phd in finance frankfurt

• Studiengangsprofil
• Allgemeine Informationen
• Studieninhalt
• Professuren
• Bewerbung Mentorentätigkeit
• Info-Veranstaltungen
• Business Talk
• Fachschaft und studentische Initiativen
• Bachelor meets Business
• Graduierungsfeier
• Auswahlprozess
• Auslandsstudium
• Kontakt & Beratung
• Voraussetzungen
• Master in International Economics and Economic Policy
• Master in Money, Macro and Finance
• Empfehlungen
• Bisheriges Nebenfachstudium
• Aktuelles Nebenfachstudium
• Ph.D. Programme (current)
• Fristen & Anmeldungen
• Prüfungstermine
• Wiederholungsversuche
• Restplatzbörse
• Anerkennungen
• Ausgelaufene Prüfungsordnungen
• Studienfachberatung
• Prüfungsamt
• Studierendenservice
• Einrichtungen & Beratungsstellen
• Campus & Leben
• Studienfinanzierung
• Praktika & Stellen
• Berufs- und Karriereorientierung
• Individuelle Beratung
• Existenzgründung

Ph.D. Programme

Die Teilnahme an einem strukturierten Ph.D.-Programm bzw. einem Graduiertenkolleg ersetzt heute mehr und mehr das traditionelle Promotionsverfahren. Um die Grundlagen für eine erfolgreiche Dissertationsarbeit zu schaffen, sehen die Programme speziell konzipierte Lehrveranstaltungen und Seminare vor, fördern die inter- und transdisziplinäre Zusammenarbeit und den Dialog zwischen erfahrenen Wissenschaftlern und Doktoranden, und vermitteln Auslands- und Job Market-Kontakte.

In Kooperation mit der Johannes Gutenberg Universität Mainz und der Technischen Universität Darmstadt hat der Fachbereich 2008 die "Graduate School of Economics, Finance, and Management ( GSEFM )" gegründet.

Unter dem Dach der GSEFM werden die nachfolgenden Graduierten- bzw. Ph.D.-Programme angeboten.

Neben dem Studium und dem Abschluss eines unserer Ph.D.-Programme besteht am Fachbereich selbstverständlich weiterhin die Möglichkeit, eine Promotion auf traditionellem Weg zu absolvieren. Das Promotionsbüro hilft Ihnen bei allen administrativen und verwaltungstechnischen Fragen weiter, die bei der Durchführung von Promotionen und Habilitationen auftreten können.

KONTAKT Goethe-Universität Fachbereich Wirtschaftswissenschaften

Besucheradresse: Campus Westend Theodor-W.-Adorno-Platz 4 60323 Frankfurt am Main

Postadresse: 60629 Frankfurt am Main

Studentische Anfragen: [email protected]

Allgemeine Anfragen: [email protected]

© 2004-2024 Goethe-Universität Frankfurt

FACHBEREICH Auf einen Blick Werte & Ziele Dekanat Ehrungen Akkreditierungen

ABTEILUNGEN Finanzen Geld und Währung Management und Mikroökonomie Marketing Rechnungswesen Wirtschaftsinformatik und Informationswirtschaft Wirtschaftspädagogik Wirtschaftspolitik und Quantitative Methoden

STUDIUM Bachelor Master Prüfungsorganisation Service & Beratung

FORSCHUNG Forschungsprofil Einstieg & Perspektiven Forschungsförderung Institute & Cluster Professuren Publikationen

INTERNATIONAL Wirtschaftssprachen Austauschprogramme Partnerhochschulen

WEITERE INFORMATIONEN IT Service Center (ITSec) Kontakt und Anfahrt Impressum Datenschutz Barrierefreiheit

• Skip to navigation (Press Enter).
• Skip to main content (Press Enter).

Faculty of Social Sciences

• Degree Programmes
• Research Clusters
• Research Projects
• Cooperations

Doctoral Programmes

• Press | Media

Quick Links

• Welcome Center for Researchers
• International Students
• Job Opportunities
• Student Services

• Exam Prep >
• Prepare for Business School >
• Business School & Careers >
• Explore Programs >
• Connect with Schools >
• How to Apply >
• Help Center >
• About the Exam
• Register for the Exam
• Plan for Exam Day
• Prep for the Exam
• About the Executive Assessment
• Register for the Executive Assessment
• Plan for Assessment Day
• Prepare for the Assessment
• NMAT by GMAC
• Shop GMAT™ Official Prep
• About GMAT™ Official Prep
• Prep Strategies
• Personalized Prep Plan
• GMAT Mini Quiz
• Executive Assessment Exam Prep
• NMAT by GMAC Exam Prep

Prepare For Business School

• Business Fundamentals
• Skills Insight

Business School & Careers

• Why Business School
• Student Experience
• Business Internships
• B-School Go
• Quiz: Are You Leadership Material?
• MBA Return on Investment (ROI) Calculator
• Estimate Your Salary
• Success Stories
• Diversity and Inclusion
• Women in Business

Explore Programs

• Top Business School Programs
• Quiz: Which Post Graduate Program is Right for You?
• Quiz: Find the Best Program for Your Personality
• Business School Rankings
• Business Master's Programs
• MBA Programs
• Study Destinations
• Find Programs Near Me
• Find MBA Programs
• Find Master's Programs
• Find Executive Programs
• Find Online Programs

Connect with Schools

• About GradSelect
• Create a GradSelect Profile
• Prep Yourself for B-School
• Quiz: Can You Network Like An MBA?
• Events Calendar
• School Events
• GMAC Tours Events
• In-Person Events
• Online Events

How to Apply

• Apply to Programs
• The Value of Assessments
• Admissions Essays
• Letters of Recommendation
• Admissions Interviews
• Scholarships and Financing
• Quiz: What's Your Ideal Learning Style?

Help Center

• Register for the GMAT
• Create Account
• Program Finder
• PhD / Doctoral Programs
• Frankfurt School of Finance and Management gGmbH
• Doctoral Program in Finance & Management

• Skip to navigation (Press Enter).
• Skip to main content (Press Enter).

(Post-)Graduate Support at its Best!

• Registration
• Media Center

You want to do your PhD at Goethe University? We will support you!

Congratulations, you are looking forward to doing your PhD at Goethe University Frankfurt!

To ease your start with all the formalities and to answer your questions, we would like to explain to you in 3 easy steps how to proceed from here on.

Any questions remaining? Please do not hesitate to contact our colleagues from the Open Office Hours Team .

Doctorate at Goethe University

You have decided to do your PhD at Goethy Universiy Frankfurt. Which formal requirements do you have to fulfill and what are the regulations to get admitted as a doctoral candidate?

Finding a supervisor

Once you have decided to complete a doctorate at Goethe University and have gained insight into the subject area as well as your own research interests in that field, the most crucial step to take is finding a supervisor who is willing to guide and supervise you in your doctoral work.

Get started

Congratulations! You have completed the first steps to ensure that the start into your doctorate will be smooth. Now you can begin to work on your doctoral project.

The GRADE Starter Kit

Financial Support for PhDs | Open PhD & Postdoc Positions

Grade brochure "financing your doctorate".

Calls for financial support & prizes

Find an overview of financial support and prizes currently offered

Datebases for financial support

AkademischeStellen.com

Medicinoxy.com

Open positions for PhDs & Postdocs

Currently we have 2 open positions advertised at the UFZ Leipzig

Information for PhD Candidates at GU

• Doctoral Regulations
• Guidelines for Doctoral Supervision at GU

Information for PhD Candidates at the faculties

• Faculty 1 - Law
• Faculty 2 - Economics & Business
• Faculty 3 - Social Sciences
• Faculty 4 - Educational Sciences [German]
• Faculty 5 - Sport Sciences and Psychology [German]
• Faculty 6 - Protestant Theology
• Faculty 7 - Catholic Theology [German]
• Faculty 8 - Philosophy and History
• Faculty 9 - Languages, Cultures and Arts [German]
• Faculty 10 - Modern Languages
• Faculty 11 - Geo Sciences / Geography [German]
• Faculty 12 - Computer Science and Mathematics
• Faculty 13 - Physics
• Faculty 14 - Biochemistry, Chemistry and Pharmacy
• Faculty 15 - Biological Sciences
• Faculty 16 - Medicine [German]

GU Newsletter for Junior Researchers

• Assistant Professor / Lecturer
• PhD Candidate
• Senior Researcher / Group Leader
• Researcher / Analyst
• Research Assistant / Technician
• Administration
• Executive / Senior Industry Position
• Mid-Level Industry Position
• Junior Industry Position
• Graduate / Traineeship
• Remote/Hybrid Jobs
• Summer / Winter Schools
• Online Courses
• Professional Training
• Supplementary Courses
• All Courses
• PhD Programs
• Master's Programs
• MBA Programs
• Bachelor's Programs
• Online Programs
• All Programs
• Fellowships
• Postgraduate Scholarships
• Undergraduate Scholarships
• Prizes & Contests
• Financial Aid
• Research/Project Funding
• Other Funding
• All Scholarships
• Conferences
• Exhibitions / Fairs
• Online/Hybrid Conferences
• All Conferences
• Career Advice
• Study Advice
• Work Abroad
• Study Abroad
• Campus Reviews
• Recruiter Advice
• Teaching Advice Articles
• INOMICS Educator Resources
• INOMICS Academy
• INOMICS Study Guides
• Economics Terms A-Z
• University / College
• Graduate / Business School
• Research Institute
• Bank / Central Bank
• Private Company / Industry
• Consulting / Legal Firm
• Association / NGO
• All EconDirectory
• 📖 INOMICS Handbook

All Categories

All disciplines.

• Scholarships
• All Economics Terms A-Z
• EconDirectory
• All 📖 INOMICS Handbook

Ph.D. in Finance, fully funded

01 january 2024, phd programs, christian schlag.

Graduate School of Economics, Finance, and Management (GSEFM) at Goethe University Frankfurt in cooperation with the Leibniz Institute for Financial Research SAFE

The GSEFM graduate program offers a quantitative and research-oriented education featuring the structure of premier anglo-saxon graduate programs. Together with the Leibniz Institute for Financial Research SAFE, it provides an environment where students can benefit from a unique research group in Finance spanning a wide range of topics, such as banking regulation, systemic risk, asset pricing, corporate, household, behavioral, and macro finance, data science, and financial law. Students and faculty benefit from the location in Frankfurt, the primary center for financial markets and central banking in continental Europe. The program does not charge tuition fees.

The GSEFM Ph.D. Program in Finance consists of two years of doctoral coursework with a qualifying examination at the end of the first year. Core courses in financial economics, econometrics, and mathematical methods (first year) and two to three elective courses (second year) ensure that students acquire a thorough knowledge of the theory of Finance before beginning their own research.

SAFE  ­offers funding each year for the entire program to three excellent applicants for the Ph.D. Program in Finance as well as to those for the Program in Economics who pursue Finance as one field in their studies. The funding includes a grant of monthly €1,300 in the first year and an ensuing work contracts as research assistants, conditional on passing the preliminary exams.

SAFE aims to increase the proportion of female scholars among its research staff and will therefore give preference to female applicants in case of equal qualification.

Learn more about a Ph.D. in Finance at GSEFM in Frankfurt combined with funding from SAFE at  https://safe-frankfurt.de/about-safe/career/phd-in-finance.html

More Information

Visit Website

1131782 Frankfurt am Main , Germany

• #Management

Login to your account

Email Address

Forgot your password? Click here.

Doctoral Program in Law, Finance, and Economics

Fully funded.

SAFE offers funding to excellent applicants to its Doctoral Program in Law, Finance and Economics for three years with the option to extend for one additional year. Funding usually translates into a grant of 1,300€ per month in the first program year and a research assistant position in the following years. The research assistant position comes as a 50% employment contract in the second program year that is upgraded to 70% from the third year onwards. In the first year, mandatory course work will bring applicants from the field of law “up to speed” in the methods used in quantitative research in the field of studies.

SAFE offers its doctoral students the exciting and inspiring environment of an inter- and cross-disciplinary research institution dedicated to excellent research output and research-based policy advice. Methods of research in law at SAFE include law and economics, law and finance, behavioral law and economics. Topics of research at SAFE comprise, among others, capital market regulation, corporate governance, the regulation of household finance, competition, and judicial enforcement.

SAFE pursues a “pool concept” for its doctoral students: these are expected to choose a supervisor from among the SAFE professors. At the same time, they are encouraged to interact and write papers with any other SAFE researchers. This gives them the opportunity to get an impression of the research of potential supervisors before they decide for one and provides them with different perspectives and methodological approaches to law, economics, and finance while they complete their thesis.

Requirements and expectations

• Scholarship holders are expected to entirely focus on their course work during the first year ( see schedule )
• They shall pass the examinations of the economics courses they take. A research assistant contract after the first year is conditional on passing these exams.
• SAFE research assistants are expected to choose a supervisor from among the SAFE professors no later than by the first month of the second year. The choice does not exclude research projects with any other SAFE researchers.
• The candidate can choose to either write a book or a paper-based dissertation in English aiming at peer-reviewed international publication in renown law journals (actual publication is not a prerequisite for graduation, however, the doctoral committee has to certify sufficient quality for a decent chance of publication).

For more information on the program, visit this detailed article (in German only) on our program by Jurinsight .

Application

Applicants must have completed a law degree with honors (top 15%) at a research university. Please submit your application by handing in the following documents: CV, letter of motivation, certificates, transcripts. Reference letters are not mandatory but welcome. Please send the documents via mail or email (in one pdf file, please) to

Leibniz Institute for Financial Research SAFE Theodor-W.-Adorno-Platz 3 60629 Frankfurt am Main applications whatever @safe-frankfurt.de (please add “Application Doctoral Program Law” in the subject line of your email)

Deadline for applications for the program start on 1 October 2024 is 31 May 2024.

Contact for questions

Prof. Dr. Dr. Alexander Morell

Coordinator phd program law & finance.

Prof. Dr. Tobias Tröger

Director research cluster "law and finance".

• News Archive
• SAFE Finance Blog
• Event Archive
• Further events at the House of Finance
• SAFE in the media
• Research Magazine Points
• Distribution List
• All Publications
• Published Papers
• Working Papers
• Policy Publications
• Financial Intermediation
• Financial Markets
• Household Finance
• Macro Finance
• Law & Finance
• Researchers
• Research Projects
• Experiment Center
• Pension Finance Lab
• Who Can Visit?
• Application and Funding
• Research Fellows
• Research Affiliates
• Open Access
• Ombudsperson
• Data Sources
• Data Center Team
• Policy Center Team
• SAFE Senior Fellows
• Policy Advisory Council
• Finance Blog
• LawLab – Fintech & AI
• Management Board
• Scientific Board
• Board of Trustees
• Research Advisory Council
• Service Unit
• Equal Opportunities
• Good Scientific Practice
• SAFE as Host Institute
• PhD in Finance
• Doctoral Program in Law, Finance, and Economics | Leibniz Institute SAFE
• Moving to Frankfurt
• House of Finance
• How to find us

Goethe University Frankfurt

The Ph.D. Program in Finance at GSEFM is designed to ensure that students acquire a thorough knowledge of the theory of finance, of econometric and computational methods, as well as the structure of modern financial markets, before beginning their own research under faculty supervision.

In the first year of the program, students attend core courses in financial economics, econometrics, and mathematical methods. Furthermore, students attend courses in microeconomic or macroeconomic theory. At the end of the first year of studies, students must pass qualifying examinations in finance, econometrics, and microeconomics or macroeconomics. In the second year of the program students complete field courses in two to three fields of their choosing and begin to work on their own research. All students are required to have a faculty advisor by the end of their second year in the program. The role of the faculty advisor is to help the student to make the transition from coursework to research and to identify suitable dissertation topics. By the end of their third year in the program students will need to have completed their first research paper. The dissertation is completed in the fourth year of the program. The dissertation must be a major piece of research, and its chapters must have the potential for publication in an international scientific journal.

First-year students in the Master Program in Quantitative Finance at GSEFM enroll in the same set of courses as the first-year Ph.D.  Program in Finance students. If completing their first year of studies with strong success, the Master Program in Quantitative Finance students are then eligible and strongly encouraged to join the Ph.D. Program in Finance from their second year of studies onwards. Other students in the Master Program in Quantitative Finance in their second year of studies have the option to enroll in concentration courses with an emphasis on policy issues and/or on issues of implementation. The Master Program in Quantitative Finance is completed with a Master thesis written in the final months of the second year of studies.

Ph.D. Program Structure

Admission to all Master’s and Ph.D. programs at the GSEFM occurs as part of a competitive process on the basis of the review of the application dossiers by the faculty admissions committee. In evaluating the application dossiers, the admissions committee inter alia gives consideration to the following factors:

Fields of Previous Studies, Previous Degree, and Grade Point Average

An undergraduate specialization in economics or business administration is not required. As the first-year courses in the GSEFM programs assume familiarity for example with multivariable calculus, statistics through simple regression, and matrix algebra, adequate mathematical preparation is very important. The minimum previous degree prerequisite is a bachelor's degree (to be completed at the time of beginning of program studies), in a degree program with thorough coverage of quantitative methods. Candidates who have not completed a bachelor's degree in a degree program with thorough coverage of quantitative methods must have completed (at the time of beginning of their program studies) a master's degree in a degree program with thorough coverage of quantitative methods. While there is no minimum grade point average, given the quality of applications regularly received by the GSEFM, the admissions committee's standard should be expected to be well above a "B" grade point average.

Research Plan

Beyond previous education emphasizing quantitative methods, a strong interest in the substantive issues covered in the GSEFM program for which an application is submitted to as well as the ability to communicate clearly are essential for successful studies. The research plan to be submitted by candidates as part of the application dossier should describe the motivation for pursuing the chosen degree and outline the type of research projects a candidate would like to pursue at the GSEFM.

Two Letters of Evaluation

Two confidential letters of evaluation, at least one of them by an active university lecturer, that give evidence of the candidate’s aptitude for the chosen program are required. These letters shall be submitted either in sealed envelopes or by e-mail directly by the evaluator. Evaluations consist of the evaluation form and a free written statement by the evaluator.

All applicants are expected to take the quantitative section of the Graduate Record Examination (GRE). Applicants to the programs in Finance, Management, or Marketing can substitute the GRE quantitative score for the GMAT quantitative score. While both tests also contain verbal and analytical writing sections, the admissions committee does not require these to be taken. A quantitative score in the upper 20th percentile is viewed by the admissions committee as the minimum score providing evidence in favor of reasonably strong quantitative skills for the Ph.D. programs, while a quantitative score in the upper 25th percentile is deemed sufficient for the MSQ programs. Test scores that are older than four years on the deadline for the stage in which the complete application is submitted (January 31, March 31, or July 15, respectively) cannot be accepted. Given the quality of applications regularly received by the admissions committee though, individual admissions are likely to be conditioned on a significantly better test performance. See www.gre.org for further information on the GRE. The GRE Designated Institution Code for GSEFM is "7276". See www.mba.com/the-gmat.aspx for further information on the GMAT. The GMAT Designated Institution Code for GSEFM is "7276".

Language Competency

The exclusive language of all GSEFM programs is English. Sufficiently strong English language skills may be documented in one of the following forms: (i) A diploma/degree certificate from a secondary school with English as the official language of instruction (the secondary school must have been attended for at least two years); (ii) At least one year of successfully completed university-level studies in a degree program being exclusively taught in the English language; (iii) Test of English as a Foreign Language (TOEFL) or International English Language Testing System (IELTS) scores. The minimum scores are as follows: TOEFL/iBT: 93; TOEFL/PBT: 580; IELTS: 7.0. Test scores that are older than four years on the deadline for the stage in which the complete application is submitted (January 31, March 31, or July 15, respectively) cannot be accepted. Seewww.ets.org/toefl and www.ielts.org for further information on the TOEFL and the IELTS. The TOEFL Designated Institution Code for GSEFM is "7276".

At present, the GSEFM does not charge tuition for students enrolled in one of its degree programs on a full-time basis. There is a registration fee of approximately 350 Euros which is to be paid to the Goethe University’s central administration each semester. Payment of this fee also entitles students to use public transportation in the Frankfurt-Mainz-Darmstadt region and beyond for the entire semester.

Financial Aid

Financial aid is awarded in a competitive process among Ph.D. students and to the extent that the Ph.D. program to which an application is submitted to has the requisite funds.

As all funds for financial aid for first-year students may be awarded to applicants who submit their application by January 31, it is strongly recommended to apply by January 31 of the calendar year for which admission is sought. To the extent that financial aid is available, all Ph.D. program applications are automatically considered for financial aid. However, it will be useful for applicants to indicate on the application form whether they anticipate being able to join the GSEFM only if financial aid were to be granted.

First-year Ph.D. students who cannot be awarded a stipend but do seek financial support have the option to apply for student assistant positions with individual faculty members involved with the GSEFM. Hiring for these positions occurs on a decentralized basis through the individual faculty members at the GSEFM. For such applications to stand the best chance of success, students should have established themselves at the GSEFM, and be available for in-person interviews. To date, most of the students in the GSEFM Ph.D. programs interested in student assistant positions have been able to secure such a position by the end of the fall semester of their first year of studies in their Ph.D. program.

Partially through the generous support of public and private sector institutions, there are also some stipends for second- and higher-year students. Most of the financial support for second- and higher-year students comes in the form of teaching and research assistantships (some of the teaching assistantships may require ability to teach undergraduate students in German). Hiring for most of these positions occurs on a decentralized basis through individual faculty members involved with the GSEFM. To date, almost all students who excel during their first year of studies in their Ph.D. program have been able to secure a position as a teaching or research assistant by the end of the fall semester of their second year of studies in their Ph.D. program.

A good number of students have also been able to secure funding through internships at institutions such as the European Central Bank, the Deutsche Bundesbank, the International Monetary Fund, the World Bank, the United Nations, the Asian Development Bank, the Hong Kong Monetary Authority, and Allianz Group.

All students are encouraged to apply for external scholarships. Sources of such funding inter alia include "Deutscher Akademischer Auslandsdienst" and leading German foundations ("Studienstiftung des Deutschen Volkes", "Stiftung Geld und Währung", and foundations of the main German political parties/interest groups – "Begabtenförderungswerke").

GSEFM Degree Programs

GSEFM at this stage offers five Ph.D. programs: Ph.D. Program in Economics, Ph.D. Program in Finance, Ph.D. Program in Law and Economics, Ph.D. Program in Management, and Ph.D. Program in Marketing. Each Ph.D. program offers a two-year cycle of courses for students arriving with a Bachelor degree, with a fast-track option of only one year of course work for students arriving with a quantitative Master degree in the relevant discipline (such students must initially pass the Qualifying Examinations taken at the end of the first year by students enrolling in the full two-year cycle of courses). The Ph.D. program curricula pay special attention to helping doctoral students with a smooth transition from the course phase to the dissertation writing phase, and contain various structural elements in the dissertation writing phase also (including a third-year research paper course/requirement, transferable skills courses, and a job market course).

The five Ph.D. programs are complemented by five corresponding, research-oriented Master Programs in Quantitative Economics, Quantitative Finance, Quantitative Management, Quantitative Marketing, and Law and Quantitative Economics, collectively called MSQ Programs. First-year students in these programs participate in the same set of analytically rigorous and quantitatively oriented courses in economics, finance, law and economics, management, and/or marketing that are taken by the first-year Ph.D. Program students. Students who complete the first year of the MSQ Program with strong success have the option and are strongly encouraged to join the GSEFM Ph.D. Program in their area of concentration. Other students in their second year in the MSQ Program have the option to enroll in courses with an emphasis on policy issues and/or on issues of implementation.

Accounting and Finance

Newcastle University of Medicine Malaysia

University of Bristol

The Times Higher Education World University Rankings is the only global university performance table to judge research-intensive universities across all of their core missions: teaching, research, knowledge transfer and international outlook.

University of Dundee

Cardiff University

Durham University

Business administration — finance.

University of California

Business administration finance.

Texas A&M University

Business finance.

Massey University

Computational finance.

University of Essex

Decision risk and financial sciences.

University of Melbourne

Deadline information.

Ask admission

We use cookies to give you the best online experience. Their use improves our sites' functionality and enables our partners to advertise to you. By continuing to use our website or clicking on the I agree button you are agreeing to our use of cookies in accordance with our Cookie Policy. Details on how we use cookies can be found in our Cookie Policy

Don’t miss out!

Sign up or Log in now to save your favorites.

Get updates on your chosen subjects and programs

Wishlist your ideal programs

Save time sending enquiries to programs providers

• Internships
• Scholarships
• Collections
• Bachelor programs
• Masters programs
• PhD programs
• MBA programs
• PostDoc programs
• Norway programs
• US programs
• UK programs
• Canada programs
• Germany programs
• Italy programs
• Netherlands programs
• Australia programs
• New Zealand programs
• Applied Sciences
• Natural Sciences
• Social Sciences
• Clients and Partners
• Public relations

• Skip to navigation (Press Enter).
• Skip to main content (Press Enter).
• Schülerangebote
• Studienwahl
• Studienangebot
• Eltern und Lehrer
• Partnerschulen
• Portal für Studieninteressierte

Money, Macro and Finance (Master of Science)

Grundständige studiengänge.

• Alle Studiengänge

Master-Studiengänge

• Masterstudiengänge (deutsch)
• Master degree courses (english)
• Weiterbildungs-Studiengänge

Weitere Studienmöglichkeiten

• Aufbaustudiengänge
• Wissenschaftliche Weiterbildung
• Gasthörer*innen
• Angebote der Goethe Business School
• Graduiertenakademie
• Universität des 3. Lebensalters

Overview Conditions of admissio n Applications  

Conditions of admission

Application

Diese Seite weiterempfehlen

• Google Plus -->

Schnelleinstieg

• Neuigkeiten aus dem Bereich "Studium Lehre Internationales"
• Was finde ich wo? / Schlagwortverzeichnis
• Vorlesungsverzeichnis
• HRZ-Services für Studierende
• Satzungen und Ordnungen
• Internationales

Zum Portal für Studierende

• Studienbeginn
• Studierendensekretariat
• Beratung & Unterstützung
• Finanzierung
• Career Service

Anmerkungen zur Webseite? Sie haben einen Fehler gefunden oder möchten Lob loswerden? Bitte wenden Sie sich an: [email protected]

FAQ for Master: Application, Admission, Enrolment

(Please read!)   Still have questions? Find answers here:    - Questions concerning programmes and admission requirements: Student Advisory Service (Contact details found in programme descriptions ) 

- Questions about the application process: Master-Zulassung & International Admissions [email protected]

Please note: It is currently not possible to reply to Microsoft emails (@live, @hotmail, @outlook, etc). Please use a different email address.

Office hours: Monday 8.30 - 11.30 a.m.  Wednesday 12.30 - 3.30 p.m.   

Visitors address : Goethe-Universität SLI Master & International Admissions  PEG-building, 1st floor, room 1.G002 Theodor-W.-Adorno-Platz 6 60323 Frankfurt am Main

More advising services:

Global Affairs Study and Teaching Telephone Hotline Central Student Advisory Service

  Data Privacy

PDF Download

Your PDF is currently being created.

Your PDF is ready now.

Select your login

Choose your language, doctoral programme.

Granted to all successfull candidates

Economics Concentration

This concentration is one of the four concentrations offered in Frankfurt School's Doctoral Programme.

We conduct scientific research projects, aiming at publishing them in top journals in the fields of industrial organization, behavioural economics, and macroeconomics. Frequently, these projects are collaborative efforts, partnering with representatives from central banks, governmental bodies and industry, and actively involving our doctoral students.

The prerequisite for a successful participation in research projects is a thorough training in economics and quantitative methods. The economics concentration provides this training through core courses and electives taught by resident staff.

Furthermore, our curriculum is enriched by electives led by globally renowned guest professors, each an expert in their respective field. Alternatively, electives can also be covered by taking part in a summer school or a specialised mini-course at prestigious universities worldwide.

Sample Publications

Frankfurt School publishes in the top outlets for economic research. To get a sense for the kind of research we conduct, please click on the following sample publications:

Grounded strongly in economics and quantitative methods, our faculty encourages students to explore creative, new ideas in a rigorous way.

We prefer students to extend the boundaries of the field by incorporating insights from adjacent areas such as finance, management, and the behavioural sciences rather than making incremental technical improvements.

The economics concentration offers the following courses to help students achieve those objectives*:

Mathematics & Statistics

Calculus of Several Variables Functions of Several Variables Implicit Functions and Their Derivatives Quadratic Forms and Definite Matrices Unconstrained Optimization Constrained Optimization Concave and Quasiconcave Functions Economic Applications Eigenvalues and Eigenvectors Advanced Linear Algebra Advanced Analysis Basic Probability and Statistics

Econometrics I

The class provides key knowledge on how different econometric models work and most importantly sheds light on their limitations. The course also provides step by step application of new tools to different data sets in the computer lab. You will be asked to replicate, and in some cases improve, prior empirical studies.

Microeconomics

1. Demand Theory 2. Expected Utility Theory 3. General Equilibrium Theory 4. Non-Cooperative Game Theory a) Dominant strategies and applications b) Nash Equilibrium and applications c) Subgame Perfect Equilibrium and applications 5. Principal-Agent Theory 6. The Theory of Incomplete Contracts

Macroeconomics

The course delves into foundational techniques and concepts integral to representative-agent macroeconomics. It provides a comprehensive understanding of key frameworks, exploring topics like economic growth, business cycles—both with and without frictions—and examines the role of monetary and fiscal stabilization policies. Additionally, we'll address the empirical facet, highlighting the concept of causality within macroeconomics.

Students choose five electives in total that cover their research interests. Two out of these five electives are in the following set of courses: multivariate statistics, field experiments, computational statistics, machine learning (MADS), asset pricing theory, empirical asset pricing

Econometrics II

The class provides key knowledge on how different econometric models work and most importantly sheds light on their limitations. The course also provides step by step application of new tools to different data sets in the computer lab. You will be asked to replicate, and in some cases improve prior empirical studies.

Game Theory

The course aims to familiarise students with the basic concepts of game theory. Students learn different classes of games and a variety of solution concepts to predict strategic behaviour in these games. They will learn how to capture practically relevant situations in a game and the necessary tools to solve these games.

Causal Inference

Coming soon

Students choose five electives in total that cover their research interests. Two out of these five electives are in the following set of courses:  multivariate statistics, field experiments, computational statistics, machine learning (MADS), asset pricing theory, empirical asset pricing

Industrial Organization

Advanced Topics in Economics

This course discusses the research frontier of a variety of topics.

1) Advanced Topics in Industrial Organization

2) Advanced Topics in Macroeconomics,

3) Advanced Topics in Monetary Economics,

4) Advanced Topics in Organizational Economics,

5) Advanced Topics in Behavioral Economics

PhD Brownbag

Master Thesis / 2nd year paper

The second year paper is the first piece of the student’s very own presentable research work. It can also be used to obtain a Master’s degree in Business Research and Analytics.

Research (Dissertation and Defence)

Upon passing the Qualifying Exam at the end of the 2 nd year, students enter the research phase of the programme. Students dedicate themselves to their research projects, produce scholarly papers and present their research at international academic conferences. They also have the opportunity to interact with international scholars visiting Frankfurt School to present research in the seminar series.

Research at FS

As an applied macroeconomist,  Benjamin Born studies business cycles, focusing on monetary and fiscal policies and the role of uncertainty. In his research, he often employs both empirical methods, utilizing aggregate, micro-level, and survey data and dynamic stochastic general equilibrium (DSGE) models with representative or heterogeneous agents. Current research topics include the role of household heterogeneity in business cycles and stabilization policy and understanding firm expectations and behavior via surveys.

Heiko Karle is a microeconomist with focus on industrial organization (theory) and behavioral economics (theory and experiments) and examines the strategies of firms and platforms in digital markets and the resulting consequences for consumers. In current work, he studies how platforms optimally design recommender systems that facilitate customer migration among listed sellers. Another ongoing research of his explores the influence of price levels and ranges on the intensity of consumer search for lower product prices, drawing on the works of Thaler (1980) and Tversky and Kahneman (1981).

Ever wondered how misperceptions, political beliefs and extreme opinions spread through communication, social media, or social networks? One strand of Andreas Grunewald ’ research seeks to answer this question by conducting field and laboratory experiments. Further topics of his research agenda include the optimal design and evaluation of behavioral policy interventions such as default options, reminders, or simplifications in bureaucratic processes.   

Economics Faculty

Frankfurt School is among the few schools in Germany and even in Europe to offer fully-fledged coursework, which prepares students for the demands of dissertation research, on a par with what has traditionally only been available in top schools in the U.S. The programme has achieved remarkable successes:

Doctoral students have been invited for visiting scholarships in top schools in the U.S. (e.g., MIT) and in Australia (e.g. University of Melbourne).

Doctoral students have presented their dissertation work in highly visible and competitive conferences such as the Singapore Management University Accounting Symposium and the MIT-Asia conference.

Student funding and scholarships

Frankfurt School offers fully-funded study places for the doctoral programme in order to attract and support the brightest minds in academia.

Students are expected to devote 100% of their working time to their doctoral studies at Frankfurt School for up to five years.

Funding includes a tuition fee waiver and a cost-of-living stipend. The monthly stipend comprises of EUR 1,820.

The stipend will be granted for five years conditional on the continued satisfaction of all academic programme requirements.

From the first year onwards doctoral students will receive EUR 1,820 for the period of 5 years.

Furthermore Frankfurt School covers costs related to research, including conferences and overseas visits.

Application process

1. target group.

Outstanding graduates of a Bachelor‘s or Master’s programme in economics or related fields, such as mathematics, statistics, business administration, and finance, who aspire to launch an academic career.

Candidates in the final year of a Master’s or Bachelor’s programme are welcome to apply with their most recent academic transcript. Please note that the degree has to be completed by the time of the beginning of the programme.

2. Online Application

The first step of our application process is to complete the online application form. You will need to upload the following required documents. Please note that you need a certified English or German translation for all documents, that are not originally in German or English. The application platform will be open between 15 September 2023 and 15 January 2024.

Required Documents

• CV and list of publications (if existent)
• Certified copy of your University Entrance Qualification (Abitur, A-levels or equivalent)
• Certified copy of your University Degree Certificate or equivalent and academic transcript of records
• Official GMAT or GRE results
• Proof of English Language Proficiency Test (TOEFL IBT min. score of 100/IELTS min. score of 7.0)
• Statement of Purpose (up to 2 pages): Why are you interested in your chosen field of study? What are the potential areas of research you might pursue? Have you completed any research projects with faculty? Is the research of any member of the FS faculty of interest to you?
• Optional Statement: If you would like the committee to consider any of the following factors, you can describe their relevance in a separate statement within the application. This can contribute to the diversity of the entering class: background, extracurricular activities, work experience.

Two letters of recommendation: To request the letters from your recommenders, you have to register on a separate platform and send your request from there.

Please click on this link to access the platform: http://apply.interfolio.com/79802

Create a profile by clicking on the button “Apply now”.

If you require assistance, go to the “Home” tab and click the “Dossier Quick Start Guide”.

Once you send your request to your potential recommender, they will receive an e-mail together with a link where they can upload their recommendation letter confidentially. Please provide a deadline for your recommendation letter to ensure we receive it on time. Once the recommender has uploaded the letter, we will be notified and will be able to access it.

3. Interview

Successful applicants will be invited to a skype interview with faculty members.

The final decision regarding admission to our doctoral programme will be made by the Committee for Doctorate Proceedings. It is based on the overall portfolio of the candiate and the interview. The results will be communicated after the final decision.

Isabeau Köhncke Recruitment Officer

Lianna Mirzoyan Recruitment & Admissions Manager

• Degree Programs

Ph.D. and MSQ in Quantitative Accounting

The Ph.D. Program in Accounting provides students with a thorough knowledge of issues in both financial and managerial accounting, as well as econometric and other analytical methods before beginning their own research supervised by GSEFM  faculty  members.

The first year involves core courses in accounting, econometrics, microeconomics, and mathematical methods. At the end of the year, students must pass qualifying examinations in accounting, econometrics, and microeconomics. In the second year, students choose field/specialization courses in two or more areas and start their own research. During this process, they are supported by faculty members, who help them transitioning from coursework to research and identifying suitable dissertation topics. By the end of their third year, students must have completed their first substantive research paper. The dissertation may be completed in the fourth year of the program. The dissertation consists of several research papers that have the potential for publication in international scientific journals.

Students in the MSQ Program in Quantitative Accounting enroll in the same set of courses as students from the Ph.D. Program in Accounting. MSQ Program in Quantitative Accounting students who complete their first year of studies with strong success are eligible and strongly encouraged to also join the Ph.D. Program in Accounting from their second year of studies onwards. The MSQ Program in Quantitative Accounting is completed with a Master thesis written in the final months of the second year of studies.

Students completing both programs may earn both an MSQ and a Ph.D. degree in a total of four years.

Ph.D. Structure

Pre-Semester: Mathematics, Statistics, and Econometrics

First Semester: Advanced Accounting 1 (8 CP), Advanced Econometrics 1 (8 CP), Advanced Microeconomics 1 (8 CP), Mathematical Methods (8 CP)

Second Semester: Advanced Accounting 2 (8CP), Advanced Econometrics 2 (8 CP), Advanced Microeconomics 2 (8 CP), Programming Languages (4 CP)

Qualifying Examinations

First Semester: Field Courses and Seminar

Second Semester: Field Courses and Seminar

Fields Offered:

Accounting (including Analytical and Empirical Research in Performance Measurement, Management Control and Organizational Design, Incentive System Design, Research Design in Accounting, Financial Reporting, Corporate Governance, Auditing)

Econometrics (including Bayesian Econometrics, Dynamic Panel Models, Econometrics of Duration and Transition Data, Long Memory in Time-Series, Non-Parametric Econometrics)

Finance (including Asset Pricing, Corporate Finance Theory, Empirical Banking, Household Finance, Option Pricing, Taxes and Finance)

Marketing (including Bayesian Modelling for Marketing, Customer Management and Social Media, Pricing and Online-Advertising, Structural Models and Competition)

Microeconomics and Management (including Behavioral Auction Theory, Behavioral Economics, Decision Making under Risk and Ambiguity, Economics of Taxation, Empirical Labor Economics, Empirics of Contracts, Experimental Economics, General Equilibrium Theory: History, Incentives in Organizations, Intergenerational Economics, Modeling Group Behavior Using Game Theory, Taxes and Finance)

Historical and Normative Foundations of Economics (including History of Economic Thought, Normative Foundations) 

Workshop Attendance

Independent Studies Course (Teaching Skills)

Third-Year Research Paper

Job Market Course

Thesis Defense

During either the third or fourth year in the program, students may spend one or two semesters abroad for a research stay at an internationally top ranked Ph.D. program. Such stays are facilitated by the faculty advisor.

First-Year Courses

The following list sketches typical first-year course contents. The details of the offerings may differ from year to year, though, depending on the faculty member teaching the course in question. For more details on all the courses, please consult the course syllabi typically retrievable from individual faculty members’ websites.

Mathematics and Statistics: real analysis, multivariable calculus, linear algebra, linear difference equation systems, introduction to MATLAB, static optimization, statistics, introduction to STATA, linear regression with STATA.

Advanced Accounting 1: financial accounting, financial reporting, corporate governance, disclosure, earnings management, value relevance, fair value of information, capital markets.

Advanced Econometrics 1: fundamentals of estimation (OLS, SUR, 2SLS, 3SLS, GMM, QML), cross-section regression models with limited dependent variables, static panel data models.

Advanced Microeconomics 1: theory of the household, theory of the firm, decisions under uncertainty, market equilibrium, static and dynamic games under alternative information structures.

Mathematical Methods: real analysis, dynamic optimization, numerical methods.

Advanced Accounting 2: management accounting, decision-facilitating and decision-influencing role of accounting information, value of information, risk-incentive trade-off, incentives and job design, multitasking, performance measurement, management control systems.

Advanced Econometrics 2: single and multiple equation time-series models (ARMA, GARCH, ARDL, VAR, VEC, factor models), dynamic panel data models.

Advanced Microeconomics 2: contract theory (moral hazard, adverse selection, mechanism design, incomplete contracts), general equilibrium theory, welfare economics, externalities.

Programming Languages: major methods of programming (such as Python, R, and C) applied to research, specifically data analysis, in economics and business.

You are using an <strong>outdated</strong> browser. Please upgrade your browser to improve your experience.

• Prospective Students
• Continuing education
• Communications
• Degree programs
• Info-Center
• Facilities & Services
• International

Doctoral Studies Affairs

Phd studies at frankfurt university of applied sciences.

Until recently, Hessian universities of applied sciences (Hochschulen für Angewandte Wissenschaften / “Fachhochschulen”) were generally not allowed to award doctorates themselves; the law required a cooperation with a traditional university. Consequently, Frankfurt UAS PhD students were (and in many cases still are) subject to the partner university’s rules and regulations when undertaking their doctoral studies. However, after the Hessian Higher Education Act was revised several years ago, certain research-focused disciplines at universities of applied sciences can now apply for the permission to establish a PhD center with the right to award doctorates in the federal state of Hesse. The first such centers have been approved and established in the meantime. Frankfurt UAS currently participates in PhD centers covering the following subjects: Social Work , Applied Computer Science , and Mobility and Logistics .

Initiating PhD Studies at Frankfurt UAS

Researchers interested in pursuing a doctoral degree at or in collaboration with Frankfurt UAS and under the supervision of Frankfurt UAS professors, respectively, are required to contact potential supervisors directly, i.e., they have to identify professors whose research matches their interests (e.g., by checking our websites) and then ask them to collaborate on a doctoral project. In some cases, it may alternatively be possible to find a PhD project by searching our website for job ads regarding qualification positions.

Please note: It is not possible to enroll centrally in a PhD program at Frankfurt UAS, and one cannot start a PhD at one of our PhD centers or in cooperation with a partner university without securing a supervision agreement with one of our professors first. Please check whether the research topic you are interested in is actually represented at our university before asking Frankfurt UAS professors for support.

Financing a PhD

Many of Frankfurt UAS' PhD students finance their project by working as a research fellow/assistant, some also by applying for a PhD scholarship. Frankfurt UAS itself does not currently offer long-term scholarships for PhD students, but there are of course many other programs one can apply to elsewhere. Vacant research assistant positions can often be found on our website (see above). In general, it is advisable to discuss funding options with a (potential) supervisor early on.

Contact Person