For a student who enjoys history and statistics, economic history may be a good choice for higher education. The field combines these two disciplines to understand how economic theory applies to historical situations and institutions.

The PhD is a doctoral degree, specifically called a "doctor of philosophy" degree. This is misleading because PhD holders are not necessarily philosophers (unless they earned their degree in philosophy!). That said, PhD recipients are able to engage in thought experiments, reason about problems, and solve problems in sophisticated ways.