Open #CdnEcon Q:

With an MA in Economics from a top Canadian school and a goal to help shape economic policy (in Canada):

Is a Masters in Public Policy helpful?

In what circumstances should they pursue a PhD in Econ?

cc @LindsayTedds @kevinmilligan @MilesCorak @tammyschirle

...Initial thought: I’d say it really matters the role you think you want to play.

If you don’t have a deep desire to publish in academic journals, then a PhD in Econ is great technical training, but is likely more than is needed to contribute as a practitioner.

...If you want your primary contribution to public policy to be your own research, then the PhD is a sensible path.

That said, I know lots of people doing excellent, applied policy-relevant research without having a PhD.

...And if you only intend to work in government and not in academia, the monetary return to doing an Econ PhD isn’t high (and may well be negative).

Doing a PhD is really challenging on its own, and pursing the tenure-track path at universities is also very difficult.