Streams : The 1+3 stream consists one year of PhD level teaching followed by 3 years of research. The 1+1+3 stream consists of one year of MSc teaching followed by the 1+3 stream. High level of performance: Achieving, to the very least , an average of 65% in coursework with no unit marks below 55% for both UG and PG degrees as well as 65% mark for dissertation. Normally, offer holders tend to achieve much higher standards than this. Degree Requirement : Economics degree training should be equivalent to the training given at the University of Manchester. Applicants with degree in quantitative fields other than economics will be considered on a case by case basis. We will not normally consider applicants whose previous studies have been in non-quantitative fields. GRE is mandatory for all applicants. It is used as one component out of many in our considerations. We are looking for the 'right fit' for the PhD programme and use all of the admissions criteria to make a decision. A very high score does not necessarily give a stronger chance of admission and a lower score does not automatically eliminate a candidate. Nevertheless, in previous years offer holders did not normally score bellow 160 in the quantitative section.