The UTS program offers a first-rate foundation in economics through a variety of courses taught by internationally renowned scholars, as well as world-class research opportunities. This outcome is achieved via a program of core PhD subjects, taken by all students in the first year of the PhD. This sequence of courses in microeconomics, macroeconomics and econometrics provides the concepts and analytical tools required of every economist. Students develop expertise through field study subjects taken in the second year of the program. Students spend the third and fourth years of the program engaged in research and producing a PhD thesis.