Finance DPhil
University of Oxford, United Kingdom
DPhil in Finance
University of Oxford
Finance
DPhil in Finance at Oxford Saïd Business School
The DPhil in Finance at the University of Oxford's Saïd Business School is a rigorous doctoral programme designed to develop the next generation of leading finance researchers. The DPhil corresponds to a PhD degree offered at most other universities and provides in-depth training in academic research skills to develop you as a productive scholar.
Research topics within the programme embrace subjects such as asset pricing, corporate finance, the design and regulation of securities markets, corporate financial policy, and the impact of financial markets on real economic activity. You will work closely with internationally renowned faculty members who are at the forefront of their respective fields.
The programme is deliberately kept small, which means that in the vast majority of cases students are fully funded to allow them to devote their energies to research. As a DPhil student, you will be immersed in all aspects of academic life, serving as both a student and a junior research colleague within one of the most prestigious universities in the world.
Key Programme Highlights
- Fully funded places available for the majority of admitted students, allowing you to focus entirely on your research
- Two provisional supervisors assigned in your first year, with the opportunity to transition to supervisors aligned with your evolving research interests
- Access to paid teaching and research assistant opportunities, conference funding, and postgraduate careers resources
- Membership of an Oxford college, providing a unique academic and social community enriching your doctoral experience
Curriculum and Research Structure
The DPhil in Finance follows a structured progression from foundational coursework to independent research. During your first year as a Probationer Research Student (PRS), you are required to attend six core courses from the MPhil Economics programme and Saïd Business School doctoral courses list, plus two elective courses. Following successful completion of coursework, you will progress through transfer and confirmation milestones before submitting your thesis.
Financial Economics I
CoreA foundational course covering key theories and models in financial economics, including asset pricing, portfolio theory, and market efficiency. This module is drawn from the MPhil in Economics programme.
Financial Economics II
CoreAn advanced course building on Financial Economics I, exploring topics such as corporate finance theory, capital structure, and the interaction between financial markets and the real economy.
Microeconomics
CoreCovers advanced microeconomic theory including game theory, information economics, and mechanism design, providing essential analytical foundations for finance research.
Macroeconomics
CoreExamines advanced macroeconomic models and their implications for financial markets, including monetary policy, business cycles, and international finance frameworks.
Econometrics
CoreProvides rigorous training in econometric methods essential for empirical finance research, covering estimation techniques, hypothesis testing, and causal inference.
Doctoral Research Methods
CoreTraining in principal research methods delivered at both Saïd Business School and the wider University, equipping students with the methodological toolkit needed for independent scholarly research.
Elective Courses
Admission Requirements
Admission to the DPhil in Finance is highly competitive, with nine shared places available for the DPhil Finance and DPhil Management programmes combined and an average of approximately 70 applications received annually. Candidates are assessed on academic excellence, research potential, and alignment with the programme's research strengths. Contact Uni4Edu for guidance on preparing a competitive application.
Academic Requirements
- Undergraduate DegreeAt least an upper second class honours degree (2:1) or equivalent, with a minimum GPA of 3.5 on a 4.0 scale
- Postgraduate DegreeA master's degree in a relevant field is strongly preferred, ideally with distinction-level performance
- GRE or GMATA strong GRE or GMAT score is required; official scores must be submitted as part of the application
- Research ProposalA clear and well-structured statement of purpose explaining research interests, preferred supervisors, and post-DPhil plans (max 1,500 words)
- Academic ReferencesThree academic references submitted via the application system, from valid institutional or professional email addresses
English Language Requirements
- IELTS AcademicOverall score of 7.5 with at least 7.0 in each component
- Oxford Test of English AdvancedAccepted as proof of English proficiency; scores must be less than two years old at programme start date
- English-medium DegreeA full-time degree of at least nine months duration taught and assessed entirely in English may be accepted at the University's discretion
Required Documents
Application Deadlines
For personalized admission guidance, document verification, and application support, please contact Uni4Edu
Scholarships & Funding
The DPhil in Finance programme has been deliberately kept small, and in the vast majority of cases students are fully funded to allow them to devote their energies to research. Multiple funding sources are available through Saïd Business School, the University of Oxford, Oxford colleges, and external bodies. Contact Uni4Edu for personalised guidance on funding opportunities.
Saïd Business School Doctoral Support
Varies (partial to full funding)Saïd Business School aims to fund as many DPhil students as possible. Eligible applicants are automatically considered based on their programme application, with funding potentially combined from multiple University and college sources.
Green Templeton College-Oxford Saïd DPhil Scholarship
Partial to full awardOffered in conjunction with Saïd Business School, this scholarship is available to DPhil Finance and Management students. All offer-holders are invited to apply by submitting a personal statement about their potential contribution to college life.
Academic Futures Scholarships
Course fees plus a grant for living costs of at least GBP 21,805A University of Oxford initiative addressing under-representation in the graduate student body. DPhil applicants from eligible backgrounds across five streams are supported to pursue doctoral study at Oxford.
For detailed tuition fee information, please contact Uni4Edu — we will guide you through the costs and available funding options for this program.
Career Prospects
Graduates of the Oxford DPhil in Finance are prepared for distinguished careers in academia, research, and the financial sector. The programme's emphasis on rigorous original research, combined with teaching and research assistant experience, equips graduates with the skills valued by leading universities, central banks, and financial institutions worldwide.
Typical Career Paths
Where Oxford DPhil Graduates Work
Rankings & Recognition
The University of Oxford is consistently ranked among the top universities in the world by all major ranking bodies. Its Saïd Business School has rapidly established itself as a leading centre for finance research, and the DPhil programme benefits from the University's exceptional global reputation and research environment.
| Subject | Ranking Body | Rank |
|---|---|---|
| Economics & Econometrics | QS Subject Rankings | #9 |
| Social Sciences & Management | QS Subject Rankings | Top 5 |
| Accounting & Finance | QS Subject Rankings | Top 10 |
| Business & Management Studies | THE Subject Rankings | Top 10 |
How to Apply
Applying for this program is easy with Uni4Edu. Our team will guide you through every step of the process — from document preparation to final enrolment.
Contact Uni4Edu
Reach out to our team via email or phone. We will assess your profile and confirm your eligibility for this program.
Prepare Your Documents
Our advisors will provide you with a personalised checklist of required documents and help you prepare your application package.
Submit Your Application
Uni4Edu will submit your application on your behalf and keep you updated on its progress throughout the review period.
Receive Your Offer
Once accepted, we will help you understand your offer, arrange visa support if needed, and guide you through the enrolment process.
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