PhD Economics Qualifying Exam - I failed 1st attempt. And now?

[economicsLIFE]

Hello Grads,

I am new to the site, and I am bit sad writing this topic, but I wanted to share this with you all. I am an International student here in the US, and I just finished my 1st year in the PhD Program in economics. My school is somewhat competitive, it is ranked in the top 60 school in the US. The fact is that I failed my 1st attempt in the Microeconomics Qualifying Exam. I will be allowed a second try one year from now, and if I fail it again, I'll be asked to withdraw the Program.

A little bit about me, I really enjoy economics and economic research, and I consider myself good at it. My grades during the 1st were not all A, but they were good. I always make comments in classes and ask questions about the theory. The Qualifying Exam was 3h long, in class, and we had to pick 3 out of 4 questions. For those familiar with the topic, the problems were standard microeconomic problems, like profit and utility maximization and oligopolies. I studied for the exam doing what professors suggested, based on previous qualifying exams that even they handed to us. This Quals was pretty different from the previous years though, it was very challenging. I know my potential and I like economics. Just checking what you guys say, any suggestion or if someone faced a similar situation. Thanks guys, hope you rock in your Grad!

Edited June 15, 2016 by economicsLIFE