Doctoral Program in Decision, Risk and Financial Sciences at The University of Melbourne

Doctoral Program in Decision, Risk and Financial Sciences

The University of Melbourne

Course details

CRICOS course code: 056955G

Level of study: Postgraduate

Summary

The Doctoral program in Decision, Risk and Financial Sciences at the University of Melbourne in the Department of Finance provides training in the conceptual principles and research techniques across the social, biological and mathematical sciences fields that analyse human decision-making and problem-solving in the context of risk and complexity at individual and market levels. Students will draw on experimental methods and conceptual principles to deliver solutions to key research questions relating to decision-making, risk and financial sciences.

The program is made up of a 2-year Master of Commerce coursework program followed by a 3-year PhD.

Generous scholarships (full fee waivers and a stipend of AUD$30,000 per year) are available for high-performing applicants through the University of Melbourne.

Our key areas of study include:

Individual decision-making: Experimental investigation of the neurobiology of decision-making and learning (decision neuroscience), with a focus on decisions in the presence of risk (e.g., extreme events) and complexity (e.g., combinatorial problems); human-robot interaction in financial decision-making (e.g., robo-advisors).
Group decision-making: Experimental investigation of decision-making and learning in small groups.
Financial markets: Experimental investigation of decision-making in financial markets (experimental finance), e.g.: emerging intelligence through markets; dark markets; algorithmic trading; human-robot interaction in markets; combinatorial double-sided markets.
Development of software: online double-sided markets platform; app development with interactive games/tools needed to overcome cognitive biases.

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Tuition Fees (AUD $)	Start date	Duration	Campus
43,808 Per Year	Expected Jul 2023	5 years Full time	The University of Melbourne Parkville Campus Grattan Street Melbourne Victoria 3010 Australia

Entry criteria

In order to be considered for entry, you must have completed:

a four-year bachelor degree in a relevant discipline which includes a substantial research component equivalent to at least 25% of one year of full-time study and have achieved a minimum weighted average of 75% in the final year subjects or (University of Melbourne) equivalent, or
a masters degree in a relevant discipline which includes a substantial research component equivalent to at least 25% of one year of full-time study and achieved a minimum weighted average of 75% or (University of Melbourne) equivalent, or
a qualification and professional experience considered to be equivalent.

Minimum scores and tests accepted

IELTS: Overall 7.0 with 7.0 in writing (no band less than 6.0)
TOEFL (paper-based): 600 and 5.0 in Test of Written English (TWE)
TOEFL (internet-based): 94, with writing 27, speaking 18, reading 13, listening 13
TOEFL (computer-based): Minimum score of 250 and score of 5.0 in the essay rating
Pearson Test of English (Academic): 65 and a written communicative skill of 65 and no other communicative skill below 50.