Doctor of Philosophy in Finance

Program Identifier: DPHILFI

Alternative Program
Students considering the Doctor of Philosophy in Finance should also consider the Doctor of Finance program.

Overview
The Doctor of Philosophy in Finance degree, D.Phil. in Finance, is the highest level of academic qualification within the domain of finance. The purpose of the D.Phil. is to provide the student with a solid grasp of all aspects of financial research at the doctoral level. Students pursuing this degree are interested in examining a financial problem from a theoretical perspective and are capable of carrying out independent research at a high level. Students entering this program have the intention of becoming professors within academic institutions or using their research skills within consulting companies.

The award of the D. Phil. degree is based on the submission  and defense of a thesis/dissertation. Theses are typically between 100,000 and 140,000 words or 250 to 350 pages excluding exhibits, bibliography and appendices and must be in publishable form. It should constitute a significant and substantial piece of research. The duration of the program is between three to four years of study. The maximum time allowed for completion of the degree is six years.

Study Modes

  • Residential On-Campus (36 Months)
  • By Remote Study  (36 Months)

Note On Remote Study Structure
Dissertation-only and research methodology course, over 36 month period. The D.Phil. in Finance program is also designed as a remote study option. Students complete the program under the supervision of their dissertation supervisor using the state of the art Moodle Learning Platform. Students are not required to be on-campus except for the final dissertation defense (viva voce).

Design
The D.Phil is comprised of a research methodology course taken immediately upon entry to the program. Once completed the student prefects his/her dissertation proposal for submission and acceptance within the first 6 to 12 months. Once accepted the student enters the dissertation phase of the program and works with his/her supervisor to complete the dissertation work. When the final draft of the dissertation has been approved by the student’s supervisor the student then submits the dissertation for evaluation. After the dissertation has been approved the student then presents the work in the form of a viva voce or committee defense required for the D.Phil. in Finance degree. The evaluation of this degree is 100% based on the quality of the final dissertation presented to the committee. Students have a limit of 60 months within which they must defend their dissertation in front of the committee.

Dissertation
Each candidate is required to complete a dissertation that focuses on a topic of interest within the domain of financial theory contributing to new knowledge in the field. Theses are typically between 100,000 and 140,000 words. The research methodology used within the thesis will be determined by the student as an outcome of the research methodology course.

ECTS & Hours of Study
The D. Phil. in Finance program accounts for 180 credits under the ECTS scheme, European Credit Transfer and Accumulation System. The ECTS are split between the Research Methodology course component and the Dissertation preparation stages. Each ECTS represents 25 hours of study. Therefore, the program accounts for 4,500 hours of study. Though the allocated allotment of study hours may vary per student, the program design is based on the following:

  • Res600: Research Methodology for Doctoral Students (30 ECTS; 750 hours)
  • Phase 1: Literature Research and Design – Draft Introduction & Literature Review Sections (45 ECTS; 1,125 hours)
  • Phase 2: Research & Data Collection – Draft Methodology & Data Presentation Sections (45 ECTS; 1,125 hours)
  • Phase 3: Final Preparation of Thesis – Draft Conclusion & Recommendation Section (45 ECTS; 1,125 hours)
  • Defense Preparation (20 ECTS; 375 hours)
  • Candidate Defends Dissertation in Committee (1 Day Event, Max 2 Hours, Obligatory)

The learning objectives are specifically identified within the Research Methodology course and pertain to the entire thesis preparation and defense.

Program Available To

  • Graduates from accredited M.Phil. in Finance programs with an average grade of B- or above.
  • Graduates from accredited Master of Commerce, MBA. M.Sc. in Administration programs with concentration in Finance or similar Master degree that has a substantial thesis component. Student must show an average of B- or above and be able to demonstrate the ability to complete high level academic research.
  • Honors Bachelor of Business Administration or Bachelor of Commerce students with first class honors and concentrations in finance may be granted admission on the prerogative of the Dean on a case-by-case basis.

ABD Transfers
Ph.D. or D.Phil. in Finance candidates from other Universities that have concluded their course work but have yet to complete their thesis work may be eligible to complete their dissertation work at Monarch given that they meet the eligibility requirements. Eligibility is determined on an individual basis and candidates should inquire with the administration.

Standard Program Tuition
The program may be followed through the following two options:

  • Residential On-Campus = 50,000 €
  • By Remote Study = 20,000 €
  • Ph.D. in Administration Option (Dual Degree Option) = 5,000 € Additional Fee

Supplemental Library Access Fees
The University charges a digital library access fee for each student to cover the duration of their program of study. Master students are charged a fee of 250.00 €. Doctoral students are charged a fee of 500.00 €.

Tuition Payment
Fees are payable semi-annually in advance.

Tuition Payment Method
Tuition Fees are payable by international wire transfer.

Scholarship For Students Originating From Developing Countries
In order to help make available the opportunity to complete higher degrees for students originating from developing countries, as defined by the OECD, the Office of the Dean of the Faculty provides partial scholarships equivalent to 25% of the total standard program tuition. Eligible students must indicate their intention to request such tuition relief upon application to the program. The Dean’s Scholarship is only available under the Distance Learning Option. Please note that as a private university UGSM-Monarch Business School is not in a position to provide full scholarships as it does not receive support from government agencies.