Curriculum Doctoral studies are divided into a coursework phase and a research phase. After successfully defending the thesis, students are awarded the degree of a Doctor of Philosophy - with specialisation in Economics, Econometrics or Finance - from the University of St. Gallen (Ph.D. HSG). Coursework Phase The PEF starts with doctoral courses. Challenging courses cover a broad range of topics including theoretical and empirical research methodology. Students benefit from an international environment with English being the exclusive programme language. In addition to our faculty members, a number of distinguished visiting professors from European and US universities teach in our programme. During the coursework phase, students complete the course requirements for their specialisation ("Economics", "Econometrics" or "Finance"), write and present the research proposal. Research Phase During the research phase students attend Ph.D. and Literature seminars, which offer a forum for active scientific exchange between students and faculty. Students devote most of their time to writing the thesis according to the research plan outlined in the research proposal. A research-oriented and internationally established faculty offers advice and close supervision to PhD students. The doctoral thesis consists of three publishable essays. Please note that we now offer a new Integrated Master and Ph.D. programme (MPEF) to our Master's students (MEcon and MiQE/F).