I might want to do an Economics PhD
My undergraduate degree was in economics, now I’m studying a master’s in philosophy. I absolutely love philosophy, and I’m excited by the opportunity to dive in deep. Yet there are reasons I’d consider further study in economics, rather than philosophy. Importantly, the job prospects for even the most excellent philosophy students, after a PhD, are frankly dismal. Dismal chances if you’re world class, less for anyone else. In contrast, Economics PhDs seem to have no trouble finding work in the private sector if their academic hopes are dashed. It may not be easier to become a professor, but at least the 3-7 years you’ve invested are useful when applying for other jobs. Second, there are areas of economics which I find deeply interesting. The strategic interactions of game theory are fun, while the combination of mathematical theory and psychology in behavioural economics is also especially interesting. I believe philosophy makes an excellent choice for an undergraduate program, especially when combined with a quantitative discipline. Clear writing and logical reasoning are excellent skills to develop. I am not at all knocking those who pursue a doctorate in philosophy, well aware of the grim career prospects, because they love the pursuit of knowledge and are happy to “waste” those years doing something deeply meaningful to them personally.
“An economics PhD is one of the most attractive graduate programs: if you get through, you have a high chance of landing a good research job in academia or policy – promising areas for social impact – and you have back-up options in the corporate sector since the skills you learn are in-demand (unlike many PhD programs). ” 80,000 Hours