The discipline of economics has become increasingly technical, focused on arcane abstractions, often failing to connect with the messiness of economics as it works in the “real” world. Michigan stands apart as a department which champions the view that the cutting-edge theoretical and empirical methods of economics can and should be used for understanding and improving the world in which we live. The faculty of the Department of Economics is committed to pursuing economic knowledge that contributes to solving significant social problems. The commitment to applied, relevant economics does not shun the development of new theoretical or statistical methods. Rather, rigorous analysis of problems requires fresh insights from theory and econometrics. Breadth: Michigan is a full-service department, offering fields in virtually all specializations of modern economics including microeconomic theory, econometrics, macroeconomics, finance, history, international economics, development, public finance, industrial organization, labor, and natural resources. Many faculty, and the students who work with them, collaborate with other programs on campus including the Ford School of Public Policy, the School of Public Health, the Institute for Social Research, the Ross School of Business, and the School of Information. With over 50 faculty actively engaged in research in the department, and an equal number in other programs on campus, graduate students can pursue a wide variety of specializations. Career development: Michigan is rightfully proud of its placement record. For decades, every doctoral student that has graduated from the Department of Economics has obtained a position working as a professional economist. Many have gone on to careers in academic institutions. Others have pursued careers in public policy or at premier liberal arts colleges. First, our students are well trained. Michigan students leave the program with expertise in economics as it is practiced in the top research and teaching institutions in the world. Second, we run a comprehensive placement service that prepares students for interviews, seminars, and campus visits. Third, preparation for the job market is a multi-year process that begins the day students enter our program.
