preparing students for academic and professional careers through research & application

The Finance PhD program provides students with the advanced training necessary to pursue careers in research and teaching at institutions of higher learning. We seek to admit, train, and graduate students who have initiative, enthusiasm, and a desire to become scholars.

Renowned FACULTY

Our professors prepare students to seek careers in banking, financial services, real estate, insurance, risk management, corporate financial management, investment management, and international finance.

What to expect

The PhD Program in Finance involves a minimum of two years of rigorous coursework. In addition to Finance seminars, students take courses in Economics and Statistics. In the first year, students must pass a micro-economics exam. In the second year, students must pass a finance comprehensive exam, and by the third year, students must successfully complete and present an original study undertaken under the direction of the student’s faculty advisor.

Students are expected to be engaged in quality research with faculty throughout their time in the program. Students typically start writing their dissertation in the third year. Writing a dissertation is the final test of research skills. It requires an understanding of relevant literature and methodology, and the ability to think independently. PhD candidates must find an original topic, formulate and test hypotheses, and write and defend at a final oral examination a document acceptable to the dissertation committee and to the Graduate School.

Admission decisions are made by the Finance PhD Admissions Committee. Factors considered include:

  • GMAT or GRE scores
  • Letters of recommendation
  • Previous courses taken
  • Personal statement
  • Grades
  • Background
  • Interview

 

TOEFL Statement

As per the policy of the University of Alabama Graduate School, a student whose first language is not English must submit an official score report for the Test of English as a Foreign Language (TOEFL), the International English Testing System (IELTS), or the Pearson Test of English (PTE). The minimum score for admission to a degree program or for nondegree admission is 550 on the paper-based TOEFL or 79 on the iBT. The minimum IELTS score for admission to a degree program or for non-degree admission is 6.5. The PTE minimum score for admission to a degree program or for non-degree admission is 59. TOEFL, IELTS, or PTE scores must be less than two years old at the time of intended initial enrollment at The University of Alabama. Should TOEFL, IELTS, or PTE scores become more than two years old prior to enrollment, the student will be required to retest and submit an acceptable score before enrolling. The TOEFL, IELTS, or PTE will not be required from an applicant who fulfills the following criteria: 1) has been in residence in the United States at a regionally accredited U.S. college or university, and 2) has been enrolled in coursework for two consecutive years immediately prior to enrolling at The University of Alabama or has earned a degree from that college or university within three years of enrolling at The University of Alabama. The Test of Spoken English (TSE) is recommended for international students who wish to be considered for teaching assistantships.

Admission to the Finance PhD program is on a rolling basis, meaning applications can be submitted at any time. However, we suggest you submit your application to start in the Fall semester by January 1st. You may submit later, but early application increases the probability of a fellowship or scholarship. The PhD committee begins reviewing applications in mid-January. The admissions process will be completed when the class is full.

CourseTitleHours
EC 597Mathematical Economics (bootcamp)3
EC 610Seminar in Microeconomic Theory3
EC 660Game Theory3
EC 670Econometrics3
EC 671Seminar in econometrics3
FI 601Finance Theory I3
FI 602Finance Theory II3
FI 610Seminar in Financial Management3
FI 614Seminar in Investments3
FI 624Financial Markets3
ST 521Statistical data management (the SAS course)    3
 Four elective courses 12
Total Hours 45

During the third year, students are expected to commence work on the dissertation. Students are expected to have identified a primary advisor by the start of the fall semester of their third year and formally begin work on their thesis.

Writing a dissertation is the final test of research skills. It requires an understanding of relevant literature and methodology, as well as the ability to think independently. PhD candidates must:

  • Find an original topic
  • Plan a test of hypotheses
  • Propose this topic to their committee
  • Write and defend at a final oral examination a document acceptable to the dissertation committee and to the Graduate School

Current Students & Job Market Candidates*

Tianhua (Tim) Cao*

  • Education:
    • BA in Economics: Zhongnan University of Economics and Law
    • MBA Financial Management: Southeast Missouri State University
  • Focus Area of Study: Corporate Finance, Corporate Governance, Executives Compensation, Executives Diversity, ESG

View Tim’s Website

Ngoc (Annie) Le

  • Education:
    • BA in Economics: Foreign Trade University, Vietnam
    • MS in Agricultural Economics: Louisiana State University
  • Focus Area of Study: Institutional Ownership Investment-Corporate Finance Interface

View Ngoc’s Website

  • Education:
    • BS in Business Administration: Dongguk University, South Korea
    • MA in Economics: Columbia University
  • Focus Area of Study: Corporate Governance, Corporate Social Responsibility, Director Labor Market

Yixuan (Sherry) Zhou

  • Education:
    • BS in Financial Economics: Troy University
    • MBA Information Systems: Troy University
  • Focus Area of Study: Insurance and Risk Management

Hoang Nguyen

  • Education:
    • BS in Electronics Engineering: Hanoi University of Science and Technology
    • MA in Statistics: Louisiana State University
  • Focus Area of Study: Investment, Machine Learning

Ehsan Babaei

  • Education:
    • BS in Mathematics: Amir Kabir University of Technology
    • MS in Finance: Petroleum University of Technology
  • Focus Area of Study: Corporate Finance, Corporate Governance

Sima Haghighi

  • Education:
    • BS in Industrial Engineering: Sharif University of Technology
    • MBA Finance: K. N. Toosi University of Technology
  • Focus Area of Study: Diversity, Investment, and Corporate Finance

Alla Kammerdiner

Yidong Xiao

  • Education:
    • BA in Finance: Ocean University of China
    • MA in Economics: University of Tokyo
    • MFin in Alternative Investments: UMASS Amherst
  • Focus Area of Study: Corporate Finance, Game theory, Econometrics 

Alumni

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General questions about the application process?

Contact April Ingram, Director of PhD programs, at aaingram@culverhouse.ua.edu.

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