Just asking for the heck of it. I know that some universities like George Mason and NYU provide PhD programs in Austrian Econ and it sounds interesting. But is it worth it to spend 4-6 years working on a PhD in a field most people don’t understand?
Also, if it was you looking to get such a degree, what university/universities would you apply to and why?
I would only do it if I could get in a highly ranked program such as NYU. You will have better job prospects after graduating from such a program. While in grad school I would work on public speaking and look to become a public intellectual after graduating.
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Are there any reputable online graduate economics programs in the U.S.?
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Only you can answer that question. It’s worth doing a PhD if you’re genuinely interested in the subject, and want to take it to the most intellectually rigorous and demanding level. It doesn’t matter if the school you’re going to is highly ranked (you can always publish in top journals regardless of what university you attend) or if other people are/aren’t bored by economics; that’s not the point of doing a PhD. Bottom line: only do a PhD if you’re serious about an academic career.
"become a public intellectual after graduating. "
How does one go about doing that? Writing books?
Specializing in Austrian Economics (as opposed to other branches of economics) will very probably doom you to a low-paying job in an unremarkable school. Do it only if you love to teach and study economics - don’t expect much recognition or glory. Understand that you will also have to learn - and, probably, teach - mainstream econ as well.
Given how much they pay community college professors, “low paying job” is relative.
There is already an oversupply of economists.
@Caley McKibbin
If only there were an oversupply of good economists…but alas, it is not to be.
If I was pursuing a Ph.D from an elite university, I would try to incorporate some of my dissertation research into a popular book. I would then try to get involved with the Mises Institute similar to how the other Mises scholars did.
The only university that offers a PhD in Austrian economics is GMU. NYU lists Austrian as a specialization, but consider that you’ll have to take two years of micro/macro theory, econometrics and pass comps too. Plus, you might not even get in if you don’t have enough math under your belt.
If you’re going to go for a PhD in econ, you should be prepared to specialize in other fields.
Top marks for Claudius for a smart but succint answer.