northwestern university phd finance

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DEPARTMENT OF ECONOMICS

• Degree Requirements & Goals
• Financial Economics

Financial Economics Ph.D.

Kellogg Program Description

Finance Department Website

The Department of Economics and the Finance Department in the Kellogg School of Management have a joint Ph.D. degree in Financial Economics.

The following requirements are in addition to, or further elaborate upon,  general degree requirements  and the policies on  Satisfactory Progress, Probation and Exclusion  of The Graduate School, and additional requirements for Satisfactory Academic Progress of the Department of Economics and the Finance Department.

Coursework Requirements

Total Required Units:  18

Other Ph.D. Degree Requirements

Examinations: satisfactory grades in each of the three core areas (microeconomics, macroeconomics, and econometrics); oral examination for approval of dissertation prospectus

  Research/Projects:  two research papers presented in the student seminar (ECON 501) or equivalent. Out of these, one paper is the second-year summer paper detailed below

  Finance Comprehensive Exam : Students must pass a Finance Competence Requirement. This can be done by achieving a 3.6 GPA across the six finance doctoral courses (FINC 585-1,2,3 and FINC 586-1,2,3), or by passing a comprehensive Finance exam. The Exam takes place at the beginning of the summer quarter of the second year, typically in June.

  Second-year Research Paper and Advisors: Students need to complete a research project to be presented to the department in the first week of September at the end of the summer quarter of the second year. The research project must be supervised by an individual faculty advisor (who can be the same as, or distinct from, the Academic Advisor) selected by the end of the winter quarter. The second-year advisor need not be the same person as the eventual main dissertation advisor.

  Ph.D. Dissertation:  original, independent research

  Final Evaluations:  oral dissertation defense

  Supervised Teaching Experience:  All doctoral students are required to act as a teaching assistant for at least one quarter. As part of these duties, the student must lead a weekly discussion section. Teaching experience is an essential part of graduate training. Foreign students must demonstrate acceptable English proficiency as prescribed by The Graduate School. Evaluations are made and kept as part of the students' record.

 There are two points of entry into the joint graduate program in Financial Economics.

• The first is a direct application when applying to graduate school at Northwestern. Admission requires approved by both the Economics and the Finance admissions committees.
• The second is for students initially enrolled in the Economics Ph.D. program to apply for entry after achieving candidacy. (Students initially enrolled in the Finance Ph.D. program can do the same.) Economics students should initiate the process by contacting the Economics Director of Graduate Studies immediately after candidacy. Applications must be approved by both the Economics and the Finance admissions committees. If the application is approved, the student initiates a degree transfer request to The Graduate School.

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Applying to the PhD Program

What you need to know to apply

If you are intellectually curious and like to be challenged by new ideas and experiences, consider a Kellogg PhD. Our students shift from being consumers of knowledge to being producers of new knowledge. Through their publications and teaching, Kellogg graduates contribute to business practice and society.

Preparing to apply

Each year, Kellogg receives over 850 applications to its eight PhD programs. On average 25 students enroll each fall.

PhD study requires strong quantitative skills to develop theories and manage and analyze data. This program is especially well suited to those who have previously studied social sciences (such as economics, political science, psychology and sociology), mathematics, natural sciences or engineering.

To be eligible for admission, you must hold a U.S bachelor’s degree — or a comparable non-U.S. degree — from a regionally accredited institution. You may be considered for admission before you finish your undergraduate degree, but you must complete that degree before you enroll at Kellogg. A three-year bachelor’s degree is also accepted.

Application review

During the admissions process, we will evaluate your application file and how your research interests align with the research expertise of our faculty. Also included in our review is the strength of your recommendation letters, academic record, and performance on standardized tests. Your application will help us understand if you are ready to seize all the opportunities that come with joining Kellogg.

Our faculty will assess your:

• Application responses

Transcripts

• Test scores
• Letters of recommendation
• Writing sample (optional)

For international candidates, the committee also assesses:

• English language proficiency 

Master’s degree holders

A master’s degree is not required for enrollment in our PhD programs. For applicants with a master’s degree, note that the coursework taken in a master’s program will not shorten your time to degree. No transfer credit is provided with a master’s and students must satisfy their PhD coursework requirements in full while studying at Kellogg.

Opportunities for collaborative research across programs and schools at Northwestern University are always available; interdisciplinary research is our strength. However, Northwestern permits applicants to apply to one PhD program a year .

There is an exception through the dual application option with the Economics PhD Program, which is outlined below.

Academic experience

The Kellogg PhD Program offers eight distinct areas of focus, each with varying types of experience that are needed for success.

Economics-based PhD programs

• These include Accounting Information & Management, Finance, Financial Economics, Managerial Economics & Strategy, Operations Management, and Marketing (quantitative area)
• Evidence of solid training in math, econometrics and statistics within the application
• Recommended math courses include calculus, linear algebra, probability and mathematical statistics

Behavioral/Sociological-based PhD programs

• These programs include Marketing, Management & Organizations, and a joint program between Management & Organizations & Sociology
• Evidence of statistics for social scientists and quantitative thinking, as well as a strong understanding of central concepts of probability and statistics
• Background in social psychology and sociology

Dual application with Weinberg Economics

Applicants seeking to enroll in an economics-based doctoral program have the option to submit a second application for review to the Economics PhD Program. Kellogg PhD programs participating in this dual application option include, Accounting Information & Management, Finance, Managerial Economics & Strategy and Marketing (quantitative area).

More details about this option are available on The Graduate School website.

Financial aid

Kellogg offers a five-year financial aid package to all admitted doctoral students that includes a stipend, tuition scholarships, health insurance, moving allowance and a subsidy to purchase a computer.

Contact CollegeNET Technical support for help with its online application .

Get a sense for Kellogg faculty expertise, academic research and published work.

• Faculty directory
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• To apply for a Kellogg PhD, you will need an updated version of your resume or CV, transcripts from all academic institutions, test scores, an academic statement, a personal statement and three recommendation letters.

How to write your application

Your resume or cv.

Your resume or CV should summarize all of your qualifications, honors, educational accomplishments, and if applicable, current research papers.

Please list all schools where you were registered for courses at the college level, including community colleges, study abroad institutions and current registrations whether or not in a degree program.

Provide one transcript from each college/university you have attended that documents each course taken beyond high-school level, whether or not within a degree program. Certification of degrees received, including the date the degree was awarded, should be noted on the transcript and/or diploma. Please note:

• The Kellogg PhD application requires unofficial transcripts . There is no need to send official transcripts prior to enrollment. Official transcripts are needed only if you decide to enroll
• For applicants who studied at international institutions, transcripts must be accompanied with an official English translation, if applicable

Form for courses taken

The Courses Taken form lets anyone applying to our economics-based programs highlight advanced university courses that directly support their chosen field of study and proficiency in the subject matter. The form allows for up to six advanced courses in each specific area. If you cannot access our form, you may create and upload a form that contains the same information in applicable areas of study.

Download the following forms if you plan to apply to one of these programs. Forms are required with your application submission:

• Accounting Information & Management
• Financial Economics
• Operations Management

If you plan to apply to either of these programs, we highly recommend you fill out one of these forms:

• Managerial Economics & Strategy
• Marketing (quantitative)

Standardized tests

All applicants are required to submit either the GRE or the GMAT regardless of previous experience and/or advanced degrees. We take a holistic approach to the application-review process, meaning there is no minimum score required for eligibility. Test scores are reviewed within the context of the entire application.

GRE required for:

• Management & Organizations & Sociology

GRE or GMAT required for:

• Management & Organizations

The Finance program prefers the GRE, but will accept the GMAT.

The GRE At Home and the GMAT Online and GMAT Focus exams are accepted. GRE and GMAT scores are valid for five years from the date taken. The institution code for GMAT is: 6WZ-3J-54 (PhD Program, Kellogg). The institution code for GRE is: 1565 (Northwestern Graduate School).

Unofficial test score reports are used during the application review process; however, official GRE and GMAT test scores are required if admission is recommended.

English language proficiency tests

If your native language is not English, The Graduate School requires that you certify proficiency in the English language in one of the following ways:

If your native language is not English, Northwestern requires that you certify proficiency in the English language in one of the following ways:

• TOELF:  We accept 600 or higher on the paper-based exam, 250 or higher on the computer-based exam, or 100 or higher on the Internet-based exam. TOEFL scores through at-home testing service are accepted. The TOEFL institution code is: 1565 (The Graduate School)
• IELTS:  Unofficial score report, submitted at the time of application, for the International English Language Testing System (IELTS) . The IELTS Academic test must be taken no more than two years before the intended quarter of entry (fall quarter). IELTS test takers should score 7.0 or higher. IELTS scores submitted through its at-home testing service are accepted
• MET:  We accept Michigan English Test scores of 70 or higher
• Earning an undergraduate or graduate degree from an accredited institution where the language of instruction is English. Please note, Kellogg provides the waiver after an application is submitted and transcripts have been reviewed. No additional documentation is required. Applicants will see the waiver noted within their online account
• Automatically Waived:  Applicants that are citizens from the following countries where English is the native language will have the requirement automatically waived upon submission of the application (Australia, Barbados, Bermuda, Great Britain, Gibraltar, Israel, Jamaica, New Zealand, Puerto Rico, Virgin Islands)

Standardized exams must be taken no more than two years before the intended quarter of entry. Unofficial scores are used during the review process. Official test scores are required only if admission is recommended.

DuoLingo or TOEFL Essentials are not accepted. Kellogg does not require the Test of Spoken English (TSE).

This is your opportunity to share the depth and breath of your academic education. In addition to the tactical and practical elements, think about how each experience helped you grow into the candidate you are today.

Academic statement 

You have a max limit of 1,000 words to answer the following questions:

• What are your academic interests, and why do you wish to pursue graduate studies in this specific program?
• How has your academic and professional background prepared you for graduate study? (Include any research, training, or educational experiences that align with the program you are applying to)
• How will our program help you achieve your intellectual and professional goals?
• What scholarly questions do you wish to explore in the program? (Make sure to include any specific faculty members whose research interests align with your own)

Personal statement 

Write a statement that addresses the following prompt (500 words max):

The Graduate School values diverse backgrounds, approaches, and perspectives, understanding them as essential ingredients for true academic excellence. As a Northwestern graduate student, how would you contribute to an intellectual community that prioritizes equity, inclusion, belonging and cultural humility?

Your answer may draw upon past or present experiences, whether in academic work, extracurricular or community activities, or everyday life.

While a paper is not required for admission to Kellogg’s PhD programs, the Sociology Department does require one, where the applicant is the sole-author, for consideration to the joint program in Management & Organizations and Sociology.

We do not require a writing sample to be submitted with the application; however, you may include one writing sample (30-page maximum) with your application. Hyperlink this paper and any other papers you have on your resume. *Please note: Only one writing sample will be reviewed. Do not upload more than one paper.

We require three letters. Additionally, we ask all recommenders to include Northwestern University’s Graduate Applicant Assessment Form found within the application. Recommendation letters from professors or instructors could include:

• A description of the nature of your relationship. Did you take one or more classes with the professor?
• A description of a research project or honors thesis, discussing the quality of the work, technical and writing skills, research methods used, data analysis, originality, depth of research undertaken, questions/problems raised, contribution to the field, etc.
• The letter should also provide a ranking — how you compared to other students

Recommendation letters from employers and business associates could include:

• Insights into your aptitude, character and working style — ability to work on your own, self-starter, complete a project on time, etc.
• Any research or data analysis you have done within the scope of your work

All letters must be submitted online through our web-based application, CollegeNET . Directions for uploading letters and accessing the Graduate Applicant Assessment Form will be sent to recommenders once the applicant has entered the contact information within the application. We are not able to accept recommendation letters by email.

A $95 non-refundable fee must be paid by credit or debit card within the online application. For those participating in the dual application option with the Economics PhD Program, the application fee is $175. The Graduate School (TGS) at Northwestern University administers the fee waiver program. If you wish to be considered for a fee waiver, please refer to The Graduate School’s website on Application Fees .

After you submit

You’ve invested time, energy and resources into completing your application, so no doubt you’ll want confirmation that your application was received. And we want you to have that peace of mind, too.

So, once you submit your application, you can log back into CollegeNet at any time to view the status and double check that all sections were successfully completed.

We welcome anyone who is interested in reapplying to the doctoral program. Additional time can frequently further cement your research goals and application strength. However, we are unable to provide specific application feedback if you applied in the past.

All candidates can reapply in future years, but you must submit a new application, supporting documents and application fee.

Application dates and deadlines

Application questions? We’re here to help

• For Students
• Navigating Academic Decisions

FAQ’s on Part-Time Enrollment

For various reasons, undergraduates may need to enroll part-time at the University. Part-time status means that a student is enrolled in fewer than 3.00 units of credits during a given quarter. A student can enroll part-time at registration or drop below full-time enrollment during the quarter.

Part-time enrollment can lead to a range of implications for tuition rate, financial aid eligibility, legal status for international students, athletic eligibility, and access to various University services, resources and buildings. These implications are covered in the Q&A below. Please pay special attention to how the timing of your decision could affect you.

What action should I take if I plan to, or have already dropped, below full-time enrollment (3.0 credits per quarter)?

Before making the decision to enroll as a part-time student or drop to part-time status, be sure to understand the implications.  The Office of the Registrar lists a number of Part-time Enrollment Considerations . After reviewing the considerations, complete the ‘Undergraduate Part-Time Enrollment Request’ in CAESAR (see Course Load Policies Part-Time Enrollment Considerations ). When you are filling out this request, make sure to check the add/tuition adjustment deadline because whether or not you submit this form, your tuition will be re-calculated after the add/tuition adjustment deadline based on the number of units in which you are enrolled in at that point. NOTE: The Undergraduate Part-Time Enrollment Request is not always available in CAESAR; the form becomes available at the beginning of regular registration for the upcoming term and remains available through the last day of the first week of that term.

Is there any impact on my tuition for dropping below full-time enrollment?

Full-time students (enrolled in 3.00-5.50 units) are billed at the full-time tuition rate. Part-time students (enrolled in fewer than 3.00 units) are charged tuition per unit. (Students enrolled in more than 5.50 units, referred to as an overload enrollment, are also charged tuition per unit). If a student drops from full-time to part-time by the tuition adjustment deadline, tuition is adjusted accordingly. If a student drops to part-time after the tuition adjustment deadline, tuition is not adjusted, and the student will not be eligible for any tuition refund.

In rare cases, students who miss the tuition adjustment deadline due to circumstances beyond their control may submit a petition for a late tuition adjustment .

Will dropping to less than full time enrollment impact my financial aid?

Part-time enrollment does not change a student’s calculated  family contribution . Need-based financial aid eligibility is determined by calculating the costs for the year and subtracting the amount of the family contribution. In general, students who are eligible for financial aid and enroll part time will have a reduction in aid that is similar to the reduction in costs.

For purposes of financial aid eligibility, students who enroll in 2.00 to 2.99 units are considered part-time and students who enroll in fewer than 2.00 units are considered less than part-time .

Students who are enrolled part-time (2.00-2.99 units in a quarter) retain their eligibility for Northwestern financial aid.

• If a student drops from full time to part-time by the tuition adjustment deadline, the tuition charge is adjusted, and the financial aid is adjusted to the per credit tuition rate.
• If a student drops to part-time after the tuition adjustment deadline, tuition remains at the full-time rate and the student’s financial aid is not adjusted. The student will not need to return any financial aid dollars they have received for the quarter.

Students who are enrolled less than part-time (fewer than 2.00 units in a quarter) are not eligible for Northwestern financial aid, though students with at least 1.5 units are eligible for federal loans. Students might also have reduced eligibility for a Federal Pell Grant if they are less than part-time.  

• If a student drops from full-time to less than part-time prior to the tuition adjustment deadline the tuition charge and financial aid will be adjusted.
• If a student drops to less than part-time after the tuition adjustment deadline, the tuition remains at the full-time rate and the student’s financial aid is not adjusted. The student will not need to return any financial aid dollars they have received for the quarter.

Frequent part-time or less than part-time enrollment status could impact  students' financial aid eligibility if students do not fulfill the requirement to make satisfactory academic progress or if students exhaust their four years of financial aid eligibility without completing their graduation requirements. See Satisfactory Academic Progress for additional information.

Further details on part-time enrollment and financial aid eligibility can be found at Undergraduate Financial Aid Enrollment Status and Financial Aid & Part-time Enrollment .

Are there academic implications for less than full-time enrollment?

Students considering part-time enrollment will want to keep in mind the Undergraduate Registration Requirement (URR) . For a quarter to count toward the URR, a student must be enrolled in 2.00 or more credits. ( Other criteria must also be fulfilled for a quarter to count toward the URR.)

Probation : School policies on removal from probation vary. However, in general, students are required to complete a full load (3.0+ credits in a quarter) of classes with a grade of C or better to be removed from probation. Thus, students on probation will want to carefully consider the implications of part-time enrollment and check with their advisers on the specifics of their school’s policy.

I am an international undergraduate. Are there any implications to less than full-time enrollment specific to being an international student?

International undergraduates must receive permission from the Office of International Students and Scholars (OISS) to be enrolled in less than 3.00 credits per quarter.

• Students on F-1 or J-1 visas must be enrolled full-time (3 units or equivalent) for their first term at Northwestern, which for international undergraduates will be the fall quarter.  
• After the first term, F-1 or J-1 students are eligible for a vacation period (usually summer) if the program allows; summer enrollment is optional for immigration purposes.
• For an F-1 or J-1 student’s final term, full-time enrollment is required unless the student needs less than a full-time course load to graduate, e.g., a student only needs one course to graduate. A student who needs less than a full-time course load in their final term must contact their OISS adviser to complete a Reduced Course Load request.
• See Exceptions to the Full-Time Enrollment Requirements FAQ .

I am a student athlete. Are there any implications to less than full-time enrollment specific to being a student athlete?

Student athletes must be enrolled full-time (3.0+) to participate in varsity athletics. The only exception is during the final term in which a student is carrying credit for the remaining requirements to graduate. Student athletes considering part-time or less than part-time enrollment should consult their athletic academic advisor before making such a decision.

I live in campus housing. Are there implications for my housing if I do not maintain full time enrollment?

Undergraduates living in on-campus housing are required to be enrolled full time (3+ credits) as noted in the Housing contract . Students who drop to part-time or less than part-time during the quarter will be allowed to remain in campus housing for the remainder of the quarter if this is the first time they are dropping from full-time to part-time status in the current academic year. No action is needed from the student.

When a student drops to part-time status for the second time in an academic year, is unregistered, discontinued, academically dismissed, or taking a medical leave, Residential Services contacts the student via email to communicate that the student is not eligible for housing and needs to vacate the residence hall/residential college within 48-72 hours. The housing contract outlines a 24-hour period to move out, but Residential Services typically offers additional time. Students are prompted to share circumstances that could warrant an exception and Residential Services follows up with the Dean of Students Office (most typically) to confirm. This does not happen often and is a case-by-case basis, and some examples could include:

• non-credit 1-quarter long internship
• financial hold that is in the process of being worked out
• serious health condition that requires care in the area but doesn’t allow for a full course load
• Special circumstances as an international undergraduate
• Student Assistance and Support Services identifies special circumstances

Does less than full-time enrollment impact my netid or my university email?

Am i able to use northwestern medicine student health services and counseling and psychological services (caps) if i drop below full-time enrollment.

Student Health: Part-time students remain eligible to use Student Health; graduating students who have been enrolled for at least one course at any time during the current academic year have continued access during the summer immediately following graduation.  See Who Can Use Northwestern Medicine Student Health Services .

Counseling and Psychological Services (CAPS) : See FAQs Who is eligible for services at CAPS . Students enrolled part-time (less than full time 3:00 credits/quarter) are eligible for a mental health consultation, crisis support, and assistance connecting to services outside of CAPS. Full-time students (non SPS) are eligible for these services and in addition, can receive ongoing therapy by a CAPS counselor.

Will I be able to use my Wildcard to get into SPAC, the library and other university buildings if I drop below full time enrollment?

Henry Crown Sports Pavilion, commonly known as SPAC (Sports Pavilion Aquatic Center):    Students currently enrolled in one or more credits in a degree-seeking program receive an automatic membership . Unenrolled students may establish community memberships .

Libraries: Part-time students with an active Wildcard have full access to the libraries. Unenrolled students can use the library as a visitor (present valid ID) with more limited access. See Entering Libraries .

Wildcard and lab/building access: Part-time status does not impact building access; an active Wildcard is necessary, but not sufficient for building access. Building access is determined on a building-by-building basis.  See Northwestern Facilities Building Access for more information.

Resources for:

Sep 27, 2024 7:30pm

The Power and Passion of Beethoven

Pick-Staiger Concert Hall

Oct 1, 2024 7:30pm

Nathan Mertens and Kenta Saito with Tomoko Kashiwagi

Galvin Recital Hall

Oct 4, 2024 7:30pm

Jeffrey Kahane, piano

• Lectures & Interviews
• Master Classes
• Recitals & Chamber Music
• Visiting Artists

Main Resources

Main utility, associate professor or professor of horn.

The Northwestern University Henry and Leigh Bienen School of Music invites applications for a tenured position as Associate Professor or Professor of Horn, to begin September 1, 2025.

The Bienen School of Music offers highly selective, conservatory-level training within a top-ranked research university and features a dedicated faculty, unparalleled facilities, and proximity to the vibrant music community of Chicago.

Required Qualifications

Candidates must possess an established national and international reputation as an artist/teacher, a proven record of successful teaching, the ability to attract and recruit outstanding undergraduate and graduate students, a commitment to collaborative collegial engagement, and a master’s degree or equivalent experience.

Preferred Qualifications

Ideal candidates will possess a proven record of successful teaching in a school or conservatory of music.

Responsibilities

Teach and recruit undergraduate and graduate students; maintain professional career as artist/teacher; serve on doctoral committees; and actively participate in the activities of a school of music in a research university. Additional teaching responsibilities may include coaching chamber music and teaching courses in the candidate’s area(s) of interest and abilities.

Associate Professor or Professor

The expected base pay based on rank is as follows:

• Associate Professor: $95,000 - $130,000
• Professor: $135,000 - $190,000

Northwestern University has provided a pay range representing its good faith estimate of what the university reasonably expects to pay for the position. The pay offered to the selected candidate will be determined based on factors including (but not limited to) the experience and qualifications of the selected candidate; years since terminal degree, training, and field or discipline; departmental budget availability; internal equity; and external market pay for comparable jobs.

Northwestern is proud to provide competitive, high-quality health care plans, retirement benefits, tuition discounts, and more. Visit https://www.northwestern.edu/hr/benefits/index.html to learn more.

Application

Screening begins October 21, 2024 and continues until the position is filled.

Candidates should submit:

• Letter of application
• Curriculum vitae
• A list of links to audio or video files of recent live performances
• Names and contact information of three references.

Apply Online

Questions should be directed to Professor David Bilger, Search Committee Chair, at: [email protected] .

Northwestern University is an Equal Opportunity, Affirmative Action Employer of all protected classes, including veterans and individuals with disabilities. Women, racial and ethnic minorities, individuals with disabilities and veterans are encouraged to apply. Hiring is contingent upon eligibility to work in the United States.

News Center

Northwestern receives $55 million to advance health research.

The Northwestern University Clinical and Translational Sciences (NUCATS) Institute has received $55 million in National Institutes of Health (NIH) funding to accelerate development, evaluation and implementation of improved healthcare interventions.

The seven-year award is the largest active research grant at Northwestern and extends a legacy of NIH funding that began when the institute launched in 2008.

“Clinical and translational research does not happen in a bubble, it requires dedicated investigators and members of the public to advance human health,” said Richard D’Aquila, MD , the Howard Taylor Ricketts, MD, Professor of Medicine in the Division of Infectious Diseases and senior associate dean for clinical and translational research. “With generous support from the NIH and Northwestern, we will continue to work alongside our exceptional coalition of community and health system partners to help build a better framework for innovating and implementing discoveries in ever more inclusive ways.”

Co-led by principal investigators D’Aquila; Sara Becker, PhD , the Alice Hamilton Professor of Psychiatry and Behavioral Sciences , and Clyde Yancy, MD, MSc , chief and Magerstadt Professor of Cardiology in the Department of Medicine, the Institute maintains its place as an anchor for Northwestern’s research enterprise.

“The collection of extraordinary faculty and staff who will manage this iteration of NUCATS are a testament to the transformational mindsets held by the institute’s leadership,” said  Eric G. Neilson, MD , vice president for Medical Affairs and Lewis Landsberg Dean. “This funding allows us to further advance our mission of improving human health by investigating the mechanisms that drive the translation of discoveries toward real-world treatments.”

Awarded by the NIH National Center for Advancing Translational Science, the grant will fund activities that cultivate a culture of inclusive excellence to better capitalize on the full range of existing talent while enabling effective translation of discoveries for diverse populations. The Institute is also positioned to infuse implementation science methods into work across the translational continuum to improve public health and meet the needs of all.

“Implementation science can help us to accelerate and catalyze the uptake of evidence-based practice into routine clinical care,” said Becker, also director of Northwestern’s Center for Dissemination and Implementation Science (CTSA). “Northwestern is a national leader in this space. The NUCATS Institute will become a model CTSA hub that advances inclusive, innovative and implementable solutions to the evolving challenges that impede scalable public health progress.”

Yancy’s research in cardiology and health disparities addresses optimal treatment of heart failure. A seminal contribution was revealing that the predominant cause of heart failure among Black people is hypertension rather than the ischemic heart disease that is most often the putative cause in non-Black patients. His groundbreaking work informed how to optimize treatment strategies for Black patients including the first ever FDA-approved therapy for Black patients.

“Diversity in the biomedical workforce is more than representativeness; it is rather about excellence, diverse ideas and unique strategies that will enrich our ability to provide care for the entire population,” said Yancy, who is also vice dean for Diversity and Inclusion. “By addressing inequities with intentionality, we are positioned to understand and then overcome persistent systemic limitations that hurt those underrepresented and underserved and in turn impair best health for everyone. We commit to responsibly and courageously leading the path to inclusive excellence and belongingness.”

As one of more than 60 NIH Clinical and Translational Science Award-funded hubs, the NUCATS Institute is now charged with adding to generalizable knowledge about how to best accelerate new ideas and interventions into impact that improves health for all. The NIH calls this new charge conducting clinical and translational science, distinguishing it from an earlier charge to provide resources for all clinical and translational research.

“A core principle of translational science is to understand common causes of inefficiency and failure in translational research projects. One of the additional areas we will focus on — in collaboration with Northwestern’s Innovation and New Ventures Office and other partners — is better helping academic innovators to move discoveries from the laboratory through clinical trials and toward commercialization,” D’Aquila said.

Northwestern University and its affiliates the Ann and Robert H. Lurie Children’s Hospital of Chicago and its Stanley Manne Children’s Research Institute , Shirley Ryan AbilityLab and Northwestern Medicine comprise the NUCATS Institute. Clinicians and investigators at each affiliate are Northwestern faculty members and the partnering entities share a jointly operated, markedly grown academic medical center campus where faculty and trainees’ education, care and research activities cultivate a learning health system. The affiliates also have broad regional networks of sites/providers, facilitating community outreach. The NUCATS Institute will continue to serve as the glue that collaboratively aligns translational research and advances translational science across the four hub components.

The new CTSA activities are funded by NCATS grant UM1TR005121.

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THE GRADUATE SCHOOL

Financial support to enable your graduate journey.

Use this portion of the website to learn more about our funding model and explore the sources of financial support available to you.

$45,000 minimum annual stipend rate for PhD students, 2024–25

$36,960 minimum annual stipend rate for PhD students, 2023–24

PhD and Master’s student funding

TGS and its graduate programs offer a wide array of financial support for doctoral students, who are typically fully-funded for four quarters per year for minimum of five years. Master’s students may receive scholarships or a student loan. MFA students can also apply for fellowships and assistantships.

Learn more about graduate funding.

Cost of attendance

For tuition and billing information, visit the Evanston Office of Graduate Financial Aid website .

Fellowships and grants

TGS offers funding from annually-allocated award funds, endowed fellowships, foundations and other private support, as well as federal research and training grants.

Featured fellowship

Students are nominated for the prestigious Presidential Fellowship by their graduate program. Presidential Fellows are students who promise to combine outstanding intellectual or creative ability with the capacity to play an important leadership role in their disciplines and beyond.

Learn more about fellowship and grant opportunities to fund your education and research pursuits.

Assistantships

In addition to helping to fund your education, assistantships can enhance it. Students serve between 15-20 hours per week.

Graduate & teaching assistantships

Research assistantships

Read more about assistantship requirements and Interdisciplinary Graduate Assistantships.

All students must file annual tax returns. Students with fellowships, scholarships and assistantships must follow additional rules for reporting income and withholding taxes,

See tax information and tips.

Financial assistance and help

Students can explore a variety of funding opportunities to address financial need.

Loans and emergency loans

Student loans are available to help finance the cost of education. For students in unexpected sort-term financial situations, an emergency loan may be possible.  More on loans and emergency loans.

Institutional resources

Employment opportunities at Northwestern and outside the University are available to graduate students. Student-Veterans may also be able to claim veterans’ benefits.  More on institutional resources.

• Department Resources
• Department Calendar

DEPARTMENT OF CHEMISTRY

Graduate course catalog, to plan your course load and academic experience, read the brief descriptions of each graduate course., course catalog, current and upcoming schedules, to view a list of upcoming classes, use the course schedule to find the classes and instructors slated for fall, winter, and spring quarters..

COURSE SCHEDULE

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Academic Catalog

2024-2025 Edition

Financial Economics PhD

Degree requirements.

The following requirements are in addition to, or further elaborate upon, those requirements outlined in  The Graduate School Policy Guide .

Total Units Required: 18

Other PhD Degree Requirements

• Examinations : satisfactory grades in each of the three core areas (microeconomics, macroeconomics, and econometrics); oral examination for approval of dissertation prospectus
• Finance Comprehensive Exam : Students must pass a Finance Competence Requirement. This can be done by achieving a 3.6 GPA across four finance doctoral courses ( FINC 585-1 Asset Pricing I ,  FINC 585-2 Asset Pricing II ,  FINC 585-3 Asset Pricing III ,  FINC 586-1 Corporate Finance I ,  FINC 586-2 Corporate Finance II , or FINC 586-3 Corporate Finance III ), or by passing a comprehensive Finance exam. The Exam takes place at the beginning of the summer quarter of the second year, typically in June.
• Research/Projects : two research papers presented in the student seminar ( ECON 501-0 Graduate Student Seminar ) or equivalent
• PhD Dissertation : original, independent research
• Final Evaluations : oral dissertation defense

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PDF of the 2023-2024 The Graduate Catalog.