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How I should be preparing myself for the rigorous curriculum of graduate school?
I am a Junior Bs Economic major and considering pursuing my doctorate.
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Dr. Drew’s Answer
First I would suggest you look at why you want a doctorate. Many people pursue the degree expecting to become a professor. This is a lofty goal, but firstly you should feel comfortable in the academic environment. It is very different than industry. Secondly, look at your prospects for your degree. Often times there can be over 100 applications for every opening, thus limiting your chances. Then if you make it through all the hurdles, you often make much less than industry offers.
Some fields may benefit from a doctorate, some actually lower your earning potential (https://grad.msu.edu/phdcareers/career-support/phdsalaries). But on the opposite end of the spectrum, some fields offer much better industry pay then a masters. It just depends on what you are doing, so it pays to look deeply into the field and see if the degree is worth it. In economics jobs there are many government jobs that deal with economic policy that pay well, but there are not many of them.
I'm not trying to discourage you, just provide some insight into the situation. You should also know that a doctorate is not like a Bachelor or Master's degree. In those degrees your primary goal is to internalize and process information already created. In a doctorate (at least the PhD and some others) focus on research and creating new knowledge. You will also work closely with and advisor or PI that acts like a mentor in getting you through the degree. For much of the process you will be on your own with input from your mentor. Having an advisor that you get along with and communicates with you can make or break your degree in some cases, so take the time to research and investigate any potential advisors. A bad advisor can mean you spend years working on your degree to only come up short because you can't get any direction. My personal opinion would be to look at the advisor first and school second. The name of the school means nothing for your career if you can't finish your degree. A good way to start is look at major papers in your field and see which papers are getting cited. Look at reviews for those professors and try to meet with them and have a discussion. Are they excited about the same things you are? Do they dismiss you? Pay attention to how they treat you as this is likely indicative to how your relationship with them will go.
First piece of advice if you decide to pursue your degree: learn how to use a citation manager. You will read, many, many papers and you want to track them in case you need to cite them later. Being able to manage your time and not procrastinate will help greatly. Much of your time will not be directed and you will be expected to do most of the tasks on your own.
Get used to the concept of being uncertain. PhDs doing research are looking at creating new knowledge and that means you cannot simply look up someone else's work for the answers. You need to be the one finding and explaining new concepts. Knowing how to find the information means more than simply knowing it.
Always network. Many doctorate students think jobs and opportunities will simply fall in their laps once they have the degree. Networking, especially at conferences and events in your field, can help you find new areas or research and new job opportunities.
Nothing I say will fully prepare you, but if you can follow this advice you will be well ahead of your cohorts in the program. Hope this helps!
Some fields may benefit from a doctorate, some actually lower your earning potential (https://grad.msu.edu/phdcareers/career-support/phdsalaries). But on the opposite end of the spectrum, some fields offer much better industry pay then a masters. It just depends on what you are doing, so it pays to look deeply into the field and see if the degree is worth it. In economics jobs there are many government jobs that deal with economic policy that pay well, but there are not many of them.
I'm not trying to discourage you, just provide some insight into the situation. You should also know that a doctorate is not like a Bachelor or Master's degree. In those degrees your primary goal is to internalize and process information already created. In a doctorate (at least the PhD and some others) focus on research and creating new knowledge. You will also work closely with and advisor or PI that acts like a mentor in getting you through the degree. For much of the process you will be on your own with input from your mentor. Having an advisor that you get along with and communicates with you can make or break your degree in some cases, so take the time to research and investigate any potential advisors. A bad advisor can mean you spend years working on your degree to only come up short because you can't get any direction. My personal opinion would be to look at the advisor first and school second. The name of the school means nothing for your career if you can't finish your degree. A good way to start is look at major papers in your field and see which papers are getting cited. Look at reviews for those professors and try to meet with them and have a discussion. Are they excited about the same things you are? Do they dismiss you? Pay attention to how they treat you as this is likely indicative to how your relationship with them will go.
First piece of advice if you decide to pursue your degree: learn how to use a citation manager. You will read, many, many papers and you want to track them in case you need to cite them later. Being able to manage your time and not procrastinate will help greatly. Much of your time will not be directed and you will be expected to do most of the tasks on your own.
Get used to the concept of being uncertain. PhDs doing research are looking at creating new knowledge and that means you cannot simply look up someone else's work for the answers. You need to be the one finding and explaining new concepts. Knowing how to find the information means more than simply knowing it.
Always network. Many doctorate students think jobs and opportunities will simply fall in their laps once they have the degree. Networking, especially at conferences and events in your field, can help you find new areas or research and new job opportunities.
Nothing I say will fully prepare you, but if you can follow this advice you will be well ahead of your cohorts in the program. Hope this helps!
Updated
Joyce’s Answer
If you are planning on a Ph.D. in economics, first, make sure that your background in math and statistics is strong. In today's world, most dissertations are heavily dependent on mathematics. Second, pay attention to your current studies and learn as much as you can both in class and outside. There are many fields in economics. It is good to think about what specific area of economics you hope to pursue.
Drew's advice is also good - but more general.
Remember, if you aren't really in love with your field, a Ph.D. is a long process that you are likely to find boring. If the idea of research doesn't excite you, think about what you really enjoy doing and what preparation you need for that field. Don't just go to graduate school because you think it is essential for a good job. It is often a good idea to work for a couple of years after completing your bachelor's before graduate school. This gives you a chance to decide what you really want to learn and to develop a fund of knowledge in your field as well as an idea of what areas interest you and which do not. Many graduate schools prefer applicants that do not come directly from undergraduate studies.
Drew's advice is also good - but more general.
Remember, if you aren't really in love with your field, a Ph.D. is a long process that you are likely to find boring. If the idea of research doesn't excite you, think about what you really enjoy doing and what preparation you need for that field. Don't just go to graduate school because you think it is essential for a good job. It is often a good idea to work for a couple of years after completing your bachelor's before graduate school. This gives you a chance to decide what you really want to learn and to develop a fund of knowledge in your field as well as an idea of what areas interest you and which do not. Many graduate schools prefer applicants that do not come directly from undergraduate studies.
I appreciate this, thank you for the advice.
Corry