phd in development finance in uk

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PhD/ MPhil/ MSc Finance (Research)

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The PhD/MPhil/MSc in Finance comprises a short taught component followed by a longer research phase. Taught modules allow you to broaden, as well as deepen, your knowledge of research methods as well as conducting your own research and developing transferable professional skills.

The PhD programme in Finance will facilitate the creation and interpretation of new knowledge by the research student, demonstrated through the thesis. The taught component is designed to ensure that doctoral researchers understand the breath of techniques used in modern social science research.

Doctoral researchers will be capable of analysing a range of data using a range of qualitative and quantitative techniques. They will be able to explain theories underlying different approaches to social science research. Doctoral researchers are expected to participate to the fullest possible extent in the life of the Department of Finance and the Business School. This means attending seminars organised by the Department of Finance and more widely in the Business School thereby helping expose doctoral researchers to new ideas emanating from outside their own area of specialisation. It also requires actively participating in PhD workshops and conferences organised by the Department of Finance, the Business School and Graduate School as well as institutions outside the University of Birmingham.

Ultimately all doctoral researchers will have the ability to characterise and solve business and financial problems using advanced research tools. They should be able to derive policy implications from their research and communicate these to policy makers, practitioners and other academics in a manner which is comprehensible. They will also be able to peer review others’ research and offer constructive criticism; and to extend the frontiers of the discipline through their own innovative research.

Doctoral researchers may choose to become academics, work in Government, businesses, supranational organisations or in the research arms of major financial institutions. They are expected to achieve a substantial understanding of contemporaneous financial and business issues enabling them to take a lead in ongoing debates within society. They will be aware of and understand the function of related institutions at both a national and international level.

Fees 2024 - 2025

• Code: 021B - £4,778 (UK) PhD Full time
• Code: 022B - £2,389 (UK) PhD Part time
• Code: 021B - £23,520 (International) PhD Full time
• Code: 023B - £4,778 (UK) MPhil
• Code: 023B - £23,520 (International) MPhil
• Code: 045B - £4,778 (UK) MSc (Research)
• Code 045B - £23,520 (International) MSc (Research)

Learn more about fees and funding

Scholarships and studentships

A limited number of scholarships may be available to outstanding applicants. International students  can often gain funding through overseas research scholarships, Commonwealth scholarships or their home Government.

For further information contact the School directly or visit our helpdesk.

How To Apply

• How to apply

To apply for a postgraduate research programme, you will need to submit your application and supporting documents online. We have put together some helpful information on the research programme application process and supporting documents on our how to apply page . Please read this information carefully before completing your application.

Our Standard Requirements

The Business School's entry requirement is a good honours degree (first or upper second class honours) awarded by a recognised University in an appropriate subject, and a merit in a relevant Master’s degree. We usually ask students for an average of 65 in the taught component of their Masters. All international students also need to show that they have adequate knowledge of written and spoken English.

Learn more about our entry requirements.

Writing your research proposal

Along with your academic record, your references and your curriculum vitae your research proposal plays a critical role in the evaluation of your application.

Your research proposal should illustrate your ability to plan an independent research study and the relevance of your topic to the research interests and expertise of Birmingham Business School.You need to demonstrate that you understand the field that you plan to research, identify an interesting and original research question, and develop a tentative plan of study. It is highly desirable that your research proposal is written to the guidelines specified below.

Guidelines for the Research Proposal

When clicking on the Apply Now button you will be directed to an application specifically designed for the programme you wish to apply for where you will create an account with the University application system and submit your application and supporting documents online. Further information regarding how to apply online can be found on the how to apply pages.

International Requirements

Applicants for postgraduate research programmes should hold a Bachelors degree and a Masters degree, with a GPA of 14/20 from a recognised institution to be considered. Applicants with lower grades than this may be considered on an individual basis.

Holders of the Licenciado or an equivalent professional title from a recognised Argentinian university, with a promedio of at least 7.5, may be considered for entry to a postgraduate degree programme. Applicants for PhD degrees will normally have a Maestria or equivalent

Applicants who hold a Masters degree will be considered for admission to PhD study.

Holders of a good four-year Diplomstudium/Magister or a Masters degree from a recognised university with a minimum overall grade of 2.5 will be considered for entry to postgraduate research programmes.

Students with a good 5-year Specialist Diploma or 4-year Bachelor degree from a recognised higher education institution in Azerbaijan, with a minimum GPA of 4/5 or 80% will be considered for entry to postgraduate taught programmes at the University of Birmingham.

For postgraduate research programmes applicants should have a good 5-year Specialist Diploma (completed after 1991), with a minimum grade point average of 4/5 or 80%, from a recognised higher education institution or a Masters or “Magistr Diplomu” or “Kandidat Nauk” from a recognised higher education institution in Azerbaijan.

Applicants for postgraduate research programmes should hold a Bachelors degree and a Masters degree, with a GPA of 3.0/4.0 or 75% from a recognised institution to be considered. Applicants with lower grades than this may be considered on an individual basis.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree, with a CGPA of 3.0-3.3/4.0 or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Students who hold a Masters degree from the University of Botswana with a minimum GPA of 3.0/4.0 or 3.5/5.0 (70%/B/'very good') will be considered for Postgraduate Diplomas and Masters degrees.

Please note 4-year bachelor degrees from the University of Botswana are considered equivalent to a Diploma of Higher Education. 5-year bachelor degrees from the University of Botswana are considered equivalent to a British Bachelor (Ordinary) degree.

Students who have completed a Masters degree from a recognised institution will be considered for PhD study.

A Licenciatura or Bacharelado degree from a recognised Brazilian university:

• A grade of 7.5/10 for entry to programmes with a 2:1 requirement
• A grade of 6.5/10for entry to programmes with a 2:2 requirement

Holders of a good Bachelors degree with honours (4 to 6 years) from a recognised university with a upper second class grade or higher will be considered for entry to taught postgraduate programmes.  Holders of a good Masters degree from a recognised university will be considered for entry to postgraduate research programmes.

Holders of a good post-2001 Masters degree from a recognised university will be considered for entry to postgraduate research programmes.

Students with a minimum average of 14 out of 20 (or 70%) on a 4-year Licence, Bachelor degree or Diplôme d'Etudes Superieures de Commerce (DESC) or Diplôme d'Ingénieur or a Maîtrise will be considered for Postgraduate Diplomas and Masters degrees.

Holders of a bachelor degree with honours from a recognised Canadian university may be considered for entry to a postgraduate degree programme. A GPA of 3.0/4, 7.0/9 or 75% is usually equivalent to a UK 2.1.

Holders of the Licenciado or equivalent Professional Title from a recognised Chilean university will be considered for Postgraduate Diplomas and Masters degrees. Applicants for PhD study will preferably hold a Magister degree or equivalent.

Students with a bachelor’s degree (4 years minimum) may be considered for entry to a postgraduate degree programme. However please note that we will only consider students who meet the entry guidance below.  Please note: for the subject areas below we use the Shanghai Ranking 2022 (full table)  ,  Shanghai Ranking 2023 (full table) , and Shanghai Ranking of Chinese Art Universities 2023 .

需要具备学士学位（4年制）的申请人可申请研究生课程。请根据所申请的课程查看相应的入学要求。 请注意，中国院校名单参考 软科中国大学排名2022（总榜） ，  软科中国大学排名2023（总榜） ，以及 软科中国艺术类高校名单2023 。  

Business School    - MSc programmes (excluding MBA)  

商学院硕士课程（MBA除外）入学要求

School of Computer Science – all MSc programmes 计算机学院硕士课程入学要求

College of Social Sciences – courses listed below 社会科学 学院部分硕士课程入学要求 MA Education  (including all pathways) MSc TESOL Education MSc Public Management MA Global Public Policy MA Social Policy MA Sociology Department of Political Science and International Studies  全部硕士课程 International Development Department  全部硕士课程

  All other programmes (including MBA)   所有其他 硕士课程（包括 MBA）入学要求

Please note:

• Borderline cases: We may consider students with lower average score (within 5%) on a case-by-case basis if you have a relevant degree and very excellent grades in relevant subjects and/or relevant work experience. 如申请人均分低于相应录取要求（5%以内），但具有出色学术背景，优异的专业成绩，以及（或）相关的工作经验，部分课程将有可能单独酌情考虑。
• Please contact the China Recruitment Team for any questions on the above entry requirements. 如果您对录取要求有疑问，请联系伯明翰大学中国办公室   [email protected]

Holders of the Licenciado/Professional Title from a recognised Colombian university will be considered for our Postgraduate Diploma and Masters degrees. Applicants for PhD degrees will normally have a Maestria or equivalent.

Holders of a good bachelor degree with honours (4 to 6 years) from a recognised university with a upper second class grade or higher will be considered for entry to taught postgraduate programmes.  Holders of a good Masters degree from a recognised university will be considered for entry to postgraduate research programmes.

Holders of a good Bacclaureus (Bachelors) from a recognised Croatian Higher Education institution with a minimum overall grade of 4.0 out of 5.0, vrlo dobar ‘very good’, or a Masters degree, will be considered for entry to postgraduate research programmes.

Holders of a Bachelors degree(from the University of the West Indies or the University of Technology) may be considered for entry to a postgraduate degree programme. A Class II Upper Division degree is usually equivalent to a UK 2.1. For further details on particular institutions please refer to the list below.  Applicants for PhD level study will preferably hold a Masters degree or Mphil from the University of the West Indies.

Applicants for postgraduate research programmes should hold a good Bachelors degree from a recognised institution with a minimum overall grade of 6.5 out of 10, or a GPA of 3 out of 4, and will usually be required to have completed a good Masters degree to be considered for entry to postgraduate research programmes. Applicants with lower grades than this may be considered on an individual basis.

Holders of a good Bakalár from a recognised Czech Higher Education institution with a minimum overall grade of 1.5, B, velmi dobre ‘very good’ (post-2004) or 2, velmi dobre ‘good’ (pre-2004), or a good post-2002 Magistr (Masters), will be considered for entry to postgraduate research programmes.

Applicants for postgraduate research programmes should hold a good Bachelors degree from a recognised institution with a minimum overall grade of 7-10 out of 12 (or 8 out of 13) or higher for 2:1 equivalence and will usually be required to have completed a good Masters/ Magisterkonfereus/Magister Artium degree to be considered for entry to postgraduate research programmes. Applicants with lower grades than this may be considered on an individual basis.

Holders of the Licenciado or an equivalent professional title from a recognised Ecuadorian university may be considered for entry to a postgraduate degree programme. Grades of 70% or higher can be considered as UK 2.1 equivalent.  Applicants for PhD level study will preferably hold a Magister/Masterado or equivalent qualification, but holders of the Licenciado with excellent grades can be considered.

Applicants for postgraduate research programmes should hold a Bachelors degree and a Masters degree, with a GPA of 3.0/4.0 or 75% from a recognised institution. Applicants with lower grades than this may be considered on an individual basis.

Holders of a good Bakalaurusekraad from a recognised university with a minimum overall grade of 4/5 or B, or a good one- or two-year Magistrikraad from a recognised university, will be considered for entry to postgraduate research programmes.

Students who hold a Masters degree with very good grades (grade B, 3.5/4 GPA or 85%) will be considered for Postgraduate Diplomas and Masters degrees. 

Holders of a good Kandidaatti / Kandidat (old system), a professional title such as Ekonomi, Diplomi-insinööri, Arkkitehti, Lisensiaatti (in Medicine, Dentistry and Vetinary Medicine), or a Maisteri / Magister (new system), Lisensiaatti / Licenciat, Oikeustieteen Kandidaatti / Juris Kandidat (new system) or Proviisori / Provisor from a recognised Finnish Higher Education institution, with a minimum overall grade of 2/3 or 4/5, will be considered for entry to postgraduate research programmes.

Applicants for postgraduate research programmes should hold a should hold a Bachelors degree and will usually be required to have completed a Masters/Maîtrise with a minimum overall grade of 13 out of 20, or a Magistère / Diplôme d'Etudes Approfondies / Diplôme d'Etudes Supérieures Specialisées / Mastère Specialis, from a recognised French university or Grande École to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Holders of a Magister Artium, a Diplom or an Erstes Staatsexamen from a recognised university with a minimum overall grade of 2.5, or a good two-year Lizentiat / Aufbaustudium / Zweites Staatsexamen or a Masters degree from a recognised university, will be considered for entry to postgraduate research programmes.

Students who hold a Bachelor degree from a recognised institution will be considered for Postgraduate Diplomas and Masters degrees. Most taught Masters programmes require a minimum of an upper second class degree (2.1) with a minimum GPA of at least 3.0/4.0 or 3.5/5.0 Students who have completed a Masters degree from a recognised institution will be considered for PhD study.

Applicants for postgraduate research programmes should hold a good four-year Ptychio (Bachelor degree) with a minimum overall grade of 6.5 out of 10, from a recognised Greek university (AEI), and will usually be required to have completed a good Metaptychiako Diploma Eidikefsis (Masters degree) from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

4-year Licenciado is deemed equivalent to a UK bachelors degree. A score of 75 or higher from Universidad de San Carlos de Guatemala (USAC) can be considered comparable to a UK 2.1, 60 is comparable to a UK 2.2.  Private universities have a higher pass mark, so 80 or higher should be considered comparable to a UK 2.1, 70 is comparable to a UK 2.2

The Hong Kong Bachelor degree is considered comparable to British Bachelor degree standard. Students with bachelor degrees awarded by universities in Hong Kong may be considered for entry to one of our postgraduate degree programmes.

Students with Masters degrees may be considered for PhD study.

Holders of a good Alapfokozat / Alapképzés or Egyetemi Oklevel from a recognised university with a minimum overall grade of 3.5, or a good Mesterfokozat (Masters degree) or Egyetemi Doktor (university doctorate), will be considered for entry to postgraduate research programmes.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree, with a 60% or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Holders of the 4 year Sarjana (S1) from a recognised Indonesian institution will be considered for postgraduate study. Entry requirements vary with a minimum requirement of a GPA of 2.8.

Applicants for postgraduate research programmes should hold a Bachelors degree and a Masters degree, with a score of 14/20 or 70% from a recognised institution to be considered. Applicants with lower grades than this may be considered on an individual basis.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree from a recognised institution, with 100 out of 110 or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Students who hold the Maitrise, Diplome d'Etude Approfondies, Diplome d'Etude Superieures or Diplome d'Etude Superieures Specialisees will be considered for Postgraduate Diplomas and Masters degrees (14-15/20 or Bien from a well ranked institution is considered comparable to a UK 2.1, while a score of 12-13/20 or Assez Bien is considered comparable to a UK 2.2).

Students with a Bachelor degree from a recognised university in Japan will be considered for entry to a postgraduate Masters degree provided they achieve a sufficiently high overall score in their first (Bachelor) degree. A GPA of 3.0/4.0 or a B average from a good Japanese university is usually considered equivalent to a UK 2:1.

Students with a Masters degree from a recognised university in Japan will be considered for PhD study. A high overall grade will be necessary to be considered.

Students who have completed their Specialist Diploma Мамаң дипломы/Диплом специалиста) or "Magistr" (Магистр дипломы/Диплом магистра) degree (completed after 1991) from a recognised higher education institution, with a minimum GPA of 2.67/4.00 for courses requiring a UK lower second and 3.00/4.00 for courses requiring a UK upper second class degree, will be considered for entry to postgraduate Masters degrees and, occasionally, directly for PhD degrees.  Holders of a Bachelor "Bakalavr" degree (Бакалавр дипломы/Диплом бакалавра) from a recognised higher education institution, with a minimum GPA of  2.67/4.00 for courses requiring a UK lower second and 3.00/4.00 for courses requiring a UK upper second class degree, may also be considered for entry to taught postgraduate programmes.

Students who hold a Bachelor degree from a recognised institution will be considered for Postgraduate Diplomas and Masters degrees. Most taught Masters programmes require a minimum of an upper second class degree (2.1) with a minimum GPA of at least 3.0/4.0 or 3.5/50

Holders of a good Postgraduate Diploma (professional programme) from a recognised university or institution of Higher Education, with a minimum overall grade of 7.5 out of 10, or a post-2000 Magistrs, will be considered for entry to postgraduate research programmes.

Applicants for postgraduate research programmes should hold a Bachelors degree and a Masters degree, with a score of 16/20 or 80% from a recognised institution to be considered. Applicants with lower grades than this may be considered on an individual basis.

Holders of a Bachelors degree from a recognised university in Libya will be considered for postgraduate study. Holders of a Bachelors degree will normally be expected to have achieved score of 70% for 2:1 equivalency or 65% for 2:2 equivalency. Alternatively students will require a minimum of 3.0/4.0 or BB to be considered.

Holders of a good pre-2001 Magistras from a recognised university with a minimum overall grade of 8 out of 10, or a good post-2001 Magistras, will be considered for entry to postgraduate research programmes

Holders of a good Bachelors degree from a recognised Luxembourgish Higher Education institution with a minimum overall grade of 16 out of 20, or a Diplôme d'Études Supérieures Spécialisées (comparable to a UK PGDip) or Masters degree from a recognised Luxembourgish Higher Education institution will be considered for entry to postgraduate research programmes.

Students who hold a Masters degree will be considered for Postgraduate Diplomas and Masters degrees (70-74% or A or Marginal Distinction from a well ranked institution is considered comparable to a UK 2.1, while a score of 60-69% or B or Bare Distinction/Credit is considered comparable to a UK 2.2).

Holders of a Bachelors degree from a recognised Malaysian institution (usually achieved with the equivalent of a second class upper or a grade point average minimum of 3.0) will be considered for postgraduate study at Diploma or Masters level.

Holders of a good Bachelors degree from the University of Malta with a minimum grade of 2:1 (Hons), and/or a Masters degree, will be considered for entry to postgraduate research programmes.

Students who hold a Bachelor degree (Honours) from a recognised institution (including the University of Mauritius) will be considered for Postgraduate Diplomas and Masters degrees.  Most taught Masters programmes require a minimum of an upper second class degree (2:1).

Students who hold the Licenciado/Professional Titulo from a recognised Mexican university with a promedio of at least 8 will be considered for Postgraduate Diplomas and Masters degrees.

Students who have completed a Maestria from a recognised institution will be considered for PhD study.

Applicants for postgraduate research programmes should hold a Bachelors degree, licence or Maîtrise and a Masters degree, with a score of 14/20 or 70% from a recognised institution to be considered. Applicants with lower grades than this may be considered on an individual basis.

Students with a good four year honours degree from a recognised university will be considered for postgraduate study at the University of Birmingham. PhD applications will be considered on an individual basis.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree, with 60-74% or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Holders of a good Doctoraal from a recognised Dutch university with a minimum overall grade of 7 out of 10, and/or a good Masters degree, will be considered for entry to postgraduate research programmes.

Students who hold a Bachelor degree (minimum 4 years and/or level 400) from a recognised institution will be considered for Postgraduate Diplomas and Masters degrees.  Most taught Masters programmes require a minimum of an upper second class degree (2.1) with a minimum GPA of at least 3.0/4.0 or 3.5/5.0

Applicants for postgraduate research programmes should hold a good Bachelors degree from a recognised institution with a minimum GPA of B/Very Good or 1.6-2.5 for a 2.1 equivalency, and will usually be required to have completed a good Masters, Mastergrad, Magister. Artium, Sivilingeniør, Candidatus realium or Candidatus philologiae degree to be considered for entry to postgraduate research programmes. Applicants with lower grades than this may be considered on an individual basis.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree, with a CGPA of 3.0/4 or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Holders of a Bachelors degree from a recognised university in the Palestinian Territories will be considered for postgraduate study. Holders of Bachelors degree will normally be expected to have achieved a GPA of 3/4 or 80% for 2:1 equivalency or a GPA of 2.5/4 or 70% for 2:2 equivalency.    

Holders of the Título de Licenciado /Título de (4-6 years) or an equivalent professional title from a recognised Paraguayan university may be considered for entry to a postgraduate degree programme. Grades of 4/5 or higher can be considered as UK 2.1 equivalent.  The Título Intermedio is a 2-3 year degree and is equivalent to a HNC, it is not suitable for postgraduate entry but holders of this award could be considered for second year undergraduate entry or pre-Masters.  Applicants for PhD level study will preferably hold a Título de Maestría / Magister or equivalent qualification, but holders of the Título/Grado de Licenciado/a with excellent grades can be considered.

Holders of the Bachiller, Licenciado, or Título Profesional with at least 13/20 may be considered as UK 2.1 equivalent.  Applicants for PhD level study will preferably hold a Título de Maestría or equivalent qualification.

Holders of a good pre-2001 Magister from a recognised Polish university with a minimum overall grade of 4 out of 5, dobry ‘good’, and/or a good Swiadectwo Ukonczenia Studiów Podyplomowych (Certificate of Postgraduate Study) or post-2001 Magister from a recognised Polish university with a minimum overall grade of 4.5/4+ out of 5, dobry plus 'better than good', will be considered for entry to postgraduate research programmes.

Holders of a good Licenciado from a recognised university, or a Diploma de Estudos Superiores Especializados (DESE) from a recognised Polytechnic Institution, with a minimum overall grade of 16 out of 20, and/or a good Mestrado / Mestre (Masters) from a recognised university, will be considered for entry to postgraduate research programmes.

Applicants for postgraduate research programmes should hold a good Bachelors degree from a recognised Romanian Higher Education institution with a minimum overall grade of 8 out of 10, and will usually be required to have completed a Masters degree/Diploma de Master/Diploma de Studii Academice Postuniversitare (Postgraduate Diploma - Academic Studies) or Diploma de Studii Postuniversitare de Specializare (Postgraduate Diploma - Specialised Studies) to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Holders of a good Диплом Специалиста (Specialist Diploma) or Диплом Магистра (Magistr) degree from recognised universities in Russia (minimum GPA of 4.0) will be considered for entry to taught postgraduate programmes/PhD study.

Students who hold a 4-year Bachelor degree with at least 16/20 or 70% will be considered for Postgraduate Diplomas and Masters degrees.   

Students who hold a Maitrise, Diplome d'Etude Approfondies,Diplome d'Etude Superieures or Diplome d'Etude Superieures Specialisees will be considered for Postgraduate Diplomas and Masters degrees. A score of 14-15/20 or Bien from a well ranked institution is considered comparable to a UK 2.1, while a score of 12-13/20 or Assez Bien is considered comparable to a UK 2.2

Students who hold a Bachelor (Honours) degree from a recognised institution with a minimum GPA of 3.0/4.0 or 3.5/5.0 (or a score of 60-69% or B+) from a well ranked institution will be considered for most our Postgraduate Diplomas and Masters degrees with a 2:1 requirement.

Students holding a good Bachelors Honours degree will be considered for postgraduate study at Diploma or Masters level.

Holders of a good three-year Bakalár or pre-2002 Magister from a recognised Slovakian Higher Education institution with a minimum overall grade of 1.5, B, Vel’mi dobrý ‘very good’, and/or a good Inžinier or a post-2002 Magister from a recognised Slovakian Higher Education institution will be considered for entry to postgraduate research programmes.

Holders of a good Diploma o pridobljeni univerzitetni izobrazbi (Bachelors degree), Diplomant (Professionally oriented first degree), Univerzitetni diplomant (Academically oriented first degree) or Visoko Obrazovanja (until 1999) from a recognised Slovenian Higher Education institution with a minimum overall grade of 8.0 out of 10, and/or a good Diploma specializacija (Postgraduate Diploma) or Magister (Masters) will be considered for entry to postgraduate research programmes.

Students who hold a Bachelor Honours degree (also known as Baccalaureus Honores / Baccalaureus Cum Honoribus) from a recognised institution will be considered for Postgraduate Diplomas and Masters degrees. Most Masters programmes will require a second class upper (70%) or a distinction (75%).

Holders of a Masters degree will be considered for entry to postgraduate research programmes.

Holders of a Bachelor degree from a recognised South Korean institution (usually with the equivalent of a second class upper or a grade point average 3.0/4.0 or 3.2/4.5) will be considered for Masters programmes.

Holders of a good Masters degree from a recognised institution will be considered for PhD study on an individual basis.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree, with 7 out of 10 or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Applicants for postgraduate research programmes should hold a Bachelors degree and will usually be required to have completed a Masters degree, with 60-74% or a CGPA 3.30/4.0 or higher for 2:1 equivalency from a recognised institution to be considered for entry. Applicants with lower grades than this may be considered on an individual basis.

Holders of a good Kandidatexamen (Bachelors degree) or Yrkesexamen (Professional Bachelors degree) from a recognised Swedish Higher Education institution with the majority of subjects with a grade of VG (Val godkänd), and/or a good Magisterexamen (Masters degree), International Masters degree or Licentiatexamen (comparable to a UK Mphil), will be considered for entry to postgraduate research programmes.

Holders of a good "PostGraduate Certificate" or "PostGraduate Diploma" or a Masters degree from a recognised Swiss higher education institution (with a minimum GPA of 5/6 or 8/10 or 2/5 (gut-bien-bene/good) for a 2.1 equivalence) may be considered for entry to postgraduate research programmes.

Applicants for postgraduate research programmes should hold a Bachelors degree and a Masters degree, with a GPA of 3.0/4.0, 3.5/5 or 75% from a recognised institution to be considered. Applicants with lower grades than this may be considered on an individual basis.

Holders of a good Bachelor degree (from 75% to 85% depending upon the university in Taiwan) from a recognised institution will be considered for postgraduate Masters study. Holders of a good Masters degree from a recognised institution will be considered for PhD study.

Students who hold a Bachelor degree from a recognised institution will be considered for Postgraduate Diplomas and Masters degrees.  Most taught Masters programmes require a minimum of an upper second class degree (2.1) Students who have completed a Masters degree from a recognised institution will be considered for PhD study.

Holders of a good Masters degree from a recognised institution will be considered for entry to our postgraduate research programmes.

Holders of a good Masters degree or Mphil from a recognised university will be considered for entry to postgraduate research programmes.

Students with a Bachelors degree from the following universities may be considered for entry to postgraduate programmes:

• Ateneo de Manila University - Quezon City
• De La Salle University - Manila
• University of Santo Tomas
• University of the Philippines - Diliman

Students from all other institutions with a Bachelors and a Masters degree or relevant work experience may be considered for postgraduate programmes.

Grading Schemes

1-5 where 1 is the highest 2.1 = 1.75 2.2 = 2.25 

Out of 4.0 where 4 is the highest 2.1 = 3.0 2.2 = 2.5

Letter grades and percentages 2.1 = B / 3.00 / 83% 2.2 = C+ / 2.5 / 77%

Holders of a postdoctoral qualification from a recognised institution will be considered for PhD study.  Students may be considered for PhD study if they have a Masters from one of the above listed universities.

Holders of a Lisans Diplomasi with a minimum grade point average (GPA) of 3.0/4.0 from a recognised university will be considered for postgraduate study at Diploma or Masters level.

Holders of a Yuksek Diplomasi from a recognised university will be considered for PhD study.

Students who hold a Bachelor degree from a recognised institution will be considered for Postgraduate Diplomas and Masters degrees. Most Masters programmes will require a second class upper (2.1) or GPA of 3.5/5.0

Applicants for postgraduate research programmes should hold a good Bachelors degree / Диплом бакалавра (Dyplom Bakalavra), Диплом спеціаліста (Specialist Diploma) or a Dyplom Magistra from a recognised Ukrainian higher education institution with a minimum GPA of 4.0/5.0, 3.5/4, 8/12 or 80% or higher for 2:1 equivalence and will usually be required to have completed a good Masters degree to be considered for entry to postgraduate research programmes. Applicants with lower grades than this may be considered on an individual basis.

The University will consider students who hold an Honours degree from a recognised institution in the USA with a GPA of:

• 2.8 GPA (on a 4.0 scale) for entry to programmes with a 2:2 requirement 
• 3.2 GPA (on a 4.0 scale) for entry to programmes with a 2:1 requirement 

Please note that some subjects which are studied at postgraduate level in the USA, eg. Medicine and Law, are traditionally studied at undergraduate level in the UK.

Holders of the Magistr Diplomi (Master's degree) or Diplomi (Specialist Diploma), awarded by prestigious universities, who have attained high grades in their studies will be considered for postgraduate study.  Holders of the Fanlari Nomzodi (Candidate of Science), where appropriate, will be considered for PhD study.

Holders of the Licenciatura/Título or an equivalent professional title from a recognised Venezuelan university may be considered for entry to a postgraduate degree programme. Scales of 1-5, 1-10 and 1-20 are used, an overall score of 70% or equivalent can be considered equivalent to a UK 2.1.  Applicants for PhD level study will preferably hold a Maestria or equivalent qualification

Holders of a Bachelors degree from a recognised Vietnamese institution (usually achieved with the equivalent of a second class upper or a grade point average minimum GPA of 7.0 and above) will be considered for postgraduate study at Diploma or Masters level.  Holders of a Masters degree (thac si) will be considered for entry to PhD programmes.

Students who hold a Masters degree with a minimum GPA of 3.5/5.0 or a mark of 2.0/2.5 (A) will be considered for Postgraduate Diplomas and Masters degrees.   

Students who hold a good Bachelor Honours degree will be considered for Postgraduate Diplomas and Masters degrees. 

International Students

English requirements are IELTS 7.0 with no less than 6.5 in any band or equivalent.

Members of the Department of Finance can offer supervision within the following areas.

Corporate Finance

Capital structure decision making including interactions between corporate investment and dividend/capital structure decisions. Issues relating to capital structure and firm performance and the study of agency costs. The examination of corporate events such as  stock repurchases, corporate restructuring, mergers and acquisitions ,IPOs, delistings and financial distress & bankruptcy. Entrepreneurial finance, debt and equity gaps, venture capital and private equity, financial flexibility in firms and R&D smoothing.

Capital  Markets

Within the field of capital markets we can offer supervision which examines debt maturity, and a wide range of market microstructure topics including those relating to liquidity and liquidity risk, market architecture and the trading environment, as well as microstructure effects associated with the international cross-listing of securities.  The use of derivatives for risk management. Islamic Finance. Institutional investment, portfolio investment, risk and investment volatility

Financial Regulation and Corporate Governance

Corporate governance – including shareholder voting, engagement, stock lending, communication within the board of directors, and board behaviour and performance, executive compensation. Agency conflicts. The use of the interbank market as a regulatory device, Basel III and new rules for global finance,.

Banking and Financial Services

Doctoral researchers in Finance are registered for a full time 3-year PhD or a part-time 6-year PhD. In the first year of the programme doctoral researchers are required to take Econometrics with Financial Applications module from the Department of Economics (30 credit module). They also need to take at least one of the existing MSc Investments and MSc Accounting and Finance courses and one other module to successfully complete 60 credits of study. The MSc module and one other appropriate M or D level module should be chosen in agreement with the doctorial researcher’s supervisor, as appropriate for the their research topic.  Modules available include: Financial Modelling and Forecasting Techniques (20 credits), Empirical Topics in Accounting and Finance (20 credits) and Quantitative Methods in Finance (10 credits). Doctoral researchers are also recommended to take Advanced Training Modules from the MA Social Research Programme or other modules (e.g. Qualitative Methods) as appropriate to their research and training needs.

By the end of their first year doctoral students will have completed an 8,000 word research proposal that they will present and be evaluated on at the first annual review. This forms the basis for supervised research over the remaining two years of the programme and the production of an 80,000 word thesis.

Career prospects

PhD graduates from Birmingham Business School are working in central banks, Government departments, a variety of financial institutions, accountancy firms, supranational organisations and multinational corporations. Many of our PhD graduates also go on to forge successful academic careers in other top Universities.

Doctoral Research career assistance

The University of Birmingham has invested heavily in careers and employability support. The Careers Team have been praised for enhanced developments within their team and for adopting a model of integrated employability and internship support; something that has been rolled out and implemented across all Schools and Colleges at the University.

Doctoral researchers at Birmingham Business School benefit from its own well qualified dedicated Careers Team to support students with employment opportunities, work placements, internships and how to succeed at interview. In addition, a range of career management, personal development and employer events are run each year by the Careers in Business Team to help you make the most of the opportunities available.

The University also has dedicated careers advisors for international students  who run workshops and networking opportunities with potential employers. These are especially popular with international postgraduate researchers.

• Online chat events

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Mphil/phd in development economics.

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Key information

Home student fees (full-time) : £4,860 per year Home student fees (part-time) : £2,430 per year Overseas student fees (full-time) : £22,490 per year Overseas student fees (part-time) : £11,245 per year

Please note that fees go up each year.   See  research fees  for further details.

Admission and thesis requirements. A good Masters degree in Economics plus one reference is usually required. Students are normally registered for the MPhil degree in the first instance. Once approval of the Research Student's Supervisory Committee has been received, the student's registration is upgraded to PhD status (and backdated to the commencement of the MPhil registration), usually at the end of the first year of study, for which the minimum registration period is double that of full-time study. Candidates are expected to present a thesis of not more than 55,000 words for the MPhil, while for the PhD the maximum length is 100,000 words. International applicants should also see  Doctoral School English language requirements

Course overview

The PhD in Development Economics is a research degree offered by the Department of Economics, and is also part of the PhD pathway, 'International Development', within the Bloomsbury Doctoral Training Partnership.

The latter forms one of the few Centres recognised by the UK's Economic and Social Research Council (ESRC), thereby receiving financial support, and especially individual grants, for MSc and PhD students.

Why study PhD Development Economics at SOAS?

• We are ranked 27th in UK for economics (QS World University Rankings 2023)
• We are top 20 in the UK for student satisfaction with teaching (Complete University Guide 2023)
• We are top 40 in the UK for economics (Complete University Guide 2023)
• This PhD pathway is open to applicants whether or not eligible for, or in receipt of, ESRC funding, with ESRC-funded students expected to form a small minority overall. Successful applicants to the MPhil/PhD in Development Economics will normally have a good Master's degree in a relevant subject if entering directly into the MPhil/PhD pathway although each applicant is assessed on merits including work and other experience
• The first year of training involves attendance at courses and/or seminars but not usually formal written examinations. Students are registered for an MPhil in their first (full-time equivalent) year but usually convert to a PhD after their upgrade viva rather than continuing to the MPhil qualification
• An essential feature of the MPhil and PhD process is the close working relationship between research students and supervisors. Supervisors and students meet regularly and consult closely. All research students have a Supervisory Committee to cover theoretical, empirical and regionally-specific supervision, as appropriate

Research student tutors

There are Research Student Tutors with overall responsibility for research students, who are available for discussion of general problems. And the Departmental Empirical Support Committee (DESC) offers detailed and individual advice to students about fieldwork and empirical analysis as appropriate.

As necessary, upon request, DESC will consider individual student needs and allocate one or more members of staff (not necessarily the supervisor) to advise.

Workshop/seminar

Students are required to participate in a workshop/seminar in which research topics and results are presented and discussed by staff and students. In addition, there is a regular Departmental seminar, to which members of the Department and visiting speakers present papers.

There is a strong interdisciplinary basis for research and teaching in political economy, development economics and area or specific country studies. London, moreover, provides an unrivalled opportunity for students to hear papers read by leading authorities in African and Asian studies, as well as in economics and development more generally.

Many SOAS research students spend some time doing fieldwork in the regions of their research. The Faculty of Law and Social Sciences and the School as a whole, through their various connections with individuals and institutions in the universities and governments of Asia and Africa, can usually facilitate this with personal contact and introductions.

Scholarships, funding and ESRC recognition

There are a number of scholarships available to research (and MSc) students at SOAS. Please see Scholarships and Bursaries for further information. But it is a condition of acceptance that students embarking upon a research degree have the capacity to fund the full duration of their studies. There may be some paid opportunities for teaching, normally not in the first year, but these cannot be relied upon and will not begin to cover fees and maintenance fully.

The research degree embodies a core of training in research methods combined with a clear structure of progression thereafter. The training components are explained below. The duration and structure of the research degree will be as follows:

Full time research degree: 3 years plus 1 year writing up

Year 1 -  research training.

Research students will take the 'Research Methods for Development Economics' course in the Economics Department.

Year 1 -  Upgrade

Students will normally be expected to pass an upgrade from MPhil to PhD status within 9 months of commencing the degree.

Year  2-3 -  Research

Core research undertaken; primary and secondary data collection as appropriate, thesis chapters finalised.

Year 4 -  Write up

If necessary a fourth year can be taken to write the final thesis. Examination of the thesis will take place after submission within the 4th year.

Part-time research degree: 6 years, plus 1 year writing up

The research degree can be undertaken over 6 years:

• Research Methods course must be taken over the first two years.
• Upgrade  will take place withing the 21 months after initial registration.
• Examination  will take place after submission within the writing-up year (year 7) at the latest.

Important notice

The information on the website reflects the intended programme structure against the given academic session. The modules are indicative options of the content students can expect and are/have been previously taught as part of these programmes. However, this information is published a long time in advance of enrolment and module content and availability is subject to change.

Teaching and learning

Research training in development economics.

All research students are expected to attend a dedicated research student seminar. In addition, a separate programme of research training is offered for first-year students. The sessions will deal with theoretical and methodological issues in Economics and Development Economics, as well as subject-specific guidance on other generic research skills (such as literature reviews, fieldwork planning).

In addition, students will attend a termly Development Economics research day, where there will be a mediated discussion of theoretical and methodological issues faced and an opportunity for students to present their own research. Students will also attend the general Research Students Seminar that provides a range of input for all stages in the completion of a PhD and Early Career Development for Development Economists.

• to encourage and enable students to complete an original thesis in the expected time.
• to provide training and experience in fieldwork and across a variety of schools of economics and in a variety of statistical techniques.
• to allow flexibility in training to suit students with different backgrounds and subsequent research needs.
• to make available and to monitor first class research supervision with the involvement of at least two members of staff through individual Research Student Supervisory Committees.
• to encourage knowledge of other relevant disciplines and the adoption of an interdisciplinary approach where appropriate.
• to equip students with the ability to assess one another's work critically, whether in response to written or spoken presentation.
• to obtain language skills as appropriate.
• to ensure students experience a congenial and productive environment for the conduct of research through availability of a wide range of facilities and full participation in the intellectual life of the Department and School.  Library facilities are outstanding and computing facilities are attuned to student needs.
• to emphasise the relevance of research to theoretical, empirical and policy issues.
• to draw upon the Department's particular strengths, especially its expertise in different approaches to economic problems and its experience in problems of development, specific regions, and comparative analysis.
• to involve students in the specialised Centres of the School where appropriate.
• to advise on publication and career progression.

A broader student-tailored programme of training needs can also be established in the first weeks of study, with a range of courses available from the Department’s MSc programmes. To this end, all students should undertake a Training Needs Analysis with their supervisor in the first weeks of Term 1 .

Supervision

1. The role of the second and third members of the Supervisory Committee (SC) Will be focused on the following two core tasks:

• Participate in the upgrade process of the student, including the final decision relating to his/her transfer from MPhil to PhD.
• Participate in other dicisions relating to his/her eligibility for enrolment on Extension of Writing-up (Continuation) Status or, where necessary, termination of registration.

2. In addition to these core roles, the second and third members of the SC may be expected to:

• Enhance or augment the supervision of the student by contributing addition guidance and expertise, if required/sought by the student and/or the supervisor throughout the time of active research.
• To act on behalf of the supervisor during unforeseen periods of absence. This role will have be agreed by consent of all parties (student, supervisor and the two members of the SC) and one of the two members will be designated as cover in absence for the period in question.

3. Only rarely is joint supervision allowed, for which a strong case would need to be made. Whilst the primary responsibility for guiding student's research and to review written work and progress rests with the supervisor, once upgrade is successfully completed, other members of the supervisory committee must receive the student’s thesis drafts at appropriate times, with support also available to students from the Departmental Empirical Support Committee (DESC).

Computing facilities

Full computing facilities are available to postgraduate students. Computers dedicated for the use of research students in the Economics Department are also available. Software available includes word-processing and specialised statistical, econometrics and spreadsheet packages. The School’s computing staff are on hand to assist with general computing problems.

SOAS Library

SOAS Library is one of the world's most important academic libraries for the study of Africa, Asia and the Middle East, attracting scholars from all over the world. The Library houses over 1.2 million volumes, together with significant archival holdings, special collections and a growing network of electronic resources.

Scholarships

Fees and funding

Fees for 2023/24 entrants per academic year.

Please note that fees go up each year.

See  research fees  for further details.

Economics graduates leave SOAS with a solid grounding in statistical skills and an ability to think laterally, take a global perspective, and employ critical reasoning.

Recent graduates have been hired by:

• Bain & Co
• Bank of America
• Cabinet Office
• Ernst & Young
• NHS England
• Foreign and Commonwealth Office
• Department for Business, Energy and Industrial Strategy
• National Institute of Public Finance and Policy, New Delhi
• UK Civil Service
• United Nations High Commissioner for Refugees (UNHCR)
• University of Bayreuth
• HM Treasury
• Department for International Development
• King’s Investment Fund
• The World Bank
• British Chamber of Commerce
• European Commission
• Institute for Social and Economic Studies
• International Climate Change Economics
• Overseas Development Institute

Find out about our  Careers Service

SOAS Voices

Precarity on two wheels: Keep in motion to maintain the balance

The rise of ride-hailing apps in Indonesia has absorbed informal labour into the gig economy. Kafi Prasetya explores the labour conditions within this sector to assess their impact on the social welfare of the workers.

Will AI help us out of the productivity slump?

Economics PhD student Thabo Huntgeburth explores how AI may worsen the productivity slump, instead exacerbating wage inequality and economic stagnation.

When one thing leads to nothing: Cultivating industrial ecosystems in an era of GVCs

Postgraduate student Shiran Illanperuma reflects on the challenges of industrialization in an era of Global Value Chains. Using China and Sri Lanka as contrasting examples, he argues for the need for activist industrial policies to incentivize domestic value addition and the participation of local firms in the Global South.

Powering Production: A Developmental Energy Transition for Africa

The SOAS Centre for Sustainable Structural Transformation (CSST) held its first bi-annual conference, themed “Powering Production: A Developmental Energy Transition for Africa.”

Financial inclusion in Kenya: Why going beyond access is crucial

While mobile money revolutionised access to financial services, the rise of digital credit products presents new challenges. Dr Thereza Balliester Reis and Yaerin Yoon explore the progress made, the emerging risks and the path forward to ensure financial stability and resilience.

Why clientelistic politics matter for development prospects

New research by Dr Miguel Niño-Zarazúa explores the complex effects of clientelism on economic development, state capacity, and governance.

Climate Risk and Sustainable Finance Development in Thailand

Business models.

This research focuses on understanding the emerging business models and how innovation and venture capital investments, can promote sustainable structural transformation in Africa.

Industrial policy

This research focuses on how governments can reshape industries creating new markets and building productive coalitions, to direct the economy towards sustainable prosperity.

Infrastructure development

This research focuses on how government and private sector can cooperate in building the infrastructure for sustainable energy system and mobility system.

Restructuring of supply chains

This research focuses on how supply networks should be re-organised and developed for development of mobility- and energy-related industries in Africa.

Critical minerals

This research focuses on how African economies should manage the relationships with international mining companies promoting socio-economic development.

Energy transition

This research approaches the issue of energy transition in Africa, investigating the existence of feasible opportunities to realise green industrialisation in Africa.

Unlocking finance and managing climate risks for India’s transition to a resilient, Paris-aligned economy

This project, led by the Climate Bonds Initiative (CBI), aims at engaging with and supporting the Reserve Bank of India (RBI) on climate-related issues.

Political Economy Analysis of Food Industry (PEAFI)

Debt relief for a green and inclusive recovery.

The Debt Relief for a Green and Inclusive Recovery Project is a collaboration between the SOAS Centre for Sustainable Finance, the Boston University Global Development Policy Center and the Heinrich-Böll-Stiftung. Utilizing rigorous research, the DRGR Project seeks to develop systemic approaches to both resolve the debt crisis and advance a just transition to a sustainable, low-carbon economy in partnership with policymakers, thought leaders and civil society around the world.

Scaling Up Green Investment in the Global South: Strengthening Domestic Financial Resource Mobilisation and Attracting Patient International Capital

The research project will provide evidence-based analysis that will help to design policies that will support the scaling up of sustainable investment in the Global South.

INSPIRE Sustainable Central Banking Toolbox Policy Briefing Paper Series

Policy briefing paper series designed to support central bankers and financial supervisors in calibrating monetary, prudential and other instruments in accordance with sustainability goals.

Central banking and climate change: the case of Bangladesh

In this lecture, Former Governor of Bangladesh Bank Dr. Atiur Rahman will talk about the innovative initiatives that Bangladesh Bank took under his leadership in 2009-2016 to mainstream environmental and social concerns in central banking.

Related content

Department of Economics

The Department of Economics at SOAS University London.

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The University Network for Strengthening Macro-financial Resilience to Climate and Environmental Change.

PhD in Finance

PhD in Finance at the ICMA Centre.

At a glance

• No. 17 in the UK for the impact of our research in Business and Management (Research Excellence Framework exercise 2021)
• 100% of the research environment is considered as ‘world-leading’ or ‘internationally excellent’ for research vitality and sustainability (Research Excellence Framework exercise 2021)
• Dedicated study area for all ICMA Centre postgraduate researchers
• Access to key databases and statistical software including WRDS, Thomson One, Bloomberg, TR Eikon, Datastream, SAS, Stata, Matlab, Python, Eventus

Deadline for Henley Business School Scholarship applications: 15th March 2024

Deadline for ICMA Centre Departmental Scholarship applications: 15th April 2024

We seek highly motivated individuals with an appropriate academic background (generally a Distinction at MSc level in a finance-related subject) from a good university. We encourage applied and relevant research and our strong connections with many financial firms allow students to gain industry experience during their doctoral research, if they wish.

Candidates interested in applying for a funded place should list the Henley Business School Scholarship in the funding section of their application. Successful candidates will receive research training, will be required to take relevant University courses on teaching and embed that learning by acting as teaching assistants.

List of topics

• Algorithmic Trading and Trade Execution Strategies
• Alternative Investments
• Asset Backed Securities
• Asset Pricing
• Behavioural Finance
• Climate Financial Risk
• Commodity Markets
• Corporate Finance and Governance
• Cryptocurrencies
• Emerging and Frontier Markets
• Empirical Asset Pricing with Liquidity and Uncertainty Premia
• Empirical Credit Risk
• Empirical Market Microstructure
• Financial / Economic History
• Financial Econometrics
• Financial Engineering
• Financial Regulation
• Financial Risk Management
• Gender in Finance
• Government Bond Issuing and Trading
• Green Finance / Climate Finance
• Green, Social and Sustainability Bonds
• High Frequency Econometrics
• Institutional Investors
• Investors Behaviour and Decision Making
• Liquidity Risk
• Loan Syndication
• Machine Leaning in Finance
• Macroeconomic and financial market uncertainty
• Macroeconomic forecasting and survey expectations
• Mergers & Acquisitions
• Money Markets
• Option Pricing
• Pension Schemes
• Portfolio Management and Performance Assessment
• Quantitative Finance
• Retail Investors
• Small and Medium Enterprises
• Socially Responsible Investing
• Sports Finance
• Stock Index Futures
• Textual Analysis
• The effect of information on financial markets
• Volatility and Correlation Modelling

Course structure Open

A PhD is usually taken on a full-time basis over three to four years. The programme starts in September at the beginning of the academic year. However, if necessary for your training, you may be required to come to the University earlier to attend some preparatory courses.

Year One : You will have to attend courses examined according to university rules. These courses include Research Methods and other courses required for your area of concentration;

Confirmation of Registration : During your second year, you will be required to defend your fully developed Research Proposal, consisting of a substantive document of around 10,000 words;

Year Two - Three : The remaining part of your PhD studies will be devoted to complete your thesis before your viva examination at the end of your three to four years (maximum amount of time allowed by university rules).

During your first year of studies, you will be required to:

• Attend at least 60 credits from PhD/Masters level courses in Research Methods and other relevant courses plus a no-credit bearing course (see below)
• Attend some short courses (two -three hours each) required for the Reading Researcher Development Programme at the Graduate School (overseeing PhD studies within the University of Reading)
• Attend the Preparing to Teach training programme (which is necessary to be able to complete any teaching-related activities within Henley Business School)
• Participate in weekly research seminars organised by your Department and others relevant to your area of interest
• Hold regular meetings with your supervisor(s)
• Contribute to Business School and Departmental teaching/research activities and events.

Confirmation of Registration

During your second year you will submit a substantive Research Proposal of around 10,000 words that will be defended in front of Faculty members and/or assessed by independent examiners. This process will coincide with your confirmation of registration and, if successful, it will grant you the status of PhD candidate.

The Research Proposal will be a significant development of the initial proposal you submitted for your application. It will include material you may have produced during the first year courses in research methods (e.g. literature review, methodologies, data description, etc.). If you plan to do a PhD thesis combining three papers, you are expected to include a draft of the first paper in your Research Proposal. Alternatively, if you intend to use a book-like structure for your thesis, the document should include the draft of at least one of the three/four key chapters.

Year Two & Three

During your second and third year you will:

• Continue to work on your PhD dissertation drafting the other two papers / key chapters
• Attend some short courses (two - three hours each) required for the Reading Researcher Development Programme at the Graduate School
• Contribute to Business School and Departmental teaching/research activities and events
• Present posters/papers at national/international conferences.

Modules or course content marked as optional are indicative and may be subject to change. Please note, constraints in timetable scheduling may mean you are unable to take some optional modules at the same time as others.

Entry requirements Open

The key requirements for a successful application are:

• Top grades in your Masters degree (minimum requirement is Merit or equivalent, but we prefer Distinction)
• Top grade in your Masters Dissertation (or equivalent research-based piece of work) because this may demonstrate your research attitude and skills
• identify the motivation of your study
• place it within relevant literature highlighting the current gap and potential research questions
• state your intended methodology show understanding of the data (if any) necessary to accomplish your study and relevant sources. This aspect will also reveal the feasibility of your study.
• A reasonable intended timeline reflecting issues you may encounter in the study as presented above (for example, if you have to collect primary data, the time spent on data collection will be much longer than the one you would spend if you intend to use secondary data sources).

English requirements

If English is not your first language, you may be required to take one of the following:

• TOEFL (Test of English as a foreign language): Overall score of 100 with no less than 20 in Listening, Writing and Reading and 21 in Speaking
• IELTS (British Council International English Language Test): Score of 6.5 overall with no component less than 6 when attending the six-week pre-sessional English course offered by the University of Reading. Entry to this pre-sessional course with a score of 6.5 fulfils your English language requirement.

Please note that students not attending a Pre-Sessional course will need to pass IELTS with an overall score of 7 and no component less than 6.0. For more options please see the International Study and Language Website or email a member of the Postgraduate Admissions team.

How to apply Open

The application process normally consists of three main steps :

• Before applying formally you may want to contact a potential supervisor who is working in your area and could be interested in your topic
• Please avoid contacting multiple faculty members simultaneously. We do talk to each other and this is not seen as a professional practice.
• An evaluation of your suitability for the programme based on the documents you uploaded in your application.
• If you meet the entry requirements and we can match you with a supervisor you will be formally interviewed to assess your suitability to pursue a PhD at the ICMA Centre.

The deadline for applications to be considered is the 30th April 2023

You should upload the following items to your online application:

• your curriculum vitae
• research proposal
• copies of relevant academic transcripts.

Fees & funding Open

For fees, please visit the Graduate School website .

Overseas applicants should refer to the non-laboratory based fees listed in the tables (International Band 1 for non UK/Home students).

Scholarships

ICMA Centre funded places for 2024 entry are now available to apply for. Candidates interested in applying should list the Henley Business School Scholarship in the funding section of their application.

Further PhD funding

• Nationals from India and developing countries : The Felix Scholarship competition is open to candidates applying for either taught Masters or Postgraduate Research Degrees who are either Indian nationals, or from developing countries, and who fulfil the required criteria. For more information and how to apply please follow the link
• Regional PhD Bursaries : They are available for PhD applicants normally living within 25 miles of the University. The scheme is not open to students who have already started their study at the University of Reading. For further information, please go to Graduate School website
• Former UoR Graduate : If you have already studied at the University of Reading you will get up to £1,500 off programme fees through the alumni fee discount
• Other : For information on further opportunities, please see the find funding section on our University website.

Current scholarships

Icma centre departmental scholarships, former university of reading graduate, regional phd bursaries, henley business school scholarships, careers, accreditation & progression open.

Recent PhD graduates have secured academic positions at UK Universities such as Oxford, Manchester, Kings College London, Cardiff, Bath, Sussex, Surrey and East Anglia. Academic roles have also extended to international universities such as ESCP Europe, Hamburg, University College Dublin and Goethe University of Frankfurt.

PhD graduates have taken industry positions at employers such as Allianz, Barclays, Credit Suisse, Deloitte, Deutsche Bank, London Business Bank, NAFMII, Oxford Risk and Sociovestix Labs.

How can Henley Careers work with you?

We have an award winning careers team to support you through your time here and four years after graduating from us.

Henley Careers run numerous events throughout the autumn and spring terms to help you gain industry experience, enhance your professional development and network with employers. We also offer one-to-one career coaching appointments where you can talk to a Careers Consultant about anything related to your professional development – whether it’s planning your ideal career journey, building confidence in a particular area, practicing for interviews or having your CV checked.

For more information please see our Careers page.

Why Choose ICMA Centre? Open

The ICMA Centre is among the pioneers in finance education and renowned for its strong links with the financial services industry. The Centre was ranked number 7 in the UK for its Masters in Finance programme in 2023 ( Financial Times Masters in Finance Ranking ). It is also part of Henley Business School – among an elite group of 75 business schools in the world to hold triple-accredited status from the leading UK, European and US accrediting bodies: AMBA, EQUIS and AACSB.

The Centre’s unique practice centred approach includes a number of finance education innovations. These will provide you with a solid grounding for a career in the industry. The approach aims to equip you with a skill set that sets you apart from graduates of other finance programmes. Your employability track record is also bolstered by an in-house comprehensive career development programme.

Reading has proximity to the world’s top financial centre (25 minutes from London Paddington). Several leading professional bodies including the CFA, CISI, GARP and ICS validate our programmes and offer exam exemptions to our students.

Joining one of the top schools of finance in Europe, you will benefit from state-of-the-art facilities . You will have access to the latest technology and will be taught by world-renowned faculty and industry experts. Our innovative teaching and learning environment includes trading and financial analysis simulations. We also have the latest financial data and programming software. Our three dealing rooms are one of the largest facilities of its kind in the world. They provide an ideal setting for understanding how businesses and markets function in practice. Our students’ learning experience is a top priority for academic faculty and administrative staff at the ICMA Centre. This is reflected in the latest student satisfaction rates in the PTES and NSS student surveys.

If you have any questions about admissions, please don't hesitate to contact us.

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Finance and Technology MPhil/PhD

London, Stratford (UCL East)

In a rapidly evolving world, new technologies present both challenges and opportunities that require innovative solutions. The Institute of Finance & Technology (IFT) is dedicated to meeting these challenges and harnessing the power of finance in addressing pressing societal issues and is committed to shaping the future of finance through cutting-edge research and education. Our PhD programme is designed to empower the next generation of academics to develop novel financial models that seamlessly integrate technical, environmental, and social dimensions into financial mechanisms. At IFT, we nurture visionaries who will lead the way in transforming finance for the betterment of society.

UK tuition fees (2024/25)

Overseas tuition fees (2024/25), programme starts, applications accepted.

Applications closed

• Entry requirements

A minimum of an upper second-class Bachelor’s degree from a UK university in a subject appropriate to the chosen field, or an overseas qualification of an equivalent standard.

The English language level for this programme is: Level 1

UCL Pre-Master's and Pre-sessional English courses are for international students who are aiming to study for a postgraduate degree at UCL. The courses will develop your academic English and academic skills required to succeed at postgraduate level.

Further information can be found on our English language requirements page.

Equivalent qualifications

Country-specific information, including details of when UCL representatives are visiting your part of the world, can be obtained from the International Students website .

International applicants can find out the equivalent qualification for their country by selecting from the list below. Please note that the equivalency will correspond to the broad UK degree classification stated on this page (e.g. upper second-class). Where a specific overall percentage is required in the UK qualification, the international equivalency will be higher than that stated below. Please contact Graduate Admissions should you require further advice.

About this degree

The Institute of Finance & Technology (IFT) stands at the forefront of addressing the evolving landscape of finance in the 21st century. In an era characterised by the convergence of finance and technology, we recognise the need for innovative approaches and interdisciplinary analyses to harness the potential of this transformation.

Our vision is to reposition finance as a potent tool in addressing pressing societal challenges. We achieve this by cultivating the next generation of academic leaders through our cutting-edge PhD programme. This programme is not just about finance; it's about pioneering new financial models that integrate technical, environmental, and social dimensions into financial mechanisms, equipping our scholars with the skills and knowledge needed to reshape the financial industry.

The global financial sector is undergoing a profound revolution driven by disruptive innovations and rapid technological advancements. As the finance landscape continues to evolve at breakneck speed, it's imperative that academic institutions adapt and align their programmes with these dynamic changes. IFT has emerged as a beacon of excellence in this regard.

Our commitment to staying at the forefront of financial innovation led us to collaborate closely with industry and government professionals from renowned institutions. These partnerships have played a pivotal role in shaping our programmes, ensuring that our students not only keep pace with the financial industry's advancements but also become pioneers who set new standards.

At IFT, our educational philosophy transcends traditional classroom learning. We believe in the integration of practical experiences, research endeavours, and industrial insights to foster the development of students' commercial competencies. Our programmes are carefully crafted to offer a holistic educational experience that equips students with the skills to navigate complex financial environments, develop innovative solutions, and make a positive impact on society.

With a focus on cutting-edge technologies and interdisciplinary collaboration, the UCL Institute of Finance & Technology is the ideal destination for those who aspire to shape the future of finance and address the world's most pressing challenges through innovative financial models and approaches. Join us on this transformative journey in finance and technology.

Who this course is for

Before registering for this MPhil/PhD programme, you must initially have successfully a minimum of an upper second-class Bachelor’s degree from a UK university in a subject appropriate to the chosen field, or an overseas qualification of an equivalent standard.

What this course will give you

At the Institute of Finance & Technology (IFT), our degree programmes offer a wealth of benefits that prepare students for a dynamic and ever-changing future. Our visionary approach to finance focuses on addressing significant societal challenges through the development of cutting-edge financial models that incorporate technical, environmental, and social considerations. 

Throughout the academic year, we facilitate numerous social events to foster a sense of community among our students. Additionally, our upcoming Agora financial research seminar series promises to provide valuable insights and networking opportunities. In the third term, we host a special event where all PhD students showcase their research and development, creating a platform for intellectual exchange and growth.

At IFT, students will have the opportunity to learn from a distinguished staff comprising industry professionals and leading academics from UCL. These experts are actively engaged in innovative research, ensuring that our students receive a well-rounded education that combines theoretical knowledge with real-world insights. 

Graduates of our programmes are uniquely positioned to serve a wide array of institutions, from universal banks and mutual funds to investment banks, governments, central banks, and advisory organisations. Regardless of your prior experience or background, an IFT degree equips you with the tools and knowledge to excel in your chosen field.

In addition to the exceptional academic resources at IFT, students benefit from a comprehensive Doctoral Skills Development Programme and our affiliation with the Bloomsbury Postgraduate Skills Network. These programmes are designed to enrich your research and transferable skills, enhancing your capacity to excel in your research endeavours, advance professionally, and improve your employability. At IFT, we're dedicated to not only providing top-notch education but also fostering personal and professional growth that will enable you to make a meaningful impact in the world of finance and technology.

The foundation of your career

Upon completing our programme, graduates unlock a multitude of promising pathways. They seamlessly integrate into the workforce, finding placements in esteemed finance and technology giants.

With a comprehensive skill set and in-depth knowledge, graduates are poised to excel across various sectors, spearheading projects, influencing decisions, and contributing to the advancement of the finance and technology landscape. This degree not only opens doors to an array of prestigious employment opportunities but also sets a well-defined trajectory for a fulfilling and impactful career.

The core skill set you would obtain during your MPhil/PhD varies depending on your specific research project but the department provides a wide range of opportunities so that you are not limited to what your research projects offers.

Employability

Each of our students will be prepared for the future by learning from industry professors, as well as leading UCL academics active in innovative research. Our programmes produce graduates that will serve the needs of universal banks, mutual and pension funds, investment banks, governments, central banks and advisory organisations. Whatever your experience or background, you will leave UCL equipped with the tools to become a high achiever in your chosen field.

There are many training opportunities available via the Doctoral Skills Development Programme and UCL is part of the Bloomsbury Postgraduate Skills Network. The purpose of the programme is to give you the opportunity to expand your research and transferable skills in order to support your research, professional development and employability.

UCL Careers   is a one-stop-shop where you can find jobs, sign up for Careers alerts and register for new opportunities and events. You can also  contact the UCL Careers Office here  to get tailored advice in a one-to-one guidance session. Help with job application processes and guidance on how to build a portfolio of experience is also offered, enabling you to better access opportunities in your chosen field.

UCL offers an enriching environment for networking and professional growth. Engage with peers, industry experts, and faculty members who share your passion for excellence. Through collaborative group projects, seminars, workshops, and industry partnerships, you'll forge connections that extend beyond the classroom. 

These networking opportunities provide insights into real-world challenges, offer chances to learn from industry leaders, and pave the way for potential internships and job placements. Your interactions within this vibrant community will not only enrich your learning experience but also establish a valuable network that can shape your future in the finance and technology arena.

Many academics in our institute are working with industry partners. Applicants can ask about potential inputs from, or collaboration with, industry partners when they approach potential supervisors.

Teaching and learning

Throughout the programme, a diverse range of teaching and learning strategies foster comprehensive skill development and intellectual growth and imbue graduates with the prowess to thrive in research, industry, and various professional domains.

The programme employs a diverse range of assessment methods to ensure a comprehensive evaluation of students' capabilities, understanding, and comprehension across various dimensions, fostering a well-rounded learning experience.

MPhil upgrade viva. Final PhD viva.

Students can expect a well-balanced division of their time between various learning activities such as tutorials, lectures, seminars, practical sessions, and personal guidance.

The majority of the student's time, the remaining portion, is dedicated to independent study, allowing for in-depth exploration and self-directed learning. This balanced approach to time allocation ensures that students have ample opportunities for collaborative learning, direct instruction, and autonomous exploration, fostering a comprehensive and well-rounded educational experience.

Research areas and structure

Research environment.

We have a very inclusive and collaborative research environment. Our aim is to foster a very interdisciplinary approach and curiosity in research, and to explore different disciplines and challenging paradigms.

Humbleness and willingness to learn from each other is another feature of the group. We try to go to conferences in teams of three/four in order to support each other and to have a greater critical mass in terms of networking and contribution.

We have several social events during the year, including our financial research seminar series. In term 3 we also hold an event where all PhD students present their research and development.

Depending on the terms of any funding arrangements, upon successful completion of your approved period of registration you may be able to register as a completing research student (CRS) while you write up your thesis.

Within three months of joining the programme, you are expected to agree with your supervisor the basic structure of your research project, an appropriate research methodology and a realistic plan of work. You will produce and submit a detailed outline of your proposed research to your supervisor for their comments and feedback.

During your registration, you will be able to participate in conferences and research showcase events, which provide you with an opportunity to present your research findings before an audience of academics, industry and your fellow doctoral students. In the second year or part-time equivalent, you will be expected to complete the process of upgrading from MPhil to PhD status.

To progress, you are required to submit a short upgrade report, which must be presented and successfully defended in an upgrade viva. In your final year, you will submit your thesis and defend it to a panel in a viva exam.

Within three months of joining the programme, you are expected to agree with your supervisor the basic structure of your research project, an appropriate research methodology and a realistic plan of work. You will produce and submit a detailed outline of your proposed research to your supervisor for their comments and feedback. During your registration, you will be able to participate in conferences and research showcase events, which provide you with an opportunity to present your research findings before an audience of academics, industry and your fellow doctoral students.  

In the second year or part-time equivalent, you will be expected to complete the upgrade progression process. To progress, you are required to submit a short upgrade report, which must be presented and successfully defended in an upgrade viva. In your final year, you will submit your thesis and defend it to a panel in a viva exam.

Accessibility

Details of the accessibility of UCL buildings can be obtained from AccessAble accessable.co.uk . Further information can also be obtained from the UCL Student Support and Wellbeing team .

Fees and funding

Fees for this course.

The tuition fees shown are for the year indicated above. Fees for subsequent years may increase or otherwise vary. Where the programme is offered on a flexible/modular basis, fees are charged pro-rata to the appropriate full-time Master's fee taken in an academic session. Further information on fee status, fee increases and the fee schedule can be viewed on the UCL Students website: ucl.ac.uk/students/fees .

Additional costs

Some projects may require additional costs. These will be clearly advertised and/or confirmed through discussions with prospective supervisors at the point of any offer being made.

For more information on additional costs for prospective students please go to our estimated cost of essential expenditure at Accommodation and living costs .

Funding your studies

For a comprehensive list of the funding opportunities available at UCL, including funding relevant to your nationality, please visit the Scholarships and Funding website .

CSC-UCL Joint Research Scholarship

Value: Fees, maintenance and travel (Duration of programme) Criteria Based on academic merit Eligibility: EU, Overseas

You are encouraged to identify and contact potential supervisors before submitting a formal application. It is important that you find a supervisor who shares the same research interest and expectations and is available to take a new student. Supervisors in our institute welcome emails enquiring about your potential MPhil/PhD study.

Please note that you may submit applications for a maximum of two graduate programmes (or one application for the Law LLM) in any application cycle.

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MRes/PhD Finance

• Graduate research
• Department of Finance
• Application code N4ZC
• Starting 2024
• Home full-time: Closed
• Overseas full-time: Closed
• Location: Houghton Street, London

This programme offers the chance to undertake a substantial piece of work that is worthy of publication and which makes an original contribution to the field of finance. You will begin on the MRes, and will need to meet certain requirements to progress to the PhD.

Our programme is unique in its integration of finance and economics. During the first year, you will take microeconomics, macroeconomics, and econometrics courses alongside PhD students in Economics. However, in the second year you will differentiate by taking advanced courses in asset pricing and corporate finance. You will leave with a broad understanding of finance and its relations to other fields in economics.

As one of the largest finance departments in the world, we are able to offer opportunities for research in virtually any field in finance. We have strengths in theory and empirics, asset pricing and corporate finance, as well as financial econometrics, behavioural finance, macro-finance, and microeconomic analysis of financial markets and institutions.

You are expected to participate in the regular departmental seminars (weekly), as well as occasional workshops and conferences given by internationally renowned speakers. This is viewed as an important part of the learning process on the MRes/PhD in Finance.

Programme details

For more information about tuition fees and entry requirements, see the fees and funding and assessing your application sections.

Entry requirements

Minimum entry requirements for mres/phd finance.

Merit in a taught master's degree in finance, economics or another subject with a strong quantitative component.

Competition for places at the School is high. This means that even if you meet our minimum entry requirement, this does not guarantee you an offer of admission. 

If you have studied or are studying outside of the UK then have a look at our  Information for International Students  to find out the entry requirements that apply to you.

GRE/GMAT requirement

GRE or GMAT is required from all applicants (GRE is preferred)

Find out more about GRE/GMAT

Assessing your application

We welcome applications for research programmes that complement the academic interests of members of staff at the School, and we recommend that you investigate  staff research interests  before applying. However, please do not get in touch with faculty at this stage, 

We carefully consider each application on an individual basis, taking into account all the information presented on your application form, including your:

• academic achievement (including existing and pending qualifications)
• statement of academic purpose 
• outline research proposal
• sample of written work.

See further information on supporting documents

You may also have to provide evidence of your English proficiency. You do not need to provide this at the time of your application to LSE, but we recommend that you do.  See our English language requirements .

When to apply

The application deadline for this programme is 25 April 2024 . However, to be considered for any LSE funding opportunity, you must have submitted your application and all supporting documents by the funding deadline. See the fees and funding section for more details.

Statement of Academic Purpose

Your Statement of Academic Purpose should clearly explain the below:

• Why you want to do research in finance
• How your studies and experience make you suitable to do research in finance

Research interests

Your Research Interests should be submitted in place of the Outline Research Proposal, along with your application form and other required supporting documents, via the LSE online application system.

• Which aspect of the PhD do you think you will like the most? Which will you dislike the most? Why? (max. 200 words)
• Tell us about your favourite paper in financial economics. What do you like about it? How would you improve it? (max. 400 words)
• Write a comment for a general audience on a topic/question that interests you in finance: (max. 400 words).
• Is CEO compensation excessive?
• Markets function well as information is aggregated efficiently through prices.
• What are the benefits of shareholder activism?

Fees and funding

Fees and funding.

Every research student is charged a fee in line with the fee structure for their programme.  The fee covers registration and examination fees payable to the School, lectures, classes and individual supervision, lectures given at other colleges under intercollegiate arrangements and, under current arrangements, membership of the Students' Union. It does not cover living costs or travel or fieldwork.

Tuition fees 2024/25 for MRes/PhD in Finance

Home students: £4,786 for the first year Overseas students: £22,632 for the first year

The fee is likely to rise over subsequent years of the programme. The School charges home research students in line with the level of fee that the Research Councils recommend. The fees for overseas students are likely to rise in line with the assumed percentage increase in pay costs (ie, 4 per cent per annum).

The Table of Fees shows the latest tuition amounts for all programmes offered by the School.

The amount of tuition fees you will need to pay, and any financial support you are eligible for, will depend on whether you are classified as a home or overseas student, otherwise known as your fee status. LSE assesses your fee status based on guidelines provided by the Department of Education.

Further information about fee status classification.

Scholarships and other funding

The School recognises that the  cost of living in London  may be higher than in your home town or country, and we provide generous scholarships each year to home and overseas students.

This programme is eligible for  LSE PhD Studentships , and  Economic and Social Research Council (ESRC) funding . Selection for the PhD Studentships and ESRC funding is based on receipt of an application for a place – including all ancillary documents, before the funding deadline.  

Funding deadline for LSE PhD Studentships and ESRC funding: 15 January 2024 Second funding deadline for LSE PhD Studentships: 25 April 2024

The Finance Department may also offer departmental scholarships.

In addition to our needs-based awards, LSE also makes available scholarships for students from specific regions of the world and awards for students studying specific subject areas.  Find out more about financial support.

External funding 

There may be other funding opportunities available through other organisations or governments and we recommend you investigate these options as well.

Further information

Fees and funding opportunities

Information for international students

LSE is an international community, with over 140 nationalities represented amongst its student body. We celebrate this diversity through everything we do.  

If you are applying to LSE from outside of the UK then take a look at our Information for International students . 

1) Take a note of the UK qualifications we require for your programme of interest (found in the ‘Entry requirements’ section of this page). 

2) Go to the International Students section of our website. 

3) Select your country. 

4) Select ‘Graduate entry requirements’ and scroll until you arrive at the information about your local/national qualification. Compare the stated UK entry requirements listed on this page with the local/national entry requirement listed on your country specific page.

Programme structure and courses

Programme structure and courses.

A PhD in Finance from LSE consists of six coursework units, completed over two years, followed by a thesis which is usually expected to take a further three or four years.

We encourage our research students to participate fully in the intellectual life of the Department, and in the research seminar and workshop programmes of the Department and related research centres such as the Financial Markets Group (FMG). The weekly Capital Markets Workshops provide exposure to the work of leading academics from the UK and overseas. In addition, the FMG hosts a number of conferences each year with leading researchers and practitioners.

Students will normally commence in late August, by attending an introductory course before the start of the academic year.

Introductory Course in Mathematics and Statistics Provides students with the essential mathematical, statistical, economic and econometric background for the core Economics courses of these programmes.

During their first year, students take courses in Advanced Microeconomics, Advanced Macroeconomics and Advanced Financial Econometrics to build their core knowledge in these areas. They will also take two transferable skills courses which are not examined.

There is also the option to attend non-examined research workshops or seminars in finance given by faculty and internationally renowned scholars. Students also attend a PhD seminar in Finance throughout their MRes/PhD studies.

Microeconomics for MRes Students Introduces the basic analytical tools that are necessary to conduct research in any field in economics.

Macroeconomics for MRes Students Covers topics in advanced macroeconomics with emphasis on fundamentals and applications to recent theoretical advances.

Econometrics for MRes students Covers probability, mathematical statistics, and asymptotic theory, and theory and application of regression analysis. Provides a survey of the theory and application of time series methods in econometrics.

Financial Economics This non-examined course provides an in-depth introduction to the theories of asset pricing and corporate finance.

Capital Markets Workshop   

Second year

Students take courses in Corporate Finance and Asset Pricing, in addition to completing a research paper. They are also expected to attend research workshops or seminars in finance given by faculty and internationally renowned scholars.

Corporate Finance for Research Students The first half of this course focuses on the theory of corporate finance. The second half of the course will consider empirical research in corporate finance.  

Asset Pricing for Research Students Covers asset pricing theory, empirical asset pricing, as well as empirical evaluation of asset-pricing models.

Research Paper in Finance A research paper of between 6,000 and 8,000 words, related to your designated major field, to be submitted at the end of August of the second year.

PhD Seminar in Finance A seminar course for PhD students in the early stages of their research to present their work in progress.

Capital Markets Workshop

PhD programme

After meeting the progression requirements, students progress to PhD registration and begin to work on their thesis

For the most up-to-date list of optional courses please visit the relevant   School Calendar page. 

You must note, however, that while care has been taken to ensure that this information is up to date and correct, a change of circumstances since publication may cause the School to change, suspend or withdraw a course or programme of study, or change the fees that apply to it. The School will always notify the affected parties as early as practicably possible and propose any viable and relevant alternative options. Note that the School will neither be liable for information that after publication becomes inaccurate or irrelevant, nor for changing, suspending or withdrawing a course or programme of study due to events outside of its control, which includes but is not limited to a lack of demand for a course or programme of study, industrial action, fire, flood or other environmental or physical damage to premises. 

You must also note that places are limited on some courses and/or subject to specific entry requirements. The School cannot therefore guarantee you a place. Please note that changes to programmes and courses can sometimes occur after you have accepted your offer of a place. These changes are normally made in light of developments in the discipline or path-breaking research, or on the basis of student feedback. Changes can take the form of altered course content, teaching formats or assessment modes. Any such changes are intended to enhance the student learning experience. You should visit the School’s  Calendar , or contact the relevant academic department, for information on the availability and/or content of courses and programmes of study. Certain substantive changes will be listed on the  updated graduate course and programme information  page.

Supervision, progression and assessment

Supervision.

You will be assigned a lead supervisor (and a second supervisor/adviser) who is a specialist in your chosen research field, though not necessarily in your topic. Lead supervisors guide you through your studies.

Progression and assessment

To progress at the end of each year, students must pass their examined courses at grades specified by the Department and make satisfactory progress in their research. Progress is regularly monitored by the Department's Postgraduate Assessment Review Panel.

You will also need to meet certain criteria to progress to PhD registration, such as achieving certain grades in your coursework, and earning a minimum mark on your research paper.

Your final award will be determined by the completion of an original research thesis and a viva oral examination.

More about progression requirements.  

Student support and resources

We’re here to help and support you throughout your time at LSE, whether you need help with your academic studies, support with your welfare and wellbeing or simply to develop on a personal and professional level.

Whatever your query, big or small, there are a range of people you can speak to who will be happy to help.  

Department librarians   – they will be able to help you navigate the library and maximise its resources during your studies. 

Accommodation service  – they can offer advice on living in halls and offer guidance on private accommodation related queries.

Class teachers and seminar leaders  – they will be able to assist with queries relating to specific courses. 

Disability and Wellbeing Service  – they are experts in long-term health conditions, sensory impairments, mental health and specific learning difficulties. They offer confidential and free services such as  student counselling,  a  peer support scheme  and arranging  exam adjustments.  They run groups and workshops.  

IT help  – support is available 24 hours a day to assist with all your technology queries.   

LSE Faith Centre  – this is home to LSE's diverse religious activities and transformational interfaith leadership programmes, as well as a space for worship, prayer and quiet reflection. It includes Islamic prayer rooms and a main space for worship. It is also a space for wellbeing classes on campus and is open to all students and staff from all faiths and none.   

Language Centre  – the Centre specialises in offering language courses targeted to the needs of students and practitioners in the social sciences. We offer pre-course English for Academic Purposes programmes; English language support during your studies; modern language courses in nine languages; proofreading, translation and document authentication; and language learning community activities.

LSE Careers  ­ – with the help of LSE Careers, you can make the most of the opportunities that London has to offer. Whatever your career plans, LSE Careers will work with you, connecting you to opportunities and experiences from internships and volunteering to networking events and employer and alumni insights. 

LSE Library   –   founded in 1896, the British Library of Political and Economic Science is the major international library of the social sciences. It stays open late, has lots of excellent resources and is a great place to study. As an LSE student, you’ll have access to a number of other academic libraries in Greater London and nationwide. 

LSE LIFE  – this is where you should go to develop skills you’ll use as a student and beyond. The centre runs talks and workshops on skills you’ll find useful in the classroom; offers one-to-one sessions with study advisers who can help you with reading, making notes, writing, research and exam revision; and provides drop-in sessions for academic and personal support. (See ‘Teaching and assessment’). 

LSE Students’ Union (LSESU)  – they offer academic, personal and financial advice and funding.  

PhD Academy   – this is available for PhD students, wherever they are, to take part in interdisciplinary events and other professional development activities and access all the services related to their registration. 

Sardinia House Dental Practice   – this   offers discounted private dental services to LSE students.  

St Philips Medical Centre  – based in Pethwick-Lawrence House, the Centre provides NHS Primary Care services to registered patients.

Student Services Centre  – our staff here can answer general queries and can point you in the direction of other LSE services.  

Student advisers   – we have a  Deputy Head of Student Services (Advice and Policy)  and an  Adviser to Women Students  who can help with academic and pastoral matters.

Student life

As a student at LSE you’ll be based at our central London campus. Find out what our campus and London have to offer you on academic, social and career perspective. 

Student societies and activities

Your time at LSE is not just about studying, there are plenty of ways to get involved in  extracurricular activities . From joining one of over 200 societies, or starting your own society, to volunteering for a local charity, or attending a public lecture by a world-leading figure, there is a lot to choose from. 

The campus 

LSE is based on one  campus  in the centre of London. Despite the busy feel of the surrounding area, many of the streets around campus are pedestrianised, meaning the campus feels like a real community. 

Life in London 

London is an exciting, vibrant and colourful city. It's also an academic city, with more than 400,000 university students. Whatever your interests or appetite you will find something to suit your palate and pocket in this truly international capital. Make the most of career opportunities and social activities, theatre, museums, music and more. 

Want to find out more? Read why we think  London is a fantastic student city , find out about  key sights, places and experiences for new Londoners . Don't fear, London doesn't have to be super expensive: hear about  London on a budget . 

The programme is aimed at training students to become an academic. Students who successfully complete the programme often embark on a career in academic institutions, or international organisations such as central banks or the IMF. See a list of past placements.

Further information on graduate destinations for this programme

Support for your career

LSE Careers has a wide range of resources available to assist students in their job search. Find out more about the  support available to students through LSE Careers .

Find out more about LSE

Discover more about being an LSE student - meet us in a city near you, visit our campus or experience LSE from home. 

Experience LSE from home

Webinars, videos, student blogs and student video diaries will help you gain an insight into what it's like to study at LSE for those that aren't able to make it to our campus.  Experience LSE from home . 

Come on a guided campus tour, attend an undergraduate open day, drop into our office or go on a self-guided tour.  Find out about opportunities to visit LSE . 

LSE visits you

Student Marketing, Recruitment and Study Abroad travels throughout the UK and around the world to meet with prospective students. We visit schools, attend education fairs and also hold Destination LSE events: pre-departure events for offer holders.  Find details on LSE's upcoming visits . 

How to apply

Virtual Graduate Open Day

Register your interest

Related programmes, mres/phd economics.

Code(s) L1U4

MSc Finance and Economics

Code(s) LN43

MPhil/PhD Statistics

Code(s) G4ZS

MRes/PhD Accounting (Accounting, Organisations and Institutions)

Code(s) N2ZD (AOI track)

MPhil/PhD Social Research Methods

Code(s) L9ZM

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University of manchester: development finance.

MSc Development Finance will provide you with a thorough understanding of specific aspects of development finance, recognising that finance-related issues are increasingly important in development.

It will equip you with the necessary skills to make a meaningful contribution to policy formulation and implementation, by focusing on financial development policy and financial management, with specific reference to low- and middle-income countries.

You will apply different approaches to the collection, analysis and presentation of data, as well as in critically evaluating specific issues of development, and gathering, organising and using evidence and information from a wide variety of sources.

The course provides skills in identifying, investigating and justifying possible solutions to problems arising out of the theory and practice of economic development.

These also include competency in developing a reasoned argument, critically considering data sources and defending different approaches.

By the end of the course, you should have obtained a detailed knowledge of the key issues and debates in various aspects of economic development, familiarity with theoretical approaches concerning development problems and an appreciation of the diversity of development policies.

Full-Time, 12 months starts Sep 2024

Part-Time, 27 months starts Sep 2024

The School of Environment, Education and Development (SEED) is an internationally recognised centre of excellence in both research and teaching. Formed by a unique combination of five interrelated specialisms - Architecture , Education , Geography , Global Development , and Planning and Environmental Management - SEED aims to not only understand the uneven relationships between society, the economy and the environment, but improve them. Through our collaborative approach to studying the world’s grand challenges, we’re positioned to influence how they’re tackled - from poverty eradication to sustainable urbanism, to securing social justice. Through our collaborative approach to studying the world’s …

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Choose start date: Start date: September 2024 Duration: Five to six years Deadline: Applications are now closed Fee: Fully funded Location: London, UK Admissions Funding and scholarships

A fully-funded PhD for aspiring scholars seeking an academic career 

We believe that rigorous academic analysis can provide practical solutions to complex problems in society. Our fully-funded PhD programme provides students with the opportunity to conduct their own research in a world-leading university, finding solutions to key challenges in modern business. As a Business School, we rank first in the UK for research environment and second for management and business students, while Imperial College London ranks first in the UK overall for research (REF 2021). 

Starting with a one or two-year Master’s in Research (MRes), depending on your chosen research area, you will gain a strong theoretical grounding and thorough research training to prepare you for the PhD. As a doctoral student you will have the benefit of supervision from leading world scholars. You will develop the expertise and research skills necessary to pursue a career in academia with previous Imperial doctoral graduates finding success in other leading universities such as Copenhagen Business School, Tsinghua University, University of Amsterdam, University College London, and The Wharton School of the University of Pennsylvania.

97% world-leading or internationally excellent research (REF 2021) #1 in the UK for research (Imperial College London, REF 2021) 1% top one per cent of business schools worldwide to have achieved triple accreditation 6 research areas Explore the programme

Advance your academic success at a world class research institution

2nd in the world (Imperial College London, QS World University Rankings 2025)

3rd in Europe (Imperial College London, Times Higher Education World University Rankings 2024)

#1 city for students (London, QS Best Student City Rankings 2024)

Build your career with our global reputation

With particular expertise in finance, entrepreneurship, health, and sustainable business, the Business School is recognised as leading the field. Benefit from strong industry partnerships and a diverse alumni network. 

A fully-funded programme

Every student on our Doctoral programme is offered full funding, including a full tuition fee waiver (Home/EU or Overseas fees) plus a living stipend for up to five years. Funding for a 6th year can be considered on a case-by-case basis, with the potential to undertake a teaching or research assistant studentship with one of the Business Schools research centres.  

World-class faculty

Our internationally admired faculty are leaders in their respective fields, bringing a wealth of experience and academic distinction. They are deeply invested in developing the research interests of our PhD students, fostering an environment of intellectual growth and innovation. 

Impact on industry

Working closely with businesses and governments, we drive policy and practice through inspiring collaboration and research excellence, giving you the opportunity to observe the impact of research on business and society. 

Inspiring intellectual community

Engage with a diverse cohort of fellow PhD students and researchers, creating an inspiring and collaborative environment that encourages intellectual development and professional connections. 

Programme content

The Business School Master’s in Research (MRes) is an integral part of the PhD, introducing theory and research methods in Finance, Economics and Management, providing you with a solid foundation for your doctoral studies. Depending on the research area you choose to specialise in, you will embark on a one or two-year MRes programme as shown below. 

*Please note programme content is subject to change. The modules mentioned below are just a sample of what is available in the programme.

Systematic Reviews

When starting new research, the first step is usually a literature review: scanning what is already known about a given topic and figuring out where the gaps are. However, novice researchers tend to be anything but systematic in their literature review: they have no method for scanning the literature, and they usually have little idea of what is relevant and what is not. The Systematic Review method opens a way to create research syntheses that add real value and novel insight – in a way that is potentially publishable in its own right.

Specialist Modules

Optimisation

Stochastic Processes - This module introduces you to basic tools for modelling stochastic phenomena. The focus of the module is the theory of stochastic processes, but applications will be drawn from operations research, analytics / ML, and finance to illustrate the usage of the models for studying real-world business problems

Machine Learning for Analytics - This module gives you an overview of machine learning methods for analytics. Applications in the module will be drawn from various sources including medical applications (e.g. patient discharge from hospitals), recommender systems and the Netflix prize, advertising and marketing, estimating scofflaw rates, reputations systems and Google's PageRank algorithm, filtering, text mining, sports analytics etc.

Decision Making Under Uncertainty - This module gives you an overview of different paradigms of decision making in dynamic uncertain environments, including dynamic programming, stochastic optimisation and robust optimisation. Along with theory, applications in operations management and analytics will be introduced, with the aim of preparing you for research in these areas.

Industrial Organisation

Sustainable Behaviour - This module aims to provide you with an in-depth exposure to the emerging academic field of sustainable behaviour. You will be presented with the main methodological tool used in behavioural research (lab and field experiments) as well with the multiple articles and journals which have published cutting-edge experimental research on sustainable behaviour across a wide variety of contexts.

Consumer Behaviour - This module aims to give you a robust foundation in consumer behaviour and how it relates to marketing. The module covers topics such as how consumers process marketing communications, how consumer involvement affects decision making, and how external factors impact consumer behaviour.

Microeconomics 1

Microeconomics 2

Research methods modules

Applied Microeconometrics

Econometrics 1

Empirical Industrial Organisation

Qualitative Methods 1

Qualitative Methods 2

Quantitative Methods 2

Other elective modules

You can choose from a range of elective modules relevant to your pathway.

Asset Pricing Theory 

Corporate Finance

Consumer Behaviour

Empirical Asset Pricing

Entrepreneurship 

Financial Economics of Climate Sustainability

Machine Learning for Analytics

Machine Learning for Economic Analysis

Macroeconomics 2

Macro-Finance

Micro Development Economics

Organisational Behaviour

Organisation Theory 

Topics in Empirical Banking 

Topics in Environmental Resource Economics 

Topics in Finance

Topics in Health Economics

Topics in Household Finance 

Business Models and Intellectual Property*

Contemporary Topics in Health Policy*

Digital Marketing Analytics*

Healthcare and Medical Analytics*

Logistics and Supply Chain Analytics*

Optimisation and Decision Models*

Retail and Marketing Analysis*

Workforce Analytics*

*These modules are available subject to capacity and timetabling constraints in other faculties and are differently weighted to the MRes Business electives

Year one compulsory modules for Economics and Public Policy pathway

Applied Microeconometrics  - This module will provide an introduction to the practice of applied microeconometrics. Students will learn the standard empirical methods in current use by applied researchers and be exposed to a handful of frontier approaches. The focus will be on implementation beyond simply estimating a parameter of interest: getting the standard errors right, validation and conducting appropriate robustness exercises, and adapting methods to fit new contexts.

Econometrics I  - The module has the objective to provide the students with econometric tools necessary to conduct their empirical research and discuss fundamentals of econometric theory behind them. Students will learn how to conduct - and how to critique - empirical studies in finance, economics and related fields.

Empirical Industrial Organisation - This module enables you to answer counterfactual economic questions based on structural modeling and estimation. 

Macroeconomics I -  The course will focus on building a strong foundation in macroeconomic theory, particularly in analysing dynamic optimization problems. These techniques will be applied to a wide range of models to deepen students' understanding of topics like business cycles, long run growth, unemployment, and inequality. 

Macroeconomics II  - This course covers research issues that arise in the intersection of macroeconomics and finance. Topics include portfolio choice, general equilibrium models with heterogeneous agents and dynamic asset pricing models.

Microeconomics I  - The module covers the main tools of microeconomic theory and focuses on preferences, consumer theory, choice under uncertainty, producer theory, and game theory. Time permitting, it introduces general equilibrium in competitive markets. The emphasis is on economic intuition as well as techniques. The fundamental concepts of microeconomic theory are discussed.

Microeconomics II  -   This module covers competitive equilibrium, markets with imperfect, competition and asymmetric information, general equilibrium, Social choice and mechanism design

Research Experience  – This module is intended to give students practical experience of research preparation for their dissertation the following year.  They will undertake research tasks under the supervision of a faculty member on a topic chosen by the faculty member.  Students can select those projects that fit their research interests.

Year one compulsory modules for Finance pathway

Applied Microeconometrics   - This module will provide an introduction to the practice of applied microeconometrics. Students will learn the standard empirical methods in current use by applied researchers and be exposed to a handful of frontier approaches. The focus will be on implementation beyond simply estimating a parameter of interest: getting the standard errors right, validation and conducting appropriate robustness exercises, and adapting methods to fit new contexts.

Econometrics I  - The module has the objective to provide the students with econometric tools necessary to conduct their empirical research and discuss fundamentals of econometric theory behind them. Students will learn how to conduct - and how to critique - empirical studies in finance, economics and related fields.

Macroeconomics I - The course will focus on building a strong foundation in macroeconomic theory, particularly in analysing dynamic optimization problems. These techniques will be applied to a wide range of models to deepen students' understanding of topics like business cycles, long run growth, unemployment, and inequality. 

Macroeconomics   II  - This course covers research issues that arise in the intersection of macroeconomics and finance. Topics include portfolio choice, general equilibrium models with heterogeneous agents and dynamic asset pricing models.

Microeconomics I  - The module covers the main tools of microeconomic theory and focuses on preferences, consumer theory, choice under uncertainty, producer theory, and game theory. Time permitting, it introduces general equilibrium in competitive markets. The emphasis is on economic intuition as well as techniques. The fundamental concepts of microeconomic theory are discussed.

Corporate Finance  - This module is taught in two parts, starting with a historical background, and then considering the theory of investment decisions, capital structure, financial innovation, and corporate governance.

Asset Pricing Theory  - The first part of this module deals with representative investors, portfolio choice and dynamic securities markets in discrete time before covering portfolio choice in continuous time and option pricing. The second part starts from the asset pricing implications of a general equilibrium Lucas-tree economy. Then, it discusses the main asset pricing puzzles implied by these economies. Finally, we will explore optimal portfolio choice, multiple trees economies and some of the latest attempts in the asset pricing literature to solve some of these puzzles.

Research Experience  - This module is intended to give students practical experience of research preparation for their dissertation the following year.  They will undertake research tasks under the supervision of a faculty member on a topic chosen by the faculty member.  Students can select those projects that fit their research interests.

Year one compulsory modules for Innovation and Entrepreneurship pathway

Introduction to the Practice of Research  - This module will introduce you to the craft of research. You will develop the skills and knowledge you need to effectively produce research questions and hypotheses, ensuring consistency between theory, research design, methods and measures, and developing a clear and compelling argument.

Qualitative Methods I  - This module covers research methods required in qualitative research. You will develop skills in all aspects of the research process, including research design, data collection, data analysis, theory building, writing up as well as reviewing papers and responding to referees. The module is essential for those who wish to author qualitative research but will also be useful for quantitative researchers.

Quantitative Methods I  - This module provides an overview of the primary quantitative methods employed in management research. It will enable you to develop the ability to interpret the results of your own research as well as to critically assess the findings presented in other studies. The emphasis will be on the practical application of different estimation models using STATA rather than on the econometrics and mathematical specification.

Organisational Behaviour  - In this module you will be introduced to a selection of most seminal papers in organisational behaviour with a particular focus on classic and contemporary theories, ongoing controversies, and ground-breaking empirical studies. The emphasis is on providing a foundational overview of the field.

Organisational Theory  - This module will expose you to the major theoretical perspectives and issues studied in organisation theory research. You will also be exposed to a set of approaches to understanding how and why organisations form, survive and grow.

Strategy  - In this module you will develop the fundamentals of strategy including the theories of competitive advantage, industry analysis, understanding of resource based view/knowledge based view, and corporate strategy.

Innovation Management  - This module will offer a thorough theoretical understanding of the key themes of innovation research, combined with practical insights into the challenges of innovation management in organisations. You will address topics ranging from technological change, creativity, the role of networks in innovation, and appropriability/value capture from innovation.

Entrepreneurship  - This module introduces students to the major theoretical threads and debates in the field of entrepreneurship. Students will learn to make connections between theory and empirical research, practice critiquing and identifying insight in research, engage with fundamental debates in the field and formulate directions how the field may be further advanced.

Year one compulsory modules for Strategy and Organisational Behaviour pathway

Elective modules for economics and public policy pathway.

Asset Pricing Theory

Decision Making Under Certainty

Econometrics I

Econometrics II 

Financial Economics of Climate and Sustainability

Machine Learning for Economics Analysis

Machine Learning and Text Analysis for Social Science

Macroeconomics 

Microeconomics I

Microeconomics II 

Sustainable Behaviour

Topics in Empirical Banking

Topics in Environmental Resource Economics

Topics in Household Finance

Elective modules for Finance pathway

Advanced Financial Statistics

Asset Allocation and Investment Strategies

Big Data in Finance I

Big Data in Finance II

Decision Making Under Uncertainty

Econometrics II

Financial Economics for Climate Sustainability

Microeconomics II

Elective modules for Innovation and Entrepreneurship pathway

Advanced Topics in Organisational Behaviour

Corporate Sustainability

Interdisciplinary Research

Macroeconomics

Qualitative Methods II

Readings in Digital Business

Readings in Social Networks/Social Capital

Social Network Analysis

Social Data Science

Special Topics in Organisational Theory/Strategy

Elective modules for Strategy and Organisational behaviour pathway

Advanced Topics in Organisational Behaviour 

Social Network Analysis 

Research Project

During the second year, students work on their MRes project which is formally assessed and counts towards the overall MRes mark. Students are expected to approach potential supervisors from within the department’s academic staff. Students submit their proposed research project title and a brief outline by the end of September of Year two. Students submit a Progress Report in February, outlining their progress to date with the thesis. During the Summer Term, students will submit their MRes dissertation. This will be followed by an oral exam

Research plan 

When you progress from the MRes to the PhD, you will work with your supervisors, chosen based on your research interests. Your supervisors will help you develop your research question, identify research and teaching opportunities and support you through your studies and the academic job application process.  

Seminars and conferences

Being part of the School’s inspirational research community is a crucial aspect of the doctoral experience – as is gaining familiarity with cutting edge research from world-leading academics. Each department runs seminars where internal and external academics discuss their latest work.  

As well as providing insight into yet-to-be-published research, the seminars offer networking opportunities and visiting academics often lead special topic workshops for research students. The Doctoral programme also supports the participation of research students in international conferences where you can present your own research and participate in doctoral consortia. 

Early Stage Assessment 

The Early Stage Assessment (ESA) takes place in the summer of year one of the PhD and is assessed by a panel of faculty. The ESA outlines the research question, the work you have done to date and the future research activities to be carried out to complete the project. 

It consists of a written report and presentation to which all PhD students and research department faculty are invited. The purpose of the ESA is not only to assess your personal progress but it also gives you the opportunity to discuss your work at its early stages and get feedback and ideas from faculty to improve your research. 

Armed with feedback from the Early Stage Assessment, you will work intensely on your thesis, focusing on the collection and analysis of empirical data and developing theoretical frameworks. Under the guidance of your supervisors, the thesis gives you the opportunity to conduct a substantial piece of original research. 

Late stage review

The Late Stage Review (LSR) takes place in the summer of year two of the PhD and follows the same principle as the Early Stage Assessment, in that its purpose is to assess your progress and provide you with feedback and advice on the direction and scope of your research. 

Our research areas

What our students say

“The programme structure is different from many other business schools because during the first year at Imperial we study the Master’s of Research (MRes), which is focused on developing strong foundations before continuing to the PhD programme. This also gives us additional time to discover opportunities and find the right paths for our research.”

Class profile 2023

75 students

48% female students

20 nationalities represented

Funding and scholarships

Request a brochure, career impact.

In recent years, our PhD students have joined leading universities, research centres and institutions such as Tsinghua University, University College London, Copenhagen Business School, the Bank of England, the University of Bath, King’s College London, National Chengchi University, the University of Sussex and Renmin University in China. Others have sought top positions in industry or founded successful start-ups.

The doctoral programme has been re-structured in recent years to focus more on academic development and it is anticipated that over the coming years placements will focus more on academia than industry.

Find out more about career outcomes

Meet your faculty

Our PhD programme provides close collaboration between leading Analytics & Operations faculty and doctoral students, developing your research interests and providing continuous support and guidance throughout the programme.  

Alexander Michaelides

Kalyan Talluri

Wolfram Wiesemann

Edward Anderson

Martin Haugh

Xiaocheng Li

Reza Skandari

Jiankun Sun

Carol Propper

Franco Sassi

Jonathan Haskel

Marisa Miraldo

Richard Green

Pedro Rosa Dias

Esther Bøler

Franklin Allen

Patrick Bolton

Ramana Nanda

Lara Cathcart

Enrico Biffis

Christopher Hansman

Clara Martinez-Toledano

Alan Hughes

Celia Moore

Markus Perkmann

Christopher Tucci

James Barlow

Ileana Stigliani

Mark Kennedy

James Eteen

Eduardo B. Andrade

Andreas Eisingerich

Rajesh Bhargave

Sven Mikolon

Michelle Rogan

Frequently asked questions, how long does it take to complete the doctoral programme.

The Doctoral programme is structured to take between four to six years full-time. In the first year, all students undertake a one or two year MRes programme depending on their chosen research area specialism. Subject to satisfactory academic progress, students then progress to the PhD which takes between 3-4 years.

When does the academic year start?

The Doctoral programme has one intake each year in September and is spread over four to six years.

Do you offer any distance learning or part-time research programmes?

It is not possible to enrol on the Doctoral programme on a part-time or distance learning basis. Students must be in attendance throughout the full period of study.

Can I transfer from my current Doctoral programme to Imperial College Business School's Doctoral programme?

It is not usually possible to transfer onto the Doctoral programme as it is unlikely that previous studies would perfectly overlap with the School’s expertise.

Can I come to Imperial College Business School as a visiting student?

Please visit Imperial College London's visiting students page .

Can I have a part-time job whilst enrolled in the programme?

The Doctoral programme is full time. Students are able to undertake part-time work if this does not break any relevant visa and/or scholarship conditions, however the programme offers a living stipend to support students during their studies.

How many students do you accept onto the Doctoral programme every year?

Admission onto the Doctoral programme is highly competitive as we accept around 15 students each year, from a total of approximately 200 applications.

Is there a workspace assigned to Doctoral students?

There is a designated workspace which includes a computer and relevant software assigned to all enrolled Doctoral students. You will share working space with other PhD students in your cohort.

How do I apply and what documents do I need to submit with my application?

All applications to the Doctoral programme are made via our online platform. You will either need to select 'Business (MRes 1YFT)' or 'Business (MRes 2YFT)' based on your research area of interest. Further information can be found on our  Doctoral programme page.

Please refer to the  How to apply page  to see application deadlines, what documents you are required to submit with your application and to view the selection process.

When is the application deadline?

To find out more about application deadlines for our Doctoral programme please  visit the How to apply page .

What do I need to include in my statement of purpose?

One of the most important parts of our application form is the ‘statement of purpose’ section. It should be no more than one or two A4 pages and should cover the following points:

Your motivation for undertaking the programme

A discussion of possible research areas that you might pursue and how these are a good fit for Imperial College Business School

What interests you most about your chosen field of study

Relevant past study, industry, or research projects

Long-term career goals

I haven't decided what area I want to specialise in for my PhD, what should I do?

You should browse the description of the different research groups in the Business School and the webpages of faculty members. This will give an overview of their research interests and current projects. The MRes gives you an opportunity to pursue potential interests through courses and a project prior to committing to the PhD

Do I need a willing supervisor prior to application?

No, although in your application you should list a member of  faculty  you have identified as a potential supervisor. You can demonstrate in your statement of purpose how your research interests are aligned to a potential supervisor and the Business School.

Checking the research profiles of faculty members and Business School projects will give you an indication of whether the Business School is a good fit for you. If no faculty are working in your area of interest it is unlikely that you would be shortlisted, as we may not be able to provide supervisory support during your PhD.

During the MRes year, you will become part of the research community at Imperial College Business School and interact with faculty and other PhD students during taught courses and at seminars, which we hope will influence and help shape your research ideas for the PhD.

Are all applicants interviewed?

Not all applications progress to the interview stage of the selection process, however we interview all shortlisted candidates before making an offer. In the case of overseas candidates we will arrange an interview by telephone or via Skype.

Is GMAT/GRE a compulsory requirement?

Yes. A GMAT/GRE score must be submitted before we will consider an application. Any applications submitted without a GMAT/GRE score will be considered incomplete until we receive a score. Please note that we do not make offers on the condition that a candidate achieves a satisfactory GMAT/GRE score. To see the GMAT/GRE scores we look for, please refer to the  Entry Requirements page .

Do you offer Doctoral funding and stipend?

We offer a fully funded Doctoral programme at Imperial College Business School – this includes a tuition fee waiver and a stipend for up to five years. The 2024-25 rate of the Graduate Teaching Assistant scholarship stipend is £25,000. Rates are reviewed annually and are expected to increase for 2025-26 in line with Research Council UK rates. Stipends are tax-free and the continuation of the stipend will depend on your satisfactory progress on the programme.

What living costs should I allow for in London?

Living costs vary considerably depending on the area of London you choose to live in and your choice of accommodation.

Read more about  estimated London living costs  and  accommodation for postgraduates .

Do you offer Doctoral scholarships?

Within Imperial, we also have funding opportunities from various external studentships, including EPSRC, ESRC, and the Imperial College President’s PhD Scholarships .

Students who are eligible for other PhD  funding opportunities  that may be available to them are expected to apply for them.

Explore more

Sign up to our newsletter.

Keep up to date about news, events, and application deadlines for our PhD programme by joining our mailing list.

Attend an event

Wherever you are in the world, our Recruitment team holds events where you can meet staff and students, and get your questions answered. 

Start your journey

Study your doctoral programme at a global top 10 university offering world-class faculty, leadership coaching, global business experience, industry connections, specialist careers support and an exciting London location. 

Study with the world leaders in development studies and realise your potential to transform the world with our PhD by Research.

The PhD in Development Studies by Research is IDS’s advanced research degree. It is awarded to candidates after a minimum of three years study, based on completion of original and significant research in the field of Development Studies – which is assessed through a written thesis.

*Please note: It is not possible for international students to take a part-time PhD due to UK Home Office visa restrictions, and IDS does not have a distance learning mode of its PhD Programme.

World leaders in development studies

Ranked first in the world  for Development Studies  (QS World University Rankings by Subject 2023) for the eighth year in a row – the Institute of Development Studies (IDS) transforms the knowledge, action and leadership needed for more equitable and sustainable development globally, through our world-class research, learning and teaching.

As a PhD researcher, you will join a thriving research community comprising more than 70 research staff and 50 postgraduate researchers. You will have access to research and teaching opportunities, as well as a substantial series of seminars presented by leading development professionals and practitioners.

Areas of study

We welcome submissions from researchers who share our commitment to:

• upholding climate and environmental justice
• reducing extreme inequities
• fostering healthy and fulfilling lives
• nurturing inclusive, democratic and accountable societies.

We are particularly interested in work that shows originality in addressing topics related to the work of our research fellows based across our ten  research clusters : business; cities; digital; governance; health and nutrition; impact and policy; participation; power; resource politics; and rural futures.

Find out more about our current PhD Researchers Find out more about our Research Fellows and their interests

Studying at IDS can potentially transform your view of the world – you grow a lot learning from this very rich and diverse community.

Each PhD researcher has a minimum of two supervisors. The number of hours of formal supervision will vary over the course of the PhD depending on the student, supervisor and type of research. IDS publishes a detailed PhD handbook which sets out expectations and responsibilities regarding supervision.

During the course of your PhD, you are required to give two seminars to the IDS community. The first, at the end of year one is called the Research Outline Seminar and this provides an overview of your PhD plans prior to beginning fieldwork. The second occurs halfway through year three. This is called the Work in Progress Seminar and it focuses on the research findings and overall arguments made in the dissertation.

Your PhD work is examined by dissertation and viva. Your thesis must be no longer than 80,000 words. These limits includes footnotes and bibliography but excludes any appendices.

You’re normally expected to have a Merit (an average of 60% overall) in a Master’s degree. Your qualification should be in a relevant social sciences subject. In exceptional circumstances, you may be considered for the degree if you have a qualification in a different subject area.  You must also show evidence of substantial professional work experience in development-related work.

English language requirements

Students must be proficient in English. The minimum requirement is, for example, an  IELTS  grade of 7.0 overall and no less than 6.5 in each section of the IELTS test. For  detailed information on English language requirements for international students please see the University of Sussex website .

IDS requires that students register for a minimum of three years. Most students spend time on fieldwork that may take place in a development context – either overseas or in the UK. During fieldwork, students are charged a fee which is normally 65% of the full-time fee but may be subject to change.

Almost all IDS PhD researchers choose to do empirical research and fieldwork for their PhDs. The broad parameters of this research (topic and country) are usually decided by the student and included in the proposal submitted as part of the application to the PhD programme. More detailed assessments of the scope and scale of this research are usually developed in conjunction with supervisors during the first year of the PhD. Fieldwork usually lasts between 8 and 12 months and costs depend on the scope and scale of the activities. For example, participant observation and qualitative interviews undertaken in your home country and in a language with which you are familiar, may not be very expensive, but working in a country where you need visas, in-country ethical approval, and have to employ translators, transcribers, or a team of enumerators for a quantitative survey can mean that costs rapidly escalate. Where you stay, how you travel to your fieldsite, what technology you use to collect and analyse data and how long you stay will all influence the costs. IDS does not have the resources to fund any fieldwork or travel costs. There is a small conference fund and PhD students can apply for up to £450 during their PhDs if they are presenting a paper at a conference.

After having made substantial progress and completed three years of registration, students may be permitted to transfer to pre-submission status for a maximum of 12 months. IDS considers substantial progress to be the completion of three empirical chapters, supervisors’ approval and a successful work-in-progress seminar. If pre-submission status is not granted, then full-time fees are still applicable. The pre-submission fee is approximately £500 for each year or part thereof.

Unfortunately, neither IDS nor the University of Sussex can offer financial support. Applicants requiring financial assistance should contact their local Ministry of Education or Ministry of Foreign Affairs and the British Council representative (c/o British Embassy). For the latest information on fees, funding and scholarships, visit the  University of Sussex website .

Living costs

Find out typical living costs for studying at Sussex

Find out about our terms and conditions

Your time at IDS will equip you with the training needed to launch your career in academia, government, civil society or the private sector, and make a real difference in bringing about transformative change.

Our PhD graduates are defining and solving some of the world’s most pressing global challenges in their work as:

• ministers in national governments and civil servants
• high-level officials in development organisations such as UNDP and the World Bank
• leaders and thinkers of civil-society and international development organisations such as ActionAid and Christian Aid
• high-profile academics at universities across the world.

Apply via the  University of Sussex online application . When completing the application form, please identify IDS on the application; the code for this is L1604R – Development Studies (IDS) (PHD).

Finding a supervisor

While you are not responsible for finding a supervisor, it is good practice to express your preferred supervisors on your application form. Applicants are assessed both on their academic credentials and on the relevance of their works to the research of one or more  IDS Research Fellows .

Distance learning

IDS is unable to accept applications for distance learning. We believe it is in the best interests of both PhD students and the Institute that the majority of the study period is spent at IDS. This offers the opportunity for ongoing interaction with other IDS members and students.

Your research proposal

When you apply, you must submit a detailed research proposal of 2000-3500 words indicating the primary research questions of your research project, a short review of the literature that you are planning to engage with, and your methodology. Find out how to write a research proposal.

Before applying, please read carefully our  guidelines on how to write your research proposal on the Sussex website . Here is a good example of a recent research proposal from a successful applicant:  Susana Araujo’s PhD research proposal to IDS, 2020 .

Application deadline

We prefer our PhD by Research students to start in September to coincide with the start of the University of Sussex autumn term. This timing will maximise your opportunities to take part in induction sessions, training and module enrolment (optional), both at IDS and the University of Sussex.

For September entry, the application deadlines are:

• 21 June for international students
• 21 July for UK/EU students.

In exceptional circumstances IDS may permit students to start the PhD by Research in January (for example, if visa issues prevent a September entry). The application deadline is 31 October for all January starters. We may also be able to offer some flexibility in start dates for students transferring from another organisation.

How we assess your application

When assessing your application we take into account many factors including: the quality of your research proposal, your academic qualifications, fit with IDS research priorities, previous development experience, language skills and availability of suitable supervisors.

All applications are assessed by the IDS Director of Doctoral Studies, with input from two potential supervisors. You will also be interviewed on your PhD research plans by these potential supervisors. If your application is successful, you will be contacted by the University of Sussex Admissions Office with a formal offer letter.

Presence at IDS

Your presence at IDS is vital at the early stage of your PhD when the research proposal is prepared (the first year) and then, after fieldwork, at the stage of writing up the research findings (the third year). The maximum period of registration is four years, but a PhD can be completed in three years.

Key information

Full time duration, part time duration, home fees (uk, republic of ireland, channel islands & isle of man), overseas (including eu), open days and events.

Find our more about our PhD Open Evenings, information sessions, virtual PhD events and campus tours

Key contacts

Teaching Coordinator

s.s.watson@ids.ac.uk

+44 (0)1273 915662

Related links

• PhD researcher, Jorge Ortiz-Moreno, explains what it’s like to study at IDS
• Why study at IDS
• First in the world for development studies
• Development Studies Scholarships and Funding

We’ll make all reasonable efforts to provide you with the courses, services and facilities described in this prospectus. However, we may need to make changes due to significant disruption, for example in response to Covid-19.

3 years ago @IDS_UK

IDS researchers @Mig_L_oureiro & Niranjan J. Nampoothiri discuss how the recent events in Bangladesh show the power of civil society and collective action & what lessons on citizen-state relations can be applied by the next #Bangladesh government. 👇

Changing citizen-state relations in Bangladesh - Institute of Development Studies

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We have 29 Finance PhD Projects, Programmes & Scholarships in the UK

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Finance PhD Projects, Programmes & Scholarships in the UK

A critical political economy of money, finance and finacialization, phd research project.

PhD Research Projects are advertised opportunities to examine a pre-defined topic or answer a stated research question. Some projects may also provide scope for you to propose your own ideas and approaches.

Self-Funded PhD Students Only

This project does not have funding attached. You will need to have your own means of paying fees and living costs and / or seek separate funding from student finance, charities or trusts.

An investigation of Quantum Cognition in Financial Decision Making

Future finance with artificial intelligence, supply chain digitalisation: building a sustainable supply chain, phd studentship (3 years): understanding financial wellbeing in broader inclusive context: conceptualisation, measurement and interventions, funded phd project (students worldwide).

This project has funding attached, subject to eligibility criteria. Applications for the project are welcome from all suitably qualified candidates, but its funding may be restricted to a limited set of nationalities. You should check the project and department details for more information.

PhD Studentship (3 years): Cross-border Innovation in Green and Digital Technologies during global economic shifts

Phd studentship (3 years): islamic finance innovation for more inclusive digital knowledge-based societies in the uk and internationally, financial literacy as a barrier to entrepreneurial ambitions students from disadvantaged backgrounds, leveraging business models for investment due diligence in the venture capital, uk stock market, monetary policy, and the real economy, phd studentship in ai and collective intelligence: theory and applications in financial payment and lending cases, leeds university business school, funded phd programme (students worldwide).

Some or all of the PhD opportunities in this programme have funding attached. Applications for this programme are welcome from suitably qualified candidates worldwide. Funding may only be available to a limited set of nationalities and you should read the full programme details for further information.

Business Research Programme

Business Research Programmes present a range of research opportunities, shaped by a university’s particular expertise, facilities and resources. You will usually identify a suitable topic for your PhD and propose your own project. Additional training and development opportunities may also be offered as part of your programme.

Investigating Progress and Implementation of Female Leadership among FTSE 350 Companies by 2025

Empirical modeling in financial engineering, mathematical modelling: real estate finance and investment.

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PhD in Financial Technology

Building on our established PhD in Management programme, we have developed an innovative new doctoral programme in the field of Financial Technology.

PhD in Financial Technology allows students to pursue their own research topic in the area of Financial Technology or apply for specific industry projects, where students will be able to address complex industrial challenges to gain real-world experience.

This programme aims to prepare students for a diverse array of careers in finance. Approximately 50% of students who pursue the industry pathway, can expect to build on the networking opportunities available to them from studying at the international partners' premises during their study and move into a permanent career in that company, or the industry after graduation.

PhD in Financial Technology at a glance

• Study over three years full-time or six years part-time, with an additional 'writing-up' year available to all.
• Develop advanced techniques and in-depth knowledge in the field of Financial Technology.
• Study an independent research topic or participate in fully funded opportunities working with leading industry partners.
• For those on the industry pathway, study both at the University of Edinburgh campus and at an industrial partner's location, with guidance from academic colleagues and industry specialists at all times.
• We encourage our students to aim higher, presenting papers at prestigious conferences and submitting articles for publication.
• Access to a wide range of professional and personal development opportunities during your studies.
• While we invite students from around the globe to join our community, we don't offer this programme online or by distance learning.

Entry requirements

Find out our academic, English language, and application requirements for the PhD in Financial Technology.

Programme overview

View the learning outcomes and a typical training course schedule for a first-year student.

Fees and living expenses

When budgeting please consider associated administration fees and expenses as well as our funding support.

Ready to apply?

Review our application checklist and make your application to the PhD in Financial Technology.

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• Schools & departments

Financial Technology PhD

Awards: PhD

Study modes: Full-time

Funding opportunities

Programme website: Financial Technology

Introduction to Postgraduate Study at the University of Edinburgh

Join us online on 25 September to learn more about Scotland, the city of Edinburgh and postgraduate study at the University.

Find out more and register

Research profile

As part of a world-renowned University, triple accredited ( AMBA , AACSB , and EQUIS ) and ranked 5th in the UK for research power (Times Higher Education, 2022) within Business and Management, our Business School provides a dynamic and supportive research environment for our large and diverse graduate community.

The Business School's research mission is to produce theory-led, practically relevant research that addresses contemporary organisational and management challenges faced by businesses, public organisations, regulatory bodies, and policy-makers.

Our research subject groups

The School has significant research expertise in the following disciplines:

• Accounting and Finance
• Entrepreneurship and Innovation
• Management Science and Business Economics
• Organisation Studies

Our research themes

Staff across these six disciplinary subject groups work together to carry out research under the following themes:

• Climate Change and Sustainability
• Corporate Finance
• Entrepreneurship
• Interdisciplinary Accounting
• Leadership, Organisations, and Society
• Management Science

Research centres and networks

Our Centres and Networks bring together established and new researchers to develop and disseminate new knowledge:

• Business school research centres, institutes and networks

Interdisciplinary research

The Business School has capitalised on opportunities afforded by our Edinburgh location and cultivated links with other parts of the University to develop and lead new areas of expertise, in financial services and FinTech, creative industries, and digital tourism.

The School has links with other schools at the University, including Social and Political Studies, Mathematics and Law, allowing students with cross-disciplinary interests to find expertise, support and supervision.

Your research

As a doctoral researcher, you will have the opportunity to pursue original research and make a significant contribution to your chosen field.

The strength of your application for our programme depends on the fit of your proposal with the School’s research mission and themes, and particularly how it fits with the research interests of our academic staff.

We therefore strongly recommend you make contact with a potential supervisor before applying. Check out the links to our research disciplines and themes above to find one of our academic colleagues you would be interested to work with, who would have the expertise to support your studies.

When approaching a potential supervisor please ensure you give them an up-to-date CV and a draft research proposal. If you are not sure who to approach, please contact our admissions team (contact details can be found in the ‘Further information’ section).

• Guidance on writing a research proposal

Programme structure

The PhD in Financial Technology is 3 years full-time with an additional year at the end to allow you to complete the writing up of your thesis.

You will take taught courses during your first year to build your research skills and the knowledge required for your area of study: you will take one compulsory introduction course and up to 100 credits of option courses, depending on your area of research and topic.

To be awarded a PhD, you will need to defend your written thesis in an oral examination called a viva.

Training and support

Your supervisory team will be made up of at least two members of academic staff who will meet with you regularly to discuss your research progress and plans.

You will be assigned to one of our research subject groups as relevant for your topic, who will host regular research activities.

Our doctoral training programme will allow you to pursue research and professional skill training alongside your subject-specific taught courses.

There will be a variety of seminars and workshops delivered by international experts throughout the year, providing further opportunities for advanced learning and networking.

Another way the Business School supports your individual development is through dedicated funding. Doctoral researchers can apply to use this funding for further opportunities such as attending international conferences or professional body membership fees.

The Business School's location right in the heart of Edinburgh means you will be based close to the city’s cultural attractions, including a wealth of libraries, archives, museums and galleries.

As a doctoral researcher at the Business School, you will have access to our PhD study spaces, as well as the staff lunch room and kitchen.

The Business School has its own postgraduate library and study centre (The Hub), a Finance Computer Lab, and Librarian who can help you find the information you need throughout your studies.

Our world-class research programmes offer:

• supervision from acclaimed academic faculty within a wider range of subject areas
• courses designed to expand your knowledge base and develop your research strategies
• dedicated, modern facilities with state-of-the-art databases and specialist resources
• a peer network of students and inspiring alumni from across the globe
• a vibrant research environment with regular seminars, masterclasses, and events allowing you to connect and learn from experts across the business world

Career opportunities

The Business School offers training events and support for all our postgraduate research students in both academic and professional skills – we support a diversity of career pathways.

There are opportunities for doctoral researchers to be employed as our Research Assistants and Teaching Assistants.

Graduates from our postgraduate research degrees often pursue further careers at internationally renowned universities or become senior consultants for private and public bodies.

Why choose a PhD at the University of Edinburgh Business School?

Entry requirements.

These entry requirements are for the 2024/25 academic year and requirements for future academic years may differ. Entry requirements for the 2025/26 academic year will be published on 1 Oct 2024.

Entrance to the Business School PhD programmes is competitive. While academic credentials are important for a successful application we also pay great attention to the fit of students with the proposed project and to the research expertise and interests of our academic faculty.

Minimum academic requirements

For entry to the PhD programme applicants must meet the following minimum academic qualifications.

A postgraduate masters degree from an accredited institution in the UK or overseas showing evidence of above-average academic achievement. This includes:

a degree classification with a mark of 70% or more overall (University of Edinburgh level, or overseas equivalent)

normally a masters dissertation at the distinction level (University of Edinburgh level, or overseas equivalent) in finance, economics, informatics, physics, mathematics, engineering and other relevant programmes with significant quantitative elements.

Applications may be accepted from those still currently studying for a masters degree; however, any offer will be conditional on the successful completion of the degree at the required standard.

Applicants with a Bachelor's degree in finance, economics, informatics, physics, mathematics, engineering or other relevant programmes with significant quantitative elements will be given due consideration on a case-by-case basis, providing they have significant finance and technological industry experience, or relevant professional qualifications.

International qualifications

Check whether your international qualifications meet our general entry requirements:

• Entry requirements by country
• English language requirements

Regardless of your nationality or country of residence, you must demonstrate a level of English language competency at a level that will enable you to succeed in your studies.

English language tests

We accept the following English language qualifications at the grades specified:

• IELTS Academic: total 7.0 with at least 6.0 in each component. We do not accept IELTS One Skill Retake to meet our English language requirements.
• TOEFL-iBT (including Home Edition): total 100 with at least 20 in each component. We do not accept TOEFL MyBest Score to meet our English language requirements.
• C1 Advanced ( CAE ) / C2 Proficiency ( CPE ): total 185 with at least 169 in each component.
• Trinity ISE : ISE III with passes in all four components.
• PTE Academic: total 70 with at least 59 in each component.

Your English language qualification must be no more than three and a half years old from the start date of the programme you are applying to study, unless you are using IELTS , TOEFL, Trinity ISE or PTE , in which case it must be no more than two years old.

Degrees taught and assessed in English

We also accept an undergraduate or postgraduate degree that has been taught and assessed in English in a majority English speaking country, as defined by UK Visas and Immigration:

• UKVI list of majority English speaking countries

We also accept a degree that has been taught and assessed in English from a university on our list of approved universities in non-majority English speaking countries (non-MESC).

• Approved universities in non-MESC

If you are not a national of a majority English speaking country, then your degree must be no more than five years old* at the beginning of your programme of study. (*Revised 05 March 2024 to extend degree validity to five years.)

Find out more about our language requirements:

Fees and costs

Living costs.

You will be responsible for covering living costs for the duration of your studies.

Tuition fees

Scholarships and funding.

There are various scholarship opportunities. For those joining in September 2023, the Business School scholarships will be advertised late 2022 on our School website.

• Business School scholarships and funding

UK government postgraduate loans

If you live in the UK, you may be able to apply for a postgraduate loan from one of the UK’s governments.

The type and amount of financial support you are eligible for will depend on:

• your programme
• the duration of your studies
• your tuition fee status

Programmes studied on a part-time intermittent basis are not eligible.

• UK government and other external funding

Other funding opportunities

Search for scholarships and funding opportunities:

• Search for funding

Further information

• Postgraduate Research Admissions
• Phone: +44 (0)131 651 5337
• Contact: [email protected]
• Director of Research Degrees, Dr Ben Marder
• Contact: [email protected]
• University of Edinburgh Business School
• PGR Support Team
• 29 Buccleuch Place
• Central Campus
• Programme: Financial Technology
• School: Business School
• College: Arts, Humanities & Social Sciences

This programme is not currently accepting applications. Applications for the next intake usually open in October.

Start date: September 2023

Awards: PhD (36 mth FT)

Application deadlines

Supervisors can accept students on a first-come, first-served basis and the programme may close early if it reaches capacity.

• How to apply

Please find guidelines on how to apply for this programme on the Business School website.

• Applying to PhD Financial Technology

Find out more about the general application process for postgraduate programmes:

Alternatively, use our A–Z index

Attend an open day

Discover more about postgraduate research

PhD Accounting and Finance / Overview

Year of entry: 2024

• View full page
• Bachelor's (Honours) degree at 2:1 or above (or overseas equivalent); and
• Master's degree in a relevant cognate subject - with an overall average of 70% or above (or overseas equivalent)
• Professional qualifications other than a Bachelors Degree and/or relevant and appropriate experience may be taken into account for entry to a PhD programme.

Full entry requirements

Apply online

Please ensure you include all required supporting documents at the time of submission, as incomplete applications may not be considered.

Application Deadlines

The current deadline for consideration in internal funding competitions is 15 March 2024.

If you are applying for or have secured external funding (for example, from an employer or government) or are self-funding, you must submit your application before the below deadline to be considered. You will not be able to apply after this date has passed.

• For September 2024 entry: 30 June 2024

Programme options

Programme overview

• Develop leading research in Accounting and Finance.
• Join one of the world's most innovative and ambitious doctoral research schools.
• Ranked 3rd in the UK for research power in 'Business and Management Studies' (REF2021).

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To find out what studying on a postgraduate research programme at Manchester is like, visit our Open days and study fairs page and explore our virtual open week or future on-campus and international events.

We will be conducting our Humanities PGR virtual open week in October 2024. Find out about future events and postgraduate research sessions by signing up to our email alerts.

For entry in the academic year beginning September 2024, the tuition fees are as follows:

• PhD (full-time) UK students (per annum): £4,786 International, including EU, students (per annum): £21,000
• PhD (part-time) UK students (per annum): £2,393 International, including EU, students (per annum): £10,500

Further information for EU students can be found on our dedicated EU page.

Scholarships/sponsorships

To apply University of Manchester funding, you must indicate in your application the competitions for which you wish to be considered. The current deadline for most internal competitions, including Alliance Manchester Business School studentships is 15 March 2024.

All external funding competitions have a specified deadline for submitting your funding application and a separate (earlier) deadline for submitting the online programme application form, both of which will be stated in the funding competition details below.

For more information about funding, visit our funding page to browse for scholarships, studentships and awards you may be eligible for.

• ESRC North West Social Science Doctoral Training Partnership (NWSSDTP) PhD Studentships - Competition Closed for 2024 Entry
• China Scholarship Council - The University of Manchester (CSC-UoM) Joint Scholarship Programme - Competition Closed for 2024 Entry
• Alliance Manchester Business School PhD Studentships 2024 Entry - Competition Closed for 2024 Entry
• Commonwealth PhD Scholarships (High Income Countries)
• Humanities Doctoral Academy Humanitarian Scholarship 2024 Entry
• Commonwealth PhD Scholarships (Least Developed Countries and Fragile States)
• RADMA Doctoral Studies Funding 2024 Entry - Competition Closed for 2024 Entry
• PhD Scholarship for Research into Productivity
• President's Doctoral Scholar (PDS) Awards - Competition Closed for 2024 Entry
• Engineering and Physical Sciences Research Council Doctoral Training Partnership Studentship (EPSRC DTP)

Contact details

Programmes in related subject areas.

Use the links below to view lists of programmes in related subject areas.

• Accounting and Finance

Regulated by the Office for Students

The University of Manchester is regulated by the Office for Students (OfS). The OfS aims to help students succeed in Higher Education by ensuring they receive excellent information and guidance, get high quality education that prepares them for the future and by protecting their interests. More information can be found at the OfS website .

You can find regulations and policies relating to student life at The University of Manchester, including our Degree Regulations and Complaints Procedure, on our regulations website .

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PhD in Development Studies

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Course closed:

Development Studies is no longer accepting new applications.

In the first year, all students will take a compulsory Research Methods course. Students are also encouraged to attend a wide range of seminars and other events that are organised by the Centre of Development Studies and departments throughout the University, such as the Social Sciences Research Methods Centre.

The essence of the Cambridge experience, however, is that the PhD candidate works closely with the PhD supervisor. The supervisor will help the candidate develop the thesis project through discussion and the review of draft materials presented by the candidate.

The process of working on the thesis will differ from candidate to candidate, depending on their project, their preferences and the style of supervision adopted. However, in general, it is expected that the first year (or two years in case of part-time students) will be devoted not only to completing the Research Methods modules, but also to the development of a detailed and well-thought-through thesis outline and methodology. In particular, at the outset, the student should devote some time to considering how they will be making an original contribution to the field through their work. The students will be assessed on this before they are approved for PhD status.

It is important to note that the part-time PhD at Cambridge is not a distance-learning course. Part-time students are expected to fully engage with the Department, to integrate into the research culture of the University and to attend the University on a regular basis for supervision, study, skills training, research seminars and workshops.

Part-time applicants from outside the UK should note that visa restrictions may apply, and that not all sources of funding are available to part-time students. It is the responsibility of the student to find out this information. 

Learning Outcomes

By the end of the programme, candidates will have acquired excellent skills, experience and knowledge to undertake postdoctoral work  (research, teaching or both) or another profession related to the field of development studies.

The Postgraduate Virtual Open Day usually takes place at the end of October. It’s a great opportunity to ask questions to admissions staff and academics, explore the Colleges virtually, and to find out more about courses, the application process and funding opportunities. Visit the  Postgraduate Open Day  page for more details.

See further the  Postgraduate Admissions Events  pages for other events relating to Postgraduate study, including study fairs, visits and international events.

Departments

This course is advertised in the following departments:

• Department of Politics and International Studies
• Centre of Development Studies

Key Information

3-4 years full-time, 4-7 years part-time, study mode : research, doctor of philosophy, centre of development studies this course is advertised in multiple departments. please see the overview tab for more details., course - related enquiries, application - related enquiries, course on department website, dates and deadlines:, michaelmas 2024 (closed).

Some courses can close early. See the Deadlines page for guidance on when to apply.

Funding Deadlines

These deadlines apply to applications for courses starting in Michaelmas 2024, Lent 2025 and Easter 2025.

Similar Courses

• Latin American Studies PhD
• Politics and International Studies PhD
• Development Studies MPhil

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