About the PhD program
The program aims to help potential PhD candidates in economics in applying to top-ranked PhD programmes abroad, and provide financial support to candidates accepted to such PhD programmes.
Subprogram 1 – Junior Researcher
The first par of the program provides an internship (Junior Researcher) at Norges Bank to accepted candidates. The internship will take place 2 + 10 months prior to entering the PhD programmes, during which period the candidate will prepare and submit their applications. In addition, students will work as a Junior Researcher on relevant projects at Norges Bank.
The duration of the internship is two months initially. Since relevant educational institutions require high scores on the GRE (Graduate Record Examination), the student will primarily focus on preparing for the GRE in this period.
An extension of the internship by an additional 10 months is conditioned on attaining a sufficiently high score on the quantitative reasoning section of the GRE, which will be specified in the contract of employment. The internship is in any case limited to 12 months per student.
Students that are accepted to a PhD program at an eligible institution can apply for financial scholarship from Norges Bank according to criteria described below. Internship as Junior Researcher at Norges Bank does not automatically entail financial scholarship, as candidates must compete with other applicants that are not, or have previously been accepted to subprogram 1.
Subprogram 2 – Financial ScholarshipStipend
Norges Bank may award a financial scholarship in the amount of NOK 185 000 annually per student.
The financial scholarships will be awarded on an annual basis for the duration of one academic year at a time. The financial scholarship may be extended for another academic year as long as the student remains enrolled in the PhD program with adequate academic progress (see the diagram on the last page), up to a total of five academic years.
Norges Bank will award no more than three new entries per year. The Scholarship will be reduced by the same amount as the financial support awarded from other Norwegian entities.
Qualified candidates may apply to any of the two subprograms. The candidates will be evaluated for each subprogram separately. PhD students may apply to the scholarship program in any stage of their studies, but may only apply for a scholarship for the remaining stages of their PhD program. However, the financial scholarship for the final year is only available to students who previously have been awarded a scholarship from Norges Bank.
For internship Junior Researchers
The Junior Researcher must enter into a standard Norges Bank agreement for temporary employment. The Junior Researcher is expected to prepare and submit applications for eligible PhD programs, write a research paper, which should be published in a Norges Bank series (e.g., Working Paper, Research Letter or Staff Memo) and provide research assistance to Norges Bank researchers, as decided by the Research Director.
For scholarship recipients
The recipient must enter into an agreement with Norges Bank (Agreement), which sets out the obligations of the applicant under the scholarship program. The host institution may also as far as required be part of this agreement. Financial support is conditional on sound progress throughout the PhD program documented in annual progress reports.
PhD scholarships awarded
David J. Henning og Hans Christian Wika
Christine Blandhol og Helene Olsen
Johan Vorum Moen
Eyo Ildahl Herstad
Kaja Kierulf, Erling Skancke and Jonas Tungodden
Ella Getz Wold and Sigmund Ellingsrud
Gro Mæle Liane, Mathis Mæhlum and Vegard Mokleiv Nygård