During the first year, usually you’ll be exposed to full-year sequences in both micro and macroeconomics, usually with an econometrics sequence. (Note that this is more than enough to keep a student entertained throughout the first year.) If you come from a very competitive undergraduate / master’s program, chances are you are familiar a great deal of the material. If not, now it’s the time to learn it well. Take your time to do so; it’s not a race against time or your classmates to see who can master the material first. .