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Ph.D. Programme in Economics

The Ashoka approach to Economics is fundamentally about bringing together cutting edge economic theory and rigorous data analysis to address questions at the frontiers of research. Our faculty members are engaged in active research in applied microeconomic theory, game theory, decision theory, development economics, labour economics, health economics, public economics, political economy, behavioural economics, experimental economics, economics of discrimination, macroeconomic theory, empirical macroeconomics, monetary economics, and international finance.


Applications to the PhD Programme which starts in August 2023 will open on December, 2022 and will close on 31st March 2023. Applicants must apply through the online admissions portal. Admissions to the PhD Programme will be based on a written entrance examination as well as an interview. The entrance examination will be held online on 4th May, 2023. Shortlisted candidates will be called for an interview. Applicants with an MSc/MA/MCom/BTech degree with at least 55% or an MPhil/MTech degree with at least 55% are considered eligible

Entrance Examination

The  Ph.D.  economics entrance examination will have two parts. The first part will test applicants on statistics and mathematics. The second part will test applicants on microeconomics, macroeconomics and econometrics at the level of entry to the first year of the Masters Programme in Economics in any standard Economics programme in the country. All questions will be multiple choice. Topics covered will include the following

Microeconomics: Theory of consumer behaviour; theory of production; market structure; general equilibrium and welfare economics; international trade; game theory – normal and extensive forms, Nash and sub-game perfect equilibrium.

Macroeconomics: Theories of income determination, neoclassical models of growth, infinite horizon and overlapping generation models, nominal rigidities, theories of unemployment, fiscal and monetary policy.

Econometrics: Random variables, statistical inference, linear regression (including regressions with dummy variable regressors), multicollinearity, autocorrelation, omitted variables, measurement error, instrumental variables.

Indicative textbooks include Advanced Microeconomic Theory by Geoffrey A. Jehle and Philip J. Reny, Advanced Macroeconomics by David Romer, and Introductory Econometrics by James Wooldridge. However, questions will not necessarily be based on these books alone.


The Ph.D. fellowship for Junior Research Fellow is Rs 38,000 and for Senior Reseach Fellow is Rs. 43,000. Students will also be offered housing on campus if available; if not, they will be paid a monthly rent allowance of Rs 7,500. Ph.D. students will also be expected to work as Teaching Assistants on specified courses. Information on fees is available on the Ph.D. Program page.

Ph.D. Students

Study at Ashoka

Study at Ashoka