phd in finance columbia

Ph.D. in Economics

The Ph.D. program in the Department of Economics at Columbia University trains students to do cutting edge research in economics.  Students in our program do research in all major areas of economics including microeconomics, macroeconomics, econometrics, international economics, labor economics, public finance, industrial organization, development economics, and urban economics.  Our department provides strong training both in theoretical economics and in applied and empirical economics.  The Ph.D. program is primarily designed for students that are interested in pursuing a career in teaching and research within academia but is also useful for student interested in certain positions within governments, research organizations, or private businesses.

The first two years of our Ph.D. program is largely devoted to rigorous coursework. After the second year, however, students devote most of their time to their own research under the supervision of faculty advisors. Students in our program generally complete their Ph.D. in 5 or 6 years.

Admission to the Ph.D. program is highly selective.  We receive approximately 1,000 applications each year for an incoming class of roughly 25 students.  We place a high value on attracting the very best minds, and recruiting members of groups who will both enhance the diversity of research in the field and contribute to the diversity of the university’s academic and professional community.

The Ph.D. program has a long and illustrious history.  Alumni of the program include some of the most distinguished economists of the last century – including Nobel Prize winners Kenneth J. Arrow, Milton Friedman, Simon Smith Kuznets, and William S. Vickrey.

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Graeme S. Baker

Irina Bogacheva

Irina Bogacheva is Director of Research at Millburn Ridgefield and Adjunct Professor within the Department of Mathematics.

Previously, she held senior research positions with Goldman Sachs, Deutsche Asset Management, QS Investors, and Franklin Templeton. Irina’s professional experience includes research and implementation of systematic global macro strategies, strategic and dynamic asset allocation, and active factor equity strategies. She holds Diploma in Mathematics from Moscow State University, Master’s in Economics from New Economic School (Moscow), and an MBA in Analytic Finance from the University of Chicago Booth School of Business, where she also completed Ph.D. coursework in Finance.

Alberto Botter

Adjunct Professor, Department of Mathematics MS, Columbia University Quantitative Methods in Investment Management

Alberto Botter is a Managing Director within the Portfolio Management department at AQR Capital Management. In this role, he oversees the construction, optimization, and management of AQR’s Equities Long-Short and Tax-Managed portfolios. Prior to AQR, Mr. Botter was a quant in the Wealth Strategies Group at Morgan Stanley. Alberto earned a B.S. and an M.S. in economics from the University of Bologna and an M.A. in Mathematics of Finance from Columbia University.

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Luca Capriotti

Adjunct Professor, Department of Mathematics Ph.D., International School for Advanced Studies Credit Models, Computational Finance, and Machine Learning

Luca is the Global Head of Quantitative Strategies (QS) Credit at Credit Suisse, where he has worked since 2004. Previous to this role, he was the global head of QS for Credit and Structured Notes; he was the EMEA head and the US head of QS Global Credit Products; he worked in Commodities in New York and London, and he was part of the cross-asset modeling R&D group of QS in the London office.

Luca is also Visiting Professor at the Department of Mathematics at University College London, and an Adjunct Professor at Columbia University. His current research interests are in Credit Models, Computational Finance, and Machine Learning, with a focus on efficient numerical techniques for Derivatives Pricing and Risk Management, and applications of Adjoint Algorithmic Differentiation (AAD), which he has pioneered in Finance and Physics, and for which he holds a US Patent. Luca has published over 70 scientific papers, with the top 3 papers collecting to date over 1000 citations (h factor 27, i10 factor 49).

Prior to working in Finance, Luca was a researcher at the Kavli Institute for Theoretical Physics, Santa Barbara, California, working in High-Temperature Superconductivity and Quantum Monte Carlo methods for Condensed Matter systems. He has been awarded the Director’s fellowship at Los Alamos National Laboratory, and the Wigner Fellowship at Oak Ridge National Laboratory.

Luca holds an M.S. cum laude in Physics from the University of Florence, and an M.Phil. and a Ph.D. cum laude in Condensed Matter Theory, from the International School for Advanced Studies, Trieste.

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Alexei Chekhlov

Capital Markets and Investments, Math Methods in Financial Price Analysis

Alexei Chekhlov is an Adjunct Assistant Professor within the Department of Mathematics. He has previously taught graduate courses such as “Mathematical Methods in Financial Price Analysis” and “Capital Markets and Investments.” Additionally, Chekhlov serves as the Head of Research and Partner at Systematic Alpha Management, LLC, and he previously worked as a research associate at Princeton University, where he conducted research on the theory of fluid turbulence. He has published repeatedly on fluid mechanics, the kinetic theory of gases, turbulence, and within the fields of applied mathematics and quantitative finance. Chekhlov earned his Ph.D. in Applied and Computational Mathematics from Princeton University.

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Paul-Guillaume Fournié

MSc, Ecole Polytechnique, 2015 MSc, Corps des Mines, 2018

Interest Rates Models

Paul-Guillaume Fournié has been working as an Options Rates Quant at BNP Paribas’ New York office since 2019, heading the team locally since 2022. Covering both Vanilla and Exotic options, his most recent focus has been on the creation and adaptation of interest rates models to SOFR. He holds MSc in Mathematics and Physics from Ecole Polytechnique and MSc in Economics and Public Policy from Corps des Mines. Before switching to finance he occupied several positions in leading French industrial and telecommunications companies and served in France’s Ministry of the Economy.

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Tat Sang Fung

Adjunct Professor, Department of Mathematics PhD, Columbia University, 1996 Numerical Methods in Finance and Risk Model Methodologies

Tat Sang Fung is an Adjunct Professor at Columbia University, and he currently teaches “Numerical Methods in Finances,” a graduate course required for students in the Mathematics of Finance program. His areas of expertise include Quantitative Finance and Risk Management Methodology, and Mathematics. Additionally, Fung serves as the Global Head of Risk Model Methodology at Jefferies and has held other senior positions in the finance industry at Finch Lead Inc. and Finastra. Fung earned his Ph.D. in Mathematics from Columbia University.

[email protected] | 212-854-5880 | Website

Julien guyon

Adjunct Professor, Department of Mathematics PhD, École des ponts ParisTech, 2006 Nonlinear Option Pricing

Julien Guyon is a professor of Applied Mathematics at Ecole des Ponts ParisTech, one of the oldest and one of the most prestigious French Grandes Ecoles, where he holds the BNP Paribas Chair Futures of Quantitative Finance. Before joining Ecole des Ponts, Julien worked in the financial industry for 16 years, first in the Global Markets Quantitative Research team at Societe Generale in Paris (2006-2012), then as a senior quantitative analyst in the Quantitative Research group at Bloomberg L.P., New York (2012-2022). Julien was also an adjunct professor in the Department of Mathematics at Columbia University and at the Courant Institute of Mathematical Sciences, NYU, from 2015 to 2022; and previously at Universite Paris Diderot and Ecole des Ponts ParisTech. Julien serves as an Associate Editor of Finance & Stochastics, SIAM Journal on Financial Mathematics, Quantitative Finance, and Journal of Dynamics and Games. He is also a Louis Bachelier Fellow.

Julien co-authored the book Nonlinear Option Pricing (Chapman & Hall, 2014) with Pierre Henry-Labordere. He has published more than 20 articles in peer-reviewed journals (including Finance and Stochastics, SIAM Journal on Financial Mathematics, Quantitative Finance, Risk, Journal of Computational Finance, Annals of Applied Probability, Stochastic Processes and their Applications) and is a regular speaker at international conferences, both academic and professional. His main research interests include volatility and correlation modeling, option pricing, optimal transport, and numerical probabilistic methods.

A big soccer fan, Julien has also published articles on fairness in sports both in academic journals and in top-tier newspapers including The New York Times, The Times, Le Monde, and El Pais. Some of his suggestions for draws and tournament design have been adopted by FIFA and UEFA, including a new, fairer draw method for the FIFA World Cup; a fairer format for the 2026 FIFA World Cup (in progress); a new knockout bracket for the UEFA Euro; and an optimized schedule of the UEFA Champions League. His paper “Risk of collusion: Will groups of 3 ruin the FIFA World Cup?” won the 2nd prize at the 2021 MIT Sloan Sports Analytics Conference, the biggest sports analytics event in the world.

Ioannis Karatzas

Ioannis Karatzas is the Eugene Higgins Professor of Applied Probability in Columbia’s Department of Mathematics, whose research interests include Probability and Mathematical Statistics, Random Processes, Stochastic Analysis, Optimization, and Mathematical Economics and Finance. He has served as the managing editor for the book series Applications of Mathematics and on numerous editorial boards such as “Applied Mathematics & Optimization,” “Stochastics,” the “SIAM Journal on Mathematical Analysis,” and the “SIAM Journal on Control & Optimization.” His book with Steven Shreve, Brownian Motion and Stochastic Calculus, first published in 1987, is the standard reference within the field of Stochastic Analysis. Karatzas earned his Ph.D. from Columbia University and helped build and establish this Mathematics of Finance Master’s program.

[email protected] | Website

David X. Li

Adjunct Professor, Department of Mathematics PhD, University of Waterloo, 1995 Credit analytics, Risk Management, FinTech

David X. Li currently teaches at Shanghai Advanced Institute of Finance, Shanghai Jiaotong University. Previously, he held senior positions at various leading financial institutions for more than two decades in the areas of new product development, risk management, asset/liability management and investment analytics.

David has a PhD degree in statistics from the University of Waterloo, Master’s degrees in economics, finance and actuarial science, and a bachelor’s degree in mathematics. Dr. Li was one of the early practitioners in credit derivatives. His work of using copula functions for credit portfolio modeling has been widely cited by academic researchers, broadly used by practitioners for credit portfolio trading, credit risk management and credit rating, and well covered by media such as Wall Street Journal, Financial Times, Nikkei, CBC News.

[email protected]

Bryan Liang

Adjunct Professor, Department of Mathematics PhD, University of Michigan, 2002 Non-Linear Option Pricing

Bryan Liang is an Adjunct Assistant Professor in the Department of Mathematics, specializing in Derivatives Modelling. Additionally, Liang has extensive experience as a quantitative analyst in the finance industry, currently working as a Quantitative Researcher in the Quantitative Financial Research Group for Bloomberg. Liang earned his Ph.D. in Mathematics from the University of Michigan.

Amal Moussa

Adjunct Professor, Department of Mathematics PhD, Columbia University, 2011 Modeling and Trading Derivatives

Dr. Amal Moussa is a Managing Director at Goldman Sachs, where she leads the Single Stocks Exotic Derivatives Trading desk. Prior to that, Amal held senior-level positions in equity derivatives trading at other leading financial institutions such as J.P. Morgan, UBS, and Citigroup. In addition to her work in Markets, Amal is an Adjunct Professor at Columbia University, where she teaches a graduate course on Modeling and Trading Derivatives in the Mathematics of Finance Masters program.

Amal has a Ph.D. in Statistics, obtained with distinction, from Columbia University. Her thesis “Contagion and Systemic Risk in Financial Networks” shed light on the importance of the network structure in identifying systemic financial institutions and formulating regulatory policies and has been cited by several scholars and industry professionals, including former Federal Reserve president Janet Yellen. She was also awarded the Minghui Yu Teaching Award at Columbia University. Prior to her Ph.D., Amal graduated with a Masters in Mathematical Finance from Sorbonne University (former Paris VI) and a Grande Ecole engineering degree from Télécom Paris.

Amal is a board member of Teach for Lebanon, an NGO working to ensure that all children in Lebanon have access to education regardless of socioeconomic background, and she is an active member of the Women in Trading network at Goldman Sachs.

[email protected]

Adjunct Assistant Professor, Department of Mathematics PhD, Columbia University, 1996 Programming for Quantitative & Computational Finance

Ka Yi Ng is an Adjunct Assistant Professor in the Department of Mathematics with extensive quantitative experience in FinTech. Currently, Ng works at Calypso Technology Inc. and serves as an advisor at Finch Lead Inc. Ng previously worked at Wall Street Systems and ION. At Columbia, her interests include Derivatives and Structured Products Development, and Machine Learning. Ng earned her Ph.D. in Mathematics from Columbia University.

[email protected] | Website

Lars Tyge Nielsen

Director of the Mathematics of Finance MA program PhD, Harvard University, 1985

Lars Tyge Nielsen is the Director of the Mathematics of Finance MA (MAFN) program. He was a Chaired Professor, Associate Dean, and Director of the PhD program at INSEAD, the international business school in Fontainebleau, France and Singapore and now Abu Dhabi. He has held academic appointments at Nankai University, China (Chair Professor), NYU, UT Austin, Copenhagen Business School and the University of Copenhagen. Dr. Nielsen spent 13 years on Wall Street as an executive at various institutions including Morgan Stanley and Goldman Sachs.

[email protected] | 212-854-4306 | Website

Colm O’Cinneide

Adjunct Professor, Department of Mathematics PhD, University of Kentucky, 1983 Multi-Asset Portfolio Management

Colm O’Cinneide is an adjunct professor in the Department of Mathematics. He has worked in quantitative asset allocation and portfolio construction roles for the past 20 years at Deutsche Asset Management, QS Investors, and Franklin Templeton Investments, where he is currently an SVP. He was a partner at QS investors. Prior to this, he worked in academia from 1982 to 2000 and held tenured positions in Mathematical Sciences (Statistics) at the University of Arkansas and Industrial Engineering (Operations Research) at Purdue University. He has 40+ refereed publications related to probability, statistics, numerical analysis, and finance, with 1300+ citations and a track record of National Science Foundation funding. He has a PhD in Statistics from the University of Kentucky.

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Inna Okounkova

Editor-in-Chief of the Journal of Investment Consulting, Wealth Management eJournal, and Wealth Management Editor’s Choice eJournal; formerly Director of Investment Strategy at AB Bernstein; prior to that head of Strategic Asset Allocation Portfolio Management and partner at QS Investors, LLC and head of Strategic Asset Allocation Portfolio Management at Deutsche Asset Management; Past President and Director of the Honorary Board of the Society of Quantitative Analysts; MS in Mathematical Economics and ABD from Moscow State University; MBA from the University of Chicago (1999).

[email protected]

Rosanna Pezzo-Brizio

Rosanna Pezzo-Brizio is an Adjunct Professor in the Department of Mathematics, specializing in Fixed Income Portfolio Management. Pezzo-Brizio has a vast array of professional, senior experience, working at Goldman Sachs, Greenwich Capital Markets, Intesa Sanpaolo. Currently, she is the Director of the Investment Consulting Group at New York Life Investments. Pezzo-Brizio holds a Ph.D. in Mathematics of Finance from the University of Brescia. Additionally, she graduated from Columbia University’s Mathematics of Finance program in 1998 as one of the program’s first classes.

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Franz Rembart

Adjunct Assistant Professor, Department of Statistics PhD, University of Oxford, 2016 Statistical Inference / Time-Series Modelling

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Gordon Ritter

PhD, Harvard University Machine Learning for Finance

Professor Ritter is founder and CIO of Ritter Alpha LP, a registered investment adviser running systematic absolute-return trading strategies across multiple asset classes and geographical regions. Before Ritter Alpha, he was a senior portfolio manager at GSA Capital and a Vice President in the Statistical Arbitrage Group at Highbridge Capital Management (HCM). Gordon completed his PhD in mathematical physics at Harvard University and his Bachelors’ degree with honors in Mathematics from the University of Chicago. While at Harvard, he published several papers in the areas of quantum field theory, differential geometry, quantum computation and abstract algebra. His current research is on portfolio optimization and statistical machine learning. Notable publications include “Optimal turnover, liquidity, and autocorrelation,” with @Bastien Baldacci of @ Université Paris Dauphine – PSL and @Jerome Benveniste of @New York University, Risk, 2022, and “Machine learning for trading,” Risk, 2017. In recognition of the latter publication, Professor Ritter was named Buy-Side Quant of the Year in 2019.

[email protected]

Renzo Silva

Adjunct Assistant Professor, Department of Mathematics MBA, Columbia Business School Machine Learning for Finance

Renzo Silva is an Adjunct Assistant Professor in the Department of Mathematics. In addition to his teaching position, Mr. Silva has extensive professional experience in the Financial Technology industry, and he currently serves as a Software Engineering Manager at Google. Previous experiences include Software Development Manager at Amazon, CTO at P1 Capital, and Managing Director at the New York Stock Exchange. Mr. Silva is a graduate of Columbia University’s Mathematics of Finance MA program, and he also holds an MBA in Finance and Economics from Columbia Business School. His research interests include Artificial Intelligence and Machine Learning, Optimization, Simulation, and Quantum Computing.

[email protected]

Mikhail Smirnov

Mikhail Smirnov is a Senior Lecturer in Discipline in the Department of Mathematics and was Director of the Mathematics of Finance program in 1998-2012. His research interests include Quantitative Portfolio Management, Quantitative Investment Strategies, and Risk Measurement. He holds a Ph.D. from Princeton University.

[email protected] | 212-854-6955 | Website

Harvey J. Stein

Dr. Harvey J. Stein left Bloomberg in March 2022 after a distinguished 28 3/4 year career where he built quant and engineering teams and introduced a variety of innovations in option pricing, computation and risk analysis. Dr. Stein is well known in the industry, having published and lectured on credit risk modeling, financial regulation, interest rate and FX modeling, CVA calculations, mortgage-backed security valuation, COVID-19 data analysis, and other subjects. Dr. Stein is on the board of directors of the IAQF, a board member of the Rutgers University Mathematical Finance program, an adjunct professor at Columbia University, and an organizer of the IAQF/Thalesians financial seminar series. He’s also worked as a quant researcher on the Bloomberg for President campaign. He received his BA in mathematics from WPI in 1982 and his PhD in mathematics from UC Berkeley in 1991. He recently started a new position as Senior VP, Quant Research at Two Sigma.

[email protected]

Statistical Interference/ Time-Series Modeling

Yisha Yao is an Assistant Professor with the Department of Statistics. Her research interests span a wide range of modern high-dimensional statistics, including but not limited to nonparametric methods, statistical inferences, mixture models, FDR control, iterative algorithms, tensor analysis, and applications in biomedical sciences. She obtained her PhD in statistics from Rutgers University (New Brunswick) in 2021, and then spent two years at Yale University as a postdoctoral researcher in biostatistics.

[email protected]

Adjunct Professor, Department of Mathematics AB/SM, Harvard University, 1998 Hedge Funds Strategies and Risk

Eric Yeh is an Adjunct Professor in the Department of Mathematics, specializing in Quantitative Investment Strategies. Yeh’s vast professional experience in the Finance industry includes senior positions at Morgan Stanley, Deutsche Bank, Tower Research Capital, and AllianceBernstein. Currently, he is President of Vermillion Leaf Capital LLC and an advisor to multiple investment managers, including the $100M hedge fund he previously co-founded. Yeh holds an AB in Mathematics and an SM in Computer Science from Harvard University.

[email protected]

Ph.D. Specialization in Data Science

The ph.d. specialization in data science is an option within the applied mathematics, computer science, electrical engineering, industrial engineering and operations research, and statistics departments..

Only students already enrolled in one of these doctoral programs at Columbia are eligible to participate in this specialization. Students should fulfill the requirements below in addition to those of their respective department's Ph.D. program. Students should discuss this specialization option with their Ph.D. advisor and their department's director for graduate studies.

Applied Mathematics Doctoral Program

Computer Science Doctoral Program

Decision, Risk, and Operations (DRO) Program

Electrical Engineering Doctoral Program

Industrial Engineering and Operations Research Doctoral Program

Statistics Doctoral Program

The specialization consists of either five (5) courses from the lists below, or four (4) courses plus one (1) additional course approved by the curriculum committee. All courses must be taken for a letter grade and students must pass with a B+ or above. At least three (3) of the courses should come from outside the student’s home department. At least one (1) course has to come from each of the three (3) thematic areas listed below.

Specialization Requirements

• COMS 4231 Analysis of Algorithms I
• COMS 6232 Analysis of Algorithms II
• COMS 4111 Introduction to Databases
• COMS 4113 Distributed Systems Fundamentals
• EECS 6720 Bayesian Models for Machine Learning
• COMS 4771 Machine Learning
• COMS 4772 Advanced Machine Learning
• IEOR E6613 Optimization I
• IEOR E6614 Optimization II
• IEOR E6711 Stochastic Modeling I
• EEOR E6616 Convex Optimization
• STAT 6301 Probability Theory I
• STAT 6201 Theoretical Statistics I
• STAT 6101 Applied Statistics I
• STAT 6104 Computational Statistics
• STAT 5224 Bayesian Statistics
• STCS 6701 Foundations of Graphical Models (joint with Computer Science) 

Information Request Form

Ph.d. specialization committee.

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• Faculty of Arts and Sciences Professor of Statistics
• The Fu Foundation School of Engineering and Applied Science Professor of Computer Science

Richard A. Davis

• Faculty of Arts and Sciences Howard Levene Professor of Statistics

Vineet Goyal

• The Fu Foundation School of Engineering and Applied Science Associate Professor of Industrial Engineering and Operations Research

Garud N. Iyengar

• The Fu Foundation School of Engineering and Applied Science Vice Dean of Research
• Tang Family Professor of Industrial Engineering and Operations Research

Gail Kaiser

Rocco a. servedio, clifford stein.

• Data Science Institute Interim Director
• The Fu Foundation School of Engineering and Applied Science Wai T. Chang Professor of Industrial Engineering and Operations Research and Professor of Computer Science

John Wright

• The Fu Foundation School of Engineering and Applied Science Associate Professor of Electrical Engineering
• Data Science Institute Associate Director for Academic Affairs

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• Dissertation Areas and Joint PhD Programs
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• PhD in Accounting
• PhD in Behavioral Science
• PhD in Econometrics and Statistics
• PhD in 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

Chicago Booth has long been recognized for its PhD in finance. Our finance faculty—which includes Nobel laureates Douglas W. Diamond, Eugene F. Fama, and Lars P. Hansen—sets the course for research in all areas of the field.

As a finance PhD student at Chicago Booth, you’ll join a community that encourages you to think independently.

Taking courses at Booth and in the university’s Kenneth C. Griffin Department of Economics, you will gain a solid foundation in all aspects of economics and finance--from the factors that determine asset prices to how firms and individuals make financial decisions. Following your coursework, you will develop your research in close collaboration with faculty and your fellow students. Reading groups and workshops with faculty, student-led brown-bag seminars, and conferences provide many opportunities to learn from others.

The Finance PhD Program also offers the Joint Program in Financial Economics , which is run by Chicago Booth and the Department of Economics in the Division of the Social Sciences at the University of Chicago.

Our Distinguished Finance Faculty

Chicago Booth finance faculty are leading researchers who also build strong relationships with doctoral students, collaborate on new ideas, and connect students with powerful career opportunities.

Francesca Bastianello

Assistant Professor of Finance and Liew Family Junior Faculty Fellow, Fama Faculty Fellow

Emanuele Colonnelli

Associate Professor of Finance and MV Advisors Faculty Fellow

George M. Constantinides

Leo Melamed Professor of Finance

Douglas W. Diamond

Merton H. Miller Distinguished Service Professor of Finance

Eugene F. Fama

Robert R. McCormick Distinguished Service Professor of Finance

Niels Gormsen

Neubauer Family Associate Professor of Finance and Fama Faculty Fellow

Lars Hansen

David Rockefeller Distinguished Service Professor The University of Chicago Departments of Economics, Statistics and the Booth School of Business

John C. Heaton

Joseph L. Gidwitz Professor of Finance

Steven Neil Kaplan

Neubauer Family Distinguished Service Professor of Entrepreneurship and Finance and Kessenich E.P. Faculty Director at the Polsky Center for Entrepreneurship and Innovation

Anil Kashyap

Stevens Distinguished Service Professor of Economics and Finance

Ralph S.J. Koijen

AQR Capital Management Distinguished Service Professor of Finance and Fama Faculty Fellow

Associate Professor of Finance and Fama Faculty Fellow

Stefan Nagel

Fama Family Distinguished Service Professor of Finance

Scott Nelson

Assistant Professor of Finance and Cohen and Keenoy Faculty Scholar

Pascal Noel

Neubauer Family Associate Professor of Finance and Kathryn and Grant Swick Faculty Scholar

Lubos Pastor

Charles P. McQuaid Distinguished Service Professor of Finance and Robert King Steel Faculty Fellow

Raghuram G. Rajan

Katherine Dusak Miller Distinguished Service Professor of Finance

Bruce Lindsay Distinguished Service Professor of Economics and Public Policy

Quentin Vandeweyer

Assistant Professor of Finance and Fama Faculty Fellow

Pietro Veronesi

Deputy Dean for Faculty and Chicago Board of Trade Professor of Finance

Robert W. Vishny

Myron S. Scholes Distinguished Service Professor of Finance and Neubauer Faculty Director of the Davis Center

Michael Weber

Associate Professor of Finance

Constantine Yannelis

Associate Professor of Finance and FMC Faculty Scholar

Anthony Lee Zhang

Assistant Professor of Finance

Luigi Zingales

Robert C. McCormack Distinguished Service Professor of Entrepreneurship and Finance

Alumni Success

Graduates of the Stevens Doctoral Program go on to successful careers in prominent institutions of higher learning, leading financial institutions, government, and beyond.

Shohini Kundu, MBA '20, PhD '21

Assistant Professor of Finance UCLA Anderson School of Management, University of California, Los Angeles Shohini Kundu's research lies in financial intermediation and macroeconomics, security design and externalities of financial contracts, and emerging market finance. Her dissertation area is in finance.

Jane (Jian) Li, PhD '21

Assistant Professor of Business, Finance Division Columbia Business School, Columbia University Jane's research lies at the intersection of macroeconomics and finance. She is particularly interested in how financial intermediaries affect the real economy and how different types of financial institutions can contribute to financial instability. Her dissertation area is in financial economics.

Spotlight on Research

The pages of Chicago Booth Review regularly highlight the research findings of finance faculty and PhD students.

A Brief History of Finance and My Life at Chicago

Chicago Booth’s Eugene F. Fama describes the serendipitous events that led him to Chicago, and into his monumental career in academic finance.

Climate-Policy Pronouncements Boost 'Brown' Stocks

It was a dramatic example of how White House communications on climate policy can affect asset prices, according to Washington University in St. Louis’s William Cassidy, a recent graduate of Booth’s PhD Program.

With Business Loans Harder to Get, Private Debt Funds Are Stepping In

It’s become harder for many prospective borrowers to access capital. But private debt funds have stepped in to fill the gap, according to Joern Block (Trier University), Booth PhD candidate Young Soo Jang, Booth’s Steve Kaplan, and Trier’s Anna Schulze.

Too Many 'Shadow Banks' Can Limit Overall Access to Credit

While go-betweens can benefit the broader economy by smoothing the flow of credit, there are now probably too many links in the credit chain, argue Zhiguo He and Jian Li (Booth PhD graduate).

A Network of Support

Chicago Booth is home to several interdisciplinary research centers that offer funding for student work, host workshops and conferences, and foster a strong research community.

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.

Becker Friedman Institute for Economics Bringing together researchers from the entire Chicago economics community, the Becker Friedman Institute fosters novel insights on the world’s most difficult economic problems.

Center for Research in Security Prices CRSP maintains one of the world’s largest and most comprehensive stock market databases. Since 1963, it has been a valued resource for businesses, government, and scholars.

Initiative on Global Markets Enhancing the understanding of business and financial market globalization, the IGM positions Chicago Booth as a thought leader in the understanding of ever-changing markets and improves financial and economic decision-making around the world.

George J. Stigler Center for the Study of the Economy and the State Dedicated to examining issues at the intersection of politics and the economy, the Stigler Center supports research by PhD students and others who are interested in the political, economic, and cultural obstacles to better working markets.

Rustandy Center for Social Sector Innovation Committed to making the world more equitable and sustainable, the Rustandy Center works to solve complex social and environmental problems. The center’s student support includes fellowships, research funding, and networking opportunities.

The PhD Experience at Booth

For Itzhak Ben-David, PhD ’08, the PhD Program in Finance was an exploratory journey.

Video Transcript

Itzhak Ben-David, ’08: 00:03 For me, the PhD Program was an exploratory journey. It was about discovering what was interesting for me, what will be interesting for other economists. It was about discovering something new about the world. Much of the PhD Program experience is to explore and to wonder a bit and to just think and expose yourself to new ideas and new disciplines. Back then, this was 2006, I found a billboard that said, "If you buy this house, we're going to give you a free car or $20,000 in cash." And this seemed really odd to me. What I realized that was going on, that this was part of a borrower fraud and the idea was that seller and the buyer will agree on a higher price on a house and the lender would be under the impression that the collateral worth more than it really is.

Itzhak Ben-David, ’08: 00:58 So I started to investigate other parts of the real estate food chain. What I saw is that in many parts of this chain, there were incentives in place pushing the intermediaries or the different economic agents to inflate prices. It's not always a bubble, but oftentimes it points out behavior that is not consistent with our textbook behavior. I had the dream team of advisors, Toby Moskowitz, Dick Taylor, Steve Levitt, and Erik Hurst. Each one of them contributed in different way to my dissertation and brought different ideas, brought different aspects. There is no better place of doing research than in Booth. It's really a hub of academic activity. There is no important work that doesn't pass at Chicago before being published. It's really an intellectual home. When you meet people and you know that they are from Booth, you can see the difference in their thinking.

Current Finance Students

PhD students in finance study a wide range of topics, including the behavior and determinants of security prices, the financing and investment decisions of firms, corporate governance, and the management and regulation of financial institutions. They go on to careers at prestigious institutions, from Yale University to the International Monetary Fund.

Current Students

Rahul Chauhan Ching-Tse Chen Aditya Dhar Mihir Gandhi  Huan (Bianca) He Agustin Hurtado Young Soo Jang Piotr Langer Jessica Li Edoardo Marchesi Rayhan Momin Lauren Mostrom Meichen Qian Francisco Ruela Sixun Tang Hui (Judy) Yue

Booth also offers joint degrees. Learn more about the current students in our Joint Program in Financial Economics .

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!

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Diversity, Equity, and Inclusion

Message from the director.

A welcome message from Sabrina Diano, PhD, Director, Institute of Human Nutrition.

IHN alumni are advancing nutrition around the world through work in the health care industry, clinical research, medical education, and more.

Research Laboratories

Learn more about the Institute for Human Nutrition's research.

In the Community

Local initiatives.

IHN is a proud supporter of local organizations and activities here in Washington Heights and the surrounding communities.

PhD in Nutritional and Metabolic Biology

The Nutritional and Metabolic Biology (NMB) PhD training program prepares students to work at the frontiers of biomedical research in nutritional and metabolic sciences, exploring the role of nutrition in maintaining optimal human health.  The objective of the training program is to prepare individuals who will conduct original basic science research, teach in medical schools and universities, and hold positions of leadership in community and international nutrition.

Housed within the Institute of Human Nutrition (IHN) at Columbia University Medical Center (CUMC), this inter-disciplinary and multi-departmental training program is highly structured and comprises both coursework and basic research. The NMB program is one of the few pre-doctoral training programs in nutrition in the United States that is located within a medical school and is unique among the other PhD programs at CUMC with an equal number of MDs and PhDs as faculty mentors (including ten MD/PhDs). The location of the NMB training program in a medical school offers trainees a wide array of research opportunities in laboratories headed by established senior scientists as well as NIH-funded younger independent investigators, all focused on the role of nutrition and metabolism in health and disease.

nmb_phd_program_faculty_-_life_at_columbia

nmb_phd_program_students_-_life_at_columbia

For information on NMB faculty, please visit the Faculty page on the Graduate School of Arts and Sciences (GSAS) site .

Lori Zeltser, PhD

• Co-director

Anthony Ferrante Jr., MD, PhD

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These are the best graduate school programs in Wisconsin, according to U.S. News & World

Top graduate schools in Wisconsin landed on the latest U.S. News & World Report list ranking more than 2,000 programs across the country. U.S. News & World Report published its 2024-'25 report in April, ranking graduate programs in business, education, law and nursing, among other fields.

University of Wisconsin-Madison's the School of Education tied for first overall with Teacher's College, Columbia University, according the report. That's up from third overall and second among public universities last year.

Several of Marquette University's graduate programs moved up on the list, including the master's program in the College of Nursing, which moved up from 66 to 58.

Schools were evaluated based on expert opinion and statistical data measuring the quality of the school's faculty, research and post-graduate outcomes. You can find the full list on the U.S. News website for graduate rankings on their website www.usnews.com/best-graduate-schools .

Top business graduate programs in Wisconsin:

University of Wisconsin-Madison: #43

Top law graduate programs in Wisconsin:

University of Wisconsin-Madison: #36 (tie)

Marquette University: #68 (tie)

Top nursing graduate programs in Wisconsin:

Marquette University: #58 (tie)

University of Wisconsin-Milwaukee: #82 (tie)

University of Wisconsin-Eau Claire: #107 (tie)

University of Wisconsin- Oshkosh: #118

Alverno College: #119 (tie)

Milwaukee School of Engineering: #153-169

Top medical graduate programs in Wisconsin:

University of Wisconsin-Madison: #35 (tie)

Top education graduate programs in Wisconsin:

University of Wisconsin-Madison: #1 (tie)

University of Wisconsin-Milwaukee: #169 (tie)

Marquette University: #192

Top Engineering graduate programs in Wisconsin:

University of Wisconsin-Madison: #27 (tie)

Marquette University: #142 (tie)

University of Wisconsin-Milwaukee: #177 (tie)

RELATED: Here's how Wisconsin universities ranked in the 2024 Best Colleges list

This article originally appeared on Milwaukee Journal Sentinel: Top graduate programs in Wisconsin, according to U.S. News & World

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