Finance Program and Curriculum

The level of competence expected from doctoral graduates is that of a scholar contributing to the advancement of the student’s chosen field. This implies three competencies: a broad knowledge of the field, a detailed understanding of current research in that field, and a sound grounding in advanced research methodologies. 

Curriculum

Refer to the GW Bulletin for the official degree requirements.

The curriculum consists of 45 credit hours of formal coursework, primarily completed during the first two years, followed by three years of research culminating in the dissertation defense. The program includes 27 credits of core courses, a 3-credit summer paper, and 15 credits of electives. Students should consult with their faculty advisory group when selecting required courses and electives.

The formal coursework structure for the first two years is outlined below. During years three through five, students focus on dissertation research.

*If Seminar in Accounting Theory I is offered in this semester, then Macroeconomic Theory is shifted to the second fall semester.
**Introduction to Financial Theory can substitute for Seminar in Accounting Theory.
***If Accounting Theory is offered in this semester, then Real Estate Seminar is shifted to the fall semester.

• At least four courses on research methods are required.
• At least one Ph.D. course outside the field is required. A Ph.D. course with a global focus is highly recommended.
• Changes in alternative years: first-year and second-year doctoral courses alternate.

Elective Course Examples

• ACCY 8001, Seminar in Management Accounting
• ACCY 8001, Seminar: Accounting Research on Valuation & Performance-Eval. Roles of Accounting Info
• ACCY 8001, Seminar: Empirical Research on Economics of Auditing/Marketing-Based Accounting Research
• IBUS 8361, Seminar: Knowledge & Innovation in the International Economy
• IBUS 8361, Colloquium in Internationall Business: Institutions and Development
• ECON 8303, Microeconomic Theory III
• ECON 8306, Macroeconomic Theory II
• ECON 8307, Macroeconomic Theory III
• ECON 8323-4, Monetary Theory and Policy
• ECON 8341-2, Labor Economics
• ECON 8345-6, Industrial Organization
• ECON 8382, International Finance and Open Economy Macroeconomics
• ECON 8377, Econometrics III
• STAT 8281, Advanced Time Series Analysis
• STAT 8262, Nonparametric Inference
• STAT 8263-4, Advanced Statistics Theory
• STAT 8273, Stochastic Processes

Academic Achievement

The objective of the Ph.D. program is to prepare students for academic careers at major research universities. It is expected that our graduating students will have:

1. One or more journal publications in top-tier academic journals.
2. Multiple presentations at major academic conferences.
3. Won awards for best dissertations and best papers at professional conferences.
4. Developed effective personal networks with scholars from around the world.

Coursework

Students are required to complete core course requirements, and develop a study plan in consultation with their advisory committee. Students should complete coursework during the first two years of the program.

Summer Paper

Each student is required to write a summer research paper during their first summer in the program. The summer paper must be approved and accepted by Finance Department core faculty and the GWSB Doctoral Committee. It is expected that this summer research will result in a paper that signals very high quality such as acceptance from a premier journal by the end of the fourth year of the program (continued fellowship is contingent on this result).

Second Year Comprehensive Field Exam

Performance on the major field exam is an important indicator of a student’s capacity for successful completion of the degree. Proficiency in the major field is determined by a written exam. To maintain normal progress, this exam should be taken at the end of a student’s second year. This exam must be passed by the end of the spring quarter of the student’s third year. This exam will be administered and graded by a committee.

Annual Review

Student performance is reviewed at the end of each year. The review evaluates student promise and progress, looking at course grades, written and oral capabilities, capacity for intellectual contribution, participation in the academic life of the school, and research productivity and progress. This review will include a recommendation to the Associate Dean whether the student should continue in the program and areas for improvement where needed.

Graduating Timeline

The dissertation defense must be completed in five years. In extenuating circumstances, extensions not to exceed two years may be granted by the Associate Dean in consultation with the Dissertation Committee.

Unsatisfactory Performance

Students will be withdrawn from the program if they do not meet performance expectations. All course work must be completed (with satisfactory grades) by the end of the second year, the summer paper must be approved by the end of the second year, and the comprehensive exam must be passed before the start of the third year. In extenuating circumstances, the Doctoral Committee, on the recommendation of the department, may grant extensions of up to but not exceeding one year, for the timelines above. Engagement in research activities of the department and progress toward proposal and the dissertation are critical from year three onward.