The book is quite difficult in parts so you'll want to have a good background in microeconomic theory before you tackle this one. From what I can tell, Microeconomic Theory by Mas-Colell, Whinston, and Green is standard in many Ph.D. programs. I thought the book The Best Test Preparation for the GRE Economics was quite useful, but it's gotten absolutely horrid reviews. One book that is used quite often is Recursive Methods in Economic Dynamics by Nancy L. Stokey and Robert E. Lucas Jr. I would recommend reviewing the book Intermediate Microeconomics: A Modern Approach by Hal R. Varian. Your best bet is to see what books are used in the school that you would like to attend. I've found that the most successful students in the first year of a Ph.D. program tend to be ones with mathematics backgrounds, not economics ones. The advice in this article will mainly apply to those who are interested in entering a Ph.D. program in the United States or Canada, but much of the advice should also apply to European programs as well. The GRE General test covers three areas: Verbal, Analytical, and Math. After doing so, you may want to read the book Public Choice II by Dennis C. Mueller. Romer is very advanced undergraduate level or early postgraduate. At the University of Rochester we used a book called A First Course in Optimization Theory by Rangarajan K. Sundaram, though I don't know how widely this is used. The advice I'm going to give is for students who are going to a school that teaches more of a "Chicago" style approach. The Graduate School Guide also has some useful links on the GRE. The more you can learn before you enter the Ph.D. program, the better you will do. It is an absolutely fabulous resource and, unlike most books in economics, it's well written. Next textbook up is Advanced Macroeconomics by David Romer, who is Herman Royer Professor in Political Economy at UC Berkeley. I was fortunate enough to have macroeconomics courses taught by Per Krusell and Jeremy Greenwood and you could spend an entire course or two just studying their work. I haven't even discussed all the great books available in subjects such as Public Finance and Industrial Organization. The material in the book has almost nothing to do with economics, but it will help you greatly when working on proofs. Most schools also require you to take at least two courses in microeconomics, and often these courses are the most difficult you'll encounter as a graduate student. There are other analysis books that are slightly better, but you cannot beat the price. You can usually pick up a good Econometrics text for very little money at a large second-hand book shop. Instead of learning more Macroeconomics, it would be more helpful to learn more on dynamic optimization. Macroeconomics, 10th Edition. It has a quite diverse set of topics, all of which are useful tools for economic analysis. If you have a good understanding of real analysis, you will have no trouble with this book, and you'll do quite well in the obligatory Mathematical Economics course they have in most Ph.D. programs. There are a couple of books that have practice questions that you may want to look at. Principles of Macroeconomics is an adaptation of the textbook, Macroeconomics: Theory, Markets, and Policy by D. Curtis and I. Irvine, and presents a complete and concise examination of introductory macroeconomics theory and policy suitable for a first introductory course. There are many ne textbooks for macroeconomics at the intermediate level currently available. It's as useful as any other undergraduate text I've seen on Econometrics. Economics can be a great field in which to do your Ph.D., but you need to be properly prepared before you enter into a graduate program. You do not need to have any knowledge of partial differential equations before entering graduate school, as they are generally only used in very specialized models. The more real analysis you know, the better you will do. If the movie A Beautiful Mind didn't make you frightened of the work of John Nash you may be interested in A Course in Game Theory by Martin Osborne and Ariel Rubinstein. Most schools require you to take one or two tests as part of your application requirements. If you study macroeconomics at an advanced level, you will come across this book. When I took Ph.D courses in Macroeconomics a few years ago we didn't really use any textbooks, instead we discussed journal articles.
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