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GPEF Curriculum

The programme is divided into a coursework phase and a research phase.

Courses totalling 52 credits (max. 10 Semesters) ensure that as a graduate of the Graduate Programme in Economics and Finance (GPEF), you will possess the required in-depth knowledge in your main specialisation.

 

During the coursework phase students achieve a broad and advanced knowledge of key areas of Economics, Econometrics and Finance, including theoretical and empirical research methodology. During the course phase students must complete compulsory courses, compulsory elective courses and a research proposal.

To help the students with the finance courses, the programme offers a two-week intensive course in mathematics as preparation at the beginning of the Ph.D. studies (applicants without a strong mathematical background may be required to complete this course).

A maximum of four semesters is planned for the coursework phase.

COURSE PHASE
You begin your studies with the coursework phase, which consists of compulsory courses and compulsory elective courses.

 

SPECIALISATION: ECONOMICS

Students have to take three compulsory, Master level courses.

Course Lecturer Semester
Advanced Macroeconomics II Prof. Winfried Königer Autumn
Advanced Microeconomics II Prof. Dennis Gärtner Autumn
and one of the following:
Microeconometrics Prof. Michael Lechner Spring
Time Series Econometrics Prof. Matthias Fengler (Prof. Lyudmila Grigoryeva in Spring 2023) Spring
Asset Pricing Prof. Matthias Fengler (Daniele Ballinari, Ph.D., in Spring 2023) Spring
Financial Volatility Prof. Francesco Audrino Spring
 

SPECIALISATION: ECONOMETIRCS

Students have to take three compulsory, Master level courses.

Course Lecturer Semester
Microeconometrics Prof. Michael Lechner Spring
Time Series Econometrics Prof. Matthias Fengler (Prof. Lyudmila Grigoryeva in Spring 2023) Spring
and one of the following:
Advanced Macroeconomics II Prof. Winfried Königer Autumn
Advanced Microeconomics II Prof. Dennis Gärtner Autumn
Asset Pricing Prof. Matthias Fengler (Daniele Ballinari, Ph.D., in Spring 2023) Spring
Financial Volatility Prof. Francesco Audrino Spring
 
SPECIALISATION: FINANCE

Students have to complete four compulsory Ph.D. courses

Course Lecturer Semester
Econometrics for Finance Prof. Paul Söderlind Autumn
Microeconomics for Finance Prof. Anastasia Kartasheva Autumn
Asset Pricing Prof. Matthias Fengler Autumn
Corporate Finance Prof. Marc Arnold Autumn
ECONOMETRICS SPECIALISATION        
Course Lecturer Semester    
Topics in Econometrics and Finance Prof. David Preinerstorfer Autumn & Spring    
Time Series Methods in Financial Econometrics (not in HS22) Prof. Patrick Gagliardini Autumn    
Recent Advances in Optimal Policy Design Prof. David Preinerstorfer Spring    
(GSERM) Regression Analysis for Spatial Data Dr. Zeno Adams / Prof. Roland Füss Spring PIF/GSERM*  
(GSERM) Smart data-driven econometrics Prof. Stefan Sperlich Spring PEF / GSERM*
(GSERM) Computational Statistics Prof. Francesco Audrino Spring PEF / GSERM*
(GSERM) Causal Machine Learning Prof. Michael Lechner Autumn PEF / GSERM*
Econometric Methods for Social Spillovers and Networks (HS22) Prof. Bryan Graham Autumn    
ECONOMICS SPECIALISATION    
Course Lecturer Semester
Designing Redistributive Policies Prof. Domink Sachs Autumn
Macroeconomics and Inequality Prof. Reto Föllmi / Prof. Winfried Koeniger Autumn
Political Economics of Development Prof. Roland Hodler Spring
(Mental) Health and the Labor Market Prof. Beatrix Eugster Autumn
Aggregate implications of firm heterogeneity Prof. Timo Boppart  Spring
Empirical Evaluation of Economic Models (HS21) Prof. Conny Wunsch Autumn / Spring
Quantitative Macroeconomics: a practical approach for all Prof. Guido Cozzi and Dr. Maria Iordache-Bolboaca Autumn
Topics in Economics Prof. Ola Mahmoud Autumn & Spring
FINANCE SPECIALISATION    
Course Lecturer Semester
Market Microstructure Prof. Angelo Ranaldo Spring
Empirical Corporate Finance Prof. Markus Schmid Spring
Topics in Asset Management Prof. Manuel Ammann / Prof. Markus Schmid Spring
(GSERM Regression Analysis for Spatial Data Prof. Roland Füss / Dr. Zeno Adams Spring
Topics in Insurance Economics Prof. Hato Schmeiser Spring
Selected Recent Research Directions in Theoretical and Empirical Asset Pricing (FS23) Prof. Fabio Trojani  Spring

 

During the course phase students have to hand in a detailed research proposal for their Ph.D. thesis and present it to their thesis committee in a colloquium. In the research proposal, Ph.D. students provide the thesis outline and discuss preliminary results. The research proposal is not graded, but it has to be accepted. Following the acceptance of the research proposal, students are admitted into the research phase. All courses have to be completted and passed. The research phase starts in the term when the research proposal is successfully defended.

RESEARCH PHASE
During the research phase you will focus on writing your doctoral thesis. In addition, you will attend and present your work in the Ph.D. seminars. The compulsory seminars can only be attended after having submitted the research proposal.

In the Ph.D. seminars students present their research papers. They receive feedback from faculty and fellow Ph.D. students. The seminars offer a forum for an active scientific debate.

The finance Ph.D. seminars take place weekly, the schedule can be found  here.

The Ph.D. thesis is written in English as a cumulative thesis. It consists of (at least) three articles that represent the quality standards of good international refereed journals. At least one of the articles has to be single-authored by the Ph.D. candidate.

At the end of the research phase, students have to submit the thesis and present it to the members of their Ph.D. Thesis Committee in a pre-defence examination. At this stage the Thesis Committee can ask for changes or corrections to the submitted manuscript. After having successfully passed the pre-defence, the public defence is held. The final version of the thesis is printed according to the HSG regulations.

After the acceptance of the thesis, the dissertation is presented in a public Ph.D. defence which concludes the doctoral studies. Students who successfully had their public defense, are awarded the degree Doctor of Philosophy in Economics and Econometrics or Doctor of Philosophy in Finance from the University of St.Gallen (Ph.D. HSG).

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