Department of Economics & Finance
College of Business - City University of Hong Kong AACSB International EQUIS - European Quality Improvement System

PhD/MPhil (Economics)


The Department is committed to training and fostering prospective students to become excellent researchers and outstanding professionals in the areas of economics and finance. We offer research degree programmes leading up to the degree of Doctor of Philosophy (PhD) and Master of Philosophy (MPhil). Upon completion of the programme, students will be well-equipped to work and be able to contribute significantly in academic institutions and in various business sectors. The Department has one of the strongest research teams in Asia in the field of economics and finance. The areas of strength of our current faculty members include, among others, international trade and finance, economic development and growth, micro and macro economic theory, econometrics, money and banking, urban and real-estate economics, Chinese economy, public economics, corporate finance, financial markets, market microstructure, security analysis and portfolio management, derivative instruments, banking system and financial institutions, and management of financial institutions.

Research Rankings of the Department of Economics and Finance in Asia:

  • No. 3 in the top 25% institutions in Hong Kong and 4 faculty members ranked amongst the top 25% authors in Hong Kong (IDEAS, RePEc website), accessed in September 2017


  • No. 1 in International Economics (Review of International Economics, 2009)
  • No. 1 in per capita research publications in Economics (Review of International Economics, 2008)
  • No. 2 in Real Estate (Journal of Real Estate Finance and Economics, 2011)
  • No. 3 in Development Economics (Review of International Economics, 2009)


Graduate Placements


HO Cheuk Yin Assistant Professor, Beijing Normal University·Hong Kong Baptist University, United International College, Hong Kong
HUANG Ju Assistant Professor, Nanjing Audit University, China
JIANG Mingming Assistant Professor, Shandong University, China
PANG Yu Assistant Professor, Macau University of Science and Technology
LAI Te Assistant Professor, Guangdong University of Foreign Studies, China
LI Lingxiao Assistant Professor, California State University, USA
LIN Mi  Lecturer, University of Lincoln, UK
LIN Zhitao Assistant Professor, Jinan University, China
SO Pik Ki Lecturer, Hong Kong Baptist University, Hong Kong
TANG Chi Ho Assistant Professor, Hong Kong Shue Yan University
XIAO Hong Manager, Hong Kong Monetary Authority, Hong Kong

Programme Details

Programme Structure

Coursework Requirements
PhD/MPhil students are required to take the stipulated courses specified by the Chow Yei Ching School of Graduate Studies and the College of Business. In addition, students have to fulfill the following coursework requirements designated by the Department.

PhD students have to take the following 6 core courses (18 credits) and at least 1 or 2 elective courses (6 credits).

  • Advanced Microeconomics
  • Advanced Macroeconomics
  • Econometrics
  • Topics in Microeconomics
  • Topics in Macroeconomics
  • Topics in Econometrics

MPhil students have to take the following 2 core courses.

  • Advanced Microeconomics
  • Advanced Macroeconomics

In addition, PhD students are also required to complete the Qualifying Examination successfully by 31 December of the second year of study. 

Thesis Submission
An MPhil thesis should present the results of research investigation, give evidence of a sound understanding of the area of study, its context and applicability, and make a contribution to knowledge. A PhD thesis, in addition to the above, should make a substantial original contribution to knowledge in the subject area concerned.

Supervisory Arrangement

During the study period, research degree student will be supervised by at least one teaching staff of the Department.

Study Period

Students are required to complete their studies, including the submission of their theses, within the below stipulated study periods.

Degree Period of Study (year)
Full-time Part-time
MPhil 2 4
PhD 4 8


Admission applications should be sent directly to Chow Yei Ching School of Graduate Studies. For admission details, please refer to the below websites. To apply on-line, please click Apply Now.

Research Proposal
Although the submission of research proposal is not compulsory, applicant is encouraged to provide a few-page proposal on the topic you intend to study, and how you want to approach the problem. Inclusion of details of your plan and a reference list would be helpful too.

Admission Handbook - Research Degree Programmes 2018 Entry (Chow Yei Ching School of Graduate Studies)
It provides information about entrance requirements, English proficiency requirements, application procedures, tuition fees (2018-2019), financial supports and scholarships.

Hong Kong PhD Fellowship Scheme (2018/2019)


Note: Applicants do not need to contact individual professors before applying.


Entrance Scholarships

Scholarships are available for government-funded research students:

  • Postgraduate Studentships (tentative HK$16,200/month for 2017-2018)*
  • Chow Yei Ching School of Graduate Studies Scholarships (HK$60,000)*
  • Research Tuition Scholarship (in the form of an exemption for students from paying tuition fees)
  • Conference Grant (HK$10,000 maximum)*
  • Research Activities Fund (HK$30,000 maximum)*

‚Äč* Subject to revision every year

Awards offered by Department of Economics and Finance

  • The Best Summer Awards to Junior Ph.D. Students (HK$5,000/award)


Current Research Students and Specializations (2017/2018)

Current Research Students Research Specializations Supervisors
CHAN Chao Hung Macroeconomics and Real Estate Economics Dr Charles LEUNG
CHEN Xuikang Real Estate Finance Dr Charles LEUNG
CHEN Xilong Economic Growth Dr TAM Xuan Song /
Dr Charles LEUNG
HE Shi Meta-analysis, International Trade and Macroeconomics Dr Fred KWAN
KASHYAP Ravi Financial Services, Economic Growth, Welfare, and Small & Medium Enterprises Dr WANG Yong
MAN Kwok Leung Ryan Real Estate Economics and Experimental Economics Dr Charles LEUNG
NG Cho Yiu Joe Empirical Asset Pricing Dr Charles LEUNG
OPOKU Eric Evans Osei Economic Growth and Development, International Economics Dr Isabel YAN
RAZA Syed Hassan Development Economics, Macroeconomics  Dr ZHENG Yu /
SHAIKH Zahid Hussain Development Economics Dr Vikas KAKKAR
TIAN Xingdi Dynamic Stochastic General Equilibrium Dr WANG Yong
WANG Tianyu Macroeconomics and Economic Growth Prof CHEUNG Yin-Wong
WANG Wenhao International Finance Prof CHEUNG Yin-Wong


First-Year Research Students Supervisors
CHEN Zhenzhen Dr Fred KWAN
GUO Fei Dr Isabel YAN
HUNG Tsz Hin Ronald Dr Fred KWAN
LIAO Wangnong Dr Fred KWAN
YAN Zeyu Dr LUO Guannan

Exchange Programme

Exchange opportunities are offered to our PhD students to visit the University of California, Santa Cruz.

Research Studies Brochure