Program Overview

J.D.-Ph.D. in Finance Program

The J.D.-Ph.D. in Finance program is a unique offering between Yale Law School and Yale School of Management, designed for students interested in teaching business law. This program enables students to complete all requirements for both degrees in a streamlined manner, providing them with the analytical tools needed to conduct empirical research on business law questions.

Program Overview

The program is tailored for students who aim to teach business law, offering a comprehensive education that combines the strengths of both Yale Law School and Yale School of Management. By integrating the study of law and finance, students gain a deep understanding of the complex interactions between legal frameworks and financial markets.

Program Alumni

• Dhruv Aggarwal (J.D. ’21/Ph.D. ’23), Assistant Professor of Law and Assistant Professor of Finance (Courtesy), Northwestern Pritzker School of Law
• Aslihan Asil (J.D. ’21/Ph.D. ’25), Assistant Professor, Duke University School of Law
• Quinn Curtis (J.D. ’09/Ph.D. ’11), The Honorable Albert V. Bryan Jr. ’50 Research Professor of Law and Associate Dean for Curricular Programs, University of Virginia School of Law
• Ofer Eldar (J.S.D. ’14/Ph.D. ’16), Professor of Law, University of California Berkeley School of Law
• Belisa Pang (J.D. '23/Ph.D. '25), Assistant Professor, the University of Michigan Law School
• Adriana Z. Robertson (J.D. '15/Ph.D. '17), Donald N. Pritzker Professor of Business Law, the University of Chicago Law School

Current Students

• Matthew Bondy is interested in public finance, currently working on projects related to the economics of crime and universal basic income.
• Adam Callister researches the incentive structures of the U.S. securities fraud system, as well as the regulation of information disclosure and market participation, using modeling and natural language data.
• Benedict (Mujin) Choi holds a J.D. from Yale Law School, with Ph.D. research focusing on tax, corporate finance, and central banking.
• Pranjal Drall is interested in the intersection of law and finance, including business organizations, corporate finance, and bankruptcy, with a particular focus on environmental issues.
• Andrew Granato researches business organizations, tax, corporate finance, and financial and securities regulation, with projects on wealth transfer, the impact of the law firm partnership form, and financial valuation methodologies.
• Kwon-Yong Jin holds a J.D. from Yale Law School and is pursuing a Ph.D. in Financial Economics at the Yale School of Management, with research interests in banking regulation, securities regulation, and corporate governance.
• Gill West is interested in consumer finance, tax, and business organizations.

Program Details

Purpose of the Program

The J.D.-Ph.D. in Finance program is designed to provide students with the analytical tools needed to conduct empirical research on business law questions, enabling them to teach business law effectively.

Application Process

Applicants must be enrolled at Yale Law School and meet the admissions requirements set by Yale School of Management for the Ph.D. program, which typically includes a mathematical background with undergraduate courses in Multivariable Calculus, Linear Algebra, Real Analysis, and Statistics/Econometrics. Law students usually apply for admission to the Ph.D. program in their first year at Yale Law School but may also apply in their second year.

Financial Aid

Prospective students should inquire about financial aid opportunities.

Degree Requirements

1. Course Requirements:
   • SOM: Eight courses, including General Economic Theory: Microeconomics, Econometrics I and II, Financial Economics I, and two additional Ph.D. level finance courses.
   • Law School: 71 credit units, including required first-term courses, Torts and Regulation, a legal ethics requirement, and 6 credit units of experiential learning.
2. Graduate School Grade Requirements: Maintain an HP average to continue in the program past two years, with specific grading scales for Finance Ph.D. courses.
3. Pre-dissertation Writing Requirements: Two papers are required, including a paper fulfilling the SOM second-year research paper requirement and a paper fulfilling one of the Law School’s writing requirements.
4. Qualifying Exam in Finance: A qualifying exam in three courses, taken after completing all required graduate finance courses.
5. Dissertation and Oral Defense: A typical dissertation contains three essays, followed by a public defense and final acceptance by the Graduate School.

Additional Information

For more details on the program, including the rationale, application process, and degree requirements, interested students should refer to the provided information and contact the relevant faculty members for guidance.