Admission is limited to students whose undergraduate record shows a genuine capacity for advanced work in the field of economics. An economics major is not a prerequisite, but some previous training in economics is essential (the intermediate level micro- and macroeconomic theory courses are the most important). Training in calculus, linear algebra, differential equations, and probability and statistics is also essential and grades received in these courses are important factors in the admission decision. When appraising an applicant's scholarly promise, however, the faculty looks not merely at the academic record but also at letters of recommendation, the applicant's statement of purpose and the results of the Graduate Record Examination. Successful applicants will demonstrate strength in all areas of the application process.