University of Melbourne

Overview

The PhD program in Decision, Risk and Financial Sciences at the University of Melbourne is designed to equip students with advanced research skills necessary to address significant challenges in decision-making and financial risk management.

This comprehensive course integrates a 2-year Master of Commerce coursework with a 3-year PhD, offering a solid foundation for both academic and professional achievement.

Outstanding candidates may qualify for generous scholarships, which can include full fee waivers and an annual stipend, along with additional funding for research activities, experiments, and conferences during the PhD period.

Students benefit from training by leading experts across diverse faculties, including Business and Economics, Medicine, and Engineering, with opportunities for practical lab rotations.

What you'll study

Core Areas of Study:

• Individual Decision-Making: Explore the neurobiology of decision-making, emphasizing risk and complexity, including human-robot interactions in financial settings.
• Group Decision-Making: Examine the dynamics of decision-making within small groups using experimental methods.
• Financial Markets: Conduct experimental finance research, investigating algorithmic trading, dark markets, and other innovative market interactions.
• Software Development: Participate in the creation of platforms for online markets and tools aimed at reducing cognitive biases.

Entry requirements

There are no specific GRE, GMAT, or GPA requirements for this program.

Applicants must demonstrate proficiency in English through one of the following:

• TOEFL iBT: Minimum score of 79
• PTE Academic: Minimum score of 64
• IELTS: Minimum score of 6.5

Additional requirements include:

• Official academic transcripts
• Proof of English language proficiency
• Current CV detailing academic and professional experience
• Research publications (if applicable)

Career prospects

• Graduates are well-prepared for academic positions at prestigious institutions and for roles that require high-level research and analytical expertise.

Upon completion of the PhD program, graduates may also be eligible for a post-study work permit in Australia, allowing them to work in their field of study for a duration of up to 2 years. Eligibility criteria include holding a valid student visa during the course of study and meeting specific application requirements. For detailed information, refer to the Australian Government's Department of Home Affairs.