byDinesh
Updated on - 1 Jul, 2024
Financial Markets Ph.D. is a terminal degree program that prepares students for performing advanced research and studying within the specialized area of financial markets. The Ph.D. (Financial Markets) course generally takes 3-5 years to complete enabling students to harness a strong academic background in their chosen field. The program offers a comprehensive course dealing with financial economics, financial investments, security, portfolio, derivatives, financial risk, and empirical finance. Scholars pursue further knowledge in financial markets through high level course work and research exercises.
The common entrance exams accepted for admission to Ph.D. (Financial Markets) program are: JAM (Joint Admission Test for M.Phil./Ph.D.) conducted by CBSE, NET-LS (NET for Lectureship) conducted by UGC.IITs & IISc, GRE & GMAT exams that include General test for graduate management admission test. Most institutes themselves hold entrance tests and interviews for selecting candidates for research aptitude before they admit the students to their Ph.D. programs. Master’s degree, together with published materials or work experience, is also beneficial to the Ph.D. application. To be considered for the Ph.D. Financial Markets program, candidates need to demonstrate a sound level of quantitative skills, analytical and research acumen.
| Course | Duration | Level | Eligibility | Top Colleges | Entrance Exam |
|---|---|---|---|---|---|
| Ph.D. (Financial Markets) | 3-5 years (Full-time), Varies (Part-time) | Doctoral | Master's degree in Finance or related field | Top universities worldwide, Business schools with finance specialization | University-specific entrance exams (GRE, GMAT etc.) |
1. The candidates should have completed a master’s degree in either finance economics commerce business administration or any other related field with a minimum of 55% marks.
2. Earn valid scores of UGC NET, GATE and other equivalent tests for entrance.
3. Good knowledge on stock markets, securities, probability theory, and statistical methods, econometrics.
4. Scholarly output that includes articles in scholarly journals, conference proceedings, and other presentations.
5. Specific interviews and give indication of desire to complete research at doctorate level.
6. Academic background throughout graduation as well as post-graduation is preferred along with relevant job experience if any.
| Subject | Important Topics |
|---|---|
| Financial Economics | Asset pricing, Capital market equilibrium, Portfolio theory, Market efficiency, Behavioral finance |
| Econometrics | Time series analysis, Panel data analysis, Financial forecasting, Empirical methods in finance |
| Derivatives Pricing | Option pricing (Black-Scholes), Futures and forwards, Interest rate derivatives, Credit derivatives |
| Financial Institutions and Markets | Commercial banking, Investment banking, Central banking, Regulatory environment |
| Corporate Finance | Capital budgeting, Dividend policy, Mergers and acquisitions, Valuation |
| Financial Risk Management | Value at Risk (VaR), Market risk, Credit risk, Operational risk |
| Behavioral Finance | Investor psychology, Prospect theory, Market anomalies, Herding behavior |
| Financial Econometrics | GARCH models, Event studies, Market microstructure analysis |
| Computational Finance | Monte Carlo simulations, Finite difference methods, Numerical optimization |
| Research Methodology | Research design, Hypothesis testing, Data collection and analysis, Scientific writing |
| Specialization | Job Title | Average Salary |
|---|---|---|
| Financial Econometrics | Quantitative Analyst | $120,000 - $150,000 |
| Corporate Finance | Investment Banker | $100,000 - $180,000 |
| Financial Risk Management | Risk Manager | $110,000 - $140,000 |
| Behavioral Finance | Behavioral Finance Researcher | $80,000 - $120,000 |
| Fintech | Fintech Consultant | $90,000 - $130,000 |