Columbia University, based in New York, NY offers a fully funded PhD in Economics. Students in this program do research in all major areas of economics including microeconomics, macroeconomics, econometrics, international economics, labor economics, public finance, industrial organization, development economics, and urban economics. The department provides strong training both in theoretical economics and in applied and empirical economics. Columbia offers multi-year, financial aid packages to admitted students including fellowships and appointments to teaching and/or research positions. Ph.D. students receive an annual stipend, tuition, and health fees for five years if they remain in good academic standing.