Collaborative Program in Management and Economics
NOTE: We have initiated the process of closing this program. We expect that September 2012 will be the last date we admit students into it. Any students admitted in September 2012 as well as all students currently in the program will be able to complete the program as planned; the program closure will have no effect on these students. (In particular, the program closure will not entail the cancellation of any classes.)This program is joint between the Department of Economics and the Rotman School of Management. The program is similar to the PhD program in Economics, but has a concentration in Finance. It is offered on a full-time basis only with one admission date, September.
To be admitted, an applicant must satisfy the admission requirements for the Economics PhD. Once an applicant has been accepted to the PhD program in Economics, his/her application will be forwarded to the Coordinator of the Collaborative Program. The program of study will be managed by the Economics Department. Any financial support will be awarded by the Economics Department.
Year One
The first year of study focuses on microeconomic theory, econometrics, and finance.Courses
The course requirements for the first year are- ECO1011H, an intensive preparatory course in mathematics and statistics for PhD students, which meets daily for three weeks beginning in mid-August
- ECO2020H, Microeconomic Theory I
- ECO2030H, Microeconomic Theory II
- ECO2400H, Econometrics I
- ECO2401H, Econometrics II.
- MGT3030H, Finance Theory I
- MGT3031H, Finance Theory II
Microeconomic Theory Comprehensive Exam
Students are required to take a comprehensive examination in Microeconomic Theory after the end of the Winter semester. Performance on this exam is evaluated on a distinction/pass/fail basis. If the exam is failed on the first attempt, it must be re-taken later in the summer (usually in August) of the same year.Year Two
During the second year, students complete courses in macroeconomic theory and finance.Courses
- ECO2021H, Macro I
- ECO2031H, Macro II
- MGT3032H, Empirical Methods in Finance
- MGT3033H, Current Topics in Finance
- MGT3034H, Topics in Empirical Finance.
Students should also regularly attend the Finance Seminar.
Macroeconomic Theory and Finance Comprehensive Exams
Students are required to take a comprehensive examination in Macroeconomic Theory after the end of the Winter semester. Performance on this exam is evaluated on a distinction/pass/fail basis. If the exam is failed on the first attempt, it must be re-taken later in the summer (usually in August) of the same year.At the first opportunity after the end of the second year, students must also write the comprehensive exam in Finance Theory set by the Rotman School of Management. If the exam is failed on the first attempt, it must be re-taken later in the summer (usually in August) of the same year.
Year Three
Courses
Students will satisfy their distributional requirement in finance by taking two courses in a stream approved by the Rotman School of Management (e.g. Financial Engineering) drawn from the second-year MBA courses (e.g. the MGT2300H series). Note: There is some flexibility in the timing of the courses in the economics and management distributional requirements. Students are encouraged to organize these four courses over the second and third years in a way that will allow them to satisfy all of their course requirements by December of their third year.Graduate Research Seminar
Students must also participate in the Graduate Research Seminar (ECO4060Y), a year later than students in the Economics PhD stream, but will otherwise face the same deadlines. Thus they need to formulate a "second year paper" proposal by February of their third year and find a supervisor and finish this paper by September of their fourth year.Year Four to Six
The second year paper must be presented in the Fall term of the relevant faculty workshop (e.g. Finance or Econometrics). By the first day of classes in January, students must have formally set up their PhD supervisory committee.Subsequently students work on their dissertations. After the final draft of the dissertation has been accepted by the supervisory committee, an oral examination is scheduled and the thesis is publicly defended in accordance with the established procedures of the School of Graduate Studies.