Economics

The Department of Economics is dedicated to two central missions: training undergraduate and graduate students in the methods and ideas of modern economics, and conducting path-breaking research that pushes forward the frontier of economic knowledge. Rising to international prominence following World War II, the department has long been recognized as a world-class center for economic theory and empirical analysis.

Our department is characterized by a rich, highly collaborative, and interdisciplinary intellectual environment. Leveraging our unique proximity to Silicon Valley, Stanford economists combine traditional economic tools with modern analytic methods and big data to shape both academic thought and real-world policy.

Academic Programs and Quantitative Training

The Department of Economics provides rigorous, highly quantitative educational pathways designed to equip students with the analytical tools needed to understand global markets, human behavior, and public policy:

• Undergraduate Programs (B.A., B.S., and Minor): Offering both Bachelor of Arts and Bachelor of Science pathways that expose students to traditional economic principles and cutting-edge empirical research. These programs serve as an excellent foundation for graduate work in law and business, Ph.D. programs in Economics and Finance, or direct career entry into private corporations and public policy sectors. Economics coursework provides a powerful, applied complement to mathematics, computer science, and statistics.

• Graduate Program (Ph.D.): A premier, research-intensive doctoral program training students as elite research economists, scholars, university teachers, and economic analysts. Admitting approximately 25 new students each year, the program features a comprehensive curriculum in modern theory and empirical techniques, field courses taught by discipline leaders, weekly seminars, and active research workshops. Students also benefit from cross-departmental study with the Department of Statistics, the Graduate School of Business, and the Department of Sociology.

Research Frontiers and Policy Impact

Stanford economists have made foundational contributions across the discipline, combining deep theoretical frameworks with advanced empirical analyses to resolve critical societal issues. Key areas of scientific inquiry and research support include:

• Economic Theory and Market Design: Continuing a historic tradition of pioneering research in general equilibrium theory, game theory, the economic analysis of networks, and the creation of market design frameworks.

• Applied and Empirical Economics: Leveraging big data, statistical modeling, and machine learning to analyze the underpinnings of modern monetary policy, design spectrum auctions, build public school student-matching systems, and formulate policies that increase social mobility and higher education access for disadvantaged students.

• Interdisciplinary Collaborations: Working in tandem with scholars across the university, including the School of Medicine and the Graduate School of Business, to address complex socio-economic challenges.

• Stanford Institute for Economic Policy Research (SIEPR): Supporting applied, policy-relevant research by providing critical infrastructure, funding, and a collaborative environment for faculty, students, and a large cohort of visiting scholars.