Finance

Description

FINANCIAL ECONOMICS ENCOMPASSES A BROAD AREA of topics and issues, including corporate investments and financing policy, security valuation, portfolio management, the behavior of prices in speculative markets, financial institutions, and intermediation.

The program offers two courses specifically in financial theory and its applications. In addition, the faculty and doctoral students attend a seminar that features speakers from around the country. However, the specialization is built primarily around individual study and research under the guidance of the faculty.

Examples of potential areas of research for the financial economics dissertation:

• Principal-agent relationships
• Financial intermediation
• Efficiency of markets
• Portfolio selection

Contents

The curriculum for the Doctoral program is an intensive course of study designed to prepare PhD students for a successful career in academia. Over the first two years, students take 14 courses, which include two core courses, a social science sequence, an empirical methods sequence, a depth requirement, a breadth requirement, and electives. Each student will also be required to complete a two-term sequence in a social science and a two-term sequence in empirical methods.

Sample Depth sequences:

• Financial Economics I
• Financial Economics II
• Corporate Finance & Market Microstructure
• Empirical Workshop in Accounting & Financial Economics
• Topics in Empirical Asset Pricing
• Stochastic Processes

Requirements

Applications are considered only once per year, and all new students begin their doctoral studies in the fall term. Classes are not offered on evenings or weekends, nor is it possible to be a student in the program while holding a full-time job. Applicants are required to take either the GRE or GMAT test.

English Language Requirements

TOEFL iBT® test: 101

Funding

All students admitted to the program are given full financial aid for five years as long as they continue to satisfy the program's academic requirements. The aid consists of a tuition waiver and a stipend that is comparable to stipends offered by other leading Schools of Management.

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Accreditation

The mission of the Yale School of management is educating leaders for business and society. The school’s students, faculty, and alumni are committed to understanding the complex forces transforming global markets and using that understanding to build organizations—in the for-profit, nonprofit, entrepreneurial, and government sectors—that contribute lasting value to society.