Mineral and Energy Economics

Decisions about minerals and energy shape global supply chains, investment strategy and long-term economic performance. These decisions sit at the intersection of economics, engineering and policy, where uncertainty, risk and capital intensity are the norm. As markets evolve and resource systems become more interconnected, organizations need economists who can go beyond standard models and produce rigorous, defensible analysis grounded in how these industries actually operate. 

A Doctor of Philosophy in Mineral and Energy Economics from Colorado School of Mines prepares you to lead that work. This is the only program of its kind in the United States, combining applied economics with deep integration across minerals, energy and environmental systems. Mines is widely recognized as one of the top institutions globally for mineral and energy education, and that context shapes everything about this degree. 

At Mines, economic research is not theoretical in isolation. It is informed by engineering, geoscience and real-world systems. You will work alongside faculty who are actively engaged in applied research across areas such as global climate policy, energy demand, price forecasting, utility regulation, asset valuation, critical minerals and international markets. This concentration of expertise and focus is unmatched in traditional economics programs. 

Through this program, you’ll develop advanced quantitative and analytical skills, learn to frame meaningful research questions and produce work that informs high-stakes decisions across industry, government and academia. You graduate with a distinctive, highly regarded degree that positions you to make significant contributions to the future of energy, minerals and the environment. 

Program Overview

The Mineral and Energy Economics PhD is a leading doctoral program housed in the Economics and Business department.

The PhD program is designed for those who want to produce meaningful economic research in mineral or energy systems and contribute new insight to the field. You’ll begin with a strong foundation, completing the same first-year core as master’s students before moving into advanced electives that deepen your expertise and shape your research direction. From there, the focus shifts to original research. Working closely with faculty, you’ll develop and execute a thesis that meets professional standards and addresses real-world challenges in minerals, energy or environmental economics. Along the way, you’ll pass a series of qualifying exams after your first and second years and assemble a faculty committee to guide and evaluate your work.

The program includes 48 credit hours (16 courses) of structured coursework, paired with 24 credit hours of research conducted under the supervision of your thesis advisor. Most students complete the program within four years, graduating with the analytical rigor, research experience and subject-matter expertise to lead in academia, industry or policy. What you’ll study and do 
Your coursework includes advanced economic theory and quantitative methods, along with specialized courses related to mineral and energy markets. Topics may include resource economics, industrial organization, investment analysis, market design, risk and uncertainty and econometric modeling. Coursework is selected to directly support your research rather than stand apart from it.

The center of the program is independent research. You will identify an economic problem relevant to mineral or energy systems, design a rigorous analytical approach and generate results that make an original contribution to the field. Research methods may include theoretical modeling, empirical analysis, econometrics and applied economic evaluation. You will work closely with a faculty advisor and committee and complete proposal, candidacy and dissertation defense milestones.

What it takes to complete the PhD at Mines 
Completion of the PhD requires advanced coursework, successful completion of qualifying and candidacy requirements and a defended dissertation. As an on-campus program, the experience emphasizes immersion in research, close interaction with faculty and engagement with seminars and scholarly discussion. Mines’ applied environment ensures your work stays connected to real markets, industries and decision contexts.

After completing core coursework, you’ll take a series of qualifying exams to advance to PhD candidacy. Exams at the end of your first year assess mastery of microeconomics and quantitative methods, including econometrics, while second-year exams evaluate your ability to conduct independent research.

As your research progresses, you’ll defend a thesis proposal and present a dissertation chapter or research paper in a Mines seminar. This work must meet professional standards as determined by faculty reviewers, and your committee may require additional assignments or examinations aligned with your research focus.

The program culminates in a final oral defense of your dissertation. Upon committee approval, your thesis is submitted to the Graduate School.

You and Mines PhD: A Right Fit?

You will likely thrive in this program if you:

• Enjoy messy, real-world problems where the “right” answer depends on constraints and tradeoffs
• Can move between details (models, data, experiments) and the big picture (system behavior, decisions)
• Are comfortable working across disciplines and learning what you need as your research evolves

Program Opportunities

Reciprocity Agreement with the University of Denver in Law and Economics Program. Students enrolled in the M.S. Mineral Economics Program at Mines or the Juris Doctorate Program (JD) in Law from the University of Denver may under the reciprocal agreement complete 6 approved credits at either school by enrolling for the courses at both Registrar Offices. PhD and JD students may have the opportunity to double count up to 12 credit hours towards both programs; see your advisor for more information. Applicants must apply to each program separately.