Application statistics & policies

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We aim for an incoming class of 6-8 students. Typically, all students receive full funding including a full tuition waiver, an annual stipend, and health insurance. The stipend level depends on the type of fellowship. Effective Fall 2024, our departmental Graduate Assistantship stipend for incoming students will be around $25,000. The stipend for the George W. Bush Institute Doctoral Fellowships, Moody Graduate Fellowships, University Ph.D. Fellowships, and Mustang Fellowships are around $30,000. 

Please contact the Director of Doctoral Studies Michael Sposi for any further information.

Statistics from Fall 2024 application cycle

• 156 applications
• 27 first round offers with full funding
• No unfunded offers
• 7 students in the incoming class, all with full funding
• 1 students with Moody Graduate Fellowships

Deadlines

Priority consideration for department Graduate Assistantships

• January 15, 2025: All applicants that wish to be considered for funding through departmental graduate assistantships and other university wide fellowships should complete their application for admission (to the Moody School of Graduate and Advanced Studies) by this date. Note applications are not complete unless the official transcripts and score reports have been received. Students will be at a disadvantage when applying after this deadline because we make admission and first round funding decisions in early February.

• May 1, 2025: Final deadline. However, we rarely accept students applying after mid-late January.

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Policies for Fall 2025 application cycle

GRE

• Submission GRE scores is recommended but not required for applicants to the Ph.D. program in Economics. 

Language Requirement

Applicants who do not speak English as their native language are required to supply scores on the TOEFL English language proficiency test, the IELTS English competency test, the Duolingo English Test (DET), or the TOEFL Essentials exam.  The minimum TOEFL score for admission is 80. The minimum IELTS score is 6.5. The minimum score for the TOEFL Essentials is 8.5 with a minimum score of 8 in all subsections. The minimum DET score is 110 unless specified otherwise by a program or department.  SMU’s ETS (TOEFL) school code is 6660. For the IELTS, please indicate “SMU – Graduate Application Processing Office”. For DET, please send scores to “SMU – Dedman College of Humanities and Sciences.”

This requirement can only be waived if applicants have either a bachelor’s or master’s degree from a U.S. institution or a qualifying country from the list below:

• American Samoa
• Australia
• Bahamas
• Barbados
• Belize
• Canada (except Quebec)
• Dominica
• Ghana
• Grenada
• Grand Cayman
• Guyana
• Ireland
• Jamaica
• Kenya
• Liberia
• New Zealand
• Nigeria
• Singapore
• South Africa
• Trinidad/Tobago
• Turks and Caicos Islands
• United Kingdom
• U.S. Pacific Trust

Video essay

The Moody Graduate School requires a video essay for some students as part of the application to graduate school at SMU. It is required for students who both:

• Are required to submit TOEFL/IELTS/Duolingo scores (see above)
• Have a TOEFL speaking score below 23, or an IELTS score below 6.5, or take the Duolingo exam

Nevertheless, the strict policy of the Economics Department is that we do not use the video essay when evaluating applicants. 

FAQs

Do you have a part-time Ph.D. program?
No.

Can I start in the spring term?
No.

Can I apply for an application fee waiver?
Yes. The Moody Graduate School considers these on a case-by-case basis and it depends on the likelihood of us making you an offer and you accepting it. Naturally, it also depends on extenuating financial circumstances. Please contact the Director of Doctoral Studies Michael Sposi for further information.

Does the department offer financial aid to PhD students?
Yes, see the top of this page for further information.

How many applications do you receive and how many students do you admit?
Please see statistics at the top of this page. 

I already have a master's degree. Will this reduce my time to the Ph.D. degree?
No.

Do I need a masters degree to apply?
No. An incoming class typically has a mix of students who do and do not have a masters degree.

Is an interview part of the admission process?
Typically, no. We may request an interview in special circumstances.

Do I need to find a faculty member to supervise me before I apply?
No. All of our faculty members supervise PhD students. But, this is not decided before entering the PhD program. The first two years are coursework. Once research starts in the 3rd year, students start to work with various faculty members and choose their supervisor by the start of the 4th year. 

When will you make your admission decisions and how will I know?
We aim to make admission decisions in early February. The Director of Doctoral Studies will notify you by email. Official correspondence from the Moody Graduate School will follow.  

What kind of mathematical background should I have in order to enter the Ph.D. program?
Competitive students typically have a good undergraduate background in math classes such as calculus, linear algebra, probability and statistics, real analysis, and differential equations. 

Does my undergraduate or prior graduate work have to be in economics in order to apply?
No. But, competitive students typically have good undergraduate grades in intermediate microeconomics and intermediate macroeconomics. 

Do I have to take the GRE?
Please see the admission policies above.

What is the minimum GRE score I should have?
We focus on the quantitative GRE section and expect students to have a quantitative GRE score above 60. Our recent incoming classes have an average quantitative GRE score in the 160s. 

Do I need to take the TOEFL or IELTS?
Please see the admission policies above.

How do I submit my official test scores or may I send a copy of my GRE/TOEFL score record?
Official scores are now submitted to us electronically by the Educational Testing Service (ETS), which sponsors both exams. Our ETS code is 6660. Official scores must be submitted for admission. 

Do I need to complete the video essay part of the application?
Please see the admission policies above.

When is the comprehensive/qualifying exam?
The exam is taken in June at the end of the first year: a micro theory exam on one day and a macro theory exam on a separate day. Students must pass both parts to remain in the program. You can re-take any part that you failed in July. Anyone that does not pass the qualifying exam can get their M.A. degree by finishing the coursework in the Fall of their second year. 

How many of your graduate students are international students?
More than 90% of our current PhD students are international students. Our current PhD student body has international students from India, Bangladesh, China, Korea, Taiwan, Brazil, Chile, Iran, and Colombia.