What is the Department of Economics at USC like?

Both the faculty and the student body in the Department of Economics at USC are of modest size compared to those at many other leading research universities. This provides for a rather close-knit relationship between academics and their students, and ensures students have a central role to play in the department’s daily life. Students report that they value faculty mentorship and advice, and regard it as another advantage a small unit can offer. Being part of a committed research institution means that the department’s activity revolves around research: professors are seasoned researchers who teach research methods as an integral part of their graduate courses, support their students in becoming researchers, and are actively involved in disseminating research — their own, or that of others — typically through seminars and working papers. Seminars are held virtually every day in the department (roughly one a week in each of the department’s major research areas) and are the primary forum for presenting and learning about research at the frontiers of each field. Speakers come from all over the United States, and indeed the world. Frequently, the presentations are done jointly with UCLA, Caltech, RAND, and other institutions in the Southern California area.

What comprises the student body in the Department of Economics at USC?

At any one time the department has about 70 graduate students pursuing a Ph.D. and another 30 pursuing one of the M.A. programs. They come from a remarkably diverse group of countries. Many languages are spoken in the department, currently including French, Spanish, Italian, Turkish, Greek, Farsi, Portuguese, Romanian, Russian, Bulgarian, Korean, Mandarin, Hindi, and Arabic. Students report the atmosphere to be refreshingly cooperative, despite the naturally competitive character of the academic program.

What is the level of competition for admission?

At both M.A. and Ph.D. levels, the department attracts several hundred applications each year and, especially at the Ph.D. level, admits only those with exemplary academic achievements and, at least as importantly, outstanding drive and work ethic. At both levels it also seeks to attract students representing a diversity of backgrounds and interests. 

What financial assistance is available for Ph.D. students?

At the Ph.D. level, most incoming students are offered full funding for five years, which includes full tuition remission and a stipend (for 2006-07, usually of $18,000). The financial offers are generally of two types, assistantships and fellowships. The choice is made by the admissions committee based on relative merit, academic and research backgrounds, and departmental needs. Assistantships (either teaching or research) involve up to 20 hours of work per week, and are renewable for up to a total of five years.