Econ + Math undergrad, top 5 predoc

Math + Econ majors and Econ MA from T20

american with UK masters degree. received encouraging email from DGS (not addressed to me personally though, just “dear applicant” lol) informing me that i had made it to the last round of decisions, and ultimately the rejection was based on faculty availability/area distribution rather than qualifications. makes sense because i do asian american history and there's only one asian americanist in the faculty. email said there were over 225 applicants for less than 10 spots. looks like this cycle might be a shutout for me. 0a/1w/4r/1p.

Subfield is Middle East--GPA is BA and MA (1a/1w/6r/3p) it's Joever

Rejected PhD. Offered MS instead. No funding options.

Status update on portal

I consider myself a highly qualified candidate, having earned my previous degree from a top-ranked institution and exceeded all expectations. It's disappointing to learn that I was not offered admission and have been placed on the waitlist. While their email was warm and conveyed high regard for my application, it doesn't mitigate the letdown of not being their first choice for admission.