Tips and Strategies for Success in Your Economics PhD (2024)

Making the decision to enrol in an economics PhD is a hugely exciting and eye-opening venture. The study of economics is far-reaching and all-encompassing, capturing the details of the important global decisions that are made on a daily basis, and throughout history. Although many of these may be financial decisions, factors like global development economics, the actions and policies of the world bank, and economic history will also play a part in your studies.

If your research interests are more focused on marketing, you may also apply yourself to studying empirical microeconomics. If you’re a student looking to pursue studies in an Economics PhD, here are our top tips and tricks for success in your studies.

Having a daily routine is incredibly important when you’re studying a doctoral program. As the program can add to a potentially already hectic schedule, creating a routine can help to give your day some structure and organise your time better.

Whether you arrange study time at the library with your fellow PhD students, spend time doing independent research or have a formal placement completing teaching and research, routine is essential for success with a doctoral program. You may also find that there are other students locally who are studying in the same or similar faculty to yourself.

Whether you’re pursuing a PhD relating to financial economics, labor economics or environmental economics, you’re bound to find similarities with other students, and through this you may form lasting connections with both home and international students on the graduate program or in research centers. In the event that you are completing an online course for your PhD program with Signum Magnum College, it might be useful to set up some virtual meetings with others in a similar department or research positions. Positive personal relationships can have a profound affect on your academic work, with a recent study showing that “positive relationships have been associated with higher levels of academic achievement”.

Setting yourself attainable targets can help to keep you on track for success in completing your PhD program. As your course will likely mostly consist of independent research, you might find it difficult to keep yourself motivated. Many students will struggle with feeling overwhelmed by the workload of a PhD program, but setting regular targets will enable you to feel as though you are regularly making small achievements and continually making progress in your course work.

You can track your progress with a diary, online calendar or checklist depending on which methods are most useful for you. You may also find it helpful to discuss your organisational and target tracking methods with other faculty members to compare and contrast methodology, and hold each other accountable for deadlines.

Although completing a PhD program can be incredibly time-consuming, it’s also important to still lean into your hobbies and interests to give yourself some important break time from intensive research.

Taking a break from your research projects and qualifying examinations to embrace your other passions can keep your mental health strong and stable, and improve concentration and general wellbeing. You’ll be surprised how much you can achieve with a fresh pair of eyes!

Whether you’re a fan of sports or prefer more introverted hobbies like reading or crochet, taking that time out for your mental wellbeing will provide you with the stamina to push through a dissertation proposal, or essential research.

Taking on graduate school is a large commitment, there’s no doubt about it. So in the event that you need to fall back on some support, it’s important to get help as soon as you need it from a faculty member at your chosen education provider.

Taking on extra commitments, for example, rigorous training in an industrial organization on top of your regular work, or working with teaching assistants to gain valuable lecturing experience can increase your need for support. If you have qualifying exams to prepare for, whether it’s for economic theory, financial economics, microeconomic theory or empirical microeconomics to name a few, you’ll want to ensure that you can manage the major areas of your field requirements.

If you need support for the duration of your time in academia, reaching out to your department could make all the difference. It’s also a good idea to build a support system around you. Consider talking to your friends and family about your academic journey, and lean on them if you find that you’re struggling.