Programme Structure and Courses
A PhD in Finance from LSE consists of six coursework units, completed over two years, followed by a thesis which is usually expected to take a further three or four years.
We encourage our research students to participate fully in the intellectual life of the Department, and in the research seminar and workshop programmes of the Department and related research centres such as the Financial Markets Group (FMG). The weekly Capital Markets Workshops provide exposure to the work of leading academics from the UK and overseas. In addition, the FMG hosts a number of conferences each year with leading researchers and practitioners.
Students will normally commence in late August, by attending an introductory course before the start of the academic year.
Introductory Course in Mathematics and Statistics
Provides students with the essential mathematical, statistical, economic and econometric background for the core Economics courses of these programmes.
First year
During their first year, students take courses in Advanced Microeconomics, Advanced Macroeconomics and Advanced Financial Econometrics to build their core knowledge in these areas. They will also take two transferable skills courses which are not examined.
There is also the option to attend non-examined research workshops or seminars in finance given by faculty and internationally renowned scholars. Students also attend a PhD seminar in Finance throughout their MRes/PhD studies.
Microeconomics for MRes Students
Introduces the basic analytical tools that are necessary to conduct research in any field in economics.
Macroeconomics for MRes Students
Covers topics in advanced macroeconomics with emphasis on fundamentals and applications to recent theoretical advances.
Econometrics for MRes students
Covers probability, mathematical statistics, and asymptotic theory, and theory and application of regression analysis. Provides a survey of the theory and application of time series methods in econometrics.
Financial Economics
This non-examined course provides an in-depth introduction to the theories of asset pricing and corporate finance.
Capital Markets Workshop
Second year
Students take courses in Corporate Finance and Asset Pricing, in addition to completing a research paper. They are also expected to attend research workshops or seminars in finance given by faculty and internationally renowned scholars.
Corporate Finance for Research Students
The first half of this course focuses on the theory of corporate finance. The second half of the course will consider empirical research in corporate finance.
Asset Pricing for Research Students
Covers asset pricing theory, empirical asset pricing, as well as empirical evaluation of asset-pricing models.
Research Paper in Finance
A research paper of between 6,000 and 8,000 words, related to your designated major field, to be submitted at the end of August of the second year.
PhD Seminar in Finance
A seminar course for PhD students in the early stages of their research to present their work in progress.
Capital Markets Workshop
PhD programme
After meeting the progression requirements, students progress to PhD registration and begin to work on their thesis
PhD Seminar in Finance
A seminar course for PhD students in the early stages of their research to present their work in progress.
For the most up-to-date list of optional courses please visit the relevant School Calendar page.
You must note, however, that while care has been taken to ensure that this information is up to date and correct, a change of circumstances since publication may cause the School to change, suspend or withdraw a course or programme of study, or change the fees that apply to it. The School will always notify the affected parties as early as practicably possible and propose any viable and relevant alternative options. Note that the School will neither be liable for information that after publication becomes inaccurate or irrelevant, nor for changing, suspending or withdrawing a course or programme of study due to events outside of its control, which includes but is not limited to a lack of demand for a course or programme of study, industrial action, fire, flood or other environmental or physical damage to premises.
You must also note that places are limited on some courses and/or subject to specific entry requirements. The School cannot therefore guarantee you a place. Please note that changes to programmes and courses can sometimes occur after you have accepted your offer of a place. These changes are normally made in light of developments in the discipline or path-breaking research, or on the basis of student feedback. Changes can take the form of altered course content, teaching formats or assessment modes. Any such changes are intended to enhance the student learning experience. You should visit the School’s Calendar, or contact the relevant academic department, for information on the availability and/or content of courses and programmes of study. Certain substantive changes will be listed on the updated graduate course and programme information page.