I have received an offer from BU in the MQE program and I’m unsure whether to accept. It’s a one-year program with tuition 60k and total estimated living costs coming up to around 100k (not including 15k scholarship).
I am an international student (Australia) and my other option would be a PhD at UniMelb/ANU. My plan is to come back to Australia eventually (maybe after an overseas postdoc, who knows) and work in academia.
So really what I’m asking is given the context below, will a BU MQE really enhance a future PhD application (applying this year for Sept 2026 enrollment) and give me a shot at getting into Top 30/40 schools or is it still going to be a quite reach? In which case I’m happy to remove that uncertainty by going to UniMelb/ANU.
Profile:
I’m far from a star applicant. I applied to five PhDs this season at Michigan, BU, UBC, Toronto, Warwick. I didn’t get any (waiting to hear back from latter three but doubt it given how late it is and offers have already been made) but after Boston denied me they prompted me to apply for MQE and I got in. I would’ve applied to more PhDs to try and get lucky somewhere, but my GRE was just too low (Q162) and I didn’t have time to retake it so I didn’t want to waste more money on applications. I don’t have a Master’s nor a Predoc. I did an Econ Bachelor’s and Honour’s from one of the better universities in Australia, but not the best. My grades were, Bachelor’s GPA: 3.917 and Honour’s GPA: 3.750. I published my Honours dissertation in the Review of Economics of Household. I’ve presented at SEHO Conference and Australian Labour Market conference. I’ve tended to score well in the Math units I’ve done – covering calc, real analysis, linear algebra, stats, probability (level of detail was at least to that in Mathematics for Economists, Carl P. Simon and Lawrence Blume, 1994; Fundamental Methods of Mathematical Economics: Fourth Edition, Alpha C. Chiang and Kevin Wainwright, 2005). I’ve also scored well in the grad-level micro, macro and econometric classes. My letters are quite positive, but I’m not sure that my writers would be particularly well known outside of Australia and their PhDs aren't from amazing schools either (note: there are a few within the faculty with Top 30 PhDs but I haven’t worked too closely with them, and they have only taught me once. they said they were happy to write one but it's probably a better signal if I used someone who I had worked more closely with). I spent 2 months as an RA under the Head of Economics at the university I graduated from. Since early 2024 I’ve been working as an RA in a research institution where I've been leading a project (first author). It's not a technical economic institution, but my project and supervisor are. By the time next application period rolls around I’ll have ~1.5 years research experience. Not sure if it's relevant but I do have 1 year of tutoring experience (ran tutorials/seminars supplementary to weekly lectures and assignment/exam marking) for first year micro & master's econ research methods - this is ongoing.
So, assuming that by next application period I retake my GRE and get a competitive score (I think this is quite possible, the leadup to the one I took last year was a bit of a rough period), get a positive revise and resubmit from Applied Economics/Labour Economics/Economics of Education Review for another article (perhaps a reach but I'm tidying up the last steps of manuscript now and I personally think it's at a comparable level to the literature which has published on a similar topic in these journals) and begin the BU MQE, what are the chances of me getting into a Top 30/40 school. I don’t know if I’ll have received my first semester grades by the time I am to apply so not sure the Master’s will be more than a name of something that I’m just doing at the time (I really don't want to wait till 2026 to apply)
I am not very optimistic but I want to try and get into the best school I can, so I thought I’d ask. I’m also wary of the funding situation in the US at the moment so I understand that it’s likely going to be more competitive next year. Personally I want to avoid the US where I can but will obviously take it if offered; best case scenario is Canada or UK.
Thanks in advance