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FREQUENTLY ASKED QUESTIONS
How do I apply?
Fill out the online application. https://www.applyweb.com/apply/mitg/econinst.html
The application is open from September 15th – December 15th.
What are the application requirements?
- Department of Economics Online Application
- $75 Application Fee
- Official College Transcript(s)
- Three Letters of Recommendation
- GRE General Test Score
- TOEFL OR IELTS Test Score for International students whose native language is not English (one or the other, not both)
When is the application deadline?
The Department of Economics must receive all application materials no later December 15th for September matriculation.
Can the application fee be waived or deferred?
No action will be taken on your application until the fee is paid. We understand the expense of applying to graduate programs; however, the application fee cannot be waived or deferred except in the case of minority US citizen applicants. In all other cases, MIT will not allow us to consider an application unless accompanied by the application fee. If you are a minority US citizen, you may write a letter explaining why you are unable to pay this fee and submit to econ-admit@mit.edu before December 1. A reply will be received in time for applicants to meet the December 15th application deadline.
I applied last year; how can I reapply?
In order to reapply, you must provide at least one new recommendation letter as well as the standard application forms, transcripts, etc. The application fee is NOT waived for applicants who are re-applying.
What degree do I need to apply? Must my undergraduate coursework be in economics? A bachelor’s degree (or equivalent) is required. It is not essential that the bachelor’s degree be in economics, but some preparation in undergraduate economics, especially in economic theory, is a necessity, as is a working knowledge of calculus.
Is it required or recommended that I complete any specific undergraduate coursework?
No specific coursework is required. Some students come to us after finishing master’s degrees in economics, some come from undergraduate economics program, and some have degrees in some other field. What we look for depends on the student’s background. Successful candidates whose prior background is primarily in economics have typically excelled in advanced undergraduate or graduate courses and taken math at least through linear algebra. Many have taken real analysis or some other advanced proof-oriented course, though this is not necessary. For candidates who were not economics concentrators we look for evidence of exceptional performance in their prior field of study, strong technical skills, and some economics background. It would be unusual for us to accept a student who had not taken intermediate microeconomics.
May I apply to other departments or programs outside of the Economics department?
Yes, but keep in mind that the applications are independent of each other. We do not share supporting materials with other departments. A separate fee is required for each application.
Can I visit your department or contact faculty before being admitted?
No. Official department visits, including faculty meetings, are arranged after students have been admitted. However, you are more than welcome to arrange a tour of the MIT campus through the MIT Information Center.
Whom do I contact if I have questions about the application process?
Please inquire via email to econ-admit@mit.edu
Transcripts and Letters of Recommendation
To what address should I send my transcripts?
Your online application will require you to attach a scanned copy of your transcript(s). You should also mail a hard copy(ies) to our office:
Department of Economics
Graduate Admissions
Massachusetts Institute of Technology
77 Massachusetts Avenue, E52-391D
Cambridge, MA 02139
Do I have to fill out the "Subjects Taken Form" on the application?
Yes, this section is required. We see transcripts from thousands of schools from all over the world. It is extremely helpful for us to review applicants' coursework, textbooks used and grades in a standard format.
Is a minimum GPA required to apply?
Since many schools do not calculate GPAs, we do not impose a set minimum. However, the applicant pool is academically strong and very competitive.
May I submit more than three letters of recommendation?
The online application will allow you to submit three recommendation letters. If you are compelled to submit a fourth recommendation letter (not required or recommended due to the high volume of application materials received by the committee), please always use the MIT Standard Evaluation Form found here:http://web.mit.edu/admissions/graduate/pdfs/MIT_Standard_Eval.pdf. Have your recommender email the fourth letter directly to econ-admit@mit.edu (with subject line: Recommendation letter for Last name, first name).
Is the Graduate Record Examination (GRE) mandatory?
Only the general portion of the GRE is required for admission to the department. However, you can take the optional subject/advanced section in your undergraduate major if you feel it will give the Admissions Committee more insight into your qualifications. GRE scores are valid for 5 years.
How do I report my GRE scores/What are the reporting codes?
GRE scores should be sent directly to MIT from ETS. MIT's school code for the GRE is 3514. The code for the Department of Economics MIT is 1801.
When is the last date I can take the GRE?
Because ETS takes 2-3 weeks to report scores, applicants are expected to take the GREs by November 30 to allow for proper reporting time. Applications will not be reviewed until your scores are received.
What is the minimum score for the GRE?
There is no minimum score for the GRE. That being said, we will take this opportunity to say that admission to our program is highly competitive; our admissions committee is most interested in applicants with the highest quantitative scoring.
Who is required to take the TOEFL or IELTS?
You are required to take the TOEFL or IELTS if your first language is not English. MIT's policy is to waive the TOEFL or IELTS requirement for international non-native speakers of English who have received an undergraduate degree from a four-year accredited school within the United States, or a similar three or four-year program where English is the language of instruction in Great Britain, Canada, India, or Australia, etc. TOEFL and IELTS scores are valid for two years.
How do I report my TOEFL or IELTS scores/What are the reporting codes?
TOEFL or IELTS scores should be sent directly to MIT. MIT's school code for the TOEFL is 3514. The code for the Department of Economics at MIT is 84. IELTS does not require a code. Just write "Department of Economics, Massachusetts Institute of Technology". No address is required as scores are reported electronically.
When is the last date I can take the TOEFL or IELTS?
Applicants are expected to take the TOEFL or IELTS by November 30th to allow for proper reporting time. Applications will not be reviewed until your scores are received.
What is the minimum requirement for the TOEFL?
Paper base: 577
Computer Base: 250
Internet Base: 100
What is the minimum requirement for the IELTS?
The minimum requirement is 7.
Can you give me an idea of my chances for admission, based on GRE scores or Class Rank, for example?
We can make no preliminary evaluation based on one or two qualifications. The Admissions Committee carefully reviews the entire application (recommendations, essay, grades, test scores, previous experience, etc.) in making its decisions. The Department looks for academic and research potential, focusing primarily on coursework, grades and letters of recommendation.
Will the Department keep me informed of my application status?
Once your application is processed you will receive a welcome email, providing access to your application checklist. You may check the status of your application materials via this online portal. Please keep in mind that there is always some delay between the receipt of materials and the status change of those materials in your checklist. We appreciate your patience during this busy time.
When can I expect to be notified about an admission decision?
Most notices of acceptance are sent out by March 14, although some may be sent as late as April 1; candidates have until April 15 to notify the Department of their decisions. Information about decisions cannot be given over the phone.
Can an applicant who was not accepted into the program request information as to why they were not accepted?Due to the large volume of qualified applicants to the Economics graduate program and the small number of students accepted, we are unable to give specifics as to why an application was denied.
How many applications does the department receive each year, and how many applicants are admitted?
The Department receives, on average, about 700 applications each year. About 40 students are admitted, and 20-25 matriculate.
What portion of graduate students are international? Are there any special considerations or requirements for international applications?
A significant portion, usually about half, of admitted students are international. No, there are no special considerations or requirements for those applications.
How long does it take to complete the PhD program?
The duration varies depending on the individual, but on average the program is completed in five years, with the first two years being required coursework and the latter three devoted to field research and dissertation writing.
May I transfer credits from another master's or PhD program I have attended?
No, we do not accept transfer credits. However, the Department offers a system of waiver exams for Micro Theory, Macro Theory, and Statistics.
Is an accepted student allowed to defer?
Deferrals are handled on an individual basis. The maximum deferral granted is two years. Any funding offer may not be deferred.
Do you offer a master’s degree?
No, we only offer a Ph.D.
Do you offer a distance learning degree, a part-time degree program, or part-time non-degree study?
We offer neither a distance learning degree nor a part-time degree program. Part-time non-degree study is considered “Special Student status” by MIT and is overseen by the Graduate Students Office. Please see their website for more information.
FINANCIAL AID
Does the program offer financial aid? Are international students eligible?
Yes, financial aid is offered, and international students are eligible. Full scholarship offers include full tuition for the academic year, twelve-month individual health insurance, and a stipend/salary to cover living expenses for the nine-month academic year. Continuation of financial aid for years two through five is dependent on satisfactory academic progress. In the third through fifth year, the financial aid typically takes the form of a Teaching Assistantship.
What if I have some partial outside funding?
Such situations are dealt with on a case-by-case basis. Generally, if the Department can offer financial support it will offer a supplement to bring a student’s funding up to the equivalent of our full scholarship offer. Having outside funding does not guarantee admittance to the program.
Does my stipend cover health insurance?
Your mandatory health fee is covered by your award (and is not taken out of your stipend) and includes Accident and Hospitalization Insurance. You will receive this insurance unless you can demonstrate that you have equivalent insurance through another program, in which case you must complete a waiver form available at MIT Medical.
Does the Economics department fund all graduate students?
No, the department does not have sufficient financial resources to fund all admitted graduate students. We admit some qualified applicants without providing them with funding. We hope that students in this situation are able to find other funding sources, but recognize that unfortunately this will sometimes not happen.
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