THE PhD EXCELLENCE INITIATIVE, supported through a grant from the Alfred P. Sloan Foundation, and through the generosity of the Hoover Institution at Stanford University, identifies high-achieving college graduates of color (or graduating seniors) who have a passion for economics and prepares them for the rigors of top-tier PhD programs within the discipline. The Initiative positions these high achievers for further success in academia through its focus on research excellence, writing for publication, and peer networking and support. A high degree of one-on-one mentoring is also a hallmark of the Initiative.
> THE NEXT DEADLINE FOR APPLICATION TO THE INITIATIVE WILL BE IN FEBRUARY 2024
Instructions for Application (via our new website)
Harnessing Untapped Talent: The Problem of Underrepresentation in Economics
Despite greater overall advancement in higher education for minorities, data reported by the American Economic Association’s Committee on the Status of Minority Groups in the Economics Profession (CSMGEP) make clear that disproportionately few of these minorities, particularly African Americans, find their way into the field of economics—both in terms of doctoral graduates and number of professorships.
Such underrepresentation is significant, since policymaking bereft of insights from economists of color can result in an incomplete understanding of the impact of the policies—not only on communities of color but on the U.S. economy as a whole, due to the increasing importance of minority groups in the general population. The Ph.D. Excellence Initiative aims to address the problem by augmenting the skills of already highly qualified candidates and channeling them into top-tier Ph.D.-granting institutions where they will also serve as highly visible role models for others and help break the self-reinforcing pattern of underrepresentation.
Components of the Initiative
The Initiative adds one outstanding college graduate each year, bringing him or her to Stanford to receive an annual stipend to work and study full time as a Research Fellow for two years with Peter Blair Henry, as part of the broader community of research fellows at the Stanford Graduate School of Business.
The Ph.D. Excellence Initiative is an intensive, highly individualized training program that rests on four pillars of success for doctoral studies: Economic Research, Advanced Coursework, Writing/Publication, and Mentor/Peer Support.
Research Scholars participating in the Ph.D. Excellence Initiative take an active role in collaborative empirical research for papers to appear in economics journals. Scholars hone their research skills by assisting with hypothesis formulation, data collection, and rigorous econometric analysis. Through critical engagement with research and exposure to some of the most significant economic issues of the day, scholars have an opportunity to more clearly define their own research interests and generate ideas that may form the basis of future journal publications and/or dissertations.
An additional benefit of participating in the Ph.D. Excellence Initiative is the option to enroll for credit in courses offered at Stanford University. Following an assessment of their undergraduate transcripts, scholars will receive individual guidance in selecting the best enrichment courses in economics, advanced mathematics, statistics, or other relevant subject areas.
Recognizing the importance of publication in leading journals as a primary path to success for academic economists, the Ph.D. Excellence Initiative focuses heavily on the development of high-quality writing throughout the year and during the Initiative’s Summer Research Workshop.
Mentor and peer support is widely acknowledged as a powerful “make or break” factor in Ph.D. program success, especially for students of color. Research Scholars in the Ph.D. Excellence Initiative enjoy a high level of mentor support on an ongoing basis. In weekly scheduled meetings, scholars have the chance to discuss and receive advice on research, coursework, publications, and other areas. Through the Ph.D. Excellence Initiative, participants also gain access to a growing network of similarly motivated, highly successful scholars of color who have gone on to doctoral programs at top-tier institutions. The Initiative’s annual Summer Workshop (presently co-hosted by the Federal Reserve Bank of New York in New York City) unites past and present participants and encourages collaboration and lasting connections, providing additional avenues of support for scholars as they advance in their careers beyond the Initiative.