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Finance, Ph.D.

  • Application Deadline
  • 36 months
University rank #166 (QS) Rochester, NY, United States
Finance at Simon Business School deals with problems of corporate financial policy, individual consumption-investment choices, and capital market equilibrium in an uncertain environment. The principles of price theory, mathematics, and statistics provide the basis for analyzing these problems. 
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The methodological approach taken at Simon Business School places strong emphasis on formal modeling of problems and empirical testing of alternative theories.


The first year is designed to give students solid training in microeconomics and econometrics and to introduce them to the basic issues in finance. The Finance Seminars introduce students to the current research topics. 

Students will be required to take courses offered by Simon Business School as well as an Economics Sequence offered through the University of Rochester's Economics Department.  Students are also required to prepare a first year research paper that they will present in the fall of the second year.


The second year is designed to deepen students' knowledge of finance. Students are expected to take PhD-level courses in Finance. In addition, participation in Finance and Applied Economics seminars is required. 

This training prepares the student for the Qualifying Exam. The Qualifying Exam, given at the end of the second year, tests students' abilities to integrate class material and reading requirements by requiring the students to present an original research paper.


In the third year, students move from course work to active research. Continued participation in all Finance and Applied Economics Seminars is required throughout the program.

Detailed Programme Facts

  • Programme intensity Full-time
    • Full-time duration 36 months
  • Credits
    90 alternative credits
  • Languages
    • English
  • Delivery mode
    On Campus

Programme Structure

Courses include:
  • Capital Budgeting and Corporate Objectives
  • Investments
  • Corporate Finance
  • Corporate Financial Policy and Control
  • Options and Futures Markets
  • Banking in Financial Markets
  • Financial Institutions
  • Cases in Finance
  • Investment Management and Trading Strategies
  • International Economics and Finance
  • Financial Information Systems (same as CIS 446)
  • Fixed-Income Securities

English Language Requirements

  • Minimum required score:


    The TOEFL iBT ® measures your English-language abilities in an academic setting. The test has four sections (reading, listening, speaking, and writing), each with a score range of 0-30, for a total score range of 0-120.

  • Minimum required score:


    The IELTS – or the International English Language Test System – tests your English-language abilities (writing, listening, speaking, and reading) on a scale of 1.00–9.00. The minimum IELTS score requirement refers to which Overall Band Score you received, which is your combined average score. Read more about IELTS.

General Requirements

Admission requirements:
  • Completed and submitted online application.
  • Official transcripts for all university level course work for which a grade was received must be scanned and uploaded through the online application system
  • Three letters of recommendation are required
  • Two completed essays submitted via the online application
  • A current resume is required to be submitted via the online application
  • The non-refundable USD $100 application fee

Tuition Fee

  • International

    2820 USD/year
    Tuition Fee
    Based on the original amount of 2820 USD per year and a duration of 36 months.
  • National

    2820 USD/year
    Tuition Fee
    Based on the original amount of 2820 USD per year and a duration of 36 months.
We've labeled the tuition fee that applies to you because we think you are from and prefer over other currencies.

Living costs for Rochester

  • 925 - 1350 USD/month
    Living Costs

The living costs include the total expenses per month, covering accommodation, public transportation, utilities (electricity, internet), books and groceries.


In addition to scholarships and assistantships, all applicants receive a research budget to meet academic needs such as publications, unique data, study aids, and travel, etc. Additional funding is provided throughout the students stay in the program as various milestones are met.

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.


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