Topics in Finance - 5 ECTS

Course Coordinator: Niels Joachim Gormsen
 
 
Faculty
 
Niels Joachim Gormsen (NJG), Department of Finance
 
 
 
Prerequisites
 
Participants are expected to:
- Be enrolled in a PhD programme in finance, economics, accounting, or a closely related field.
- Have completed MSc-level courses in asset pricing and corporate finance.
- Have basic training in econometrics (e.g. panel data methods, instrumental variables; familiarity with regression-based empirical work).

Upon acceptance, participants are asked to submit a 2 page note including:
- A short description of their PhD project (or project idea)
- The current stage of their project
- How they hope to relate their project to one or more topics in the course

The note should be submitted before the first class via email (details will be provided upon acceptance).
 
 
Aim
 
The aim of the course is to expose PhD students to a selection of current research topics in modern finance and to help them develop a research profile and job market paper. The students will learn to position and develop their own research projects within the literature. The course emphasizes both conceptual understanding and methodological rigor, and supports participants in formulating and refining their own research ideas.
 
 
Content
 
The course covers a selection of frontier topics in finance. The topics may vary by year.

Each session is built around a small number of recent research articles from leading journal in economics and finance.
 
 
Teaching methods
 
Teaching methods include:
- Short lectures introducing each topic and its main theoretical and empirical issues
- Student presentations of selected papers and short research proposals
- Group discussions and peer feedback on research proposals and research designs
 
Students are expected to actively participate in discussions and to read the assigned papers carefully in advance of each session.
 
 
Lecture plan 
 
Time and place (Rooms TBA) Topic
Class 1: Monday March 9
11.30 to 12:20 and 12:30 to 13:20.
 Introduction to class, overview of topics, how to write a job market paper
Class 2: Monday March 16
11.30 to 12:20 and 12:30 to 13:20
 Intangible capital
Class 3: Monday March 23
11.30 to 12:20 and 12:30 to 13:20 
 Causal inference and counterfactuals in asset pricing 
Class 4: Monday March 30
11.30 to 12:20 and 12:30 to 13:20 
 Subjective beliefs and behavioral finance
Class 5: Monday April 13
11.30 to 12:20 and 12:30 to 13:20 
 Convenience yields
Class 6: Tuesday April 21
11.30 to 12:20 and 12:30 to 13:20 
 Secular trends in finance
Class 7: Monday April 27
11.30 to 12:20 and 12:30 to 13:20
 International finance
Class 8: Monday May 11
11.30 to 12:20 and 12:30 to 13:20 
 Geopolitics
Class 9: Monday May 18
11.30 to 12:20 and 12:30 to 13:20 
 Fintec and developments in the banking sector
Class 10: Monday May 25
11.30 to 12:20 and 12:30 to 13:20 
 Monetary policy transmission through banks and firms
Class 11: Monday June 1
11.30 to 12:20 and 12:30 to 13:20 
 Monetary policy and asset prices
Class 12: Monday June 8
11.30 to 12:20 and 12:30 to 13:20 
 Cost of capital and real effects of asset markets
 
Participation is expected to be in person - no online option.
 
 
Learning objectives 
 
After completing the course, participants should be able to:
1. Explain and critically assess key theories and empirical results in selected areas of modern finance.
2. Evaluate recent research articles in terms of identification strategies, modeling choices, and robustness of results.
3. Identify open research questions and feasible extensions within specific finance literatures.
4. Relate the topics and methods covered in the course to their own PhD projects and research designs.
 
 
Course Literature
 
A detailed reading list will be provided on Canvas before course start. It will consist primarily of working papers and journal articles.
Typically, 2–3 core papers will be assigned per session, plus suggested optional readings for interested students.
 
 
Language
 
English  
 
 
Maximum no of participants
 
20
 
 
Contact information
 
For the content: Niels Joachim Gormsen ( njg.fi@cbs.dk ) 
For the administration of the course: Bente S. Ramovic (bsr.research@cbs.dk )  
 
 
Location and time
 
Please see Lecture Plan
 
 
ECTS
 
5
 
 
Exam
 
Type of exam: Individual written course paper (pass/fail).
Format: <3 written pages (excluding references and appendices).
Content: Review and suggested extension of one of the core papers in the course.
Deadline: Approximately 4 weeks after the last teaching session (exact date to be agreed when the timetable is finalised).
Assessment: Pass/fail.
 
Attendance, class presentation, and a passed exam are required to obtain the course diploma and ECTS credits.
 

Registration deadline and conditions

The registration deadline is 9 February 2026. If you wish to cancel your registration, it must be done by this date. By this deadline, we determine whether there are enough registrations to run the course or decide who should be offered a seat if we have received too many registrations.

If seats are still available, we will extend the registration deadline to fill the remaining spots. Once you receive our acceptance/welcome letter, your registration becomes binding, and no course fee refunds will be issued. The binding registration date is the deadline mentioned above.
 
 
Payment Methods
 
Ensure you choose the correct payment method when finalizing your registration:
 
CBS students:
Select the payment method CBS PhD students. The course fee will be deducted from your PhD course budget.
 
Students from Other Danish Universities: 
Select the payment method Danish Electronic Invoice (EAN). Provide your EAN number, attention, and any relevant purchase (project) order number.
If you do not pay via EAN number, select Invoice to pay via electronic bank payment (+71).
 
Students from Foreign Universities:
Select the payment method Payment Card. If you are unable to pay by credit card, choose Invoice International to pay via bank transfer.
 
 
Please note that your registration is binding after the registration deadline

Information about the Event

Date and time Monday 9 March 2026 at 12:30 to Monday 8 June 2026 at 13:20

Registration Deadline Monday 9 February 2026 at 23:55

Location Solbjerg Plads - see schedule for room location
Solbjerg Plads 3
Frederiksberg
DK-2000

Organizer

Bente Ramovic, CBS PhD School
Phone +45 3815 3138
bsr.research@cbs.dk

Event Location

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About CBS PhD School

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Event Location

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About CBS PhD School