Ph.D Requirements



Application Process

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Sample of Ph.D. Program Coursework

Please note that the program below is just a sample and is subject to change depending on course availability and waivers granted for prior coursework. In addition, the time required to complete the dissertation may vary and students can teach a fifth year in order to continue receiving funds.
Year 1
Year 2
Year 3
Year 4 


Year 1

Fall Semester

Empirical Research in Financial Accounting I B10.4301 (3)

This seminar exposes students to empirical research in financial accounting. The course covers a wide range of topics including econometric and methodological issues, security prices and accounting information, and earnings management.

Financial Theory I [Introduction] B40.2331 (3)

The first course in theory of financial decision making. Focus is primarily on individual decision making under certainty and uncertainty. Topics include valuation theory, asset selection, general portfolio theory, asset pricing theory, and general equilibrium in financial markets.

Microeconomic Theory I G31.1023 (4)

**Course offered by Graduate School of Arts and Sciences, not Stern

Theory of the firm and consumer behavior; introduction to the theory of perfectly competitive and monopolistic markets; pricing techniques; introduction to game theory. 

Research Practicum

Spring Semester

Analytical Models in Financial and Managerial Accounting B10.4310 (3)

This course explores analytical models both in the financial and in the managerial accounting literature. The format is highly interactive; students study assigned papers in depth and present them in class. Analytical research design issues are emphasized. The linkages between the analytical models and the testing of their implications are elucidated. In this context, occasional empirical papers that test well-articulated analytical models' implications are also discussed.


Financial Theory III B40.2333 (3)

The third course in the theory of financial decision making. The first half of this course deals with issues in corporate finance. Topics include agency theory, signaling and assymetric information models, taxes, dividends and capital structure. The second half of the course focuses on the pricing of options, futures, and other derivative security instruments.
 

Regression and Multivariate Analysis B90.3311 (3)

A data-driven applied statistics course, focusing on the twin subjects of regression and multivariate data analysis. This course emphasizes applications to the analysis of business data and makes extensive use of computer statistical packages. Topi cs include data analysis and management, multiple linear and nonlinear regression, selection of variables, residual analysis, model building, autoregression, and multicollinearity; Topics in multivariate data analysis include principle components, analysi s of variance, categorical data analysis, factor analysis, cluster analysis, discriminant analysis, and logistic regression.

Microeconomic Theory II G31.1024 (4)

**Course offered by Graduate School of Arts and Sciences, not Stern

Introduction to general equilibrium theory, welfare economics, and imperfect competition.

Research Practicum

Summer Semester

Summer Paper

Research Practicum


Year 2

Fall Semester

Equity Valuation and Accounting Data: Theory and Empirical EvidenceB10.4311 (3)

This seminar addresses four (related) questions:

  (i) How does a firm's equity value relate to anticipated future
    realizations of accounting data?
  (ii) How does value, and changes in values (retunrs) relate to
    contemporaneous realizations of accounting data?
  (iii) How does the expected evolution of accounting data relate
    to the answers to questions (i) and (ii)?
  (iv) How do the principles of accounting measurements relate
   

to the answers to questions (i), (ii), and (iii)?

Market Microstructure B40.3392 (3)

Market microstructure is the sub-field of financial economics that focuses on trading mechanisms (usually, continuous securities trading). Although the subject has considerable importance in its own right, it has made useful contributions to other areas of finance. Microstructure-based proxy variables for asymmetric information (notably the bid-ask spread) have found use in corporate finance and accounting studies. Also, increasingly often, trading costs are featured in asset pricing and option valuation models, and in tests of these models. The course will examine some of these applications.

Econometrics I G31.2100 (4)


**Course offered by Graduate School of Arts and Sciences, not Stern

Concise introduction to probability theory and to the problem and methods of statistical inferrence as encountered and applied in econometrics: maximum likelihood theory, method of moments, method of least squares, and hypothesis testing.

Research Practicum

Spring Semester

Empirical Research in Financial Accounting II B10.4310 (3)

This seminar is a continuation of Empirical Reserach in Financial Accounting I (B10.4301) with an emphasis on contemporary issues in accounting research.

Financial Theory II B40.2332 (3)

The second course in the theory of financial decision making. Focus is primarily on methods of empirical financial economics. Standard econometric procedures and the newest techniques in estimating procedures are studied in the context of applications to financial asset pricing and to corporate finance issues.

Empirical Corporate Finance B40.3328 (3)

This seminar provides a survey of some recent papers in corporate financial theory and related topics. During this semester, the topics covered will be grouped under the following topics: Corporate Governance, Institutional Investors, Corporate Refocusing, Corporate Risk Management, and Valuation of Corporate Debt with Default.

Research Practicum

Summer Semester

Comprehensive Examination

Research Practicum


Year 3

Dissertation Seminar (9)
Dissertation Proposal

Summer Semester

Doctoral Teaching Workshop

RA/TA Requirements: Teach 1 course - 1 semester


Year 4

Dissertation Seminar (9)
Proposal Defense
Final Defense

RA/TA Requirements: Teach 1 course - 1 semester