DPhil in Finance at University of Oxford

Programme overview

A four-year full-time doctoral programme in Oxford in which students are both students and junior research colleagues, working with supervisors to define a research question and write a thesis. Typical research topics include asset pricing and corporate finance, the design and regulation of securities markets, corporate financial policy and the impact of financial markets on real economic activity.

Faculty: Saïd Business School | Duration: 4 years full-time | Intake: 5 October 2027 | Study mode: full-time | Location: Oxford, England, United Kingdom

What you will study

In the first year (Probationer Research Student) students take six core courses (MPhil Economics: Microeconomics (Advanced), Econometrics (Advanced), Financial Economics 1 and 2; Saïd Business School: Empirical Finance and the DPhil Finance Professional Development Course) plus two electives. Students then apply for transfer of status (a 5,000-7,000 word piece of work and viva), confirmation of status (two draft chapters or papers up to 25,000 words) and submit a thesis of up to 100,000 words, defended by viva voce.

Career pathways

Recent alumni placements include assistant professorships at Michigan Ross, Vanderbilt, Ivey, Warwick, Hong Kong and Vrije Universiteit Amsterdam, a Harvard Business School post-doctoral fellowship, and economist roles at the IMF and the Federal Reserve Bank of Cleveland.

Official programme page

Application information

Entry requirements

At least an upper second-class honours undergraduate degree or equivalent (GPA 3.5 or equivalent). A valid GMAT or GRE (General) score with no waivers (scores no older than five years at programme start). Three pieces of written work including a well-developed research proposal (maximum 2,000 words), three academic references and academic transcripts. English language if not from a majority English-speaking country (academic and professional waivers available): IELTS Academic 7.5 overall with 7.0 in each component; TOEFL iBT 110 with Listening 22, Reading 24, Writing 24, Speaking 25 (home edition not accepted); C1 Advanced or C2 Proficiency 191 overall and 185 per component; Oxford Test of English Advanced 165 overall and 155 per component; tests less than two years old at start. Application fee GBP 20. Application deadline 2 December 2026; interviews 25 January to 5 February 2027; decisions by 12 February 2027.

GBP 28,270 a year (2027/28). Course fee for home and overseas students; admitted doctoral students receive full funding over four years covering course fees and an annual living-expenses stipend. Source

Intake: 5 October 2027

Duration: 4 years full-time

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