ɹˈæmsi ˈɜːnd ɐ bˈætʃəlɚɹ ʌv sˈaɪəns dᵻɡɹˈiː ɪn bˈɪznəs ɐdmˌɪnɪstɹˈeɪʃən fɹʌm wˈɛstɚn kɛntˈʌki jˌuːnɪvˈɜːsᵻɾi ɪn nˈaɪntiːnhˈʌndɹɪd sˈɛvənti, ænd ɐ mˈæstɚɹ ʌv ˈɑːɹts ænd pˌiːˈeɪtʃ.dˈiː. ɪn ˌiːkənˈɑːmɪks fɹʌmðə jˌuːnɪvˈɜːsᵻɾi ʌv kɛntˈʌki ɪn nˈaɪntiːnhˈʌndɹɪd sˈɛvənti tˈuː ænd nˈaɪntiːnhˈʌndɹɪd sˈɛvənti fˈoːɹ, ɹᵻspˈɛktɪvli.
Ramsey earned a Bachelor of Science degree in Business Administration from Western Kentucky University in 1970, and a Master of Arts and Ph.D. in Economics from the University of Kentucky in 1972 and 1974, respectively.