The PhD program is small and focused, with students concentrating in one field of specialization. Fewer than ten students enter the program each year. Students may concentrate in either industrial organization, competition policy, and regulatory economics; or labor economics. Each field is covered in two semester courses at the PhD level. Students who elect the industrial organization, competition policy, and regulatory economics field may further elect a second field in transportation economics. Admission from the Bachelor’s level requires taking the MA core courses and two additional elective courses plus the PhD requirements.
The PhD program is STEM certified covering a curriculum based on the idea of educating students in four specific disciplines — science, technology, engineering and mathematics — in an interdisciplinary and applied approach. (The IPEDS classification: Detail for CIP Code 45.0603 Title: Econometrics and Quantitative Economics)
The field of Industrial Organization, Competition Policy, and Regulatory Economics analyzes and evaluates the performance of markets and devises appropriate policy responses when markets are not performing well. By developing techniques for examining the structure, conduct, and performance of markets, it bridges economic theory and the real world. In addition, it helps to develop and implement antitrust and regulatory policies to remedy failures of those markets. Students specializing in industrial organization may further elect a second field in transportation economics.
The field of labor economics analyzes the neoclassical labor market, covering such topics as the supply of labor from the perspective of the individual and the family, human capital. the demand for labor, market equilibrium, and the determination and distribution of wages and earnings. Theoretical and empirical issues surrounding current topics in labor economics are examined, and may include discrimination, efficiency wage theory, labor legislation, life cycle analysis and the use of microdata (panel studies), search behavior, intergenerational earnings mobility, and employment and training policies.