Training young researchers: Successful strategies from University of Chicago college economics

The authors summarize successes in training researchers in the University of Chicago economics program over the last 15years. Students learn to investigate quantitative relations using models in which purposeful but constrained economic agents interact. They are shown how a productive research culture requires careful work, collegiality, and honesty. Preparing students to perform economics research is a multi-year effort, with clear sequences of ordered coursework and research practice. When advice is signaled early and often to all, motivated students heed that advice and do well. Chicago regularly puts 5 percent of its majors into top PhD programs, for a combined total of 140 over the past 15years.