Research in Finance
Ana Maria S. Balcão Reis Peão da Costa
Enrolment fee * – 500 €*
The enrolment fee should be paid after being accepted in the program, during the enrolment period defined by the school. Successful candidates will be required to pay an initial non- refundable, non-transferable € 500 to guarantee their place on the program. Students will then be eligible for a € 500 reduction on their first semester fee once they enroll.
1st Year – 2200 € per semester
2nd Year – 1650 € per semester and by each additional semester
Classes will take place on a daily basis from Monday to Friday.
The primary goal of the Research Masters in Finance is to deepen the knowledge of Financial theory and develop the research skills required for those who intend to continue their studies in the doctoral program in Finance.
During the first year there will be 4 compulsory courses that will be complemented with 4 elective courses among those already available on other School’s second cycle programs. Click here for a full list of second cycle courses.
Compulsory Courses – First Year
- 2148 - Micro: Decisions and Interactions
- 2510 - Mathematics I (half course) *
- 2511 - Mathematics II (half course) *
- 2224 - Investments (half course) *
- 2216 - Corporate Finance (half course) *
- 2219 - Empirical Finance
* these are “half courses” and last half semester
Students will have 6 courses, attend one seminar and do a Project Work. Moreover, one research paper at the level of a reflection survey or an exploratory research work will be required. This paper will be produced under the supervision of a member of Faculty that might become the future advisor for the doctoral dissertation. If the student does not find a supervisor for this work, supervision will be undertaken by one of the second-year course instructors.
Second Year Courses
- 110004 - Microeconomic Theory I
- 110116 - Asset Pricing
- 110087 - Advanced Mathematics
- 110088 - Advanced Econometrics
- 110118 - Continuous-Time Finance
- 110117 - Corporate Finance
The matching seminar will take place over two semesters and will allow second year students to be exposed to Faculty research interests. The participation in this seminar is compulsory and students are encouraged to use it in order to look for a supervisor and a research topic, otherwise their paper will be supervised by one of the second-year course instructors and the topic will be related to course content.
The Project Work evaluates two aspects: proficiency in Finance Theory, Corporate Finance and Asset Pricing and research ability. The latter is pre-evaluated by the completion of the research paper, whereas theory knowledge is pre-evaluated by the completion of a written general exam with a corporate finance and an asset pricing part.
Once a student has passed the general exam and completed their research paper with a supervisor’s approval, he or she can be admitted for the oral defense of their Project Work. At this defense a jury, consisting of the general exam jury or a subset of it, and the paper supervisor, will question the student on the research paper with a broad view.
The crucial moment of evaluation is the preliminary exam which has two parts – corporate finance and asset pricing. The student must be approved separately in the two components.