Research and the PhD Path

What doing a PhD in economics involves, where Indian students study, and careers in academic research.

For those who love asking and answering deep questions, research is a rewarding path.

What a PhD involves

Coursework in advanced microeconomics, macroeconomics and econometrics, typically for the first one or two years.
Original research, leading to a dissertation, usually made up of research papers.
A PhD in economics often takes five to six years abroad and several years in India.

Where to study

Abroad: many Indian students pursue PhDs in the US, often with full funding and stipends, or in the UK and Europe.
India: institutions such as the Indian Statistical Institute, Delhi School of Economics, IGIDR, JNU and the IITs and IIMs offer PhD programmes.

Admission

Strong grades, especially in maths.
Research experience, such as working as a research assistant.
Recommendation letters.
For US programmes, the GRE is often required or optional.

Careers after a PhD

Professor at universities.
Researcher at central banks, international organisations like the IMF and World Bank, or think tanks.
Economist in tech firms or finance.

Publishing

Academic careers depend on publishing research in peer-reviewed journals.

Is it for you?

A PhD requires curiosity, persistence and comfort with uncertainty. Working as a research assistant first is a good way to find out.

The research question

A PhD student in India studies whether mobile phones helped fishermen get better prices. She collects data, writes a paper, presents at conferences and eventually publishes in a journal.

Thinking a PhD is only for becoming a professor

PhD economists also work at central banks, international organisations, tech firms and finance.

Key takeaways

An economics PhD involves advanced coursework and original research.
Indian students study in India and abroad, often with funding.
Research experience and maths strength help admission.
PhDs lead to academic, policy, international and private roles.