Program Description
The goal of the PhD program is to prepare students for a research and teaching career in finance. The program provides students with a rigorous background in theoretical and empirical finance, economics, mathematics, and statistics. These tools, plus opportunities for supervised independent research, enable students to make their own contributions to the understanding of financial markets and institutions.

A broad spectrum of research is currently being carried on in the Department of Finance. Topics include banking, real estate, security market regulation, the market for corporate control and corporate governance, capital structure, dividend policy, empirical and theoretical asset pricing, asset-pricing volatility, and the role of money and the effects of inflation.

The emphasis of the program is on research. Students are trained in the most advanced techniques of theoretical and empirical research in finance in order to make significant contributions to financial theory and practice. To this end, an integrated program of coursework, seminars, and supervised and independent research is required.

Applicants should contact the program or see Web site http://www.kellogg.northwestern.edu/finance/ to learn about program-specific requirements for admission.