phd finance in uk

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PhD/ MPhil/ MSc Finance (Research)

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The PhD/MPhil/MSc in Finance comprises a short taught component followed by a longer research phase. Taught modules allow you to broaden, as well as deepen, your knowledge of research methods as well as conducting your own research and developing transferable professional skills.

The PhD programme in Finance will facilitate the creation and interpretation of new knowledge by the research student, demonstrated through the thesis. The taught component is designed to ensure that doctoral researchers understand the breath of techniques used in modern social science research.

Doctoral researchers will be capable of analysing a range of data using a range of qualitative and quantitative techniques. They will be able to explain theories underlying different approaches to social science research. Doctoral researchers are expected to participate to the fullest possible extent in the life of the Department of Finance and the Business School. This means attending seminars organised by the Department of Finance and more widely in the Business School thereby helping expose doctoral researchers to new ideas emanating from outside their own area of specialisation. It also requires actively participating in PhD workshops and conferences organised by the Department of Finance, the Business School and Graduate School as well as institutions outside the University of Birmingham.

Ultimately all doctoral researchers will have the ability to characterise and solve business and financial problems using advanced research tools. They should be able to derive policy implications from their research and communicate these to policy makers, practitioners and other academics in a manner which is comprehensible. They will also be able to peer review others’ research and offer constructive criticism; and to extend the frontiers of the discipline through their own innovative research.

Doctoral researchers may choose to become academics, work in Government, businesses, supranational organisations or in the research arms of major financial institutions. They are expected to achieve a substantial understanding of contemporaneous financial and business issues enabling them to take a lead in ongoing debates within society. They will be aware of and understand the function of related institutions at both a national and international level.

Fees 2024 - 2025

• Code: 021B - £4,778 (UK) PhD Full time
• Code: 022B - £2,389 (UK) PhD Part time
• Code: 021B - £23,520 (International) PhD Full time
• Code: 023B - £4,778 (UK) MPhil
• Code: 023B - £23,520 (International) MPhil
• Code: 045B - £4,778 (UK) MSc (Research)
• Code 045B - £23,520 (International) MSc (Research)

Learn more about fees and funding

Scholarships and studentships

A limited number of scholarships may be available to outstanding applicants. International students  can often gain funding through overseas research scholarships, Commonwealth scholarships or their home Government.

For further information contact the School directly or visit our helpdesk.

How To Apply

• How to apply

To apply for a postgraduate research programme, you will need to submit your application and supporting documents online. We have put together some helpful information on the research programme application process and supporting documents on our how to apply page . Please read this information carefully before completing your application.

Our Standard Requirements

The Business School's entry requirement is a good honours degree (first or upper second class honours) awarded by a recognised University in an appropriate subject, and a merit in a relevant Master’s degree. We usually ask students for an average of 65 in the taught component of their Masters. All international students also need to show that they have adequate knowledge of written and spoken English.

Learn more about our entry requirements.

Writing your research proposal

Along with your academic record, your references and your curriculum vitae your research proposal plays a critical role in the evaluation of your application.

Your research proposal should illustrate your ability to plan an independent research study and the relevance of your topic to the research interests and expertise of Birmingham Business School.You need to demonstrate that you understand the field that you plan to research, identify an interesting and original research question, and develop a tentative plan of study. It is highly desirable that your research proposal is written to the guidelines specified below.

Guidelines for the Research Proposal

When clicking on the Apply Now button you will be directed to an application specifically designed for the programme you wish to apply for where you will create an account with the University application system and submit your application and supporting documents online. Further information regarding how to apply online can be found on the how to apply pages.

International Requirements

Applicants for postgraduate research programmes should hold a Bachelors degree and a Masters degree, with a GPA of 14/20 from a recognised institution to be considered. Applicants with lower grades than this may be considered on an individual basis.

Holders of the Licenciado or an equivalent professional title from a recognised Argentinian university, with a promedio of at least 7.5, may be considered for entry to a postgraduate degree programme. Applicants for PhD degrees will normally have a Maestria or equivalent

Applicants who hold a Masters degree will be considered for admission to PhD study.

Holders of a good four-year Diplomstudium/Magister or a Masters degree from a recognised university with a minimum overall grade of 2.5 will be considered for entry to postgraduate research programmes.

Students with a good 5-year Specialist Diploma or 4-year Bachelor degree from a recognised higher education institution in Azerbaijan, with a minimum GPA of 4/5 or 80% will be considered for entry to postgraduate taught programmes at the University of Birmingham.

For postgraduate research programmes applicants should have a good 5-year Specialist Diploma (completed after 1991), with a minimum grade point average of 4/5 or 80%, from a recognised higher education institution or a Masters or “Magistr Diplomu” or “Kandidat Nauk” from a recognised higher education institution in Azerbaijan.

Applicants for postgraduate research programmes should hold a Bachelors degree and a Masters degree, with a GPA of 3.0/4.0 or 75% from a recognised institution to be considered. Applicants with lower grades than this may be considered on an individual basis.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree, with a CGPA of 3.0-3.3/4.0 or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Students who hold a Masters degree from the University of Botswana with a minimum GPA of 3.0/4.0 or 3.5/5.0 (70%/B/'very good') will be considered for Postgraduate Diplomas and Masters degrees.

Please note 4-year bachelor degrees from the University of Botswana are considered equivalent to a Diploma of Higher Education. 5-year bachelor degrees from the University of Botswana are considered equivalent to a British Bachelor (Ordinary) degree.

Students who have completed a Masters degree from a recognised institution will be considered for PhD study.

A Licenciatura or Bacharelado degree from a recognised Brazilian university:

• A grade of 7.5/10 for entry to programmes with a 2:1 requirement
• A grade of 6.5/10for entry to programmes with a 2:2 requirement

Holders of a good Bachelors degree with honours (4 to 6 years) from a recognised university with a upper second class grade or higher will be considered for entry to taught postgraduate programmes.  Holders of a good Masters degree from a recognised university will be considered for entry to postgraduate research programmes.

Holders of a good post-2001 Masters degree from a recognised university will be considered for entry to postgraduate research programmes.

Students with a minimum average of 14 out of 20 (or 70%) on a 4-year Licence, Bachelor degree or Diplôme d'Etudes Superieures de Commerce (DESC) or Diplôme d'Ingénieur or a Maîtrise will be considered for Postgraduate Diplomas and Masters degrees.

Holders of a bachelor degree with honours from a recognised Canadian university may be considered for entry to a postgraduate degree programme. A GPA of 3.0/4, 7.0/9 or 75% is usually equivalent to a UK 2.1.

Holders of the Licenciado or equivalent Professional Title from a recognised Chilean university will be considered for Postgraduate Diplomas and Masters degrees. Applicants for PhD study will preferably hold a Magister degree or equivalent.

Students with a bachelor’s degree (4 years minimum) may be considered for entry to a postgraduate degree programme. However please note that we will only consider students who meet the entry guidance below.  Please note: for the subject areas below we use the Shanghai Ranking 2022 (full table)  ,  Shanghai Ranking 2023 (full table) , and Shanghai Ranking of Chinese Art Universities 2023 .

需要具备学士学位（4年制）的申请人可申请研究生课程。请根据所申请的课程查看相应的入学要求。 请注意，中国院校名单参考 软科中国大学排名2022（总榜） ，  软科中国大学排名2023（总榜） ，以及 软科中国艺术类高校名单2023 。  

Business School    - MSc programmes (excluding MBA)  

商学院硕士课程（MBA除外）入学要求

School of Computer Science – all MSc programmes 计算机学院硕士课程入学要求

College of Social Sciences – courses listed below 社会科学 学院部分硕士课程入学要求 MA Education  (including all pathways) MSc TESOL Education MSc Public Management MA Global Public Policy MA Social Policy MA Sociology Department of Political Science and International Studies  全部硕士课程 International Development Department  全部硕士课程

  All other programmes (including MBA)   所有其他 硕士课程（包括 MBA）入学要求

Please note:

• Borderline cases: We may consider students with lower average score (within 5%) on a case-by-case basis if you have a relevant degree and very excellent grades in relevant subjects and/or relevant work experience. 如申请人均分低于相应录取要求（5%以内），但具有出色学术背景，优异的专业成绩，以及（或）相关的工作经验，部分课程将有可能单独酌情考虑。
• Please contact the China Recruitment Team for any questions on the above entry requirements. 如果您对录取要求有疑问，请联系伯明翰大学中国办公室   [email protected]

Holders of the Licenciado/Professional Title from a recognised Colombian university will be considered for our Postgraduate Diploma and Masters degrees. Applicants for PhD degrees will normally have a Maestria or equivalent.

Holders of a good bachelor degree with honours (4 to 6 years) from a recognised university with a upper second class grade or higher will be considered for entry to taught postgraduate programmes.  Holders of a good Masters degree from a recognised university will be considered for entry to postgraduate research programmes.

Holders of a good Bacclaureus (Bachelors) from a recognised Croatian Higher Education institution with a minimum overall grade of 4.0 out of 5.0, vrlo dobar ‘very good’, or a Masters degree, will be considered for entry to postgraduate research programmes.

Holders of a Bachelors degree(from the University of the West Indies or the University of Technology) may be considered for entry to a postgraduate degree programme. A Class II Upper Division degree is usually equivalent to a UK 2.1. For further details on particular institutions please refer to the list below.  Applicants for PhD level study will preferably hold a Masters degree or Mphil from the University of the West Indies.

Applicants for postgraduate research programmes should hold a good Bachelors degree from a recognised institution with a minimum overall grade of 6.5 out of 10, or a GPA of 3 out of 4, and will usually be required to have completed a good Masters degree to be considered for entry to postgraduate research programmes. Applicants with lower grades than this may be considered on an individual basis.

Holders of a good Bakalár from a recognised Czech Higher Education institution with a minimum overall grade of 1.5, B, velmi dobre ‘very good’ (post-2004) or 2, velmi dobre ‘good’ (pre-2004), or a good post-2002 Magistr (Masters), will be considered for entry to postgraduate research programmes.

Applicants for postgraduate research programmes should hold a good Bachelors degree from a recognised institution with a minimum overall grade of 7-10 out of 12 (or 8 out of 13) or higher for 2:1 equivalence and will usually be required to have completed a good Masters/ Magisterkonfereus/Magister Artium degree to be considered for entry to postgraduate research programmes. Applicants with lower grades than this may be considered on an individual basis.

Holders of the Licenciado or an equivalent professional title from a recognised Ecuadorian university may be considered for entry to a postgraduate degree programme. Grades of 70% or higher can be considered as UK 2.1 equivalent.  Applicants for PhD level study will preferably hold a Magister/Masterado or equivalent qualification, but holders of the Licenciado with excellent grades can be considered.

Applicants for postgraduate research programmes should hold a Bachelors degree and a Masters degree, with a GPA of 3.0/4.0 or 75% from a recognised institution. Applicants with lower grades than this may be considered on an individual basis.

Holders of a good Bakalaurusekraad from a recognised university with a minimum overall grade of 4/5 or B, or a good one- or two-year Magistrikraad from a recognised university, will be considered for entry to postgraduate research programmes.

Students who hold a Masters degree with very good grades (grade B, 3.5/4 GPA or 85%) will be considered for Postgraduate Diplomas and Masters degrees. 

Holders of a good Kandidaatti / Kandidat (old system), a professional title such as Ekonomi, Diplomi-insinööri, Arkkitehti, Lisensiaatti (in Medicine, Dentistry and Vetinary Medicine), or a Maisteri / Magister (new system), Lisensiaatti / Licenciat, Oikeustieteen Kandidaatti / Juris Kandidat (new system) or Proviisori / Provisor from a recognised Finnish Higher Education institution, with a minimum overall grade of 2/3 or 4/5, will be considered for entry to postgraduate research programmes.

Applicants for postgraduate research programmes should hold a should hold a Bachelors degree and will usually be required to have completed a Masters/Maîtrise with a minimum overall grade of 13 out of 20, or a Magistère / Diplôme d'Etudes Approfondies / Diplôme d'Etudes Supérieures Specialisées / Mastère Specialis, from a recognised French university or Grande École to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Holders of a Magister Artium, a Diplom or an Erstes Staatsexamen from a recognised university with a minimum overall grade of 2.5, or a good two-year Lizentiat / Aufbaustudium / Zweites Staatsexamen or a Masters degree from a recognised university, will be considered for entry to postgraduate research programmes.

Students who hold a Bachelor degree from a recognised institution will be considered for Postgraduate Diplomas and Masters degrees. Most taught Masters programmes require a minimum of an upper second class degree (2.1) with a minimum GPA of at least 3.0/4.0 or 3.5/5.0 Students who have completed a Masters degree from a recognised institution will be considered for PhD study.

Applicants for postgraduate research programmes should hold a good four-year Ptychio (Bachelor degree) with a minimum overall grade of 6.5 out of 10, from a recognised Greek university (AEI), and will usually be required to have completed a good Metaptychiako Diploma Eidikefsis (Masters degree) from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

4-year Licenciado is deemed equivalent to a UK bachelors degree. A score of 75 or higher from Universidad de San Carlos de Guatemala (USAC) can be considered comparable to a UK 2.1, 60 is comparable to a UK 2.2.  Private universities have a higher pass mark, so 80 or higher should be considered comparable to a UK 2.1, 70 is comparable to a UK 2.2

The Hong Kong Bachelor degree is considered comparable to British Bachelor degree standard. Students with bachelor degrees awarded by universities in Hong Kong may be considered for entry to one of our postgraduate degree programmes.

Students with Masters degrees may be considered for PhD study.

Holders of a good Alapfokozat / Alapképzés or Egyetemi Oklevel from a recognised university with a minimum overall grade of 3.5, or a good Mesterfokozat (Masters degree) or Egyetemi Doktor (university doctorate), will be considered for entry to postgraduate research programmes.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree, with a 60% or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Holders of the 4 year Sarjana (S1) from a recognised Indonesian institution will be considered for postgraduate study. Entry requirements vary with a minimum requirement of a GPA of 2.8.

Applicants for postgraduate research programmes should hold a Bachelors degree and a Masters degree, with a score of 14/20 or 70% from a recognised institution to be considered. Applicants with lower grades than this may be considered on an individual basis.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree from a recognised institution, with 100 out of 110 or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Students who hold the Maitrise, Diplome d'Etude Approfondies, Diplome d'Etude Superieures or Diplome d'Etude Superieures Specialisees will be considered for Postgraduate Diplomas and Masters degrees (14-15/20 or Bien from a well ranked institution is considered comparable to a UK 2.1, while a score of 12-13/20 or Assez Bien is considered comparable to a UK 2.2).

Students with a Bachelor degree from a recognised university in Japan will be considered for entry to a postgraduate Masters degree provided they achieve a sufficiently high overall score in their first (Bachelor) degree. A GPA of 3.0/4.0 or a B average from a good Japanese university is usually considered equivalent to a UK 2:1.

Students with a Masters degree from a recognised university in Japan will be considered for PhD study. A high overall grade will be necessary to be considered.

Students who have completed their Specialist Diploma Мамаң дипломы/Диплом специалиста) or "Magistr" (Магистр дипломы/Диплом магистра) degree (completed after 1991) from a recognised higher education institution, with a minimum GPA of 2.67/4.00 for courses requiring a UK lower second and 3.00/4.00 for courses requiring a UK upper second class degree, will be considered for entry to postgraduate Masters degrees and, occasionally, directly for PhD degrees.  Holders of a Bachelor "Bakalavr" degree (Бакалавр дипломы/Диплом бакалавра) from a recognised higher education institution, with a minimum GPA of  2.67/4.00 for courses requiring a UK lower second and 3.00/4.00 for courses requiring a UK upper second class degree, may also be considered for entry to taught postgraduate programmes.

Students who hold a Bachelor degree from a recognised institution will be considered for Postgraduate Diplomas and Masters degrees. Most taught Masters programmes require a minimum of an upper second class degree (2.1) with a minimum GPA of at least 3.0/4.0 or 3.5/50

Holders of a good Postgraduate Diploma (professional programme) from a recognised university or institution of Higher Education, with a minimum overall grade of 7.5 out of 10, or a post-2000 Magistrs, will be considered for entry to postgraduate research programmes.

Applicants for postgraduate research programmes should hold a Bachelors degree and a Masters degree, with a score of 16/20 or 80% from a recognised institution to be considered. Applicants with lower grades than this may be considered on an individual basis.

Holders of a Bachelors degree from a recognised university in Libya will be considered for postgraduate study. Holders of a Bachelors degree will normally be expected to have achieved score of 70% for 2:1 equivalency or 65% for 2:2 equivalency. Alternatively students will require a minimum of 3.0/4.0 or BB to be considered.

Holders of a good pre-2001 Magistras from a recognised university with a minimum overall grade of 8 out of 10, or a good post-2001 Magistras, will be considered for entry to postgraduate research programmes

Holders of a good Bachelors degree from a recognised Luxembourgish Higher Education institution with a minimum overall grade of 16 out of 20, or a Diplôme d'Études Supérieures Spécialisées (comparable to a UK PGDip) or Masters degree from a recognised Luxembourgish Higher Education institution will be considered for entry to postgraduate research programmes.

Students who hold a Masters degree will be considered for Postgraduate Diplomas and Masters degrees (70-74% or A or Marginal Distinction from a well ranked institution is considered comparable to a UK 2.1, while a score of 60-69% or B or Bare Distinction/Credit is considered comparable to a UK 2.2).

Holders of a Bachelors degree from a recognised Malaysian institution (usually achieved with the equivalent of a second class upper or a grade point average minimum of 3.0) will be considered for postgraduate study at Diploma or Masters level.

Holders of a good Bachelors degree from the University of Malta with a minimum grade of 2:1 (Hons), and/or a Masters degree, will be considered for entry to postgraduate research programmes.

Students who hold a Bachelor degree (Honours) from a recognised institution (including the University of Mauritius) will be considered for Postgraduate Diplomas and Masters degrees.  Most taught Masters programmes require a minimum of an upper second class degree (2:1).

Students who hold the Licenciado/Professional Titulo from a recognised Mexican university with a promedio of at least 8 will be considered for Postgraduate Diplomas and Masters degrees.

Students who have completed a Maestria from a recognised institution will be considered for PhD study.

Applicants for postgraduate research programmes should hold a Bachelors degree, licence or Maîtrise and a Masters degree, with a score of 14/20 or 70% from a recognised institution to be considered. Applicants with lower grades than this may be considered on an individual basis.

Students with a good four year honours degree from a recognised university will be considered for postgraduate study at the University of Birmingham. PhD applications will be considered on an individual basis.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree, with 60-74% or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Holders of a good Doctoraal from a recognised Dutch university with a minimum overall grade of 7 out of 10, and/or a good Masters degree, will be considered for entry to postgraduate research programmes.

Students who hold a Bachelor degree (minimum 4 years and/or level 400) from a recognised institution will be considered for Postgraduate Diplomas and Masters degrees.  Most taught Masters programmes require a minimum of an upper second class degree (2.1) with a minimum GPA of at least 3.0/4.0 or 3.5/5.0

Applicants for postgraduate research programmes should hold a good Bachelors degree from a recognised institution with a minimum GPA of B/Very Good or 1.6-2.5 for a 2.1 equivalency, and will usually be required to have completed a good Masters, Mastergrad, Magister. Artium, Sivilingeniør, Candidatus realium or Candidatus philologiae degree to be considered for entry to postgraduate research programmes. Applicants with lower grades than this may be considered on an individual basis.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree, with a CGPA of 3.0/4 or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Holders of a Bachelors degree from a recognised university in the Palestinian Territories will be considered for postgraduate study. Holders of Bachelors degree will normally be expected to have achieved a GPA of 3/4 or 80% for 2:1 equivalency or a GPA of 2.5/4 or 70% for 2:2 equivalency.    

Holders of the Título de Licenciado /Título de (4-6 years) or an equivalent professional title from a recognised Paraguayan university may be considered for entry to a postgraduate degree programme. Grades of 4/5 or higher can be considered as UK 2.1 equivalent.  The Título Intermedio is a 2-3 year degree and is equivalent to a HNC, it is not suitable for postgraduate entry but holders of this award could be considered for second year undergraduate entry or pre-Masters.  Applicants for PhD level study will preferably hold a Título de Maestría / Magister or equivalent qualification, but holders of the Título/Grado de Licenciado/a with excellent grades can be considered.

Holders of the Licenciado, with at least 13/20 may be considered as UK 2.1 equivalent. The Grado de Bachiller is equivalent to an ordinary degree, so grades of 15+/20 are required.  Applicants for PhD level study will preferably hold a Título de Maestría or equivalent qualification.

Holders of a good pre-2001 Magister from a recognised Polish university with a minimum overall grade of 4 out of 5, dobry ‘good’, and/or a good Swiadectwo Ukonczenia Studiów Podyplomowych (Certificate of Postgraduate Study) or post-2001 Magister from a recognised Polish university with a minimum overall grade of 4.5/4+ out of 5, dobry plus 'better than good', will be considered for entry to postgraduate research programmes.

Holders of a good Licenciado from a recognised university, or a Diploma de Estudos Superiores Especializados (DESE) from a recognised Polytechnic Institution, with a minimum overall grade of 16 out of 20, and/or a good Mestrado / Mestre (Masters) from a recognised university, will be considered for entry to postgraduate research programmes.

Applicants for postgraduate research programmes should hold a good Bachelors degree from a recognised Romanian Higher Education institution with a minimum overall grade of 8 out of 10, and will usually be required to have completed a Masters degree/Diploma de Master/Diploma de Studii Academice Postuniversitare (Postgraduate Diploma - Academic Studies) or Diploma de Studii Postuniversitare de Specializare (Postgraduate Diploma - Specialised Studies) to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Holders of a good Диплом Специалиста (Specialist Diploma) or Диплом Магистра (Magistr) degree from recognised universities in Russia (minimum GPA of 4.0) will be considered for entry to taught postgraduate programmes/PhD study.

Students who hold a 4-year Bachelor degree with at least 16/20 or 70% will be considered for Postgraduate Diplomas and Masters degrees.   

Students who hold a Maitrise, Diplome d'Etude Approfondies,Diplome d'Etude Superieures or Diplome d'Etude Superieures Specialisees will be considered for Postgraduate Diplomas and Masters degrees. A score of 14-15/20 or Bien from a well ranked institution is considered comparable to a UK 2.1, while a score of 12-13/20 or Assez Bien is considered comparable to a UK 2.2

Students who hold a Bachelor (Honours) degree from a recognised institution with a minimum GPA of 3.0/4.0 or 3.5/5.0 (or a score of 60-69% or B+) from a well ranked institution will be considered for most our Postgraduate Diplomas and Masters degrees with a 2:1 requirement.

Students holding a good Bachelors Honours degree will be considered for postgraduate study at Diploma or Masters level.

Holders of a good three-year Bakalár or pre-2002 Magister from a recognised Slovakian Higher Education institution with a minimum overall grade of 1.5, B, Vel’mi dobrý ‘very good’, and/or a good Inžinier or a post-2002 Magister from a recognised Slovakian Higher Education institution will be considered for entry to postgraduate research programmes.

Holders of a good Diploma o pridobljeni univerzitetni izobrazbi (Bachelors degree), Diplomant (Professionally oriented first degree), Univerzitetni diplomant (Academically oriented first degree) or Visoko Obrazovanja (until 1999) from a recognised Slovenian Higher Education institution with a minimum overall grade of 8.0 out of 10, and/or a good Diploma specializacija (Postgraduate Diploma) or Magister (Masters) will be considered for entry to postgraduate research programmes.

Students who hold a Bachelor Honours degree (also known as Baccalaureus Honores / Baccalaureus Cum Honoribus) from a recognised institution will be considered for Postgraduate Diplomas and Masters degrees. Most Masters programmes will require a second class upper (70%) or a distinction (75%).

Holders of a Masters degree will be considered for entry to postgraduate research programmes.

Holders of a Bachelor degree from a recognised South Korean institution (usually with the equivalent of a second class upper or a grade point average 3.0/4.0 or 3.2/4.5) will be considered for Masters programmes.

Holders of a good Masters degree from a recognised institution will be considered for PhD study on an individual basis.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree, with 7 out of 10 or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree, with 60-74% or a CGPA 3.30/4.0 or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Holders of a good Kandidatexamen (Bachelors degree) or Yrkesexamen (Professional Bachelors degree) from a recognised Swedish Higher Education institution with the majority of subjects with a grade of VG (Val godkänd), and/or a good Magisterexamen (Masters degree), International Masters degree or Licentiatexamen (comparable to a UK Mphil), will be considered for entry to postgraduate research programmes.

Holders of a good "PostGraduate Certificate" or "PostGraduate Diploma" or a Masters degree from a recognised Swiss higher education institution (with a minimum GPA of 5/6 or 8/10 or 2/5 (gut-bien-bene/good) for a 2.1 equivalence) may be considered for entry to postgraduate research programmes.

Applicants for postgraduate research programmes should hold a Bachelors degree and a Masters degree, with a GPA of 3.0/4.0, 3.5/5 or 75% from a recognised institution to be considered. Applicants with lower grades than this may be considered on an individual basis.

Holders of a good Bachelor degree (from 75% to 85% depending upon the university in Taiwan) from a recognised institution will be considered for postgraduate Masters study. Holders of a good Masters degree from a recognised institution will be considered for PhD study.

Students who hold a Bachelor degree from a recognised institution will be considered for Postgraduate Diplomas and Masters degrees.  Most taught Masters programmes require a minimum of an upper second class degree (2.1) Students who have completed a Masters degree from a recognised institution will be considered for PhD study.

Holders of a good Masters degree from a recognised institution will be considered for entry to our postgraduate research programmes.

Holders of a good Masters degree or Mphil from a recognised university will be considered for entry to postgraduate research programmes.

Students with a Bachelors degree from the following universities may be considered for entry to postgraduate programmes:

• Ateneo de Manila University - Quezon City
• De La Salle University - Manila
• University of Santo Tomas
• University of the Philippines - Diliman

Students from all other institutions with a Bachelors and a Masters degree or relevant work experience may be considered for postgraduate programmes.

Grading Schemes

1-5 where 1 is the highest 2.1 = 1.75 2.2 = 2.25 

Out of 4.0 where 4 is the highest 2.1 = 3.0 2.2 = 2.5

Letter grades and percentages 2.1 = B / 3.00 / 83% 2.2 = C+ / 2.5 / 77%

Holders of a postdoctoral qualification from a recognised institution will be considered for PhD study.  Students may be considered for PhD study if they have a Masters from one of the above listed universities.

Holders of a Lisans Diplomasi with a minimum grade point average (GPA) of 3.0/4.0 from a recognised university will be considered for postgraduate study at Diploma or Masters level.

Holders of a Yuksek Diplomasi from a recognised university will be considered for PhD study.

Students who hold a Bachelor degree from a recognised institution will be considered for Postgraduate Diplomas and Masters degrees. Most Masters programmes will require a second class upper (2.1) or GPA of 3.5/5.0

Applicants for postgraduate research programmes should hold a good Bachelors degree / Диплом бакалавра (Dyplom Bakalavra), Диплом спеціаліста (Specialist Diploma) or a Dyplom Magistra from a recognised Ukrainian higher education institution with a minimum GPA of 4.0/5.0, 3.5/4, 8/12 or 80% or higher for 2:1 equivalence and will usually be required to have completed a good Masters degree to be considered for entry to postgraduate research programmes. Applicants with lower grades than this may be considered on an individual basis.

The University will consider students who hold an Honours degree from a recognised institution in the USA with a GPA of:

• 2.8 GPA (on a 4.0 scale) for entry to programmes with a 2:2 requirement 
• 3.2 GPA (on a 4.0 scale) for entry to programmes with a 2:1 requirement 

Please note that some subjects which are studied at postgraduate level in the USA, eg. Medicine and Law, are traditionally studied at undergraduate level in the UK.

Holders of the Magistr Diplomi (Master's degree) or Diplomi (Specialist Diploma), awarded by prestigious universities, who have attained high grades in their studies will be considered for postgraduate study.  Holders of the Fanlari Nomzodi (Candidate of Science), where appropriate, will be considered for PhD study.

Holders of the Licenciatura/Título or an equivalent professional title from a recognised Venezuelan university may be considered for entry to a postgraduate degree programme. Scales of 1-5, 1-10 and 1-20 are used, an overall score of 70% or equivalent can be considered equivalent to a UK 2.1.  Applicants for PhD level study will preferably hold a Maestria or equivalent qualification

Holders of a Bachelors degree from a recognised Vietnamese institution (usually achieved with the equivalent of a second class upper or a grade point average minimum GPA of 7.0 and above) will be considered for postgraduate study at Diploma or Masters level.  Holders of a Masters degree (thac si) will be considered for entry to PhD programmes.

Students who hold a Masters degree with a minimum GPA of 3.5/5.0 or a mark of 2.0/2.5 (A) will be considered for Postgraduate Diplomas and Masters degrees.   

Students who hold a good Bachelor Honours degree will be considered for Postgraduate Diplomas and Masters degrees. 

International Students

English requirements are IELTS 7.0 with no less than 6.5 in any band or equivalent.

Members of the Department of Finance can offer supervision within the following areas.

Corporate Finance

Capital structure decision making including interactions between corporate investment and dividend/capital structure decisions. Issues relating to capital structure and firm performance and the study of agency costs. The examination of corporate events such as  stock repurchases, corporate restructuring, mergers and acquisitions ,IPOs, delistings and financial distress & bankruptcy. Entrepreneurial finance, debt and equity gaps, venture capital and private equity, financial flexibility in firms and R&D smoothing.

Capital  Markets

Within the field of capital markets we can offer supervision which examines debt maturity, and a wide range of market microstructure topics including those relating to liquidity and liquidity risk, market architecture and the trading environment, as well as microstructure effects associated with the international cross-listing of securities.  The use of derivatives for risk management. Islamic Finance. Institutional investment, portfolio investment, risk and investment volatility

Financial Regulation and Corporate Governance

Corporate governance – including shareholder voting, engagement, stock lending, communication within the board of directors, and board behaviour and performance, executive compensation. Agency conflicts. The use of the interbank market as a regulatory device, Basel III and new rules for global finance,.

Banking and Financial Services

Doctoral researchers in Finance are registered for a full time 3-year PhD or a part-time 6-year PhD. In the first year of the programme doctoral researchers are required to take Econometrics with Financial Applications module from the Department of Economics (30 credit module). They also need to take at least one of the existing MSc Investments and MSc Accounting and Finance courses and one other module to successfully complete 60 credits of study. The MSc module and one other appropriate M or D level module should be chosen in agreement with the doctorial researcher’s supervisor, as appropriate for the their research topic.  Modules available include: Financial Modelling and Forecasting Techniques (20 credits), Empirical Topics in Accounting and Finance (20 credits) and Quantitative Methods in Finance (10 credits). Doctoral researchers are also recommended to take Advanced Training Modules from the MA Social Research Programme or other modules (e.g. Qualitative Methods) as appropriate to their research and training needs.

By the end of their first year doctoral students will have completed an 8,000 word research proposal that they will present and be evaluated on at the first annual review. This forms the basis for supervised research over the remaining two years of the programme and the production of an 80,000 word thesis.

Career prospects

PhD graduates from Birmingham Business School are working in central banks, Government departments, a variety of financial institutions, accountancy firms, supranational organisations and multinational corporations. Many of our PhD graduates also go on to forge successful academic careers in other top Universities.

Doctoral Research career assistance

The University of Birmingham has invested heavily in careers and employability support. The Careers Team have been praised for enhanced developments within their team and for adopting a model of integrated employability and internship support; something that has been rolled out and implemented across all Schools and Colleges at the University.

Doctoral researchers at Birmingham Business School benefit from its own well qualified dedicated Careers Team to support students with employment opportunities, work placements, internships and how to succeed at interview. In addition, a range of career management, personal development and employer events are run each year by the Careers in Business Team to help you make the most of the opportunities available.

The University also has dedicated careers advisors for international students  who run workshops and networking opportunities with potential employers. These are especially popular with international postgraduate researchers.

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MRes/PhD Finance

• Graduate research
• Department of Finance
• Application code N4ZC
• Starting 2024
• Home full-time: Closed
• Overseas full-time: Closed
• Location: Houghton Street, London

This programme offers the chance to undertake a substantial piece of work that is worthy of publication and which makes an original contribution to the field of finance. You will begin on the MRes, and will need to meet certain requirements to progress to the PhD.

Our programme is unique in its integration of finance and economics. During the first year, you will take microeconomics, macroeconomics, and econometrics courses alongside PhD students in Economics. However, in the second year you will differentiate by taking advanced courses in asset pricing and corporate finance. You will leave with a broad understanding of finance and its relations to other fields in economics.

As one of the largest finance departments in the world, we are able to offer opportunities for research in virtually any field in finance. We have strengths in theory and empirics, asset pricing and corporate finance, as well as financial econometrics, behavioural finance, macro-finance, and microeconomic analysis of financial markets and institutions.

You are expected to participate in the regular departmental seminars (weekly), as well as occasional workshops and conferences given by internationally renowned speakers. This is viewed as an important part of the learning process on the MRes/PhD in Finance.

Programme details

For more information about tuition fees and entry requirements, see the fees and funding and assessing your application sections.

Entry requirements

Minimum entry requirements for mres/phd finance.

Merit in a taught master's degree in finance, economics or another subject with a strong quantitative component.

Competition for places at the School is high. This means that even if you meet our minimum entry requirement, this does not guarantee you an offer of admission. 

If you have studied or are studying outside of the UK then have a look at our  Information for International Students  to find out the entry requirements that apply to you.

GRE/GMAT requirement

GRE or GMAT is required from all applicants (GRE is preferred)

Find out more about GRE/GMAT

Assessing your application

We welcome applications for research programmes that complement the academic interests of members of staff at the School, and we recommend that you investigate  staff research interests  before applying. However, please do not get in touch with faculty at this stage, 

We carefully consider each application on an individual basis, taking into account all the information presented on your application form, including your:

• academic achievement (including existing and pending qualifications)
• statement of academic purpose 
• outline research proposal
• sample of written work.

See further information on supporting documents

You may also have to provide evidence of your English proficiency. You do not need to provide this at the time of your application to LSE, but we recommend that you do.  See our English language requirements .

When to apply

The application deadline for this programme is 25 April 2024 . However, to be considered for any LSE funding opportunity, you must have submitted your application and all supporting documents by the funding deadline. See the fees and funding section for more details.

Statement of Academic Purpose

Your Statement of Academic Purpose should clearly explain the below:

• Why you want to do research in finance
• How your studies and experience make you suitable to do research in finance

Research interests

Your Research Interests should be submitted in place of the Outline Research Proposal, along with your application form and other required supporting documents, via the LSE online application system.

• Which aspect of the PhD do you think you will like the most? Which will you dislike the most? Why? (max. 200 words)
• Tell us about your favourite paper in financial economics. What do you like about it? How would you improve it? (max. 400 words)
• Write a comment for a general audience on a topic/question that interests you in finance: (max. 400 words).
• Is CEO compensation excessive?
• Markets function well as information is aggregated efficiently through prices.
• What are the benefits of shareholder activism?

Fees and funding

Fees and funding.

Every research student is charged a fee in line with the fee structure for their programme.  The fee covers registration and examination fees payable to the School, lectures, classes and individual supervision, lectures given at other colleges under intercollegiate arrangements and, under current arrangements, membership of the Students' Union. It does not cover living costs or travel or fieldwork.

Tuition fees 2024/25 for MRes/PhD in Finance

Home students: £4,829 for the first year (provisional) Overseas students: £22,632 for the first year

The fee is likely to rise over subsequent years of the programme. The School charges home research students in line with the level of fee that the Research Councils recommend. The fees for overseas students are likely to rise in line with the assumed percentage increase in pay costs (ie, 4 per cent per annum).

The Table of Fees shows the latest tuition amounts for all programmes offered by the School.

The amount of tuition fees you will need to pay, and any financial support you are eligible for, will depend on whether you are classified as a home or overseas student, otherwise known as your fee status. LSE assesses your fee status based on guidelines provided by the Department of Education.

Further information about fee status classification.

Scholarships and other funding

The School recognises that the  cost of living in London  may be higher than in your home town or country, and we provide generous scholarships each year to home and overseas students.

This programme is eligible for  LSE PhD Studentships , and  Economic and Social Research Council (ESRC) funding . Selection for the PhD Studentships and ESRC funding is based on receipt of an application for a place – including all ancillary documents, before the funding deadline.  

Funding deadline for LSE PhD Studentships and ESRC funding: 15 January 2024 Second funding deadline for LSE PhD Studentships: 25 April 2024

The Finance Department may also offer departmental scholarships.

In addition to our needs-based awards, LSE also makes available scholarships for students from specific regions of the world and awards for students studying specific subject areas.  Find out more about financial support.

External funding 

There may be other funding opportunities available through other organisations or governments and we recommend you investigate these options as well.

Further information

Fees and funding opportunities

Information for international students

LSE is an international community, with over 140 nationalities represented amongst its student body. We celebrate this diversity through everything we do.  

If you are applying to LSE from outside of the UK then take a look at our Information for International students . 

1) Take a note of the UK qualifications we require for your programme of interest (found in the ‘Entry requirements’ section of this page). 

2) Go to the International Students section of our website. 

3) Select your country. 

4) Select ‘Graduate entry requirements’ and scroll until you arrive at the information about your local/national qualification. Compare the stated UK entry requirements listed on this page with the local/national entry requirement listed on your country specific page.

Programme structure and courses

Programme structure and courses.

A PhD in Finance from LSE consists of six coursework units, completed over two years, followed by a thesis which is usually expected to take a further three or four years.

We encourage our research students to participate fully in the intellectual life of the Department, and in the research seminar and workshop programmes of the Department and related research centres such as the Financial Markets Group (FMG). The weekly Capital Markets Workshops provide exposure to the work of leading academics from the UK and overseas. In addition, the FMG hosts a number of conferences each year with leading researchers and practitioners.

Students will normally commence in late August, by attending an introductory course before the start of the academic year.

Introductory Course in Mathematics and Statistics Provides students with the essential mathematical, statistical, economic and econometric background for the core Economics courses of these programmes.

During their first year, students take courses in Advanced Microeconomics, Advanced Macroeconomics and Advanced Financial Econometrics to build their core knowledge in these areas. They will also take two transferable skills courses which are not examined.

There is also the option to attend non-examined research workshops or seminars in finance given by faculty and internationally renowned scholars. Students also attend a PhD seminar in Finance throughout their MRes/PhD studies.

Microeconomics for MRes Students Introduces the basic analytical tools that are necessary to conduct research in any field in economics.

Macroeconomics for MRes Students Covers topics in advanced macroeconomics with emphasis on fundamentals and applications to recent theoretical advances.

Econometrics for MRes students Covers probability, mathematical statistics, and asymptotic theory, and theory and application of regression analysis. Provides a survey of the theory and application of time series methods in econometrics.

Financial Economics This non-examined course provides an in-depth introduction to the theories of asset pricing and corporate finance.

Capital Markets Workshop   

Second year

Students take courses in Corporate Finance and Asset Pricing, in addition to completing a research paper. They are also expected to attend research workshops or seminars in finance given by faculty and internationally renowned scholars.

Corporate Finance for Research Students The first half of this course focuses on the theory of corporate finance. The second half of the course will consider empirical research in corporate finance.  

Asset Pricing for Research Students Covers asset pricing theory, empirical asset pricing, as well as empirical evaluation of asset-pricing models.

Research Paper in Finance A research paper of between 6,000 and 8,000 words, related to your designated major field, to be submitted at the end of August of the second year.

PhD Seminar in Finance A seminar course for PhD students in the early stages of their research to present their work in progress.

Capital Markets Workshop

PhD programme

After meeting the progression requirements, students progress to PhD registration and begin to work on their thesis

For the most up-to-date list of optional courses please visit the relevant   School Calendar page. 

You must note, however, that while care has been taken to ensure that this information is up to date and correct, a change of circumstances since publication may cause the School to change, suspend or withdraw a course or programme of study, or change the fees that apply to it. The School will always notify the affected parties as early as practicably possible and propose any viable and relevant alternative options. Note that the School will neither be liable for information that after publication becomes inaccurate or irrelevant, nor for changing, suspending or withdrawing a course or programme of study due to events outside of its control, which includes but is not limited to a lack of demand for a course or programme of study, industrial action, fire, flood or other environmental or physical damage to premises. 

You must also note that places are limited on some courses and/or subject to specific entry requirements. The School cannot therefore guarantee you a place. Please note that changes to programmes and courses can sometimes occur after you have accepted your offer of a place. These changes are normally made in light of developments in the discipline or path-breaking research, or on the basis of student feedback. Changes can take the form of altered course content, teaching formats or assessment modes. Any such changes are intended to enhance the student learning experience. You should visit the School’s  Calendar , or contact the relevant academic department, for information on the availability and/or content of courses and programmes of study. Certain substantive changes will be listed on the  updated graduate course and programme information  page.

Supervision, progression and assessment

Supervision.

You will be assigned a lead supervisor (and a second supervisor/adviser) who is a specialist in your chosen research field, though not necessarily in your topic. Lead supervisors guide you through your studies.

Progression and assessment

To progress at the end of each year, students must pass their examined courses at grades specified by the Department and make satisfactory progress in their research. Progress is regularly monitored by the Department's Postgraduate Assessment Review Panel.

You will also need to meet certain criteria to progress to PhD registration, such as achieving certain grades in your coursework, and earning a minimum mark on your research paper.

Your final award will be determined by the completion of an original research thesis and a viva oral examination.

More about progression requirements.  

Student support and resources

We’re here to help and support you throughout your time at LSE, whether you need help with your academic studies, support with your welfare and wellbeing or simply to develop on a personal and professional level.

Whatever your query, big or small, there are a range of people you can speak to who will be happy to help.  

Department librarians   – they will be able to help you navigate the library and maximise its resources during your studies. 

Accommodation service  – they can offer advice on living in halls and offer guidance on private accommodation related queries.

Class teachers and seminar leaders  – they will be able to assist with queries relating to specific courses. 

Disability and Wellbeing Service  – they are experts in long-term health conditions, sensory impairments, mental health and specific learning difficulties. They offer confidential and free services such as  student counselling,  a  peer support scheme  and arranging  exam adjustments.  They run groups and workshops.  

IT help  – support is available 24 hours a day to assist with all your technology queries.   

LSE Faith Centre  – this is home to LSE's diverse religious activities and transformational interfaith leadership programmes, as well as a space for worship, prayer and quiet reflection. It includes Islamic prayer rooms and a main space for worship. It is also a space for wellbeing classes on campus and is open to all students and staff from all faiths and none.   

Language Centre  – the Centre specialises in offering language courses targeted to the needs of students and practitioners in the social sciences. We offer pre-course English for Academic Purposes programmes; English language support during your studies; modern language courses in nine languages; proofreading, translation and document authentication; and language learning community activities.

LSE Careers  ­ – with the help of LSE Careers, you can make the most of the opportunities that London has to offer. Whatever your career plans, LSE Careers will work with you, connecting you to opportunities and experiences from internships and volunteering to networking events and employer and alumni insights. 

LSE Library   –   founded in 1896, the British Library of Political and Economic Science is the major international library of the social sciences. It stays open late, has lots of excellent resources and is a great place to study. As an LSE student, you’ll have access to a number of other academic libraries in Greater London and nationwide. 

LSE LIFE  – this is where you should go to develop skills you’ll use as a student and beyond. The centre runs talks and workshops on skills you’ll find useful in the classroom; offers one-to-one sessions with study advisers who can help you with reading, making notes, writing, research and exam revision; and provides drop-in sessions for academic and personal support. (See ‘Teaching and assessment’). 

LSE Students’ Union (LSESU)  – they offer academic, personal and financial advice and funding.  

PhD Academy   – this is available for PhD students, wherever they are, to take part in interdisciplinary events and other professional development activities and access all the services related to their registration. 

Sardinia House Dental Practice   – this   offers discounted private dental services to LSE students.  

St Philips Medical Centre  – based in Pethwick-Lawrence House, the Centre provides NHS Primary Care services to registered patients.

Student Services Centre  – our staff here can answer general queries and can point you in the direction of other LSE services.  

Student advisers   – we have a  Deputy Head of Student Services (Advice and Policy)  and an  Adviser to Women Students  who can help with academic and pastoral matters.

Student life

As a student at LSE you’ll be based at our central London campus. Find out what our campus and London have to offer you on academic, social and career perspective. 

Student societies and activities

Your time at LSE is not just about studying, there are plenty of ways to get involved in  extracurricular activities . From joining one of over 200 societies, or starting your own society, to volunteering for a local charity, or attending a public lecture by a world-leading figure, there is a lot to choose from. 

The campus 

LSE is based on one  campus  in the centre of London. Despite the busy feel of the surrounding area, many of the streets around campus are pedestrianised, meaning the campus feels like a real community. 

Life in London 

London is an exciting, vibrant and colourful city. It's also an academic city, with more than 400,000 university students. Whatever your interests or appetite you will find something to suit your palate and pocket in this truly international capital. Make the most of career opportunities and social activities, theatre, museums, music and more. 

Want to find out more? Read why we think  London is a fantastic student city , find out about  key sights, places and experiences for new Londoners . Don't fear, London doesn't have to be super expensive: hear about  London on a budget . 

The programme is aimed at training students to become an academic. Students who successfully complete the programme often embark on a career in academic institutions, or international organisations such as central banks or the IMF. See a list of past placements.

Further information on graduate destinations for this programme

Support for your career

LSE Careers has a wide range of resources available to assist students in their job search. Find out more about the  support available to students through LSE Careers .

Find out more about LSE

Discover more about being an LSE student - meet us in a city near you, visit our campus or experience LSE from home. 

Experience LSE from home

Webinars, videos, student blogs and student video diaries will help you gain an insight into what it's like to study at LSE for those that aren't able to make it to our campus.  Experience LSE from home . 

Come on a guided campus tour, attend an undergraduate open day, drop into our office or go on a self-guided tour.  Find out about opportunities to visit LSE . 

LSE visits you

Student Marketing, Recruitment and Study Abroad travels throughout the UK and around the world to meet with prospective students. We visit schools, attend education fairs and also hold Destination LSE events: pre-departure events for offer holders.  Find details on LSE's upcoming visits . 

How to apply

Virtual Graduate Open Day

Register your interest

Related programmes, mres/phd economics.

Code(s) L1U4

MSc Finance and Economics

Code(s) LN43

MPhil/PhD Statistics

Code(s) G4ZS

MRes/PhD Accounting (Accounting, Organisations and Institutions)

Code(s) N2ZD (AOI track)

MPhil/PhD Social Research Methods

Code(s) L9ZM

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UCL School of Management

University college london, phd programme in financial economics.

Start date:  September 2024 Duration: 5 years (1 year MRes + 4 years PhD) Fees:  We offer fully-funded scholarships to all admitted students who have applied by the 31 January 2024 (see details below)  Application deadline:  31 January 2024, 17:00 UK time (late applications submited by the 05 April 2024 may still be considered, see details below) Entry:  Applicants must hold a distinction in a master’s degree in Economics or a closely related subject. Applicants must demonstrate a high level of analytical and quantitative skills (such as in mathematics and statistics), evidenced by strong performance in relevant modules taken on previous degree programmes and/or through relevant standardised test performance (such as GRE Quantitative of at least 160). International students, please note that UCL’s English language requirement for this programme is a ‘ Level 2 ’ (IELTS and TOEFL are the preferred test, however others on the UCL recognised test list will be accepted if required) - further details regarding this can be found on the  UCL English Language Requirements  page.

The MRes and PhD in Financial Economics is a joint programme between the UCL Department of Economics and the UCL School of Management.

The MRes programme is the first year of the five-year integrated MRes/PhD programme in Financial Economics. The MRes programme will provide you with training in research methods together with an advanced understanding of financial economics, to enable you to conduct insightful and original PhD level research in financial economics. 

The MRes will firstly provide quantitative training in microeconomics, macroeconomics, econometrics, and finance. These will be taught in the context of cutting-edge research and relevant applications. Secondly, it will provide you with analytic frameworks and transferable skills that will allow you to identify relevant and promising research topics, present ideas in order to obtain feedback, and provide feedback yourself. 

The subsequent years (for students who progress from the MRes to MPhil) will focus on the skills you will need to run research projects to completion and to present completed research projects to various kinds of specialised audiences. Likewise, teaching skills will also be developed.

PhD Structure

• The MRes programme consists of taught modules (Microeconomics, Macroeconomics, Econometrics. Real Analysis and Probability with Economic Application), a hybrid module (Financial Economics) with taught components and research based components, and a research project in the final part of the year. For the MRes project, you work under supervision to design and carry out a substantial piece of original research. This enables you to gain a deep understanding of the entire research process.
• Superior performance is required for automatic progression from MRes to MPhil. In particular, students should achieve an average mark of not less than 60% in the independent, original research components of the programme, and not less than 50% in the taught element.
• Our highly selective and small-sized PhD programme ensures that each student receives personal attention and guidance from our faculty members throughout their doctoral study. The close mentorship process forms the foundations of a successful academic career. At the same time, you will be part of both the School of Management PhD cohort and the Economics PhD cohort, with which you will share most of the taught modules.
• We expect our PhD graduates to have as their goal an academic career as a faculty member in a top business school or Economics department or in the research group of an international institution or a central bank.

Students take a total of 180 credits in the MRes year. This is made up of the MRes Research Project (MSIN0135) and 75 credits of compulsory taught modules. 

All modules in the MRes year are core modules, there are no optional modules. 

• ECON0107 - Macroeconomics, 15 credits  
• ECON0106 - Microeconomics, 15 credits  
• ECON0108 - Econometrics, 15 credits  
• ECON0118 - Real Analysis and Probability with Economic Applications, 15 credits
• MSIN0234 - Topics in Financial Economics, 30 credits  
• MSIN0135 - MRes Financial Economics Research Project, 105 credits  

The programme is delivered through a combination of lectures, seminars, and class discussion. Student performance is assessed through presentations, coursework, projects, and examinations. 

Students will study 4 compulsory taught modules. A typical taught module is taught over two terms (2 x 10 weeks) with 4 hours of contact hours per week (3 hours of lecture + 1 hour of review session). In addition, students spend approximately 6-8 hours a week for each module on assessment and independent study to further develop the skills and knowledge covered in lectures and seminars.  

Students will also undertake a substantial research project, which would usually start in Term 2 and be completed over the Summer. The total number of weekly hours will vary according to the weekly activities being undertaken.

Why choose us

What makes us different:.

Unlike many PhD Programmes in finance, our programme has a full anchor in economics and econometrics. Hence, we offer a unique world-class environment that combines the best of a leading business school, located in Canary Wharf, the heart of London’s modern financial district, and the tradition of economic research and teaching of the Department of Economics, which is located in Bloomsbury, London’s historical intellectual centre.

If you want to become an academic economist conducting research in finance, this programme is for you.  

UCL School of Management and the Department of Economics  

Founded in 2007, UCL School of Management has forged a reputation for world-leading research in management studies with 95% of the School’s research deemed to be world-leading or internationally excellent, the second highest percentage of any business school in the UK, according to the 2021 REF . The PhD programme is an integral part of our School’s active and ambitious research environment where students receive rigorous academic training and personalised research mentorship. 

The UCL Department of Economics has an outstanding international reputation in key areas of current research. The Department ranked top in the UK for research environment and outputs in the field of Economics and Econometrics in the 2021 REF . 

Our research programme offers a unique education and research experience with the intent of preparing you for scholarly careers at the highest level. Our highly selective and small-sized programme ensures that you receive personal attention and an opportunity for guidance from our world-leading scholars. The close mentorship process forms the foundations of a successful academic career. 

As a research student you will join a highly active research environment which involves frequent research seminars and visits by leading scholars worldwide, reading groups, brown bag seminars and panels in which PhD students and faculty members present and discuss their ongoing work. Such forums provide an excellent opportunity to receive critical constructive feedback on your research and to develop academic, generic and transferable skills.

Applications

Applying for our mres/phd programme.

Entry requirements and admissions criteria:

Applicants to the MRes+PhD programme must hold a distinction in a master’s degree in Economics or a closely related subject. Applicants must demonstrate a high level of analytical and quantitative skills (such as in mathematics and statistics), evidenced by strong performance in relevant modules taken on previous degree programmes and/or through relevant standardised test performance (such as GRE Quantitative of at least 160). Submitting a GRE test result is encouraged but not compulsory and is only one of the components used to assess the strength of applications. 

We only have a single intake in September. We accept applications throughout the year. Successful candidates who have submitted their MRes application by 31 January 2024 will receive a scholarship (full fee waiver plus a stipend). Successful candidates who have submitted their application after this date may receive a scholarship subject to availability, or will come with their own funding.

In your personal statement you are expected to suggest one or more faculty members as potential supervisors. On the application form you may see that it states that it is preferred that you contact potential supervisors beforehand. However, we strongly discourage applicants from contacting individual faculty members or potential supervisors when applying to our programme. All applications are first evaluated by a joint admissions committee, so contacting potential supervisors separately will not increase your chances.

We also require you to submit IELTS or TOEFL scores if English is not your first language. Our School requires a “Level 2” English language qualification which corresponds to:

IELTS: Overall grade of 7.0 with a minimum of 6.5 in each of the sub-tests.

TOEFL: Score of 96 overall, plus 24/30 in the reading and writing subtests and 22/30 in the listening and speaking subtests. 

Application Deadline

The application window closes 31 January 2024 (17:00 UK time) and a late submission window closes on 05 April 2024 (17:00 UK time). We advise those interested in the programme to apply before 31 January 2024, as those applying in the late submission window will only be considered if there are still places remaining.

Application Procedure

Apply via UCL Postgraduate Admissions System here . When starting the application, you must select the MRes Financial Economics option. In addition to filling out the online application form, please upload a copy of the following documents:

• Official Transcripts of Grades / Course marks
• A 1 page personal statement that clearly indicates: (i) your research interests and preliminary research ideas, (ii) potential faculty member(s) you may want to work with (this is a suggested list, you don’t need to contact potential supervisors beforehand), and (iii) your motivation to do a PhD.
• Your  GRE  score report, if you took the test.
• Your IELTS/TOEFL score report, if English is not your first language.

Funding/Scholarships

We offer fully funded five year scholarships to all admitted students who apply before the 31 January 2024. The scholarship is open to all nationalities. It covers all tuition fees, and includes an annual stipend of £25,000 which is tax-free. 

Successful candidates who have submitted their application after 31 January 2024 may receive a scholarship subject to availability or will come with their own funding.

Additional Costs

This programme does not have any compulsory additional costs outside of purchasing books or stationery, printing, thesis binding or photocopying.  Students may have the opportunity to participate in conferences in the UK and internationally. The UCL School of Management provides MRes/PhD students with an annual budget for conferences, which students will use to cover the travel, accommodation, food and other costs whilst at conferences, in line with UCL’s expenses policy. 

Further Information and Contact Details

The full-time MRes/PhD programme runs from September each academic year. Entrance is therefore every September. While we may accept applications until 05 April 2024 we encourage candidates to apply as early as possible. Our programme is very selective and we only admit a limited number of students, so applying before 31 January 2024 increases your chances.

How to Apply

For queries about the MRes/PhD Programme that are not addressed on our web pages, please contact [email protected] .

Video Library

Frequently Asked Questions about the UCL School of Management MRes/PhD Programme

Programme Information

Application process, admissions requirements.

Students are required to possess a “Level 2” English language qualification if it is not their first language. This means: TOEFL: Score of 96, plus 24/30 in the reading and writing, and 22/30 in the listening and speaking subtests. IELTS: Overall grade of 7.0 with a minimum of 6.5 in each of the subtests.

Further Information

If you have any other questions regarding the programme that are not addressed on our web pages please email the programme team ( [email protected] )

Global main menu

• School of Economics and Finance
• Postgraduate

The standard entry route to the PhD programme is through the School’s MRes programmes in Economics and Finance .

The breadth and depth of our expertise enables us to offer supervision in all major areas of economics and finance. The School has more than 40 research-active faculty working in a wide range of research areas, including macroeconomics, microeconomic theory and game theory, applied microeconomics, econometric theory, time series analysis, theoretical and empirical finance, and financial econometrics.

Recent faculty research has appeared in leading economics and finance journals, including Econometrica, the American Economic Review, the Review of Economic Studies, the Journal of Political Economy, the Quarterly Journal of Economics, the Journal of Econometrics, and the Journal of Finance. Individual members of staff also have active collaborations with various governmental and non-governmental agencies, including the UK Treasury, the Bank of England, the World Bank, the Inter-American Development Bank, OECD, and ILO.

The School runs external weekly seminars with invited speakers from top European and North American universities and internal workshops.

We have an international community of PhD students , who are central to the research culture of the School. Students are offered an inclusive environment with excellent infrastructure and many opportunities for formal and informal interaction with staff. Students are also provided with office space, a desktop computer, and an annual research allowance.

Excellent career opportunities are open to our PhD graduates. Recent placements include lectureships or postdoc research positions at the universities of Cambridge, York, Leicester, Aarhus, Vienna and Sao Paulo, as well as the Institute for the Study of Labor (IZA). Our graduates are also typically hired by central banks: recent placements include the Bank of England, the Bank of France, the Bank of Italy, and the Central Bank of Uruguay.

The standard entry route to the PhD programme is through the MRes programmes in Economics and Finance, please visit the MRes programme deadlines page. 

Follow SEF on Social Media:

Alternatively, use our A–Z index

Attend an open day

Discover more about postgraduate research

PhD Accounting and Finance / Overview

Year of entry: 2024

• View full page
• Bachelor's (Honours) degree at 2:1 or above (or overseas equivalent); and
• Master's degree in a relevant cognate subject - with an overall average of 70% or above (or overseas equivalent)
• Professional qualifications other than a Bachelors Degree and/or relevant and appropriate experience may be taken into account for entry to a PhD programme.

Full entry requirements

Apply online

Please ensure you include all required supporting documents at the time of submission, as incomplete applications may not be considered.

Application Deadlines

The current deadline for consideration in internal funding competitions is 15 March 2024.

If you are applying for or have secured external funding (for example, from an employer or government) or are self-funding, you must submit your application before the below deadline to be considered. You will not be able to apply after this date has passed.

• For September 2024 entry: 30 June 2024

Programme options

Programme overview.

• Develop leading research in Accounting and Finance.
• Join one of the world's most innovative and ambitious doctoral research schools.
• Ranked 3rd in the UK for research power in 'Business and Management Studies' (REF2021).

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To find out what studying on a postgraduate research programme at Manchester is like, visit our Open days and study fairs page and explore our virtual open week or future on-campus and international events.

We will be conducting our Humanities PGR virtual open week in October 2024. Find out about future events and postgraduate research sessions by signing up to our email alerts.

For entry in the academic year beginning September 2024, the tuition fees are as follows:

• PhD (full-time) UK students (per annum): £4,786 International, including EU, students (per annum): £21,000
• PhD (part-time) UK students (per annum): £2,393 International, including EU, students (per annum): £10,500

Further information for EU students can be found on our dedicated EU page.

Scholarships/sponsorships

To apply University of Manchester funding, you must indicate in your application the competitions for which you wish to be considered. The current deadline for most internal competitions, including Alliance Manchester Business School studentships is 15 March 2024.

All external funding competitions have a specified deadline for submitting your funding application and a separate (earlier) deadline for submitting the online programme application form, both of which will be stated in the funding competition details below.

For more information about funding, visit our funding page to browse for scholarships, studentships and awards you may be eligible for.

• ESRC North West Social Science Doctoral Training Partnership (NWSSDTP) PhD Studentships - Competition Closed for 2024 Entry
• China Scholarship Council - The University of Manchester (CSC-UoM) Joint Scholarship Programme - Competition Closed for 2024 Entry
• Alliance Manchester Business School PhD Studentships 2024 Entry - Competition Closed for 2024 Entry
• President's Doctoral Scholar (PDS) Awards - Competition Closed for 2024 Entry
• Engineering and Physical Sciences Research Council Doctoral Training Partnership Studentship (EPSRC DTP)
• Commonwealth PhD Scholarships (High Income Countries)
• Humanities Doctoral Academy Humanitarian Scholarship 2024 Entry
• Commonwealth PhD Scholarships (Least Developed Countries and Fragile States)
• RADMA Doctoral Studies Funding 2024 Entry - Competition Closed for 2024 Entry
• PhD Scholarship for Research into Productivity

Contact details

Programmes in related subject areas.

Use the links below to view lists of programmes in related subject areas.

• Accounting and Finance

Regulated by the Office for Students

The University of Manchester is regulated by the Office for Students (OfS). The OfS aims to help students succeed in Higher Education by ensuring they receive excellent information and guidance, get high quality education that prepares them for the future and by protecting their interests. More information can be found at the OfS website .

You can find regulations and policies relating to student life at The University of Manchester, including our Degree Regulations and Complaints Procedure, on our regulations website .

Study Postgraduate

Finance and economics (mres/phd) (2024 entry).

Course code

30 September 2024

2 + 4 years full-time

Qualification

Warwick Business School

University of Warwick

Find out more about our Finance and Economics MRes/PhD.

Make your mark on the financial world through impactful research with our Finance and Economics MRes/PhD at the University of Warwick. Study at the internationally renowned Warwick Business School, where you will have the opportunity to research key financial factors affecting businesses.

* Please note that, for Visa purposes, this is considered a Taught course which means that students requiring Student Visa sponsorship will not be able to bring dependants to the UK unless they are government sponsored.

Course overview.

Please note applications for this course are now closed for 2024 entry.

Our fully-funded MRes/PhD Finance and Economics programme combines highly relevant and structured training with close mentorship from a team of supervisors to embed you in our culture of curiosity and help you in developing and deepening your chosen area of research. We value our doctoral researchers and aim to attract students from across the globe who are independent thinkers, restless to learn more and challenge themselves. We particularly welcome applicants whose ambition is a career in academia.

Jointly run with the Department of Economics, we aim to establish our MRes programme as one of the leading programmes in Europe, supporting you to pursue a future career in top academic positions, international organisations and central banks. This programme will provide you with a thorough understanding of state-of-the-art research techniques and in-depth appreciation of principal areas of interest for researchers in finance and economics.

Teaching and learning

You will study four compulsory modules in Year One, and five compulsory modules plus a dissertation in Year Two. You will then continue on to our PhD Finance programme, and complete your doctoral thesis. The overall course structure is 2+4 years (MRes/PhD).

Our excellent library and superb teaching and learning facilities provide the perfect place for you to commit to your studies, and enable you to expand and deepen your knowledge in your chosen area of research.

General entry requirements

Minimum requirements.

Competition to join our Doctoral programme is very strong; you will need to demonstrate you have the intellectual capabilities, stamina, drive and commitment to complete a ground-breaking piece of work through independent study.

Academic requirements for our MRes/PhD Finance and Economics programme

• An honours degree from a UK university or equivalent from an overseas university; plus a Masters degree, in economics or Finance (with a significant quantitative finance component). Accounting or Financial Mathematics may be considered with a significant finance component. A first-class degree and a distinction at Masters level is recommended but serves as a guideline only
• A GMAT or GRE score is required and should be provided as part of your application. However, we have no defined threshold and the score provided will be indicative to merely supplement and strengthen applications
• You should have strong academic references and excellent potential for research.

English language requirements

You can find out more about our English language requirements Link opens in a new window . This course requires the following:

If English is not your first language, you must meet a minimum overall standard in a recognised test of English. You must show a good balance across all sections of the test and it must have been taken within two years of starting the course. We will require your certificates as evidence.

• IELTS - overall score of 7.0, minimum component scores of two at 6.0/6.5 and the rest at 7.0 or above
• PTE academic - 70 with 51+ in every section
• CPE – grade C (CEFR level C2) or above
• CAE - Grade C scoring 60+, no worse than 3 component results at borderline and 1 at weak.

International qualifications

We welcome applications from students with other internationally recognised qualifications.

For more information, please visit the international entry requirements page Link opens in a new window .

Additional requirements

There are no additional entry requirements for this course.

Our research

Our vision is to develop cutting-edge research that leads debate and deepens our understanding on the practice of finance and economics. Research is undertaken in partnership with policy and practice, to ensure both relevance and practical application. Our desire to respond and contribute to varied societal issues, provides a vibrant and creative environment for research to flourish.

Our research strengths include:

• Asset Pricing
• Behavioural Finance
• Corporate Finance
• Corporate Governance
• Financial Econometrics
• Investments
• Mergers and Acquisitions
• Risk Management.

Find a supervisor

During the second year of the MRes, you will be allocated a supervisor. A second supervisor will be allocated if you are admitted into the PhD, at the end of the MRes. The two supervisors will have appropriate research expertise and interests.

Please do not contact potential supervisors when completing your application, as we do not recruit PhD students in this way.

Tuition fees

Our MRes/PhD Finance and Economics programme is fully funded. All students accepted onto the programme will have their full fees paid and will receive an annual stipend of approximately £21,000 per annum throughout their course, subject to satisfactory progress.

Students do not need to apply separately for this funding. It will be included as part of the offer onto the programme.

Fee Status Guidance

We carry out an initial fee status assessment based on the information you provide in your application. Students will be classified as Home or Overseas fee status. Your fee status determines tuition fees, and what financial support and scholarships may be available. If you receive an offer, your fee status will be clearly stated alongside the tuition fee information.

Do you need your fee classification to be reviewed?

If you believe that your fee status has been classified incorrectly, you can complete a fee status assessment questionnaire. Please follow the instructions in your offer information and provide the documents needed to reassess your status.

Find out more about how universities assess fee status

Additional course costs

As well as tuition fees and living expenses, some courses may require you to cover the cost of field trips or costs associated with travel abroad. Information about department specific costs should be considered in conjunction with the more general costs below, such as:

As well as tuition fees and living expenses, some courses may require you to cover the cost of field trips or costs associated with travel abroad.

For departmental specific costs, please see the Modules tab on the course web page for the list of core and optional core modules with hyperlinks to our  Module Catalogue  (please visit the Department’s website if the Module Catalogue hyperlinks are not provided).

Associated costs can be found on the Study tab for each module listed in the Module Catalogue (please note most of the module content applies to 2022/23 year of study). Information about module department specific costs should be considered in conjunction with the more general costs below:

• Core text books
• Printer credits
• Dissertation binding
• Robe hire for your degree ceremony

Scholarships and bursaries

Our MRes/PhD Finance and Economics programme is fully funded. All students accepted onto the programme will have their full fees paid and will receive an annual stipend of approximately £18,000 per annum throughout their course, subject to satisfactory progress.

Living costs

Find out more about the cost of living as a postgraduate student at the University of Warwick.

If you’re interested in the bigger picture, comfortable challenging assumptions and want a degree that will open doors, then WBS is the place for you. We will give you the foundation for change and prepare you for your future career. Are you ready to make your mark in the world of business?

Find out more about us on our website.

The vision of WBS is to be Europe’s leading University-based Business School, developing transformational ideas and people that shape how we do business. We recognise that rankings are one way to profile our progress towards fulfilling this vision, and are proud to participate in the major global business education rankings.

MSc Finance

• 4 th in the UK and 16 th in the world - Financial Times Masters in Finance Pre-experience Ranking 2023
• 6 th in the UK and 19 th in the world - QS Business Masters Rankings 2024

MSc Management

• 1 st in the UK and 18 th in the world - Economist/WhichMBA - 2021 Masters in Management biennial ranking
• 2 nd in the UK and 28 th in the world - Financial Times Masters in Management Ranking 2023
• 3 rd in the UK and 18 th in the world - QS Business Masters Rankings 2024

MSc Marketing & Strategy

• 2 nd in the UK and 9 th in the world - QS Business Masters Rankings 2024

MSc Business Analytics

• 2 nd in the UK and 14 th in the world - QS Business Masters Rankings 2024

Our Postgraduate Taught courses

Msc courses.

• Accounting and Finance (MSc)
• Business Analytics (MSc)
• Business and Finance (MSc)
• Business with Marketing (MSc)
• Business with Operations Management (MSc)
• Finance (MSc)
• Finance and Economics (MSc)
• Global Central Banking and Financial Regulation (MSc)
• International Business (MSc)
• Management (MSc)
• Management of Information Systems and Digital Innovation (MSc)
• Marketing and Strategy (MSc)
• Mathematical Finance (MSc)
• MBA (Accelerator)
• MBA (Executive)
• MBA (Global Online)
• MBA (Full-time)

Executive Diplomas

• Advanced Management (PGA/PGCert/PGDip)
• Behavioural Science (PGA/PGCert/PGDip)
• Digital Leadership (PGA/PGCert/PGDip)
• Marketing Leadership (PGA/PGCert/PGDip)
• Strategic Leadership & Change (PGA/PGCert/PGDip)
• Strategy & Innovation (PGA/PGCert/PGDip)

Our Postgraduate Research courses

• Business and Management (MRes/PhD)
• Doctor of Business Administration (DBA)
• Finance and Economics (MRes/PhD)

How to apply

Applications for 2024 entry are now closed. Applications for 2025 entry will open in October 2024.

How to apply for a postgraduate research course  

After you’ve applied

Find out how we process your application.

Applicant Portal

Track your application and update your details.

Admissions statement

See Warwick’s postgraduate admissions policy.

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Ask questions and engage with Warwick.

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Postgraduate fairs.

Throughout the year we attend exhibitions and fairs online and in-person around the UK. These events give you the chance to explore our range of postgraduate courses, and find out what it’s like studying at Warwick. You’ll also be able to speak directly with our student recruitment team, who will be able to help answer your questions.

Join a live chat with our staff and students, who are here to answer your questions and help you learn more about postgraduate life at Warwick. You can join our general drop-in sessions or talk to your prospective department and student services.

Departmental events

Some academic departments hold events for specific postgraduate programmes, these are fantastic opportunities to learn more about Warwick and your chosen department and course.

See our online departmental events

Warwick Talk and Tours

A Warwick talk and tour lasts around two hours and consists of an overview presentation from one of our Recruitment Officers covering the key features, facilities and activities that make Warwick a leading institution. The talk is followed by a campus tour which is the perfect way to view campus, with a current student guiding you around the key areas on campus.

Connect with us

Learn more about Postgraduate study at the University of Warwick.

Page updates

We may have revised the information on this page since publication. See the edits we have made and content history .

Why Warwick

Discover why Warwick is one of the best universities in the UK and renowned globally.

9th in the UK (The Guardian University Guide 2024) Link opens in a new window

67th in the world (QS World University Rankings 2024) Link opens in a new window

6th most targeted university by the UK's top 100 graduate employers Link opens in a new window

(The Graduate Market in 2024, High Fliers Research Ltd. Link opens in a new window )

About the information on this page

This information is applicable for 2024 entry. Given the interval between the publication of courses and enrolment, some of the information may change. It is important to check our website before you apply. Please read our terms and conditions to find out more.

PhD with Integrated Study in Finance

Our Accounting and Finance subject group is one of the largest in the Business School, with approximately 50 academic colleagues providing high quality teaching and research, and a range of research centres and networks which create real-world influence in business, government, and the public sector.

This programme is currently undergoing the final approval process. We anticipate applications will open in January 2024.

The programme offers credited research training for those researching a financial topic, such as behavioural finance, asset pricing, corporate finance and governance, and aspects affecting financial markets and institutions. Supported by experts within the field, you will have the opportunity to develop a doctoral thesis based on original and relevant research.

PhD with Integrated Study in Finance at a glance

• Study over four years full time, with an additional 'writing-up' year available to all
• During your first year, undertake 180 credits of taught courses designed to train you in the theory and methods necessary to conduct high-quality research
• Access numerous database subscriptions to support your research, such as Bloomberg, Capital IQ, Datastream, Eikon, Morningstar Direct, SNL Financial, and Wharton Research Data Service (WRDS) which features, among others, access to Boardex, Compustat, CRSP, and Sustainalytics data
• Support and access to a wide range of professional and personal development opportunities during your studies
• We encourage our students to aim higher, presenting papers at prestigious conferences and submit articles for publication

Entry requirements

Find out our academic, English language, and application requirements for the PhD in Finance.

Programme overview

View the learning outcomes and a typical training course schedule for a first-year student.

Fees and living expenses

When budgeting please consider associated administration fees and expenses as well as our funding support.

Ready to apply?

Review our application checklist and make your application to the PhD in Finance.

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• The University of Warwick

MRes/PhD Finance & Economics

Experience independent thinking in a world-class interdisciplinary environment.

Our new fully-funded MRes/PhD Finance & Economics programme combines highly relevant and structured training with close mentorship from a team of supervisors, embedding you in our culture of curiosity and helping you develop and deepen your chosen area of research. We value our doctoral researchers and aim to attract students from across the globe who are independent thinkers, restless to learn more and challenge themselves. We particularly welcome applicants whose ambition is a career in academia.

Jointly run with the  Department of Economics , we aim to establish our MRes programme as one of the leading programmes in Europe, supporting you to pursue a future career in top academic positions, international organisations and central banks. This programme will provide you with a thorough understanding of state of the art research techniques and in-depth appreciation of principal areas of interest for researchers in finance and economics. 

Our MRes/PhD Finance & Economics programme is a full time two + four year programme (six years in total).

Please note applications are now closed for 2024 entry. Applications for 2025 entry will open in October 2024.

• Application Deadline Closed for 2024 entry
• Start Date 01 October 2024
• Duration 2+4 years
• Location Warwick Campus
• Format Full-time
• UK Fees Fully-funded *
• EU/International Fees Fully-funded *

* See fees and funding for fees breakdown.

If you have any questions regarding the WBS PhD programme, please do not hesitate to contact the team:

Email:   [email protected]

Call:   +44 (0)24 7652 4754

For our students, learning isn’t confined by physical walls. If you excel through independent learning and have an eagerness to learn then WBS is the place for you. The core benefits of our PhD programme include: 

• A fully-funded programme and an annual stipend of approximately £21,000 per annum.
• An inspirational learning experience in a world-class interdisciplinary environment, working alongside the brightest scholars and learning from leading academics from across the globe.
• Highly relevant and structured training which is recognised by the Economic and Social Research Council (ESRC) focusing on developing your core research skills.
• Programme flexibility allowing you to tailor your studies to a particular topic you are passionate about.

Preparation for an academic or research career.

The Gillmore Centre for Financial Technology has joined forces with West Midlands body SuperTech to launch a roadmap to boost the regional economy over the next 10 years.

Yuval Millo reveals how the framework he developed with colleagues can help co-operatives turn their social impact into value.

Experts from Warwick Business School warned Bank of England proposals to regulate stablecoins involved significant challenges, but would also create opportunities.

• Postgraduate Research

Accounting and Finance PhD

• Part time available: yes

Studying in:

• Management School
• Faculty of Humanities and Social Sciences

Our Accounting and Finance PhD aims to develop world-class researchers, specialised in building theory and producing valuable insight into current issues in accounting and finance.

Why study with us?

of our School's research classified as 'world leading' (4*) or 'internationally excellent' (3*) in the latest Research Excellence Framework (2021)

international experts shape world-class academic thought

of our research environment classified 'world leading' (4*) or 'internationally excellent' (3*) in the latest Research Excellence Framework (2021)

The University of Liverpool Management School’s (ULMS) Accounting and Finance PhD programme covers a wide range of areas for investigation, with special emphasis on the role accounting and finance play on organisational success, risk management and dealing with uncertainties.

The training offered is tailored, with specific modules aimed at facilitating the development of your individual research project:

• Corporate Finance and Accounting
• Theory Asset Pricing Theory
• Empirical Corporate Finance
• Accounting Empirical Asset Pricing.

To ensure you receive the most relevant support during the thesis development stage, you will work with a primary supervisor, who is a leading expert in their field.

Additionally, you will be supported by a secondary supervisor, who is typically promising early career researcher, specialising in your specific area of study.

Research themes

The University of Liverpool Management School   is a UK triple accredited ( AACSB , AMBA , and EQUIS ) leading and internationally recognised research institution, with outstanding REF 2021 results against 108 ranked Business and Management Schools across the country:

• 12th for submissions judged as World Leading (4*) or Internationally Excellent (3*)
• 16th for research outputs classified as World Leading (4*)
• 9th place for Research Power (17 places higher than in 2014)
• 100% of research supported by a World Leading (4*) or Internationally Excellent (3*) environment.

The School’s Accounting and Finance group is one of largest in the UK, with members regularly publishing in a range of top scholarly journals, including the Review of Financial Studies, Journal of Financial Economics, Journal of Accounting and Economics, Management Science, etc.

The School also has five research centres and one cluster , specialised in contemporary issues in business and society, and aimed at bringing together expertise across the School and University.

As a PhD student you are welcome to join any of these centres, as they present excellent opportunities to access internal and external research networks around cutting-edge themes.

Research interests

We welcome research proposals including, but not limited to:

• Asset pricing and investment
• Corporate finance and accounting
• International financial markets and the macroeconomy
• Financial technology (Fintech).

Please, make sure your application adheres to the following structure (maximum 3,000 words):

• Title of the proposal
• Introduction and expected contribution and its significance
• Literature review
• Proposed research questions
• Proposed methodology (fit with research/experience/need for training)
• Gantt chart
• References.

As a PhD student at the Management School you will enjoy access to a ‘Hot Desk’ working environment.

In addition to printing/photocopying/scanning facilities, the Management School has two dedicated computer suites located on the ground floor:

• The  McKenzie Trading Room offers 40 PCs with Bloomberg access. Each PC has a dual monitor and a Bloomberg keyboard
• The Grove Wing Computer Room has 28 PCs running on the standard University of Liverpool Network, with DataStream available on several computers.

You will gain access to globally recognised databases for business research, including:

• China Stock Market and Accounting (CSMAR)
• Refinitiv Eikon
• TickHistory
• Wharton Research Data Services (WRDS) .

Research groups

Research by subject groups

We have six groups which form homes for both research and teaching, providing the management and infrastructure to ensure vitality and sustainability of our research environment.

• Accounting and Finance
• Operations and Supply Chain Management
• Strategy, International Business and Entrepreneurship
• Work, Organisation and Management

Research centres and clusters

Research centres develop the School's contribution to established themes with a strong focus on applying ideas through funding and impact-related work.

Research clusters are grass-roots driven and interdisciplinary, focussing on the development of new theoretical and empirical work, typically at the early stages of the knowledge production/impact cycle.

• The Brett Centre for Entrepreneurship
• Centre for Supply Chain Research
• Centre for Sports Business
• Centre for Sustainable Business
• Centre for Organisational and Employee Wellbeing
• Liverpool Advanced Methods for Big Data Analytics (LAMBDA) Research Cluster

Study options and fees

The fees stated in the table above exclude potential research support fees also known as ‘bench fees’. You will be notified of any fee which may apply in your offer letter.

* Please note that if you are undertaking a PhD within the Faculty of Science and Engineering the fee you pay, Band A or Band B, will reflect the nature of your research project. Some research projects incur a higher fee than others e.g. if you are required to undertake laboratory work. You will be informed of the fee for your programme in your offer letter.

^ Self-funded, full-time international students studying a PhD programme classified as Band A will receive a £2,000 reduction in their fees for the first year only.

Entry requirements

Applications are welcomed and will be considered in our highly competitive programme from well qualified graduates who would typically hold a UK first degree or equivalent in the first or 2:1 class, in a relevant subject.

English language requirements

How to apply.

Research degree applications can be made online.  You'll also need to ensure that you have funding to cover all fees.

Applications are  open all year round .

More about applying for research degrees

Apply online

Before you apply, we recommend that you identify a supervisor and develop a research proposal

Find a supervisor

View staff list

Need help finding a supervisor? Contact us

• Dr Yang Zhao
• Email: [email protected]

Related studentships: self-funded and funded PhD projects

Related doctoral training partnerships.

Doctoral Training Partnerships support future researchers with funding and a rewarding learning environment where you can collaborate with leading researchers.

• ESRC - NW Social Science DTP

Find a scholarship

We offer a range of scholarships to help you meet the costs of studying a research degree.

See scholarships

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• PhD & research …
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The Finance PhD…

The Finance PhD pathway

• Why a CJBS PhD?
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Master of Research (MRes)

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The Finance group at Cambridge Judge Business School covers a broad spectrum of issues in finance. We define finance as more than a set of financial transactions – it is the glue that holds together corporations, capital markets and the real economy. 

We pursue research on empirical and theoretical corporate finance, asset pricing, and financial accounting as well as the intersections of finance and economics. In doing so, we treat finance as both an art and a science.

Professor Raghavendra Rau talks about the Finance pathway.

Hello. My name is Raghu Rau, and I’m the Head of the Finance and Accounting group here at Cambridge Judge Business School. Finance is actually an area which deals with four different groups of people.

We are looking at investors. Investors are people who give money to corporations and to reinvest in investment project and so on. We’re looking at corporations who take money from individuals and use that to invest in different types of projects. We have financial intermediaries, who sit between the corporations and individuals trying to make sure they have the best match between projects which the companies are offering and the individuals who want to invest in these projects. And finally, you have government and regulators who make sure the whole process is fair.

Here at Cambridge Judge Business School, we focus mostly on corporate finance. So in particular, we look at empirical corporate finance. What that means is most of our research uses actual data from companies. We look at why companies use particular types of financial policy.

We look at why individuals make certain types of decisions, whether they do this rationally, whether they’re driven by behavioural biases, and so on. We look at what conflicts of interest might make financial intermediaries advocate one type of action rather than another, for example, why they might ask firms to issue equity in place of debt and other factors like that. Overall, our focus is on trying to get actual data, hard data, which tells us exactly– allows us to get at the truth, allows us to figure out what it is that individuals, managers, and financial intermediaries are really thinking when they make financial decisions.

A lot of the data we use comes from deep engagement with companies. So in fact, here at Cambridge Judge Business School, we engage a lot with individuals who are at high level positions at firms. And because we are the University of Cambridge, we have been able to get access to a lot of unique data sets, which are not available typically at most universities across the world. And we use these to answer these types of questions.

What type of student are we looking for? Basically, someone who is interested in finding out the truth. The problem with industry is that you cannot really spend much time digging into to issues and figure out what is really going on.

We don’t just have the time. You need to talk to your clients. You need to talk to your company. These are short-frame, short-term projects, which typically last more than less than about three to six months.

Three to six months is a very, very short time for an academic. If you’re interested in truly figuring out how things work, you really have to go in-depth into these matters. And that might take a year, maybe two years. At the end of the day, we’re looking for someone who is at heart interested in the truth, someone who is, well, for better words, an academic.

View video with transcript

The pathway

To start on the Finance pathway you must take one of the following 9-month masters programmes:

Master of Research (MRes) (for students with a Cambridge MPhil in Economic Research)

Essential reading

Download detailed information about the 9-month + 4-year programme structure and content.

• Research areas What we expect from you What you can expect from us PhD supervisors
• What we expect from you Research areas What you can expect from us PhD supervisors
• What you can expect from us Research areas What we expect from you PhD supervisors
• PhD supervisors Research areas What we expect from you What you can expect from us

Research areas

Our faculty research is based around empirical and theoretical corporate finance, asset pricing, and financial accounting as well as the intersections of finance and economics. You will have the opportunity to conduct cutting-edge research on the multi-faceted linkages between investors, intermediaries and corporations. While the questions are academic in nature, we strive for solutions that can inform the practice of finance, and we incorporate this spirit into our teaching and other classroom interactions. 

Application of econometric methods and theoretical tools from contract theory and financial economics

• Provides the methodical rigour to infer causal statements about the way the world works.
• Allows us to shed light on questions that we, and businesses in the real world, deemed to be interesting and important at this time.
• Leads to key new understandings, eg the importance of the role of financial intermediation for growth and welfare.

Analysing the ‘black box’ that is financial institutions

• Work on topics and papers related to the study of commercial banks, investment banks, universal banks, mutual funds, hedge funds and other providers of financial services.
• Market failures and inefficiencies as a result of what happens within firms, not just between financial institutions and those seeking their services.
• Analysis of how firms work – how are compensation contracts written, and why do companies pay bribes to politicians?
• Analysis of investors that invest in firms through a set of financial intermediaries. How do these investors understand risk? Can managers and intermediaries consistently fool them into paying too much for securities or assets?

We pay close attention to human decision-making and behavioural anomalies, both of which also apply to the broader context of capital markets and financial accounting.  

What we expect from you

You will need to have earned a first class undergraduate degree or equivalent. In some cases you will need to have a graduate degree from a highly regarded university in financial, mathematical or business economics, and to have performed within the top 5% in your class.

You will also be able to demonstrate a high level of commitment to an academic career in a business school, to this end your academic preparation is key. Finance research is quantitative in nature and your background will reflect quantitative and methodological rigour. 

For more details, please see the academic requirements for the:

What you can expect from us

• You will be considered a junior colleague rather than a student from the outset of the programme. 
• Work with faculty on joint research projects for publication in leading academic journals.  
• Learn from a series of courses focused on research methodology and the foundations of the discipline. 
• Attend seminars given by the top researchers in the field. 
• Benefit from close interactions both within the Finance subject group and beyond including external researchers, meetings with speakers and research visits to some of the finest finance departments outside Cambridge. 
• You will be fully funded during your years on the programme. 
• Access researchers across the University of Cambridge, studying a huge variety of topics at a world-class level. 
• Take advantage of the specialised interdisciplinary centres established by the Finance group, and access unique data found nowhere else in the world. 

PhD supervisors

Your principal supervisor will be a senior academic, often Professor or Associate Professor, from within the Finance group. You will benefit from their guidance and counsel throughout the programme, and beyond: in helping you to succeed in the job market and in gaining a faculty position at a leading business school. Your principal supervisor will take an active role in your research programme and will assemble a group of faculty (your advisory committee) who will co-author papers with you. 

Take a look at the faculty who may serve as your principal supervisor and view their research interests:

David Chambers

Invesco professor of finance, read more about david.

Research interests

David Chambers researches investment management; financial history; endowment asset management; IPOs; law and finance.

View David's profile

Elroy Dimson

Professor of finance, not available to take incoming phd students in october 2024., read more about elroy.

Elroy Dimson researches investment management; financial market history; endowment asset management; sustainable and responsible investing.

View Elroy's profile

Oğuzhan Karakaş

Associate professor in finance, read more about oğuzhan.

Oguzhan Karakas researches corporate governance; ownership and control; corporate social responsibility; private equity; dynamic investment strategies.

View Oğuzhan's profile

Andrei Kirilenko

Read more about andrei.

Andrei Kirilenko researches the intersection of finance, technology and regulation; fintech; asset pricing, data, and digital technologies; the design of automated financial markets and instruments.

View Andrei's profile

Bart Lambrecht

Read more about bart.

Bart Lambrecht researches various aspects of corporate finance such as real options and investment under uncertainty; mergers and acquisitions; payout policy; managerial agency and the role of asymmetric information; bankruptcy; and the financing of firms; housing and household finance; bank lending and bank capital structure.

View Bart's profile

Bang Dang Nguyen

Read more about bang.

Bang Dang Nguyen researches corporate finance; empirical finance; corporate governance.

View Bang's profile

Raghavendra Rau

Sir evelyn de rothschild professor of finance, read more about raghavendra.

Raghu Rau researches empirical corporate finance; empirical behavioural finance.

View Raghavendra's profile

Pedro Saffi

Professor of financial economics, read more about pedro.

Pedro Saffi researches security lending markets; short selling; liquidity risk; and how differences of beliefs affect trading volume.

View Pedro's profile

Lucio Sarno

Read more about lucio.

Lucio Sarno researches empirical asset pricing; international finance, and especially foreign exchange markets; macro-finance; microstructure of financial markets.

View Lucio's profile

Finance faculty

Learn more about the faculty that teach on this pathway.

Learn more about the Finance subject group

Learn more about the application process and deadlines

Explore fees and funding options

Contact the admissions team

PhD in Finance

PhD in Finance at the ICMA Centre.

At a glance

• No. 17 in the UK for the impact of our research in Business and Management (Research Excellence Framework exercise 2021)
• 100% of the research environment is considered as ‘world-leading’ or ‘internationally excellent’ for research vitality and sustainability (Research Excellence Framework exercise 2021)
• Dedicated study area for all ICMA Centre postgraduate researchers
• Access to key databases and statistical software including WRDS, Thomson One, Bloomberg, TR Eikon, Datastream, SAS, Stata, Matlab, Python, Eventus

Deadline for Henley Business School Scholarship applications: 15th March 2024

Deadline for ICMA Centre Departmental Scholarship applications: 15th April 2024

We seek highly motivated individuals with an appropriate academic background (generally a Distinction at MSc level in a finance-related subject) from a good university. We encourage applied and relevant research and our strong connections with many financial firms allow students to gain industry experience during their doctoral research, if they wish.

Candidates interested in applying for a funded place should list the Henley Business School Scholarship in the funding section of their application. Successful candidates will receive research training, will be required to take relevant University courses on teaching and embed that learning by acting as teaching assistants.

List of topics

• Algorithmic Trading and Trade Execution Strategies
• Alternative Investments
• Asset Backed Securities
• Asset Pricing
• Behavioural Finance
• Climate Financial Risk
• Commodity Markets
• Corporate Finance and Governance
• Cryptocurrencies
• Emerging and Frontier Markets
• Empirical Asset Pricing with Liquidity and Uncertainty Premia
• Empirical Credit Risk
• Empirical Market Microstructure
• Financial / Economic History
• Financial Econometrics
• Financial Engineering
• Financial Regulation
• Financial Risk Management
• Gender in Finance
• Government Bond Issuing and Trading
• Green Finance / Climate Finance
• Green, Social and Sustainability Bonds
• High Frequency Econometrics
• Institutional Investors
• Investors Behaviour and Decision Making
• Liquidity Risk
• Loan Syndication
• Machine Leaning in Finance
• Macroeconomic and financial market uncertainty
• Macroeconomic forecasting and survey expectations
• Mergers & Acquisitions
• Money Markets
• Option Pricing
• Pension Schemes
• Portfolio Management and Performance Assessment
• Quantitative Finance
• Retail Investors
• Small and Medium Enterprises
• Socially Responsible Investing
• Sports Finance
• Stock Index Futures
• Textual Analysis
• The effect of information on financial markets
• Volatility and Correlation Modelling

Course structure Open

A PhD is usually taken on a full-time basis over three to four years. The programme starts in September at the beginning of the academic year. However, if necessary for your training, you may be required to come to the University earlier to attend some preparatory courses.

Year One : You will have to attend courses examined according to university rules. These courses include Research Methods and other courses required for your area of concentration;

Confirmation of Registration : During your second year, you will be required to defend your fully developed Research Proposal, consisting of a substantive document of around 10,000 words;

Year Two - Three : The remaining part of your PhD studies will be devoted to complete your thesis before your viva examination at the end of your three to four years (maximum amount of time allowed by university rules).

During your first year of studies, you will be required to:

• Attend at least 60 credits from PhD/Masters level courses in Research Methods and other relevant courses plus a no-credit bearing course (see below)
• Attend some short courses (two -three hours each) required for the Reading Researcher Development Programme at the Graduate School (overseeing PhD studies within the University of Reading)
• Attend the Preparing to Teach training programme (which is necessary to be able to complete any teaching-related activities within Henley Business School)
• Participate in weekly research seminars organised by your Department and others relevant to your area of interest
• Hold regular meetings with your supervisor(s)
• Contribute to Business School and Departmental teaching/research activities and events.

Confirmation of Registration

During your second year you will submit a substantive Research Proposal of around 10,000 words that will be defended in front of Faculty members and/or assessed by independent examiners. This process will coincide with your confirmation of registration and, if successful, it will grant you the status of PhD candidate.

The Research Proposal will be a significant development of the initial proposal you submitted for your application. It will include material you may have produced during the first year courses in research methods (e.g. literature review, methodologies, data description, etc.). If you plan to do a PhD thesis combining three papers, you are expected to include a draft of the first paper in your Research Proposal. Alternatively, if you intend to use a book-like structure for your thesis, the document should include the draft of at least one of the three/four key chapters.

Year Two & Three

During your second and third year you will:

• Continue to work on your PhD dissertation drafting the other two papers / key chapters
• Attend some short courses (two - three hours each) required for the Reading Researcher Development Programme at the Graduate School
• Contribute to Business School and Departmental teaching/research activities and events
• Present posters/papers at national/international conferences.

*The module or course content descriptions set out on this page are correct for those being taught in the current academic year. Modules or course content marked as optional are indicative and may be subject to change. Please note, constraints in timetable scheduling may mean you are unable to take some optional modules at the same time as others.

Entry requirements Open

The key requirements for a successful application are:

• Top grades in your Masters degree (minimum requirement is Merit or equivalent, but we prefer Distinction)
• Top grade in your Masters Dissertation (or equivalent research-based piece of work) because this may demonstrate your research attitude and skills
• identify the motivation of your study
• place it within relevant literature highlighting the current gap and potential research questions
• state your intended methodology show understanding of the data (if any) necessary to accomplish your study and relevant sources. This aspect will also reveal the feasibility of your study.
• A reasonable intended timeline reflecting issues you may encounter in the study as presented above (for example, if you have to collect primary data, the time spent on data collection will be much longer than the one you would spend if you intend to use secondary data sources).

English requirements

If English is not your first language, you may be required to take one of the following:

• TOEFL (Test of English as a foreign language): Overall score of 100 with no less than 20 in Listening, Writing and Reading and 21 in Speaking
• IELTS (British Council International English Language Test): Score of 6.5 overall with no component less than 6 when attending the six-week pre-sessional English course offered by the University of Reading. Entry to this pre-sessional course with a score of 6.5 fulfils your English language requirement.

Please note that students not attending a Pre-Sessional course will need to pass IELTS with an overall score of 7 and no component less than 6.0. For more options please see the International Study and Language Website or email a member of the Postgraduate Admissions team.

How to apply Open

The application process normally consists of three main steps :

• Before applying formally you may want to contact a potential supervisor who is working in your area and could be interested in your topic
• Please avoid contacting multiple faculty members simultaneously. We do talk to each other and this is not seen as a professional practice.
• An evaluation of your suitability for the programme based on the documents you uploaded in your application.
• If you meet the entry requirements and we can match you with a supervisor you will be formally interviewed to assess your suitability to pursue a PhD at the ICMA Centre.

The deadline for applications to be considered is the 30th April 2023

You should upload the following items to your online application:

• your curriculum vitae
• research proposal
• copies of relevant academic transcripts.

Fees & funding Open

For fees, please visit the Graduate School website .

Overseas applicants should refer to the non-laboratory based fees listed in the tables (International Band 1 for non UK/Home students).

Scholarships

ICMA Centre funded places for 2024 entry are now available to apply for. Candidates interested in applying should list the Henley Business School Scholarship in the funding section of their application.

Further PhD funding

• Nationals from India and developing countries : The Felix Scholarship competition is open to candidates applying for either taught Masters or Postgraduate Research Degrees who are either Indian nationals, or from developing countries, and who fulfil the required criteria. For more information and how to apply please follow the link
• Regional PhD Bursaries : They are available for PhD applicants normally living within 25 miles of the University. The scheme is not open to students who have already started their study at the University of Reading. For further information, please go to Graduate School website
• Former UoR Graduate : If you have already studied at the University of Reading you will get up to £1,500 off programme fees through the alumni fee discount
• Other : For information on further opportunities, please see the find funding section on our University website.

Current scholarships

Icma centre departmental scholarships, henley business school scholarships, regional phd bursaries, former university of reading graduate, careers, accreditation & progression open.

Recent PhD graduates have secured academic positions at UK Universities such as Oxford, Manchester, Kings College London, Cardiff, Bath, Sussex, Surrey and East Anglia. Academic roles have also extended to international universities such as ESCP Europe, Hamburg, University College Dublin and Goethe University of Frankfurt.

PhD graduates have taken industry positions at employers such as Allianz, Barclays, Credit Suisse, Deloitte, Deutsche Bank, London Business Bank, NAFMII, Oxford Risk and Sociovestix Labs.

How can Henley Careers work with you?

We have an award winning careers team to support you through your time here and four years after graduating from us.

Henley Careers run numerous events throughout the autumn and spring terms to help you gain industry experience, enhance your professional development and network with employers. We also offer one-to-one career coaching appointments where you can talk to a Careers Consultant about anything related to your professional development – whether it’s planning your ideal career journey, building confidence in a particular area, practicing for interviews or having your CV checked.

For more information please see our Careers page.

Why Choose ICMA Centre? Open

The ICMA Centre is among the pioneers in finance education and renowned for its strong links with the financial services industry. The Centre was ranked number 7 in the UK for its Masters in Finance programme in 2023 ( Financial Times Masters in Finance Ranking ). It is also part of Henley Business School – among an elite group of 75 business schools in the world to hold triple-accredited status from the leading UK, European and US accrediting bodies: AMBA, EQUIS and AACSB.

The Centre’s unique practice centred approach includes a number of finance education innovations. These will provide you with a solid grounding for a career in the industry. The approach aims to equip you with a skill set that sets you apart from graduates of other finance programmes. Your employability track record is also bolstered by an in-house comprehensive career development programme.

Reading has proximity to the world’s top financial centre (25 minutes from London Paddington). Several leading professional bodies including the CFA, CISI, GARP and ICS validate our programmes and offer exam exemptions to our students.

Joining one of the top schools of finance in Europe, you will benefit from state-of-the-art facilities . You will have access to the latest technology and will be taught by world-renowned faculty and industry experts. Our innovative teaching and learning environment includes trading and financial analysis simulations. We also have the latest financial data and programming software. Our three dealing rooms are one of the largest facilities of its kind in the world. They provide an ideal setting for understanding how businesses and markets function in practice. Our students’ learning experience is a top priority for academic faculty and administrative staff at the ICMA Centre. This is reflected in the latest student satisfaction rates in the PTES and NSS student surveys.

If you have any questions about admissions, please don't hesitate to contact us.

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Finance and Technology MPhil/PhD

London, Stratford (UCL East)

In a rapidly evolving world, new technologies present both challenges and opportunities that require innovative solutions. The Institute of Finance & Technology (IFT) is dedicated to meeting these challenges and harnessing the power of finance in addressing pressing societal issues and is committed to shaping the future of finance through cutting-edge research and education. Our PhD programme is designed to empower the next generation of academics to develop novel financial models that seamlessly integrate technical, environmental, and social dimensions into financial mechanisms. At IFT, we nurture visionaries who will lead the way in transforming finance for the betterment of society.

UK tuition fees (2024/25)

Overseas tuition fees (2024/25), programme starts, applications accepted.

Applications open

• Entry requirements

A minimum of an upper second-class Bachelor’s degree from a UK university in a subject appropriate to the chosen field, or an overseas qualification of an equivalent standard.

The English language level for this programme is: Level 1

UCL Pre-Master's and Pre-sessional English courses are for international students who are aiming to study for a postgraduate degree at UCL. The courses will develop your academic English and academic skills required to succeed at postgraduate level.

Further information can be found on our English language requirements page.

Equivalent qualifications

Country-specific information, including details of when UCL representatives are visiting your part of the world, can be obtained from the International Students website .

International applicants can find out the equivalent qualification for their country by selecting from the list below. Please note that the equivalency will correspond to the broad UK degree classification stated on this page (e.g. upper second-class). Where a specific overall percentage is required in the UK qualification, the international equivalency will be higher than that stated below. Please contact Graduate Admissions should you require further advice.

About this degree

The Institute of Finance & Technology (IFT) stands at the forefront of addressing the evolving landscape of finance in the 21st century. In an era characterised by the convergence of finance and technology, we recognise the need for innovative approaches and interdisciplinary analyses to harness the potential of this transformation.

Our vision is to reposition finance as a potent tool in addressing pressing societal challenges. We achieve this by cultivating the next generation of academic leaders through our cutting-edge PhD programme. This programme is not just about finance; it's about pioneering new financial models that integrate technical, environmental, and social dimensions into financial mechanisms, equipping our scholars with the skills and knowledge needed to reshape the financial industry.

The global financial sector is undergoing a profound revolution driven by disruptive innovations and rapid technological advancements. As the finance landscape continues to evolve at breakneck speed, it's imperative that academic institutions adapt and align their programmes with these dynamic changes. IFT has emerged as a beacon of excellence in this regard.

Our commitment to staying at the forefront of financial innovation led us to collaborate closely with industry and government professionals from renowned institutions. These partnerships have played a pivotal role in shaping our programmes, ensuring that our students not only keep pace with the financial industry's advancements but also become pioneers who set new standards.

At IFT, our educational philosophy transcends traditional classroom learning. We believe in the integration of practical experiences, research endeavours, and industrial insights to foster the development of students' commercial competencies. Our programmes are carefully crafted to offer a holistic educational experience that equips students with the skills to navigate complex financial environments, develop innovative solutions, and make a positive impact on society.

With a focus on cutting-edge technologies and interdisciplinary collaboration, the UCL Institute of Finance & Technology is the ideal destination for those who aspire to shape the future of finance and address the world's most pressing challenges through innovative financial models and approaches. Join us on this transformative journey in finance and technology.

Who this course is for

Before registering for this MPhil/PhD programme, you must initially have successfully a minimum of an upper second-class Bachelor’s degree from a UK university in a subject appropriate to the chosen field, or an overseas qualification of an equivalent standard.

What this course will give you

At the Institute of Finance & Technology (IFT), our degree programmes offer a wealth of benefits that prepare students for a dynamic and ever-changing future. Our visionary approach to finance focuses on addressing significant societal challenges through the development of cutting-edge financial models that incorporate technical, environmental, and social considerations. 

Throughout the academic year, we facilitate numerous social events to foster a sense of community among our students. Additionally, our upcoming Agora financial research seminar series promises to provide valuable insights and networking opportunities. In the third term, we host a special event where all PhD students showcase their research and development, creating a platform for intellectual exchange and growth.

At IFT, students will have the opportunity to learn from a distinguished staff comprising industry professionals and leading academics from UCL. These experts are actively engaged in innovative research, ensuring that our students receive a well-rounded education that combines theoretical knowledge with real-world insights. 

Graduates of our programmes are uniquely positioned to serve a wide array of institutions, from universal banks and mutual funds to investment banks, governments, central banks, and advisory organisations. Regardless of your prior experience or background, an IFT degree equips you with the tools and knowledge to excel in your chosen field.

In addition to the exceptional academic resources at IFT, students benefit from a comprehensive Doctoral Skills Development Programme and our affiliation with the Bloomsbury Postgraduate Skills Network. These programmes are designed to enrich your research and transferable skills, enhancing your capacity to excel in your research endeavours, advance professionally, and improve your employability. At IFT, we're dedicated to not only providing top-notch education but also fostering personal and professional growth that will enable you to make a meaningful impact in the world of finance and technology.

The foundation of your career

Upon completing our programme, graduates unlock a multitude of promising pathways. They seamlessly integrate into the workforce, finding placements in esteemed finance and technology giants.

With a comprehensive skill set and in-depth knowledge, graduates are poised to excel across various sectors, spearheading projects, influencing decisions, and contributing to the advancement of the finance and technology landscape. This degree not only opens doors to an array of prestigious employment opportunities but also sets a well-defined trajectory for a fulfilling and impactful career.

The core skill set you would obtain during your MPhil/PhD varies depending on your specific research project but the department provides a wide range of opportunities so that you are not limited to what your research projects offers.

Employability

Each of our students will be prepared for the future by learning from industry professors, as well as leading UCL academics active in innovative research. Our programmes produce graduates that will serve the needs of universal banks, mutual and pension funds, investment banks, governments, central banks and advisory organisations. Whatever your experience or background, you will leave UCL equipped with the tools to become a high achiever in your chosen field.

There are many training opportunities available via the Doctoral Skills Development Programme and UCL is part of the Bloomsbury Postgraduate Skills Network. The purpose of the programme is to give you the opportunity to expand your research and transferable skills in order to support your research, professional development and employability.

UCL Careers   is a one-stop-shop where you can find jobs, sign up for Careers alerts and register for new opportunities and events. You can also  contact the UCL Careers Office here  to get tailored advice in a one-to-one guidance session. Help with job application processes and guidance on how to build a portfolio of experience is also offered, enabling you to better access opportunities in your chosen field.

UCL offers an enriching environment for networking and professional growth. Engage with peers, industry experts, and faculty members who share your passion for excellence. Through collaborative group projects, seminars, workshops, and industry partnerships, you'll forge connections that extend beyond the classroom. 

These networking opportunities provide insights into real-world challenges, offer chances to learn from industry leaders, and pave the way for potential internships and job placements. Your interactions within this vibrant community will not only enrich your learning experience but also establish a valuable network that can shape your future in the finance and technology arena.

Many academics in our institute are working with industry partners. Applicants can ask about potential inputs from, or collaboration with, industry partners when they approach potential supervisors.

Teaching and learning

Throughout the programme, a diverse range of teaching and learning strategies foster comprehensive skill development and intellectual growth and imbue graduates with the prowess to thrive in research, industry, and various professional domains.

The programme employs a diverse range of assessment methods to ensure a comprehensive evaluation of students' capabilities, understanding, and comprehension across various dimensions, fostering a well-rounded learning experience.

MPhil upgrade viva. Final PhD viva.

Students can expect a well-balanced division of their time between various learning activities such as tutorials, lectures, seminars, practical sessions, and personal guidance.

The majority of the student's time, the remaining portion, is dedicated to independent study, allowing for in-depth exploration and self-directed learning. This balanced approach to time allocation ensures that students have ample opportunities for collaborative learning, direct instruction, and autonomous exploration, fostering a comprehensive and well-rounded educational experience.

Research areas and structure

Research environment.

We have a very inclusive and collaborative research environment. Our aim is to foster a very interdisciplinary approach and curiosity in research, and to explore different disciplines and challenging paradigms.

Humbleness and willingness to learn from each other is another feature of the group. We try to go to conferences in teams of three/four in order to support each other and to have a greater critical mass in terms of networking and contribution.

We have several social events during the year, including our financial research seminar series. In term 3 we also hold an event where all PhD students present their research and development.

Depending on the terms of any funding arrangements, upon successful completion of your approved period of registration you may be able to register as a completing research student (CRS) while you write up your thesis.

Within three months of joining the programme, you are expected to agree with your supervisor the basic structure of your research project, an appropriate research methodology and a realistic plan of work. You will produce and submit a detailed outline of your proposed research to your supervisor for their comments and feedback.

During your registration, you will be able to participate in conferences and research showcase events, which provide you with an opportunity to present your research findings before an audience of academics, industry and your fellow doctoral students. In the second year or part-time equivalent, you will be expected to complete the process of upgrading from MPhil to PhD status.

To progress, you are required to submit a short upgrade report, which must be presented and successfully defended in an upgrade viva. In your final year, you will submit your thesis and defend it to a panel in a viva exam.

Within three months of joining the programme, you are expected to agree with your supervisor the basic structure of your research project, an appropriate research methodology and a realistic plan of work. You will produce and submit a detailed outline of your proposed research to your supervisor for their comments and feedback. During your registration, you will be able to participate in conferences and research showcase events, which provide you with an opportunity to present your research findings before an audience of academics, industry and your fellow doctoral students.  

In the second year or part-time equivalent, you will be expected to complete the upgrade progression process. To progress, you are required to submit a short upgrade report, which must be presented and successfully defended in an upgrade viva. In your final year, you will submit your thesis and defend it to a panel in a viva exam.

Accessibility

Details of the accessibility of UCL buildings can be obtained from AccessAble accessable.co.uk . Further information can also be obtained from the UCL Student Support and Wellbeing team .

Fees and funding

Fees for this course.

The tuition fees shown are for the year indicated above. Fees for subsequent years may increase or otherwise vary. Where the programme is offered on a flexible/modular basis, fees are charged pro-rata to the appropriate full-time Master's fee taken in an academic session. Further information on fee status, fee increases and the fee schedule can be viewed on the UCL Students website: ucl.ac.uk/students/fees .

Additional costs

Some projects may require additional costs. These will be clearly advertised and/or confirmed through discussions with prospective supervisors at the point of any offer being made.

For more information on additional costs for prospective students please go to our estimated cost of essential expenditure at Accommodation and living costs .

Funding your studies

For a comprehensive list of the funding opportunities available at UCL, including funding relevant to your nationality, please visit the Scholarships and Funding website .

CSC-UCL Joint Research Scholarship

Value: Fees, maintenance and travel (Duration of programme) Criteria Based on academic merit Eligibility: EU, Overseas

You are encouraged to identify and contact potential supervisors before submitting a formal application. It is important that you find a supervisor who shares the same research interest and expectations and is available to take a new student. Supervisors in our institute welcome emails enquiring about your potential MPhil/PhD study.

Please note that you may submit applications for a maximum of two graduate programmes (or one application for the Law LLM) in any application cycle.

Choose your programme

Please read the Application Guidance before proceeding with your application.

Year of entry: 2024-2025

Got questions get in touch.

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[email protected]

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DPhil Finance

Start date:

• 7 October 2024

Time commitment:

About the programme

Our doctoral training will immerse you in all aspects of academic life.

You will be both a student and a junior research colleague. We provide courses in a wide variety of research methods and you will work closely with your supervisors to define your research question and develop your thesis. You will also have opportunities to gain teaching and research assistant experience and become involved with the intellectual community within both Saïd Business School and the wider University. You will attend academic conferences, make presentations, organise lectures and seminars and contribute to management and academic decisions. Both of our doctoral programmes run in parallel, with only differences in taught courses and preparation for writing in relevant journals to your subject of choice. We have deliberately kept the programmes small which means that in the vast majority of cases, students are fully funded to allow them to devote their energies to research. The DPhil corresponds to a PhD degree offered at most other universities. Examples of previous research topics include asset-pricing and corporate finance, the design and regulation of securities markets, corporate financial policy, and the impact of financial markets on real economic activity.

Supervision

You will be assigned two initial supervisors who will guide you through your first year.

They will help you to identify your specialist area of interest and further suitable advisers in that field. You will work closely with them to define your research question and develop your thesis. It is an important relationship and also a very personal one: it is shaped by you, your supervisors and the ways you interact. You will have a minimum of nine meetings, or equivalent per year with your supervisor.

You do not need to contact any faculty in advance of making your application but you can review the  profiles of our faculty  to look for at the areas of research covered at the School. You can note within your application if you feel that you are interested in a particular research area and working with a specific faculty member. 

The allocation of a supervisor is the responsibility of Saïd Business School, it is not always possible to accommodate the preferences of incoming graduate students to work with a particular member of staff. Under exceptional circumstances a supervisor may be found outside the School.

Review some current research taking place around the school as well as from some of our alumni.

Review articles and podcasts written by our researchers at  Oxford Answers . 

Learn more about  becoming a researcher  from Andromachi Athanasopoulou, who graduated in 2007 and is now an Associate Professor in Organisational Behaviour at Queen Mary University London and an Associate Fellow at Oxford Saïd.

View Professor Renée Adams' discussion on  Women on boards: The superheroes of tomorrow?  

View Dr Amir Amel-Zadeh discussion on  (Mis-)information in financial markets .

Assessment and programme milestones

Our DPhil offers students the opportunity to engage with internationally renowned faculty who are here to help you become an academic scholar.

You will be initially admitted to the status of Probationer Research Student (PRS). During your first year, you will be required to attend taught causes where foundational economic and financial theory will be studied. Based on previous years, these may include, but are not limited to courses that cover topics such as:

• Asset pricing
• Corporate finance
• Financial econometrics

During second and third terms, you will select four elective courses offered for the second year of the MPhil in Economics, one of which must be either Financial Economics I or Financial Economics II. Following successful completion of all necessary courses and within a maximum of six terms as a PRS student (and normally by the fourth term) you will be expected to apply for transfer of status from Probationer Research Student to DPhil status. A successful transfer of status is required to give a clear indication of whether it would be reasonable to consider submission within the course of a further three terms, if work on the thesis continues to develop satisfactorily. Students who are successful at transfer will also be expected to apply for and gain confirmation of DPhil status within nine terms of admission, to show that your work continues to be on track. Both milestones normally involve an interview with two assessors (other than your supervisor). This provides important experience for the final oral examination. You will be expected to submit a thesis, which provides a significant and substantial contribution to the field of learning in finance, which should not exceed 100,000 words after four years from the date of admission. It should be good enough to be published in book form or as a series of academic articles. To be successfully awarded a DPhil in Finance you will need to defend your thesis orally (viva voce) in front of two appointed examiners.

Changes to this course and your supervision

We seek to deliver this course in accordance with this description. However, there may be situations in which it is desirable or necessary for the us to make changes in course provision, either before or after registration. The safety of students, staff and visitors is paramount and major changes to delivery or services may have to be made in circumstances of a pandemic, epidemic or local health emergency. Also in certain circumstances, for example due to visa difficulties or because the health needs of students cannot be met, it may be necessary to make adjustments to course requirements for international study.

Where possible your academic supervisor will not change for the duration of your course. However, it may be necessary to assign a new academic supervisor during the course of study or before registration for reasons which might include illness, sabbatical leave, parental leave or change in employment.

For further information please see our pages on changes to courses and the provisions of the student contract regarding changes to courses.

I think the most important issues in the supervisor relationship are communication and trust. You need a supervisor who can tell you the things you need to hear even if you don’t want to hear them, and who can nudge you back on to the right track. Alexander Montag Current DPhil in Finance student

Benefits and opportunities

• Engage with internationally renowned faculty
• Conference and research funding
• Training in principal research methods at both at Saïd Business School and wider University.

Opportunities

• Paid teaching and research assistant opportunities
• Contribute to management and academic programme decisions through student representation on committees
• Postgraduate careers resources

You will become a member of an Oxford college. Your college is both an academic and social community that will enrich your time at Oxford. It offers everything from formal dinners and balls to sports and lecture series.

The Oxford college system enables you to interact with students and faculty from other disciplines. Some colleges provide accommodation for students. 

Who can apply

Our candidates are passionately intellectual people who have a superlative academic record and are committed to a career in academia.

DPhil in Finance

You will require:

• a good undergraduate degree: 2.1 (GPA 3.5 or its equivalent)
• GMAT or GRE test results
• TOEFL or IELTS test results (If you are not from an English speaking majority country)
• three pieces of written work, including a well-developed research proposal
• three academic references

Application process

Applications are now closed for October 2024 entry.

The deadline for applying was 13 December 2023 at 23:59 GMT. 

Complete applications received by the deadline will be considered. You will be informed by late January if you have been shortlisted for interview.

Final decisions will be communicated by the end of February.

There are nine shared places available for the DPhil Finance and DPhil Management. The average number of applications for entry between 2021 and 2023 was 70. 

Fees and funding

The course fee in 2024-25 is £23,580 for both home and overseas students.

The programme is four years in duration. Course fees are payable each year, for the duration of your fee liability (your fee liability is the length of time for which you are required to pay course fees). Please be aware that fees will usually increase annually. For details, please see our guidance on changes to fees and charges .

Course fees cover your teaching as well as other academic services and facilities provided to support your studies. Course fees do not cover your accommodation, residential costs or other living costs. 

Following the period of fee liability , you may also be required to pay a University continuation charge and a college continuation charge. The University and college continuation charges are shown on the Continuation charges page.

Additional cost information

There are no compulsory elements of this course that entail additional costs beyond fees (or, after fee liability ends, continuation charges) and living costs. However, depending on your choice of research topic and the research required to complete it, you may incur additional expenses, such as travel expenses, research expenses, and field trips. You will need to meet these additional costs, although you may be able to apply for small grants from your department and/or college to help you cover some of the expenses.

Scholarships and funding

Doctoral students admitted to our programme receive full funding over four years. This includes course fees and an annual living expenses stipend. To maximise the overall availability of funding for candidates, we will identify suitable alternative scholarships and may ask you to submit funding applications. We also ask that you identify and pursue any other funding opportunities, including external funding.   

For some scholarships you are required to submit a scholarship essay and/or tick the relevant box in the Funding section of the application form.

Cost of living

In addition to your course fees, you will need to ensure that you have adequate funds to support your living costs for the duration of your course. Please view the University's  living expenses page for information about likely living costs for 2024-25.

Further information about fees

The Fees and Funding section of The University of Oxford's website provides further information about course fees , including information about fee status and eligibility  and your length of fee liability .

Alumni placements

• University of Michigan Ross School of Business – Assistant Professor of Finance
• Vanderbilt University – Assistant Professor of Finance
• Ivey Business School - Assistant Professor in Finance
• University of Warwick - Assistant Professor of Entrepreneurship and Innovation
• International Monetary Fund - Economist (Economist Program), Research Department
• Harvard Business School - Post-Doctoral Fellow
• University of Hong Kong - Assistant Professor of Finance
• Vrije Universiteit Amsterdam and Tinbergen Institute - Assistant Professor of Finance
• Federal Reserve Bank of Cleveland – Research Economist
• Indiana University – Assistant Professor of Finance
• City University of Hong Kong - Assistant Professor
• Please contact us if you have any queries.
• [email protected]

Choose start date: Start date: September 2024 Duration: Five to six years Deadline: Applications are now closed Fee: Fully funded Location: London, UK Admissions Funding and scholarships

A fully-funded PhD for aspiring scholars seeking an academic career 

We believe that rigorous academic analysis can provide practical solutions to complex problems in society. Our fully-funded PhD programme provides students with the opportunity to conduct their own research in a world-leading university, finding solutions to key challenges in modern business. As a Business School, we rank first in the UK for research environment and second for management and business students, while Imperial College London ranks first in the UK overall for research (REF 2021). 

Starting with a one or two-year Master’s in Research (MRes), depending on your chosen research area, you will gain a strong theoretical grounding and thorough research training to prepare you for the PhD. As a doctoral student you will have the benefit of supervision from leading world scholars. You will develop the expertise and research skills necessary to pursue a career in academia with previous Imperial doctoral graduates finding success in other leading universities such as Copenhagen Business School, Tsinghua University, University of Amsterdam, University College London, and The Wharton School of the University of Pennsylvania.

97% world-leading or internationally excellent research (REF 2021) #1 in the UK for research (Imperial College London, REF 2021) 1% top one per cent of business schools worldwide to have achieved triple accreditation 6 research areas Explore the programme

Advance your academic success at a world class research institution

3rd in Europe (Imperial College London, Times Higher Education World University Rankings 2024)

6th in the world (Imperial College London, QS World University Rankings 2024)

#1 city for students (London, QS Best Student City Rankings 2024)

Build your career with our global reputation

With particular expertise in finance, entrepreneurship, health, and sustainable business, the Business School is recognised as leading the field. Benefit from strong industry partnerships and a diverse alumni network. 

A fully-funded programme

Every student on our Doctoral programme is offered full funding, including a full tuition fee waiver (Home/EU or Overseas fees) plus a living stipend for up to five years. Funding for a 6th year can be considered on a case-by-case basis, with the potential to undertake a teaching or research assistant studentship with one of the Business Schools research centres.  

World-class faculty

Our internationally admired faculty are leaders in their respective fields, bringing a wealth of experience and academic distinction. They are deeply invested in developing the research interests of our PhD students, fostering an environment of intellectual growth and innovation. 

Impact on industry

Working closely with businesses and governments, we drive policy and practice through inspiring collaboration and research excellence, giving you the opportunity to observe the impact of research on business and society. 

Inspiring intellectual community

Engage with a diverse cohort of fellow PhD students and researchers, creating an inspiring and collaborative environment that encourages intellectual development and professional connections. 

Programme content

The Business School Master’s in Research (MRes) is an integral part of the PhD, introducing theory and research methods in Finance, Economics and Management, providing you with a solid foundation for your doctoral studies. Depending on the research area you choose to specialise in, you will embark on a one or two-year MRes programme as shown below. 

*Please note programme content is subject to change. The modules mentioned below are just a sample of what is available in the programme.

Data Analysis Tools

This course provides students with a basic foundation in mathematics and statistics required to undertake further quantitative research methods courses. This course consists of two parts, statistics and mathematics. Topics covered include: matrix algebra; optimization; differential equations; random variables and probability distributions; moments of a random variable; probability distributions; joint, marginal and conditional distributions; functions and transformation of a random variable; hypothesis testing; univariate regression.

Systematic Reviews

When starting new research, the first step is usually a literature review: scanning what is already known about a given topic and figuring out where the gaps are. However, novice researchers tend to be anything but systematic in their literature review: they have no method for scanning the literature, and they usually have little idea of what is relevant and what is not. The Systematic Review method opens a way to create research syntheses that add real value and novel insight – in a way that is potentially publishable in its own right.

Specialist Modules

Optimisation

Stochastic Processes - This module introduces you to basic tools for modelling stochastic phenomena. The focus of the module is the theory of stochastic processes, but applications will be drawn from operations research, analytics / ML, and finance to illustrate the usage of the models for studying real-world business problems

Machine Learning for Analytics - This module gives you an overview of machine learning methods for analytics. Applications in the module will be drawn from various sources including medical applications (e.g. patient discharge from hospitals), recommender systems and the Netflix prize, advertising and marketing, estimating scofflaw rates, reputations systems and Google's PageRank algorithm, filtering, text mining, sports analytics etc.

Decision Making Under Uncertainty - This module gives you an overview of different paradigms of decision making in dynamic uncertain environments, including dynamic programming, stochastic optimisation and robust optimisation. Along with theory, applications in operations management and analytics will be introduced, with the aim of preparing you for research in these areas.

Industrial Organisation

Sustainable Behaviour - This module aims to provide you with an in-depth exposure to the emerging academic field of sustainable behaviour. You will be presented with the main methodological tool used in behavioural research (lab and field experiments) as well with the multiple articles and journals which have published cutting-edge experimental research on sustainable behaviour across a wide variety of contexts.

Consumer Behaviour - This module aims to give you a robust foundation in consumer behaviour and how it relates to marketing. The module covers topics such as how consumers process marketing communications, how consumer involvement affects decision making, and how external factors impact consumer behaviour.

Microeconomics 1

Microeconomics 2

Research methods modules

Applied Microeconometrics

Applied Microeconometrics 2

Econometrics 1

Econometrics 2

Qualitative Methods 1

Qualitative Methods 2

Quantitative Methods 2

Other elective modules

You can choose from a range of elective modules relevant to your pathway.

Asset Pricing Theory 

Corporate Finance

Consumer Behaviour

Empirical Asset Pricing

Entrepreneurship 

Financial Economics of Climate Sustainability

Machine Learning for Analytics

Machine Learning for Economic Analysis

Macroeconomics

Macro-Finance

Micro Development Economics

Organisational Behaviour

Organisation Theory 

Topics in Empirical Banking 

Topics in Environmental Resource Economics 

Topics in Health Economics

Topics in Household Finance 

Business Models and Intellectual Property*

Contemporary Topics in Health Policy*

Digital Marketing Analytics*

Healthcare and Medical Analytics*

Logistics and Supply Chain Analytics*

Optimisation and Decision Models*

Retail and Marketing Analysis*

Workforce Analytics*

*These modules are available subject to capacity and timetabling constraints in other faculties and are differently weighted to the MRes Business electives

Year one compulsory modules for Economics and Public Policy pathway

Applied Microeconometrics I  - This module will provide an introduction to the practice of applied microeconometrics. Students will learn the standard empirical methods in current use by applied researchers and be exposed to a handful of frontier approaches. The focus will be on implementation beyond simply estimating a parameter of interest: getting the standard errors right, validation and conducting appropriate robustness exercises, and adapting methods to fit new contexts.

Applied Microeconometrics II  - This module will be an introduction to some of the most important themes for students wishing to conduct their own research in Empirical Corporate Finance. For other students, this module will help students gain a better understanding of research related to your own field. Topics covered include: regression refresher, causality and randomized experiments, instrumental variables, difference-in-difference, regression discontinuity, standard errors, event studies, discrete response models, matching methods, and non-parametric methods

Econometrics I  - The module has the objective to provide the students with econometric tools necessary to conduct their empirical research and discuss fundamentals of econometric theory behind them. Students will learn how to conduct - and how to critique - empirical studies in finance, economics and related fields.

Macroeconomics  - This course covers research issues that arise in the intersection of macroeconomics and finance. Topics include portfolio choice, general equilibrium models with heterogeneous agents and dynamic asset pricing models.

Microeconomics I  - The module covers the main tools of microeconomic theory and focuses on preferences, consumer theory, choice under uncertainty, producer theory, and game theory. Time permitting, it introduces general equilibrium in competitive markets. The emphasis is on economic intuition as well as techniques. The fundamental concepts of microeconomic theory are discussed.

Microeconomics II  -   This module covers competitive equilibrium, markets with imperfect, competition and asymmetric information, general equilibrium, Social choice and mechanism design

Research Experience  – This module is intended to give students practical experience of research preparation for their dissertation the following year.  They will undertake research tasks under the supervision of a faculty member on a topic chosen by the faculty member.  Students can select those projects that fit their research interests.

Year one compulsory modules for Finance pathway

Empirical Corporate Finance  - This module will provide an introduction to the practice of applied microeconometrics. Students will learn the standard empirical methods in current use by applied researchers and be exposed to a handful of frontier approaches. The focus will be on implementation beyond simply estimating a parameter of interest: getting the standard errors right, validation and conducting appropriate robustness exercises, and adapting methods to fit new contexts.

Econometrics II    - This module will be an introduction to some of the most important themes for students wishing to conduct their own research in Empirical Corporate Finance. For other students, this module will help students gain a better understanding of research related to your own field. Topics covered include: regression refresher, causality and randomized experiments, instrumental variables, difference-in-difference, regression discontinuity, standard errors, event studies, discrete response models, matching methods, and non-parametric methods. 

Econometrics I  - The module has the objective to provide the students with econometric tools necessary to conduct their empirical research and discuss fundamentals of econometric theory behind them. Students will learn how to conduct - and how to critique - empirical studies in finance, economics and related fields.

Microeconomics I  - The module covers the main tools of microeconomic theory and focuses on preferences, consumer theory, choice under uncertainty, producer theory, and game theory. Time permitting, it introduces general equilibrium in competitive markets. The emphasis is on economic intuition as well as techniques. The fundamental concepts of microeconomic theory are discussed.

Corporate Finance  - This module is taught in two parts, starting with a historical background, and then considering the theory of investment decisions, capital structure, financial innovation, and corporate governance.

Asset Pricing Theory  - The first part of this module deals with representative investors, portfolio choice and dynamic securities markets in discrete time before covering portfolio choice in continuous time and option pricing. The second part starts from the asset pricing implications of a general equilibrium Lucas-tree economy. Then, it discusses the main asset pricing puzzles implied by these economies. Finally, we will explore optimal portfolio choice, multiple trees economies and some of the latest attempts in the asset pricing literature to solve some of these puzzles.

Empirical Asset Pricing  -   The module is intended for students with a prior knowledge of asset pricing theory, capital markets and econometrics, and will concentrate on discrete-time methods and use a variety of econometric techniques. The module will cover these econometric tools in order to empirically address meaningful economic questions.

Research Experience  - This module is intended to give students practical experience of research preparation for their dissertation the following year.  They will undertake research tasks under the supervision of a faculty member on a topic chosen by the faculty member.  Students can select those projects that fit their research interests.

Year one compulsory modules for Innovation and Entrepreneurship pathway

Introduction to the Practice of Research  - This module will introduce you to the craft of research. You will develop the skills and knowledge you need to effectively produce research questions and hypotheses, ensuring consistency between theory, research design, methods and measures, and developing a clear and compelling argument.

Qualitative Methods I  - This module covers research methods required in qualitative research. You will develop skills in all aspects of the research process, including research design, data collection, data analysis, theory building, writing up as well as reviewing papers and responding to referees. The module is essential for those who wish to author qualitative research but will also be useful for quantitative researchers.

Quantitative Methods I  - This module provides an overview of the primary quantitative methods employed in management research. It will enable you to develop the ability to interpret the results of your own research as well as to critically assess the findings presented in other studies. The emphasis will be on the practical application of different estimation models using STATA rather than on the econometrics and mathematical specification.

Organisational Behaviour  - In this module you will be introduced to a selection of most seminal papers in organisational behaviour with a particular focus on classic and contemporary theories, ongoing controversies, and ground-breaking empirical studies. The emphasis is on providing a foundational overview of the field.

Organisational Theory  - This module will expose you to the major theoretical perspectives and issues studied in organisation theory research. You will also be exposed to a set of approaches to understanding how and why organisations form, survive and grow.

Strategy  - In this module you will develop the fundamentals of strategy including the theories of competitive advantage, industry analysis, understanding of resource based view/knowledge based view, and corporate strategy.

Innovation Management  - This module will offer a thorough theoretical understanding of the key themes of innovation research, combined with practical insights into the challenges of innovation management in organisations. You will address topics ranging from technological change, creativity, the role of networks in innovation, and appropriability/value capture from innovation.

Entrepreneurship  - This module introduces students to the major theoretical threads and debates in the field of entrepreneurship. Students will learn to make connections between theory and empirical research, practice critiquing and identifying insight in research, engage with fundamental debates in the field and formulate directions how the field may be further advanced.

Year one compulsory modules for Strategy and Organisational Behaviour pathway

Elective modules for economics and public policy pathway.

Asset Pricing Theory

Decision Making Under Certainty

Econometrics I

Econometrics II 

Financial Economics of Climate and Sustainability

Machine Learning for Economics Analysis

Macroeconomics 

Microeconomics I

Microeconomics II 

Sustainable Behaviour

Topics in Empirical Banking

Topics in Environmental Resource Economics

Topics in Household Finance

Elective modules for Finance pathway

Advanced Financial Statistics

Asset Allocation and Investment Strategies

Big Data in Finance I

Big Data in Finance II

Decision Making Under Uncertainty

Econometrics II

Financial Economics for Climate Sustainability

Microeconomics II

Elective modules for Innovation and Entrepreneurship pathway

Advanced Topics in Organisational Behaviour

Corporate Sustainability

Interdisciplinary Research

Qualitative Methods II

Readings in Digital Business

Readings in Social Networks/Social Capital

Social Network Analysis

Social Data Science

Special Topics in Organisational Theory/Strategy

Elective modules for Strategy and Organisational behaviour pathway

Advanced Topics in Organisational Behaviour 

Social Network Analysis 

Research Project

During the second year, students work on their MRes project which is formally assessed and counts towards the overall MRes mark. Students are expected to approach potential supervisors from within the department’s academic staff. Students submit their proposed research project title and a brief outline by the end of September of Year two. Students submit a Progress Report in February, outlining their progress to date with the thesis. During the Summer Term, students will submit their MRes dissertation. This will be followed by an oral exam

Research plan 

When you progress from the MRes to the PhD, you will work with your supervisors, chosen based on your research interests. Your supervisors will help you develop your research question, identify research and teaching opportunities and support you through your studies and the academic job application process.  

Seminars and conferences

Being part of the School’s inspirational research community is a crucial aspect of the doctoral experience – as is gaining familiarity with cutting edge research from world-leading academics. Each department runs seminars where internal and external academics discuss their latest work.  

As well as providing insight into yet-to-be-published research, the seminars offer networking opportunities and visiting academics often lead special topic workshops for research students. The Doctoral programme also supports the participation of research students in international conferences where you can present your own research and participate in doctoral consortia. 

Early Stage Assessment 

The Early Stage Assessment (ESA) takes place in the summer of year one of the PhD and is assessed by a panel of faculty. The ESA outlines the research question, the work you have done to date and the future research activities to be carried out to complete the project. 

It consists of a written report and presentation to which all PhD students and research department faculty are invited. The purpose of the ESA is not only to assess your personal progress but it also gives you the opportunity to discuss your work at its early stages and get feedback and ideas from faculty to improve your research. 

Armed with feedback from the Early Stage Assessment, you will work intensely on your thesis, focusing on the collection and analysis of empirical data and developing theoretical frameworks. Under the guidance of your supervisors, the thesis gives you the opportunity to conduct a substantial piece of original research. 

Late stage review

The Late Stage Review (LSR) takes place in the summer of year two of the PhD and follows the same principle as the Early Stage Assessment, in that its purpose is to assess your progress and provide you with feedback and advice on the direction and scope of your research. 

Our research areas

What our students say

“The programme structure is different from many other business schools because during the first year at Imperial we study the Master’s of Research (MRes), which is focused on developing strong foundations before continuing to the PhD programme. This also gives us additional time to discover opportunities and find the right paths for our research.”

Class profile 2022

20 new students per year

51% female students

20 nationalities represented

Funding and scholarships

Request a brochure, career impact.

In recent years, our PhD students have joined leading universities, research centres and institutions such as Tsinghua University, University College London, Copenhagen Business School, the Bank of England, the University of Bath, King’s College London, National Chengchi University, the University of Sussex and Renmin University in China. Others have sought top positions in industry or founded successful start-ups.

The doctoral programme has been re-structured in recent years to focus more on academic development and it is anticipated that over the coming years placements will focus more on academia than industry.

Find out more about career outcomes

Meet your faculty

Our PhD programme provides close collaboration between leading Analytics & Operations faculty and doctoral students, developing your research interests and providing continuous support and guidance throughout the programme.  

Alexander Michaelides

Kalyan Talluri

Wolfram Wiesemann

Edward Anderson

Martin Haugh

Xiaocheng Li

Reza Skandari

Jiankun Sun

Carol Propper

Franco Sassi

Jonathan Haskel

Marisa Miraldo

Richard Green

Pedro Rosa Dias

Esther Bøler

Franklin Allen

Patrick Bolton

Ramana Nanda

Lara Cathcart

Enrico Biffis

Christopher Hansman

Clara Martinez-Toledano

Alan Hughes

Celia Moore

Markus Perkmann

Christopher Tucci

James Barlow

Ileana Stigliani

Mark Kennedy

James Eteen

Eduardo B. Andrade

Andreas Eisingerich

Rajesh Bhargave

Sven Mikolon

Michelle Rogan

Frequently asked questions, how long does it take to complete the doctoral programme.

The Doctoral programme is structured to take between four to six years full-time. In the first year, all students undertake a one or two year MRes programme depending on their chosen research area specialism. Subject to satisfactory academic progress, students then progress to the PhD which takes between 3-4 years.

When does the academic year start?

The Doctoral programme has one intake each year in September and is spread over four to six years.

Do you offer any distance learning or part-time research programmes?

It is not possible to enrol on the Doctoral programme on a part-time or distance learning basis. Students must be in attendance throughout the full period of study.

Can I transfer from my current Doctoral programme to Imperial College Business School's Doctoral programme?

It is not usually possible to transfer onto the Doctoral programme as it is unlikely that previous studies would perfectly overlap with the School’s expertise.

Can I come to Imperial College Business School as a visiting student?

Please visit Imperial College London's visiting students page .

Can I have a part-time job whilst enrolled in the programme?

The Doctoral programme is full time. Students are able to undertake part-time work if this does not break any relevant visa and/or scholarship conditions, however the programme offers a living stipend to support students during their studies.

How many students do you accept onto the Doctoral programme every year?

Admission onto the Doctoral programme is highly competitive as we accept around 15 students each year, from a total of approximately 200 applications.

Is there a workspace assigned to Doctoral students?

There is a designated workspace which includes a computer and relevant software assigned to all enrolled Doctoral students. You will share working space with other PhD students in your cohort.

How do I apply and what documents do I need to submit with my application?

All applications to the Doctoral programme are made via our online platform. You will either need to select 'Business (MRes 1YFT)' or 'Business (MRes 2YFT)' based on your research area of interest. Further information can be found on our  Doctoral programme page.

Please refer to the  How to apply page  to see application deadlines, what documents you are required to submit with your application and to view the selection process.

When is the application deadline?

To find out more about application deadlines for our Doctoral programme please  visit the How to apply page .

What do I need to include in my statement of purpose?

One of the most important parts of our application form is the ‘statement of purpose’ section. It should be no more than one or two A4 pages and should cover the following points:

Your motivation for undertaking the programme

A discussion of possible research areas that you might pursue and how these are a good fit for Imperial College Business School

What interests you most about your chosen field of study

Relevant past study, industry, or research projects

Long-term career goals

I haven't decided what area I want to specialise in for my PhD, what should I do?

You should browse the description of the different research groups in the Business School and the webpages of faculty members. This will give an overview of their research interests and current projects. The MRes gives you an opportunity to pursue potential interests through courses and a project prior to committing to the PhD

Do I need a willing supervisor prior to application?

No, although in your application you should list a member of  faculty  you have identified as a potential supervisor. You can demonstrate in your statement of purpose how your research interests are aligned to a potential supervisor and the Business School.

Checking the research profiles of faculty members and Business School projects will give you an indication of whether the Business School is a good fit for you. If no faculty are working in your area of interest it is unlikely that you would be shortlisted, as we may not be able to provide supervisory support during your PhD.

During the MRes year, you will become part of the research community at Imperial College Business School and interact with faculty and other PhD students during taught courses and at seminars, which we hope will influence and help shape your research ideas for the PhD.

Are all applicants interviewed?

Not all applications progress to the interview stage of the selection process, however we interview all shortlisted candidates before making an offer. In the case of overseas candidates we will arrange an interview by telephone or via Skype.

Is GMAT/GRE a compulsory requirement?

Yes. A GMAT/GRE score must be submitted before we will consider an application. Any applications submitted without a GMAT/GRE score will be considered incomplete until we receive a score. Please note that we do not make offers on the condition that a candidate achieves a satisfactory GMAT/GRE score. To see the GMAT/GRE scores we look for, please refer to the  Entry Requirements page .

Do you offer Doctoral funding and stipend?

We offer a fully funded Doctoral programme at Imperial College Business School – this includes a tuition fee waiver and a stipend for up to five years. The 2024-25 rate of the Graduate Teaching Assistant scholarship stipend is £25,000. Rates are reviewed annually and are expected to increase for 2025-26 in line with Research Council UK rates. Stipends are tax-free and the continuation of the stipend will depend on your satisfactory progress on the programme.

What living costs should I allow for in London?

Living costs vary considerably depending on the area of London you choose to live in and your choice of accommodation.

Read more about  estimated London living costs  and  accommodation for postgraduates .

Do you offer Doctoral scholarships?

Within Imperial, we also have funding opportunities from various external studentships, including EPSRC, ESRC, and the Imperial College President’s PhD Scholarships .

Students who are eligible for other PhD  funding opportunities  that may be available to them are expected to apply for them.

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Start your journey

Study your doctoral programme at a global top 10 university offering world-class faculty, leadership coaching, global business experience, industry connections, specialist careers support and an exciting London location. 

Plymouth Business School

Phd finance.

Exploring the major challenges in today’s global financial markets and institutions and corporate ventures, PhD Finance will provide you with inspiring opportunities to undertake top level research on modern finance and investment frontiers. Supervised by scholars renowned in their fields, you’ll explore curious issues arising from the latest developments in finance research and industry practice, enriching the literature on your chosen topics.

Course details

Programme overview.

• This full time or part time doctoral programme is suitable for people who have a particular research question or topic in mind, and wish to explore this through independent study in order to produce an original contribution to the subject. If you aspire to a research career this is the most appropriate research degree to undertake. You will be guided by a small supervisory team of academic experts under the direction of a Director of Studies.  You will be expected to fully engage with skills development and training and to present your research in a range of scholarly contexts. Your PhD will be assessed via submission of a written thesis (up to 80,000 words) and a viva voce (an oral examination). For full details of what doing a PhD entails at the University of Plymouth, please visit our postgraduate research degrees page.

Entry requirements

Fees, costs and funding, how to apply.

• ) Apply online
• / Contact us
• ; Info for applicants
• 6 Studentships

The Doctoral College is able to answer any questions you may have about applying for or undertaking a postgraduate research degree at the University of Plymouth: [email protected]  or +44 1752 587640 .  

Competition, Innovation and Positioning (CIP)

There are a variety of connected interdisciplinary strands in CIP – markets and competition – economic behaviour and financial performance – dynamic positioning and innovation strategy. 

Bloomberg Interactive Learning Suite

Fitzroy Building

Meet our experts

Professor Peijie Wang

Professor of finance.

Dr James Benhin

Associate professor in economics in plymouth business school.

Dr Rania Naguib

Lecturer in economics.

Dr Rumbi Mukonoweshuro

Lecturer in finance.

Dr Moji Olugbode

Lecturer in accounting and finance.

Dr Alexander Haupt

Associate professor (reader) in economics.

Dr Steven Brand

Associate professor (senior lecturer) in economics.

Professor Shaofeng Liu

Mr Andrew Hunt

Associate head of school (undergraduate).

Professor Salima Paul

Emeritus professor.

Dr Ioannis Negkakis

Lecturer in accounting, funding for postgraduate research students.

• Durham University
• Student Gateway
• Staff Gateway

PhD (Finance) Programme

The PhD (Finance) programme at Durham offers a rigorous research training program and provides you with the opportunity to become an expert in your chosen field in finance.

Our experts in the Finance Department work on exceptionally diverse areas of finance, and publish in top journals such as the Journal of Finance, Review of Financial Studies, Journal of Economics, Journal of Econometrics, and Journal of Accounting and Economics. We therefore offer you the opportunity to pursue your PhD research on a variety of finance topics, including (but are not limited to) asset pricing, banking, corporate finance and governance, green finance, household finance, Islamic finance, financial econometrics, financial technologies and financial engineering, and market microstructure.

You will spend three years of supervised research (full-time), followed by one additional writing-up year, if needed. You will receive close guidance and mentorship from a team of supervisors who are experts in their field. You will be an integral part of the Department’s research activities, including attending our weekly departmental seminars that attract internationally renowned speakers. We also encourage and support you to present your PhD research at national and international conferences, and submit for journal publications.

You will have access to significant computing and database facilities within the department to support your research, such as AuditAnalytics, Bloomberg, Capital IQ, CSMAR, Thomson Reuters, and Wharton Research Data Service (WRDS) which features, amongst others, access to Boardex, Compustat, CRSP.

Funding opportunities

We offer a range of scholarships for our PhD students. Please regularly check this website as details of new scholarship opportunities will be frequently updated throughout the academic year.

Durham Doctoral Teaching Fellowship (DDTF)

Apply for a fully funded PhD in Finance, Durham University

The Department of Finance  at Durham University Business School is very pleased to offer a  Durham Doctoral Teaching Fellowship (DDTF) , we encourage applications from PhD candidates aspiring an academic career.

The purpose of the DDTF is to support the successful Fellow in producing a high-quality PhD thesis while at the same time acquiring teaching skills that will enhance the Fellow's career progression. In the teaching role, the DDTF will assist and support faculty staff to deliver teaching and support learning. The role aims to enhance the Fellow's own progression and achievements whilst providing stable and supported employment within the University.

The Fellow will work under the supervision of academic faculty in the Department of Finance and will be assigned to a teaching mentor (normally a single member of academic staff) who will provide oversight, supervision and support for all teaching-related activities. The teaching mentor will normally be distinct from the supervisor of the research project. Once fully implemented, new DDTFs will be offered mentorship from more experienced fellows and all DDTFs will belong to a DDTF community.

For more information, please contact out PhD co-ordinator at [email protected].  

The Economic and Social Research Council (ESRC) NINE DTP studentships .

The ESRC offers a range of studentships available for a 3-year PhD, or a Masters by Research and PhD (1+3 year), or a 3.5-year PhD plus research training.

Durham-Chinese Scholarships Council (CSC) studentships .

The scholarships are open to applicants from Mainland China wishing to study for a PhD at Durham. There are 20 awards available in all disciplines.

For further information contact us via email at [email protected]  

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Finance PhD

Key information.

• 1st  in the UK for annual research income in  2019-2022   (Chartered Association of Business Schools)
• 8th  in the UK for Economics and Finance (Research.com Best Universities by Discipline 2023)
• 8th  in the UK for citations in Business and Economics   (The Times Higher Education World University Rankings 2023)

Find solutions to the practical problems that market practitioners and policy-makers face.

You’ll work with researches who have strong academic backgrounds. Some also have significant industry experience, having held various roles in top-tier investment banks, hedge funds and relevant industries. Our research is mainly conducted within two research groups: 

• Our crossdisciplinary  Business Finance Research Group  focuses on corporate finance and governance in both public and private companies, as well the roles of private equity firms, banks and other financial intermediaries. The group publishes on areas such as financial misconduct, banking regulation, entrepreneurial finance and the impact of global crises on corporate finance. 
• Our Quantitative FinTech (QFin) research group includes experts in quantitative finance, FinTech and climate finance. The group collaborates with business and industry on numerous research initiatives with direct relevance to important problems in global financial markets. 

Both groups hold regular research seminars with internal and external speakers.

Find out more about research at the University of Sussex Business School

We expect successful applicants to be admitted to the Integrated PhD. This provides the rigorous research training you need to become a skilled practitioner. If you’re unsure which route to apply for, please apply for the Integrated PhD .

Accreditation

You’ll join the EQUIS and AMBA-accredited University of Sussex Business School. Learn more about all of our course accreditations here. Find out more

We understand that deciding where and what to study is a very important decision. We’ll make all reasonable efforts to provide you with the courses, services and facilities described in this prospectus. However, if we need to make material changes, for example due to government or regulatory requirements, or unanticipated staff changes, we’ll let you know as soon as possible.

Masters and P h D events

Meet us on campus or online

Book your place

Entry requirements

• UK requirements
• International requirements

Please select your country from the list.

Philippines

Saudi arabia, south africa, south korea, switzerland, united arab emirates, my country is not listed.

If your country is not listed, you need to contact us and find out the qualification level you should have for this course. Contact us

English language requirements

Ielts (academic).

High level (6.5 overall, including at least 6.0 in each component).

IELTS scores are valid for two years from the test date. You cannot combine scores from more than one sitting of the test. Your score must be valid when you begin your Sussex course.  Find out more about IELTS

We accept IELTS One Skills Retake.

We do not accept IELTS Online.

Check full details of our English Language requirements and find out more about some of the alternative English language qualifications listed below

Alternative English language qualifications

Proficiency tests, cambridge advanced certificate in english (cae).

169 overall, including at least 162 in each skill.

We would normally expect the CAE test to have been taken within two years before the start of your course.

You cannot combine scores from more than one sitting of the test. Find out more about Cambridge English: Advanced

Cambridge Certificate of Proficiency in English (CPE)

We would normally expect the CPE test to have been taken within two years before the start of your course.

You cannot combine scores from more than one sitting of the test. Find out more about Cambridge English: Proficiency

LanguageCert International ESOL SELT

High level (International ESOL SELT B2 with a minimum of 39 in each component)

LanguageCert International ESOL scores are valid for two years from the test date. Your score must be valid when you begin your Sussex course. Find out more about LanguageCert SELT

We only accept LanguageCert when taken at SELT Test Centres. We do not accept the online version.

Pearson PTE Academic

High level (62 overall, including at least 59 in all four skills)

PTE (Academic) scores are valid for two years from the test date. You cannot combine scores from more than one sitting of the test. Your score must be valid when you begin your Sussex course. Find out more about Pearson (PTE Academic)

We do not accept the PTE Academic Online test.

TOEFL (iBT)

High level 88 overall, including at least 20 Listening, 19 in Reading, 21 in Speaking, 23 in Writing.

TOEFL (iBT) scores are valid for two years from the test date. You cannot combine scores from more than one sitting of the test. Your score must be valid when you begin your Sussex course. Find out more about TOEFL (iBT)

We do not accept TOEFL (iBT) Home Edition.

The TOEFL Institution Code for the University of Sussex is 9166.

English language qualifications

As/a-level (gce).

Grade C or above in English Language.

Hong Kong Advanced Level Examination (HKALE)/ AS or A Level: grade C or above in Use of English.

GCE O-level

Grade C or above in English.

Brunei/Cambridge GCE O-level in English: grades 1-6.

Singapore/Cambridge GCE O-level in English: grades 1-6.

GCSE or IGCSE

Grade C or above in English as a First Language (Grade 4 or above in GCSE from 2017).

Grade B or above in English as a Second Language.

Ghana Senior Secondary School Certificate

If awarded before 1993: grades 1-6 in English language.

If awarded between 1993 and 2005: grades A-D in English language.

Hong Kong Diploma of Secondary Education (HKDSE)

 Level 4, including at least 3 in each component in English Language.

Indian School Certificate (Standard XII)

The Indian School Certificate is accepted at the grades below when awarded by the following examination boards:

Central Board of Secondary Education (CBSE) – English Core only: 70%

Council for Indian School Certificate Examinations (CISCE) - English: 70% 

International Baccalaureate Diploma (IB)

English A or English B at grade 5 or above.

Kenya Certificate of Secondary Education

Grades A - C in English language

Malaysian Certificate of Education (SPM) 1119/GCE O-level

If taken before the end of 2008: grades 1-6 in English Language.

If taken from 2009 onwards: grade C or above in English Language.

The qualification must be jointly awarded by the University of Cambridge Local Examinations Syndicate (UCLES).

West African Senior School Certificate

Grades A1-C6 (1-6) in English language when awarded by the West African Examinations Council (WAEC) or the National Examinations Council (NECO).

Country exceptions

Select to see the list of exempt english-speaking countries.

If you are a national of one of the countries below, or if you have recently completed a qualification equivalent to a UK Bachelors degree or higher in one of these countries, you will normally meet our English requirement. Note that qualifications obtained by distance learning or awarded by studying outside these countries cannot be accepted for English language purposes.

You will normally be expected to have completed the qualification within two years before starting your course at Sussex. If the qualification was obtained earlier than this, we would expect you to be able to demonstrate that you have maintained a good level of English, for example by living in an English-speaking country or working in an occupation that required you to use English regularly and to a high level.

Please note that this list is determined by the UK’s Home Office, not by the University of Sussex.

List of exempt countries: 

• Antigua and Barbuda
• New Zealand
• St Kitts and Nevis
• St Vincent and the Grenadines
• The British Overseas Territories
• Trinidad and Tobago
• United Kingdom

** Canada: you must be a national of Canada; other nationals not on this list who have a degree from a Canadian institution will not normally be exempt from needing to provide evidence of English.

English language support

If you don’t meet the English language requirements for your degree, you may be able to take a pre-sessional course

• Visas and immigration

Admissions information for applicants

If your qualifications aren’t listed or you have a question about entry requirements, contact us

• How to apply

If you’d like to join us as a research student, there are two main routes:

• browse funded projects in this subject area
• browse our potential supervisors and propose your own research project.

Find out how to apply for a PhD at Sussex

Full-time and part-time study

Choose to work on your research full time or part time, to fit around your work and personal life. For details about part-time study, contact us at [email protected]

PhD or MPhil?

You can choose to study for a PhD or an MPhil. PhD and MPhil degrees differ in duration and in the extent of your research work.

• For a PhD, your research work makes a substantial original contribution to knowledge or understanding in your chosen field.
• For an MPhil, your work is an independent piece of research but in less depth than for a PhD. You’ll graduate with the degree title Master of Philosophy. You might be able to change to a PhD while you study for an MPhil.

Our supervisors

Dr Mostak Ahamed

Senior Lecturer in Finance

[email protected]

View profile of Mostak Ahamed

Lecturer in Finance

[email protected]

View profile of Xi Chen

Prof Ranko Jelic

Professor of Finance

[email protected]

View profile of Ranko Jelic

Prof Andreas Kaeck

[email protected]

View profile of Andreas Kaeck

Dr Faek Menla Ali

[email protected]

View profile of Faek Menla Ali

Prof Radu Tunaru

Professor of Finance & Risk Management

[email protected]

View profile of Radu Tunaru

Dr Xiaoxiang Zhang

Reader in Finance and Corporate Governan

[email protected]

View profile of Xiaoxiang Zhang

Funding and fees

How can i fund my course, funded projects and scholarships.

Our aim is to ensure that every student who wants to study with us is able to despite financial barriers, so that we continue to attract talented and unique individuals. Don’t miss out on scholarships – check the specific application deadlines for funding opportunities. Note that funded projects aren’t available for all our PhDs.

£3,000 scholarships available to environmental influencers bringing about real-world behaviour change

Find out more

£800 scholarship available to reward talented organ player studying on any course at Sussex.

Scholarships of £800 are available to reward talented musicians studying on any course at Sussex

Cash scholarships available for students who have demonstrated sporting excellence

University of Sussex Stuart Hall Doctoral Scholarship

Applying for USA Federal Student Aid?

If any part of your funding, at any time, is through USA federal Direct Loan funds, you will be registered on a separate version of this degree which does not include the possibility of distance learning which is prohibited under USA federal regulations. Find out more about American Student Loans and Federal Student Aid .

Part-time work

We advertise around 2,500 part-time jobs a year so you can make money and gain work experience. We have a special scheme to employ students on campus, wherever possible.

Find out more about careers and employability

How much does it cost?

Fees for self-funding students.

Home students: £4,786 per year for full-time students

Channel Islands and Isle of Man students: £4,786 per year for full-time students

International students: £21,500 per year for full-time students

Home PhD student fees are set at the level recommended by United Kingdom Research and Innovation (UKRI) annually, rising in line with inflation. Overseas fees are subject to an annual increase - see details on our tuition fees page

Additional costs

Note about additional costs.

Please note that all costs are best estimates based on current market values. Activities may be subject to unavoidable change in response to Government advice. We’ll let you know at the earliest opportunity. We review estimates every year and they may vary with inflation. Find out how to budget for student life .

Empirical research costs

On top of your PhD fees and living costs, you may also need to cover some research and training costs, relevant to your research project. These costs will depend on your research topic and training needs, but may include: - travel (to archives, collections or scientific facilities) - a laptop - overseas fieldwork costs (travel and accommodation, and language training) - conference costs (travel, registration fees and accommodation) - laboratory consumables and workshop materials - participant costs - transcription or translation costs - open-access publication costs. If you have a scholarship from one of the UK Research Councils, your scholarship should cover these types of costs. You'll receive details of how to claim this additional funding. If you're self funded, or if your scholarship doesn’t cover these costs, check with the Research and Enterprise Co-ordinator in your School for details of School or Doctoral School funding that may be available.

• Living costs

Find out typical living costs for studying at Sussex

Find out about our terms and conditions

Explore our campus

Experience Sussex life in our virtual tour.

Start your virtual tour

PhD Information Sessions

Visit campus and chat to staff and students. Book your place

Online PhD Sessions

Join a live webchat. Book your place

International

Meet us in your country

Course enquiries

+44 (0)1273 876787

Send us a message

Admissions enquiries

If you haven’t applied yet:

+44 (0)1273 678169 business-researchstudents@​sussex.ac.uk

Find out about the University of Sussex Business School

After you’ve applied:

+44 (0)1273 877773 [email protected]

Find out how to apply

Quick links

• Guide to PhD study
• PhD support
• Academic facilities
• Open Days and events
• Accommodation
• International students
• Student life
• Order a printed prospectus

What do you want to do next?

• Courses Browse our courses by subject area
• Sussex Life Find out about life at Sussex
• Visit Come to a PhD Open Evening
• Apply Find out how to apply

Find a programme

Accounting and finance.

Find out about the University of Bristol's PhD in Accounting and Finance, including entry requirements, supervisors and research groups.

Advanced Quantitative Methods

Find out about the University of Bristol's PhD in Advanced Quantitative Methods, including entry requirements, supervisors and research groups.

Aerosol Science

Find out about the University of Bristol's PhD in Aerosol Science, including entry requirements, supervisors and research groups.

Aerospace Engineering

Find out about the University of Bristol's PhD in Aerospace Engineering, including entry requirements, supervisors and research groups.

Anthropology and Archaeology

Find out about the University of Bristol's PhD in Anthropology and Archaeology, including entry requirements, supervisors and research groups.

Biochemistry

Find out about the University of Bristol's PhD in Biochemistry, including entry requirements, supervisors and research groups.

Biological Sciences

Find out about the University of Bristol's PhD in Biological Sciences, including entry requirements, supervisors and research groups.

Cellular and Molecular Medicine

Find out about the University of Bristol's PhD in Cellular and Molecular Medicine, including entry requirements, supervisors and research groups.

Find out about the University of Bristol's PhD in Chemistry, including entry requirements, supervisors and research groups.

Civil Engineering

Find out about the University of Bristol's PhD in Civil Engineering, including entry requirements, supervisors and research groups.

Classics and Ancient History

Find out about the University of Bristol's PhD in Classics and Ancient History, including entry requirements, supervisors and research groups.

Clinical Conscious Sedation and Anxiety Management

Comparative literatures and cultures.

Find out about the University of Bristol's PhD and MPhil in Comparative Literatures and Cultures, including structure and supervisors.

Computer Science

Find out about the University of Bristol's PhD in Computer Science, including entry requirements, career prospects and research groups.

Creative Writing

Find out about the University of Bristol's PhD in Creative Writing, including entry requirements, supervisiors and research groups.

Cyber Security (Cyber Secure Everywhere)

Dds orthodontics.

Find out about the University of Bristol's Orthodontics Doctorate in Dental Surgery (DDS) research degree, including career prospects and supervisors.

DEdPsy Educational Psychology

Find out about the University of Bristol's Doctor of Educational Psychology (DEdPsy) research degree, including career prospects and supervisors.

Disability Studies

Find out about the University of Bristol's PhD in Disability Studies, including entry requirements, career prospects and research groups.

Dynamic Molecular Cell Biology (Wellcome Trust)

Find out about the University of Bristol's PhD in Dynamic Molecular Cell Biology, fully funded by the Wellcome Trust for UK students.

Earth Sciences

Find out about the University of Bristol's PhD in Earth Sciences, including entry requirements, supervisiors and research groups.

East Asian Studies

Find out about the University of Bristol's PhD in East Asian Studies, including entry requirements and key themes.

Find out about the University of Bristol's PhD in Economics, including entry requirements, supervisiors and research groups.

EdD Education: Learning, Leadership and Policy

Find out about the University of Bristol's EdD in Education: Learning, Leadership and Policy, including entry requirements, career prospects and research groups.

Find out about the University of Bristol's PhD in Education, including entry requirements, career prospects and research groups.

Electrical and Electronic Engineering

Find out about the University of Bristol's PhD in Electrical and Electronic Engineering, including entry requirements and research groups.

EngD Composites Manufacture

Engd future innovation in non-destructive evaluation, engineering biology, engineering mathematics.

Find out about the University of Bristol's PhD in Engineering Mathematics, including entry requirements, career prospects and research groups.

English Literature

Find out about the University of Bristol's PhD in English Literature, including entry requirements, supervisors and research groups.

Exercise, Nutrition and Health

Find out about the University of Bristol's PhD in Exercise, Nutrition and Health, including entry requirements, supervisors and research groups.

Film and Television

Find out about the University of Bristol's PhD in Film and Television, including entry requirements, supervisors and research groups.

Find out about the University of Bristol's PhD in French, including entry requirements, supervisors and research groups.

Geographical Sciences (Human Geography)

Find out about the University of Bristol's PhD in Geographical Sciences (Human Geography), including entry requirements, supervisors and research groups.

Geographical Sciences (Physical Geography)

Find out about the University of Bristol's PhD in Geographical Sciences (Physical Geography), including entry requirements, supervisors and research groups.

Find out about the University of Bristol's PhD in German, including entry requirements, supervisors and research groups.

Global Challenges and Transformations

Find out about the University of Bristol's PhD in Global Challenges and Transformations, including entry requirements, supervisors and research groups.

Graduate Diploma Economics

Great western four+ doctoral training partnership (nerc).

Find out about the Great Western Four+ Doctoral Training Partnership, a multidisciplinary training environment for postgraduate students in NERC sciences.

Health and Wellbeing

Find out about the University of Bristol's PhD in Health and Wellbeing, including entry requirements, supervisors and research groups.

Hispanic, Portuguese and Latin American Studies

Find out about the University of Bristol's PhD in Hispanic, Portuguese and Latin American Studies, including supervisors and research groups.

Find out about the University of Bristol's PhD in History, including entry requirements, supervisors and research groups.

History of Art

Find out about the University of Bristol's PhD in History of Art, including entry requirements, supervisors and research groups.

Innovation and Entrepreneurship

Find out about the University of Bristol's PhD in Innovation and Entrepreneurship, including entry requirements, supervisors and research groups.

Integrative Cardiovascular Science (BHF)

Find out about the University of Bristol's PhD in Integrative Cardiovascular Science (BHF), including entry requirements, funding and structure.

Find out about the University of Bristol's PhD in Italian, including entry requirements, structure and research groups.

Find out about the University of Bristol's PhD in Law, including entry requirements, structure and research groups.

Linguistics

Llm law - banking and finance law.

Find out about the University of Bristol's LLM in Banking and Finance Law, including structure, entry requirements and career prospects.

LLM Law - Commercial Law

Find out about the University of Bristol's LLM in Commercial Law, including structure, entry requirements and career prospects.

LLM Law - Company Law and Corporate Governance

Find out about the University of Bristol's LLM in Company Law and Corporate Governance, including structure, entry requirements and career prospects.

LLM Law - Employment, Work and Equality

Find out about the University of Bristol's LLM in Employment, Work and Equality Law, including structure, entry requirements and career prospects.

LLM Law - General Legal Studies

Find out about the University of Bristol's LLM in General Legal Studies, including structure, entry requirements and career prospects.

LLM Law - Health, Law and Society

Find out about the University of Bristol's LLM in Health, Law and Society, including structure, entry requirements and career prospects.

LLM Law - Human Rights Law

Find out about the University of Bristol's LLM in Human Rights Law, including structure, entry requirements and career prospects.

LLM Law - International Commercial Law

Find out about the University of Bristol's LLM in International Commercial Law, including structure, entry requirements and career prospects.

LLM Law - International Law

Find out about the University of Bristol's LLM in International Law, including structure, entry requirements and career prospects.

LLM Law - International Law and International Relations

Find out about the University of Bristol's LLM in International Law and International Relations, including structure, entry requirements and career prospects.

LLM Law - Labour Law and Corporate Governance

Llm law - law and globalisation, llm law - public law, llm law, environment, sustainability & business.

Find out about the University of Bristol's LLM in Law, Environment, Sustainability and Business, including structure, entry requirements and career prospects.

LLM Law, Environment, Sustainability and Business

Llm law, innovation & technology.

Find out about the University of Bristol's LLM in Law, Innovation and Technology, including structure, entry requirements and career prospects.

LLM Law, Innovation and Technology

Ma anthropology.

Find out about the University of Bristol's MA in Anthropology, including structure, entry requirements and career prospects.

MA Black Humanities

Ma chinese-english audiovisual translation.

Find out about the University of Bristol's MA in Chinese-English Audiovisual Translation, including structure, entry requirements and career prospects.

MA Chinese-English Translation

Find out about the University of Bristol's MA in Chinese-English Translation, including structure, entry requirements and career prospects.

MA Comparative Literatures and Cultures

Find out about the University of Bristol's MA in Comparative Literatures and Cultures, including structure, entry requirements and career prospects.

MA Composition of Music for Film and Television

Find out about the University of Bristol's MA in Composition of Music for Film and Television, including structure, entry requirements and career prospects.

MA Creative Innovation and Entrepreneurship

Find out about the University of Bristol's MA in Creative Innovation and Entrepreneurship, including structure, entry requirements and career prospects.

MA Creative Writing

Find out about the University of Bristol's MA in Creative Writing, including structure, entry requirements and career prospects.

MA English Literature

Find out about the University of Bristol's MA in English Literature, including structure, entry requirements and career prospects.

MA Environmental Humanities

Find out about the University of Bristol's MA in Environmental Humanities, including structure, entry requirements and career prospects.

MA Film and Television

Find out about the University of Bristol's MA in Film and Television, including structure, entry requirements and career prospects.

Find out about the University of Bristol's MA in History, including structure, entry requirements and career prospects.

MA History of Art

Find out about the University of Bristol's MA in History of Art, including structure, entry requirements and career prospects.

MA Immersive Arts (Virtual and Augmented Reality)

Find out about the University of Bristol's MSc, PGCert and PGDip in Immersive Arts (Virtual and Augmented Reality) including structure and career prospects.

Find out about the University of Bristol's MA in Law, including structure, entry requirements and career prospects.

MA Logic and Philosophy of Mathematics

Ma medieval studies.

Find out about the University of Bristol's MA in Medieval Studies, including structure, entry requirements and career prospects.

Find out about the University of Bristol's MA in Music, including structure, entry requirements and career prospects.

MA Philosophy

Ma philosophy and history of science, ma philosophy of biological and cognitive sciences, ma philosophy of physics, ma religion, ma translation, ma translation (online).

Find out about the University of Bristol's PhD in Management, including entry requirements, structure and research groups.

Mathematics

Find out about the University of Bristol's PhD in Mathematics, including entry requirements, structure and research groups.

Mechanical Engineering

Find out about the University of Bristol's PhD in Mechanical Engineering, including entry requirements, supervisors and research groups.

Medieval Studies

Find out about the University of Bristol's PhD in Medieval Studies, including entry requirements, supervisors and research groups.

Molecular, Genetic and Lifecourse Epidemiology (Wellcome)

Find out about the University of Bristol's PhD in Molecular, Genetic and Lifecourse Epidemiology, fully funded by the Wellcome Trust for UK students.

MRes Advanced Quantitative Methods

Find out about the University of Bristol's MRes in Advanced Quantitative Methods, including structure, entry requirements and career prospects.

MRes Economics

Find out about the University of Bristol's MRes in Economics, including structure, entry requirements and career prospects.

MRes Education

Find out about the University of Bristol's MRes in Education, including structure, entry requirements and career prospects.

MRes Global Political Economy

Mres health sciences research.

Find out about the University of Bristol's MRes in Health Sciences Research, including structure, entry requirements and career prospects.

MRes Security, Conflict and Human Rights

Mres sustainable futures.

Find out about the University of Bristol's MRes in Sustainable Futures, including structure, entry requirements and career prospects.

MSc Accounting and Finance

Find out about the University of Bristol's MSc in Accounting and Finance, including structure, entry requirements and career prospects.

MSc Accounting, Finance and Management

Find out about the University of Bristol's MSc in Accounting, Finance and Management, including structure, entry requirements and career prospects.

MSc Advanced Composites

Find out about the University of Bristol's MSc in Advanced Composites, including structure, entry requirements and career prospects.

MSc Advanced Microelectronic Systems Engineering

Find out about the University of Bristol's MSc in Advanced Microelectronic Systems Engineering, including structure, entry requirements and career prospects.

MSc Aerial Robotics

Find out about the University of Bristol's MSc in Aerial Robotics, including structure, entry requirements and career prospects.

MSc Applied Neuropsychology

Find out about the University of Bristol's MSc in Applied Neuropsychology, including structure, entry requirements and career prospects.

MSc Applied Neuropsychology (Distance Learning)

Msc applied neuropsychology (online), msc banking, regulation and financial stability.

Find out about the University of Bristol's MSc in Banking, Regulation and Financial Stability, including structure, entry requirements and career prospects.

MSc Bioinformatics

Find out about the University of Bristol's MSc in Bioinformatics, including structure, entry requirements and career prospects.

MSc Biomedical Engineering

Msc biomedical sciences research.

Find out about the University of Bristol's MSc in Biomedical Sciences Research, including structure, entry requirements and career prospects.

MSc Biorobotics

Find out about the University of Bristol's MSc in Biorobotics, including structure, entry requirements and career prospects.

MSc Business Analytics

Find out about the University of Bristol's MSc in Business Analytics, including structure, entry requirements and career prospects.

MSc Business Innovation and Entrepreneurship

Find out about the University of Bristol's MSc in Innovation and Entrepreneurship, including structure, entry requirements and career prospects.

MSc by research Global Environmental Challenges

Find out about the University of Bristol's MSc by research Global Environmental Challenges, including structure, entry requirements and career prospects.

MSc Cardiovascular Perfusion (distance learning)

Msc cardiovascular perfusion (online), msc climate change science and policy.

Find out about the University of Bristol's MSc in Climate Change Science and Policy, including structure, entry requirements and career prospects.

MSc Clinical Neuropsychology

Find out about the University of Bristol's MSc in Clinical Neuropsychology, including structure, entry requirements and career prospects.

MSc Clinical Perfusion Science

Msc clinical research methods and evidence-based medicine, msc communication networks and signal processing.

Find out about the University of Bristol's MSc in Communication Networks and Signal Processing, including structure, entry requirements and career prospects.

MSc Computer Science (Conversion)

Find out about the University of Bristol's MSc conversion programme in Computer Science, including structure, entry requirements and career prospects.

MSc Contemporary Identities

Find out about the University of Bristol's MSc in Contemporary Identities, including structure, entry requirements and career prospects.

MSc Cyber Security (Infrastructures Security)

Find out about the University of Bristol's MSc in Cyber Security (Infrastructures Security), including structure, entry requirements and career prospects.

MSc Data Science

Find out about the University of Bristol's MSc in Data Science, including structure, entry requirements and career prospects.

MSc Data Science (Distance Learning)

Msc data science (online), msc dental implantology.

Find out about the University of Bristol's MSc in Dental Implantology, including structure, entry requirements and career prospects.

MSc Development and Security

Find out about the University of Bristol's MSc in Development and Security, including structure, entry requirements and career prospects.

MSc Digital Health

Find out about the University of Bristol's MSc in Digital Health, including structure, entry requirements and career prospects.

MSc Earthquake Engineering and Infrastructure Resilience

Find out about the University of Bristol's MSc in Earthquake Engineering and Infrastructure Resilience, including structure and career prospects.

MSc East Asian Development and the Global Economy

Find out about the University of Bristol's MSc in East Asian Development and the Global Economy, including structure and career prospects.

MSc Economics

Find out about the University of Bristol's MSc in Economics, including structure, entry requirements and career prospects.

MSc Economics and Finance

Find out about the University of Bristol's MSc in Economics and Finance, including structure, entry requirements and career prospects.

MSc Economics with Data Science

Find out about the University of Bristol's MSc in Economics with Data Science, including structure, entry requirements and career prospects.

MSc Economics, Finance and Management

Find out about the University of Bristol's MSc in Economics, Finance and Management including structure, entry requirements and career prospects.

MSc Education (Education and Climate Change)

Find out about the University of Bristol's MSc in Education (Education and Climate Change), including structure, entry requirements and career prospects.

MSc Education (Inclusive Education)

Find out about the University of Bristol's MSc in Education (Inclusive Education), including structure, entry requirements and career prospects.

MSc Education (Leadership and Policy)

Find out about the University of Bristol's MSc in Education (Leadership and Policy), including structure, entry requirements and career prospects.

MSc Education (Learning, Technology and Society)

Find out about the University of Bristol's MSc in Education (Learning, Technology and Society), including structure, entry requirements and career prospects.

MSc Education (Mathematics Education)

Find out about the University of Bristol's MSc in Education (Mathematics Education), including structure, entry requirements and career prospects.

MSc Education (Neuroscience and Education)

Find out about the University of Bristol's MSc in Education (Neuroscience and Education), including structure, entry requirements and career prospects.

MSc Education (Open Pathway)

Find out about the University of Bristol's MSc in Education (Open Pathway), including structure, entry requirements and career prospects.

MSc Education (Policy and International Development)

Find out about the University of Bristol's MSc in Education (Policy and International Development) including structure, entry requirements and career prospects.

MSc Education (Teaching and Learning)

Msc engineering mathematics.

Find out about the University of Bristol's MSc in Engineering Mathematics, including structure, entry requirements and career prospects.

MSc Engineering with Management

Find out about the University of Bristol's MSc in Engineering with Management, including structure, entry requirements and career prospects.

MSc Environmental Analytical Chemistry

Msc environmental modelling and data analysis.

Find out about the University of Bristol's MSc in Environmental Modelling and Data Analysis, including structure, entry requirements and career prospects.

MSc Environmental Policy and Management

Find out about the University of Bristol's MSc in Environmental Policy and Management, including structure, entry requirements and career prospects.

MSc Epidemiology

Find out about the University of Bristol's MSc in Epidemiology, including structure, entry requirements and career prospects.

MSc Finance and Investment

Find out about the University of Bristol's MSc in Finance and Investment, including structure, entry requirements and career prospects.

MSc Financial Technology

Find out about the University of Bristol's MSc in Financial Technology, including structure, entry requirements and career prospects.

MSc Financial Technology with Data Science

Find out about the University of Bristol's MSc in Financial Technology with Data Science, including structure, entry requirements and career prospects.

MSc Gender and International Relations

Find out about the University of Bristol's MSc in Gender and International Relations, including structure, entry requirements and career prospects.

MSc Geographic Data Science and Spatial Analytics

Find out about the University of Bristol's MSc in Geographic Data Science and Spatial Analytics, including structure, entry requirements and career prospects.

MSc Global Development and Environment

Find out about the University of Bristol's MSc in Global Development and Environment, including structure, entry requirements and career prospects.

MSc Global Management

Msc global operations and supply chain management.

Find out about the University of Bristol's MSc in Global Operations and Supply Chain Management, including structure, entry requirements and career prospects.

MSc Global Wildlife Health and Conservation

Find out about the University of Bristol's MSc in Global Wildlife Health and Conservation, including structure, entry requirements and career prospects.

MSc Health Economics and Health Policy Analysis

Msc health professions education, msc health professions education (online), msc healthcare management, msc healthcare management (online), msc human geography: society and space.

Find out about the University of Bristol's MSc in Human Geography: Society and Space, including structure, entry requirements and career prospects.

MSc Human Resource Management and the Future of Work

Find out about the University of Bristol's MSc in Human Resource Management and the Future of Work, including structure and career prospects.

MSc Human-Computer Interaction (Online)

Msc image and video communications and signal processing.

Find out about the University of Bristol's MSc in Image and Video Communications and Signal Processing, including structure and career prospects.

MSc Immersive Technologies (Virtual and Augmented Reality)

Find out about the University of Bristol's MSc in Immersive Technologies (Virtual and Augmented Reality), including structure and career prospects.

MSc Innovation and Entrepreneurship

Msc international business and strategy: global challenges.

Find out about the University of Bristol's MSc in International Business and Strategy: Global Challenges), including structure and career prospects.

MSc International Development

Find out about the University of Bristol's MSc in International Development, including structure, entry requirements and career prospects.

MSc International Relations

Find out about the University of Bristol's MSc in International Relations, including structure, entry requirements and career prospects.

MSc International Security

Find out about the University of Bristol's MSc in International Security, including structure, entry requirements and career prospects.

MSc Management

Find out about the University of Bristol's MSc in Management, including structure, entry requirements and career prospects.

MSc Management (CSR and Sustainability)

Find out about the University of Bristol's MSc in Management (CSR and Sustainability), including structure, entry requirements and career prospects.

MSc Management (Digitalisation and Big Data)

Find out about the University of Bristol's MSc in Management (Digitalisation and Big Data), including structure, entry requirements and career prospects.

MSc Management (Entrepreneurship and Innovation)

Find out about the University of Bristol's MSc in Management (Entrepreneurship and Innovation), including structure, entry requirements and career prospects.

MSc Management (International Business)

Find out about the University of Bristol's MSc in Management (International Business), including structure, entry requirements and career prospects.

MSc Management (International Human Resource Management)

Find out about the University of Bristol's MSc in Management (International Human Resource Management), including structure and career prospects.

MSc Management (Marketing)

Find out about the University of Bristol's MSc in Management (Marketing), including structure, entry requirements and career prospects.

MSc Management (Project Management)

Find out about the University of Bristol's MSc in Management (Project Management), including structure, entry requirements and career prospects.

MSc Marketing

Find out about the University of Bristol's MSc in Marketing, including structure, entry requirements and career prospects.

MSc Mathematical Sciences

Find out about the University of Bristol's MSc in Mathematical Sciences, including structure, entry requirements and career prospects.

MSc Medical Statistics and Health Data Science

Find out about the University of Bristol's MSc in Medical Statistics and Health Data Science, including structure, entry requirements and career prospects.

MSc Molecular Neuroscience

Find out about the University of Bristol's MSc in Molecular Neuroscience, including structure, entry requirements and career prospects.

MSc Nanoscience and Functional Nanomaterials

Msc nuclear science and engineering.

Find out about the University of Bristol's MSc in Nuclear Science and Engineering, including structure, entry requirements and career prospects.

MSc Nutrition, Physical Activity and Public Health

Find out about the University of Bristol's MSc in Nutrition, Physical Activity and Public Health, including structure, entry requirements and career prospects.

MSc Optical Communications and Signal Processing

Find out about the University of Bristol's MSc in Optical Communications and Signal Processing, including structure, entry requirements and career prospects.

MSc Optoelectronic and Quantum Technologies

Find out about the University of Bristol's MSc in Optoelectronic and Quantum Technologies, including structure, entry requirements and career prospects.

MSc Oral Medicine

Find out about the University of Bristol's MSc in Oral Medicine, including structure, entry requirements and career prospects.

MSc Orthopaedic Research Methods and Evidence-Based Medicine

Msc palaeobiology.

Find out about the University of Bristol's MSc in Palaeobiology, including structure, entry requirements and career prospects.

MSc Perfusion Science

Msc periodontology.

Find out about the University of Bristol's MSc and Postgraduate Certificate in Perfusion Science, including structure, entry requirements and career prospects.

MSc Policy Research

Find out about the University of Bristol's MSc in Policy Research, including structure, entry requirements and career prospects.

MSc Psychology (Conversion)

Msc psychology of education bps.

Find out about the University of Bristol's MSc conversion programme in Psychology of Education, accreddiated by the British Psychological Society,

MSc Public Health

Find out about the University of Bristol's MSc in Public Health, including structure, entry requirements and career prospects.

MSc Public Policy

Find out about the University of Bristol's MSc in Public Policy, including structure, entry requirements and career prospects.

MSc Public Policy Analysis (Distance Learning)

Msc reproduction and development.

Find out about the University of Bristol's MSc, PGCert and PGDip in Reproduction and Development, including structure, entry requirements and career prospects.

MSc Robotics

Find out about the University of Bristol's MSc in Robotics, including structure, entry requirements and career prospects.

MSc Science Communication for a Better Planet

Find out about the University of Bristol's MSc in Science Communication for a Better Planet, including structure, entry requirements and career prospects.

MSc Scientific Computing with Data Science

Find out about the University of Bristol's MSc in Scientific Computing with Data Science, including structure, entry requirements and career prospects.

MSc Social and Cultural Theory

Find out about the University of Bristol's MSc in Social and Cultural Theory, including structure, entry requirements and career prospects.

MSc Social Innovation and Entrepreneurship

Find out about the University of Bristol's MSc in Social Innovation and Entrepreneurship, including structure, entry requirements and career prospects.

MSc Social Science Research Methods (Management)

Find out about the University of Bristol's MSc in Social Science Research Methods (Management), including structure, entry requirements and career prospects.

MSc Social Science Research Methods (Politics)

Find out about the University of Bristol's MSc in Social Science Research Methods (Politics), including structure, entry requirements and career prospects.

MSc Social Science Research Methods (Sociology)

Find out about the University of Bristol's MSc in Social Science Research Methods (Sociology), including structure, entry requirements and career prospects.

MSc Social Work

Find out about the University of Bristol's MSc in Social Work, including structure, entry requirements and career prospects.

MSc Social Work Research

Find out about the University of Bristol's MSc in Social Work Research, including structure, entry requirements and career prospects.

MSc Society, Politics and Climate Change

Find out about the University of Bristol's MSc in Society, Politics and Climate Change, including structure, entry requirements and career prospects.

MSc Socio-Legal Studies

Find out about the University of Bristol's MSc in Socio-Legal Studies, including structure, entry requirements and career prospects.

MSc Sociology

Find out about the University of Bristol's MSc in Sociology, including structure, entry requirements and career prospects.

MSc Stem Cells and Regeneration

Msc stem cells and regeneration (online), msc strategy, change and leadership.

Find out about the University of Bristol's MSc and PGCert in Strategy, Change and Leadership, including structure, entry requirements and career prospects.

MSc Sustainable Engineering

Msc teaching and learning for health professionals, msc teaching english to speakers of other languages (tesol).

Find out about the University of Bristol's MSc in Teaching English to Speakers of Other Languages, including structure, entry requirements and career prospects.

MSc Technology Innovation and Entrepreneurship

Find out about the University of Bristol's MSc in Technology Innovation and Entrepreneurship, including structure, entry requirements and career prospects.

MSc Translational Cardiovascular Medicine

Find out about the University of Bristol's MSc, PGCert and PGDip in Translational Cardiovascular Medicine, including structure and entry requirements.

MSc Translational Cardiovascular Medicine (Online)

Msc volcanology, msc water and environmental management.

Find out about the University of Bristol's MSc in Water and Environmental Management, including structure, entry requirements and career prospects.

MSc Wireless Communications and Signal Processing

Find out about the University of Bristol's MSc in Wireless Communications and Signal Processing, including structure, entry requirements and career prospects.

Find out about the University of Bristol's PhD in Music, including entry requirements, supervisors and research groups.

Oral and Dental Sciences

Find out about the University of Bristol's PhD in Oral and Dental Sciences, including entry requirements, supervisors and research groups.

PG Certificate (Postgraduate Certificate) Clinical Neuropsychology Practice

Find out about the University of Bristol's Postgraduate Certificate in Clinical Neuropsychology Practice, including structure and career prospects.

PG Certificate (Postgraduate Certificate) Clinical Oral Surgery

Find out about the University of Bristol's Postgraduate Certificate in Clinical Oral Surgery, including structure, entry requirements and career prospects.

PG Certificate (Postgraduate Certificate) Clinical Perfusion Science

Pg certificate (postgraduate certificate) healthcare improvement, pg certificate (postgraduate certificate) healthcare improvement (online), pg certificate (postgraduate certificate) perfusion science, pg diploma (postgraduate diploma) applied neuropsychology, pg diploma (postgraduate diploma) applied neuropsychology (bristol-based), pg diploma (postgraduate diploma) applied neuropsychology (distance learning), pg diploma (postgraduate diploma) applied neuropsychology (online), pg diploma (postgraduate diploma) clinical neuropsychology.

Find out about the University of Bristol's Postgraduate Diploma in Clinical Neuropsychology, including structure, entry requirements and career prospects.

PG Diploma (Postgraduate Diploma) Orthodontic Therapy

Pg diploma (postgraduate diploma) philosophy, pg diploma (postgraduate diploma) theoretical and practical clinical neuropsycho, pg diploma (postgraduate diploma) theoretical and practical clinical neuropsychology.

Find out about the University of Bristol's PG Diploma in Theoretical and Practical Clinical Neuropsychology, including structure and entry requirements.

PGCE Education (Secondary)

Find out about the University of Bristol's PGCE in Education (Secondary) including structure, entry requirements and career prospects.

PhD Accounting and Finance

Phd advanced composites, phd advanced quantitative methods, phd aerosol science, phd aerospace engineering, phd anthropology and archaeology, phd biochemistry, phd biological sciences, phd cellular and molecular medicine, phd chemistry, phd civil engineering, phd classics and ancient history, phd comparative literatures and cultures, phd computational statistics and data science: compass, phd computer science, phd creative writing, phd cyber security (tips at scale), phd digital health and care, phd disability studies, phd dynamic molecular cell biology (wellcome trust), phd earth sciences, phd east asian studies, phd economics, phd education, phd electrical and electronic engineering, phd engineering mathematics, phd english literature, phd exercise, nutrition and health, phd film and television, phd geographical sciences (human geography), phd geographical sciences (physical geography), phd global political economy, phd great western four+ doctoral training partnership (nerc), phd health and wellbeing, phd hispanic, portuguese and latin american studies, phd history, phd history of art, phd innovation and entrepreneurship, phd integrative cardiovascular science (bhf), phd interactive artificial intelligence, phd italian, phd management, phd mathematics, phd mechanical engineering, phd medieval studies, phd molecular, genetic and lifecourse epidemiology (wellcome), phd oral and dental sciences, phd philosophy, phd physics, phd physiology, pharmacology and neuroscience, phd politics, phd population health sciences, phd psychology, phd quantum engineering, phd religion and theology, phd robotics and autonomous systems, phd russian, phd security, conflict and human rights, phd social policy, phd social work, phd sociology, phd south west biosciences doctoral training partnership (bbsrc), phd south west doctoral training partnership (esrc), phd sustainable futures, phd technology enhanced chemical synthesis, phd theatre and performance, phd translation, phd translational health sciences, phd veterinary sciences.

Find out about the University of Bristol's PhD in Philosophy, including entry requirements, supervisors and research groups.

Find out about the University of Bristol's PhD in Physics, including entry requirements, supervisors and research groups.

Physiology, Pharmacology and Neuroscience

Find out about the University of Bristol's PhD in Physiology, Pharmacology and Neuroscience, including entry requirements, supervisors and research groups.

Find out about the University of Bristol's PhD in Politics, including key themes and entry requirements.

Population Health Sciences

Find out about the University of Bristol's PhD in Population Health Sciences, including entry requirements, career prospects and research groups.

Practice-Oriented Artificial Intelligence

Quantum information science and technologies, religion and theology.

Find out about the University of Bristol's PhD in Religion and Theology, including structure, entry requirements and supervisors.

Find out about the University of Bristol's PhD in Russian, including entry requirements, supervisors and research groups.

Social Policy

Find out about the University of Bristol's PhD in Social Policy, including entry requirements, supervisors and research groups.

Social Work

Find out about the University of Bristol's PhD in Social Work, including entry requirements, supervisors and research groups.

Find out about the University of Bristol's PhD in Sociology, including entry requirements, supervisors and research groups.

Sociotechnical Futures and Digital Methods

Find out about the University of Bristol's PhD in Sociotechnical Futures and Digital Methods, including entry requirements, supervisors and research groups.

South West Biosciences Doctoral Training Partnership (BBSRC)

Find out about the University of Bristol's South West Biosciences Doctoral Training Partnership, including structure and entry requirements.

Sustainable Futures

Find out about the University of Bristol's PhD in Sustainable Futures, including entry requirements, supervisors and research groups.

Technology Enhanced Chemical Synthesis

Find out about the University of Bristol's PhD in Technology Enhanced Chemical Synthesis, including entry requirements, supervisors and research groups.

Theatre and Performance

Find out about the University of Bristol's PhD in Theatre and Performance, including entry requirements, supervisors and research groups.

Translation

Find out about the University of Bristol's PhD in Translation, including entry requirements, supervisors and research groups.

Translational Health Sciences

Find out about the University of Bristol's PhD in Translational Health Sciences, including entry requirements, supervisors and research groups.

Veterinary Sciences

Find out about the University of Bristol's PhD in Veterinary Sciences, including entry requirements, research groups and career prospects.

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Postgraduate Study - PhD and Research Degrees

• Postgraduate Research home

Research topics and degrees

Our research focuses around the following themes: 

• Asset pricing
• Corporate finance

Applied Financial Econometrics

• Market-Based Research

Research in the Business School

View 2024 Entry

How to apply

Apply online

Ask a question

Web: Enquire online

Phone: +44 (0)1392 72 72 72

Web: Enquire online Phone: 0300 555 6060 (UK) +44 (0)1392 723044 (non-UK)

Study at the UK Business School of the Year

Times Higher Education Awards 2022

Opportunities to learn from experts in the field of sustainable and responsible finance

One of a select group of universities worldwide with CFA® Institute ‘University Affiliation Program’ status

Research overview

As a PhD student in Finance, you will work with and learn from our inspirational and diverse faculty of leading researchers.

You can find out about potential topics for PhD research that our faculty are offering on the Business School webpages.

You can also find out more about the department’s faculty  here

Asset Pricing

• Option Pricing
• Cost of Capital
• Firm Valuation
• Volatility Models
• Mutual Funds Return Predictability

Corporate Finance

• Executive Compensation
• Corporate Governance
• Corporate Social Responsibility
• Venture Capital
• Private Equity and Entrepreneurship
• Corporate Governance in Emerging Markets
• Cash Holdings and Payout Policies
• Risk measurement
• Portfolio management
• Asset allocation
• Quantitative trading strategies
• Modelling asset price dynamics
• Modelling exchange rates and commodities

Market-Based Account Research

• Firm fundamentals and stock returns
• Equity valuation and accounting conservatism
• Implied cost of capital
• Macro-economy/Political economy
• Firm fundamentals.

Entry requirements

To be considered, PhD applicants need to meet the following entry requirements:

• A good undergraduate degree (in the UK, at least an upper second class honours) in a relevant subject
• A taught Masters degree in a relevant subject

If you're interested in studying for an MPhil/PhD in Economics but don't already have a Master's degree, please take a look at our MRes Economics programme.

If you are an international student, please visit our international equivalency pages to enable you to see if your existing academic qualifications meet our entry requirements.

English language requirements

International students need to show they have the required level of English language to study this course. The required test scores for this course fall under Profile B2: view the required test scores and equivalencies from your country .

Please note: In order to submit an application you must have had a prior dialogue with an academic at the University who is interested in supervising your research. Full details below:

We consider applications to our PhD programmes three times a year:

• 31 st January
• 30 th September

Application Documents

To be considered for our PhD programme, you need to submit the following documents by either of the above deadlines (incomplete applications will not be considered):

• A research proposal that you have developed with a potential supervisor (no more than 2000 words)
• A letter from this potential supervisor stating that they are willing to supervise you
• A personal statement that explains why you wish to complete your PhD in our department and why you think you are well suited to this programme of study (no more than 600 words)
• Academic transcripts from your relevant studies to date (see entry requirements below)
• Two academic letters of reference from teaching staff at your previous institutions
• If necessary, evidence of English language ability (see entry requirements below)
• If you have them, results from a GMAT or GRE test that are not more than 5 years old.

Preparing your Proposal

You cannot apply until a member of faculty has stated that they are willing to supervise you and provided you with a letter to this effect. To achieve this, you will need to initiate contact with faculty who are working on topics that you are interested in and present them with a proposal of no more than 2000 words.

To find a potential supervisor, refer to the Supervision section, below.

We recommend that you start this process 3 months before the application deadline. There are three possible outcomes to this process: (1) potential supervisors state that they are willing to supervise you, (2) potential supervisors request further revisions on your proposal or (3) they are unable to provide supervision.

Applicants will be invited to interview with a panel who will assess their application. Applicants who cannot provide results from the GMAT or GRE will be asked to complete an online psychometric test.

Fees and funding

Tuition Fees per year 2024/25

• Home : £4,786 full-time;   £pro-rata part-time
• International : £22,600 full-time

For those studying for more than one year, our fees are expected to increase modestly in line with Consumer Price Inflation measured in December each year. More information can be found on our   Student Finance webpages .

Fees 2023/24

Tuition fees per year 2023/24

• Home : £4,712 full-time;   £pro-rata part-time
• International : £20,600 full-time

Current funding opportunities

The Business School offers a generous range of scholarships and bursaries for postgraduate students. In previous years funding has been available through a number of scholarships including Distinction Scholarships, Thomson Reuters Scholarships and Excellence Scholarships.

Funding opportunities are subject to change, so for the latest information we recommend searching  our funding database .

Current available funding

Supervision.

You can expect:

• High-quality research supervision to develop and nurture your potential
• A tailored supervision approach to help best suit your requirements
• Accessible supervisors who are enthusiastic about working directly with postgraduate research students
• Regular timetabled meetings with your supervisor
• 'Open door' policy to all postgraduate students - instant access to world-leading researchers who will share their expertise and ideas with you
• Regular meetings with your supervisory team, other members of your research group, and mentors

You will only be able to apply for a PhD when you have received a letter from potential supervisors stating that they are willing to supervise your PhD thesis. You therefore need to initiate contact with faculty who are working on topics that you are interested in and present them with a proposal of no more than 2000 words. To find a potential supervisor, please click on the link below.

›  Find a PhD supervisor

Your future: your training needs

The skills and expertise that you build now are fundamental to your continuing professional development (CPD), and will be part of your toolset throughout your working life, whether academic or elsewhere. We’re also very keen that you should consider taking part in the University's  Postgraduate Researchers' Programme  which offers training in a wide range of generic and transferable skills in key areas such as research management, personal effectiveness, communication skills, networking, team-working, and career management.

It’s great if you can enter the programme with research training and experience of research at Masters level, but we don’t expect you to be the finished article. You’ll get together straight away with your supervisor to identify your training needs, and you’ll both monitor and adapt them as your research develops and new challenges emerge. In the first year of your PhD study the appropriate department(s) in the Business School will specify discipline and subject-specific training which may be methods training, research philosophy, or thematic modules to upgrade your knowledge of the subject. You may be asked simply to attend some modules; you may be required to pass others that are vital to your doctoral studies. You’ll also need to attend staff-postgraduate seminars addressed by visiting speakers and School staff and you’ll present your research to fellow students and academic staff at our annual research conference or a similar event. This is a key opportunity to get feedback from staff and fellow students on your research, as well as giving you the chance to enhance your presentation skills. Successful presentation is a criterion of upgrade from MPhil to PhD status

External training experiences

We can source most training requirements within the University of Exeter, but where this is not feasible, for instance on specialist software, or cutting-edge methods or techniques vital to your studies, we work with partner organisations like research councils, professional associations and training companies to provide external training. 

You need to be able to communicate your research clearly and effectively to a variety of audiences, and we encourage doctoral students to present their work to external audiences at seminars, symposia and conferences. Each student is allocated a yearly allowance for professional development.

When do I get started?

You should enter your doctoral programme in October at the start of the academic year if at all possible. This is when taught modules commence within the School, as does the University’s research training programme and the widest array of training courses. After the training-needs assessment with your supervisor you may be asked to attend one or more first semester modules commencing in October and, if the training is deemed essential to your programme, this may be a requirement for any offer of a place. October is also the start of the academic year for all students, with a formal induction programme as well as a vibrant calendar of events, and you’ll definitely benefit socially if you start your studies with other new students.

Employment opportunities

The Business School provides research students with many opportunities to develop skills in teaching, and other academic and non-academic employment, and actively supports students who wish to take on ad-hoc or part time work during their studies.

The School has a  Code of Practice for Employment of PGR students  which complements the University's central  Code of Good Practice for the Employment of Postgraduate Students . Students who wish to undertake work during their studies must ensure they read both the School Code and the University Code before commencing any duties.

Skills training

The skills and expertise that you build now are fundamental to your continuing professional development (CPD), and will be part of your toolset throughout your working life.

We strongly recommend that our students take part in the University's  Postgraduate Researchers' Programme , which offers training in skills such as:

• research management
• personal effectiveness
• communication
• team-working
• career management

Working while studying

The Business School provides research students with many opportunities to develop skills in teaching, as well as other forms of employment (both academic and non-academic). We actively support students who wish to take on ad-hoc or part time work during their studies.

The School has a Code of Practice for Employment, which complements the University's central  Code of Good Practice for the Employment of Postgraduate Students . If you wish to undertake employment during your studies, you must ensure that you read both the School Code and the University Code before commencing any duties.

Further information

• Postgraduate Study careers
• University of Exeter Doctoral College career development

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Winners of Student Art & Photography Competition 2024 are announced

Annual competition showcases students’ creative skills.

The winners and runners-up in the 2024 St John’s College Student Art and Photography Competition have been announced.

Submissions in the form of photographs, paintings, drawings, prints, sculpture, ceramics, textiles, jewellery and digital films were invited for the competition, which was open to all Junior Members of College in residence, with prizes of up to £200 up for grabs.

The competition closed at the end of April and the 59 entries have now been judged anonymously by a panel comprising St John’s Fellows Richard Partington, Senior Tutor, Professor Deborah Howard, Professor Emerita of Architectural History, and Dr Sofia Singler, Assistant Professor of Architecture and College Lecturer in Architecture.

In the Fine and Applied Art – Paintings, Drawings or Prints section, the winner is Audrey Chan, a PhD student in English, for In the Mood for Love . Undergraduates Ryan Vowles and Emilio Hogan were both highly commended – Ryan, a second year in Natural Sciences, for Alice in Costume, and Emilio, who is a third-year History of Art student, for Portrait of Anja .

Third-year Architecture undergraduate Archie Maton wins first prize in the Sculpture or Work of Applied Arts section of the Fine and Applied Art category for Skeletal Forms while Isabella Bottle, a third-year in History, is highly commended for Seeing Through .

No prizes were awarded in the Digital Film section of this category.  

In the Photography – Black and White category, first place goes to PhD student chemist Benjamin Craig for Alone on the Rocks while fellow PhD students Dominque Goddard (Classics) and Leopold Kloyer (Chemical Engineering) are both highly commended: Dominque for Surveillance and Leopold for Balancing Act .

Leopold Kloyer is winner in the Colour Photography category for Hungry Monster and three students are highly commended: third-year Engineering undergraduate Edward Brewer for Scottish Winter Mountaineering , Millie May, a third-year Politics and Social Anthropology undergraduate, for The Spice Spectrum and Dominque Goddard for Charlie.

In the College or College Life photography group, Lisa Fenner, a PhD student in Politics and International Studies, takes top prize for Chapel in the Rain while Leopold Kloyer is highly commended for two photos, College Sentinel and Perspectives .

The winning and highly commended entries have been approved by College Council. The winners in the three photography categories win £100 each while £200 each goes to the two first-placed students in the Fine and Applied Arts section.

All the entries can be viewed in the Exhibition area of the Library between 9am and 5pm weekdays until 5pm on Thursday 13 June 2024.

* Note: Image copyright remains with the artist/photographer of each entry.

Published 23/5/2024

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Posted: 22-May-24

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Ursuline College is an Equal Opportunity Employer committed to diversity and is focused on hiring from groups traditionally underrepresented in higher education, with the goal of increasing its diversity among faculty and staff.  Nearly one third of the students at Ursuline are members of historically underrepresented communities.  The college seeks to become a more diverse and inclusive place of learning, building a sense of community for all.