PhD in
Economics and Finance
This PhD programme is jointly run by the Universities of Trento and the Free University of Bozen-Bolzano.
Course description
The programme draws on the expertise of faculty members from two universities, the University of Trento and the Free University of Bolzano providing advanced training in these areas.
This 3-year full-time PhD programme includes six months of mandatory courses as well as individualised training depending on the specific research interests and objectives of the PhD student as recommended by the supervisor. Topic-specific individual tutoring and mentoring, as well as funding for research stays abroad are special components of our programme.
PhD students will be introduced to specific research areas of the faculty, including Economic Policy Analysis, Financial Markets and Regulation, and Quantitative Methods and Analysis of Big Data and be involved in research projects in these and other areas. Our international faculty provides a variety of research opportunities, examples are outlined in the table of research topics.
In collaboration with:
In collaboration with:
At a glance
Duration of the programme: 3 years
Courses will be taught in English
Places available: 8 with scholarship + 1 without scholarship
Scholarships awarded per year 28,000 €
Campus: Bozen-Bolzano and Trient-Trento
Stay abroad: 4 to 6 months stays at renowned research institutions
Programme structure
The PhD consists of a taught component and supervised individual research. It is designed to be completed in three years.
In the first half of the first year, students dedicate 100% of their time to coursework and seminar attendance.
The first semester of the programme is dedicated to common core of 172 hours of compulsory courses aimed at developing a strong background in three key areas:
- Quantitative and Statistical Methods (Quant)
- Economics (Econ)
- Finance (Fin)
For example, the Quant block will include courses such as Advanced Econometrics, Machine Learning for Econometric Applications, and Methods and applications for Empirical Economics. The Econ block will cover Economic Theory and Behavioral and Experimental Economics, while the Fin block will focus on Mathematical and Empirical Finance.
Teaching activities combine in-person lectures and seminar attendance designed to encourage active student participation. Students will complete the hours of training mainly during the first year of the PhD programme.
At the end of the core training phase, PhD students are expected to decide on their thesis supervisor and research topic. These sessions are coordinated by the research groups affiliated with the members of the Academic Board at their respective universities, ensuring a strong link between education and active research.
Over the next two and a half years, students dedicate almost all their time to research while attending specific workshops, summer schools, or seminars related to their research project. They will be expected to produce three research papers, one of which can be a literature review or extension of prior research. In September of each year, students will discuss their research in progress in front of the academic board. There will also be a formal evaluation of their suitability for progressing to the next year. In February of their second and third year, there will also be an additional presentation to receive feedback on work in progress.
Students are also required to spend at least 3 months visiting a foreign university or research centre as part of their training.
PhD Stages
The PhD programme unfolds in three main stages:
- Foundational Training (Year 1 - First Semester)
Students complete 172 hours of advanced coursework, building a solid foundation in quantitative methods, economics, and finance. - Research Orientation (Year 1 - Second Semester)
Students identify their thesis supervisor and define their research topic, guided by the Academic Board and affiliated faculty. - Independent Research and Thesis
In the following years, PhD candidates focus on their individual research projects, contributing original work to their field and preparing their thesis for defence.
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Studying at unibz
Living in South Tyrol, Housing, Scholarships and more
Coming to unibz from Abroad
Application procedure, Visa, Residence permit and more
Student Mobility
As an integral part of the PhD programme, students are required to spend at least 3 months abroad at a university or research institution of their choice. This international experience allows PhD candidates to broaden their academic horizons, access new research environments, and build global collaborations within their field of study. The mobility period is fully recognised as part of the programme and is designed to strengthen both the scientific quality of the doctoral research and the international profile of each student. Our faculty members collaborate with colleagues at various prestigious universities and have established with research groups and institutes, such as the IZA Institute of Labor Economics and CESifo. Our previous PhD students have visited institutions as Autonomous University of Barcelona, BI Norwegian Business School, University College London, Princeton University.
People
PhD Programme Coordinator: Prof. Steven Stillman (photo)
Student Representative in the Lecturer's Committee: Chiara Gastaldi
Application and Admission
You can find key information to apply and gain admission to this PhD Programme in the general and specific calls published below (PDF).
In order to gain admission to the PhD programme, you will have to demonstrate competence in the languages of the PhD programme with a recognised language certificate and be successful in a public competition.
1st Call
Publication of the call: 09/03/2026
Application deadline: by 21/04/2026 (by noon local time)
Admission interviews (online): to be defined
Publication of ranking lists: by 05/06/2026
Confirmation of the PhD position - 1st Call
Applicants with scholarship: by 18/06/2026 (by noon local time)
Applicants without scholarship: from 19/06 until 03/07/2026 (by noon local time)
Enrolment: Starting from 19/06 until 30/10/2026 (by noon local time)
Total Positions: 9
1st Call
Positions with scholarships: 8
Positions without scholarships: 1
We encourage applications from students interested in all areas of economics and finance. Preference will be given to applicants interested in areas listed in the research profile of the Lecturer’s Committee members as well as other economics and finance professors in both universities.
1st Call
At this link you can find a list of potential research projects and their corresponding proposed supervisors.
In order to apply to this programme you need one of the following qualifications:
- a postgraduate degree as per Italian Ministerial Decree no. 509/1999
- a postgraduate degree as per Italian Ministerial Decree no. 270/2004
- a degree of the former Italian university system, or an equivalent degree obtained abroad (university level education of at least five years).
If you have not yet achieved one of the above mentioned titles within the enrolment deadline, you will be admitted conditionally to the selection procedure and you must produce the degree certificate within the enrolment’s deadline. If not, your application is considered null and void.
Prerequisites for admission to the doctoral programmes are an appropriate educational and/or cultural background and/or experience in the research. Qualifications in the field of interest of the PhD programme are preferred.
The Commission reserves the right to decide and to assess whether or not previous qualifications are suitable for admission purposes.
Applicants whose previous high school or university degree was not taught entirely in English must document their language skills by presenting a language certificate (minimum level C1), such as TOEFL, IELTS or the First Certificate in English (grade "A") - recognised by the Language Centre of the Free University of Bozen-Bolzano.
Knowledge of English may also be demonstrated by qualifications (secondary school/bachelor/master) related to a programme held in English. In this case, Italian and EU candidates must declare this on the application portal.
Non-EU citizens must upload a copy of their diploma and any additional documentation indicating the language of instruction related to the foreign qualification. Candidates demonstrate their language proficiency in the application portal (in the section “upload language certificates” and/or “enroll for language exams”) after they have created an application in the section “create/manage applications”.
Applications to the selection procedure can be submitted from the date of the announcement of the public competition.
Each application is subject to a payment for administrative expenses (50 €). This registration fee cannot be reimbursed under any circumstances.
In order to apply, you need to follow these steps:
- Create an account at Application Portal and upload in electronic format a passport-size colour photo and a valid ID (passport or identity card, front/back);
- In the application portal, select the PhD programme and pay the registration fee of 50 € (see instructions in the portal);
- Fill in the online form in the same portal and upload the additional required documents (see the specific attachments to the call for each PhD programme).
Completing the application online is the only way to submit the application. Applications will not be considered if:
- incomplete or without compulsory entry qualifications/requirements;
- sent by e-mail.
It is necessary to upload the required documentation for each PhD programme chosen in the portal. A traffic light system indicates complete/incomplete documentation (missing documents will be marked in red).
Only documents uploaded by the deadline will be evaluated. It is advisable to apply online well in advance and to check the portal regularly to take note of any notes concerning missing and/or incorrect documents.
After the deadline, it will no longer be possible to complete/correct incomplete applications.
The University is not liable if the portal is overcharged, due to the net or to the software itself.
To apply to the PhD programme, applicants must include the documentation listed below. Incomplete applications will be excluded from the competition.
In case of an Italian university degree:
- The Diploma Supplement relating to the “laurea specialistica” / “laurea magistrale”, or a self-declaration including the list of examinations taken (if the degree has already been awarded) or a self-declaration in lieu of the transcript of records (if the degree has not yet been awarded);
- The Diploma Supplement relating to the qualification that granted access to the “laurea specialistica” / “laurea magistrale”, or a self-declaration in lieu of the relevant degree certificate.
In the case of a “laurea del previgente ordinamento” or “laurea magistrale a ciclo unico”:
- The Diploma Supplement relating to the degree, or a self-declaration in lieu of the degree certificate, including the list of examinations taken (if the degree has already been awarded) or a self-declaration in lieu of the transcript of records (if the degree has not yet been awarded).
In the case of a foreign university degree:
- The Diploma Supplement or degree certificate relating to the master’s qualification, including the list of examinations taken (if the degree has already been awarded) or a transcript of records (if the degree has not yet been awarded), in Italian, German or English;
- The Diploma Supplement or degree certificate relating to the previous bachelor’s qualification, including the list of examinations taken, in Italian, German or English.
In the case of a foreign long single-cycle degree (i.e. an undivided degree programme entered directly after secondary school and leading to a qualification giving access to doctoral studies):
- The Diploma Supplement or degree certificate relating to the qualification that gives access to the PhD programme, including the list of examinations taken (if the degree has already been awarded) or a transcript of records (if the degree has not yet been awarded), in Italian, German or English.
The above must contain the following information: final grade, exams passed with grade and date of passing, credit points, scientific fields (the latter only for Italian titles), university where the degree was or will be awarded and date of graduation. unibz reserves the right to request a description of the contents of the single courses and/or teaching hours where necessary.
In the application portal applicants applicants must upload:
- Language certificate for English: if certificates were issued by Italian public institutions, a self-declaration must be uploaded in the portal. If certificates were issued by foreign public institutions, a scanned copy of the original certificate must be uploaded in the portal.
- Curriculum vitae (CV) in English (possibly following the EU format that can be downloaded here). The CV must be updated with all data and information of the current year.
- Two letters of reference, written in English by a university lecturer or researcher from a research institute, in which the work carried out and the quality of the same is described.
- A short statement of purpose in English (maximum 500 words), outlining the reasons for undertaking doctoral research and, in particular, for applying for the PhD programme in Economics and Finance at the University of Bozen-Bolzano and the University of Trento.
- A research proposal (in English in PDF format, max. 1,200 words plus bibliography, tables, graphs, if applicable;), which is scientifically rigorous and highlights the applicant's particular research interest and possible research questions as well as conceptual and methodological approaches. The illustrated research statement does not necessarily represent the research to be developed during the PhD;
- A list of publications if relevant; preferably with respective links to the full text. Certificates of special courses or awards and special achievements of relevance with regard to the PhD programme.
- Payment of the registration fee for the selection procedure.
All documents must be submitted in English (including copies of official certificates if they are in languages other than English, German, or Italian), otherwise the applicant will be excluded from the evaluation and selection process without further consultation.
Other documents/qualifications (recommended, if applicable)
- Certificates of special courses or awards and special achievements of relevance with regard to the PhD programme, or any other document that provides evidence of the qualifications necessary to successfully participate in our joint PhD programme.
The selection procedure takes place in two stages:
Stage 1
Evaluation of the candidates' scientific qualification and suitability based on written documents (qualifications) (max. 70 points).
The selection committee examines and evaluates the following elements:
a) Qualifications: scientific proximity of the qualification to the PhD and final mark or average of the examinations taken for applicants not yet in possession of a Master's degree or similar - up to a maximum of 5 points.
b) Statement of purpose and CV: coherence of the applicant's profile with the scientific fields relevant to the PhD - up to a maximum of 25 points.
c) Quantity and quality of scientific publications and/or research-related work experience (only those that match the subject content of the PhD programme in Economics and Finance will be considered), if this represents added value for the PhD programme and the targeted research area - up to a maximum of 5 points.
d) Comprehensive evaluation of the curriculum vitae and letters of reference. If the candidate has a very good GMAT or GRE test (not older than five years), it will be credited here - up to a maximum of 20 points.
Candidates who do not reach the threshold of 35 points (out of 55 points) regarding the evaluation of criteria a) to d) are declared ineligible at this stage and their research statement is not evaluated.
e) Evaluation of the research proposal by the members of the admissions committee consists of assessing its formal correctness and terminological accuracy, its consistency with the programme’s research topics, the clarity of its logical and argumentative structure, the originality of its design, and its scientific quality and independence – up to a maximum of 15 points
Candidates who reach at least 45 out of max. 70 points in the assessment of criteria a) to e), including at least 10 points for the assessment of the research proposal under e), will be admitted and invited to the personal interview.
Stage 2
The further assessment of applicants' qualifications and their aptitude as researcher is based on a personal interview (oral examination) – up to a maximum of 30 points.
During the interview, the selection committee will assess the following elements in particular:
- aptitude for research;
- argumentative capacity in relation to the theoretical and methodological hypotheses of the research project presented.
The final score is made up of the sum of the scores obtained in the assessment of the documentation and interview. Applicants and candidates who have obtained at least 65/100 points will be eligible. If two or more applicants have equal merit, the younger applicant will be given priority.
The final rankings will be published here. Such publication has the value of official communication. No individual communication will be made.
To create an application in the portal you need to pay the following fees:
- Administrative fees: € 50
To confirm your study place, you need to log in to the application portal and pay the following fees using one of the payment methods indicated on the portal by the specified deadline.
- One-off registration fee: € 200, including a € 16 revenue stamp
If you fail to meet this deadline, you will automatically lose your place. Once you have confirmed your place by paying the instalment, there is no refund of tuition fees unless you are a non-EU applicant living abroad and you have not received the necessary documents from the Italian authorities in your country.
There are no other fees to be paid.
1st Call
CALL GENERAL PART (PDF): EN – IT – DE
CALL SPECIFIC PART (PDF): EN – IT – DE
Corrigendum:
In the english version of the general section of the call, Article 4, paragraph 9, due to a material error, the sentence:
“In the case of an Italian university degree
the Diploma Supplement relating to the “laurea specialistica” / “laurea magistrale”, or a self-declaration made pursuant to Presidential Decree No. 445/2000 in lieu of the degree certificate, including the list of examinations taken (if the degree has already been awarded) or a transcript of records (if the degree has not yet been awarded);”
is amended as follows:
“In the case of an Italian university degree
The Diploma Supplement relating to the “laurea specialistica” / “laurea magistrale”, or a self-declaration made pursuant to Presidential Decree No. 445/2000 in lieu of the degree certificate, including the list of examinations taken (if the degree has already been awarded), or in lieu of the transcript of records (if the degree has not yet been awarded)”
In the english version of the general section of the call, Article 4, paragraph 9, due to a material error, the sentence:
“In the case of a “laurea del previgente ordinamento” or “laurea magistrale a ciclo unico”:
The Diploma Supplement relating to the degree, or a self-declaration made pursuant to Presidential Decree No. 445/2000 in lieu of the degree certificate, including the list of examinations taken (if the degree has already been awarded) or a transcript of records (if the degree has not yet been awarded).
is amended as follows:
“The Diploma Supplement relating to the degree, or a self-declaration made pursuant to Presidential Decree No. 445/2000 in lieu of the degree certificate, including the list of examinations taken (if the degree has already been awarded) or a self-declaration in lieu of the transcript of records (if the degree has not yet been awarded)”.
For further questions contact us by phone at+39 0471 012800 or send us an e-mail: phd@unibz.it
Visiting PhD students and sabbatical stay
The Faculty of Economics and Management at unibz and the Department of Economics and Management at UniTrento may accept PhD students from other universities who would like to undertake a short period of research (i.e., up to four months). We ask for your understanding that we are not able to accept all students who make an application to visit the Faculties and therefore need to be selective based upon qualifications and mutual fit of the research interests.
To facilitate your application and ensure we can manage our limited resources effectively, prospective visiting PhD researchers need to find and contact a Collegio member, who is working in the same research area and willing to host the applicant. The host will forward the complete application (CV; purpose and research objective of the stay; topic of a research seminar to be provided at the beginning of the visit) together with a recommendation for approval to the PhD Collegio.
In preparation for your visit with us, neither the Faculty of Economics and Management of unibz nor the Department of Economics and Management of UniTrento are able to provide access to Italy or any other secure data to visitors or visiting students. If you require this service, please contact your home institute, as they will be required to provide such access. Both faculties also recommend that you bring your own laptop with the required software.