Doctoral Program in Decision, Risk and Financial Sciences
What is it about?
The Doctoral program in Decision, Risk and Financial Sciences at the University of Melbourne in the Department of Finance provides training in the conceptual principles and research techniques across the social, biological and mathematical sciences fields that analyse human decision-making and problem-solving in the context of risk and complexity at individual and market levels. Students will draw on experimental methods and conceptual principles to deliver solutions to key research questions relating to decision-making, risk and financial sciences.
The program is made up of a 2-year Master of Commerce coursework program followed by a 3-year PhD.
Generous scholarships (full fee waivers and a stipend of AUD$30,000 per year) are available for high-performing applicants through the University of Melbourne.
Top-up funding of AUD $10,000 available for research, experiments and conferences during the research phase of the program.
Training is provided by leading researchers from the Faculty of Business and Economics, the Faculty of Medicine, Dentistry and Health Sciences, the Florey Institute of Neuroscience and Mental Health, and the Melbourne School of Engineering. It includes two lab rotations in labs at the University of Melbourne or elsewhere.
After the coursework phase, students will conduct their research projects in a lab at the University of Melbourne, such as the Brain, Mind and Markets Lab. Research projects can span multiple disciplines and labs.
The program is located in Parkville, one of the largest precincts for biomedical research in the world, which provides access to cutting-edge research facilities, including state-of-the-art biomedical imaging platforms.
The Faculty of Business and Economics also has excellent relationships with industry and government, and the program encourages students to conduct research in collaboration with private and public sector partners.
Our Parkville campus is a city within a city. With cafes, 12 libraries, gyms, specialty stores, a small supermarket, and even a seasonal farmers market, you’ll never have to leave. The Parkville campus is situated within a renowned knowledge precinct, which includes eight hospitals, many leading research institutes and a wide range of knowledge-based industries.
Application Processing Time in Days: 20
Minimum English Language Requirements
|English Level Description||IELTS (1.0 -9.0)||TOEFL IBT (0-120)||TOEFL CBT (0-300)||PTE (10-90)|
|Extremely Limited||< 4||< 31||< 93||< 30|
Job Opportunity Potential
The University of Melbourne runs a twice-annual mentoring programme that brings students together with alumni mentors who guide them through the career decision-making process.
Faculty-specific resources assist students in finding the most relevant careers advice for them. Students are also able to take self-assessment tests to help them determine which occupation is most suited to them.
We run workshops, one-on-one sessions, and student mentoring programs to give you the advice you need, when you need it.
Get one-on-one support
The Careers and Employability Studio has gone virtual. Book in for an appointment with a career adviser.
Attend a workshop or session
We run a range of workshops, seminars and events to help support your skill development and employability.
About Careers and Employability
We provide you with the resources, support, and tools you need to achieve your career goals. Learn about our approach to employability and careers.
When you start university you may already know which career path you’d like to pursue. Or, you might be exploring your unique interests, passions, and opportunities.
No matter which category you’re in, career development starts from your first day at university. Career development doesn’t happen overnight. It takes time to develop a greater awareness of who you are and what you want to achieve.
At the University of Melbourne, career development is a journey that involves:
- Understanding and reflecting on your motivations and preferences, current skills and knowledge gaps
- Researching potential opportunities that help you develop meaningful, industry-relevant experiences
- Goal setting and deciding on what career success means to you
- Seeking and applying for roles that align with this vision.
- During this process, your ability to understand and apply your knowledge will be critical in making successful career decisions. We have dedicated career advisers who can guide you through this career development journey.
What are employability skills?
Employability skills are more than just your ability to land a job. They cover your attitude, personal qualities, and transferable skills (e.g. teamwork and communication).
These skills are valued regardless of the role or industry you’re interested in—and understanding their importance can help you succeed in your career and beyond.
Our aim is to help you develop these skills so you can progress professionally in the workforce and community.
How we can help you
We provide online and in-person services: from one-on-one guidance, to learning modules, on campus workshops, and more.
We support you to:
- Understand the possibilities open to you during and after your time at university
- Design your career by understanding where your degree can take you, and guide you on what experiences will help you gain future employment
- Identify your skills and how they apply to actual jobs in the industry you’re interested in
- Find opportunities via our online jobs board and our employability programs
- Connect with employers and professionals through our mentoring programs and industry networks
- Navigate the job application process so your cover letter, resume, and interview style sets you up for success.
- Our services are available to all current undergraduate and graduate University of Melbourne students.
- 2 years of PSW post completion of a minimum 2 year Degree or post-completion of a packaged Degree for 2 years.
Admission Requirement / Eligibility Criteria
Elligibility Requirement into Ph.D.:
- To take part, you must be enrolled in a Ph.D. at the University of Melbourne. Your thesis topic must relate to the Ph.D. Program theme.
- When you join a Ph.D. Program, you will remain enrolled in your current department.
- You can join a Ph.D. Program at any time during your candidature. You will remain part of the program until you complete your doctoral studies.
TOEFL – you need a score from a minimum of 577+ including a score of at least 4.5 in the Test of Written English for a paper-based test. Or a score of at least 79 and scores of at least 21 for writing, 18 for speaking, 13 for reading, 13 for listening for an internet-based test.
IELTS – you need a score from a minimum of 6.5 or more in the Academic International English Language Testing System (IELTS), with no bands less than 6.0.
Pearson Test of English – you need an overall score from a minimum between 58-64 inclusive and achieve no PTE communicative skills score below 50.
Cambridge English, Advanced/Certificate in Advanced English (CAE) – you need a Cambridge English Score from a minimum 176 with no skill below 169.
- Course Code: 056955G, 092761G
- Course Type: Full Time
- Course Level: Doctoral Degree/PhD
- Duration: 05 Year
Total Tuition Fee:
Annual Cost of Living: 21041 AUD
Application Fee: 100 AUD
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