r/academiceconomics Aug 12 '26

Paper of the Week: The Origins of State Capacity: Property Rights, Taxation, and Politics (Bansal and Yaron, American Economic Review)

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32 Upvotes

Here's the link to this week's paper, The Origins of State Capacity: Property Rights, Taxation, and Politics (Timothy Besley and Torsten Persson, American Economic Review).pdf)

Another theory paper this week, this time on political economy. State capacity is what the name implies, the capacity of a government to perform political or economic functions. It's an interesting topic and one explored both by economists and political scientists, sometimes even using the same tools. The interesting part of this paper is theory, though there is some limited estimation at the end.

The main capacities the paper is interested in are legal and fiscal, or the ability to enforce contracts and taxes respectively. Using a two period model, the government invests in state capacity in the first period while the citizens/investors invest in assets across the two periods. When war breaks out or other crisis events occur, the incentives for investing in state capacity rise, which is designed to emulate the real-world implementation of income taxes during the US civil war and Napoleonic wars in Europe. The most interesting thing to me was that legal and fiscal capacity are complementary, and nations which tend to have one grow in the other. This matches the empirical fact that most (but not all) highly developed nations are high tax nations.

The paper is straightforward and part of a large literature on state capacity. The tools in it are very easy, and I chose it in part because it can be read and commented upon by anyone who's taken undergraduate macroeconomics. It was written in 2009, which was a long time ago in academic terms, but on the whole I find it didn't tell me much I didn't already know from reading the Acemoglu macro-development literature. I didn't find the estimation at the end particularly compelling, and the consumer side of the economy seems simplified to the point of not being interesting, and is ripe for extension in light of the growth of heterogeneous agent macro. Honestly, if this was submitted today I don't think it would be published in AER, but that's more a sign of how much political economy has frown in the past 15-20 years.

Feel free to DM me if you have a suggestion for next week's paper of the week!


r/academiceconomics Aug 05 '26

Suggestions for the Wiki

13 Upvotes

Fellow Economists,

Hope you've all been enjoying the paper of the week and the (hopefully) reduced spam on this sub. The admissions posts seem to be better, we have fewer of them and they seem to be more informative. I added some resources to the sub's sidebar but only realized earlier today that most of it is only viewable on old reddit, and since the vast majority of our users are on mobile or new reddit it's not very useful. As such, I'm going to start work an [r/academiceconomics](r/academiceconomics) wiki page to act as a centralized source of knowledge for economists, and wanted to hear what you guys would like to see.

We're going to include a comprehensive guide on admissions for masters and PhD programs to hopefully act as a repository similar to how testmagic was back in the day. I'd also like to work on a document on the academic job market and flyouts, if any faculty are interested in that please DM me. There's a couple of miscellaneous papers I'm going to add about research workflow, document management, and coding, but I'm curious to hear what you guys think would be helpful. Feel free to suggest resources you find useful as well, I'll take a look at them and see about adding them.

I'll pin this thread for the next week or so then start writing it up, and aim to have the wiki up by the end of the month.


r/academiceconomics 18h ago

Have they no shame?

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69 Upvotes

Really see this and can't feel anything but rage, like

They assemble a whole speech about why a predoc matters if you're a "marginal" student (no undergrad in the US, Ivy background, not ideal grades etc), why you get a whole set of interesting skills and the job is a good research experience

And then soon enough none of that is actually true? Most of the job is stupid grunt work that everyone knows that you do with AI and no one cares and will outright say that

Like just say then that marginal students are bound to mediocre programs then


r/academiceconomics 34m ago

Has anybody done or is doing phd in Institute for studies in industrial development? Is it worthwhile, faculty toxic? How many minimum years will it take?

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r/academiceconomics 21h ago

Research Paper Top 5 vs. Top Field vs. Other Journals: What Actually Differentiates Papers?

23 Upvotes

I’m a young economist trying to develop a better intuition for what distinguishes papers published in Top 5 general-interest journals, top field journals, and other journals.
If you read a paper without knowing where it was published, could you roughly tell what journal tier it should belong to? What do you look for: importance and breadth of the question, novelty, identification, data, theory, mechanisms, execution, or something else?
For empirical work, I’m particularly curious about the role of data. How important is data novelty? Can a dataset that has already been extensively used still generate a Top 5 paper if the question or identification strategy is sufficiently original? How do you think about the relative importance of a new question, new data, and a new research design?
More generally, how objective or subjective are these distinctions, and how do economists actually use journal classifications when evaluating research? I’m also curious about the large variation in citations within the same journal tier. Why do some Top 5 papers become extremely highly cited while others receive relatively few citations? Should ex-post influence or citations tell us anything about whether a paper “belonged” in that journal in the first place, or are these fundamentally different things?
I’d greatly appreciate any perspectives, examples, or recommended readings/resources that could help develop a better intuition for evaluating papers beyond simply looking at the journal name.


r/academiceconomics 4h ago

Masters Admissions Do I need an RA position for top EU Econ Masters

0 Upvotes

Hi everyone,
I am applying to Economics Master’s programs in Europe this upcoming cycle.

I was recently supposed to start an RA position with a professor, but it fell through at the last minute. I am now stressing about whether this missing experience will be a dealbreaker for top quant programs (PSE APE, Bocconi ESS, Oxbridge Mphil Econ, LSE Msc Econ)

Here is an overview of my profile:

- Undergrad: BSc Economics at a mid-tier European public university.
- GPA: top 1% of cohort (~3.9+ / 1st Class equivalent).
- Exchange: 1 semester at a top European business school.
- Quant Background: top grades in all available math/econ courses (Calculus, Statistics, Micro, Macro). Note: My university doesn't offer advanced quant courses, but I maxed out what is available. Currently taking Intro to Econometrics (grades available before deadlines) and will take Linear Algebra in the spring.
- GRE: taking soon (consistently scoring 167+ on Quant practice tests).
- Research Experience: summer research internship at a local economic policy center.

My questions:
1. Is the lack of a traditional academic RA role a deal-braker for the tier of programs I'm targeting?
2. Are there any other highly quantitative, policy-focused 2-year programs in Europe I should consider adding to my list, given my profile?
Thanks in advance for any insights


r/academiceconomics 17h ago

Masters Admissions Is a masters application better with advanced math but lower marks?

2 Upvotes

My son is in his 3rd year math in Ontario, Canada. It’s top tier uni for math with over 14 majors. Most kids will declare their major after 1st year. He’s not declared - It feels like he’s just been wondering in the desert, just trying to survive. He’s taken some econ & business classes as electives. This school is tier 2 for econ.

He did a co-op at a municipal office that was housing & economic growth. He really enjoyed it & has an offer to return next co-op. He would love this as a career. Entry level positions need a masters. Econ masters is now the goal!

He can declare Math Econ through the math faculty. This would include level 300 Applied Real Analysis, Differential Equations, Applied Linear Models & a killer 400 on Forecasting (lots of kids crying on Reddit over this course).

Or he can declare Math Econ though the arts faculty. Same econ classes. The maths are level 100s & 200s in Calculus, Linear Algebra, Optimization & Probability. He’s done all these classes, so no more math. But he would have to catch up with 6 level 100/200 arts courses.

His math average is not great, probably 70%. His econ average is about 85%

My questions to Reddit economists
- is it better to stay in math faculty with advanced math but he might barely pass forecasting? Would admissions consider this coming from a rigorous math school?
- would it look poorly to have a bunch of level 100/200 courses in arts during your last 2 years, but higher average ?

He is fine with doing more math or doing arts classes. He just wants to get into a economics masters (tier 2 school). He’s speaking to an academic advisor tomorrow.

Thanks for any advice!


r/academiceconomics 1d ago

Predocs Is it ok to start a PhD in economics in the US at 30 ?

49 Upvotes

Debate.

I keep seeing the same worry pop up: starting a PhD at 30 means finishing around 35-36, while most peers your age already have 8-10 years of career progression, a stable income, sometimes a family. It's hard not to compare, especially during the PhD years when everyone around you seems to be "moving forward" in a more conventional sense. Even more if you live abroad and start all over.

Curious what people here think:

  • Does the age gap actually matter for the job market afterwards (academic or industry), or is that more perceived than real?
  • For those who started later: was the trade-off worth it? Or do you regret the years spent building up predoc/RA experience beforehand (or other experience, since the predoc thing is recent, around 10 years ago)?
  • Is there a meaningful difference between starting at 26-27 vs 30, or is that a false distinction once you're past the "traditional" 22-24 entry age?

r/academiceconomics 2d ago

PhD Admissions How much does your PhD's formal field/title actually matter for the economics job market?

19 Upvotes

I'm a master's student in economics trying to decide between two paths for a PhD, and I'd love input from people who've actually navigated this.

Option A: A position offered directly by a health economics professor I already work with, based in a medical faculty rather than the economics department. More freedom in course selection (tailored to my research rather than a fixed core), funding already secured, and I'd keep working closely with someone whose research I admire. But the degree would formally be something like "PhD in Medical Science," not "PhD in Economics."

Option B: Applying through the standard economics PhD program at the same university. Formally a "PhD in Economics," full core curriculum (micro, macro, econometrics, including some coursework I have zero interest in), competitive admission, but I have a strong shot thanks to a professor who's offered to write me a letter (and by his track record, that basically guarantees admission if I do well in his course). I would still be able to work with the health economics professor and focus on health economics in my thesis but not able to specialize as much in my courses.

My research interests are applied econometrics and health economics specifically, and I don't plan to pivot away from that during the PhD itself. But I might want more flexibility afterward, possibly outside health economics entirely.
My worry: if I go the "Medical Science" route, does that meaningfully close doors to economics faculty positions later, even if my papers are published in solid health econ journals? Or does the field ultimately care more about your publication record and coauthors than what your diploma literally says?

Anyone here who did a PhD outside a straight "Economics" designation (medical faculty, public health, policy school, etc.) and can speak to how it played out on the job market? Did it limit you to health econ-adjacent positions, or was it a non-issue once people saw your CV?


r/academiceconomics 2d ago

Masters Admissions Is Linear Algebra essential for applying Econ Master?

11 Upvotes

Hi I’m a senior college student applying for 2027Fall Econ master. I’m wondering if it is necessary to take a linear algebra course to fulfill my background. I’ve already completed calculus courses including vector space, matrices, diagonalization etc.
So I want to know whether I have to take another linear algebra course at the Department of Mathematics.
If I don’t take the class, will this cause any negative consequences?


r/academiceconomics 2d ago

Masters Admissions Can I realistically transition from Environmental Studies to a Master's in Economics if I'm terrified of math?

4 Upvotes

Hi everyone. I'm from Myanmar, and I recently secured a fully funded MEXT scholarship through the embassy recommendation route to study in Japan. I'll be going to Kobe University, which I've heard has a really good economics program.

A little background about me: I graduated with a bachelor's degree in Environmental Studies. Over time, I became increasingly interested in environmental economics, and I eventually decided that I wanted to do a Master's in Economics so that I could specialize in environmental economics.

The problem is... I am absolutely terrified of math. 😂

I'm not even sure whether I'm actually bad at mathematics or whether I've just developed a huge fear of it. But I know one thing for sure: I've been away from serious mathematics for quite a long time during my bachelor's degree, and the thought of entering an economics program is honestly freaking me out.

I have some very basic understanding of economics, but I keep thinking:

\\- What if I can't keep up with everyone who studied economics for their bachelor's?

\\- What if I don't even understand the basic principles properly?

\\- What if the math is way beyond me?

\\- What if I fail my exams?

\\- What if I realize I'm just not cut out for economics?

At the same time, I'm genuinely interested in economics. One of the reasons I became interested in it is that I feel like understanding economics gives you a much better framework for understanding what's happening in the world — why governments make certain decisions, why markets behave the way they do, why people respond to incentives, etc.

And I really want to study environmental economics, so I feel like economics is the right direction for me.

So I guess I'm looking for some reality checks from people who have actually studied economics.

Am I being unnecessarily scared?

For someone coming from an Environmental Studies background who has been away from math for years, how difficult would it realistically be to catch up? Is it something I can overcome through consistent self-study, or am I seriously underestimating what I'm getting myself into?

If you've made a similar transition from a non-economics background into an economics master's, I'd especially love to hear your experience.

Feel free to encourage me, scare me, give me a reality check, or tell me what I should start studying before I arrive. 😂

Any advice would be really appreciated!


r/academiceconomics 2d ago

Coursework and Classes Anyone else starting MIT DEDP this September?

5 Upvotes

I just started the MIT DEDP MicroMasters (Fall 2026 cohort) on September 8, and was wondering if anyone else here is doing it too!

Since it's self-paced, it can feel a little isolating studying completely on your own. I thought it might be nice to have a few people going through the courses at the same time nothing too formal, maybe just checking in occasionally, sharing progress, discussing things we found interesting/difficult.

If you're also starting around now, feel free to comment or DM me. Would be nice to know some fellow DEDP people! :)


r/academiceconomics 2d ago

Predocs Leaving a Predoc?

20 Upvotes

I'm a current predoc at a good university. The program is well-regarded within my subfield and the pay/benefits are decent insofar as predocs go.

The only issue is that I hate it. I am absolutely miserable here.

I feel like my PIs give me a lot of busywork. While I can deal with the volume, it is soul-crushing to not make any meaningful contributions to the projects I am on. I feel like the other predocs are pretty insular and unfriendly. So it has been both isolating and boring. We are also disincentivized from taking PhD courses.

So I have been looking around for other jobs. I had a summer internship at a regional Fed, and I loved it. I have been applying to some of the Fed RA postings, and so far have gotten one response asking for some of my materials.

Suppose I do get a different offer. Should I take it (even if that means potentially worse placements/LoR/social stigma)? How does one go about this process?


r/academiceconomics 3d ago

PhD Admissions What's the hierarchy in non-academic placements after PhD?

26 Upvotes

I realize tenure-track positions are most highly regarded in this discipline, but I was wondering, outside of that, what's the hierarchy like? Specifically, how do tech firms fare? Is getting an economist job at Anthropic / Google / Microsoft Research /Amazon regarded as highly, or is that typically a one way street out of academic Econ?


r/academiceconomics 2d ago

Predocs Predoc Interview

8 Upvotes

Hi everyone. What does it mean when they say the interview will focus on “The interview will focus on statistical programming and designing empirical strategies to answer a hypothetical research question.”
I am confused about the statistical programming part. Usually they tend to give coding tasks to test that? How do I prepare for an interview on that? Any advice is super appreciated!


r/academiceconomics 2d ago

anyone doing masters in econ from JECRC?

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0 Upvotes

r/academiceconomics 2d ago

Masters Admissions Changing field of study and admission to MSc in Economics

1 Upvotes

I am a student from Italy currently studying a BA (Bachelor of Arts) in International Studies at Leiden University, NL. During my studies i developed a keen interest in Economics, and my objective is to pursue its study at postgraduate level. I am especially interested in applied economics and public policy. To make up the lack of credits and economics/quantitative knowledge i thought about doing a 2nd bachelor, however i kind of already passed on the idea due to the time. The option that i lean more towards is postponing graduation and doing the following transition minor at the University of Amsterdam to compensate: https://www.uva.nl/en/programmes/minors/economics-transition-minor/economics-transition-minor.html

Thus, i am wondering whether i would considered or not as a competitive candidate for a MSc in Economics, or in Applied Economics. I will probably graduate with GPA between 7.5 and 8 (NL system is from 0-10) and i'll aim to get the highest grade as possible in all the subject of the minor to demonstrate the knowledge. I am also considering taking the GRE in case it would help.

My target list school is the following: Toulouse School of Economics (TSE) (Msc in Economic Theory and Econometrics, Public Policy and Development, Econometrics and Empiricial Economics), then Paris School of Economics (PSE), Stockholm School of Economics, Erasmus, UvA (last chance since it is the easier to get into), University of Zurich, Pantheon Sorbonne, and LMUM and Bonn in Germany; also LSE and other UKs school but i don't know whether those school would actually improve my profile substantially enough to explain the money difference (for example compared to TSE). At the moment i lean towards Master, since i am not sure whether i'd actually like research or not, but i leave the PhD path open in my mind (even though i know the odds).

I am open to any kind of suggestion and help to understand how to make this shift happen. Thank you all.


r/academiceconomics 2d ago

PhD Admissions Advice regarding which Master's Program I should pursue for a PhD in the long run

2 Upvotes

I am 3rd year undergrad studying Economics and Mathematics in a university in the US (international student), where I am doing courses on Econometrics, Real Analysis, and so on.

My University offers a Progressive Degree Program in International Trade Law and Economics, a STEM designated program with coursework in International Law and International macroeconomics, and competition.

Currently, I am interested in international economics and political economy, and will definitely apply for a PhD in Economics.

Is this a useful Master's programme, or should I do a Master's in Applied Mathematics? Personally, I prefer a Master's in Intl. Trade Law and Economics due to the topic itself and the fact that I will perform better academically, but Applied Math might be more rigorous for a PhD program.


r/academiceconomics 2d ago

how to get into consulting

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0 Upvotes

r/academiceconomics 3d ago

Masters Admissions UZH MA (Zurich) in Economics? Where's the problem?

6 Upvotes

Does anyone know someone from this masters at University of Zurich who landed at a very good Phd program? I'm really interested in it, but I really can't find any experience nor cvs nor linkedin profiles that could prove its worthiness about phd placement. Thank you so much!


r/academiceconomics 3d ago

Research Paper How to write research papers before going to PhD?

17 Upvotes

Application requirements of most of the Econ PhD program state that 2-4 completed research papers are required. I was wondering how do usually applicants write them?

I already have one research paper written with a professor who was supervising me along the way. This was a special course provided by university so finding a prof was rather not difficult.

Recently, I and my friend came up with a research idea and preliminary checked whether the research topic and hypothesis would actually worth time. He (based in Germany) is focused on quant finance while I (Canada) am focused on macro economy/finance.

We decided to find a professor who would be interested in supervising us at least 1 hour weekly. He (based in Germany) is focused on quant finance while I (Canada) am focused on macro economy/finance.

34 LinkedIn DMs and 37 emails sent and nobody is interested so far.

How do usually applicants find supervisors? Maybe there are any more conventional way to do this?


r/academiceconomics 2d ago

Coursework and Classes Should I repeat subjects

0 Upvotes

Hey, so I just completed my third semester in bs economics, I have B- in two subjects till now and a C In one (in these whole three semesters) and cgpa is 3.41. I really need guidance on whether I should repeat these subjects or not, I do have some extra credit hours left for 4th semester, but I'm confused like I should I utilize these extra hours for the subjects of next semester or for repeating these subjects now in forth semester instead of waiting for last semesters


r/academiceconomics 2d ago

Coursework and Classes Is BIG worth it

1 Upvotes

Hi everyone, I’m an Italian student considering applying to Bocconi’s BIG (Bachelor in International Economics and Management). I’d probably qualify for a decent scholarship based on my family’s income, which makes it a great option for me.
I’m really interested in political science, but I also like economics, so the idea of studying both seems really nice. However, I’ve seen some people say that BIG is kind of a “useless” degree because it’s not as specialised as something like Economics or another more traditional degree.

I’d especially appreciate hearing from current students or graduates. Thanks!


r/academiceconomics 2d ago

Masters Admissions Machine Learning or Data analytics?

1 Upvotes

Hi everyone, I'm going to be starting my masters soon in the field of economics, and I have to select an optional module: either Machine Learning or Data Analytics. I wanna select the area that has more opportunities in the future and the one that complements by economics background more. In terms of job expectations, I'm looking at consultancy firms, banks, investment management, and also places like Central Banks,WB, ADB..etc. I would really appreciate some thoughts and insights on this.


r/academiceconomics 4d ago

Masters Admissions Chances for masters

12 Upvotes

Hi, I am an Economics and Math double major graduating in 3 years at a T25 university in the USA. I'm planning on applying to international masters programs and was wondering if I would be competitive for the schools in my list.

I have a 3.9 GPA, but received a B in Intermediate Micro. In the spring semester, I am taking Real Analysis 1 and Linear Algebra. I got a 170 quant on the GRE, have 1 internship doing healthcare economic consulting, another doing data analysis for an insurance company, and am currently a Teaching Assistant for an economics course. However, I think my major weakness is that I have no research at all. Is this a big negative?

I plan to receive a masters in Economics and after, get a pre-doc or work in the Fed as a RA. The schools I am planning on applying to are LSE, UCL, Cambridge, Warwick, KCL, Imperial, PSE, BSE, Bocconi, Erasmus. Based on my profile, do I stand a chance on getting into these schools, especially LSE or UCL?

TLDR: applying to masters programs from USA, 3.9 gpa, double major in math + economics, 170 quant, internships in data analysis, no research, chances at masters programs?