Our PhD programme has been introduced in 2010 as a response to the Economics and Social Research Council (ESRC) sponsored Benchmarking Review of UK Economics. Building on our successful ESRC-recognised PhD/MPhil we have developed a new 2+2 American-style structure for our programme to meet the international standard demanded for a PhD-training in Economics. In the first year a MSc-equivalent training is provided, that is, year 1 will entail one of our well-established MSc courses (MSc Economics, MSc Econometrics, MSc Economics & Econometrics, MSc Financial Economics). Year 2 consists of advanced PhD level coursework and preparation of a detailed research proposal; direct entry into year 2 requires a prior Master degree of appropriate standard and content, such as at least a merit from one of the Manchester degrees mentioned above, or equivalent from elsewhere. Research is full-time in years 3 and 4, leading to submission of the thesis at the end of year 4 (although extensions to a 5th year for writing up are possible). Upon successful completion of the programme (whether entering in year 1 or 2), degrees of PhD and MRes will be awarded. Our training programme is part of the ESRC's newly accredited North-West Doctoral Training Centre (NWDTC) where Economics PGR training is provided jointly by us and our partner institutions from Lancaster and Liverpool.