A joint degree offered by the Department of Economics in the Faculty of Arts and Sciences and the Harvard Business School, the PhD in business economics combines economic analysis with the practical aspects of business. This degree is primarily intended to prepare students for careers in research and teaching in business administration and related fields of economics. The general management approach of the Harvard Business School is an important ingredient in the program.
The program can be distinguished from the Harvard PhD in economics by its greater emphasis on business fields and its focus on the use of economic analysis and statistical methods in dealing effectively with management problems in these applied business fields.
Successful candidates have strong records of academic performance in rigorous programs and exemplary GRE General Test or GMAT scores, especially in the quantitative area. Please note that, when possible, the GMAT is preferred. They are not required to hold a degree in economics, though prior coursework is strongly recommended. Furthermore, they generally have an effective working knowledge of college-level calculus and linear algebra.
Adequate command of spoken and written English is required for admission. Non-native English speakers must take the TOEFL, unless they have obtained the equivalent of a US bachelor degree from an institution at which English is the language of instruction. The committee prefers scores of at least 100 on the Internet based test (IBT) of the TOEFL.
Further information about the program is available on the Harvard Business School Website. Applications for admission may be obtained from the Graduate School of Arts and Sciences Admissions Office or completed online. Questions regarding the program should be directed to:
Harvard Business School
Doctoral Programs Office
All incoming students receive a merit-based award, regardless of need. This includes a fellowship for tuition and health fees, as well as a stipend for living expenses ($38,700 in 2012-2013).
During the first year, students take courses in graduate economic theory (i.e., microeconomics, general equilibrium, and macroeconomics) to prepare for the written General Examination. All courses should be completed with a grade of B or better. Most students take an advanced course in statistics and a basic graduate course in econometrics. This is the same first-year program that would be undertaken by a candidate for the PhD in economics.
To complete the PhD in business economics, students must fulfill the following requirements:
• Courses in economic theory
• Five MBA courses for students without an MBA degree
• Courses in quantitative methods
• Written General Examination in economic theory
• Oral special field examination
In consultation with faculty advisors, students engage in a customized field experience as part of Business Education for Scholars and Teaching requirement.
Students may specialize in fields such as: capital markets and financial institutions, corporate finance, corporate governance, competition and strategy, accounting and control, international business, production and innovation, negotiation and decision-making, game theory, organizational economics, business organization, marketing, transportation and logistics, agribusiness, and business and economic development.
Each field is conceived as a synthesis of some field or area in business administration with those areas of economics that contribute appropriate theoretical and methodological tools. Each student takes an active role in selecting and defining the combination of subjects that make up the special field.
Selected PhD Dissertation Titles
"Essays on the Industrial Organization of Health Care"
"Social Forces and Public Good Provision"
"Matching Models of Markets"
"Essays in Microeconomic Theory"
"The Industrial Organization of Health Insurance Markets"
"Effects of the Organization of Financial Markets"
"Capital Market Imperfections and Corporate Finance"
"Essays on Networks and Markets 1) Community Structure and Market Outcomes: Towards a Theory of Repeated Games in Networks, 2) Effective Word-of-Mouth: Reputation Networks and Market Struc ture, 3) Social Networks and Unraveling in Labor Markets"
"Malnutrition, Infectious Disease, and Economic Development"
"Individuals and Corporate Decisions"
Jerry R. Green, Chair, John Leverett Professor in the University; David A. Wells Professor of Political Economy. Microeconomic theory.
Philippe Aghion, Robert C. Waggoner Professor of Economics. Economic theory, development, industrial organization, economic growth, contract theory.
Bharat Anand, Professor of Business Administration. Applied and empirical industrial organization and corporate strategy.
Nava Ashraf, Assistant Professor of Business Administration. Decision making, economic development, and field experiments.
Malcolm Baker, Professor of Business Administration. Interaction between corporate financing decisions and market efficiency.
Carliss Y. Baldwin, William L. White Professor of Business Administration. Finance and organizational economics.
Effi Benmelech, Frederick S. Danziger Associate Professor of Economics. Corporate finance, economic history, terrorism, financial contracting, bankruptcy, securitization.
John Y. Campbell, Morton L. and Carole S. Olshan Professor of Economics. Stock prices, term
structure of interest rates, and aggregate consumption in relation to economic fluctuations.
Lauren Cohen, Associate Professor of Business Administration. Empirical asset pricing, behavioral finance, and portfolio choice.
Peter Coles, Assistant Professor of Business Administration. Auctions, experimental economics, and market design.
C. Fritz Foley, Associate Professor of Business Administration. International corporate finance.
Kenneth A. Froot, Andre R. Jakurski Professor of Business Administration. International finance, distribution of insurance risk, risk capital, and capital allocation.
Drew Fudenberg, Frederic E. Abbe Professor of Economics. Game theory and microeconomic theory.
Stuart Gilson, Steven R. Fenster Professor of Business Administration. Valuation, corporate finance, and corporate restructuring.
Paul A. Gompers, Eugene Holman Professor of Business Administration. Private equity funds, private firms, and long-run performance evaluation for newly public companies.
Brian J. Hall, Albert H. Gordon Professor of Business Administration. Compensation and incentive strategy, corporate governance, corporate finance, and organizational economics.
Samuel Hanson, Assistant Professor of Business Administration. Corporate finance, behavioral finance, and asset pricing
Oliver S. Hart, Andrew E. Furer Professor of Economics. Theory of the firm and contract theory.
Paul M. Healy, James R. Williston Professor of Business Administration. Corporate financial reporting and analysis and corporate finance.
Richard Hornbeck, Assistant Professor of Economics. Economic history and development.
Victoria Ivashina, Associate Professor of Business Administration. Applied corporate finance, credit markets.
Dale W. Jorgenson, Samuel W. Morris University Professor. Econometrics.
Robert S. Kaplan, Baker Foundation Professor. Link between cost and performance measurement systems with strategy implementation and operational excellence.
Tarun Khanna, Jorge Paulo Lemann Professor of Business Administration. Corporate strategy of diversified business.
Ian Larkin, Assistant Professor of Business Administration. Employee decisions and firm performance.
Josh Lerner, Jacob H. Schiff Professor of Investment Banking. Venture capital, private equity, and intellectual property.
Nathan Nunn, Paul Sack Associate Professor of Political Economy. International trade, economic development, economic history.
Felix Oberholzer-Gee, Andreas Andresen Professor of Business Administration. Strategy.
Ariel Pakes, Steven McArthur Heller Professor of Economics. Industrial organization and econometrics.
Krishna G. Palepu, Ross Graham Walker Professor of Business Administration. Strategy, valuation, and disclosure.
Jan Rivkin, Bruce V. Rauner Professor of Business Administration. Interactions across functional and product boundaries within a firm.
Julio J. Rotemberg, William Ziegler Professor of Business Administration. Sources of economic fluctuations, emphasizing effects of monetary policy, fiscal policy, and oil price changes.
Richard S. Ruback, Willard Prescott Smith Professor of Corporate Finance. Applied corporate finance.
David Scharfstein, Edmund Cogswell Converse Professor of Finance and Banking. Entrepreneurship and venture capital; corporate resource allocation; and financing and management of biotechnology.
Andrei Shleifer, Professor of Economics. Applied theory, corporate finance, and economic transition.
Jeremy C. Stein, Moise Y. Safra Professor of Economics. Corporate finance, behavioral finance, money and banking.
Adi Sunderman, Assistant Professor of Business Administration. Corporate finance, asset pricing, and financial intermediation.
Luis M. Viceira, George E. Bates Professor. Investments and asset prices.
Dennis Yao, Lawrence E. Fouraker Professor of Business Administration. Incentive and information problems affecting firms.