1.
What is the deadline for application?
- Graduate programs begin Fall semester only. While there is no firm deadline for application submission, WE STRONGLY RECOMMEND THAT APPLICATIONS BE COMPLETED BY DECEMBER 15th PRIOR TO THE FALL SEMESTER OF PLANNED ENROLLMENT. Early submission of applications is especially important for international applicants. We cannot guarantee that applications received after January 31 will be considered.
2.
What are my chances of funding?
- There is no single, sufficient condition for admission with financial aid. We look at a portfolio of items that include (not in any order): GRE scores (especially the Quantitative); transcripts; grades in math and economics courses; letters of recommendation; and the written statement of purpose. Each year, out of about 250- 300 applicants, we offer admission with funding to approximately 35 Ph.D. applicants and approximately 15 M.S. applicants.
3.
What undergraduate classes should I take?
- The program's economics courses are very quantitative. Students who do well typically have a strong background in math (calculus, including multi-variate calculus, and linear algebra) and statistics, as well as intermediate microeconomic and macroeconomic theory courses. Math courses that emphasize logic and proofs (e.g. real analysis, abstract algebra, topology) are especially recommended for Ph.D. applicants.
4.
What graduate exams do I need to take?
- The GRE test is required for admission to the Department of Economics. To avoid problems, applicants should take the GRE as early as possible. Information on the GRE can be obtained by visiting their website at http://www.gre.org/ttindex.html. The Institution Code for Iowa State University is R6306. The Major Field Code is 0101 for agricultural economics and 1801 for economics.
5.
Can I have the TOEFL waived?
- The TOEFL (or IELTS) test is required for all students whose native language is not English. The requirement will be waived if you already have a U.S. college degree. The test scores expire after two years. If the University receives the official scores before they expire, they will accept them regardless of the actual enrollment date. (For example, if a student's TOEFL score expires in May 2009 and he or she submits an application in December 2008, the university will accept the score even though it will be expired when the student starts classes in August 2009.)
6.
What are the benefits of an assistantship?
- A 1/2 time graduate assistantship allows out-of-state students to be assessed Iowa-resident tuition charges. Students receive health insurance coverage and a monthly stipend. In addition, Ph.D. students with 1/2 time appointment will receive a 100% tuition scholarship, completely offsetting the cost of tuition. M.S. students receive a 50% tuition scholarship. Tuition scholarships are only given to those students who have a 3.0 or higher GPA. More information can be found on the Registrar's Web site, http://www.iastate.edu/~registrar/fees/.
7.
How many new graduate students are admitted each year?
- Each year we make funded offers of admission to about 35 Ph.D. applicants and about 15 M.S. applicants, with the goal of enrolling 16-18 new Ph.D. students and about 8 new M.S. students.
8.
What is the diversity of current Economics Graduate Students?
- In Fall 2007, there were 111 graduate students in Economics: 60% male, 40% female; 31 countries represented; 25 M.S. students, 86 Ph.D students.
17% of the students are from the USA, 41% of the students are from People's Republic of China, and 41% of the students are from other countries.
9.
What kinds of graduate assistantships are available?
- Both teaching and research assistantships are available although it is much more common for first-year students to be assigned to teaching assistantships.
10.
Are fellowships/scholarships available to newly admitted students?
- The department occasionally offers fellowship grants or scholarships between $2000 and $5000 per year to supplement assistantship offers to the most qualified applicants.
11.
Are GMAT scores acceptable in place of the GRE scores?
- We strongly recommend that students take the GRE, but we will review applications with GMAT instead. The screening guidelines for GMAT scores are:
Verbal (M.S. and Ph.D.): 50%;
Quantitative (M.S.): 65%;
Quantitative (Ph.D.): 75%.
12.
How can I find out more about the department and the graduate programs?
- The website you are viewing contains extensive information about the graduate program and the department's faculty and their research. We strongly encourage prospective students who are able to make a trip to Ames to visit with faculty and current graduate students. In some cases, the department offers partial reimbursement of visiting student's travel expenses. Contact the Graduate Program Coordinator, Judy Strand, for details and to make arrangements, jstrand@iastate.edu.
13.
What is the application fee?
- The fee for international students is $70; U.S. citizens pay a fee of $30. Note: If you were previously
enrolled at Iowa State University as a degree-seeking student, you can apply online for an administrative fee of $5.00.
14.
If I want to apply for financial assistance, what form should I complete?
- All complete applications are considered for assistantships. NO separate form is needed.
15.
What items should I include in the statement of purpose?
- What led you to choose economics or agricultural economics as a field of study? How has your background prepared you for graduate study in economics? What are your career plans? For Ph.D. applicants: What are your choices of fields of specialization? Agricultural Economics, Applied Econometrics, Environmental and Resource Economics, Financial Economics, Human Resources, Industrial Organization, International Economics, Macroeconomics.
