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The Hayek School of Economics

Ph.D. of Economics


The Hayek School of Economics’ doctoral program (Ph.D.) in Economics is a highly concentrated curriculum designed to help the exceptional candidates develop into pioneering academics, erudite scholars and advanced researchers in the broad discipline of economics. We strive to develop functional economists, not mathematicians. The program places emphases on the following sub-fields of the discipline of economics: Micro Economics, Political Economy, Finance, and International Economics. In a learning environment that is equipped with the latest technology, the Hayek School of Economics’ graduate students master these fields and learn to think strategically from the world-renowned faculty and top practitioners.


Ideal candidates for our doctoral program would have achieved the highest standing in taking the M.S. degree study in economics, political economy or business administration at a recognized university, and are able to demonstrate exceptionally strong propensity for contributing to economic theory and performing advanced scholastic research. Although such exceptions are rare, applicants who possess only an undergraduate degree, but are able to demonstrate extraordinary aptitude and knowledge, may also be admitted into the program. The Ph.D. program in economics is designed to prepare the student for university teaching and research, and for positions as economists in government, public service, business and industry. Our doctoral graduates have obtained leadership positions in government offices and large corporations, as well as most premier universities in the United States and Europe.

The Hayek School of Economics seeks applicants with special talent, exceptional ability and aptitude who can succeed in a research-oriented program. Admission to this full-time doctoral program is a competitive and highly selective process.


Typically the first year of the candidacy is spent in advancing knowledge in general theories of the discipline and its different subfields. Upon finishing the coursework, at the end of the second year, the candidate usually enters the research stage, which involves studying additional literature, preparing the dissertation proposal, and writing the dissertation. The candidate is guided by the Curator, who is a full member of the faculty and the Graduate Committee, and serves as the academic and dissertation advisor to the candidate. Typically at the end of the second year the candidate submits the proposal. The Ph.D. student should successfully propose, submit, and defend the doctoral dissertation under the supervision of the Graduate Committee.


The Hayek School of Economics offers more than just the traditional online experience. It combines in-class seminars and examinations with online guidance. The Hayek School of Economics provides the doctoral candidates with valuable extracurricular opportunities to exchange ideas with high-level executives, participate in business simulation competitions, and the attend ESAP, the European Study Abroad Program of Georgian International University which gives our students unique opportunities to study, as well as teach in Europe, and receive full certifications and dual degrees from premier European academic institutions. Attending the ESAP is not mandatory for most programs, but it is always highly recommended. This will allow our candidates to become closely acquainted with international academic and economic cultures, people and unique economic philosophies, traditions and viewpoints of different nations.


Tuition is approximately $800 per course, subject to change.

Principle Course Credits
ECON 760 Microeconomic Theory: Advanced 4
ECON 765 Macroeconomic Theory: Advanced 4
ECON 800 History of economic Thought I: Milton Friedman 4
ECON 805 History of Economic Thought II: F.A. Hayek 4
ECON 810 History of Economic Thought III: Frederic Bastiat 4
ECON 815 History of Economic Thought IV: A Multinatioal Compendium 4
ECON 610 International Political Economy 4
ECON 620: Global Economics 4
ECON 630 International Financial Economics 4
ECON 740 Internatioal Economics 4
STAT 670 Quantitative Methods 4
ECON 750 Econometrics I 4
ECON 755 Econometrics II 4
ECON 700 Labor Economics 4
ECON 640 Public Economics: Tax and Budget Policy 4
ECON 820 History of Economic Thought V: Thomas Sowell 4
ECON 825 Advanced History of Economic Thought VI: Ludwig von Mises 4
FIN 640 Risk Management 4
FIN 725 Advanced Finance 4
ECON 730 Economics of Institutions 4
BUS 700 Human Motivation: McClelland 4
BUS 600 Business Leadership 4
Dissertation Credits
Ph.D. 1 Proposal, APA Style, 2 pages 4
Ph.D. 2 Dissertation, APA Style, 50 pages 4
Total Credits 96


We admit graduate students on a quarterly basis. We welcome international students, as well as transfer students of good academic standing into our graduate programs.


  1. A transcript(s) with undergraduate GPA of 3.0, or instead a Graduate Record Exam (GRE) test score of 550 on the verbal and 600 on the quantitative portion. In some cases Graduate Management Admission Test (GMAT) may be also acceptable.
  2. Two Letters of Recommendation from the school(s) previously attended.
  3. TOEFL score for international students.


6 Economics (graduate course) Credits
3 Finance (graduate course) Credits
3 Political Science (graduate course) Credits

Prior undergraduate or graduate courses in which a grade of B- or higher was attained can be used to meet the prerequisites of the program. Areas in which the student does not have prior coursework can have the necessary requirements met by taking the following foundation courses at Georgian International University:

ECON 405 – Economic Philosophy
ECON 500 – Essential Economics
FIN 500 – Essential Financial Management
POL 450 – Basics of Political Science

Truly exceptional applicants, who do not meet the enrollment requirements, still may be considered for the program. They must be interviewed in person and evaluated by the Graduate Committee. Taking additional prerequisite courses will be a part of the provisional admission. Prospective applicants must take under consideration that the university rarely makes such exceptions.