While studying economics at the university in much greater detail, empirical macroeconomics and applied econometrics became my core scientific areas of interest. I made several years of extensive work experience on empirical macro, monetary policy and fiscal policy researches in different policy organizations. Additional to that I taught macroeconomics, econometrics and statistics in universities to make tight connection with my research profile. All this probably makes me a good researcher in my own country, but my objective is to become a strong economist in an international level. To achieve this purpose, I recognized that more advanced skills are need to be acquired to carry out solid empirical research. Therefore, I decided to pursue a Doctor of Philosophy in Economics at the Boston University to fill this gap. This brief note is written to give you an idea about my strengths and qualifications to help you in admission decision, by supplying information about my educational background, work experience and objectives.
Origin of my interest to mathematical economics, especially to econometrics appeared in the practical economic research undertaken during my undergraduate at the Baku Engineering University. I extended my research and defended as a graduation paper on the topic of “Relationship between bank credits and inflation: Econometrical analysis in the case of Azerbaijan during 1995-2009”. After graduating from the university I wanted to stay committed to academic filed, while getting offers from business sector. Eventually, got offer that I accepted to work at the Institute for Scientific Research on Economic Reforms (ISRER) under the Ministry of Economy of the Republic of Azerbaijan. At ISRER I was actively involved in developing macro econometric model within a project “Building Small-scale macro econometric model of Azerbaijan”. As part of the project with former teacher and college we published a working paper on “The Role of the Fiscal Policy in the Development of the Non-Resource Sector”.
While working with international experts, work at ISRER aspired me to pursue a master degree in US and got accepted to study Policy Economics in Williams College and Master of Economics in Boston University (BU). When Ministry of Education of the Republic of Azerbaijan made a decision on funding my education in BU, I was already started my summer camp in Williams College. In Williams College I have been taught by extremely good faculty. I happy to had a chance to work closely with professors Peter Pedroni and Kenneth Kuttner, while enjoyed challenging classes of Peter Montiel. Their attitude towards the students and professionalism inspired me to study further is to reach at least the same level of intuitiveness and panoramic view of the subject as my teachers have.
While the first semester was very challenging for me, I made it more challenging by taking independent study on “Central Bank Credibility and Black Market Exchange Rate Premia: A Panel Time Series Analysis” under the guidance of Professor Peter Pedroni. I was able to able to successfully defend my thesis and complete the program. The greatest part of my work was devoted to macroeconomic new panel time series data analysis.
My education experience Williams was so challenging and extremely interesting that, I decided to pursue my academic career by acquiring Ph.D. in US. However, I realized that before going to Ph.D. I need to advance my mathematical background. Therefore, just after coming back from the US, I took two calculus and one differential equations course from the Mechanical Mathematics department in Baku State University while lecturing on economics at Qafqaz University and Azerbaijan State Economic University. These experiences may show my qualification to complete Ph.D. program in the US.
To increase my odds, I also worked on adding some publications and research experience to my profile. Therefore, I started to work as an economist at Research department of Central Bank of the Republic of Azerbaijan (CBAR). Currently I am member of Modelling and forecasting division conduct various researches on econometric forecasting and general equilibrium modelling of Azerbaijan economy. Particularly my work focused on some aspects of DSGE modelling, business cycles and contributing to forecasting toolbox of CBAR. In line with these research directions I have participated in several advanced macroeconometric and forecasting courses taught by renowned professors. In general, the results of these research projects, which can be accessed from CBAR web-site, have successfully been utilized by CBAR and has been applied to in developing short term and medium term policy programs on a national scale. Throughout the working years in CBAR, I convinced that more advanced and systematic education is necessary to dig into the sophisticated models and to open more opportunities in international level.
Therefore, I believe that my educational background, work experience and my research interests make me a good candidate for the Doctor of Philosophy in Economics at the Boston University in your department. I have examined department of Economics at the Boston University and found that your department is appropriate for my career objectives by having excellent faculty members. In this respect my profile is very close to professors Robert G. King and Pierre Perron and I am very sanguine that I will be granted the chance of being their research assistant at Boston. I am sure your program in economics will serve me well in achieving my personal aims, and the inspiration I will get from your distinguished faculty will further boost my enthusiasm and dedication for a graduate degree in economics. I know I will live up to and exceed your expectations with my hardworking nature and my passion for economics. I am well motivated and qualified to be successful in your Ph.D program. I am looking forward to get the chance of working with your distinguished faculty and I wish to get the privilege of being in your Ph.D. class of Fall 2018.