Ph.D. Real Estate and Urban Land Economics | Wisconsin School of Business at UW Madison

The Wisconsin Ph.D. Program in real estate and urban land economics prepares individuals for careers in research and teaching at the university level. The program is highly quantitative, providing a strong foundation in financial and economic theory, as well as in mathematical statistical techniques. Through a program of elective courses and dissertation research, students specialize in particular areas of real estate economics and finance.

The department's core areas of research include urban and housing economics, housing and asset pricing, securitization and real estate capital markets, and financing and investment of commercial property. 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 UW–Madison Graduate School requirements, students should have the following:

Three semesters of calculus, two semesters or mathematical statistics, one semester of real analysis, and one semester of linear algebra
Introductory coursework in microeconomics and macroeconomics
A course in real analysis is required for the program, and students are strongly encouraged to complete such a course prior to starting the program. Otherwise, it is desirable to take Analysis I in the mathematics department at the University of Wisconsin–Madison as early in the program as possible, and no later than the fall semester of the second year.
Students are expected to audit Real Estate Finance and at least one more master's level course in real estate.

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Andra Ghent

Ph.D. Faculty Coordinator

608-262-8775
Email me ghent@wisc.edu

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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.

Foundation Coursework

Advanced Real Estate Finance Theory OR Real Estate Advanced Urban Land Economics
Theory of Finance I
Theory of Finance II
Economic Statistics and Econometrics I
Economic Statistics and Econometrics II
Microeconomics I
Macroeconomics I
Microeconomics II

Workshops

Starting in the second year, students take the real estate workshop. This workshop is designed to help students make progress toward completion of their second-year paper and their dissertation. In addition, students take a finance or economics workshop each semester beginning with the second semester in the program and continuing as long as the student is in residence.

Students are encouraged to audit both workshops during their first semester.

Coursework in Major Area

At the beginning of the second year, each student proposes a set of three advanced courses that form a coherent package and enhance the student's research skills. Students are free to choose elective courses offered by the economics, finance, mathematics, or statistics departments. It may also be appropriate to choose courses in computer science, law, psychology, accounting, or other areas taught at UW–Madison.

Summer Paper

During the second summer in the program, each student completes a research paper on a real estate economics or finance topic. This paper may be either theoretical or empirical, and should contain elements of original research that extend the existing literature. Real estate faculty members may provide guidance during the paper's development. Each student also makes an oral presentation of the paper to the real estate faculty.