itolemma

I am interested in NYU for PhD in Mathematics, but I have noticed that they require 72 hours of graduate coursework: http://www.math.nyu.edu/degree/phd/ At a rate of 3-4 courses per term, this represents 3-4 years of solid coursework. When do students do research? Is there some catch? This figure is much higher than it is for any other program, and I'm curious as to how things work out in practice. I would greatly appreciate any advice.