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Microeconomic Theory

Northwestern has a history as a breeding ground for many of the important advances in modern microeconomic theory. That tradition continues today. For Ph.D. applicants interested in economic theory, Northwestern University provides a uniquely stimulating, unparalleled learning and research environment.

The theory faculty at Northwestern includes four members of the American Academy of Arts and Sciences and at least eight fellows of the Econometric Society. Northwestern theory faculty are also currently members of the editorial boards of all the leading theory journals, as well as most general-interest journals. There are more theory associate editors on the board of Econometrica from Northwestern than from any other university. A former editor of Econometrica and the editor of Games and Economic Behavior are also on the Northwestern faculty.

The Northwestern theory community comprises a larger theory faculty and more theory courses than anywhere else in the world. Furthermore, there is close interaction with students and faculty in the Kellogg School of Management. Theory students interested in political economy, finance, and strategy regularly interact with Kellogg faculty in those fields on a regular basis; joint thesis committees are common.

Northwestern offers two weekly theory seminars: the Theory Workshop, which features external speakers, and the Theory Brown-Bag Lunch, which showcases current research by Northwestern faculty. No other department anywhere provides students with a comparable exposure to cutting-edge research in economic theory.

The Center for Economic Theory hosts scholars from other institutions, and encourages their interaction with our faculty and students. It also provides targeted financial support for theory students. Finally, the Center sponsors a monthly seminar where theory students present their work-in-progress to an audience of faculty and peers.

The placement record of Northwestern theory students - a record that we are very proud of - is a testament to the enthusiasm and dedication that characterizes the Northwestern theory faculty throughout the mentoring and advising process. Theory placements in the last seven years include The California Institute of Technology, University of Chicago, Harvard University, University of Minnesota, and Stanford University in the United States, and Oxford University and the University of Toulouse in Europe.