phd in finance canada

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The PhD specialization in Finance at McGill prepares students for research-oriented academic careers. While students from all backgrounds are encouraged to apply, the typical student holds an undergraduate or a master's degree in economics, finance, mathematics, statistics, computer science, engineering, or physics.

The program is normally completed in five years. The first two years in the program are devoted primarily to taking courses in finance, as well as supporting disciplines (economics, mathematics, and econometrics/statistics). After the first two years, students enter the dissertation phase of the program. The program is established in collaboration with Montreal’s major universities, allowing students access to a wide range of doctoral courses. Students are expected to interact with faculty professors to orient their dissertations, develop research skills, and initiate potential research collaborations. Overall, the program fosters a collaborative research environment and provides comprehensive support throughout the doctoral process.

Current Area Research Topics

• Asset Pricing
• Corporate Finance
• Corporate Governance
• Credit Risk and Default Risk
• Derivatives and Financial Markets
• FinTech, Cryptocurrencies, and Central Bank Digital Currencies
• Financial Econometrics
• Financial Intermediation
• International Finance
• Sustainable and Socially Responsible Finance

Typical Course Structure

Fall semester

FINE 706 Introduction to Financial Economics ECON 709 Microeconomic Theory ECON 662 Econometrics I

Winter semester

FINE 707 Corporate Finance ECON 711 Microeconomic Theory 2 ECON 663 Econometrics II

Second Year

FINE 702 Asset Pricing Theory FINE 711 Empirical Corporate Finance Elective

FINE 703 Empirical Asset Pricing EDPH 689 Teaching and Learning in Higher Education Elective

ECON 712 Macroeconomic Theory 1 ECON 713 Macroeconomic Theory 2 ECON 742 Empirical Microeconomics ECON 763 Financial Econometrics ECON 661 Applied Time-Series & Forecast FINE 709 International Finance Seminar FINE 710 Fixed Income Securities Theory MPHE 745 HEC80-223 Macro Asset Pricing MPHE 746 HEC80-646A Stochastic Calculus I MPHE 743 HEC80222A Contingent Claims in Incomplete Markets

Typical Support Fields

• Mathematics
• Econometrics/Statistics

Related Content

Prof. Paul Beaumont Finance Area PhD Representative

Department and University Information

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PhD Program

Pursue Excellence, Drive Change, Lead Globally

5 year full-time program

On campus in-person Toronto, Ontario, Canada

Attend Rotman seminars

Applications for Fall 2025 are now open. Apply here .  Application deadline is January 10, 2025. We are offering application fee waivers for the first 60 qualified Black and/or Indigenous students as well as students from Iran and Ukraine. Please note that applicants must meet admission requirements, complete their admission application, submit all required documentation including transcripts, CV, Letter of Intent and English Language Proficiency Test scores, if applicable, as well as apply for the application fee waiver .

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Join a close-knit community of scholars at one of the world’s top-ranked centres of management research – at the University of Toronto, in the heart of Canada’s vibrant, culturally diverse financial capital. As part of Rotman’s PhD program, you’ll explore new ideas, develop insights that inspire solutions and help to spark broader conversations among corporate and public leaders.

The PhD in Management is a challenging 5 year program which features course-work, cutting edge research training, and close working relationships with some of the best management academics in the world.  The success of our program is evidenced in the impressive careers of our graduates.

PhD students work closely with faculty in our research-led culture which emphasizes rigor, creativity and innovation. The PhD curriculum is carefully designed to support students as publishing scholars as early as possible in their doctoral studies and we have a terrific track record of placements in leading business schools. Our program is divided into 7 distinct streams of research: Accounting , Economic Analysis and Policy , Finance , Marketing ,  Operations Management and Statistics , Organizational Behaviour and Human Resource Management , and Strategic Management .

We are Rotman

The Rotman School is ranked 16th in the world by the Financial Times for its faculty and research. PhD students at Rotman enjoy an academic culture of collaboration and research excellence. Our doctoral program is delivered in seven streams that reflect the organization of the school as a whole: 

• Economic Analysis and Policy
• Organizational Behaviour and Human Resource Management
• Operations Management and Statistics  
• Strategic Management

PhD students at Rotman study in small classes and form close working relationships with faculty. Take a moment to get to know our program requirements. If you are a strong candidate with an appetite for academic excellence, we encourage you to contact us to learn more about the Rotman PhD.

The Rotman PhD is for ambitious scholars who plan to teach and research at some of the world's top business schools. If you are looking to study with leading faculty, publish in noted academic journals, and build a global network of like-minded scholars, the Rotman PhD program is for you. Our goal is to prepare our PhD students for exceptional careers in the field of management, and all aspects of the doctoral program are developed with your professional goals in mind. Find out how the Rotman School at the University of Toronto has been the launching pad for many stellar academic careers.

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Rotman PhD Courses

2024-2025 phd course schedule.

Please view the Course Schedule above for the list of current courses.  

Grade Reviews and Academic Appeals

Graduate students have the right to dispute substantive or procedural academic matters, such as grades, evaluations of comprehensive exams and other program requirements, decisions regarding their continuation in a program, or any other decisions related to the application of academic regulations. Initially, students should try to resolve the issue with the instructor or relevant individual involved. If the issue remains unresolved and the student wishes to pursue it further, they should discuss it with the Graduate Coordinator or the Program Director.  EXCEPTION: Appeals related to failure of a final oral examination or related to termination of registration in a program should be made directly to the SGS Graduate Academic Appeals Board (see SGS Calendar entry on Academic Appeals). All academic appeals, except for those specified as exceptions above, must be initiated within the student's primary graduate unit, unless the appeal pertains to courses from outside that unit. Appeals concerning courses taken outside the student's home department should be handled by the department that offered the course. The chair of the student’s home department will be informed. The student must submit an appeal within eight weeks of the decision being contested. The request must be made in writing using a   Notice of Appeal Form (PDF)   submitted to the   PhD Program Office ( room 1050 at 105 St. George Street or by email:  [email protected] ) and it will then be considered by the Graduate Department Academic Appeals Committee (GDAAC).

Details regarding the filing of appeal can be found  here . After following these steps students have the option to appeal to the   Graduate Academic Appeals Board (GAAB) (PDF) . Students must file a   Notice of Appeal Form (PDF)   to initiative the process   within eight weeks   of receipt of the communication at the immediately prior level of appeal.

Graduate Department Academic Appeals Committee

The Graduate Department Academic Appeals Committee (GDAAC) is formed under the authority of the Vice Dean of MBA Programs and the Vice Dean of Undergraduate and Specialized Programs (collectively referred to as the “Vice Dean”) at the start of each academic year. The Committee serves in an advisory capacity to the Vice Deans, who make decisions based on the Committee's recommendations. Committee members may serve for multiple years.

Within the academic appeals process, the GDAAC possesses significant discipline-specific expertise to evaluate academic matters in appeals and plays a crucial role in the overall procedure. The committee can only consider academic issues. Decisions regarding admission to academic programs are not eligible for appeal, and the committee does not address non-academic matters (such as fees).

Rotman GDAAC Membership for 2024-25 Committee Officers:

• Chair : Geoffrey Leonardelli
• Chair Alternate : Jeff Callen
• Secretary : Curtis Lake

Voting Members, Faculty:

• Geoffrey Leonardelli
• Jeff Callen
• Francesco Bova
• Ralph Tassone
• Faculty Alternates : John Oesch, Becky Reuber, Kevin Wang

Voting Member, Student:

• Samhita Srinivasan (VP Academic, GBC)
• Student Alternate : Chandra Piduri (Academics Manager, GBC)

GDAAC enquiries may be directed to   [email protected]  

Student Life

Are you a promising scholar driven to achieve success in your studies? At Rotman we believe that your success is fueled by support that extends well beyond scholarship. Your ability to achieve both during the program and after graduation depends on strong networks with faculty and your peers. We aim to give you the tools you need to complete your program while achieving a balanced life outside of the classroom.  Whether you're looking for a new living arrangement, wanting to attend a research event, or wondering how previous students experienced their doctorate, the Rotman Phd progam has the support you need to succeed. Find out what it's like to study at one of the world's top business schools, and live in Toronto, Canada's cultural and financial capital. Finding a Place to Stay Research Seminars at Rotman University of Toronto

Daphne Baldassari, Rotman PhD'23: Dare to Risk

Board games and pizza night, rotman phd: leading the world in research, rotman phd: from support to strength.

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