Ph.D. Joint Degree Option:  Business (Finance) and Economics

Admission Requirements and Procedures: Applicants may apply either to the economics department or the finance department.  Applicants must submit GRE scores; the GMAT is not a substitute for the GRE for this joint degree.  Admission to the program is only granted if both departments agree. If admission to the joint program is granted after enrollment to either the economics or the finance department, then an add/change major form is required. One of the requirements is to pass the economics micro and macro comprehensive exams offered in the summer following the first year, admission to the joint program must be granted sufficiently early in the student’s tenure or else he/she will fall behind the requirements.

Curriculum:

Overview: Students in the joint program are required to take a common curriculum. Joint students are required to meet all requirements of both the economics and finance Ph.D. programs. The key difference between the standard economics program and the joint program is that in Year 2 joint students must take FIN920, FIN971, and FIN972 (which satisfy minor field requirements in economics) and a Finance comprehensive exam in the summer following Year 2 (these differences are highlighted in yellow). Since there are no new courses, if a student who was admitted to one of the separate programs “transfers in” to the joint program, courses for which the student meets the appropriate grade required by each department will be granted the appropriate credit.

The specific curriculum along with specific program requirements (B=both, E=Economics, F=Finance) and credits in parentheses is:

Year 1: Fall Spring Summer
(B) Micro I Econ 711 (3) (B) Micro II Econ 713 (3) (E) Econ Micro Comp
(B) Macro I Econ 712 (3) (E) Macro II Econ 714 (3) (E) Econ Macro Comp
(B) Metrics I Econ 709 (3) (B) Metrics II Econ 710 (3)

 

(E) Math Econ 703 (3)

 

 

Total Credits Year 1: 21

Year 2: Fall Spring Summer
(F) Financial Theory FIN 920 (3) (F) Topics in Finance FIN 972 (3) (F) Finance Comp
(F, E*) Corporate Finance FIN 971 (3) (F,E*) Asset Pricing FIN 921 (3) (B) Paper Submission
(E) Economics Major Field (3) (E) Economics Major Field (3)  
(F) Finance Workshop FIN 973 (2) (F) Finance Workshop FIN 973 (2)  

Total Credits Year 2: 22. E*: while this finance class was not required by economics, by permission of the economics graduate director, it could satisfy a minor field course requirement.

Year 3: Fall Spring
(E) Economics Minor Field (3) (E) Economics Minor Field (3)
(E,F) Paper Workshop ECON 965, FIN 999 (4) (E,F) Paper Workshop ECON 965, FIN 999 (4)
(F) Finance Workshop FIN973 (2) (F) Finance Workshop FIN973 (2)

Total Credits Year 3: 18

Advancement to Dissertator Status requires: (i) Successful completion of both economics and finance comprehensive exams; (ii) successful completion of sole-authored paper requirement (includes submission of first draft, response to referee report and revision if necessary, acceptance of revision, two presentations (Year 3 Fall and Spring).

All milestone requirements – field paper, three signature proposal, dissertation committee – are required to include at least one faculty member from the economics and finance departments. A single dissertation, approved by members comprised of both departments, is sufficient to fulfill the dissertation requirement.