Wednesday, May 24, 2006

Greg Mankiw on Studying Economics

Greg Mankiw links to some advice for graduate students studying economics:

Because there appeared to be much interest in the advice I offered undergrads in a previous post, let me provide the same service for graduate students in economics.

But rather than doing the work myself, I will outsource the task to some of my colleagues in the profession:
  • Don Davis gives some guidance about finding research topics.
  • John Cochrane tells grad students how to write a paper.
  • Michael Kremer provides a checklist to make sure your paper is as good as it can be.
  • David Romer gives you the rules to follow to finish your PhD.
  • David Laibson offers some advice about how the navigate the job market for new PhD economists.
  • John Cawley covers the same ground as Laibson but in more detail.
  • Dan Hamermesh offers advice on, well, just about everything.
  • Assar Lindbeck tells you how, after getting that first academic post, to win the Nobel prize.

Also see his previous advice for undergrads and his recommendations for math courses future economists should take.

Here are Romer's rules for getting out with your PhD in five years:

  • Don't clutter up your life with other activities; just write.
  • Don't carry out a thorough and comprehensive search of the literature; just write.
  • Don't attempt to make sure that every page you write shows the full extent of your professional skills; just write.
  • Don't write a well-organized, well-integrated, unified dissertation; just write.
  • Don't think profound thoughts that shake the intellectual foundations of the discipline; just write.
  • If you don't have a paper started by the spring of your third year, be alarmed.
  • If you don't have a paper largely drafted by the fall of your fourth year, panic.
  • Have three new ideas a week while you are getting started.
  • Don't try to game the profession, work on what interests you.
  • Good papers in economics have three characteristics:
    • A viewpoint.
    • A lever.
    • A result.

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