--- title: "The Economy of Everything: Why You Need a PhD in Economics" description: Earning a PhD in Economics means you have completed the highest level of education possible, thereby opening up opportunities for any job in a the field. image: https://grad.smu.edu/hubfs/31107D_036-2.jpg --- [Skip to content](https://grad.smu.edu/the-economy-of-everything-why-you-need-a-phd-in-economics#main-content) [![SMU logo](https://grad.smu.edu/hs-fs/hubfs/SMU%20logo.png?width=150&height=44&name=SMU%20logo.png "SMU logo")](https://www.smu.edu/) [EXPLORE SMU](https://www.smu.edu/aboutsmu) ## [Moody School of Graduate and Advanced Studies](https://www.smu.edu/moody/) - About Show submenu for About - [About](https://www.smu.edu/moody/about) - [Mission and History](https://www.smu.edu/moody/about/mission-and-history) - [Moody Foundation Gift](https://www.smu.edu/moody/about/moody-foundation-gift) - [Charter](https://www.smu.edu/-/media/Site/Moody/graduate/Moody-School-Charter-Summer-2021-Final.pdf) - 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[Faculty & Staff](https://www.smu.edu/infofor/faculty-staff) # The Economy of Everything ## Why You Need a PhD in Economics [Download the Full Guide](https://grad.smu.edu/the-economy-of-everything-why-you-need-a-phd-in-economics#download-the-guide) ## How to Become an Economist: PhD Required Earning a PhD in Economics means you have completed the highest level of education in the discipline, thereby creating nearly unlimited opportunities for any job in a related field.  As a PhD economist, you'll have the skills to analyze real-world economic data with rigorous statistical techniques, critically assess the economic implications of public policy, and understand the complex relationships behind key macroeconomic variables like GDP growth, interest rates and inflation.  The Department of Economics at SMU is highly ranked among economics departments in the United States and has prepared PhD candidates for careers as economists in both academic and non-academic positions for more than 55 years.  If you want to become a PhD Economist, this guide will help you understand SMU's unique approach to the [study of economics](https://grad.smu.edu/graduate-studies-in-economics) and prepare you to apply to our PhD program with confidence.  ### Why You Need a PhD in Economics ![Screen Shot 2022-05-05 at 10.48.14 AM](https://grad.smu.edu/hs-fs/hubfs/Screen%20Shot%202022-05-05%20at%2010.48.14%20AM.png?width=300&name=Screen%20Shot%202022-05-05%20at%2010.48.14%20AM.png) We'll email you a PDF of the eBook for your reference as you apply to graduate school. ### Download The Guide! ### What Can I Do with a PhD in Economics? Economics PhDs often work in complex, high-profile positions in the corporate sector or government and frequently explore regulatory, strategic or public policies. [Our resource expands](https://grad.smu.edu/the-economy-of-everything-why-you-need-a-phd-in-economics#download-the-guide) on both the academic and non-academic career paths for PhD economists. [Access the Guide](https://grad.smu.edu/the-economy-of-everything-why-you-need-a-phd-in-economics#download-the-guide) ![31107D_055-1-1](https://grad.smu.edu/hs-fs/hubfs/31107D_055-1-1.jpeg?width=1244&name=31107D_055-1-1.jpeg) ![31107D_050-1](https://grad.smu.edu/hs-fs/hubfs/31107D_050-1.jpg?width=1200&name=31107D_050-1.jpg) ### Is a PhD in Economics Worth It? Pursuing a PhD in economics is a big investment. Even though you will have a full tuition waiver and a stipend to cover your cost of living, you must also consider the cost of lost wages during your education. [This guide](https://grad.smu.edu/the-economy-of-everything-why-you-need-a-phd-in-economics#download-the-guide) will help you calculate the ROI of your PhD in Economics and determine if it's the right choice for you compared to a master's in economics.  [Download Our Guide](https://grad.smu.edu/the-economy-of-everything-why-you-need-a-phd-in-economics#download-the-guide) ## Request More Information Would you like to learn more about your graduate program of interest or available fellowships for PhD student? 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