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Ph.D. Program In Finance
Time Line and Course Work
General Timeline
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Year |
Academic Requirements |
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1 |
Course work |
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2 |
Course work, academic research paper,
comprehensive and minor field exam |
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3 |
Dissertation proposal |
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4 |
Dissertation research, dissertation final
defense |
Enrollment
The Texas Tech University Graduate School requires a minimum of 60
semester credit hours beyond the bachelor's degree, of which at least 30 credit
hours must be taken at Texas Tech University. In addition, the Rawls
College of Business requires students to be registered in at least 24
hours each academic year (Fall, Spring, Summer) up to the range of 85-90
doctoral hours. After 90 hours, enrollment can be reduced to 3 hours per
semester if the student is on-campus and 1 hour if off-campus (or the
minimum required by the Graduate School). Finally, students on
assistantship must enroll in at least 9 hours for both Fall and Spring
semester, and at least 3 hours for either Summer I or Summer II (depending
on the session of employment).
Students must complete their degree
requirements with 8 consecutive calendar years after the start of the
program, or 4 years after being admitted to candidacy (whichever comes
first).
Description of Course Work
There are four components to
the Ph.D. program in Finance at Texas Tech University: 1) leveling courses
and mathematical competency, 2) the doctoral core, 3) finance
specialization studies, and 4) two supporting areas of study (usually
statistics and economics).
Students are urged to take
statistics and economics as supporting fields unless they have a
compelling reason for studying in another area. These two areas prepare
students better for the rigor of the theoretical issues and research
methods confronted in finance at the academic level, and in successfully
completing a doctoral dissertation. Students must pass a supporting
field exam in one of the two supporting fields. The supporting field
exam is typically taken at the end of the second year.
Leveling Courses, Mathematical
Competency, ESL Testing for International Students
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Leveling Courses - The Rawls College of Business requires
students to take the following leveling courses. Students with a prior
degree in business can usually waive all (or most) of these classes.
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Leveling courses (semester offered) |
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ACCT 5401 |
Financial and Managerial
Accounting (Spring, Sum-2, Fall) |
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FIN 5421 |
Financial Management Concepts (Spring, Fall, Sum-1) |
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ISQS 5345 |
Statistical Concepts for Business and Management
(Spring, Fall, Sum-1) |
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MKT 5360 |
Marketing Concepts and
Strategies (Spring, Sum-1, Fall) |
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MGT 5371 |
Managing Organization Behavior
and Org. Design (Spring, Sum-1, Fall) |
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BLAW 5290 |
Legal, Reg., and Ethical
Environ. of Bus. (Spring, Sum-1, Sum-2, Fall) |
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ECO 5310 |
Price and Income Theory
(Spring, Fall, Sum-1) |
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Note: The timing of course offerings in the above list
(and the lists below) is based on recent
semesters and is subject to change |
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Mathematical Competency |
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Each student must demonstrate by
examination (or by prior or subsequent course work) competence in
linear algebra and calculus. These examinations are given twice a year
and seek to insure that the student has the necessary tools for
coursework and research. The competency examinations or necessary
course work must be completed in the first year of the program. |
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ITA Test for International Students |
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Newly arrived international students
should check with the International Affairs Office at the
International Cultural Center regarding the ITA (International
Teaching Assistant) assessment test. The test contains three parts:
testing your proficiency in speaking, listening, and writing English.
Tests are offered in mid-August. Check with the International Affairs
office for exact dates and times. A low score on the test may require
the student to enroll in ESL (English as a second language) courses
such as:
ESL 5301 (Advanced Writing for International Students)
ESL 5305 (Speaking and Listening)
ESL 5310 (English for Classroom Management)
ESL 5315 (Academic Writing)
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Doctoral Core
The second component in the
doctoral program is directed toward assuring that each student has the
ability to use quantitative and economic tools of analysis. To this end,
three courses (9 semester credit hours) are required of all Business Ph.D.
students. They are:
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Doctoral core, all required (semester offered) |
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ISQS 5347 |
Advanced Statistical Methods
(Fall) |
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ECO 5311 |
Macroeconomic Theory and
Policy (Spring) |
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ECO 5312 |
Microeconomic Analysis (Fall) |
Finance Specialization
The finance specialization consists of 21
units (7 semester courses) plus additional research credit hours
associated with the doctoral dissertation work. At the heart of the
finance specialization are the five doctoral courses dealing with the
major functional areas within the discipline (FIN 6331, 6332, 6333, 6335,
and 6336) and a research paper course taken during the summer between the
first and second year (BA 7000). One additional course is taken from an
approved set of masters level finance courses.
The doctoral seminars are taught once every
two years on a rotating sequence. The masters level finance courses are
usually taught once or twice a year. Thus, each student should be able to
complete the seven required courses in a two-year period.
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Doctoral seminars, all required (semester
offered) |
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FIN 6331 |
Seminar in Foundations of
Finance (every Summer-2 semester) |
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FIN 6332 |
Seminar In Corporate Finance
(Fall semester of odd years: 2007, 2009, etc.) |
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FIN 6333 |
Seminar in Investments (Spring
semester of even years: 2008, 2010, etc.) |
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FIN 6335 |
Seminar In Financial Markets
(Fall semester of even years: 2008, 2010, etc.) |
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FIN 6336 |
Seminar in Special Topics in
Fin., session one,
session two (Spring semester of odd years) |
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BA 7000 |
Research Practicum (every Summer
semester) |
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Approved masters-level finance courses, select one
(semester offered) |
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FIN 5325 |
Security Analysis and
Investments (Fall, Summer-1) |
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FIN 5326 |
Portfolio Theory and
Management (Spring, Summer-2) |
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FIN 5327 |
Student-Managed Investment
Fund (Spring, Fall, Summer-1) |
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FIN 5328 |
Options and Futures (Fall) |
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FIN 5329 |
Money and Capital Markets
(Fall) |
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FIN 5331 |
Seminar in the Management of
Financial Institutions (NA) |
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FIN 5333 |
The U.S. Financial System in a
Global Environment (Spring) |
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FIN 5338 |
Multinational Financial
Management (Spring) |
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FIN 5345 |
Real Estate Analysis (NA) |
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Research Seminar Series
The Finance department at Texas Tech
University has an active research seminar series offered on Friday
afternoons. During these seminars, faculty and Ph.D. students from Texas
Tech and other universities present their current research and receive
critical feedback. The seminar series is an excellent opportunity for
Ph.D. students to become acquainted with research problems, objectives,
and methods so they can understand and conduct current research in
finance. Ph.D. students receive credit for attending the seminar series by
registering for Research in Finance (FIN 6122). This one-hour course
should be taken each semester until the student has been admitted to
candidacy and is graded on a P/F basis.
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Supporting Field I (Statistics)
Students in the Finance Ph.D. program
typically take a four course sequence in quantitative methods. Courses
marked with an asterisk are usually required by the Finance department;
the other courses are selected by the student depending upon his/her
research interest.
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Approved statistics courses (select four) |
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ISQS 5348* |
Applied Distribution-Free
Statistics (Spring) |
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ISQS 5349* |
Regression Analysis (Spring) |
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ISQS 6347 |
Data and Text Mining (Spring) |
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ISQS 6348 |
Applied Multivariate
Analysis (Fall) |
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ISQS 6349 |
Advanced Business Forecasting
(NA) |
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Other classes in statistics
approved by the doctoral adviser |
Supporting Field II (Economics)
Students normally take four courses in
economics to complement the major area of interest in finance. The two
courses marked with an asterisk are strongly recommended as part of
those electives.
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Approved economics courses (select four) |
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ECO 5313* |
Mathematical Economics I
(Fall) |
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ECO 5314* |
Econometrics I (Spring) or
AAEC 5307 Econometric Methods (Fall) |
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ECO 5315 |
Mathematical Economics II
(Spring) |
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ECO 5316 |
Time Series Econometrics
(Spring) |
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ECO 5320 |
Managerial Economics (Fall) |
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ECO 5323 |
Monetary Theory I (Fall) |
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ECO 5324 |
Seminar in Public Finance
(Fall) |
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ECO 5325 |
Seminar in Economics Policy
(Fall) |
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ECO 5328 |
Monetary Theory II (Spring) |
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ECO 5329 |
Current Problems in Public
Finance (Spring) |
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ECO 5332 |
Advanced International Finance
(NA) |
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ECO 5346 |
Game Theory (NA) |
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ECO 5381 |
Empirical Studies in
Macroeconomics (Spring) |
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ECO 5382 |
Advanced Microeconomics (Fall) |
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Other classes in economics
approved by the doctoral adviser |
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