Applied Economics, PhD

Combining the faculties of the departments of Real Estate and Business Economics & Public Policy, Wharton’s Applied Economics program leverages the breadth and depth of its faculty to prepare students for careers doing frontier theoretical and empirical research. Students can focus on a variety of areas including Behavioral Economics, Development Economics, Energy and Environmental Economics, Industrial Organization, Market Design, Public Economics, Risk Management, and Urban Economics and Real Estate. Students may also develop an inter-disciplinary focus by taking courses and working with faculty in some of the other departments at Wharton such as Finance, Health Care Management, Management, and Marketing.

View the University’s Academic Rules for PhD Programs.

Required Courses

The course of study for the Ph.D. in Applied Economics requires the completion of 15 graduate course units. The common core consists of 3 theory courses and 3 statistics/econometrics courses. Students are also expected to master two field areas by passing two courses in each (total of 4 courses units). The remaining course units necessary to achieve 15 are split between the mandatory graduate student research seminars and other electives.

Core Requirements
Microeconomic Theory I
Microeconomic Theory II
Select one of the following:
Macroeconomic Theory I
Macroeconomic Theory II
Intertemporal Macroeconomics and Finance
Econometrics/Statistics 1
Select three of the following:
Econometrics I: Fundamentals
Empirical Methods in Corporate Finance
Econometrics III: Advanced Techniques of Cross-Section Econometrics
Econometrics II: Methods & Models
Empirical Public Policy
Numerical Methods in Economics
Field Requirements
Select four courses
Development Economics
Development Economics
Industrial Economics and Business Regulation
Industrial Organization and Competition Policy
Special Topics in Health Economics: The Industrial Organization of Health Care
Empirical Methods for Industrial Organization
Market Design
Market Design
Public Economics and Political Economy
Public Economics: Social Insurance and Government Expenditures
Economics of Health Care and Policy
Public Economics
Public Economics II
Urban Economics and Real Estate
Urban Real Estate Economics
Advanced Topics in Urban Economics
Advanced Real Estate and Urban Economics
Behavioral Economics
Experimental Economics
Foundations of Decision Processes
Experimental Economics
Workshops 2
Research Seminar
Applied Economics Seminar
Select three additional electives

Students may also take STAT 9210, STAT 5200, and STAT 5210.


Taken in the Spring and Fall of years 2 and 3 for 0.5 cu each

The degree and major requirements displayed are intended as a guide for students entering in the Fall of 2023 and later. Students should consult with their academic program regarding final certifications and requirements for graduation.