponsors, in conjunction with the PhD Program Offices, will assist the student in deciding which courses to take and how to fulfill various degree requirements. It is expected that students will establish relationships with other faculty members, and it is possible that the major academic advisory role may be assumed by different faculty members in the dissertation stage of a candidate's program. However, students are strongly advised to consult with the sponsors and with the PhD Program Offices during all stages of PhD work.
Coursework
- Two one-term courses in microeconomic theory (Econ 2010 a, b) are required.
- One one-term course in macroeconomics theory (Econ 2010 c) is required.
- Two one-term courses in graduate quantitative methods (Econ 2110 and 2120) or a more advanced course in econometrics are required.
- One additional one-term graduate level economics course is required. This could be Econ 2110d or any other preparatory course for advanced coursework in the second year. The advisor’s approval of the course selected for this requirement is necessary. The course could be, for example, additional mathematics, statistics, or psychology, at the graduate level.
- Completion of the business history requirement the business history requirement may be completed in several ways including the Business History Seminar, a pre-approved individual studies course, or a pre-approved MBA course.
- All courses should be completed with a grade of B or better.
Business Education for Scholars and Teachers
Completion of the three-course Business Education for Scholars and Teachers (BEST) series
- BEST Foundations (Year 1)
- BEST Integration (Year 2)
- BEST Teach (Year 3)
In consultation with faculty advisors, students engage in a customized field experience as part of BEST integration.
General Exam
A written general exam in microeconomic theory is required; students must pass this exam with a grade of B or better.
Special Field Exam
The special field, also called “Orals”, should represent some synthesis of an area or areas of study in business administration with appropriate complementary areas of economics.
The Special Field Exam is completed at the end of second year or the beginning of third year. The exam is taken in three areas of concentration. There are three faculty examiners - at least one from FAS and at least one from HBS. The faculty examiners for the concentrations are chosen by the student. The student and each examiner construct a reading list which defines the scope of the examination and serves as a guide in preparing for it.
The reading list can be drawn from or expand upon the reading list of a course the student has taken. Typically, each concentration will cover material that is equivalent to two terms of coursework. Doctoral courses and seminars, reading courses with individual faculty members, and second-year MBA courses are the typical sources for preparation for the orals. The three areas, taken together, should demonstrate good breadth of preparation.
Once the lists are agreed upon by the student and the examiner, they must be approved by the program faculty chair. Approval should be obtained well in advance of the scheduled examination in order to allow time for adjustments to be made, and for coordination among the examiners, if necessary.
Year Three and Beyond
Teaching Requirement
Students are required to complete a teaching engagement of one full academic term that includes at least 8 hours of front-of-class teaching experience and at least 16 hours of teaching preparation time.
The Dissertation
After passing the Special Field Exam, students are expected to enroll in a working seminar or participate in an informal lunchtime seminar group. Students in their third year or beyond must present in the working seminar (or informal lunchtime seminar) at least once per year.
The student selects a faculty dissertation committee consisting of three members of the Harvard faculty; two of whom must be members of the Faculty of Arts and Sciences (one must be in the Department of Economics and one must be from the Business School). Under the dissertation committee’s advisorship, the student will proceed to complete the dissertation research. The dissertation should demonstrate the candidate’s ability to perform original research that develops in a scholarly way a significant contribution to the knowledge and understanding in the chosen special field. The requirement is that the analysis and evaluation of relevant data yield significant and independent conclusions.
Completion
Normal completion time is five years. To remain in good standing, the candidate should complete the program in six years.