March 2008
The combined fields of
econometrics and financial economics represent one of the most attractive areas
in the discipline of economics, with excellent academic job opportunities in
economics departments, business schools, as well as Federal Reserve banks and
the financial services industry. Faculty members in this area of study are very
committed to preparing students adequately to take advantage of these excellent
employment opportunities.
Most of the activity and
training takes place in the Monday Lunch group. First year students are more
than welcome to attend on Mondays in order to get a feel for what goes on. Before doing so, however, it is advisable to
contact either Professors Tauchen or Bollerslev by e-mail.
Interested students can
enroll in Economics 385F starting either spring of the first year or fall of
the second year of graduate study at Duke. They should definitely plan to attend
the Monday lunch in the summer between the first and second years.
The program of study and
general expectations are as follows:
1.
Course grades:
Students are expected to perform well in both semesters of the first year PhD
courses in Microeconomics, Macroeconomics, and Econometrics, and to earn good
grades in the second and third year courses in Time Series Econometrics (ECO
350), Financial Econometrics (ECO 349), and Computational Economics (BA
591).
2.
Field Examinations: Continuing students must satisfy the Department's requirements for a
Major Field in Econometrics by January/February of the second year, and they must attempt and pass the
Financial Economics field exam offered by the Finance Department of Fuqua in
May of the second year.
3.
Attendance at meetings of the Monday Lunch: Attendance is
always expected, but of course, valid excuses for absence are illness, a
TA/teaching time conflict, participation in another conference or meeting
related to the focus of the Monday group, and job market activity. Students with an excused absence should send
Professor Tauchen an e-mail in advance stating the reason for the absence.
4.
PhD Prospectus examination: This exam must be completed either fall of the third
year or no later than spring break of the third year. Note that the deadline is
slightly tighter than the departmental deadline.
5.
Registration:
Duke Economics students must register for both the Monday Lunch group and the
Thursday Econometrics Seminar. The Monday Lunch Group continues to meet throughout
the summer, although formal registration for Duke students
is required only in the fall and spring semesters.
6.
Years 3 and higher: Students work with the faculty and other students in the group to
complete the thesis in a timely manner. Substantial faculty guidance and
mentoring is available for committed students.
PhD students from Fuqua,
other Triangle-Area universities, or other universities may attend. The registration requirements for non-Duke
students are normally waived, but the continued participation at both the
Monday Lunch group and the Econometrics Workshop are expected. Students from
the