About the Finance PhD Program
The main objective of the program is to produce
outstanding researchers who can be placed in the world's top academic finance departments.
Doctoral students in finance at the Stephen M. Ross School of Business
have access to a large, active and collegial finance faculty with diverse
research interests. The faculty devotes significant resources to the Ph.D.
program, recognizing that having a top Ph.D. program is critical to maintain
an outstanding research environment. The relatively small number of students
ensures quality interaction with the faculty. Faculty research
interests span all areas of Finance. For example, research on
mortgage markets, financial institutions, and the shadow-banking system
undertaken by Ross finance faculty and PhD program graduates has generated
important insights about the factors that lead to the recent financial
crisis and its calamitous economic consequences. Topics of recent
research interest by our faculty further include corporate governance and
the role of boards, corporate investment policy, investor behavior,
liquidity and asset prices, and global financial markets.
Students complete most of the course work for the Ph.D. during the first
two years of the program. Because doctoral-level classes in micro-economic
theory, mathematical economics, statistics and finance are among the first-year
requirements, strong prior preparation is essential.
Courses during the second year comprise at least six electives (typically
in math, economics and econometrics) in addition to two Ph.D.-level finance
courses, one each semester. Students take two more doctoral seminars in
finance during the third year. For the remainder of the program, they
typically take one course per term in an area related to their research.
Fundamental of Inv Decisions with Symmetric Info
Continuous-Time Asset Pricing
Empirical Methodology in Finance
Research Topics in Finance
Special Research for PhD Applicants & Candidates
Dissertation - Pre-candidacy
Dissertation - Candidacy
The finance department sponsors two seminars per
week, and Ph.D. students are active participants in both seminars. To
become proficient in the art of research, students produce a literature
review during their first summer and a research paper during their second
summer. They present their work in departmental seminars during the academic
year. Students are also assigned to work for faculty members as research
PRELIMINARY EXAMINATION AND CANDIDACY
Exams covering finance and related areas typically take place at the
end of the second year. Students advance to candidacy by passing the exams
and completing the two research papers. The remainder of the program is
devoted to the dissertation.