The joint Wisconsin Ph.D. Program in finance and economics was created in recognition of the strong interrelationship between financial markets and the broader economy. The program trains researchers for tenure-track positions at the nexus of these two fields. Specializing in this area will provide students the opportunity to expand their academic search to both economics and finance departments at top universities.

Students in the joint degree program take a common curriculum.

Students are admitted to both the Wisconsin School of Business and the economics department at the University of Wisconsin–Madison, forming a dissertation committee comprised of faculty from both business and economics. Students who are interested in this joint degree should apply to the Ph.D. specialization in finance or the Ph.D. in Economics and indicate their interest in the statement of purpose. The program is highly selective because it entails admission to both departments.

The core areas of research in the Department of Finance, Investment, and Banking include asset pricing, corporate finance, market microstructure, banking, and finance theory. Our faculty members contribute to significant advancements in the field, as evidenced by our recently published journal articles.

Academic Requirements

In addition to meeting the Graduate School requirements, students should have the following background to be admitted to the finance, investment, and banking department at the Wisconsin School of Business:

  • Completed and performed well in basic undergraduate economics or finance courses
  • Completed and performed well in mathematics, calculus, and linear algebra, including statistics and real analysis

Students must also be granted admission to the Department of Economics at UW–Madison.

General Ph.D. Requirements

In addition to meeting the requirements of the specific academic department, all students must meet the general Ph.D. requirements of both the UW–Madison Graduate School and the Wisconsin School of Business. Students pursuing the joint Ph.D. in finance and economics are also subject to the doctoral program requirements of the Department of Economics at UW–Madison.

Faculty Research Interests

Research interests:
  • Measures of risk and asymmetries in risk
  • Momentum and reversal in stock market returns
  • Liquidity in financial markets
Research interests:
  • Financial intermediation
  • Market microstructure
  • Information economics
  • Search and matching theory
Research interests:
  • Consumer credit
  • Bankruptcy
  • Foreclosures
  • Banking industry dynamics
Research interests:
  • Asset pricing
  • Derivatives
  • Econometrics of financial markets
  • Equilibrium modeling
Research interests:
  • Investment management
  • Wealth management
  • Liquidity
Research interests:
  • Financial intermediation
  • Financial regulation
  • Economic and financial networks
  • Corporate finance
  • Portfolio theory
Research interests:
  • Banking and financial institutions
  • Monetary economics and policy
Research interests:
  • Business cycles
  • Corporate finance
  • Financial institutions and markets
  • Financial regulation
Research interests:
  • Corporate finance
  • Corporate investment
  • Executive compensation
  • Mergers and acquisitions
  • Intangible capital
Research interests:
  • Corporate financial policy
  • Corporate risk management
  • Corporate finance and industrial organization
  • Capital market imperfections and stability
  • International finance
Research interests:
  • Financial education and development of financial capability
  • Financial markets
Research interests:
  • Financial markets
  • Asset pricing
  • Trading strategies
Research interests:
  • Banking
  • Macroeconomics
  • Monetary and financial economics
  • Evolutionary foundations of economic behavior
Research interests:
  • Asset pricing
  • Financial econometrics
Research interests:
  • Monetary, macro, and labor economics
  • Asset pricing

Connect with Current Students

We encourage you to contact our doctoral students in the finance and economics joint degree program to hear their perspectives on the Wisconsin Ph.D.

View current student profiles