International Programmes 2025/2026©paginationHomeBackPreviousNextPhD Programme with Tracks in Accounting, Economics, Finance, or MarketingPhD Programme in Accounting, Economics, Finance, or MarketingGoethe University Frankfurt• Frankfurt am MainOverviewCourse detailsCosts / FundingRequirements / RegistrationServicesDegreePhDCourse locationFrankfurt am MainIn cooperation withThe Graduate School of Economics, Finance, and Management (GSEFM) constitutes an alliance involving Goethe University Frankfurt, Johannes Gutenberg University Mainz, and Technische Universität Darmstadt.Teaching languageEnglishLanguagesCourses are held exclusively in English.Full-time / part-timefull-timeProgramme duration8 semestersBeginningWinter semesterAdditional information on beginning, duration and mode of studyPre-semester courses start around mid-September.Application deadlineApplications will be reviewed in three stages with the following deadlines:31 January31 March31 MayParticularly strong candidates from the first two stages will receive a positive admissions decision within approximately six weeks of the deadline for the respective stage. Other applicants from these two stages will receive the admissions decision together with the applicants from stage three.Applicants from the third stage will learn about a positive admissions decision by the middle of July. All applicants who could not be admitted will be duly informed once the admissions process has been completed.GSEFM strongly encourages candidates to apply in stage one or stage two to have sufficient time for visa applications and other arrangements. Additionally, all financial aid for PhD programme students may be awarded during the first or second stage of the admissions process.Tuition fees per semester in EURNoneCombined Master's degree / PhD programmeYesJoint degree / double degree programmeNoDescription/contentCompelling for its coverage of both theory and empirical analysis, the PhD programme at GSEFM offers a two-year cycle of doctoral-level courses developed specifically to transmit a rigorous methodological framework in the core areas of each track of the programme (economics, finance, marketing and accounting), followed by courses designed to expose students to the research frontier in a variety of fields of specialisation (accounting, development and international economics, econometrics, finance, macroeconomics, marketing, and microeconomics). The curriculum of the programme pays special attention to helping students with a smooth transition from the course phase to the dissertation writing phase. It thus contains various structural elements in the dissertation writing phase (including a third-year research paper requirement, a guided teaching requirement, transferable skills courses, and a job market course), intended to help students to complete their doctoral education and present themselves in the job market in the most effective way. The overarching objective of the GSEFM PhD programme is to thoroughly prepare graduates for taking on leading positions in academia or serving as experts in international institutions, government, and the private sector, in all cases bringing to bear insights based on independent and novel research.Placements of GSEFM PhD graduates include Cambridge University, Columbia University, INSEAD, New York University, Oxford University, University of Amsterdam, Xiamen University, International Monetary Fund, World Bank, European Central Bank, Deutsche Bundesbank, Federal Reserve System, Bank of Korea, Hong Kong Monetary Authority, ministries, and a variety of private financial sector institutions and economic consultancies.Course organisationIn the first year of the programme, students have the choice between the following four tracks:Economics: In this track, students in the first year of studies attend core courses in macroeconomics, microeconomics, econometrics, mathematical methods, and programming languages. At the end of the first year students who wish to continue in the programme also must pass qualifying examinations in microeconomics, macroeconomics, and econometrics.Finance: In this track, students in the first year of studies attend core courses in finance, micro- or macroeconomics, econometrics, mathematical methods, and programming languages. At the end of the first year students who wish to continue in the programme also must pass qualifying examinations in finance, micro- or macroeconomics, and econometrics.Marketing: In this track, students in the first year of studies attend core courses in marketing, microeconomics, econometrics, mathematical methods and programming languages. At the end of the first year, students who wish to continue in the programme also must pass qualifying examinations in marketing, microeconomics and econometrics.Accounting: In this track, students in the first year of studies attend core courses in accounting, econometrics, microeconomics, mathematical methods, and programming languages. At the end of the first year, students who wish to continue in the programme also must pass qualifying examinations in accounting, econometrics, and microeconomics.Second-year courses discuss how to carry out frontier research. They are offered in a wide range of fields. The fields offered are accounting, microeconomics and management, macroeconomics, econometrics, finance, marketing as well as development and international economics. The choice of field courses is free across the four tracks, except that students must pick at least one field course that originates within their PhD programme track. Another part of the second year of studies is a research seminar that also helps with deepening skills in writing and presenting papers.The dissertation writing phase contains various structural elements (including a third-year research paper requirement, a guided teaching requirement, transferable skills courses, and a job market course), intended to help students to complete their doctoral education and present themselves in the job market in the most effective way.A Diploma supplement will be issuedYesInternational elementsInternational comparisons and thematic reference to the international contextIntegrated internshipsInternships are not compulsory, but they are possible on a voluntary basis.Teaching/work obligations or opportunitiesPhD students are eligible for assistantship positions. Some faculty members consider first-year students for these positions, which may require the ability to teach in German. To date, almost all students who excel during their first year have been able to secure a position as a student, teaching and research assistant by the middle of the second year. Hiring for these positions occurs on a decentralised basis through the individual faculty members.Special promotion / funding of the programmeOther (e.g. state level)Course-specific, integrated German language coursesNoCourse-specific, integrated English language coursesNoTuition fees per semester in EURNoneSemester contributionGoethe University charges an administrative fee of about 377 EUR per semester (about 754 EUR per year). This includes free entrance to museums in Frankfurt as well as the "student ticket" that entitles you to unlimited use of all buses, trams, the subway, and regional trains in the Frankfurt, Darmstadt and Mainz ("Rhine-Main") region.Costs of livingThe cost of living in Frankfurt depends on personal requirements and lifestyle. However, students should expect minimum expenses of approx. 1,000 EUR per month. This calculation is based on the following items: 860 EUR for rent, food, clothing, and study materials, around 81 EUR for compulsory health insurance that is almost comprehensive, and approx. 60 EUR for the semester contribution (including free public transport).Funding opportunities within the universityYesDescription of the above-mentioned funding opportunities within the universityPhD programme students may receive financial aid in the form of a stipend for the first year of studies. For further information, clickhere. Since all financial aid may be awarded during the first or second round of admissions, it is strongly recommended to submit applications by 31 January or latest 31 March of the calendar year for which admission is being sought.PhD programme students are eligible to apply for student assistant positions at the GSEFM faculties. Some faculty members consider first-year students for teaching/research assistant positions that may require the ability to teach in German. Most of the financial support for second- and higher-year PhD students comes in the form of student-assistant positions as well as teaching and research assistantships.Academic admission requirementsA Bachelor's or Master's degree is required.Click herefor detailed information about the requirements.Language requirementsThe exclusive language of all GSEFM degree programmes is English. Sufficiently strong English language skills may be documented in one of the following forms:(i) A diploma/degree certificate from a secondary school with English as the official language of instruction (The secondary school must have been attended for at least two years.)(ii) At least one year of successfully completed university-level studies in a degree programme being exclusively taught in the English language(iii) Test of English as a Foreign Language (TOEFL) or International English Language Testing System (IELTS) scores; The minimum scores are as follows: TOEFL/iBT: 93; TOEFL/PBT: 580; IELTS: 7.0.Test scores that are older than four years at the time of the deadline for the stage in which the complete application is submitted cannot be accepted.The TOEFL-designated institution code for GSEFM is "7276".Application deadlineApplications will be reviewed in three stages with the following deadlines:31 January31 March31 MayParticularly strong candidates from the first two stages will receive a positive admissions decision within approximately six weeks of the deadline for the respective stage. Other applicants from these two stages will receive the admissions decision together with the applicants from stage three.Applicants from the third stage will learn about a positive admissions decision by the middle of July. All applicants who could not be admitted will be duly informed once the admissions process has been completed.GSEFM strongly encourages candidates to apply in stage one or stage two to have sufficient time for visa applications and other arrangements. Additionally, all financial aid for PhD programme students may be awarded during the first or second stage of the admissions process.Submit application toPleaseclick herefor information about how to apply, and clickherefor detailed information about application requirements and deadlines.Possibility of finding part-time employmentJob opportunities extend beyond the university: 44,000 companies and organisations based in Frankfurt have approximately 450,000 employees on their payrolls. Furthermore, 350 banks, including the European Central Bank, 150 foreign banks, and the fourth-largest stock exchange in the world are based in the city. Well known as one of the most important financial centres in Europe, Frankfurt is also home to various cultural and research institutions. All these entities are key players in a flourishing environment that offers students and graduates interesting jobs and internships. The GSEFM Student Services Office, the "Studierendenwerk", and the Career Services at Goethe University provide information and support to graduate students who want to combine their studies with part-time jobs. However, it should also be noted that chances of successfully completing studies on time decline significantly when spending more than one day per week on non-study related work.AccommodationFrankfurt am Main offers a wide variety of accommodations from university dorms to privately rented apartments. The biggest providers of dorms are theStudierendenwerk(student services) and churches. The more than 30 dormitories offer about 3,800 accommodation units, starting from about 200 EUR per month for a single room to up to approx. 590 EUR per month for a family apartment of about 45 m². For further information, clickhere. As these rooms are in high demand, we strongly recommend that students contact the institutions in question as soon as they receive their letters of admission to the programme.Research training / discussionYesCareer advisory services and programmes for future professionalsFourth-year PhD programme students participate in a job market course. This course helps to understand the hiring practice of academic employers, and prepares for the application process for PhD graduates at all types of employers, inter alia through practising interviewing and presentation skills.Support for international students and doctoral candidatesSpecialist counsellingCultural and linguistic preparationVisa mattersGoethe University FrankfurtUniversity locationActivate mapTo activate the map, click on the "Show map" button. We would like to point out that data will be transmitted to OpenStreetMap after activation. You can find out more in ourprivacy policy.You can revoke your consent to the transmission of data at any time.Show mapContactGoethe University FrankfurtGraduate School of Economics, Finance and ManagementProf Michael BinderTheodor-W.-Adorno-Platz 360323 Frankfurt am Main+49 6979833809E-Mail:EmailWeb:Course website