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- Dissertation Areas and Joint PhD Programs
- PhD Career Outcomes
- PhD Proposals and Defenses
- PhD Job Market Candidates
- PhD Research Community
- 100 Years of Pioneering Research
- Rising Scholars Conference
- Yiran Fan Memorial Conference
- Frequently Asked Questions
- PhD in Accounting
- PhD in Behavioral Science
PhD in Econometrics and Statistics
- PhD in Micro-Economics
- PhD in Finance
- PhD in Management Science and Operations Management
- PhD in Marketing
- Joint Program in Financial Economics
- Joint Program in Psychology and Business
- Joint PhD/JD Program
The Econometrics and Statistics Program provides foundational training in the science of learning from data towards solving business problems. Our students engage in extensive collaborative research on cutting-edge theory in Econometrics, Statistics and Machine Learning as well in applied research from a variety of fields within Booth (such as finance, marketing or economics).
Our program builds on a long tradition of research creativity and excellence at Booth.
Our PhD students become active members of the broad, interdisciplinary and intellectually stimulating Booth community. The program is ideal for students who wish to pursue an (academic) research career in data-rich disciplines, and who are motivated by applications (including but not limited to economics and business). As our PhD student, you will have a freedom to customize your program by combining courses at Booth (including business-specific areas such as marketing, finance or economics) with offerings at our partnering departments at the University of Chicago (Department of Statistics and Kenneth C. Griffin Department of Economics). You will acquire a solid foundation in both theory and practice (including learning theory, Bayesian statistics, causal inference or empirical asset pricing).
Our Distinguished Econometrics and Statistics Faculty
Chicago Booth’s Econometrics and Statistics faculty are committed to building strong collaborative relationships with doctoral students. We serve as research advisors and career mentors. Major areas of departmental research include: learning theory; causal inference; machine learning; Bayesian inference; decision theory; graphical models; high dimensional inference; and financial econometrics.
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Bryon Aragam
Assistant Professor of Econometrics and Statistics and Robert H. Topel Faculty Scholar
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Nabarun Deb
Assistant Professor of Econometrics and Statistics
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Christian B. Hansen
Wallace W. Booth Professor of Econometrics and Statistics
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Tetsuya Kaji
Associate Professor of Econometrics and Statistics and Richard Rosett Faculty Fellow
![chicago booth finance phd placement Mladen Kolar](https://www.chicagobooth.edu/ /-/media/project/chicago-booth/faculty-and-insights/faculty/mladen-kolar/chicago-booth-mladen-kolar.jpg?cx=0.41&cy=0.34&cw=194&ch=270&hash=D6A163F58B360C32CBF5A050789A8F90)
Mladen Kolar
Associate Professor of Econometrics and Statistics
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Tengyuan Liang
Professor of Econometrics and Statistics and William Ladany Faculty Fellow
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Nicholas Polson
Robert Law, Jr. Professor of Econometrics and Statistics
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Veronika Rockova
Professor of Econometrics and Statistics, and James S. Kemper Foundation Faculty Scholar
![chicago booth finance phd placement Jeffrey R. Russel](https://www.chicagobooth.edu/ /-/media/project/chicago-booth/faculty-and-insights/faculty/jeffrey-r-russel/chicago-booth-jeffrey-r-russell.jpg?cx=0.4&cy=0.32&cw=194&ch=270&hash=C37BD4ACD918CBF9FA04E51F23659AF3)
Jeffrey R. Russell
Alper Family Professor of Econometrics and Statistics
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Ekaterina (Katja) Smetanina
Assistant Professor of Econometrics and Statistics and Asness Junior Faculty Fellow
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Panagiotis Toulis (Panos)
Associate Professor of Econometrics and Statistics, and John E. Jeuck Faculty Fellow
![chicago booth finance phd placement Dacheng Xiu](https://www.chicagobooth.edu/ /-/media/project/chicago-booth/faculty-and-insights/faculty/dacheng-xiu/chicago-booth-dacheng-xiu.jpg?cx=0.44&cy=0.35&cw=194&ch=270&hash=F9FA7B01FEFE01B8418BAD535C87D5AE)
Dacheng Xiu
Professor of Econometrics and Statistics
A Network of Support
Booth’s Econometrics and Statistics group has been partnering with several (data science and interdisciplinary) research centers and institutes that facilitate the translation of research into practice. Through these venues, our PhD students can foster a strong research community and find additional resources including elective courses, funding for collaborative student work, and seminars with world-renowned scholars.
Data Science Institute at the University of Chicago The Data Science Institute executes the University of Chicago’s bold, innovative vision of Data Science as a new discipline by advancing interdisciplinary research, partnerships with industry, government, and social impact organizations. Center for Applied Artificial Intelligence The Center for Applied AI incubates transformative projects that fundamentally shape how humans use AI to interact with each other and the world. The Center’s innovative research uses machine learning and behavioral science to investigate how AI can best be used to support human decision-making and improve society. Toyota Technological Institute at Chicago Toyota Technological Institute at Chicago (TTIC) is a philanthropically endowed academic computer science institute, dedicated to basic research and graduate education in computer science. Its mission is to achieve international impact through world-class research and education in fundamental computer science and information technology. The Institute is distinctive to the American educational scene in its unique combination of graduate education and endowed research.
The Becker Friedman Institute for Economics With a mission of turning evidence-based research into real-world impact, the Becker Friedman Institute brings together the University of Chicago’s economic community. Ideas are translated into accessible formats and shared with world leaders tasked with solving pressing economic problems. Committee on Quantitative Methods in Social, Behavioral and Health Sciences This is an interdisciplinary community of faculty and students interested in methodological research in relation to applications in social, behavioral, and health sciences. The goals are to create an intellectual niche, exchange research ideas, facilitate research collaborations, share teaching resources, enhance the training of students, and generate a collective impact on the University of Chicago campus and beyond. The Institute for Data, Econometrics, Algorithms, and Learning The Institute for Data, Econometrics, Algorithms, and Learning (IDEAL) is a multi-discipline (computer science, statistics, economics, electrical engineering, and operations research) and multi-institution (Northwestern University, Toyota Technological Institute at Chicago, and University of Chicago) collaborative institute that focuses on key aspects of the theoretical foundations of data science. The institute will support the study of foundational problems related to machine learning, high-dimensional data analysis and optimization in both strategic and non-strategic environments.
The Fama-Miller Center for Research in Finance Tasked with pushing the boundaries of research in finance, the Fama-Miller Center provides institutional structure and support for researchers in the field. James M. Kilts Center for Marketing The Kilts Center facilitates faculty and student research, supports innovations in the marketing curriculum, funds scholarships for MBA and PhD students, and creates engaging programs aimed at enhancing the careers of students and alumni.
Scholarly Publications
Our PhD students' research has been published in top journals including Econometrica, Journal of Royal Statistical Society, Journal of Econometrics, Neural Information Processing Systems and Journal of Machine Learning Research. Below is a recent list of publications and working papers authored by our PhD students. Modeling Tail Index with Autoregressive Conditional Pareto Model Zhouyu Shen, Yu Chen and Ruxin Shi, Journal of Business and Economic Statistics, (40) 2022 Online Learning to Transport via the Minimal Selection Principle Wenxuan Guo, YoonHaeng Hur, Tengyuan Liang, Chris Ryan, Proceedings of 35th Conference on Learning Theory (COLT), (178) 2022 FuDGE: A Method to Estimate a Functional Differential Graph in a High-Dimensional Setting Boxin Zhao, Samuel Wang and Mladen Kolar, Journal of Machine Learning Research, (23) 2022 Approximate Bayesian Computation via Classification Yuexi Wang, Tetsuya Kaji and Veronika Rockova, Journal of Machine Learning Research (In press), 2022 Reversible Gromov-Monge Sampler for Simulation-Based Inference YoonHaeng Hur, Wenxuan Guo and Tengyuan Liang, Journal of the American Statistical Association (R&R). 2021. Data Augmentation for Bayesian Deep Learning Yuexi Wang, Nicholas Polson and Vadim Sokolov, Bayesian Analysis (In press), 2022 Pessimism Meets VCG: Learning Dynamic Mechanism Design via Offline Reinforcement Learning Boxiang Lyu, Zhaoran Wang, Mladen Kolar and Zhuoran Yang, In Proceedings of the 39th International Conference on Machine Learning (ICML), (162) 2022 Optimal Estimation of Gaussian DAG Models Ming Gao, Wai Ming Tai and Bryon Aragam, International Conference on Artificial Intelligence and Statistics (AISTATS), (151) 2022 Multivariate Change Point Detection for Heterogeneous Series Yuxuan Guo, Ming Gao, and Xiaoling Lu, Neurocomputing, (510) 2022 Disentangling Autocorrelated Intraday Returns Rui Da and Dacheng Xiu, Journal of Econometrics (R&R), 2021 When Moving-Average Models Meet High-Frequency Data: Uniform Inference on Volatility Rui Da and Dacheng Xiu, Econometrica, (89) 2021 Efficient Bayesian Network Structure Learning via Local Markov Boundary Search Ming Gao and Bryon Aragam, Advances in Neural Information Processing Systems (NeurIPS), (34) 2021 Structure Learning in Polynomial Time: Greedy Algorithms, Bregman Information, and Exponential Families Goutham Rajendran, Bohdan Kivva, Ming Gao and Bryon Aragam, Advances in Neural Information Processing Systems (NeurIPS), (34) 2021 Variable Selection with ABC Bayesian Forests Yi Liu, Yuexi Wang and Veronika Rockova, Journal of the Royal Statistical Association: Series B, (83) 2021 A Polynomial-time Algorithm for Learning Non-parametric Causal Graphs Ming Gao, Yi Ding, and Bryon Aragam, Advances in Neural Information Processing System (NeurIPS), (33) 2020 Uncertainty Quantification for Sparse Deep Learning Yuexi Wang and Veronika Rockova, International Conference on Artificial Intelligence and Statistics (AISTATS), (2018) 2020 Direct Estimation of Differential Functional Graphical Models Boxin Zhao, Samuel Wang and Mladen Kolar, Advances in neural information processing systems (NeurIPS), (32) 2019
The Effects of Economic Uncertainty on Financial Volatility: A Comprehensive Investigation Chen Tong, Zhuo Huang, Tianyi Wang, and Cong Zhang, Journal of Empirical Finance (R&R), 2022
Spotlight on Research
Econometrics and statistics research from our PhD students and faculty is often featured in the pages of Chicago Booth Review.
Is There a Ceiling for Gains in Machine-Learned Arbitrage?
In a recent paper by Chicago Booth’s Stefan Nagel and Dacheng Xiu and Booth PhD student Rui Da, findings suggest that there are limits to statistical arbitrage investment.
How (In)accurate Is Machine Learning?
Three Chicago Booth researchers quantify the likelihood of machine learning leading business executives astray.
Would You Trust a Machine to Pick a Vaccine?
"If we understand why a black-box method works, we can trust it more with our decisions, explains [Booth's] Ročková, one of the researchers trying to narrow the gap between what’s done in practice and what’s known in theory. "
Inside the Student Experience
Damian Kozbur, PhD ’14, says PhD students at Booth have the flexibility to work on risky problems that no one else has examined.
![chicago booth finance phd placement Damian Kozbur](https://www.chicagobooth.edu/-/media/programs/phd/carousel/phd_dissertation_damian.jpg?cx=0.42&cy=0.43&cw=764&ch=430&hash=86B25BEC3D102B756C5DD701CA8747AB)
Video Transcript
Damian Kozbur, ’14: 00:01 I went to graduate school in order to develop econometrics tools in conjunction with machine-learning tools in conjunction with economic theory in order to do inference for economic parameters. When you work in high dimensional estimation and you're dealing with problems where the number of variables you're looking at can potentially be in the millions, there's no way to visualize what's going on. Demands now really require that you can handle huge datasets. There's something really satisfying about studying a problem and studying it well. I would say Booth is an excellent place to do it. You have the flexibility to work on really risky problems where you're trying to navigate this landscape that nobody's ever really looked at before. You have an opportunity to dig deeper. You have an opportunity to be rigorous. The faculty is there to help you. They're trying to figure out the same kinds of problems. Things that you figure out cannot always be visualized and it cannot always be easily understood. That doesn't necessarily mean that it's not practical or not useful.
Damian Kozbur, ’14: 01:08 There's an incredible explosion in terms of the amount of data we have on everything. There is an incredible explosion in terms of our understanding of high dimensional econometrics. If you're doing innovative work right now, it will have an impact.
Current Econometrics and Statistics Students
PhD students in econometrics and statistics apply statistical methods to a wide range of business problems, from the effectiveness of machine-learning tools to video-game preferences. Our graduates go on to work in high-profile institutions, generally in academia, finance, or data science.
Current Students
Y ifei Chen Rui Da
Chaoxing Dai
Wenxuan Guo
Shuo-Chieh Huang
Shunzhuang Huang So Won (Sowon) Jeong
Boxiang (Shawn) Lyu Edoardo Marcelli
Zhouyu Shen
Shengjun (Percy) Zhai
Current Students in Sociology and Business
Jacy Anthis
Program Expectations and Requirements
The Stevens Program at Booth is a full-time program. Students generally complete the majority of coursework and examination requirements within the first two years of studies and begin work on their dissertation during the third year. For details, see General Examination Requirements by Area in the Stevens Program Guidebook below.
Download the 2023-2024 Guidebook!
Joint PhD Program in Financial Economics
Program requirements.
Students must satisfy the requirements for the PhD degree in both programs. This is viable because of the considerable overlap in what the two programs expect of their students.
In the first year students will take:
- Economics 30100, 30200 and 30300 – Price Theory (microeconomics)
- Economics 31000, 31100 and 31200 – Empirical Methods (econometrics)
- Economics 33000, 33100 and 33200 – Theory of Income (macroeconomics)
In their second year they will complete courses in two fields in accordance with requirements from the Economics Department. At the same time the students will satisfy the dissertation area requirements at Booth.
As an example, a student in their second year can satisfy the course requirements by taking:
- Business 34901/Economics 35050 – Asset Pricing I
- Business 34902/Economics 35060 – Asset Pricing II
- Business 34903/Economics 35070 – Corporate Finance I
- Business 34904/Economics 35080 – Corporate Finance II
- and two other finance electives as listed in the Guidebook
This is a required sequence at Booth. It will be recognized as a separate field (or fields) by the Economics department.
- Three other classes in economics and business to satisfy additional distributional requirements of the Economics Department and Booth. There is a wide range of appropriate course offerings both at Chicago Booth and the Economics Department.
In their remaining years, students will satisfy any additional distributional requirements from the Department of Economics and the second year paper required by both the Department of Economics and Booth. To facilitate guidance in choosing a dissertation topic and pursuing research, third year students will attend a student workshop or reading group in which they will present recent papers by others and/or their own projects in early stages of development. The workshop will be run by one or more of the faculty members involved in the joint degree program. Students will propose and defend a single dissertation to the satisfaction of both the Department of Economics and Booth. These requirements are subject to changes made by either the Department of Economics or Chicago Booth.
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Joint Finance PhD Program
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Graduates from the PhD program are placed in Academia, Government Agencies, Technology Industry, Finance and Banking.
Graduate Student Placement 2023
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Wharton prepares you to become an academic leader. our phd graduates have gone on to excel at leading academic institutions, research centers, and enterprises around the globe..
Working with Wharton’s faculty, you are trained in the practices of rigorous research. You learn how to frame questions from a multi-disciplinary perspective through exposure to the broadest range of business knowledge. This breadth and depth of thinking yields new ideas, and scholars who break new ground in their selected area of research.
You leave Wharton ready to contribute meaningfully to your field, typically having published with your faculty mentors prior to graduation. Most Wharton doctoral graduates take positions at leading academic institutions, and many alumni continue working with their Wharton mentors and colleagues, returning to Wharton for conferences and colloquia throughout their careers.
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Student Placements
Here’s a list of placements, by program and year of graduation, over the past 10 years:
Visit here for Accounting PhD placements.
Applied Economics
World bank Post doc at NYU Furman center. Treasury’s Office of Financial Research. UT Dallas National University of Singapore
Brattle Group University of Wisconsin Business, Post Doc at Treasury Brattle Group Cornerstone Research Rutgers Business School Cornerstone Research
OECD Federal Reserve Board NYU, Postdoc and Hong Kong University Princeton, Postdoc
University of North Carolina, Chapel Hill University of Texas, Austin Bank of Canada NBER, Postdoc
Stanford University Cornerstone The Vanguard Group
Michigan State Federal Reserve Bank of New York (Post-doc at Chicago Booth) London School of Economics
Cornell University Microsoft Research NERA Economic Consulting University of Colorado, Boulder
Econ One Harvard Business School National Taiwan University Nuna Health Toulouse School of Economics University of California, Merced
Baruch College Clemson University Northwestern University Putnam Investments Research Affiliates
Consumer Financial Protection Bureau Duke University Indiana University University of Delaware University of Wisconsin, Madison
Berkeley Research Group University of Michigan U.S. Treasury Department Sungkyunkwan University, SKK GSB
Note: The Applied Economics program was created in Fall 2008 and, therefore, has placed students beginning 2013.
Ethics & Legal Studies
Visit here for Ethics & Legal Studies PhD placements.
BlackRock Cornerstone Research Drexel University, LeBow College of Business Harvard Business School Rothschild & Co
BlackRock Boston Consulting Group Columbia Business School Kenan-Flagler Business School of the University of North Carolina McGill University MIT Sloan Universidad Carlos III de Madrid University of Hong Kong
Capital One Stockholm School of Economics
Arizona State University Hong Kong University of Science and Technology University of Florida University of Warwick, Warwick Business School
BI Norwegian Business School INSEAD London Business School (2 placements) Peking University University of Hong Kong (2 placements)
Carnegie Mellon University Cornell University Cornerstone Research Peking University Southern Methodist University University of Wisconsin, Madison
AQR Capital Management Carnegie Mellon University, Tepper School of Business Citadel Tulane University, Freeman School of Business University of Chicago, Booth School of Business University of Southern California, Marshall School of Business
Federal Reserve Bank of New York University of Michigan University of North Carolina, Chapel Hill
Boston College Cornell University Federal Reserve Board Michigan State University Ohio State University University of Houston
Google University of California, Los Angeles University of Delaware University of Minnesota University of Oxford
Google University of Delaware
Mingshi Investment Management Peking University Southern Methodist University
Carnegie Mellon University University of British Columbia University of North Carolina, Chapel Hill University of Rochester University of Wisconsin, Madison
Cornell University Getulio Vargas Foundation Southern Methodist University U.S. Securities and Exchange Commission University of Southern California
New York University University of Florida
Cornerstone Research KAIST (Korea Advanced Institute of Science and Technology) University of Iowa University of Minnesota, Twin Cities
Aalto University School of Economics University of California, San Diego
Federal Reserve Board
Health Care Management & Economics
Charles River Associates Baylor University Cornell University Medical Campus (Weill) University of Miami USAID Emory University Securities and Exchange Commission (SEC)
Harvard Business School New York University University of Pennsylvania, Perelman School of Medicine NYU Langone Medical Center Analysis Group
University of Virginia Northwestern University, Kellogg School of Management RAND Corporation University of Pittsburgh Analysis Group
Indiana University Bloomington John Hopkins Bloomberg School of Public Health University of Pennsylvania, Perelman School of Medicine US Department of Health and Human Services
Asian Development Bank RAND Corporation
RAND Corporation
Cornell Medical School RAND Corporation Thomas Jefferson University University of Pennsylvania, Perelman School of Medicine Urban Institute
RAND-UCLA (Joint Post-Doc) San Diego State University Temple University, Fox Business School
Columbia University Peking University Urban Institute US Army Medical Department Telehealth Office
Bill and Melinda Gates Foundation Brigham and Women’s Hospital University of Pennsylvania, Perelman School of Medicine
Massachusetts General Hospital
University of Missouri University of Porto, Faculty of Economics
Bocconi University Ohio State University University of Southern California, Marshall School of Business Rice University New York University, Stern School of Business Massachusetts Institute of Technology
George Washington University University of Texas, Austin
University of Illinois at Urbana-Champaign University of North Carolina, Chapel Hill Sungkyunkwan University
Cornell University Stanford University
University of Texas, Austin University of Wisconsin, Madison
IESE Business School, Barcelona Campus University of LUISS (Rome)
INSEAD Purdue University University of North Carolina, Chapel Hill University of Pittsburgh University of South Carolina University of Texas, Austin
George Washington University University of North Carolina, Chapel Hill University of Washington, Bothell
Georgia State University Moscow School of Management, SKLOKOVO Institute for Emerging Market Studies Nanyang Business School Rutgers University
George Washington University Harvard University INSEAD University of Maryland, Smith School of Business University of Minnesota, Carlson School Washington University, St. Louis
New York University University of Hartford
Instituto De Empresa University of Michigan
Brigham Young University Florida International University National University of Singapore New York Department of Economics University of Illinois-Urbana Champaign
Visit here for Marketing PhD placements.
Operations, Information and Decisions
Visit here for Operations, Information and Decisions PhD placements.
University of Florida Carnegie Mellon University Columbia University Rutgers University
Massachusetts Institute of Technology The Voleon Group
University of Chicago, Booth School of Business University of California, Berkeley Emory University Rutgers University Citadel Air Liquide
INSEAD Massachusetts Institute of Technology, Sloan School of Management University of Vienna DV01
CLVmetrics IBM Stanford University
Carnegie Mellon University Columbia University Queens College Rice University Walmart Labs
Columbia University New Jersey Institute of Technology Yahoo Labs
The Climate Corporation Credit Suisse Rutgers University University of North Carolina, Chapel Hill
Krossover Intelligence Stanford University
Northwestern University US Census Bureau
Harvard University Princeton University University of Pennsylvania
London School of Economics Massachusetts Institute of Technology
Colombia University, Earth Institute (Post-Doc)
Yale University
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PhD Program
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Wharton’s PhD program in Finance provides students with a solid foundation in the theoretical and empirical tools of modern finance, drawing heavily on the discipline of economics.
The department prepares students for careers in research and teaching at the world’s leading academic institutions, focusing on Asset Pricing and Portfolio Management, Corporate Finance, International Finance, Financial Institutions and Macroeconomics.
Wharton’s Finance faculty, widely recognized as the finest in the world, has been at the forefront of several areas of research. For example, members of the faculty have led modern innovations in theories of portfolio choice and savings behavior, which have significantly impacted the asset pricing techniques used by researchers, practitioners, and policymakers. Another example is the contribution by faculty members to the analysis of financial institutions and markets, which is fundamental to our understanding of the trade-offs between economic systems and their implications for financial fragility and crises.
Faculty research, both empirical and theoretical, includes such areas as:
- Structure of financial markets
- Formation and behavior of financial asset prices
- Banking and monetary systems
- Corporate control and capital structure
- Saving and capital formation
- International financial markets
Candidates with undergraduate training in economics, mathematics, engineering, statistics, and other quantitative disciplines have an ideal background for doctoral studies in this field.
Effective 2023, The Wharton Finance PhD Program is now STEM certified.
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Customized learning and possible career trajectories based on an individual's interests are key benefits of interdisciplinary study. Given that breadth and depth, MACSS graduates accept positions across a diversity of positions, organizations, and industries.
MACSS places more graduates in data and research, in both for-profit and not-for-profit sectors, than any other fields. In a survey of the Class of 2022 , 98% of those graduates accepted full or part-time employment or were accepted into doctoral programs within 9 months of graduation.
MACSS was launched in 2016, and we first began placing our graduates for the PhD in 2017.
Overall, 48 of 52 (92.3%) MACSS applicants have been accepted for the PhD with full funding. On average, our students received 3 PhD offers each. 9 students were accepted at the University of Chicago for PhD study.
- In Economics , 10 of 17 applicants were accepted for the PhD, at University of Texas (Austin), University of Illinois (Urbana-Champaign), University of Illinois (Chicago), HEC Paris, University of California (Los Angeles), University of Michigan, University of California (Santa Barbara), University of Pittsburgh, University of Washington (Seattle), University of Notre Dame, Boston College, University of Chicago, Harvard University, Northwestern University, University of Minnesota, University of Wisconsin (Madison), University of Michigan (Ann Arbor), University of Rochester, University of Pennsylvania, University of California (San Diego), Cornell University, Brown University, Johns Hopkins University, Penn State, CEMFI, Columbia University, Princeton University, Boston University, and University of Toronto.
- In Political Science , 4 of 4 applicants were accepted for the PhD, at Penn State, Princeton University, Stanford University, Yale University, University of California (San Diego), University of Pennsylvania, Emory University, University of Rochester, Washington University in St. Louis, Rice University, University of Toronto, and University of Iowa.
- In Psychology, 5 of 5 applicants were accepted for the PhD, at Duke University, University of Chicago, Vanderbilt University, Yale University, University of Illinois (Urbana-Champaign), University of Pittsburgh, Carnegie Mellon University, Johns Hopkins University, and University of Western Ontario.
- In Sociology , 8 of 12 applicants were accepted for the PhD, at University of Chicago, Northwestern University, Ohio State University, SUNY Albany, University of New Mexico, Rutgers University, Johns Hopkins University, University of Michigan (Ann Arbor), University of Washington (Seattle), University of Oregon, Cornell University, Duke University, Emory University.
- In Business , 17 of 20 applicants were accepted for the PhD, at New York University, University of Chicago, Northwestern University, University of California (Los Angeles), University of Michigan (Ann Arbor), MIT, University of Michigan, Cornell University, University of California (Berkeley), University of Minnesota, University of Illinois (Urbana-Champaign), University of Utah, University of Notre Dame, Arizona State University, University of Western Ontario, Washington University in St. Louis, Boston University, Stanford University, Harvard University, University College London, Imperial Business School, University of California (San Diego), INSEAD, Ecole Polytechnique Fédérale Lausanne, Columbia University, University of Texas (Austin), University of Washington (Seattle), and London Business School.
- In Other disciplines , 15 MACSS graduates were accepted for the PhD in Communication (University of Pennsylvania), Technology and Social Behavior (Northwestern University), Computer Science (University of Toronto, Ecole Polytechnique Fédérale Lausanne, University College London, Northwestern University, Boston University), Criminology (University of Pennsylvania, University of California (Irvine), University of Maryland, University of Illinois (Chicago)), Information Science (Cornell University, University of Washington (Seattle), Indiana University (Bloomington)), Network Science (Northeastern University), Education Policy (University of Wisconsin), Media Technology and Society (Northwestern University), Sustainable Development (Columbia University), and Public Policy (Cornell University).
This list is a comprehensive look at all the organizations that hired MACSS graduates for roles upon graduation from 2018-2021. It is organized by most common industries, and the “Other” categorization captures companies that do not fall into one of the other fields.
Students seeking employment are always encouraged to visit the SSD MA Career Resources Website , where you can find various Career Guides and Employers by Industry lists that compile top employers from a variety of fields.
Applied Research Becker Friedman Institute, Columbia University, Duke University, George Washington University, International Innovation Corps, Mansueto Institute for Urban Innovation, MIT, New York University Stern School of Business, Northwestern University, Princeton University, Sciences Po, Stanford Institute for Economic Policy Research, University of California- Los Angeles, University of Chicago, University of Chicago Booth School of Business, University of Chicago Harris School for Public Policy, Urban Labs, Yale University.
Data Science / Analytics Accenture, Amazon, Apple, BDA, Boston Consulting Group, Cockroach Labs, Comscore, Crowe, Decode_M, Holistic Index, Intelligent Automation Corp, IRI, Microsoft, Oracle, Stax, Walmart, Women in Machine Learning and Data Science
Finance / Banking AIG, CITIC Capital, Goldman Sachs, Huaxia Bank, Ovata Capital
Start ups / Tech AbbVie, Alibaba Group, ByteDance, China Telecom Corp., Chowbus, Epic Systems, Etsy, Facebook, LeaseLock, MultiMediaLLC, Pactiv Evergreen, PayPal, Pinecone Tech Solutions, Wayfair, Wish
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- Dissertation Areas and Joint PhD Programs
- PhD Career Outcomes
- PhD Proposals and Defenses
- PhD Job Market Candidates
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- 100 Years of Pioneering Research
- Rising Scholars Conference
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- Financial Aid
- How to Apply
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- Attend a PhD Admissions Event
PhD Financial Aid
All admitted phd students at chicago booth enjoy generous financial assistance consisting of a tuition grant, a stipend, student health insurance, a computer or computer subsidy, and access to research and travel funding..
You’ll also have guaranteed teaching assistantships in your third and fourth years.
Tuition Grants
All PhD students receive full tuition support for five to six years of full-time study, conditional on satisfactory progress in the program.
Stipend and Fees
All PhD students also receive stipend support for five to six years of full-time study, conditional on satisfactory academic progress. For students who entered the Stevens Doctoral Program in Fall 2023, the awarded stipend package was $48,000 per year (guaranteed through years 1-5). In addition, we cover student-only premiums for the university’s student health insurance plan, as well as the Graduate Student Services Fee.
Teaching and Research Assistantships
During your third and fourth years in the Stevens Program, you are guaranteed the opportunity to work as a teaching assistant. We don’t impose a TA requirement during the first and second years so that you can devote all of your energy to your studies.
You may also work as a research assistant at any time during the Stevens Program to gain additional research experience.
Other Resources
As a PhD student, you may request funding (up to $1,500 per academic year) for research and conference travel on an annual basis. You may also apply to the Stevens Program or to Booth’s research centers for additional funding for larger research projects. First year students are also provided with either a one-time $2,000 computer stipend (accounting students will receive a free high end research-quality computer workstation or laptop instead). The Stevens Program also conducts a call for proposals twice a year. PhD students may apply for additional funding in support of a specific project that can be put towards data, fieldwork, etc.
External Fellowship Support
We encourage you to explore external sources of funding such as government agencies and corporations. For example, current Booth PhD students have received external funding from the NSF Graduate Research Fellowship Program and from the UniCredit Foundation’s US PhD Scholarship .
Cost of Attendance
The chart below provides an estimate of the nine-month cost for a single student to attend the Stevens Program. Costs vary depending on individual circumstances.
Chicago Booth’s generous funding for students more than covers the cost of attendance—even when the cost of attendance is extended to 12 months.
2022–23 Estimated Cost of Attendance for Three Quarters (Nine Months)
If you still have questions after reviewing our doctorate in business FAQ , please contact us. We look forward to hearing from you!
Phone: 773.702.7298 Email Us
Global New Venture Challenge (GNVC)
2024 judges.
![chicago booth finance phd placement Greg Barnes](https://polsky.uchicago.edu/wp-content/uploads/2024/05/HPVP_headshot-Greg-300x365.jpg)
Greg Barnes
Partner, hyde park venture partners.
Greg is a Partner at Hyde Park Venture Partners and has been with the firm since 2014.
Prior to HPVP, Greg was the COO of Piece & Co., and previously led strategy, new venture development, and corporate venture investing at Redbox. Greg has led or co-led a number of HPVP investments including ShipBob, VNDLY (acquired by Workday), Hubdoc (acquired by Xero), Pear Deck (acquired by GoGuardian), Provi, Zengines, AugX, Blackcart, and Diffit, among others.
![chicago booth finance phd placement Waverly Deutsch](https://polsky.uchicago.edu/wp-content/uploads/2019/04/Waverly-Deutsch-300x365.jpg)
Waverly Deutsch
Advisor, wyseheart advisory.
Waverly Deutsch created WyseHeart Advisory to continue her work with entrepreneurs and venture capital firms which includes serving on the advisory boards of several startup companies, as an Operating Partner for OCA Ventures, and as a Senior Advisor for PACE Healthcare Capital. Prior to WyseHeart, Waverly spent 22 years as a professor at Chicago Booth where she most recently taught the Global New Venture Challenge and Building the New Venture for Booth’s Executive MBA program. From 2001 to 2021, she was a full-time coach for the New Venture Challenge, a top-ranked academic accelerator program that has launched over 600 successful companies. In 2005, she received the US Association for Small Business and Entrepreneurship’s Innovative Teaching Pedagogy award for the YourCo simulation that parallels the Building the New Venture class and allows students to develop and run a mock startup through the launch process. In 2015, Deutsch was honored with the Phoenix Faculty award for her contributions to the Booth student community beyond the classroom. Her quarterly articles appeared in the Chicago Booth Review magazine from 2016 thru 2021. Before joining Chicago Booth, Waverly was managing director of NetFuel Ventures, an internet incubator. Waverly spent seven years with Forrester Research in Cambridge Massachusetts, a leading technology market research firm. Waverly holds a BS in computer science from the University of Pittsburgh and a PhD in theater history from Tufts University
![chicago booth finance phd placement Venetia Kontogouris, MBA ’77](https://polsky.uchicago.edu/wp-content/uploads/2018/09/Venetta-P-300x365.jpg)
Venetia Kontogouris, MBA ’77
Managing director, venkon group llc.
Venetia Kontogouris is the managing director of Venkon Group LLC, a company that invests in real estate and early stage ventures, with an emphasis on technology and cloud-based services. Current investments include Zumigo, Ruby Seven Studios, Flow Inc., Be Health, Energy Savvy, and Simple Mills. Prior to her employment with Venkon Group, Kontogouris was the senior managing director for Trident Capital, where she oversaw venture capital investing. She was one of the original members and co-managing partner for Funds IV, V, and VI with over $1.5 billion of venture investments under management. During her time at Trident Capital, she was responsible for many successful investments and exits including, Odyssey Logistics, Outsource Partners International, Microland, Advantec, Infotrieve, Sphere, Viant, Daou Systems, Vality, PBN/Taleo, IPro, Invention Machine, and CrossMedia.
![chicago booth finance phd placement Sonia Nagar](https://polsky.uchicago.edu/wp-content/uploads/2020/08/Sonia-Nagar-1-300x365.jpg)
Sonia Nagar
General partner, pritzker group venture capital.
Sonia Nagar is a Venture Capitalist, angel investor, and board director. Sonia is currently a General Partner at Pritzker Group Venture Capital responsible for sourcing, diligence and oversight of the firm’s investments in marketplaces, consumer products and services, and emerging technology companies. Before joining PGVC Sonia was vice president of product and head of mobile apps for RetailMeNot, responsible for leading an app redesign that earned a People’s Voice Webby Award for Best Shopping App. Sonia joined RetailMeNot in 2014 following its acquisition of Pickie, the venture-backed mobile shopping start-up she co-founded in 2011. Prior to Pickie, Sonia was a senior associate for Booz & Company, and worked in product management, investment banking, and engineering roles with Amazon, Goldman Sachs and General Motors.
![chicago booth finance phd placement Koichiro Nakamura, MBA ’07](https://polsky.uchicago.edu/wp-content/uploads/2018/09/Koichiro-Nakamura-1-300x365.jpg)
Koichiro Nakamura, MBA ’07
Co-founder & managing director, sozo ventures.
Koichiro “Koh” Nakamura has led numerous investments including Coinbase, Palantir, and Square. He is also actively involved with Zoom, Fastly, Insightly, One Concern, Chainalysis, and Clearbanc among others. Koh, a Waseda University Law and Chicago Booth MBA graduate and two times finalist of NVC, was a member of Kauffman Fellows Class 12, and was given the Jeff Timmons Memorial Award in recognition of his outstanding contributions to that program.
He was an early pioneer in Japan’s IT scene as a member of the founding team of Yahoo Japan, and led the seed investment into Scigineer. He co-founded Sozo Ventures in 2012 to guide globally ambitious founders looking to maximize Japan and Asian expansion opportunities. Koh, who says, “Iconic companies go global, and global markets go through Japan,” points to Palantir as the portfolio company that took the long-term view, which has rewarded them with a $150M joint-venture in Japan, and over $550M in the pre-IPO round from Japanese partners.
Koh, having shepherded hundreds of companies through international expansion, has shared his expertise in Nikkei, MarketWatch, Forbes Japan, Venture Capital Journal, Newspicks and many other publications.
![chicago booth finance phd placement Kathleen Swan](https://polsky.uchicago.edu/wp-content/uploads/2019/03/Kathleen-Swan-300x365.jpg)
Kathleen Swan
Partner, locke lord.
Kathleen Swan is a partner in the Chicago office of Locke Lord LLP where her practice focuses on corporate finance, venture capital, private equity, and institutional private placements. Kathleen has represented clients within a number of diverse industries, including health care, retail, pharmaceuticals, manufacturing, and utilities operations. She has represented both venture capitalists and angels in connection with their respective purchases of common and preferred stock; institutional investors in connection with the purchase of both senior and subordinated secured and unsecured notes; and investment bankers in connection with the sale of several corporations.
Arnaud Bonzom
Keith Breslauer, MBA ’88
Hernando Bunuan, MBA ’07
Vladimir Cara, MBA ’07
Vanessa Chan, MBA ’05
Cornel Chiriac, MBA ’12
Sarah Clark, MBA ’23
Jeff Crusey
Connie Doval, MBA ’23
Steven Dudash, MBA ’22
Anh Duong Nguyen, MBA ’22
Katelyn Glass, MBA ’23
Tarun Gulrajani, MBA ’23
Laila Haller, MBA ’23
Yuxi He, MBA ’23
Troy Henikoff
Josh Heyse, MBA ’23
Kenny Ho, MBA ’93
Katryn Ingstad, MBA ’23
Michael Kiook Jeoung, MBA ’17
Myung Kim, MBA ’23
John LaMattina, MBA ’23
Jason Miao, MBA ’23
Zofia Mroz, MBA ’22
Ken Obara, MBA ’23
Peter Piotrowski, MBA ’23
Amy Podzius, MBA ’23
Ellen Quirk, MBA ’18
Tasleem Rhemu, MBA ’22
Jason Roberts, MBA ’22
Ralph Shayne, MBA ’95
Paul Singh Gill, MBA ’09
Lydia Siu, MBA ’23
George Wang, MBA ’23
Jessica Yan, MBA ’23
Stella Zhou, MBA ’18
Katherine Ziegelbauer, MBA ’18
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When you earn a PhD from Chicago Booth, you are trained to conduct original, innovative research at the highest level. ... 2024 Graduate Placement . Our most recent graduates have found jobs in academia, government, and industry across the globe. ... Assistant Professor of Finance, Graduate School of Business, Stanford University (2007) Nick ...
PhD students in econometrics and statistics apply statistical methods to a wide range of business problems, from the effectiveness of machine-learning tools to video-game preferences. Our graduates go on to work in high-profile institutions, generally in academia, finance, or data science. Current Students.
The Joint PhD Program in Financial Economics was established in 2006 and is run jointly by the Finance dissertation area at Chicago Booth and the Kenneth C. Griffin Department of Economics in the Division of the Social Sciences.. The aim of this program is to exploit the strengths of both sponsors in training PhD students interested in financial economics.
Students must satisfy the requirements for the PhD degree in both programs. This is viable because of the considerable overlap in what the two programs expect of their students. In the first year students will take: Economics 30100, 30200 and 30300 - Price Theory (microeconomics) Economics 31000, 31100 and 31200 - Empirical Methods ...
The Kenneth C. Griffin Department of Economics is fully committed to the placement of its doctoral students in professional academic, nonacademic, and research positions in the United States and abroad. In addition to the efforts of individual faculty members on behalf of their own students, the Department holds an initial informational session ...
Placement History. The department plays an active role in assisting graduate students with career placement. In a typical year, every MIT Economics PhD graduate finds a job. ... Placements: Chicago Booth: 4: Harvard Business School: 3: Harvard University: 2: MIT: 1: Northwestern Kellog: 1: Northwestern University: 2: NYU: 2:
Primary Research Focus: Public Finance. Secondary Research Focus: Political Economy, Energy and Environmental Economics. References: Leonardo Bursztyn (Chair), Mikhail Golosov, Wioletta Dziuda. Job Market Paper: "Sticks vs Carrots: Optimal Climate Policy with Government Turnovers". Email: [email protected]. Behmer Personal Website.
joint finance phd program. Financial Economics Joint Programs. Kenneth C. Griffin Department of Economics. The University of Chicago. 1126 E. 59th Street. Chicago, Illinois 60637. United States. (773) 834-1679.
The Programs PhD Placement Academic Placements. ... University of Chicago, Booth School of Business. Competition and Manipulation in Derivative Contract Markets. ... Theory and Applications of Collective Investment. Finance. Xu Lu, '23. University of Washington, Foster School of Business . Monetary Transmission and Portfolio Rebalancing: A ...
The Kenneth C. Griffin Department of Economics is proud to announce its first year (2023-24) of having a postdoctoral program! Selected postdoctoral scholars in the program for 2023-24 are Harshil Sahai (PhD '23) and Esperanza Johnson Urrutia (PhD '23). Postdoctoral scholars in the program for 2024-25 are Elena Istomina and Shanon Hsuan-Ming Hsu.
University of Chicago-Booth Justin Bloesch Macroeconomics, Labor Economics Cornell University (Columbia post-doc 2022-23) ... Placement; Angie Acquatella Public Finance Boston University-Questrom Post-doc Eric Andersen ... Corporate Finance Stanford Graduate Business School Kirill Borusyak
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Career Placement. Wharton prepares you to become an academic leader. Our PhD graduates have gone on to excel at leading academic institutions, research centers, and enterprises around the globe. Working with Wharton's faculty, you are trained in the practices of rigorous research. You learn how to frame questions from a multi-disciplinary ...
Program of Study. Wharton's PhD program in Finance provides students with a solid foundation in the theoretical and empirical tools of modern finance, drawing heavily on the discipline of economics. The department prepares students for careers in research and teaching at the world's leading academic institutions, focusing on Asset Pricing ...
PhD Outcomes. MACSS was launched in 2016, and we first began placing our graduates for the PhD in 2017. Overall, 48 of 52 (92.3%) MACSS applicants have been accepted for the PhD with full funding. On average, our students received 3 PhD offers each. 9 students were accepted at the University of Chicago for PhD study.
If you still have questions after reviewing our doctorate in business FAQ, please contact us. We look forward to hearing from you! Phone: 773.702.7298. Email Us. At Chicago Booth, PhD students receive a tuition grant, a stipend, student health insurance, a computer or computer subsidy, and access to research and travel funding.
Master of Arts in Computational Science (MACSS) Kenneth C. Griffin Department of Economics. The University of Chicago. 1126 E. 59th Street. Chicago, Illinois 60637. United States. (773) 834-1679.
Tuition and Fees 2024-25 Chicago Booth Enrolling in a program of study includes additional costs beyond the tuition listed here. For a full list of direct and indirect expenses associated with the cost of attendance, please visit the following Chicago Booth pages for the PhD , Part-Time MBA , Full-Time MBA , and Executive MBA programs.
In 2015, Deutsch was honored with the Phoenix Faculty award for her contributions to the Booth student community beyond the classroom. Her quarterly articles appeared in the Chicago Booth Review magazine from 2016 thru 2021. Before joining Chicago Booth, Waverly was managing director of NetFuel Ventures, an internet incubator.