Student Guide

Aalto Doctoral Programme in Business, Economics and Finance

Curriculum 2022-2024

The curriculum 2022-2024 applies to students who have started their studies 1.8.2022-31.7.2024.

If you have started your studies earlier, you can also follow an earlier curriculum:

Aalto doctoral curriculum (more doctoral level courses)

The Aalto Doctoral Programme in Business, Economics and Finance is a doctoral degree programme offered by the Aalto University School of Business.

Information on the programme

Structure of the programme 2022-2024

The curriculum of the Doctoral Programme in Business, Economics, and Finance consists of compulsory coursework (60 ETCS credits) and independent research leading to a doctoral dissertation in the student’s chosen field of study. The coursework comprises required and elective courses in basic research training and in the student’s chosen field of study. Specific degree requirements vary with the student’s chosen field of study.

Doctoral students are required to report regularly on their progress at departmental research seminars.

Doctoral dissertation

The dissertation for a Doctor of Science (Economics and Business Administration) degree can be a monograph or an article- or essay-based dissertation. The dissertation is expected to advance knowledge in the student’s chosen field of study. The scope and general quality requirements of doctoral dissertations are specified in the Degree Regulations on Doctoral Education decided by University Academic Affairs Committee on August 1, 2018.

Before completing the doctoral degree, it is possible to also complete a Licentiate of Science (Economics and Business Administration) degree. The degree requirements of the Licentiate degree are specified in the Degree Regulations on Doctoral Education decided by University Academic Affairs Committee on August 1, 2018.

All students are strongly recommended, however, to work directly towards the doctorate, DSc (Econ.).

Program specialization areas

The programme has three general program specialization areas with specific degree requirements: Business, Economics, and Finance. The degree requirements for each of the programme specialization areas are specified in the following three chapters.

Content of studies: Business

Compulsory coursework, in the programme specialization area Business comprises required and elective courses in basic research training (General Research Studies 18 ETCS) and in the student’s chosen field of study (Research Field Studies 42 ETCS).

The students are obliged attend the orientation seminar organized at the beginning of the studies and to present their research proposal for doctoral dissertation at the research seminar, and to report regularly on their subsequent progress.

General research studies, 18 ECTS (Business)

In the program specialization area Business, the General research studies consist of 18 ECTS credits of coursework that provides students with academic and research training in the broad area of business research.

All doctoral students in the program specialization area must complete:

Course code Course name ECTS Period

MNGT-L2000

LC-L1010

Essential Academic Skills

Research Ethics for Doctoral students D

4

2

V

II or IV

And at least two of the following courses (12 ECTS):

Course code Course name ECTS Period
30E00500 30E00500 Quantitative Empirical Research 6 no teaching 2023-2024
MNGT-L2200 Philosophy of Social science 6 I-II

MNGT4-L7000 

or

90L54009

Qualitative Research in Management Studies 

or

Qualitative research: Principles and practices

6

6

III 

no teaching 2023-2024 (course discontinued)

MARK-L20001 Historical Approaches to Business Research  6 IV

Research field studies, 42 ECTS (Business)

Research field studies in the program specialization area Business are offered in following majors:

Content of studies: Economics

Compulsory coursework, in the programme specialization area Economics comprises of General Research Studies, 48 ETCS, and Research field studies, 12 ECTS.

The students are obliged attend the orientation seminar organized at the beginning of the studies and to present their research proposal for doctoral thesis at the research seminar, and to report regularly on their subsequent progress.

General research studies, 48 ECTS (Economics)

LC-L1010 Research Ethics for Doctoral students D is compulsory for all students. Students are strongly recommended to complete all the courses listed below.

Those students who have already completed these or corresponding courses as part of a Master’s degree (e.g. research master track) must complete additional studies under Research field studies to fulfill the requirement of 60 ECTS for the doctoral degree. Please contact Pauli Murto for planning the course selection in such a case.

Course code   Course name   ECTS   Period   Additional information  
LC-L1010  Research Ethics for Doctoral Students D  1-2    IV  
ECON-L2100   Advanced Microeconomics 1   5     I Helsinki GSE
ECON-L2200   Advanced Microeconomics 2   5     II  
ECON-L2300   Advanced Microeconomics 3   5     III  
ECON-L2400   Advanced Microeconomics 4   5     IV  
ECON-L3100   Advanced Macroeconomics 1   5     I Helsinki GSE  
ECON-L3200   Advanced Macroeconomics 2   5     II Helsinki GSE 
ECON-L3300   Advanced Macroeconomics 3   5     III Helsinki GSE
ECON-L3400   Advanced Macroeconomics 4   5     IV Helsinki GSE
ECON-L4100   Advanced Econometrics 1   5     I Helsinki GSE
ECON-L4200   Advanced Econometrics 2   5     II Helsinki GSE
ECON-L4300   Advanced Econometrics 3   5     III Helsinki GSE
ECON-L4400   Advanced Econometrics 4   5     IV  

Content of studies: Finance

Compulsory coursework, in the programme specialization area Economics comprises of General Research Studies, 48 ETCS, and Research field studies, 12 ECTS.

The students are obliged attend the orientation seminar organized at the beginning of the studies and to present their research proposal for doctoral dissertation at the research seminar,  by participating in Helsinki Finance Seminar and presenting papers at the Aalto BB seminar, GSF Workshops and/or NFN PhD workshop.

General research studies, 48 ECTS (Finance)

All Finance students acquire rigorous knowledge needed in academic finance research by completing the compulsory courses listed  below and a research seminar

Course code  Course name  ECTS  Period  Additional information 
28L88800  Academic Writing and Paper Presentation Clinic   

This is a GSF course. Additional information on course requirements and schedule can be found on the GSF page, http://gsf.aalto.fi/studies.html 

LC-L1010  Research Ethics for Doctoral Students   IV  

ECON-L4100 

Advanced Econometrics 1   5   I Finance PhD students take the Helsinki GSE course in Advanced Econometrics 1. More information on Helsinki GSE page, https://www.helsinkigse.fi/  

ECON-L4200 

Advanced Econometrics 2   III Finance PhD students take the Helsinki GSE course in Advanced Econometrics 2. More information on Helsinki GSE page, https://www.helsinkigse.fi 
  Courses in Microeconomics  10    Finance PhD students take the Helsinki GSE courses in Microeconomics ECON-L2100 part 1, ECON-L2200 part 2, ECON-L2300 part 3 or ECON-L2400 part 4. All these courses are worth 5 ECTS credits and in total Finance PhD students need to take 10 ECTS credits. More information on Helsinki GSE page, https://www.helsinkigse.fi/  
28L30111  Theoretical Asset Pricing  I-II This is a GSF course in Theoretical Asset Pricing. Additional information on course requirements, schedule, prerequisites, course outlines, reading lists etc. can be found on the GSF page, http://gsf.aalto.fi/studies.html 
28L30211  Empirical Asset Pricing   TBC This is a GSF course in Empirical Asset Pricing. Additional information on course requirements, schedule, prerequisites, course outlines, reading lists etc. can be found on the GSF page, http://gsf.aalto.fi/studies.html 
28L30311  Theoretical Corporate Finance  III-IV This is a GSF course in Theoretical Corporate Finance. Additional information on course requirements, schedule, prerequisites, course outlines, reading lists etc. can be found on the GSF page, http://gsf.aalto.fi/studies.html 
28L40122  Empirical Corporate Finance  V This is a GSF course in Empirical Corporate Finance. Additional information on course requirements, schedule, prerequisites, course outlines, reading lists etc. can be found on the GSF page, http://gsf.aalto.fi/studies.html 

Doctoral thesis

The dissertation for a Doctor of Science (Economics and Business Administration) degree can be a monograph or an article- or essay-based dissertation. The dissertation is expected to advance knowledge in the student’s chosen field of study. The scope and general quality requirements of doctoral dissertations are specified in the Degree Regulations on Doctoral Education decided by University Academic Affairs Committee on August 1, 2018.

Before completing the doctoral degree, it is possible to also complete a Licentiate of Science (Economics and Business Administration) degree. The degree requirements of the Licentiate degree are specified in the Degree Regulations on Doctoral Education decided by University Academic Affairs Committee on August 1, 2018.

All students are strongly recommended, however, to work directly towards the doctorate, DSc (Econ.).

In the research field of accounting the students are obliged to present their research proposal for doctoral thesis at the research seminar, and to report regularly on their subsequent progress at the seminar.

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