Students complete most of the course work for the PhD 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 are composed of at least six electives (typically in math, economics and econometrics) in addition to two PhD-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. PhD-level finance courses include:

ECON 651 Empirical Asset Pricing

FIN 855 Fundamental of Inv Decisions with Symmetric Info  

FIN 865 Theoretical Models in Finance 1  

FIN 871 Corporate Finance  

FIN 872 Theoretical Models in Finance 2

FIN 873 Structural Estimation in Corporate Finance  

FIN 875 Empirical Methodology in Finance  

FIN 885 Research Topics in Finance  

FIN 900 Special Research for PhD Applicants & Candidates  

FIN 990 Dissertation - Pre-candidacy  

FIN 995 Dissertation - Candidacy 

The finance department sponsors two seminars per week, and PhD 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 assistants.

Students and faculty also run a weekly reading group to discuss recent research papers. Topics alternative between asset pricing and corporate finance.

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.