Economics and Finance PhD
MPhil option available
This course has an MPhil option
PhD student loans
The UK Government has introduced PhD loans of up to £25000 to UK and EU nationals, residing in England, for postgraduate research programmes starting in the academic year 2018-19. Read more here.
About the course
Research students are welcomed to Brunel as valued members of our thriving, research-intensive community. A research degree provides the opportunity to investigate a topic in depth, and contribute new knowledge to your discipline.
A PhD involves demonstrating through original research or other advanced scholarship the creation and interpretation of new knowledge, a systematic acquisition and understanding of a substantial body of knowledge at the forefront of an academic discipline or professional practice, the ability to conceptualise, design and implement a project for the general of new knowledge, applications or understanding at the forefront of the discipline. Both full-time (3 years) and part-time (6 years) study routes are available.
MPhil degree option
An MPhil involves the exploration of a research topic and is typically studied over a shorter period of 1 year for a full-time student and 2 years for a part-time student. MPhil students are required to demonstrate a systematic understanding of knowledge and a critical awareness of current problems and/or new insights informed by the forefront of their discipline, field of study or professional practice.
Our research is broadly focused in our five research groups: Economic Development and Institutions, Empirical Finance, Accountancy and Corporate Governance, Macroeconomics and Banking. Within each group we have built a broad base of skills that allow us to respond to the ever-changing research environment. Each group encourages and supports individual researchers, from those just starting out as PhD students to those who have reached the highest levels of achievement. The groups provide support for research activities and funding proposals and provide opportunities for discussion of research ideas and the dissemination of findings.
In addition to the supervisory team, each student is allocated an academic development adviser in thier research area to ensure the quality of supervision at the department. We provide students with opportunities for engaging in teaching as teaching assistants, and teacher training is provided. We emphasise the dissemination of your research output, where students are given opportunities to present their papers in the departmental internal seminar series. We also have the annual doctoral symposium, where all students and staff get together to discuss research outputs in a friendly academic environment. Such event will give you an invaluable inspiration in your research activities.
Potential student research projects:
- Economic growth
- Political economy
- Labour economics
- International macroeconomics
- Institutional economics
- Development and transition economics
- Growth theory and empirics
- Macroeconomic theory and policy
- Development economics
- Exchange rate and small macro modelling
- Applied macroeconomics
- Open economy macroeconomics
- Business cycles
- Central banking
- European economic governance
- Exchange Rate Modelling
- Applied macroeconomics
- Microeconomics theory
- Industrial economics
- Competition policy
- Applied microeconomic theory
- Applied Micro-econometrics
- Labour and family economics
- Financial econometrics
- Econometrics of panel data
- Non-stationary time series
- Nonlinear time series
- Regulatory econometrics
- Time series econometrics
- Macro Econometrics
- Behavioural finance especially momentum, disposition
- Financial development
- Market microstructure and asset pricing
- The impact of derivatives on underlying markets
- The information content of Director trades
- Executive stock options
- Insider trading (general)
- Determinants and consequences of financial reporting quality
- Applied corporate finance
- Insider trading
- Financial economics
- Emerging financial markets
- Global finance
- Credit risk and company credit rating
- Behavioural finance and neuroeconomics
- Innovation and company performance
- Non- and semi-parametric methods
- Agency Theory
- Contingent capital securities
- Debt Pricing
- Financial Contracting
- Hedge Funds
- Investment Strategies
- Performance Measurement
- International finance
- Empirical finance
- Financial crises and contagion
- Arbitrage in economic and financial markets
- Early Warning Systems
- Banking Crises
- Bank regulation
- Banking sector in emerging economies
- Bank performance
- Financial contracts, auditing and taxation on accounting quality
- Accounting regulations and financial reporting of SMEs
- Earning management anomaly and company valuation
- Behavioural accounting
Contact our Enquiries team.
Course Enquiries: +44 (0)1895 265599 (before you submit an application)
Admissions Office: +44 (0)1895 265265 (after you submit an application)
Research degrees evolve in different ways according to discipline. Find out about what progress might look like at each stage of study here: Research degree progress structure
PhD+ Award – An internship to work in the industry or perform a research outreach or enterprise activity.
PhD Plus is a career development scheme designed to provide an opportunity for excellent PhD students to undertake work experience and mentoring, and to facilitate their transfer into a career area of their choice. The awards are targeted at exceptional PhD students who have submitted their thesis within the expected submission date and will provide up to three months’ funded support for the period after submissions of their thesis and before the confirmation of the award. The precise number awards each year will depend on the quality of the applicants, up to a maximum 8 awards. The maximum amount to be awarded will be in line with RCUK rates for research training support grants: http://www.rcuk.ac.uk/skills/training/
Careers and your future
Graduate destinations range from academic institutions, public sector institutions to private sector. We are proud of having quite a number of successful career holders, for example
- In academics, our graduates are working in the University of Hull, University of Surrey, University of Glasgow and University of Northampton. The recent employers includes Durham and Sussex. Overseas, our graduates are found in the University of Heidelberg, Lagos State University and South Western University.
- Our gradates are also found in such prestigious institutions as the European Central Bank, Institute of Public Administration in Saudi Arabia, Ministry of Strategy and Finance in Korea, Asian Development Bank.
- In the private sector, our graduates are working in such banks as Bank of Italy, Barclays Capital.
At Brunel we provide many opportunities and experiences within your degree programme and beyond – work-based learning, professional support services, volunteering, mentoring, sports, arts, clubs, societies, and much, much more – and we encourage you to make the most of them, so that you can make the most of yourself.
» More about Employability
Entry criteria 2019/20
The general University entrance requirement for registration for a research degree is normally a First or Upper Second Class Honours degree. All international students must show evidence that they meet the English requirement for their course of study. The Senate reserves the right to assess the eligibility of applicants on an individual basis.
As part of our application process for entry on our research degree (MPhil and PhD) programmes, we ask you to provide a 500-1,000 word research statement, excluding any references/bibliography you may include, setting out your research motivation, ideas and aspirations. Learn how to prepare a research statement here.
Entry criteria are subject to review and change each academic year.
International and EU entry requirements
If your country or institution is not listed or if you are not sure whether your institution is eligible, please contact Admissions
This information is for guidance only by Brunel University London and by meeting the academic requirements does not guarantee entry for our courses as applications are assessed on case-by-case basis.
English language requirements
- IELTS: 6.5 (min 6 in all areas)
- Pearson: 58 (51 in all subscores)
- BrunELT: 65% (min 60% in all areas)
You can find out more about the qualifications we accept on our English Language Requirements page.
If you require a Tier 4 visa to study in the UK, you must prove knowledge of the English language so that we can issue you a Certificate of Acceptance for Study (CAS). To do this, you will need an IELTS for UKVI or Trinity SELT test pass gained from a test centre approved by UK Visas and Immigration (UKVI) and on the Secure English Language Testing (SELT) list. This must have been taken and passed within two years from the date the CAS is made.
Should you wish to take a pre-sessional English course to improve your English prior to starting your degree course, you must sit the test at an approved SELT provider for the same reason.
We offer our own BrunELT English Test and have pre-sessional English language courses for students who do not meet requirements or who wish to improve their English. You can find out more information on English courses and test options at the Brunel Language Centre.
Teaching and learning
Supervisors with insight
Our supervisors create knowledge and advance understanding, and equip research students with the confidence to apply what they have learnt for the benefit of society. Take a look below at just a few of them:
Nauro Campos - Macroeconomics
Guglielmo Caporale - International Finance
Qiwei Chen - Finance/Accounting
Ioana Chioveanu - Microeconomics
Mauro Constantini - Econometrics
Jan Fidrmuc - Macroeconomics
Charles Grant - Applied Microeconometrics
Sugata Ghosh - Macroeconomics
John Hunter - Econometrics
Menelaos Karanassos - Econometrics
Dilly Karim - Banking
Aris Kartsaklas - Empirical Finance
Kyriacos Kyriacou - Finance
Siming Liu - Accounting
Javier Martinez - Macroeconomics
Bryan Mase - Finance
Tomoe Moore - Banking
Russ Moro - Finance
Frank Skinner - Finance
Fabio Spagnolo - Econometrics
Nicola Spagnolo - Empirical Finance
Corrado Macchiarelli - Macroeconomics
Philip Davis - Banking
Fang Xu - Econometrics
Find out more about working with the Supervisory Team here.
In order to facilitate your research activities, we have wide range of provisions:
- We provide a number of training programmes
- Students are free to join the existing MSc programs to enhance their skills and knowledge
- We provide conference fund for a paper presentation
- Database such as Datastream and Bloomberg are available to students alongside key econometrics software.
Study environment for research students
Find out more: Study environment for research students
Excellent research support and training
Extensive training and support is offered to all research students by the Graduate School, with regular Masterclasses and individual advice on academic issues as part of the Researcher Development Programme. Read more about the available Research Support and Training.
Brunel's library is open 24 hours a day, has 400,000 books and 250,000 e-books, and an annual budget of almost £2m. Subject Information Specialists train students in the latest technology, digital literacy, and digital dissemination of scholarly outputs.
- state-of-the-art research information management tools including a research publication and grant database
- one of the largest UK’s full text repository
- an integrated data management system
- analytical tools such as Altmertic and InCites
- Open Access centrally managed fund
Facts and figures
Brunel University London REF2014 Submission: Economics and Econometrics. The Research Excellence Framework (REF) is a system for assessing the quality of research in UK higher education institutions. The results of the REF2014 have been made public in December 2014, replacing the previous REF conducted in 2008. The next REF will be undertaken in 2020.
Research Excellence Framework (REF) 2014 - A Guide for PhD Students
Fees and funding
Fees for 2019/20 entry
Full time: TBC / Part time: TBC
Full time: £15,400 Part time: £7,700
Full time: £4,260 / Part time: £2,130
Full time: £14,800 Part time: £7,400
We offer a range of PhD studentships, partial scholarships, and academic prizes, to help with your research fees. Explore external funding, particularly the Research Councils, as well as other support.
Some courses incur additional course related costs. You can also check our on-campus accommodation costs for more information on living expenses.
Fees quoted are per year and are subject to an annual increase.