View Full Version : PhD admission chances in the fields of econometrics and/or finance

01-30-2008, 08:37 PM
I was wondering which field may be easier to get into: econometrics (time series and forecasting/financial econometrics/volatility modelling) or financial economics (financial markets/efficiency/empirical finance/financial econometrics/others). I am a physicist in a Solvency and Risk Research group with some research work in financial time series (financial econometrics and econophysics; here is my profile (http://www.urch.com/forums/phd-economics/73478-please-evaluate-my-profile.html#post479330)). I have taken master (in economics) courses in financial economics, in statistics, and in econometrics (I also took undergraduate probability and measure theory), but I don't have neither a master in finance, nor a master in statistics. I am planning to apply to a (top 20) PhD in economics program in fall 2008, and I would prefer the field of time series analysis, but I wonder if I have an actual chance without the master in statistics. Any advice, opinion or statistics about in which field I could have higher admission chances would be much appreciated.

01-31-2008, 01:48 AM
Your record looks ok. If you're still worried, consider applying to 2-3 programs outside of top 20. For example U of Washington and USC have been graduating many people who work in time-series and/or empirical finance recently; MSU has at least one good T.S. guy who works close to finance, TAMU has a couple of senior faculty members who work in time-series with applications to finance. In fact, only few top 20 programs are actually good in time series. Among the top 20 programs, UCSD is probably the best for your interests, but there are probably many other good places. UCLA has good asset pricing theorists but only junior faculty who work in T.S. In terms of which field is easier to get into, I think that doesn't really matter much. The economics adcoms probably do not emphasize fields too much when evaluating applications. However, your background suggests that you're already more focused on time-series and empirical finance than most other applicants, so if anything I think you have a slight advantage for getting into a program with good faculty in these subjects.

Also, if you're predominantly interested in empirical finance, you might consider applying to a few Finance PhD programs because empirical finance people tend to be working mostly in finance departments.

01-31-2008, 05:26 PM
Thank you very much, your info will be quite valuable for my decision.