PhD in Econometrics and Statistics
One of just a few programs of its kind, our PhD Program in Econometrics and Statistics gives you the scientific tools to create meaning from data in areas such as forecasting, analyzing demand and cost, model building, analyzing big datasets, and testing empirical implications of theories.
The program is designed for students who wish to do research in statistical methods that are motivated by business and economics applications. It also provides valuable insights into other fields, including marketing, finance, and economics.
Econometrics and statistics doctoral students have the freedom to develop a customized research program, combining courses in specific areas of business—such as economics, finance, accounting, marketing, or international business—with advanced courses in statistical methods.
Assistant Professor of Econometrics and Statistics and Robert H. Topel Faculty Scholar
Wallace W. Booth Professor of Econometrics and Statistics
Assistant Professor of Econometrics and Statistics; Liew Family Junior Faculty Fellow and Richard N. Rosett Faculty Fellow
Associate Professor of Econometrics and Statistics and William S. Fishman Faculty Scholar
Assistant Professor of Econometrics and Statistics and George C. Tiao Faculty Fellow
Robert Law, Jr. Professor of Econometrics and Statistics
Assistant Professor of Econometrics and Statistics, and James S. Kemper Foundation Faculty Scholar
Alper Family Professor of Econometrics and Statistics
Assistant Professor of Econometrics and Statistics and Asness Junior Faculty Fellow
Assistant Professor of Econometrics and Statistics, and John E. Jeuck Faculty Fellow
H.G.B. Alexander Professor of Econometrics and Statistics
Professor of Econometrics and Statistics
A Network of Support
Doctoral students at Booth have access to the resources of several research centers that offer funding for student work, host world-renowned scholars, and foster a strong research community.
The Becker Friedman Institute for Economics
With a mission of turning evidence-based research into real-world impact, the Becker Friedman Institute brings together the University of Chicago’s economic community. Ideas are translated into accessible formats and shared with world leaders tasked with solving pressing economic problems.
The Fama-Miller Center for Research in Finance
Tasked with pushing the boundaries of research in finance, the Fama-Miller Center provides institutional structure and support for researchers in the field.
James M. Kilts Center for Marketing
The Kilts Center facilitates faculty research, supports innovations in the marketing curriculum, funds scholarships for MBA and PhD students, and creates engaging programs aimed at enhancing the careers of students and alumni.
Some of the most important business and economic research in the world is published in journals conceived at Chicago Booth.
The Journal of Econometrics serves as an outlet for research dealing with the application of statistical inference to economic data, as well as the application of econometric techniques to economics.
Quantitative Marketing and Economics highlights research in the marketing, economics, and statistics categories. It focuses on problems that are important to marketing using a quantitative approach.
Alan L. Montgomery, MBA ’94, PhD ’94
Professor of Marketing
Tepper School of Business, Carnegie Mellon University
Alan L. Montgomery’s work focuses on the application of analytical methods to solve marketing problems. His fields of interest include electronic commerce, retailing, and consumer financial decision-making. He has a PhD in econometrics and statistics.
Damian Kozbur, ’14: 00:01
I went to graduate school in order to develop econometrics tools in conjunction with machine-learning tools in conjunction with economic theory in order to do inference for economic parameters. When you work in high dimensional estimation and you're dealing with problems where the number of variables you're looking at can potentially be in the millions, there's no way to visualize what's going on. Demands now really require that you can handle huge datasets. There's something really satisfying about studying a problem and studying it well. I would say Booth is an excellent place to do it. You have the flexibility to work on really risky problems where you're trying to navigate this landscape that nobody's ever really looked at before. You have an opportunity to dig deeper. You have an opportunity to be rigorous. The faculty is there to help you. They're trying to figure out the same kinds of problems. Things that you figure out cannot always be visualized and it cannot always be easily understood. That doesn't necessarily mean that it's not practical or not useful.
Damian Kozbur, ’14: 01:08
There's an incredible explosion in terms of the amount of data we have on everything. There is an incredible explosion in terms of our understanding of high dimensional econometrics. If you're doing innovative work right now, it will have an impact.
Research by Chicago Booth’s Dacheng Xiu and others suggests that today’s computers can predict asset returns with an unprecedented accuracy.
Three Chicago Booth researchers quantify the likelihood of machine learning leading business executives astray.
Research by Guanhao Feng, PhD ’17, Booth’s Dacheng Xiu, and others suggests that the hunt for investable factors has gone too far.
Program Expectations and Requirements
The PhD Program at Booth is a full-time program. Students generally complete the majority of coursework and examination requirements within the first two years of studies and begin work on their dissertation during the third year.
For details, see General Examination Requirements by Area in the PhD Program Guidebook.
Download the Guidebook