CURRICULUM The GPEF is divided into a coursework phase and a research phase. Coursework stage Research stage 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. As the compulsory courses in the Finance specialisaiton are quantitatively very demanding, 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. COMPULSORY 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 Spring Asset Pricing Prof. Matthias Fengler Spring Financial Volatility Prof. Francesco Audrino Spring Students have to take three compulsory, Master level courses. Specialisation: ECONOMETRICS Students have to take three compulsory, Master level courses. Course Lecturer Semester Microeconometrics Prof. Michael Lechner Spring Time Series Econometrics Prof. Matthias Fengler 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 Spring Financial Volatility Prof. Francesco Audrino Spring Specialisation FINANCE: Students have to complete four compulsory 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 COMPULSORY ELECTIVE Courses ECONOMETRICS SPECIALISATION Course Lecturer Semester Topics in Econometrics and Finance Prof. Francesco Audrino Autumn & Spring Time Series Methods in Financial Econometrics 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) Theoretical Aspects of Machine Learning Prof. Petyo Bonev Spring PEF / GSERM* (GSERM) Topics in Advanced Microeconometrics Prof. Stefan Sperlich Spring PEF / GSERM* (GSERM) Computational Statistics Prof. Francesco Audrino Spring PEF / GSERM* (GSERM) Econometrics of Big Data Prof. Martin Spindler 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 / Prof. Giacomo Pasini Autumn 2021 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. Christian Keuschnigg 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 Regression Analysis for Spatial Data Prof. Roland Füss / Dr. Zeno Adams Spring Banking and Contract Economics Prof. Martin Brown / Prof. Steven Ongena Spring (not in 2022) Topics in Insurance Economics Prof. Hato Schmeiser Spring RESEARCH PROPOSAL 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. During the research phase students spend most of their time conducting research and writing their thesis. Students also attend Ph.D. seminars. Ph.D. students are encouraged to present their work in conferences during the research stage and receive financial support to do so. Ph.D. SEMINARS 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. Ph.D. THESIS 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. PRE-DEFENCE 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. PUBLIC DEFENCE 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).