UNIVERSITY OF SOUTHERN CALIFORNIA · UNITED STATES
Finance PhD Program
PhD · Taught in en
At a glance
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Duration
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IELTS
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Tuition / yr
en
Language
PhD
Level
- Focus on academic careers in financial economicsCareer Path
- Research-focused, collegial, and interactive environmentProgram Culture
- Low PhD student/faculty ratio with open-door policyFaculty Interaction
- Weekly scholarly presentations and research seminarsAcademic Engagement
- Students treated as 'junior colleagues' for researchStudent Role
- Opportunities for collaboration and peer mentorshipCollaboration
The Finance PhD program at the University of Southern California (USC) Marshall School of Business is designed to prepare students for academic careers in financial economics. Financial economics focuses on how individuals and firms manage their resources, including how they raise and invest capital, and how financial assets are priced. The program delves into specific topics such as the determinants of asset returns, risk pricing, investor behavior, and trading mechanisms, as well as corporate finance areas like capital structure, payout policies, financial intermediation, venture capital, mergers and acquisitions, and corporate governance. The program fosters a research-focused, collegial, and supportive environment where PhD students are treated as junior colleagues. This approach encourages early engagement in academic research with faculty, facilitated by a low student-to-faculty ratio and an open-door policy. Students benefit from frequent and meaningful interactions with faculty on research, career development, and teaching. Peer collaboration is also a key component, with students often working together on research projects. Students participate in weekly scholarly presentations featuring invited faculty from around the world. Internal seminars and reading groups provide platforms for exchanging ideas and receiving feedback on research. Additionally, seminars in applied economics and macroeconomics are available to PhD students, enriching their academic experience and broadening their research perspectives.
Curriculum
The curriculum is structured over four years, with a strong emphasis on research and dissertation development. Students progress through core coursework, specialized seminars, research forums, and independent study projects. A faculty mentor guides each student throughout the program.
- Year 1
- Selected Issues in Economic Theory IGSBA 602
- Regression and Generalized Linear Models for Business ResearchGSBA 604
- Research ForumFBE 621
- Elective(s)
- Selected Issues in Economic Theory IIGSBA 612
- Fundamentals of Corporate FinanceFBE 630
- Fundamentals of Asset PricingFBE 633
- Statistics or research design
- First year paper (supervised reading and proposal/study)
- Year 2
- Advanced Corporate FinanceFBE 631
- Advanced Asset PricingFBE 634
- Research ForumFBE 621
- Elective(s)
- Selected Topics in Finance Research #1FBE 670
- Selected Topics in Finance Research #2FBE 670
- Tutorial on the Research ProcessGSBA 690
- Communication for Doctoral StudentsBUCO 637
- Second Year Paper (Screening Exam)
- Year 3
- Selected Topics in Finance Research #3-#NFBE 670
- Research ForumFBE 621
- Dissertation proposal (USC Qualifying Exam)
- Third Year Paper
- Year 4
- Doctoral DissertationGSBA 794
- Research ForumFBE 621
- Dissertation
- Job Market Paper
Careers
The Finance PhD program prepares graduates for leadership roles in academia and research. Alumni contribute to marketing research and practice globally, often becoming thought leaders in business schools worldwide.
- Assistant Professor
- Associate
- Economist
- Researcher
Frequently asked questions
- What is the duration of the Finance PhD program?
- The Finance PhD program at the University of Southern California is structured over four years, with a strong emphasis on research and dissertation development.
- What are the main career outcomes for graduates of this program?
- The program prepares graduates for leadership roles in academia and research, with alumni often becoming thought leaders in business schools worldwide.
- What is the application deadline for the Finance PhD program?
- The application deadline for Fall admission is typically mid-January; for Fall 2026 admission, it is January 15, 2026. Please check the official admissions page for the most current information.
- What are the required documents for applying to the Finance PhD program?
- Required documents include an online application, academic transcripts, GRE scores, English proficiency test scores, letters of recommendation, a statement of purpose, and a curriculum vitae (CV).
- Does the program offer any scholarships or financial aid?
- The program offers fellowships and awards such as the Gold Family Graduate Fellowship and the USC Del Amo Foundation Research Award for eligible PhD candidates.
- What is the academic environment like in the Finance PhD program?
- The program fosters a research-focused, collegial, and supportive environment with a low student-to-faculty ratio, encouraging early research engagement and frequent interaction with faculty.
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Fees
Tuition (international)—
Tuition (home)—
Living—
Tuition and living cost information is not provided on the program page.
How to apply
1. Complete the Online ApplicationSubmit your application through the USC Liaison CAS portal. Ensure all required fields are completed accurately.
2. Provide TranscriptsSubmit academic transcripts from all previously attended institutions.
3. Submit GRE ScoresGRE scores are required for application review. (Note: While not explicitly stated as waived, check the application portal for the most up-to-date requirements regarding GRE).
4. Submit English Proficiency ScoresInternational applicants must demonstrate English proficiency. Check the program's specific requirements for accepted tests and minimum scores (e.g., TOEFL, IELTS).
5. Submit Letters of RecommendationProvide letters of recommendation from individuals who can attest to your academic and research potential.
6. Submit Statement of PurposeArticulate your academic and research interests, career goals, and reasons for applying to the USC Finance PhD program.
7. Submit Curriculum Vitae (CV)Include your academic background, research experience, publications, and any other relevant qualifications.
Scholarships
Heather Anne Barnes Endowed Scholarship—
Gold Family Graduate Fellowship$5,000
USC Del Amo Foundation Research Awardup to $5,000
Hovel Summer Travel Awardup to $5,000
Frequently asked questions
What is the duration of the Finance PhD program?
+
The Finance PhD program at the University of Southern California is structured over four years, with a strong emphasis on research and dissertation development.
What are the main career outcomes for graduates of this program?
+
The program prepares graduates for leadership roles in academia and research, with alumni often becoming thought leaders in business schools worldwide.
What is the application deadline for the Finance PhD program?
+
The application deadline for Fall admission is typically mid-January; for Fall 2026 admission, it is January 15, 2026. Please check the official admissions page for the most current information.
What are the required documents for applying to the Finance PhD program?
+
Required documents include an online application, academic transcripts, GRE scores, English proficiency test scores, letters of recommendation, a statement of purpose, and a curriculum vitae (CV).
Does the program offer any scholarships or financial aid?
+
The program offers fellowships and awards such as the Gold Family Graduate Fellowship and the USC Del Amo Foundation Research Award for eligible PhD candidates.
What is the academic environment like in the Finance PhD program?
+
The program fosters a research-focused, collegial, and supportive environment with a low student-to-faculty ratio, encouraging early research engagement and frequent interaction with faculty.