for the Doctor of Philosophy in Finance
chair of department: Louis Chan
director of graduate studies: Martin Widdicks (MSF); George Pennacchi (PhD)
department website: https://giesbusiness.illinois.edu/msf
overview of grad college admissions & requirements: https://grad.illinois.edu/admissions/apply
college website: https://giesbusiness.illinois.edu/
department office: 340 Wohlers Hall, 1206 S. Sixth Street, Champaign, IL 61820
phone: (217) 244-2239
Graduate Degree Programs in Finance
optional concentrations for the Finance, MS: Accountancy, Business & Public Policy, Corporate Governance & International Business, Data Analytics in Finance, Information Technology & Control
optional concentration for the Financial Engineering, MS: Data Analytics in Finance
The first stage toward the degree of Doctor of Philosophy ends when the candidate completes certain minimum coursework, fulfillment of other departmental requirements, and successful passing of a qualifying examination. The second stage requires successful completion and presentation of an initial research paper. The third stage includes research and preparation of the dissertation. Completion of this stage requires an oral preliminary thesis proposal defense and an oral final dissertation defense.
The minimum number of graduate hours required for all stages combined is 64. A student plans courses and research with his or her advisor. Consideration is given to previous academic training, career objective and the general requirements of the Graduate College and the Department. The student should become familiar with these requirements and satisfy them as soon as possible.
The Doctor of Philosophy is primarily a research degree, and the candidate must demonstrate the capacity for independent research by producing an original thesis on a topic within his or her major field of study. The subject of the thesis must be reported to the doctoral committee and to the Graduate College at the time of the preliminary examination (proposal defense). The candidate is admitted to the final oral examination by the dean of the Graduate College upon completion of the dissertation and the recommendation of the department.
The doctoral program generally begins in the fall semester. The application period typically runs October 1 through February 15.
Additional details on the program may be found at https://giesbusiness.illinois.edu/programs/doctoral/finance
The minimum required grade point average for admission is 3.0 (A = 4.0). All applicants are required to submit Graduate Management Admission Test (GMAT) or GRE scores. Most international applicants are also required to submit Test of English as a Foreign Language (TOEFL) IELTS or iBT scores. The test scores will be used by the Admissions Committee, along with other information, in evaluating the applicant’s qualifications for graduate study.
for the Doctor of Philosophy in Finance
|ECON 502||Economic Statistics (and prerequisites if required (ECON 500, ECON 501, ECON 506)||4-16|
|MATH 464||Statistics and Probability II (4 min)||3,4|
|ECON 507||Computable G E Modeling||4|
|At least two doctoral level courses beyond the minimum course requirements in econometrics and statistics, with a minimum grade of B in each||8|
|FIN 590||Individual Study and Research||4|
|FIN 591||Theory of Finance||4|
|FIN 592||Empirical Analysis in Finance||2-4|
|FIN 594||Seminar in Corporate Finance||4|
|FIN 593||Seminar in Investments||4|
|Research Seminars in Finance (16 min)||16|
|FIN 599||Thesis Research (min/max applied toward degree 0 min)||0|
|Other requirements may overlap|
|Students who do not already hold a Master's degree or its equivalent prior to enrollment must also take additional finance courses to complete the requirements of the MS Finance degree|
|Masters Degree Required for Admission to PhD?||No, earned during Ph.D.|
|Qualifying Exam Required||Yes|
|Preliminary Exam Required||Yes|
|Final Exam/Dissertation Defense Required||Yes|
|Dissertation Deposit Required||Yes|