phd in finance university of british columbia

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The Vancouver School of Economics at UBC offers a renowned PhD program and the strengths of a quality research faculty.

Our small cohort sizes provide extensive opportunities for student-faculty interaction, including joint research projects and active supervision, and a diverse offering of specializations for dissertation work.

Each year we typically admit about 15 new students to our program. As a result, our program is small enough to provide extensive research supervision yet large enough to offer expertise in a wide range of fields. Virtually all of the school’s research faculty hold grants from the Social Sciences and Humanities Research Council and other funding agencies, which provides ample opportunities for research assistantships and dissertation support.

The school manages the British Columbia Inter-University Research Data Centre , is home to the Centre for Innovative Data in Economics Research (CIDER), and has onsite use to the FDZ-IAB Data Access Point. As a result, unique training opportunities, research funding, and access to data and computing resources are available to our PhD students.

In addition to studying with the VSE professors, our students can work with faculty in other discipline in UBC’s Faculty of Land and Food Systems, the Sauder School of Business and Computer Science to name a few.

Program Overview

Before coursework in September, students undertake a mathematics review that is administered online in August.

During their first year, students take course sequences in microeconomics, macroeconomics, and econometrics. Each course sequence consists of two courses, each a semester-long.

At the end of the academic year, students write comprehensive examinations in microeconomics and macroeconomics.

Second year

In the second year, students take advanced courses in their chosen fields of specialization and a one-semester course in applied econometric methods. Students also participate in a one-semester seminar course that introduces them to the research process.

Starting in the second year, students begin attending the many research seminars held by the school, furthering their exposure to the research frontier.

Near the end of the second semester, students submit a research paper proposal. Students spend the summer after the second year working on this paper (which is submitted in the first semester of the third year) to familiarize students with the research process and aid and foster the transition to independent study.

In their third year, students reduce their course load and concentrate on research. Students participate in a PhD research seminar course. This seminar provides an opportunity for interaction between faculty and students in their respective fields through research presentations and discussions.

By their third year, students regularly participate in VSE research seminars, usually in one or two fields of specialization. Students are also regular participants in one of the weekly lunch workshop series, where students and professors present their work-in-progress and preliminary research in an informal setting.

Throughout the year, students further their research through self-initiated interaction with faculty outside of the classroom setting.

By the year's end, students form a dissertation committee in preparation for admission to candidacy. Admission involves having their dissertation prospectus approved by the candidate's supervisor(s).

Fourth year

In consultation with their committee, students now work full-time on their dissertation. The goal is to prepare a completed dissertation chapter that students can use as a "job market paper".

Job Market Placement

The VSE is involved in preparing our PhDs "job market package," distributed to employers. The VSE will advertise the student's credentials to employers through several formal and informal channels.

Typically, students complete their job market papers by the end of the first semester of the fifth year. During this semester, students are assisted in the preparation of their "job market package", containing their research papers, curriculum vitae, and faculty reference letters.

In late November, faculty members conduct mock interviews with job market candidates to prepare for interviews at the American Economic Association meeting and the Canadian Economics Employment Exchange.

During this period, the VSE reserves its seminar schedule for its job market candidates, so students can practice their "job market seminar" and receive invaluable feedback from faculty in all fields of the VSE.

Initial job interviews are held every year in December and January. Following interviews, students visit universities and other employers and typically conclude their job search by the end of March.

Dissertation

Students typically complete their dissertation at the end of the fifth year. At this time, the candidate is given an oral examination by members of the VSE. Then the candidate defends the dissertation in an oral examination administered by the Faculty of Graduate and Postdoctoral Studies. Upon successful defense, the PhD is granted.

Program Requirements

Students are required to enroll in at least 18 credits of coursework in the first year. The standard first-year course program is:

• Term 1 (September to December) – ECON 600 Microeconomics I, ECON 602 Macroeconomics I, ECON 626 Econometrics I
• Term 2 (January to April) – ECON 601 Microeconomics II, ECON 603 Macroeconomics II, ECON 627 Econometrics II (three credits each)
• Comprehensive Exams in microeconomic and macroeconomic theory are written in June

In the second year, students typically take ECON 628 Topics in Applied Econometrics (three credits) plus an additional 21 credits of economics courses at the 500- and 600-level; of these 21 credits, students may take six for audit. By the end of the second year, students are to have completed 42 credits of coursework.

In the third year of the program, students must take ECON 640 Ph.D. Research Seminar (three credits).

Summer research paper

The summer paper familiarizes students with the research process and aid and fosters an independent research transition.

A written proposal for the summer research paper is due on March 15, during the PhD program's second year. Students spend the summer after completing the second-year coursework working on the paper.

A first draft of the paper is due at the start of the third year on September 1. After receiving final suggestions for revision from the faculty, a final version of the research paper is due on October 1.

Candidates for the PhD degree who hold a master's degree must be enrolled for a minimum of two academic sessions (two years) at UBC before taking the final examination for the PhD degree. For students admitted to the PhD program with a Bachelor's degree, the total minimum enrolment period is three academic sessions (three years).

Students usually are admitted to candidacy when they have completed their period of residence and required coursework, passed the comprehensive examinations, submitted the summer research paper, and, most importantly, have their dissertation prospectus approved by their research supervisor.

A student who is not admitted to candidacy within three years from the date of initial registration is required to withdraw from the program. The dean may permit an extension of this period under exceptional circumstances.

The dissertation

A candidate for the PhD degree must submit an acceptable dissertation. The dissertation represents a substantial piece of original research and constitutes a contribution to knowledge in the field of the subject chosen.

The candidate selects their dissertation topic in consultation with a dissertation committee.

Before the research has progressed too far, the candidate presents a detailed dissertation prospectus in a seminar setting; at this point, the prospectus is either formally accepted or rejected by the dissertation committee. Students research under the supervision of a faculty member who serves as chairperson of the committee.

When the dissertation is completed, the candidate is given an oral examination by faculty members of the Vancouver School of Economics and is then asked to defend the dissertation in an oral examination administered by the Faculty of Graduate and Postdoctoral Studies.

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The university of british columbia - vancouver - faculty of graduate studies, finance (phd) - doctor of philosophy in business administration in finance, program information, admission requirements.

* The entrance grade may change from year to year. Please contact the school for further information. * We make every attempt to provide accurate information on prerequisites, programs, and tuition. However, this information is subject to change without notice and we highly recommend that you contact the school to confirm important information before applying.

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Program Overview

The research-intensive Doctor of Philosophy (PhD) program in Political Science at UBC Vancouver will help prepare you to secure tenure-track faculty positions and prestigious postdoctoral fellowships, as well as other academic and non-academic careers.

Prospective graduate students should browse our research areas to learn about the groups of faculty members working in 30 different research fields, methodologies, and geographic regions.

Our PhD program consists of two years of graduate coursework followed by comprehensive exams following the completion of course requirements.

Students write a dissertation proposal by the end of their third year of study, and with its approval and defense, move on to their dissertation research and writing, which normally takes two to three years to complete.

We are proud to see many of our PhDs in faculty positions and in successful careers throughout the world. We value collaboration and collegiality, and we strive to create an atmosphere of trust, respect, and professional courtesy to ensure a diverse intellectual community.

NEW: CANADIAN POLITICS FACULTY RENEWAL

UBC Political Science has significantly renewed our Canadian Politics faculty roster in recent years with the recruitment of Profs. Carey Doberstein, Sophie Borwein, and Vince Hopkins.

The Canadian Politics field at UBC is now especially equipped to supervise graduate students in the realm of public policy, public opinion and identity, inequalities in society, and how governments design and implement policies, programs, and services.

New faculty also complement the existing Canadian Politics faculty strengths in the areas of federalism (Kathy Harrison, Gerald Baier) and political behavior (Fred Cutler, Matthew Wright).

Faculty in the Canadian Politics field use survey methods, data science and experimental designs, and qualitative approaches in the course of their research.

The renewed Canadian Politics faculty at UBC will supplement department financial support packages in the doctoral program with research assistance fellowships and conference support.

Our PhD graduates have been highly successful in pursuing academic and non-academic careers.

On the academic front, UBC PhDs hold tenured or tenure track positions at major universities in North America and internationally. Our graduates have taken up  tenure-track and tenured positions at Canadian institutions including the University of Toronto, University of Victoria, University of Western Ontario, York University, University of Ottawa, MacEwan University, University of Fraser Valley, University of Manitoba, Memorial University of Newfoundland, McMaster University, and the University of Calgary; at U.S. institutions including the University of Michigan, University of Pittsburgh, Colorado State University, Georgia Tech, Soka University; and outside North America at institutions including the University of Essex, University of Sheffield, University of St. Andrews, Cardiff University, Trinity College Dublin, Tel Aviv University, Sophia University, National University of Singapore, Queensland University, Australia National University, University of Sydney, University of Melbourne, and Ritsumeikan University.

Our PhDs have held postdoctoral fellowships at Harvard University, Yale University, Columbia University, Vanderbilt University, University of Toronto, Queen’s University, Oxford University, Duke University, and other institutions.

Many UBC PhDs have taken their doctoral training to high-level positions with government agencies, NGOs, international organizations, think tanks, and private-sector employers, including Statistics Canada, the Supreme Court of Canada, the US Department of Defense Asia-Pacific Center, Global Affairs Canada, Health Canada, the International Committee of the Red Cross, Medecins Sans Frontiers, the United Nations Commission on the Status of Women, Deutschebank, Innovative Research Group, the Institute for Research on Public Policy, the Canadian Centre for Policy Alternatives, among others.

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Master of Science in Business Administration in Finance (MSCB)

Canadian immigration updates.

Applicants to Master’s and Doctoral degrees are not affected by the recently announced cap on study permits. Review more details

Go to programs search

Aimed at students interested in research, the UBC MSc in Business Administration is a challenging and rigorous program designed to prepare students for a PhD program and a subsequent career in academia.

As an MSc student, you will not only become part of a rich and stimulating academic community with a strong research emphasis, but you will also enjoy the opportunity to work with the best research faculty in Canada.

For specific program requirements, please refer to the departmental program website

What makes the program unique?

The Sauder School of Business is considered the top research business school in Canada and a leading academic institution. Sauder is the leading recipient of research grants from Canada's major federal agencies and outperforms other Canadian business schools in both research publications and citations. In 2012, the Financial Times rankings put Sauder among its top 20 in the world for research impact and the Social Sciences Research Network (SSRN) rated the Sauder School of Business as 17th in the world for business and management research among schools outside of the United States. Sauder faculty members hold editorial positions at major journals in their fields and their work is recognized internationally. The Sauder School of Business at UBC is home to excellent teaching, an active research community and a strong collaborative culture.

Quick Facts

Program enquiries, admission information & requirements, 1) check eligibility, minimum academic requirements.

The Faculty of Graduate and Postdoctoral Studies establishes the minimum admission requirements common to all applicants, usually a minimum overall average in the B+ range (76% at UBC). The graduate program that you are applying to may have additional requirements. Please review the specific requirements for applicants with credentials from institutions in:

• Canada or the United States
• International countries other than the United States

Each program may set higher academic minimum requirements. Please review the program website carefully to understand the program requirements. Meeting the minimum requirements does not guarantee admission as it is a competitive process.

English Language Test

Applicants from a university outside Canada in which English is not the primary language of instruction must provide results of an English language proficiency examination as part of their application. Tests must have been taken within the last 24 months at the time of submission of your application.

Minimum requirements for the two most common English language proficiency tests to apply to this program are listed below:

TOEFL: Test of English as a Foreign Language - internet-based

Overall score requirement : 100

IELTS: International English Language Testing System

Overall score requirement : 7.0

Other Test Scores

Some programs require additional test scores such as the Graduate Record Examination (GRE) or the Graduate Management Test (GMAT). The requirements for this program are:

The GRE or a comparable test is required. Please check the program website.

2) Meet Deadlines

3) prepare application, transcripts.

All applicants have to submit transcripts from all past post-secondary study. Document submission requirements depend on whether your institution of study is within Canada or outside of Canada.

Letters of Reference

A minimum of three references are required for application to graduate programs at UBC. References should be requested from individuals who are prepared to provide a report on your academic ability and qualifications.

Statement of Interest

Many programs require a statement of interest , sometimes called a "statement of intent", "description of research interests" or something similar.

Supervision

Students in research-based programs usually require a faculty member to function as their thesis supervisor. Please follow the instructions provided by each program whether applicants should contact faculty members.

Instructions regarding thesis supervisor contact for Master of Science in Business Administration in Finance (MSCB)

Citizenship verification.

Permanent Residents of Canada must provide a clear photocopy of both sides of the Permanent Resident card.

4) Apply Online

All applicants must complete an online application form and pay the application fee to be considered for admission to UBC.

Tuition & Financial Support

Financial support.

Applicants to UBC have access to a variety of funding options, including merit-based (i.e. based on your academic performance) and need-based (i.e. based on your financial situation) opportunities.

Scholarships & awards (merit-based funding)

All applicants are encouraged to review the awards listing to identify potential opportunities to fund their graduate education. The database lists merit-based scholarships and awards and allows for filtering by various criteria, such as domestic vs. international or degree level.

Graduate Research Assistantships (GRA)

Many professors are able to provide Research Assistantships (GRA) from their research grants to support full-time graduate students studying under their supervision. The duties constitute part of the student's graduate degree requirements. A Graduate Research Assistantship is considered a form of fellowship for a period of graduate study and is therefore not covered by a collective agreement. Stipends vary widely, and are dependent on the field of study and the type of research grant from which the assistantship is being funded.

Graduate Teaching Assistantships (GTA)

Graduate programs may have Teaching Assistantships available for registered full-time graduate students. Full teaching assistantships involve 12 hours work per week in preparation, lecturing, or laboratory instruction although many graduate programs offer partial TA appointments at less than 12 hours per week. Teaching assistantship rates are set by collective bargaining between the University and the Teaching Assistants' Union .

Graduate Academic Assistantships (GAA)

Academic Assistantships are employment opportunities to perform work that is relevant to the university or to an individual faculty member, but not to support the student’s graduate research and thesis. Wages are considered regular earnings and when paid monthly, include vacation pay.

Financial aid (need-based funding)

Canadian and US applicants may qualify for governmental loans to finance their studies. Please review eligibility and types of loans .

All students may be able to access private sector or bank loans.

Foreign government scholarships

Many foreign governments provide support to their citizens in pursuing education abroad. International applicants should check the various governmental resources in their home country, such as the Department of Education, for available scholarships.

Working while studying

The possibility to pursue work to supplement income may depend on the demands the program has on students. It should be carefully weighed if work leads to prolonged program durations or whether work placements can be meaningfully embedded into a program.

International students enrolled as full-time students with a valid study permit can work on campus for unlimited hours and work off-campus for no more than 20 hours a week.

A good starting point to explore student jobs is the UBC Work Learn program or a Co-Op placement .

Tax credits and RRSP withdrawals

Students with taxable income in Canada may be able to claim federal or provincial tax credits.

Canadian residents with RRSP accounts may be able to use the Lifelong Learning Plan (LLP) which allows students to withdraw amounts from their registered retirement savings plan (RRSPs) to finance full-time training or education for themselves or their partner.

Please review Filing taxes in Canada on the student services website for more information.

Cost Estimator

Applicants have access to the cost estimator to develop a financial plan that takes into account various income sources and expenses.

Career Options

Our MSc is designed mainly to prepare students for further studies in a PhD program. Our MSc graduates have proceeded to PhD programs at the University of British Columbia, Columbia University, MIT, Northwestern University, Carnegie Mellon University, University of Minnesota, University of Toronto, London Business School, London School of Economics and the National University of Singapore. A fraction of our students take non-academic positions.

Enrolment, Duration & Other Stats

These statistics show data for the Master of Science in Business Administration in Finance (MSCB). Data are separated for each degree program combination. You may view data for other degree options in the respective program profile.

ENROLMENT DATA

Completion rates & times.

• Research Supervisors

This list shows faculty members with full supervisory privileges who are affiliated with this program. It is not a comprehensive list of all potential supervisors as faculty from other programs or faculty members without full supervisory privileges can request approvals to supervise graduate students in this program.

• Agarwal, Isha (Banking; International Finance; Corporate Finance; macroeconomics)
• Baldauf, Markus (Financial Markets; Information Economics; Industrial Organization; Regulation; Market Microstructure )
• Bena, Jan (Financial economics; Finance, n.e.c.; Stock markets; International economics and international finance; Economics of innovation and technical change; Industry economics and industrial organization; Innovation; Corporate innovation; Asset pricing of technological progress; Private equity; Corporate ownership structure; Frictions in raising external finance; Entrepreneurship; Ownership of startup companies; Finance and industrial organization; Product market interactions)
• Bian, Bo (Empirical corporate finance; Productivity; Innovation; Bankruptcy)
• Carlson, Murray (Introduction to capital markets, corporate finance, principles of finance, asset pricing)
• Dias Saraiva-Patelli, Ella (Finance; Asset pricing and international finance)
• Donaldson, R Glen (Risk management, Volatility forecasting, Asset valuation, Financial econometrics, Financial markets and price behavior)
• Favilukis, Jack (Consumption and Production Based Asset Pricing; Heterogeneity and Inequality; Incomplete Markets; Real Estate)
• Fisher, Adlai (Asset pricing, financial econometrics, volatility modelling, corporate finance, mergers and acquisitions)
• Garlappi, Lorenzo (Economics and business administration; Financial Economics; Asset pricing; Macro-Finance; Decision Theory)
• Giammarino, Ronald (Financial management; corporate theory; bank regulation; real options)
• Gornall, Will (Corporate finance ; Venture capital; Banking)
• Heinkel, Robert Lee (Stock markets; Corporate Finance)
• Lazrak, Ali (Finance and Accounting; Economic Phenomena on an Individual or Organizational Level; Asset pricing, Corporate Finance, Behavioral Finance, Household portfolio choice)
• Li, Kai (corporate governance, CEO compensation, mergers and acquisitions, shareholder activism, gender in corporate decision making, board of directors, national culture, innovation, Finance)
• Ortiz Molina, Hernan (Corporate finance and governance, executive compensations, industrial organization, interactions between real and financial decisions )
• Pikulina, Elena (Institutional investors; Corporate finance; Experimental and behavioral finance)

Related Programs

Same specialization.

• Doctor of Philosophy in Business Administration in Finance (PhD)

Same Academic Unit

• Doctor of Philosophy in Business Administration in Accounting (PhD)
• Doctor of Philosophy in Business Administration in Management Information Systems (PhD)
• Doctor of Philosophy in Business Administration in Management Science (PhD)
• Doctor of Philosophy in Business Administration in Marketing and Behavioural Science (PhD)
• Doctor of Philosophy in Business Administration in Organizational Behaviour (PhD)
• Doctor of Philosophy in Business Administration in Strategy and Business Economics (PhD)
• Doctor of Philosophy in Business Administration in Transportation and Logistics (PhD)
• Doctor of Philosophy in Business Administration in Urban Land Economics (PhD)
• Master of Business Administration (MBA)
• Master of Business Analytics (MBAN)
• Master of Management (MM)
• Master of Science in Business Administration in Management Information Systems (MSCB)
• Master of Science in Business Administration in Transportation and Logistics (MSCB)
• Professional Master of Business Administration (PMBA)

Further Information

Specialization.

Finance at UBC covers research interests ranging from game-theoretic models of corporate finance, to applications of Bayesian analysis in empirical finance, to theoretical modeling of equilibrium asset pricing.

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Departments/Programs may update graduate degree program details through the Faculty & Staff portal. To update contact details for application inquiries, please use this form .

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