Doctoral School in Economics and Finance, Ph.D.

  • Application Deadline
  • 36 months
  • Tuition
    Tuition (Semester)
    Tuition (Semester)
  • English (take IELTS)


Aims and Focus

The doctoral candidates of this Doctoral School in Economics and Finance at the University of Luxembourg will focus on developing their ability to cope with new, original research questions and address them with up-to-date quantitative tools and methods. The objective is to train highly skilled professionals and to contribute to the dissemination and advancement of knowledge in economics and finance.

Through the collaboration of the School’s researchers with private partners as well as local and international public institutions, the doctoral candidates will have the opportunity to exchange with external experts and organisations.

The interdisciplinary nature of the School offers candidates a rich training environment and diversity of research topics, as well as a better opportunity of academic and professional placement within and outside Europe. The two research programmes cover the following topics:

  • Economics, focusing on regional development, economic integration, environment policies, international economics, macro finance, macroeconomic growth and dynamics.
  • Finance, focusing on quantitative finance, risk management and financial governance, corporate finance, behavioural finance, law and finance, islamic finance.

The Ph.D. is the first step in your academic career, whether you intend to pursue research in the academic world or in industry. Your original academic work will constitute your Ph.D. thesis (dissertation). Your research will end with the writing and the oral presentation of your dissertation. Your progress will be assessed regularly by a supervisory committee which will include your dissertation supervisor.

Training objectives
  • Acquisition of the knowledge and skills needed for an efficient use of the most advanced analytical tools in a specific research topic
  • Capacity to define and skilfully implement a specific research objective
  • Promoting research discussion as a means to improve one’s understanding of the issues at hand
  • Capacity to discuss research results and methods.
Career perspective

The doctoral school aims at supplying high qualification professionals in Economics and Finance, for careers in Luxembourg or abroad in

  • research centers and universities
  • the finance industry (e.g. banks and credit institutions)
  • economic and/or financial public institutions (e.g. public administrations, Central Banks, governments, Institutes for Statistics, the European Investment Bank, the European Commission)


Detailed Programme Facts

  • Full-time duration 36 months
  • Study intensity Full-time
  • Credits
    20 ECTS
  • Languages
    • English
  • Delivery mode
    On Campus

Programme Structure


  • Advanced Macroeconomics II
  • Research Seminars in Finance
  • Corporate Finance Theory
  • Start up course for Stata User
  • Job market seminar in economics and finance
  • Doctoral Course on Matching Methods
  • Advanced Econometrics  – Nonparametric Methods in Econometrics
  • Research Topics in Intellectual Property and Patents
  • Matlab for financial modeling
  • The Equity Premium Puzzle
  • Doctoral Seminar on Experimental Methods in Economics and Finance
  • Topics on Migration
  • Advanced Investment Theory

For more information please visit the programme website.

English Language Requirements

This programme requires students to demonstrate proficiency in English.

Take IELTS test

Academic Requirements

 Forms required for your application as a PhD at the DSEF:

  • Statement of Interest
  • Statement of Equivalence
  • CV
  • Research project (2 pages)
  • Copy of the transcript of the master studies/certificate of MRT or similar
  • Motivation letter (1 page)
  • Reference letters

Tuition Fee Per Semester

  • EUR 200 International
  • EUR 200 EU/EEA


Funding at the University of Luxembourg

The Ph.D. candidate

  • Commits to the University of Luxembourg by signing a fixed-term contract of employment for an initial of 14 months extendable up to 3-4 years at the rate of 40 hours per week;
  • Is placed under the supervision of a professor;
  • Must provide 1 to 3 hours of teaching per week;
  • Devotes more than 80% of his time to research activities.


  • The candidate applied successfully for a Ph.D. offer financed by the university which was published on the university’s employment portal.
Research training grant ("Aide à la Formation Recherche" (AFR)

The Ph.D. candidate

  • Applies for “Research training grant” from the National Research Fund. Applications can be submitted twice a year.
  • Applies for a fellowship or for a contract of employment with the university;
  • Is placed under the supervision of a professor;
  • Devotes more than 80% of his time to research – a teaching activity is desirable.


  • The candidate applied successfully for a Ph.D. offer funded by “research training grant” which was published on the university’s employment portal
  • The candidate submitted his dissertation topic to a dissertation supervisor who accepted it
“Third-party” funding
  • The Ph.D. student is “sponsored” by a third organisation (companies, public research centres, etc.) which funds his research.
  • This funding can be formalised by an agreement with the University of Luxembourg.
  • The Ph.D. student devotes more than 90% of his time to research.


  • The Ph.D. student has chosen his topic and is working in a company or a research institution.

The Ph.D. candidate

  • Finances his dissertation with his own funds.
  • Does not sign a contract of employment with the University of Luxembourg.
  • Devotes all his “free” time to his research project.
  • Is placed under the supervision of a professor.
  • Ph.D. students with an occupation are in general enrolled as part-time students.
    (For more Information, contact the "Office of Doctoral Studies")


  • The candidate has chosen his dissertation topic

StudyPortals Tip: Students can search online for independent or external scholarships that can help fund their studies. Check the scholarships to see whether you are eligible to apply. Many scholarships are either merit-based or needs-based.