Financial Economics

Degree Types: PhD

The PhD Program in Financial Economics is offered jointly by the Department of Economics in the Weinberg College of Arts and Sciences and the Department of Finance in the Kellogg School of Management.  The joint program requirements are a combination of those for the existing PhD programs in each departments.  The program prepares students for careers in college teaching and research, government and international agencies, or private business.

Students will have access to a broad array of faculty across different disciplines within economics that taps into the interdisciplinary strengths found within the Finance-Economics curriculum.

The study of finance aligns with numerous areas within economics: macroeconomics, public finance, econometrics, economic development and economic history. This is why a broad training in economics is essential for those who wish to do innovative work that straddles both finance and economics. Some examples include the financing and investment decisions of firms, households, and governments; the interplay between asset prices, capital markets and the macro-economy; and the role and limitations of financial institutions in facilitating access to credit.

Students will complete the existing first-year Economics program that provides a rigorous foundation in macroeconomics, microeconomics and econometrics.  Students will then take courses in theoretical and empirical finance, as well as additional fields in economics such as economic theory, economic history, macroeconomics, industrial organization and regulation, labor economics, economic development, econometrics, international economics, and public finance.  Students are trained in the most advanced techniques of theoretical and empirical research in order to make significant contributions to financial theory and practice.

Independent thesis research will be supervised by faculty drawn from both the Economics and Finance Departments. 

Weekly workshop series in both departments provide a forum for faculty, students, and distinguished economists from around the world to meet and present their research.

See the Financial Economics Degree Requirements for specific classes and procedures needed to complete this program.

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