UMass Amherst Finance PhD Program Overview

UMass Amherst Finance PhD Program: A Detailed Look

The Finance PhD program at the University of Massachusetts Amherst, Isenberg School of Management, is a rigorous and research-intensive program designed to prepare students for academic careers at leading universities. The program emphasizes a strong foundation in economic theory and quantitative methods, with a focus on producing impactful scholarly research in finance.

Curriculum

The first two years of the program are primarily dedicated to coursework. Core courses cover microeconomic theory, macroeconomic theory, econometrics, and financial economics. Students delve deep into topics such as asset pricing, corporate finance, and market microstructure. Elective courses allow for specialization in areas of interest, aligning with faculty expertise and research opportunities. The curriculum is continually updated to reflect the latest advancements in financial research.

Research Focus

A crucial component of the program is research. Students are expected to engage in research from the outset, working closely with faculty mentors. The program provides ample opportunities for students to develop their research skills through seminars, workshops, and individual guidance. Faculty research interests span a wide range of areas, including:

Asset Pricing: Exploring asset pricing models, behavioral finance, and investment strategies.
Corporate Finance: Examining capital structure, corporate governance, mergers and acquisitions, and entrepreneurial finance.
Financial Intermediation: Studying the role of banks and other financial institutions in the economy.
Market Microstructure: Analyzing trading behavior, market efficiency, and regulatory issues.

Faculty and Resources

The Finance Department boasts a dedicated and accomplished faculty actively engaged in cutting-edge research. Faculty members publish regularly in top-tier finance journals. They are committed to mentoring students and providing them with the support and resources necessary to succeed. Resources available to PhD students include access to extensive databases, computing facilities, and funding for conference travel.

Admissions

The program seeks highly motivated students with strong analytical and quantitative skills. A bachelor’s degree is required, and prior coursework in economics, mathematics, statistics, or a related field is highly recommended. The admissions committee considers GRE scores, transcripts, letters of recommendation, and a statement of purpose. A strong research interest and a clear understanding of the program’s focus are essential.

Outcomes

Graduates of the UMass Amherst Finance PhD program have secured faculty positions at reputable universities both domestically and internationally. The program’s emphasis on rigorous research and close faculty mentorship contributes to its graduates’ success in the academic job market. The program is known for preparing well-rounded scholars capable of making significant contributions to the field of finance.