oxford economics phd placement

Job Market Candidates 2023-24

Job Market Candidates

Alexander Haas

I am a macroeconomist, working on topics in monetary economics and macro-finance. In my research...

Ayden Higgins

My research mainly focuses on panel data econometrics, particularly factor models, spatial models...

My research examines questions on technology adoption and de-globalization. Particularly, my focus...

Christophe Gaillac

I am an econometrician dedicated to improving microeconomic analysis and decision making using...

Julian Winkler

I study distributions of economic data, with particular interest in understanding heavy-tailed...

Marta Golin

I am an applied microeconomist with research interests at the intersection of labour economics...

Ryan Rholes

I use empirical and experimental methods to study monetary policy and central bank communication...

Tom Schwantje

My research examines heterogeneity in organisational and institutional practices in low-income...

Vatsal Khandelwal

I am an applied microeconomist who uses theoretical, experimental, and structural methods to study...

Further information and Department contacts

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Oxford Economics is the world's foremost independent economic advisory firm, and we are always looking for top talent to join our expanding team. View our current jobs, placements, and graduate schemes below.

We are always seeking top talent to join our successful teams of innovators, economists and business and thought leaders. As a member of our team, you will be an integral part of our global growth plans and would join a world-class company at the forefront of our industry. You will have the opportunity to collaborate with professionals from various backgrounds and countries. You will contribute to a culture that is focused on diversity, inclusion and development.

Roles at Oxford Economics

Our core values are excellence, collaboration, passion and curiosity. Our people are our most valued assets which is why we always aim to provide a great environment for our teams.

Experienced Economist

We are looking for economists with significant previous experience and the ambition to develop their careers. Do you have excellent analytical, quantitative and communication skills? Are you able to communicate complex issues in a clear and concise way? Do you have demonstrated interest in data analysis, economic development and public policy?

Technology plays a vital role for us, our team is driving growth through sector-leading data tools and models designed to be user friendly, as well as the creation and deployment of digital experiences across touchpoints. Are you skilled in modern, agile web development, data analytics and visualisation or global IT security and delivery services?

Sales & Marketing

As we expand our global operations, we have positions available for sales and marketing professionals. Are you knowledgeable about global economics and business? Do you have a proven track record in selling subscription services and research? Do you have marketing & communication skills and experience in promoting services and products?

Develop your skills and kickstart your career with one of our early career programmes which, expands across graduate schemes, apprenticeships and placements.

Current vacancies

Browse our current vacancies and apply for roles.

Economist/Senior Economist – EMEA Macro Consulting

Software engineer – ai integration (remote), research executive – tourism economics, economist – scenarios & macro modelling, head of design – consulting & research, associate director – emea macro consulting, economist – industry consulting, associate director – public relations, marketing manager – americas, client relationship executive, canada, business development manager, canada, 2025 australia graduate program.

Application deadline: 30/04/2025

Praktikum – Economic Impact Consulting

Account executive – dach, lead economist – economic impact consulting (berlin or frankfurt), account management intern, frankfurt, business development intern, frankfurt, business development executive – southeast asia, business development internship – economic consulting (singapore).

1 out of 10

“I find working at Oxford Economics very rewarding, partly because close collaboration between our global teams allows for continuously developing new skills. Finding answers to complex problems contributes to the fulfilling work experience, as does delivering innovative solutions to clients across the world.”

Cobus de Hart, Director of Africa Consulting

2 out of 10

“I started my career as a graduate economist in 2008. Since then, I have had the opportunity to work across teams and have progressed in my career. The company has grown considerably during my time here, offering the opportunity to do collaborative research on emerging topics such as robotics and climate change.”

Abby Samp, Associate Director, Industry Subscription Services

3 out of 10

“Since joining Oxford Economics 4 years ago, I have had countless opportunities to develop my career as a professional economist. Every day we tackle a different subject, and the projects are varied and interesting. Having the opportunity to apply my knowledge beyond the textbooks has been invaluable in building an understanding of ‘real-world’ economics, and Oxford Economics has provided the perfect environment to explore new concepts and grow as an economist.”

George Bowen, Senior Economist, Cities Subscription Services

4 out of 10

“At Oxford Economics, I have the opportunity to thrive as an economist in a global environment that combines rigor and expertise with a collegial atmosphere. Being able to help our clients navigate this ever-changing economic landscape is the most rewarding part.”

Lydia Boussour, Lead Economist

5 out of 10

“Working at Oxford Economics is a truly global experience. Based in Greater China, I regularly work with our team of economists from across Asia and all other continents. It’s exciting to work on research that matters the most to our diversified clientele. I find the experience at OE really rewarding.”

Tommy Wu, Lead Economist

6 out of 10

“What I like the most about working at Oxford Economics is the opportunity every day to collaborate with a global team of expert researchers, economists and data analysts on important studies that can help people make better decisions about the future.”

Debra D'Agostino, Managing Director

7 out of 10

“I have been lucky to spend my entire career at Oxford Economics, where the flexible environment has provided continuous opportunities for learning and growth. Projects are interesting and relevant, and friendly colleagues are always willing to help.”

Amy McAlister, Lead Economist for EMEA Macro Consultancy

8 out of 10

“My time as a graduate economist at Oxford Economics has been an interesting and all-round positive experience. As the teams are small, I have worked alongside and learnt from experienced, senior colleagues from my first day. Furthermore, contributing to client deliverables on a daily basis has made me feel valued.”

Andrew Graham, Graduate Economist

9 out of 10

“The BIS Oxford Economics graduate programme has been an excellent environment to start my career in economics. The trust placed in grads to make a contribution to a range of tasks as varied as hosting webinars, publishing materials and contributing to the development of my team’s offerings from day one has meant that there’s never been a boring moment.”

Michael Dyer, Economic Analyst

10 out of 10

“Very exciting to have been interviewed by the Economic Review and published in their magazine for A Level students. Was nice to share my experience of my placement year at Oxford Economics and encourage others to undertake a placement year themselves.”

Morgan Ansell, Placement Student

Oxford Economics believes that to be the world leader in global economic forecasting and quantitative analysis, we need to provide a great place to work for our team to thrive – that’s the difference between a good company and a great company.

Women+ Network

Oxford Economics Women+ celebrates and fosters the progression of women at Oxford Economics. We run regular events to build social and professional connections, develop mentorship opportunities and learn from each other. The network sits within OE’s broader Diversity and Inclusion initiative, and advocates for women within the company and beyond by supporting outreach and diverse recruitment at all levels.

Gender Pay Gap Report

Our Gender Pay Gap Report for the UK, based on data from April 2023 is now available to download. This includes:

An analysis of Oxford Economics UK workforce.
Oxford Economics’ gender pay gap report.
Statutory disclosures.
An analysis of Oxford Economics gender pay gap data.
Actions taken by Oxford Economics to improve gender diversity, equity, and inclusion.

The perks of joining Oxford Economics include more than working with top talent, we take care of our teams and their wellbeing by providing them with a comprehensive benefit package*. We’re looking to support you and help you maintain a healthy work-life balance. You can expect to benefit from private health care, flexible working and advantageous childcare policies.

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MPhil + DPhil in Economics

Entry requirements
Funding and Costs

College preference

How to Apply

About the course

The Department of Economics offers an integrated MPhil-DPhil (PhD) in Economics. Students admitted to the joint MPhil + DPhil in Economics will first complete the two-year MPhil in Economics and then (subject to satisfactorily passing) automatically progress to the three- to four-year DPhil in Economics .

If you intend on studying the MPhil followed by the DPhil in Economics at Oxford, and if you have had substantial economics training and exceptional results in your prior studies, this is the right programme for you. Automatically progressing from MPhil to DPhil (subject to satisfactorily passing) reduces the uncertainty regarding the transition from MPhil to DPhil.

A DPhil at Oxford is the equivalent to a PhD at most other institutions. The structure of the MPhil + DPhil programme is similar to that of the integrated five-year PhD (sometimes called MRes-PhD) at leading economics graduate schools worldwide.

Students who have experience in graduate work in economics or related fields, or for example have completed the MSc in Economics for Development may wish to apply directly to the DPhil in Economics.

MPhil + DPhil students will join one or more of the department's research groups, becoming part of a vibrant educational research community with an active set of doctoral student-led events, seminars and conferences. You will have opportunities to present your work at a variety of seminars and sessions in the department.

To enable the new joint programme to offer more rigour and exposure to the research frontier for future DPhil students, the department has made the MPhil programme more flexible.

The first year of the MPhil in Economics programme starts with a non-examined preparatory course in mathematical methods. The first two terms of the academic year focus on three compulsory courses in the central areas of microeconomics, macroeconomics and econometrics. The three courses are offered on two levels. Though most MPhil students will take the courses on the "core" level, MPhil + DPhil students will be expected to take one or more of the three courses at the "advanced" level in the first year and to take additional advanced courses in the second year. In the third term of the first year, you will choose from two entirely new courses in Empirical Research Methods and Further Mathematics Methods. These courses will provide the specialised skills needed for academic or non-academic careers in our data-rich world and the technical tools for research in economics.

Second year

In the second year, you will take four option courses. The option courses build on the first-year training and provide deeper and broader training in your areas of interest. You can take advanced-level courses in macroeconomics, microeconomics, econometrics and empirical research methods covering recent developments in theory and analytical techniques. Other option courses are designed to develop knowledge and understanding of theory, empirical techniques and debates within specialist fields of economics. These include behavioural economics, development economics, economic history, financial economics, international trade, labour economics and public economics.

The second important component of the second year is the required thesis, supervised by a member of the department.

In order to progress to the DPhil element of this course, you will be required to satisfactorily pass the MPhil element first.

You will then start the DPhil as a Probationer Research Student (PRS). You may take additional courses from the MPhil menu to deepen and broaden your economic training, while starting to work on your first research project. The PRS status allows for a smooth transition from learning about economic research to producing new economic insights yourself.

Supervision

The allocation of graduate supervision for this course is the responsibility of the Department of Economics and 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 Department of Economics.

The three compulsory core courses in microeconomics, macroeconomics and econometrics are examined before the start of the third term of the first year of the MPhil.

The required thesis is an important component of the second year of the MPhil, and is supervised by a member of the department. The thesis is usually expected to contain some original research. It can be incorporated into a DPhil thesis.

You will receive numerical grades for your thesis and for each option course. Based on these grades and those for the first year courses, the examiners may award an overall pass grade, a pass with merit or a pass with distinction for the course. There is a prize for the best thesis and a prize for the best overall performance in written papers.

Once you have satisfactorily passed and completed the MPhil component, you will normally be admitted to the DPhil as a Probationer Research Student. You are first required to transfer to DPhil status. The Transfer of Status requires the completion of the Qualifying Examinations, necessary coursework, and an interview with two assessors appointed by the department, at which you will present an outline of your proposed thesis and a piece of written work relevant to the thesis. The transfer is normally expected to be completed by the end of the fourth term, and no later than six terms from admission to Probationer Research Student status. In exceptional circumstances, the department may waive the requirement for Transfer of Status and students may progress directly to DPhil status.

Upon a successful transfer to DPhil status, you will be required to confirm your DPhil status no later than nine terms after admission to Probationer Research Student status. Candidates for Confirmation of Status are required to present a research paper at a workshop or seminar, present a detailed outline of the complete thesis and some complete draft chapters, and will be interviewed by an assessor.

The award of the DPhil degree is based on a thesis of not more than 100,000 words in length. It should constitute a significant and substantial piece of research, of a kind which might reasonably be expected of a diligent and competent student in three years of full-time study. The maximum time allowed for completion of the DPhil degree is four years. Extensions can be granted if required.

Graduate destinations

The interests and strengths of the department's doctoral students are many and diverse and this is reflected in the positions they take up after graduation: most take up tenure track or postdoc positions in academia; others find employment in government, international organisations, or the private sector. The international reputation of Oxford’s doctoral programme also means that its DPhil graduates can be found making a contribution in many different parts of the world.

The department recognises the importance of helping doctoral students find suitable employment and its placement efforts are directed by a senior member of the faculty. The department provides advice and help on all aspects of the job application process, including limited financial assistance to cover expenses.

Changes to this course and your supervision

The University will seek to deliver this course in accordance with the description set out in this course page. However, there may be situations in which it is desirable or necessary for the University 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. In addition, 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 page on changes to courses and the provisions of the student contract regarding changes to courses.

Entry requirements for entry in 2024-25

Proven and potential academic excellence.

The requirements described below are specific to this course and apply only in the year of entry that is shown. You can use our interactive tool to help you evaluate whether your application is likely to be competitive .

Please be aware that any studentships that are linked to this course may have different or additional requirements and you should read any studentship information carefully before applying.

Degree-level qualifications

As a minimum, applicants should hold or be predicted to achieve the following UK qualifications or their equivalent:

a first-class or strong upper second-class undergraduate degree with honours in economics.

Applicants must demonstrate a strong quantitative preparation.

Candidates with a first degree in another related discipline should demonstrate how their academic background prepares them for graduate study in economics.

For applicants with a degree from the USA, a cumulative GPA sought of at least 3.7 out of 4.0 is expected.

GRE General Test scores

If you do not hold, or will not shortly hold, a UK or Republic of Ireland undergraduate or postgraduate degree, you must submit the results of a GRE Test obtained within the last 5 years. However, we recommend that applicants from UK and Republic of Ireland universities also submit a GRE score. Entrance is very competitive, and most successful applicants have a GRE score of at least 160 for verbal, 164 for quantitative and 4.5 for analytical.

Other qualifications, evidence of excellence and relevant experience

All candidates are expected to have working knowledge in one programming language (of the candidate’s choice) at the start of the MPhil. The department will provide advice to accepted candidates on how to acquire such knowledge.

Publications are not expected.

English language proficiency

This course requires proficiency in English at the University's higher level . If your first language is not English, you may need to provide evidence that you meet this requirement. The minimum scores required to meet the University's higher level are detailed in the table below.

*Previously known as the Cambridge Certificate of Advanced English or Cambridge English: Advanced (CAE) † Previously known as the Cambridge Certificate of Proficiency in English or Cambridge English: Proficiency (CPE)

Your test must have been taken no more than two years before the start date of your course. Our Application Guide provides further information about the English language test requirement .

Declaring extenuating circumstances

If your ability to meet the entry requirements has been affected by the COVID-19 pandemic (eg you were awarded an unclassified/ungraded degree) or any other exceptional personal circumstance (eg other illness or bereavement), please refer to the guidance on extenuating circumstances in the Application Guide for information about how to declare this so that your application can be considered appropriately.

You will need to register three referees who can give an informed view of your academic ability and suitability for the course. The How to apply section of this page provides details of the types of reference that are required in support of your application for this course and how these will be assessed.

Supporting documents

You will be required to supply supporting documents with your application. The How to apply section of this page provides details of the supporting documents that are required as part of your application for this course and how these will be assessed.

Performance at interview

Interviews are not normally held as part of the admissions process.

How your application is assessed

Your application will be assessed purely on your proven and potential academic excellence and other entry requirements described under that heading.

References and supporting documents submitted as part of your application, and your performance at interview (if interviews are held) will be considered as part of the assessment process. Whether or not you have secured funding will not be taken into consideration when your application is assessed.

An overview of the shortlisting and selection process is provided below. Our ' After you apply ' pages provide more information about how applications are assessed .

Shortlisting and selection

Students are considered for shortlisting and selected for admission without regard to age, disability, gender reassignment, marital or civil partnership status, pregnancy and maternity, race (including colour, nationality and ethnic or national origins), religion or belief (including lack of belief), sex, sexual orientation, as well as other relevant circumstances including parental or caring responsibilities or social background. However, please note the following:

socio-economic information may be taken into account in the selection of applicants and award of scholarships for courses that are part of the University’s pilot selection procedure and for scholarships aimed at under-represented groups ;
country of ordinary residence may be taken into account in the awarding of certain scholarships; and
protected characteristics may be taken into account during shortlisting for interview or the award of scholarships where the University has approved a positive action case under the Equality Act 2010.

Processing your data for shortlisting and selection

Information about processing special category data for the purposes of positive action and using your data to assess your eligibility for funding , can be found in our Postgraduate Applicant Privacy Policy.

Admissions panels and assessors

All recommendations to admit a student involve the judgement of at least two members of the academic staff with relevant experience and expertise, and must also be approved by the Director of Graduate Studies or Admissions Committee (or equivalent within the department).

Admissions panels or committees will always include at least one member of academic staff who has undertaken appropriate training.

Other factors governing whether places can be offered

The following factors will also govern whether candidates can be offered places:

the ability of the University to provide the appropriate supervision for your studies, as outlined under the 'Supervision' heading in the About section of this page;
the ability of the University to provide appropriate support for your studies (eg through the provision of facilities, resources, teaching and/or research opportunities); and
minimum and maximum limits to the numbers of students who may be admitted to the University's taught and research programmes.

Offer conditions for successful applications

If you receive an offer of a place at Oxford, your offer will outline any conditions that you need to satisfy and any actions you need to take, together with any associated deadlines. These may include academic conditions, such as achieving a specific final grade in your current degree course. These conditions will usually depend on your individual academic circumstances and may vary between applicants. Our ' After you apply ' pages provide more information about offers and conditions .

In addition to any academic conditions which are set, you will also be required to meet the following requirements:

Financial Declaration

If you are offered a place, you will be required to complete a Financial Declaration in order to meet your financial condition of admission.

Disclosure of criminal convictions

In accordance with the University’s obligations towards students and staff, we will ask you to declare any relevant, unspent criminal convictions before you can take up a place at Oxford.

With more than 60 academics in permanent posts and 30+ postdoctoral research fellows, the Economics department is a large and vibrant international community of researchers. In the 2021 REF, Oxford was ranked first in terms of overall research ‘power’ and funding market share.

The department hosts research centres such as the Centre for the Study of African Economies (CSAE), which is internationally recognised as a hub for innovative research and outreach to the academic and policy-making communities world-wide through their seminars, workshops and annual conferences.

Within the department, specialised research groups play a key role in bringing together faculty and graduate students working in particular sub-fields, supporting and mentoring our doctoral students and postdoctoral research fellows, and promoting research of the highest international standard. The research groups provide an important interface between research centres and the department, for example econometrics and the INET programme on Economic Modelling (EMOD); development economics and CSAE. Other research groups facilitate collaboration across departments, as in the case of the economic history group and economic historians in the Faculty of History. Each research group runs a regular seminar series with external presenters, plus a more informal workshop in which members, including DPhil students, present their research in progress.

Students can access a range of internship programmes through the University Careers Office as well as the RCUK Policy Internship scheme for ESRC-funded students. In addition, the Bank of England and Goldman Sachs each provide a short summer internship for a doctoral student specialising in macroeconomics or finance and the Department of Economics is accredited by the Asian Development Bank to nominate candidates for their internship programme. In recent cohorts, students have benefited from an internship with organisations including the EBRD, European Central Bank, UK Home Office, as well as those identified above.

The Department of Economics is located in the Manor Road Building in central Oxford, alongside the Department of Politics and International Relations. The department contains faculty offices and open-plan workspaces for DPhil students and postdoctoral research, with access to Wi-Fi and print services. A BYOD (Bring Your Own Device) policy is in place within the Economics department, enabling you to access data shares, printing, software and for some, a full windows desktop via the department's Virtual Desktop environment. The Manor Road IT team support all IT-related infrastructure and systems within the department, including desktops, laptops and tablets, and all associated peripherals (printers, scanners, webcams etc) and software provision.

The Manor Road Building also houses the Bodleian Social Sciences Library, a first-class research library open to all members of the University. The SSL holds over 250,000 printed books, over 1,000 printed journal titles, as well as statistical publications, working papers, dissertations, pamphlets and reports. Online resources include almost 100,000 e-journals and an extensive collection of databases and archives in the social sciences. Graduate teaching and most seminars take place within the Manor Road Building, where there is also a cafeteria and common room for students' use.

Oxford's Department of Economics is one of Europe's leading research departments and its members include some of the world's most distinguished academic economists.

The department offers its community of around 300 graduate students a rigorous and relevant training in economics, providing a setting in which debate and research can flourish. The department’s graduate courses prepare students for a wide range of careers in academia, government and business.

The department is committed to excellence in teaching and the MPhil and DPhil in Economics are internationally recognised for the quality of the training provided. The University of Oxford is ranked 2nd in Europe in the most recent Tilburg University ranking of Economics departments, based on research contribution for the period between 2016-2020. In the 2021 Research Excellence Framework exercise, that evaluated research output of UK Universities, Oxford was first for overall research strength in Economics and Econometrics, with more research ranked as ‘world-leading’ than any other participating institution.

In a submission of 84 FTE academics, which was the largest number of researchers submitted in the Economics and Econometrics Unit of Assessment, 94% of the department's research output was assessed as ‘internationally excellent’ or ‘world-leading’ (3* or 4*). The scale and breadth of the Department’s research is a product of a vibrant and well-connected community, with particular attention on supporting early career researchers. The Department maintains world-class expertise in the core discipline areas of microeconomics, macroeconomics and econometrics, while building clusters of research strength in more specialist subfields – notably applied microeconomics; behavioural economics and game theory; the economics of climate change and sustainability; machine learning; economic history; development economics.

Oxford has one of the strongest, largest, and most varied groups of economists in the world. Our objective is to engage in innovative research that extends the frontiers of the discipline, deepening our understanding of the operation of modern economies. Research spans almost all the major sub-fields of economics with particular strengths in microeconomic theory, including behavioural economics; econometrics, both micro-econometrics and time series; economic history and development and international economics. Research activity is focused within smaller, specialised groups, with each group holding regular workshops at which research by faculty and graduate students is presented and discussed. Many distinguished researchers from outside Oxford also visit to present their work at seminars.

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The University expects to be able to offer over 1,000 full or partial graduate scholarships across the collegiate University in 2024-25. You will be automatically considered for the majority of Oxford scholarships , if you fulfil the eligibility criteria and submit your graduate application by the relevant December or January deadline. Most scholarships are awarded on the basis of academic merit and/or potential.

For further details about searching for funding as a graduate student visit our dedicated Funding pages, which contain information about how to apply for Oxford scholarships requiring an additional application, details of external funding, loan schemes and other funding sources.

Please ensure that you visit individual college websites for details of any college-specific funding opportunities using the links provided on our college pages or below:

Please note that not all the colleges listed above may accept students on this course. For details of those which do, please refer to the College preference section of this page.

Further information about funding opportunities for this course can be found on the department's website.

Annual fees for entry in 2024-25

During the first 2 years of the course you will be charged course fees at the MPhil in Economics fee rate. The fees for the first year are shown in the table below.

Annual MPhil in Economics (first year) fees for the 2024-25 academic year

Further details about fee status eligibility can be found on the fee status webpage.

In each subsequent year, you will be charged course fees at the relevant DPhil in Economics fee rate for that year of study. For an indication of costs, the table below shows the annual full-time DPhil course fees for the 2024-25 academic year.

Annual DPhil in Economics fees for study in the 2024-25 academic year

Information about course fees.

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). For courses lasting longer than one year, 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. Unless specified in the additional information section below, course fees do not cover your accommodation, residential costs or other living costs. They also don’t cover any additional costs and charges that are outlined in the additional information below.

Continuation charges

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.

Where can I find further information about fees?

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

Additional information

Mphil component.

There are no compulsory elements of this course that entail additional costs beyond fees and living costs. However, please note that, 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 these expenses.

DPhil component (indicative costs, based on study in the 2022-23 academic year)

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, please note that, 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 these expenses.

Living costs

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.

For the 2024-25 academic year, the range of likely living costs for full-time study is between c. £1,345 and £1,955 for each month spent in Oxford. Full information, including a breakdown of likely living costs in Oxford for items such as food, accommodation and study costs, is available on our living costs page. The current economic climate and high national rate of inflation make it very hard to estimate potential changes to the cost of living over the next few years. When planning your finances for any future years of study in Oxford beyond 2024-25, it is suggested that you allow for potential increases in living expenses of around 5% each year – although this rate may vary depending on the national economic situation. UK inflationary increases will be kept under review and this page updated.

Students enrolled on this course will belong to both a department/faculty and a college. Please note that ‘college’ and ‘colleges’ refers to all 43 of the University’s colleges, including those designated as societies and permanent private halls (PPHs).

If you apply for a place on this course you will have the option to express a preference for one of the colleges listed below, or you can ask us to find a college for you. Before deciding, we suggest that you read our brief introduction to the college system at Oxford and our advice about expressing a college preference . For some courses, the department may have provided some additional advice below to help you decide.

The following colleges accept students on the MPhil + DPhil in Economics:

Balliol College
Blackfriars
Brasenose College
Campion Hall
Corpus Christi College
Exeter College
Harris Manchester College
Hertford College
Jesus College
Keble College
Lady Margaret Hall
Linacre College
Magdalen College
Merton College
New College
Nuffield College
Pembroke College
The Queen's College
Reuben College
St Anne's College
St Catherine's College
St Cross College
St Hilda's College
St Hugh's College
St John's College
St Peter's College
Somerville College
Trinity College
University College
Wadham College
Wolfson College
Worcester College
Wycliffe Hall

Before you apply

Our guide to getting started provides general advice on how to prepare for and start your application. You can use our interactive tool to help you evaluate whether your application is likely to be competitive .

If it's important for you to have your application considered under a particular deadline – eg under a December or January deadline in order to be considered for Oxford scholarships – we recommend that you aim to complete and submit your application at least two weeks in advance . Check the deadlines on this page and the information about deadlines and when to apply in our Application Guide.

Application fee waivers

An application fee of £75 is payable per course application. Application fee waivers are available for the following applicants who meet the eligibility criteria:

applicants from low-income countries;
refugees and displaced persons;
UK applicants from low-income backgrounds; and
applicants who applied for our Graduate Access Programmes in the past two years and met the eligibility criteria.

You are encouraged to check whether you're eligible for an application fee waiver before you apply.

Do I need to contact anyone before I apply?

You do not need to make contact with the department before you apply but you are encouraged to visit the relevant departmental webpages to read any further information about your chosen course.

Completing your application

You should refer to the information below when completing the application form, paying attention to the specific requirements for the supporting documents .

If any document does not meet the specification, including the stipulated word count, your application may be considered incomplete and not assessed by the academic department. Expand each section to show further details.

Referees: Three overall, academic and/or professional

Whilst you must register three referees, the department may start the assessment of your application if two of the three references are submitted by the course deadline and your application is otherwise complete. Please note that you may still be required to ensure your third referee supplies a reference for consideration.

It is recommended that you provide three academic references, however the department will accept one professional reference of the three required overall.

Your references will support intellectual ability, academic achievement, and motivation.

Official transcript(s)

Your transcripts should give detailed information of the individual grades received in your university-level qualifications to date. You should only upload official documents issued by your institution and any transcript not in English should be accompanied by a certified translation.

More information about the transcript requirement is available in the Application Guide.

A CV/résumé is compulsory for this course. Most applicants choose to submit a document of one to two pages highlighting their academic achievements and any relevant professional experience.

Statement of purpose/personal statement: A maximum of 800 words

Your statement should be written in English and explain your motivation for applying for the course at Oxford, your relevant experience and education, and the specific areas that interest you and/or you intend to specialise in.

If possible, please ensure that the word count is clearly displayed on the document.

This will be assessed for:

your reasons for applying;
evidence of motivation for and understanding of the proposed area of study; and
the ability to present a reasoned case in English.

Written work: One essay of a maximum of 2,000 words

An academic essay or other writing sample from your most recent qualification, written in English, is required. An extract of the requisite length from longer work is also permissible. The written work should be related to the subject you propose to study.

The written work should be typed and in English. The word count does not need to include any bibliography or brief footnotes.

a comprehensive understanding of the subject area;
understanding of problems in the area;
ability to construct and defend an argument;
powers of analysis; and
powers of expression.

GRE General Test results

Start or continue your application

You can start or return to an application using the relevant link below. As you complete the form, please refer to the requirements above and consult our Application Guide for advice . You'll find the answers to most common queries in our FAQs.

Application Guide Apply

ADMISSION STATUS

Closed to applications for entry in 2024-25

12:00 midday UK time on:

Friday 19 January 2024 Latest deadline for most Oxford scholarships Final application deadline for entry in 2024-25

† Included in MPhil Economics and DPhil Economics places for 2024/25 *Two-year average (applications for entry in 2020-21 to 2022-23)

Further information and enquiries

This course is offered by the Department of Economics

Course page on the department's website
Funding information from the department
Academic and research staff
Departmental research
Social Sciences Division
Residence requirements for full-time courses
Postgraduate applicant privacy policy

Course-related enquiries

Advice about contacting the department can be found in the How to apply section of this page

✉ [email protected] ☎ +44 (0)1865 281290

Application-process enquiries

See the application guide

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.

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.

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]