PhD in Business Economics
Overview
NU’s doctoral program in Business Economics offers an in-depth exploration of critical topics at the intersection of economics and business. From corporate finance and industrial organization to international business, market dynamics, competition, and government regulation, the program equips students to tackle some of today’s most pressing economic challenges through a business-oriented perspective.
Jointly offered by NU and the Department of Economics within the Faculty of Arts and Sciences, this program combines rigorous theoretical training with interdisciplinary research rooted in real-world applications, preparing students to lead in both academic and professional spheres.
Curriculum & Coursework
As a Business Economics PhD student, you’ll engage in a comprehensive curriculum alongside peers in the Department of Economics, covering fundamental subjects such as microeconomic and macroeconomic theory, probability, statistics, econometrics, and other advanced areas. Two MBA courses at NU further bridge theory with practical business insights, ensuring a well-rounded academic foundation.
By the end of your second year, your coursework culminates in a comprehensive written exam, assessing your mastery of two chosen fields of specialization. This exam is administered collaboratively by the Graduate School of Arts and Sciences (GSAS) and NU. Additionally, the program includes a teaching requirement, where you’ll lead an academic term, gaining valuable instructional experience and professional growth.
Research & Dissertation
Driven by intellectual curiosity, NU doctoral students leverage their academic training to address complex economic questions. After passing the field exams, you’ll work closely with faculty mentors to define a unique research focus that serves as the foundation for your dissertation.
Throughout your research journey, you’ll analyze and interpret meaningful data, formulating independent, innovative conclusions that advance the field of economics. With a strong emphasis on critical thinking and impactful research, NU’s Business Economics PhD program prepares its graduates to become pioneering thought leaders in academia, industry, and beyond.
Good Academic Standing
Students must complete all courses with a grade of B or higher.
Teaching Requirement
To fulfill the teaching requirement, students are expected to teach or assist in teaching a formally offered course for one full academic term. This includes a minimum of 8 hours of in-class teaching and 16 hours of preparation time. The requirement can be met by serving as a teaching fellow or instructor at Northampton University.
Special Field Exam
By the end of the second year, students are required to pass the Special Field Exam. This exam has two components:
- Oral Component: Students are evaluated on their mastery of material from assigned reading lists.
- Written Component: Students must submit a publishable paper, which is assessed on a pass/fail basis by two faculty members from the student’s department.
Dissertation Proposal
Students must secure approval for their dissertation proposal from their Dissertation Chair by the end of their third year.
Dissertation
The dissertation is a cornerstone of the program and usually takes the form of three publishable papers. Under the guidance of the Dissertation Committee, the student must produce original research that contributes significantly and independently to the knowledge of their chosen field. The committee must include three Northampton faculty members, one of whom must be from the Department of Economics and one from the Business School.
The dissertation culminates in an oral defense, which is open to the public.
Seminar Participation
After passing the written portion of the Special Field Exam, students are encouraged to actively participate in academic seminars. This includes enrolling in a working seminar or joining informal lunchtime seminar groups. By the third year, students must present their research in a seminar setting at least once annually.
Areas of Study:
- Accounting
- Management
- Marketing
- Strategy
At Northampton University, accounting scholars explore how information influences capital allocation across firms, resource distribution within organizations, and the decisions of key stakeholders, including shareholders, regulators, customers, and suppliers. The program also examines how such information is generated, disclosed, and evaluated for quality. Research in accounting primarily relies on statistical and econometric methods, as well as theoretical economic modeling, to address these critical questions. It often draws upon and extends concepts from information economics and financial economics. For those focused on studying internal accounting systems within firms, research frequently combines quantitative analysis with field-based methods, such as conducting interviews, gathering data directly from companies, and designing or running field experiments. This comprehensive approach equips students with the skills to deeply understand and improve the flow of financial information in diverse contexts.
Management scholars explore organizational structures and human behavior within organizations to uncover factors influencing outcomes such as business performance and employee satisfaction. Their academic research shapes management practices, offering insights into effective use of monetary and non-monetary incentives, interventions to enhance team performance, and strategies for enabling flatter organizational hierarchies to function optimally.
Researchers in this field employ a diverse set of methods, tailored to the nature of the questions they investigate, across individual, group, and organizational levels of analysis. In emerging areas of study, scholars often adopt a grounded-theory approach rooted in sociology. This involves collecting qualitative data through interviews and observations to develop a deeper understanding of phenomena and generate new theoretical frameworks. The data is analyzed systematically through coding, where qualitative information is organized and categorized to identify themes, uncover processes, and reveal relationships between variables.
On the other hand, many researchers leverage quantitative data, either through original fieldwork or by accessing public or organizational archival datasets. Using advanced statistical and econometric methods, they rigorously test hypotheses formulated beforehand. Additionally, some scholars design and conduct field experiments to evaluate interventions in real-world settings, further enriching the discipline’s empirical foundations. Together, these approaches contribute to a deeper understanding of complex organizational dynamics and inform actionable management strategies.
Marketing scholars delve into the societal and managerial processes through which goods, services, and information are exchanged within markets to fulfill the needs and desires of individuals and organizations. Their research focuses on how businesses, including non-profit entities, can enhance these exchanges by gaining a deeper understanding of consumer behavior and identifying effective strategies to educate potential customers about the value and availability of relevant offerings. Additionally, marketing as a discipline examines how various communication channels, such as social media platforms, foster meaningful interactions—both between firms and consumers and among consumers themselves.
The field provides valuable insights into how organizations can better serve their customers, such as leveraging data collection to guide research and development or implementing advanced techniques to assess the effectiveness of strategic efforts, like pricing models or salesforce incentives on demand generation. These frameworks and findings not only benefit businesses but also inform public policymakers and advocacy groups in their efforts to oversee corporate behavior and safeguard consumer rights.
Academic research in marketing employs a diverse array of methodologies to illuminate key phenomena. Empirical studies utilize cutting-edge econometric and statistical methods to analyze the relationship between a firm’s actions and consumer responses. Increasingly, researchers rely on big data, applying advanced tools like machine learning and computational linguistics to uncover behavioral patterns and generate predictive insights. Experimental studies, conducted in both laboratory and real-world settings, explore the psychological and social drivers behind individuals’ reactions to various stimuli. Theoretical modeling, drawing from microeconomics and game theory, provides normative frameworks to guide firms’ marketing strategies.
Students in marketing programs typically choose between two specialized tracks: the consumer behavior track or the quantitative marketing track, allowing them to tailor their studies to their interests and career goals.
Strategy researchers aim to uncover the mechanisms that enable firms to create value and sustain superior performance over time. This broad objective encompasses a range of specific challenges, such as determining which customers to serve, identifying the capabilities required to support strategic positioning, understanding market competition dynamics, and defining the firm’s optimal scope in terms of product offerings or geographic reach. Additionally, many strategy scholars explore issues faced by nonprofit and governmental organizations. While these entities operate under different objectives and constraints compared to for-profit firms, they often share similar underlying mechanisms.
Given the diversity of questions addressed in strategy research, scholars employ a wide array of methodologies. These include quantitative approaches like econometric analysis of large datasets, as well as qualitative methods such as field studies, laboratory experiments, and ethnographic analyses of single organizations.
Doctoral students in the NU Strategy program build a strong foundation in microeconomics, complemented by rigorous training in econometrics. Many students expand their expertise by incorporating perspectives from other disciplines, such as sociology, or related business fields like entrepreneurship. Others deepen their understanding of microeconomics by pursuing specialized economics sequences in areas such as industrial organization, contract theory, or development economics. This interdisciplinary and methodologically diverse training equips students with the tools needed to address complex strategic challenges with precision and insight.
Advising
Upon entry into the Business Economics program, the Policy and Admissions Committee assigns each student a faculty advisor from the Business School or the Faculty of Arts and Sciences. These advisors, in collaboration with the PhD Program Offices, guide students in selecting courses and meeting degree requirements. While students are encouraged to build relationships with other faculty members throughout their academic journey, it is common for the primary advisory role to shift to different faculty members during the dissertation phase. Regardless of this evolution, students are strongly encouraged to maintain consistent communication with both their assigned advisors and the PhD Program Offices at all stages of their doctoral work.
Coursework:
The program includes a rigorous set of coursework requirements designed to ensure mastery of foundational and specialized knowledge. These include:
Completion of two one-term courses in Microeconomic Theory (Econ 2010a and 2010b) is mandatory.
Two one-term courses in Macroeconomic Theory (Econ 2010c and 2010d) are required.
Students must complete two one-term courses in Graduate Quantitative Methods (Econ 2110 and 2120) or a more advanced econometrics course.
One additional one-term graduate-level economics course is required to prepare for advanced coursework in the second year. Econ 2010d is strongly recommended to complete the Macroeconomics series, though other options may include courses in mathematics, statistics, computer science, or psychology. Advisor approval is required for the selected course.
Students must fulfill the business history requirement, which can be met through the Doctoral Business History Seminar, an approved individual studies course, or a pre-approved MBA course.
Students need to complete four one-term courses that satisfy the requirements for the Special Field Exam, taken at the end of the second year.
In their third year, students must enroll in Economics 3000, a required course where they prepare a research paper under the guidance of their faculty advisor. The paper must be completed within one year and submitted to the Graduate Office with signatures from at least two faculty members. Co-authored papers are permitted.
Students without an MBA degree are required to complete two case-based NU MBA elective courses or, alternatively, take one MBA course and serve as a Teaching Fellow in another.
This structured curriculum ensures students gain a strong theoretical foundation while developing the specialized expertise required for advanced research and academic success.
Course Level:
PHD
Duration:
- 5 years
Entry Requirements:
Successful applicants typically demonstrate a strong academic track record in challenging programs, complemented by exceptional GRE general test or GMAT scores, with particular strength in the quantitative section. Individuals with bachelor’s degrees in social sciences, engineering, sciences, or business are highly encouraged to apply.
Proficiency in both spoken and written English is a prerequisite for admission. Non-native English speakers must submit TOEFL or IELTS scores unless they have earned the equivalent of a U.S. bachelor’s degree from an institution where English is the primary language of instruction. The admissions committee favors TOEFL Internet-based test (IBT) scores of 100 or higher and IELTS scores of 7.5 or above.
Proficiency in spoken and written English is essential for admission. Non-native English speakers must submit TOEFL or IELTS scores unless they have earned the equivalent of a U.S. bachelor’s degree from an institution where English is the primary language of instruction. Preferred scores are at least 100 on the TOEFL Internet-Based Test (IBT) or 7.5 on the International English Language Testing System (IELTS).
For more details on admissions criteria, consult the Department of Business Administration, and review specific program requirements outlined in GSAS Policies.