Admission Requirements and Procedures
All applicants to the Ph.D. program must have a bachelor’s degree and a minimum overall grade-point average (GPA) of 3.0. An undergraduate concentration in finance or economics is not a prerequisite for admission. The recommended academic background includes course work in finance and economics through intermediate micro and macro, mathematics through one year of calculus, and introductory mathematical statistics.
Admission decisions are determined competitively and do not employ fixed rules. There are a number of factors that influence admission decisions. These include undergraduate GPA; graduate GPA; grades on courses in finance and economics, mathematics and statistics; aptitude scores on the General Management Admission Test (GMAT) or Graduate Record Examination (GRE), particularly the quantitative score; and three letters of reference from persons familiar with the applicant’s academic performance. The finance department provides full financial support for all students offered admission to the program. The average GMAT score of students admitted in the past has been around 700.
Applicants are advised to take the GMAT or GRE early, as there is normally a month’s delay from completion of the exam until receipt of the scores.
Applications for admission and financial support will be considered at any time up to January 15 for fall semester enrollment. You can find the online application at the Ph.D. application page.
Applicants whose native language is not English must complete the Test of English as a Foreign Language (TOEFL) and arrange for submission of the official score to the University of Iowa. A score of at least 600 is required. This requirement is waived for students who have a degree from an accredited U.S. university.
Note: An International English Language Testing System (IELTS) total score of 7.0, with no subscore less than 6.0, may be used to satisfy the TOEFL requirement. All IELTS test-takers will be required to take the
on-campus English Proficiency Evaluation.
All students offered admission to the Ph.D. program are offered financial support. This covers full tuition costs plus a 12-month stipend of around $22,000. Additional scholarships are available for outstanding students.
If you encounter any difficulties in completing your application, send an email to firstname.lastname@example.org.