phd in strategy

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Managerial Economics & Strategy

The PhD program in Managerial Economics & Strategy (MECS), a program offered jointly by the Departments of Managerial Economics & Decision Sciences (MEDS) and Strategy, emphasizes the use of rigorous theoretical and empirical models to solve problems in both theoretical and applied economics.  A distinctive feature of the program is its focus on rigorous methods and insights drawn from microeconomics.  The program should appeal to students who wish to investigate economic questions in scenarios where the actions of individual decision makers (such as individual people, firms, or countries) play a key role in determining outcomes.  The program is appropriate for students with an aptitude for analytical thinking, mathematical modeling, and formal analysis.

The MECS program produces research scholars who obtain academic positions at top economics departments and business schools throughout the world.  This objective is achieved by restricting class sizes (averaging 5-6 students entering per year), accelerating students’ exposure to the development of research ideas, and by providing access to courses taught in the MEDS and Strategy Departments along with Northwestern’s Economics Department. Active Research Areas : contract economics, decision theory, development economics, economics of innovation, economics of organization, economic theory, game theory, health economics, industrial organization, mechanism and market design, technology and innovation, political economy, and social choice Please note: Applicants to economics-based PhD programs, such as Managerial Economics & Strategy, may opt-in to have their application considered by Weinberg's Economics PhD program. More information about this option is available on The Graduate School website . 

Within the MECS PhD Program, our doctoral students have access to over 45 faculty members as potential dissertation advisors from the MEDS and Strategy Departments.

The MEDS faculty include economic theorists, game and decision theorists, formal political theorists, and development economists, all with broad research interests such as the nature and impact of strategic behavior in competitive environments, development economics, dynamic economic models, the role of time and uncertainty in economic decision-making, voting information, political economy, and theory of auctions. Faculty in the MEDS Department have won numerous research awards, have been elected to memberships of prestigious elected societies such as the  Econometric Society  and the  American Academy of Arts and Sciences ,  and are on the editorial boards of leading journals. The Games and Economic Behavior  journal was founded in the MEDS Department.

The faculty from the Strategy Department consist of applied micro-economists whose interests include the industrial organization, health economics, organizational economics, economics of innovation, and public policy. Strategy faculty sit on the editorial boards of leading journals and are frequently sought out for their expertise in business and government affairs. Members of this department founded the  Journal of Economics and Management Strategy  and authored  Economics of Strategy , one of the primary textbooks in the field.

In addition, faculty from Northwestern’s Economics Department, particularly those in the areas of economic theory and industrial organization, are also actively involved in teaching and advising our doctoral students. Our students and faculty are literally at the center of the economics research community on campus ,  with both Kellogg and the Economics Department located in the same building.

What We Are Looking for in Applicants

Our program prepares students for academic research careers in economics, economics-based strategy, and formal political theory. Students typically find jobs in either economics departments or economics-based departments in business schools. Recommended coursework at an advanced level includes calculus, linear algebra, optimization, probability and statistics, in addition to a solid background in economics.  A master’s degree is not required, though about half of our matriculating students have a graduate degree. Prior research experience is not required.

Program Requirements

Coursework In years one and two, our PhD students take a minimum of nine courses, three courses each quarter (fall, winter, spring); although, students may take up to four courses a quarter. In year one, c ourses deal with the fundamental disciplines of microeconomics, econometrics, and optimization. As a fourth class, students often take math classes that include real analysis and complex analysis.

Courses in year two are more finely tuned to our students’ particular research interests, as they transition from coursework to independent research. Currently PhD students may draw from among thirteen MECS elective courses covering a range of topics, including political economy, economics of innovation, organizational economics, health economics, and economic theory. There are many more courses available from the Economics Department as well. Students must take three sequences (each sequence is at least two courses) in advanced fields, but wide latitude is allowed in the choice of fields. Other elective courses and independent studies round out the second-year coursework. These courses include courses in other fields, such as operations, engineering, quantitative marketing, and an MBA course if relevant. 

Paper Requirement Student must write a paper during the second year under the advisement of a MECS professor. Most often the papers are related to papers written for one or more second-year PhD courses. The paper must be completed by September of the third year.

Research, Proposal & Dissertation The main activity in the third year and afterward is research toward a thesis, under the direction of one or more faculty advisors. A thesis proposal must be presented to the department by the end of year three, prior to the beginning of fall classes. In their final year in the program, each candidate must complete a dissertation demonstrating original and significant research and pass a final oral examination on the dissertation.

Teaching Requirement To promote engagement with faculty and integration with the intellectual life of the department, students serve as research and teaching assistants during years two, three, and four, including summers. Research assistantships (RAs ) are an excellent lead-in to research; teaching assistantships (TAs)  prepare s students for teaching after obtaining the PhD.

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From the Strategy Ph.D. Liaison

"As the Strategy area Ph.D. liaison, I welcome you to the study of strategic management at UCLA Anderson. Our program has a strong analytical orientation. Students take courses in strategic management, economics and other fields. The Strategy area at the UCLA Anderson School of Management administers the program. If you are motivated to create new knowledge and innovative research to help advance the field of business strategy, we encourage you to get in touch and apply."

Olav Sorensen Ph.D. Strategy Ph.D. Liaison

Explore the Program

Sample publications.

The Role of Chance Encounters in Silicon Valley Innovation Dee Gill UCLA Anderson Review

As Silicon Valley legend has it, back in the day semiconductor hotshots gathered at Walker’s Wagon Wheel to drink and gossip and, by the third beer, a new technology breakthrough had often been devised. Repeated millions of times over, at any place but the office, chance encounters have kept Silicon Valley cranking out patents — and technology startups — faster and more profitably than any other region of the world.  

Read Publication

Doctors, Subjected to Peer Comparison, Felt Increased Burnout Carla Fried UCLA Anderson Review

If there’s a work cohort we all have a vested interest in keeping happy and healthy, it is primary care doctors. By one estimate published in 2021, the U.S. is expected to be short by between 17,800 and 48,000 primary care physicians by 2034, and nearly one-third of current primary care docs reported being burned out.  

In a Boom, Incumbent Firms Can Redeploy Workers to Rapidly Expand Michael Totty UCLA Anderson Review

It is a new economy truism: Nimble startups have an edge over larger, well-established companies. New ventures are more innovative and can be better attuned to the markets they operate in, while incumbents, constrained by their existing operations, may be less able to commit resources to new ones.  

Household Energy Efficiency: Not All Upgrades Are Created Equal Michael Totty UCLA Anderson Review

Energy efficiency seems to offer one of those rare “everybody wins” solutions. It can save money on electricity bills, fight climate change, make it unnecessary for utilities to build new power plants and create jobs, and, by some estimates, save $2 in benefits for each dollar invested.  

Cause and Effect in the Complex World of Corporate Decision Making Dee Gill UCLA Anderson Review

Establishing links between cause and effect is a core function of scientific research, and one that we now know is far more difficult than previously thought. In the past decade, concerted efforts failed to replicate hundreds of studies published in prestigious journals, particularly in medicine and social sciences. This “replication crisis” has led to a flood of new research methods aimed at weeding out hidden factors that lead scientists to mistake mere correlations for causation, for actions that actually lead to change.  

Alumni Success

David Bardolet (’08)

Dissertation: New Perspectives on Capital Allocation

David Bardolet's research interests include behavioral strategy, resource allocation and corporate strategy. His work has been published in Strategic Management Journal and Industrial and Corporate Change, as well as in edited collections from Oxford University Press and Kluwer. Mentored at UCLA Anderson by Professor Craig Fox, he is a collaborator at the Fox Uncertainty Lab.

Vanessa Burbano (’15)

Dissertation: Three Essays on Corporate Social Responsibility

Now an Assistant Professor of Management in strategy at Columbia Business School, UCLA Anderson alumna Vanessa Burbano focuses her research topics on the intersection of corporate strategy and social/environmental issues, and on employee motivation. Her research has been awarded by the Strategic Management Society and the Strategy Research Foundation. Having joined Columbia in 2015, Burbano earned her Ph.D. from Anderson in 2011 and has also worked as an Associate at Goldman Sachs and as a Strategy Consultant at Monitor Group.

Bennett Chiles (’17)

Dissertation: Shrouded Information and Strategic Transparency: Three Essays on Price Obfuscation

UCLA Anderson graduate Bennett Chiles has previously worked in strategy consulting, data analytics, and the non-profit sector. Now, she's an Assistant Professor of Management in strategy at Columbia Business School, having joined in 2017. Chiles' research looks at issues at the intersection of competitive strategy and behavioral economics, focusing on information disclosure and deceptive business practices. She received her Ph.D. from UCLA Anderson School of Management in 2017.

Sara Parker Lue (’13)

Dissertation: Conflict of Interest and Incentives in Health Care

After graduating from UCLA Anderson with a Ph.D. in 2013, Sara Parker Lue joined Rutgers Business School as an Assistant Professor of Management and Global Business. She focuses on teaching business policy and strategy, along with health care strategy, while her research focus is on strategic human resources, organizational economics of health care, boundary of the firm, impact of reputation on agency issues, and regulatory policy. Lue also earned her M.A. in Economics from UCLA in 2010.

James Owen Ostler (’13)

Dissertation: Strategic Risk Taking Under Competition

James Ostler earned his Ph.D. from UCLA Anderson in 2013, and has since become an Assistant Professor of Strategy at the University of Michigan Ross School of business. His research focuses on decision making under uncertainty, exploring how business decisions are made based on expectations of an uncertain future. Ostler has also worked at start-ups, and as a consultant for a Fortune 500 company.

Belen Villalonga (’01)

First academic placement: Harvard Business School Dissertation: 'Chop Shop' Valuation Models and the Diversification Discount

Belen Villalonga has written numerous articles on how family ownership and control influence the management and governance of firms as well as their performance. Her award-winning research has been published in leading academic journals and cited over 750 times in academic publications, and has been featured in CNBC, NPR,  Bloomberg Businessweek, The Economist, Expansion, Financial Times, Forbes, International Herald Tribune  and many other international business publications. Since 2006, Villalonga has served as an independent director on the board of Acciona, a family-controlled Fortune Global 500 company in the infrastructure and renewable energy businesses.

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A doctoral degree from Georgia Tech’s Scheller College of Business prepares you to pursue a faculty career at a research-oriented academic institution. Faculty enjoy high salaries, autonomy, an intellectually stimulating job, and the opportunity to teach and work with bright students. 

Why Strategy and Innovation?

The field of strategy is concerned with explaining and predicting firm-level differences in performance. The intersection between strategy and innovation is particularly fertile because of the growing role of innovation-based products and processes, and the critical role technological capabilities play as a source of competitive advantage. The intersection between strategy and innovation is also particularly relevant for technology-based new ventures. The areas of strategy, innovation, and entrepreneurship offer excellent job prospects for Ph.D. graduates.

Why Georgia Tech?

We are one of the leading academic groups with a research focus specifically on the intersection of strategy and innovation. Students can customize their curriculum by selecting from courses offered at Georgia Tech and top-tier partner institutions and they have access to outstanding research infrastructure such as a Census Research Data Center. Given the small size of the program, we place a strong emphasis on mentorship, allowing students to learn from a diverse faculty.

Our Ph.D. program emphasizes the early involvement of students in research projects with internationally recognized faculty. Our research is interdisciplinary, often applying economic thinking and integrating insights from other areas such as sociology, psychology, and management.

Faculty members publish in high-impact management journals such as Management Science, Organization Science, Research Policy, and Strategic Management Journal as well as in top journals in related fields such as Science, Nature, RAND Journal of Economics, and the Review of Economics and Statistics . Our faculty hold positions as journal editors and members of editorial boards, leadership positions in professional associations, and research appointments at highly selected bodies such as the National Bureau of Economic Research. Faculty members regularly share their knowledge with managers and entrepreneurs and have been invited to join as policy advisers to the Council of Economic Advisors and Committees of the National Academies. 

We host, co-sponsor, and participate in leading research conferences such as the Roundtable for Engineering Entrepreneurship Research (REER) and the Consortium for Competitiveness and Cooperation (CCC). Our weekly research seminar attracts presenters from institutions such as Harvard, MIT, Stanford, and the Max Planck Institute. Ph.D. students actively participate in these events, providing them with opportunities to learn from internationally leading scholars and to grow into the professional community.

What Does the Program Cost?

We fully fund all admitted students for at least five years, including a tuition waiver and a stipend to cover living expenses. Successful program completion will require a significant investment of time and effort, which is most likely to pay off for students with a clear interest in a research-oriented faculty career.

Tuition and Financing

Application process, the application deadline is jan. 6 for admission the following fall semester (starting mid-august)., strategy and innovation news.

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PhD in Strategy

Strategy and entrepreneurship.

As a strategy doctoral student, you have direct access to and work closely with UNC Kenan-Flagler’s renowned faculty. Strategic management is the bedrock of our research and provides a platform for additional focus areas: entrepreneurship and innovation, sustainable enterprise and information technologies.

The Strategy PhD Program prepares you to produce high-quality research as a faculty member at a top business school.

Our rigorous program draws from such disciplines as economics, psychology and sociology to inform research in the area of strategy and entrepreneurship. Although some students have completed graduate work before enrolling in the PhD program, it is not necessary.

Typical course schedule by year

During the first two years of the PhD program, your courses develop the tools you need to produce high-quality research. Sample classes include:

• Economic Foundations of Strategy
• Behavioral Foundations of Strategy
• Organizational Theory Macro-Organizational Behavior
• Seminar in Strategy: Topics might include international business, qualitative approaches to research, social networks, innovation and entrepreneurship, and simulation models.
• You will write an original research paper under the supervision of a faculty member for presentation and critique.
• Research Methods I
• Research Methods II
• Statistics I
• Econometrics

You also take classes in other disciplinary areas such as economics, sociology and psychology. We maintain close ties with the Duke University faculty and you may take approved doctoral level courses at its Fuqua School of Business.

• A comprehensive written examination covers all of the organizational behavior and leadership courses taken in the first two years of the PhD program.
• An oral presentation of your current research
• Full-time research
• With consent of your advisor, you may attend/participate or present at external national or international conferences after your second year.
• Dissertation and Oral Defense is expected prior to the end of your fifth year.
• Preparing for the job market
• You may take any elective course offered by UNC Kenan-Flagler or other UNC or Duke departments with guidance from your advisor.
• Students are invited to participate in all related research seminars and guest speakers offered at UNC Kenan-Flagler.

View our current Strategy and Entrepreneurship PhD students .

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Program Requirements

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Below please find the program requirements for a students in Strategy . Doctoral students in Strategy generally complete the program in four to five years. Below are the program requirements:

A minimum of 13 semester courses at doctoral level are required. Each semester students will consult with the Strategy faculty coordinators to receive approval of their course selections.

Microeconomics Theory : A comprehensive two semester sequence on economic theory:

• Microeconomic Theory I (HBS 4010/Economics 2020a)
• Microeconomic Theory II (HBS 4011/Economics 2020b)

Students must take four research methods courses, including one course in research design.

Courses that fulfill this requirement include, but are not limited to:

• Introduction to Econometrics (Econ 1123)
• Introduction to Applied Econometrics (Econ 2120); (Econ 2110. Introductory Probability and Statistics for Economists may be a required prerequisite)
• Econometric Methods (Econ 2140)
• Time Series Analysis (Econ 2142)
• Advanced Applied Econometrics (Econ 2144)
• Computational Economics (Econ 2149)
• Seminar in Applied Statistical Methods (HBS 4809)
• Intermediate Statistical Analysis in Psychology (Psychology 1950)
• Multivariate Analysis in Psychology (Psychology 1952)
• Intermediate Quantitative Research Methods (Sociology 202)
• Advanced Quantitative Research Methods (Sociology 203a)
• Analysis of Longitudinal Data (Sociology 203b)
• Probability Theory (Statistics 210)
• Multivariate Statistical Analysis (Statistics 230)

Research methods courses that meet the research design course requirement include, but are not limited to:

• Advanced Quantitative Research Methodology (Gov 2001)
• Design of Field Research Methods (HBS 4070)
• Empirical Methods in Corporate Finance (HBS 4220)
• Experimental Methods (HBS 4435)
• Matched Sampling and Study Design (Stat 240); (Stat 140 or Econ 1127 are strongly recommended as prerequisites.)
• Program Evaluation: Estimating Program Effectiveness with Empirical Analysis (HKS API-208)

Strategy students are required to take five additional doctoral courses.

• The Foundations of Strategy (HBS 4110)
• The Economics of International Business (HBS 4720)
• Analytical Methods for Strategy Research (HBS 4115)
• Advanced Topics in Strategy Research (HBS 4913)
• One of the following: Theoretical and Empirical Perspectives on Entrepreneurship: Organizational Economics and Growth (HBS 4351/Econ 2730) or Macro Topics in Organizational Behavior/Organizational Analysis (HBS 4480 or Soc 224) or Empirical Studies of Innovation and Digitization (HBS 4561)
• Two breadth courses

All students without an MBA degree are required to complete two case-based HBS MBA courses.

Students are strongly encouraged to attend and participate in seminars throughout their program. In the third year, students are required to attend:

• Strategy Unit Seminar
• Strategy Doctoral Workshop

Good Academic Standing

To remain in good academic standing, doctoral students are expected to maintain a B grade point average.

Teaching Requirement

Students must teach or assist with teaching in a formally offered course for one full academic term. This engagement should include, at least, 8 hours of front-of-class teaching and 16 hours of teaching preparation time. The requirement may be fulfilled by completing a teaching fellow or instructor assignment at a Harvard University.

Special Field Exam

Students are required to pass the Special Field Exam at the end of the second year. The exam consists of an oral portion in which the student will be examined on content from the student’s reading lists. The written component of the special field examination requirement requires students to submit a publishable paper. This paper must be approved (pass/fail) by two faculty members in the student’s unit.

Dissertation Proposal

By the end of their third year, all students are required to obtain approval of their dissertation proposal by their Dissertation Chair.

Dissertation

Students are required to write a dissertation, which typically takes the form of three publishable papers, to the satisfaction of their Dissertation Committee. The dissertation defense is oral and open to the public.

Strategic Management

Our doctoral program in Strategic Management trains students to produce high-quality research and teaching in the field of strategic management and prepares them to pursue careers as tenure-track faculty at top academic research institutions.

Our research, course development, and teaching draws on multiple disciplines, including economics, sociology, and political science. Our goal is to generate findings and develop concepts that help managers or entrepreneurs improve strategic decisions and to convey these findings to students and practitioners.

The Strategic Management faculty at Purdue is recognized as one of the top groups in the world in terms of both productivity and influence, and our PhD students consistently compete for and win Dissertation Awards in the Strategic Management and Entrepreneurship Divisions of the Academy of Management.

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Most Trusted #4

Morning Consult, 2022

Best Value School #7

The Wall Street Journal / Times Higher Education, 2022

Most Innovative School in the U.S. Top 10

US News and World Report, 2023

Want to Learn More? 

If you would like to receive more information about doctoral study in Strategic Management, please fill out the form and an Admissions Specialist will be in touch to connect you with a department representative!

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Program Details

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