Finance, PhD
Master both theoretical and empirical financial economics in a program that trains you for elite, journal-caliber research. Learn alongside a faculty ranked among the most productive in the world.
Quick facts
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Additional facts
STEM-OPT extension eligible: No
International students (F1), this program is not eligible for the STEM-OPT extension.
Accreditation
The W.P. Carey School of Business and all its programs are accredited ...
Accredited by the Higher Learning Commission.
Degree description
Finance, PhD degree description
The primary objective of the Doctor of Philosophy program in business administration with a concentration in finance is to train you for a career as a professor of finance at major research universities.
The program provides you with a challenging course of study focused on the most recent developments in the theoretical and empirical aspects of financial economics. Combined with work in economics and statistics, the program gives you a foundation for understanding and critically analyzing current issues in finance.
You learn from thought leaders in their respective fields and draw on the resources of the largest public university in the U.S. The faculty produce advanced empirical research in the areas of equity markets, corporate finance, organization structure, international finance, financial institutions and asset pricing. The program is relatively small, promoting faculty-student mentoring relationships; you receive personal attention.
The program seeks highly capable students with strong academic backgrounds and, preferably, work experience.
Why earn your PhD in finance at ASU?
The W. P. Carey School of Business Department of Finance ranks among the best in the world for research output in top journals, with faculty actively publishing research in asset pricing, corporate finance, household finance and international finance. Because of this range in interests, rather than being channeled toward a single methodological tradition, you can follow your research interests across the full landscape of financial economics, supported by faculty operating at the highest levels of the discipline.
Curriculum
This graduate degree includes courses focused on a specialized topic, so you can advance your skills for further professional opportunities. Explore all courses below.
84 credit hours, a written comprehensive exam, a prospectus and a dissertation
Plan of Study Comprehensive Examinations Candidacy Dissertation Requirements Students must be enrolled for at least one credit hour that appears on the plan of study or for one hour of appropriate graduate-level credit, such as 795 Continuing Registration, during the semester in which the student defends the dissertation, even if it is a summer session. For detailed information regarding the university's doctoral degree requirements, students should refer to the Graduate College policy and procedures for the PhD. Maximum Time Limit
At least 30 credit hours of the approved doctoral degree program, which may include research credit, and 12 dissertation credit hours must be completed after admission to the program. Students may not apply credit hours earned for a doctoral degree previously awarded at ASU or at another institution toward this doctoral degree. However, at the individual academic unit's discretion, students may apply up to 30 relevant credit hours from a previously awarded master's degree toward their doctoral plan of study.
After the student has completed all necessary coursework on their approved plan of study, the academic unit may initiate the scheduling and administering of the comprehensive examination. At minimum, the examination consists of a written exam; the academic unit may also require an oral exam.
Doctoral students are notified that they have achieved candidacy status by a letter from the dean of the Graduate College after passing the comprehensive examinations and successfully defending the dissertation prospectus.
Students are required to present a dissertation to satisfy the research requirement for the doctorate. The dissertation is defended in an oral examination commonly known as the dissertation defense.
Doctoral students must complete all program requirements within 10 consecutive years.
Admission requirements
Here are the admission and application details
All students are required to meet general university admission requirements.
U.S. applicants (opens in new window) | International applicants (opens in new window) | English proficiency (opens in new window)
Applicants must fulfill the requirements of both the Graduate College and the W. P. Carey School of Business. Applicants must have earned a bachelor's or master's degree from a regionally accredited institution. Applicants must have a minimum cumulative GPA of 3.00 (scale is 4.00 = "A") in the last 60 hours of their first bachelor's degree program or a minimum cumulative GPA of 3.00 (scale is 4.00 = "A") in an applicable master's degree program. All applicants must submit: Additional Application Information Admission to the program is granted to applicants who present convincing evidence of high-order analytical skills, intellectual curiosity, the discipline required for original inquiry, and the ability to work independently in pursuing scholarly research. While many accepted students have a Master of Business Administration or Master of Science in a business-related field, others have a background in other areas, such as engineering, economics, mathematics or physics.
An applicant whose native language is not English must provide proof of English proficiency regardless of their current residency. The minimum TOEFL iBT® requirement is a score of at least 4, or a score of 80 (taken at a testing center) if taken before January 21, 2026. A score of 26 is required on the ASU Speaking Proficiency English Assessment Kit for applicants who wish to apply for teaching associateships.
Application deadlines
| Session | Modality | Deadline | Type |
|---|---|---|---|
| Session A/C | In Person | 01/01 | Priority* |
*A priority deadline means that applications submitted and completed before the priority deadline will receive priority consideration. Applications submitted after the priority deadlines will be reviewed in the order in which they were completed and on a space-available basis. An application is complete after all materials are received by Admission Services.
Paying for college
Use our calculator to estimate your full-time or part-time tuition fees for this program prior to any financial aid. Keep in mind that most of our students receive financial aid, which can reduce out-of-pocket costs.
Get an estimateCareer opportunities
Careers this finance, PhD degree prepares you for
Graduates are well prepared for careers in research and academia.
Career opportunities include:
- assistant professor
- professor
- researcher
Contact information
Use the contact information below to get in touch if you're a current student or have general questions.
Prospective students should fill out the Request for Information form.
Business Administration
|
BAC 501
wpcareyfin@asu.edu
480-965-3131
Frequently asked questions about degree programs
Accelerated programs allow students the opportunity to expedite the completion of their degree.
Accelerated master's
These programs allow students to accelerate their studies to earn a bachelor's plus a master's degree in as few as five years (for some programs).
Each program has requirements students must meet to be eligible for consideration. Students typically receive approval to pursue the accelerated master's during the junior year of their bachelor's degree program. Interested students can learn about eligibility requirements and how to apply.
Concurrent degrees allow students to pursue their own personal or professional interests, earn two distinct degrees and receive two diplomas. To add a concurrent degree to your existing degree, work with your academic advisor.
Joint programs, or jointly conferred degrees, are offered by more than one college and provide opportunities for students to take advantage of the academic strengths of two academic units. Upon graduation, students are awarded one degree and one diploma conferred by two colleges.
ASU adds new programs to Degree Search frequently. Come back often and look for the "New Programs" option.
ASU Online offers programs in an entirely online format with multiple enrollment sessions throughout the year. See https://asuonline.asu.edu/ for more information.
The Western Regional Graduate Program (WRGP) provides a reduced tuition rate to non-resident graduate students who qualify. Visit the WRGP/WICHE webpage for more information: https://graduate.asu.edu/wiche.
