Michigan State University’s Finance PhD program is a rigorous and highly regarded program designed to prepare students for successful academic careers at leading research institutions. Located within the Broad College of Business, the program emphasizes both theoretical depth and empirical rigor, equipping graduates with the tools necessary to conduct cutting-edge research and contribute meaningfully to the field of finance.
The program typically takes four to five years to complete, following a structured curriculum that blends foundational coursework with specialized research training. The first two years are largely devoted to mastering core theoretical concepts in finance, economics, econometrics, and accounting. Students take courses such as Corporate Finance Theory, Asset Pricing Theory, Financial Econometrics, and Microeconomic Theory. These courses are designed to build a strong analytical foundation and provide students with the necessary quantitative skills.
A critical component of the early years is the Qualifying Exam. Students must pass this exam, typically taken at the end of the second year, to continue in the program. This exam assesses their understanding of the core material and their ability to apply it to solve complex problems.
After successfully completing the Qualifying Exam, students focus on developing their research skills and specializing in their chosen area of finance. They work closely with faculty members to develop research ideas, conduct independent research, and prepare papers for publication in top-tier academic journals. Faculty at MSU have expertise in a wide range of finance areas, including asset pricing, corporate finance, behavioral finance, financial econometrics, and market microstructure. This allows students to pursue research interests in diverse areas and benefit from the guidance of experienced researchers.
Throughout the program, students are encouraged to present their research at conferences and workshops, both within MSU and at other universities. This provides valuable opportunities to receive feedback on their work, network with other researchers, and build their professional reputation.
MSU’s Finance PhD program places a strong emphasis on publication. Students are expected to publish their research in leading academic journals before graduating. The program provides ample resources and support to help students achieve this goal, including access to research databases, statistical software, and travel funding for conferences.
Graduates of MSU’s Finance PhD program have been placed at reputable universities and research institutions across the globe. The program’s strong reputation and focus on research excellence make it a highly competitive and rewarding option for students seeking a career in academic finance. Prospective applicants should have a strong quantitative background, a passion for research, and a commitment to academic excellence.