The PhD program in accounting typically spans four to five years. During the first two years, students engage in rigorous coursework that covers economic and accounting theories, as well as advanced statistical and econometric methods. These foundational courses are designed to equip students with the necessary tools for conducting academic research in accounting. Following the coursework, students transition to the dissertation phase, where they collaborate closely with faculty advisors to develop and pursue original research in their chosen area of interest. The dissertation process typically takes two to three years to complete. Below is a sample course schedule and key deliverables for the first three years of the program.
| Year 1 | Year 2 | Year 3 | |
|---|---|---|---|
| Fall Sem. |
MECO 6345 MECO 7312 ACCT 7323 OPRE 7353 |
ACCT 7210 ACCT 7324 ACCT 7323 ECON 7309 |
ACCT 7210 |
| Spring Sem. |
MECO 6350 MECO 7313 ACCT 7334 |
ACCT 7314 |
|
| Summer Sem. |
Accounting Theory |
BPS 7303 Causal Inference Workshop |
MAS 8v00 |
| Electives |
Minimum one of the following methodology courses:
AND Minimum three of the following breadth courses, with no more than two courses having codes that start with ‘63’:
|
||
| Year 1 | Year 2 | Year 3 | |
|---|---|---|---|
| Req. Work |
Teaching Assistantship |
Teaching Assistantship |
Research Assistantship |
| Deliverables |
Preliminary Exams:
1st Year Summer Paper |
Accounting Qualification Exams:
2nd Year Summer Paper |
Initial Proposal for Dissertation |
Course Descriptions
Advanced Managerial Economics (3 semester credit hours) Advanced economic analysis of consumer theory, production theory, exchange, and market interactions. Managerial topics such as comparable worth, product standardization, environmental spillover effects, and imperfect competition.
Advanced Statistics and Probability (3 semester credit hours) This course introduces probability theory, including the laws of large numbers and the central limit theorem, statistical inference, the properties of empirical estimators, and various methods of hypothesis testing. The course emphasizes deep understanding and theoretical foundations of the core topics of probability theory and statistical inference.
Game Theory (3 semester credit hours) This course introduces the game theory, a set of analytical tools that are used to study the strategic interactions of individuals and institutions. The course covers static and dynamic games, both under complete and incomplete information. Applications include cooperation, price setting under imperfect competition, trust and reputation building, bargaining, auctions, signaling, social preferences, and matching markets.
Optimization (3 semester credit hours) The course covers the fundamentals of optimization theory and introduces linear algebra and real analysis. Topics include the existence of an optimal solution, unconstrained and constrained optima, convexity and quasi-convexity, and linear programming.
PhD Workshop Series (2 semester credit hours) This workshop-based class aims to help Accounting PhD students who have completed the first year in the program hone their research skills and make progress toward writing a dissertation. Students are required to present their own research and serve as discussants and reviewers of other students’ research.
Research on Financial Reporting and Corporate Disclosure (3 semester credit hours) This course covers financial reporting research, including earnings properties (e.g., conservatism, persistence, and comparability), financial reporting choices by firms (e.g., accruals and real activities-based earnings management, non-GAAP reporting, and misstatements), and their determinants and economic consequences. The course also covers corporate disclosure research, including voluntary disclosure choices and the impact of disclosures on the capital market, the product market, corporate investments, and the capital market’s feedback to management.
Foundations of Accounting Research (3 semester credit hours) The first half of the course introduces analytical research in accounting. Topics include accounting information-based valuation models, principal-agent models of moral hazard and adverse selection, and real effects of accounting information. Empirical implications and insights will be emphasized. The second half of the course covers methodologically grounded empirical research design by means of both null hypothesis testing strategies and estimation-driven inference. It focuses on the importance of understanding and conveying the inherent uncertainty attached to such inference in stochastic settings through the critical assessment of existing accounting research efforts. It also addresses the interplay between such methodological understanding and the methods employed in empirical analyses.
Capital Markets Research in Accounting: Asset Pricing Topics and Information Intermediaries (3 semester credit hours) The first half of the course focuses on asset pricing in accounting research, including the relation between earnings and asset prices and the role information intermediaries play in capital markets. We begin the course by examining traditional studies in accounting on the association between firm earnings and firm value. We examine the fundamental relations as well as the different factors that influence this association. We proceed to examine more recent studies in capital markets focusing on aggregate earnings and the relation between earnings and systematic risk. The second half of the course focuses on important information intermediaries in the capital market, including analysts, data providers, news media, and social media. We examine how these intermediaries affect firm behavior and investor information set through monitoring, discovering, disseminating, or interpreting corporate information. We also survey recent papers examining the determinants and implications of corporate (internal and external) information environment.
Corporate Compliance, Debt Contracting, and Financial Intermediation (3 semester credit hours) The first half of the course starts with a comprehensive overview of wealth economics, highlighting the significance of government intervention in business activities. We then delve into the topics at the intersection of accounting and compliance, such as standard setting, enforcement mechanisms, litigation, and the role of corporate compliance and culture. The second half of the course surveys the literature on private debt contracting and financial intermediation. The topics covered include debt contract design, credit market structure, and nonbank lending. Special emphasis will also be placed on emerging themes in private debt research, such as artificial intelligence (AI) and ESG.