Overview

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 Doctoral program in Decision, Risk and Financial Sciences at the University of Melbourne 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.

Where will this take me?

The Melbourne Business School Doctoral program prepares graduates for research and teaching careers at top-ranked educational institutions and for careers where world-class research and advanced analytical skills are necessary.

Programme Structure

Key areas of study include:

Individual decision-making: Experimental investigation of the neurobiology of decision-making and learning (decision neuroscience), with a focus on decisions in the presence of risk (e.g., extreme events) and complexity (e.g., combinatorial problems); human-robot interaction in financial decision-making (e.g., robo-advisors).

Group decision-making: Experimental investigation of decision-making and learning in small groups.

Financial markets: Experimental investigation of decision-making in financial markets (experimental finance), e.g.: emerging intelligence through markets; dark markets; algorithmic trading; human-robot interaction in markets; combinatorial double-sided markets.

Development of software: online double-sided markets platform; app development with interactive games/tools needed to overcome cognitive biases.

Key information

Duration

Full-time
- 60 months

Start dates & application deadlines

Starting 2027-07-27 00:00:00
- Apply before 2027-03-31 00:00:00 , International

Language

English

TOEFL^® IBT

79

Schedule TOEFL®

PTE Academic

64

Schedule a PTE test!

IELTS

6.5

Prepare for Your English Test

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Credits

200 alternative credits

Delivered

On Campus

Campus Location

Melbourne, Australia

Disciplines

Finance Insurance

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Academic requirements

We are not aware of any specific GRE, GMAT or GPA grading score requirements for this programme.

English requirements

TOEFL^® IBT

79

Schedule TOEFL®

PTE Academic

64

Schedule a PTE test!

IELTS

6.5

Prepare for Your English Test

Cathoven AI IELTS Preparation

Learn your IELTS Score

AI-powered IELTS feedback. Clear, actionable, and tailored to boost your writing & speaking score. No credit card or upfront payment required.

Trusted by 300k learners
98 accuracy using real exam data
4.9/5 student rating

Other requirements

General requirements

Previous academic transcripts, including evidence of completions if applicable.

Evidence of English language requirements

GMAT/GRE score sheets

Curriculum Vitae. A current CV outlining your all complete and incomplete academic qualifications and work experience, and details of any research publications (if relevant).

Student Insurance via Studyportals Partner

Make sure to cover your health, travel, and stay while studying abroad. Even global coverages can miss important items like Additional medical costs, Repatriation, Liability etc. Make sure your student insurance covers your needs.

Studyportals partnered with Aon to provide you with the best affordable student insurance, for a carefree experience away from home.

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Starting from €0.53/day, free cancellation any time.

Remember, countries and universities may have specific insurance requirements. To learn more about how student insurance work at University of Melbourne and/or in Australia, please visit Student Insurance Portal.

Tuition Fees

Tuition fees are shown in and the most likely applicable fee is shown based on your nationality.

International Applies to you

Applies to you

Non-residents

56992 AUD / year

≈ 56992 AUD / year
Domestic Applies to you

Applies to you

Citizens or residents

Free

Additional Details

Australian Government Research Training Program (RTP) funded: eligible domestic students are exempt from paying tuition fees.

Living costs

Melbourne

Australia

1501 - 2659 AUD / month

The living costs include the total expenses per month, covering accommodation, public transportation, utilities (electricity, internet), books and groceries.

Funding

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Scholarships Information

Below you will find PhD's scholarship opportunities for Decision, Risk and Financial Sciences.

Available Scholarships

You are eligible to apply for these scholarships but a selection process will still be applied by the provider.

About

Overview

Where will this take me?

Programme Structure

Key information

Duration

Start dates & application deadlines

Language

Prepare for Your English Test

Credits

Delivered

Campus Location

Disciplines

What students do after studying

Academic requirements

English requirements

Prepare for Your English Test

Other requirements

General requirements

Student Insurance via Studyportals Partner

Tuition Fees

International Applies to you

Domestic Applies to you

Additional Details

Living costs

Melbourne

Funding

Scholarships Information

Available Scholarships

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