Finance
The Ph.D. in Finance
Requirements
Program of Study
Course Descriptions
Assistantships
The Ph.D. in Finance
The primary mission of the Ph.D. program in finance is to prepare students of exceptional talent for careers
in research and teaching at Middle East academic institutions. Students will be encouraged to do theoretical and
practical research in areas such as the structure of financial markets, the formation and behavior of financial
asset prices, banking and monetary systems, corporate control and capital structure, saving and capital formation
and international financial markets.
Training in economics, mathematics, engineering, or other quantitative disciplines are an excellent background
to undertake doctoral studies in the field of finance. Applicants are expected to have completed introductory courses
in economic theory, mathematics (including calculus), and basic accounting principles. Students who do not meet
these course requirements but otherwise show promise may be admitted on the condition that they remove any deficiencies
preceding enrollment or soon thereafter.
During the first two years of the program, students take courses in finance and in related disciplines such
as economics and statistics, and a comprehensive examination is administered to confirm a mastery of the topics
in finance. During the third year, students make the transition from course work to full-time dissertation research.
A dissertation proposal defense is held early in the third year, and the dissertation is completed during the fourth
year.
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Requirements
Entering students must demonstrate competence in mathematics either by passing a waiver examination administered
by the University or by passing ECO8897, a non-credit course in mathematical analysis for economists, prior to
the beginning of the program.
Core Requirements
Candidates are required to complete the following course program
before sitting for the finance qualifying examination:
- ECO7701 Microeconomic Theory I
- ECO8898 Elementary Mathematics for Economists (ECO8889
can be satisfied by passing a waiver exam.)
- STA5510 Probability and Statistics for Business and Economics
- STA5511 Statistics for Business and Economics
- FIN9911 Financial Economics
- FIN9912 Financial Institutions
- FIN9922 Continuous-Time Financial Economics
Admission to Candidacy
Admission to candidacy in the finance major is contingent on completing the following:
- All core requirements as set out above.
- Passing the qualification Finance Major examination.
- Completion and approval of Dissertation proposal.
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Program of Study
The Ph.D. in finance requires a minimum of twenty graduate level courses, of which eight at most can be transferred
from relevant graduate courses at other schools or universities. The course requirements are as follows:
| Discipline |
Courses |
| Economics |
2
|
| Finance |
8
|
| Statistics |
2
|
| Electives |
8
|
| Dissertation |
—
|
List of Course
Economics
ECO7701 Microeconomic Theory I
ECO8898 Elementary Mathematics for Economists
ECO7705 Econometrics I: Fundamentals
ECO7706 Econometrics II: Methods and Models
ECO7732 International Monetary Theory and Policy
Statistics
STA5510 Probability and Statistics for Business and Economics
STA5511 Statistics for Business and Economics
Finance
FIN9911 Financial Economics
FIN9912 Financial Institutions
FIN9921 Introduction to Empirical Methods
FIN9922 Continuous-Time Financial Economics
FIN9924 Intertemporal Macroeconomics and Finance
FIN9934 Empirical Research in Finance
FIN9923 Financial Economics under Imperfect Information
FIN9931 Investments
FIN9932 Corporation Finance
FIN9933 International Finance
FIN9935 Advanced Topics in Money and Capital Markets
FIN9941 Financial Structure and Policy
FIN9943 Monetary Theory
FIN9944 Real Estate Investment, Analysis, and Financing
FIN9945 Urban Real Estate Economics
FIN9950 Research Seminar in Finance
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Course Descriptions
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Assistantships in Finance
Students admitted to the PhD program typically receive a fellowship providing tuition and a stipend. These students
participate in the teaching and research activities of the Business Administration program.
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