Graduate Programme in Economics and Finance (GPEF)

The Graduate Programme in Economics and Finance (GPEF) trains students to achieve academic excellence in the areas of Economics, Econometrics and Finance with a particular focus on policy relevant theoretical and empirical research.

GPEF Graduates are regularly selected for very reputable academic and non-academic positions. The GPEF Ph.D. programme provides a solid basis for starting an international academic career. Recent academic placements include Erasmus University in Rotterdam, King's College in London, Northeastern University in Boston, Drake University, Goethe University in Frankfurt, University of Massachusetts Amherst, University of Lausanne, Fisher College of Business at the Ohio State University, and University of Zürich.


The GPEF offers a structured Ph.D. programme tailored towards a high-quality and internationally oriented education in economics, econometrics and financial research. Graduates are regularly selected for very reputable academic and non-academic positions. The University of St. Gallen is one of the most renowned universities in the fields of finance, economics, and business in Europe.

"After spending a few years in management consulting, I wanted to deepen my understanding of banking, asset pricing, and corporate finance. The Ph.D. Programme in Finance gave me an opportunity to delve into research of my choosing on these subjects. Ultimately, the program prepared me to compete with top graduates from around the world. It gave me the theoretical and empirical foundations to apply my knowledge to important academic and policy questions."


Kristian Blickle, Ph. D., Financial Economist at the Federal, Reserve Bank of New York


"I joined the Ph.D. Programme in Economics and Finance after working in the financial sector. My motivation was to build expertise in macroeconomics and to get closer to policy institutions. The  programme provided me with rigorous foundations in economics during the course phase. As a doctoral student, I could also benefit from the accessible faculty. The programme entails various interactions with faculty members and distinguished speakers. I had sufficient time for my research and could also engage in teaching activities. I am still in contact with the faculty and continue to value what the programme brought me."


Marc-Antoine Ramelet, Ph. D., Economist at Swiss National Bank Zurich

Facts GPEF

Degree Doctor of Philosophy in Economics and Econometrics /  Doctor of Philosophy in Finance from the University of St.Gallen (Ph.D. HSG).
Start of programme KW 8 (Spring semester, only PEcon) / KW 38 (Autumn semester) 
Duration max. 10 Semesters; full time
Number of Credits 52 ECTS
Application window

Autumn semester application period: 1 February - 30 April  (* 1 February - 15 August)
Spring semester application period: 1 September – 30 November (* 1 September - 15 January)

*A longer registration period for assistants and applicants with an HSG Master's degree

Average class size 5 - 8 
Current gender ratio 71% / 29%
International students 40%

Semester fees

For domestic students CHF 629.00

For foreign students CHF 1079

Funding Ph.D. students are usually employed as teaching and research assistants at their supervisor’s chair.
Funding (30’000 - 60’000 CHF) & workload according to individual agreements.
Admission requirements Please follow the link
GPEF Website

Dr. Mirela Keuschnigg

Executive director Graduate Programme in Economics and Finance (GPEF)

+41 71 224 3138


Discover more

The PhD Programme in Finance, PiF, is now part of SFI

Since autumn 2022, our doctoral programme in Finance, PiF, operates under the umbrella of the Swiss Finance Institute.

Welcome to our first five SFI students enrolled at campus St. Gallen!


Prizes for GPEF students awarded on 18 September 2023

GPEF Prize for the best thesis 2023:
- Finance: Benedikt Ballensiefen (PiF), Mathis Mörke (PiF) and Fabricius Somogyi (PiF)
- Economics: Hannah Winterberg (PEF)
- Econometrics: Aurelien Sallin (PEF)
eastNew GPEF prize

Prizes for GPEF students awarded on 18 September 2023

SMIF Prize on topics in Quantitative Finance and Economics for PEF and PEcon students:
Cédric Müller (PEF) and Jeannine Polivka (PEF)
eastNew Prizes for GPEF students

GPEF Steering Committee

Mirela Keuschnigg


Executive Director

University of St. Gallen
Müller-Friedbergstrasse 8
9000 St. Gallen

Tereza Tykvová

Prof. Dr.

Member of the Steering Committee

Academic director PiF

Büro 51-4011
Unterer Graben 21
9000 St. Gallen

Beatrix Eugster

Prof. PhD

Member of the Steering Committee

Academic director PEcon

Büro 06-106
Varnbüelstrasse 14
9000 St. Gallen

Michael Lechner

Prof. Dr.

Chair of the Steering Committee

Büro 06-301
Varnbüelstrasse 14
9000 St. Gallen

Student representatives

Peter Kress



Büro 06-102
Varnbüelstrasse 14
9000 St. Gallen

Marcel Freyschmidt


Projektleiter und Lehrstuhlassistent

Büro 54-303
Girtannerstrasse 6
9010 St. Gallen

Further Links