As a PhD student in finance, you will research three basic areas, investments, corporate finance and financial institutions. See the curriculum below to guide you through your program with the support of your faculty advisor.
Doctoral research course in the area of finance.
Credits: variable
Semesters offered: Fall 2024 | Spring 2024
Fall 2024 (08/26/2024 - 12/09/2024)
| Reg. Num. | Section | Type | Topic | Days | Time | Location | Instructor |
| 11407 | F1F | TUT | ARR | Arr Arr | Fotak, Veljko N | ||
| 11369 | F5F | TUT | ARR | Arr Arr | Wu, Chunchi | ||
| 24556 | F8F | TUT | ARR | Arr Arr | Roesch, Dominik Maximilian | ||
| 11332 | F3F | TUT | ARR | Arr Arr | Suk, Inho | ||
| 11315 | F6F | TUT | ARR | Arr Arr | Huh, Sahn Wook | ||
| 21392 | F7F | TUT | ARR | Arr Arr | Chung, Kee Ho | ||
| 11340 | F2F | TUT | ARR | Arr Arr | Tiu, Cristian I |
Spring 2024 (01/24/2024 - 05/07/2024)
| Reg. Num. | Section | Type | Topic | Days | Time | Location | Instructor |
| 21056 | S4F | TUT | ARR | Arr Arr | Tiu, Cristian I | ||
| 11167 | S1F | TUT | ARR | Arr Arr | Chung, Kee Ho | ||
| 20858 | S3F | TUT | ARR | Arr Arr | Fotak, Veljko N | ||
| 11049 | S5F | TUT | ARR | Arr Arr | Wu, Chunchi | ||
| 11037 | S2F | TUT | ARR | Arr Arr | Huh, Sahn Wook |
After passing the comprehensive exam, you will work closely with your faculty advisor toward the completion of your thesis. While you may continue to take regular classes, your focus will be on the quality of your research and its publishability.
Students are encouraged to develop their knowledge in specialized topics through independent study and supervised research with the finance faculty. Such efforts may be undertaken with the objective of publishing a paper.
The following courses must be taken in the Economics Department in lieu of the core courses in statistics (two courses), economics (two courses), and research methodology (one course {the other methodology course requirement is satisfied by MGF 740}):
ECON 609 Macroeconomic Theory I
ECON 611 Mathematics for Economists I
ECON 612 Mathematics for Economists II
ECON 613 Introduction to Econometric Theory
ECON 665 Microeconomic Theory I
In addition, at least one of the following courses must be taken for the external focus area in Economics:
ECON 614 Econometric Theory II
ECON 615 Econometric Theory III
ECON 666 Microeconomic Theory II
ECON 712 Econometrics: Time Series Analysis
ECON 721 Industrial Organization I
ECON 731 Optimal Contract Theory
Each student is encouraged to take additional courses which develop their research skills depending on the student’s specialization. Further training in the following areas is very desirable:
a) Economics (see list above)
b) Statistics (e.g., STAT 521, 522)
c) Management Science
d) Mathematics (e.g., MATH 301, MATH 331- 332)
e) Research courses in the School of Management (e.g., MGA 617, MGA 618)
The student must maintain a grade point average of 3.0 (B) to fulfill the requirement for a minor in economics. However, we expect the student to achieve an average higher than this minimum.
Two semesters of workshop courses (MGO 795, 796) must be taken. The workshop is designed to expose the student to current research.
The finance faculty will conduct an annual review and interview of each student in the program in the spring semester. The purpose is two-fold: to determine whether the student is making adequate progress toward the degree, and to determine where the student’s interests are developing. The student’s progress will be based on: (a) course grades; (b) comprehensive exam grade; (c) workshop participation; (d) performance as an RA (Resident Assistant) or TA (Teaching Assistant); (e) dissertation development; and (f) overall progress toward the degree.
This course provides students with a general understanding of the operation of capital markets and basic analytical tools of investment management. Specifically, the course covers such topics as principles of valuation, risk analysis, modern portfolio theory, Capital Asset Pricing Model (CAPM), market microstructure, index models, arbitrage pricing models, bonds and common stocks valuation, efficient market hypotheses, investment management, and option pricing models.
Credits: 3
Semesters offered: Fall 2024 | Spring 2024
Students may not take MGF 633 if they have taken M
Fall 2024 (08/26/2024 - 12/09/2024)
| Reg. Num. | Section | Type | Topic | Days | Time | Location | Instructor |
| 21294 | F2F | LEC | W | 6:30 - 9:10 p.m. | Jacobs 122 | Brace, Michael | |
| 11453 | F1F | LEC | TR | 11 a.m. - 12:20 p.m. | Jacobs 110 | Brace, Michael |
Spring 2024 (01/24/2024 - 05/07/2024)
| Reg. Num. | Section | Type | Topic | Days | Time | Location | Instructor |
| 11166 | S1F | LEC | MW | 12:30 - 1:50 p.m. | Jacobs 112 | Chung, Kee Ho |
Students taking this course should expect to learn about financial derivatives. Among others, students will learn about how to price financial derivatives and how to incorporate various real-world frictions into binomial trees and stochastic processes (such as underlying the commonly used Black & Scholes model). In a case-study we will use R programming to replicate the risk-neutral price of a variance swap (underlying the so called Volatility Index or VIX). The course will be of particular interest for students who contemplate pursuing a career in the financial industry, e.g. as a Quantitative Analyst. The required prior courses depend on your trajectory (e.g., MGF 633 "Investment Management" or MGF 634 "Quantitative Methods in Finance"). Please consult your study guide for details. In general, students are expected to possess good knowledge of mathematics and statistics. Students should also feel comfortable with Excel and some basic programming knowledge will be helpful. Mathematical, statistical, and Excel skills required for this course will be reviewed during the course.
Credits: 3
Semesters offered: Spring 2024
Spring 2024 (01/24/2024 - 05/07/2024)
| Reg. Num. | Section | Type | Topic | Days | Time | Location | Instructor |
| 11168 | S1F | LEC | MW | 11 a.m. - 12:20 p.m. | Jacobs 110 | Roesch, Dominik Maximilian |
This course provides an in-depth treatment of corporate finance concepts for all finance majors, with the purpose of furthering students' understanding of major corporate financial policies and decisions. These decisions include choosing between competing investment opportunities, measuring risk and return, how to value a business, how much debt to issue, how much equity to issue, what level of dividend to payout, and incentive structure for managers, and so on. The course starts with a discussion on corporate financial goals and corporate governance issues. It then proceeds to cover topics that center on corporate investment decisions, corporate valuation, and capital structure issues.
Credits: 3
Semesters offered: Spring 2024
Spring 2024 (01/24/2024 - 05/07/2024)
| Reg. Num. | Section | Type | Topic | Days | Time | Location | Instructor |
| 11172 | S1F | LEC | F | 10 a.m. - 12:40 p.m. | Jacobs 110 | Labert, Thomas A |
MGF 740 Theory of Finance
Students taking this course should expect to learn about financial derivatives. Among others, students will learn about how to price financial derivatives and how to incorporate various real-world frictions into binomial trees and stochastic processes (such as underlying the commonly used Black & Scholes model). In a case-study we will use R programming to replicate the risk-neutral price of a variance swap (underlying the so called Volatility Index or VIX). The course will be of particular interest for students who contemplate pursuing a career in the financial industry, e.g. as a Quantitative Analyst. The required prior courses depend on your trajectory (e.g., MGF 633 "Investment Management" or MGF 634 "Quantitative Methods in Finance"). Please consult your study guide for details. In general, students are expected to possess good knowledge of mathematics and statistics. Students should also feel comfortable with Excel and some basic programming knowledge will be helpful. Mathematical, statistical, and Excel skills required for this course will be reviewed during the course.
Credits: 3
Semesters offered: Spring 2024
Spring 2024 (01/24/2024 - 05/07/2024)
| Reg. Num. | Section | Type | Topic | Days | Time | Location | Instructor |
| 11168 | S1F | LEC | MW | 11 a.m. - 12:20 p.m. | Jacobs 110 | Roesch, Dominik Maximilian |
This course focuses on the theory of finance and its application to corporate policy decision analyses. Theoretical and empirical papers from various journals will be covered. Students will be exposed to both classical papers on selected topics and the latest development in corporate finance theory.
Credits: 3
Semesters offered: Spring 2024
Spring 2024 (01/24/2024 - 05/07/2024)
| Reg. Num. | Section | Type | Topic | Days | Time | Location | Instructor |
| 20849 | S1F | SEM | R | 3:45 - 6:45 p.m. | Jacobs 282 | Chung, Kee Ho |
MGF 742 Information and Capital Markets
"The course covers topics related to market microstructure, such as information asymmetry, liquidity, trading, and price efficiency. Course materials include path-breaking works in the past, recent developments in theories, and newly documented empirical evidence. The course will help equip students with the knowledge and methodological tools required to write scholarly articles that are potentially publishable in leading journals in finance and related fields."
Credits: 3
Semesters offered: Spring 2024
Spring 2024 (01/24/2024 - 05/07/2024)
| Reg. Num. | Section | Type | Topic | Days | Time | Location | Instructor |
| 22313 | S1F | SEM | R | 3:45 - 6:35 p.m. | Unknown | Unknown |
Any of the 600-level courses may be waived if the student has had an equivalent prior course.
Independent study may also be used to help a student develop specialized knowledge in finance.
Students are required to take the morning segment of the finance comprehensive exam. The exam may be taken only twice. No minor exam is required if the student achieves a 3.5 GPA in the minor courses.