Department of Economics & Finance
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. 1 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 March 2018


  • No. 1 in per capita research publications in Economics (Review of International Economics, 2008)
  • No. 1 in International Economics (Review of International Economics, 2009)
  • 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


Jean Baptiste HABYARIMANA Lecturer, University of Rwanda, Rwanda
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
KASHYAP Ravi Assistant Professor, SolBridge International School of Business, South Korea
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
NG Cho Yiu Assistant Professor, The Hang Seng University of Hong Kong, Hong Kong
Opoku Eric Evans Osei Assistant Professor, University of Nottingham Ningbo China
PANG Yu Assistant Professor, Macau University of Science and Technology
RAZA Syed Hassan Assistant Lecturer, Chinese University of Hong Kong, Hong Kong
SO Pik Ki Lecturer, Hong Kong Baptist University, Hong Kong
TANG Chi Ho Assistant Professor, Hong Kong Shue Yan University
TIAN Xingdi Assistant Professor, Southwestern Finance University, China
XIAO Hong Manager, Hong Kong Monetary Authority, Hong Kong
WANG Tian Yu  Senior Executive, Shenzhen Qianhai Authority, China
WANG Wenhao Assistant Professor, Shangdong University of Economics and Finance, China

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 (for cohort 2020 and thereafter)

Year 1   Semester A    EF8070 Advanced Microeconomics
    EF8072 Advanced Macroeconomics
    EF8090 Advanced Econometrics
    1 course (at least 3 credits) from other departments of the College of Business
  Semester B SG8001 Teaching Students: First Steps
    EF8071 Topics in Microeconomics
    EF8078 Topics in Macroeconomics (Course offered in alternate year)
  Summer Qualifying Examination
Year 2 Semester A / B EF8075 Topics in Econometrics (Course offered in alternate year)
    Earn AT LEAST 6 credits from below courses:
    EF5400 Advanced International Trade
    EF5402 Economic Growth and Development
    EF5406 International Finance
    EF8074 Independent Project
    EF8077 Theoretical Asset Pricing
  Summer FB8905 Project (Thesis Proposal Defense)
Year 3 Semester A Con't FB8905 Project (Thesis Proposal Defense)
  Semester A / B FB8914 Doctoral Seminar
    Submission of PhD Thesis


Year 1   Semester A / B SG8001 Teaching Students: First Steps
    EF8070 Advanced Microeconomics
    EF8072 Advanced Macroeconomics
    EF8075 Topics in Econometrics
    EF8090 Advanced Econometrics
Year 2 Semester A / B 1 course (at least 3 credits) from other departments of the College of Business
    Submission of MPhil Thesis


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 (Chow Yei Ching School of Graduate Studies)

It provides information about entrance requirements, English proficiency requirements, application procedures, tuition fees, financial supports and scholarships.

Hong Kong PhD Fellowship Scheme


Applications are accepted throughout the year and will be considered mainly in one admission round. The application deadline for 2024 entry is 1 December 2023 at noon (Hong Kong time or GMT+8 hours) and the application results will be announced in March 2024.

For application procedures, please visit Chow Yei Ching School of Graduate Studies website.

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


Entrance Scholarships

Scholarships are available for government-funded research students:

  • Postgraduate Studentships (Basic Rate: HK$17,800/month for 2023-2024)*
  • Chow Yei Ching School of Graduate Studies Scholarships (to cover student's tuition and on-campus hostel accommodation fees in first year of study)
  • 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)*

​* Subject to revision every year

Awards offered by Department of Economics and Finance

  • The Best Summer Paper Awards to Junior Ph.D. Students (HK$5,000/award)
  • EF PhD Studentship Extension Sponsorship (maximum 10-month studentships during extended study period) (subject to funding and approval)


Current Research Students and Specializations (2023 cohort and before)

Current Research Students Research Specializations Supervisors
ASAANA Clement Agonyim International Economics Prof. Vikas KAKKAR
ASEFA Anteneh Bizualem TBC Prof. TAM Xuan Song
GUAN Ziyi TBC Prof. XU Wenji
HONG Yulin Macroeconomics Prof. ZHOU Ying
HONG Zi Yi International Economics/ International Trade Prof. TAM Xuan Song
LI Jinze Econometrics Prof. HAN Xu
LI Tian Xiang Microeconomics Prof. LI Yunan
LI Yuefei Human Capital and Economic Growth Prof. TAM Xuan Song
LIU Chang International Trade Prof. HUANG Hanwei
LIU Jinfeng Development Economics and Applied Econometrics Prof. Isabel YAN
LONG Zhong Microeconomics Prof. LI Yunan
MA Ming Hui  Development Economics Prof. HAN Xu
NIE Xiaojie Development Economics Prof. TAM Xuan Song
PENG Yufei TBC Prof. Isabel YAN
SONG Jiansheng Microeconomic Theory  Prof. XU Wenji
TANG Yunjie Real Estate Economics (the Chinese Housing Market and Property Tax Reform) Prof. TAM Xuan Song
WANG Qiu Shi Macroeconomic Theory, Inequality and Chinese Economy Prof. QIU Zhe Sheng
YE Zinan Macroeconomics and Income Inequality Prof. QIU Zhesheng
YU Yuyuan International Trade Prof. HUANG Hanwei
ZHANG Changchuan Macroeconomics and Monetary Economics Prof. ZHOU Ying


Exchange Programme

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