UIC     University of Illinois at Chicago
College of Business Administration
Business Statistics Area-of-Inquiry of the PhD Program in Business Administration

The Business Statistics area is a program in advanced statistical methods. Each student chooses an area of application such as finance or quantitative marketing; at least four courses are to be taken in the area of application.

Prerequisites

Students accepted into the program without the prerequisites must complete them during the first year. Acceptance of an offer of admission obligates the student to do so.

Requirements

Total Credit Hours

The PhD program requires at least 96 hours from the baccalaureate and at least 64 from the master's. In the PhD in Business Administration these are typically met as follows.
Student enters with:Baccalaureate MBA or MS
Core 48 hours Less than 48 hours
PhD level courses 32 hours 32 hours
Dissertation hours 32 hours 32 hours

1. Applied Statistics Requirement

The student must demonstrate proficiency in basic applied statistical methods by previous course work or by taking the following courses: STAT 381-481: Applied Statistical Methods I-II.

2. Breadth Requirement

A four-course breadth reequirement (e.g., four business core courses, no two from the same functional area). Each student should be sure to include a basic course in the chosen second field, if not already taken.

3. Six Course Depth Requirement

These three courses (which provide the basis for the Qualifying Exam). STAT 401: Introduction to Probability
  • STAT 411: Statistical Theory
  • ECON 534: Econometrics I and any three of the following five courses. Additionally, there must be 32 hours of course work (which may include Independent Study) in the Area-of-Inquiry beyond what has been taken to satisfy the Core Requirements. The course of study is designed by the student and the student's advisor and includes choice of a second field, e.g., Accounting, Economics, Entrepreneurship, Finance, Marketing, Management Information Systems, Operations Management, Real Estate, or Industrial Engineering. The 32 hours should be a coherent set of eight courses chosen in conjucntion with the student's adviser. Typically the student should choose at least four courses from the chosen second field.

    Sample Program

    For a student whose second field is finance.
    Fall Spring
    Year 1
    STAT 401 Intro to Prob depth, 1/6 STAT 411 Stat. Theory depth, 3/6
    ECON 534 Econometrics I depth, 2/6 ECON 535 Econometrics II depth, 4/6
    depth, 4/6 breadth, 1/4 Bus Core Course breadth, 3/4
    Bus Core Course in ECON breadth, 2/4 Bus Core Course in FIN breadth, 4/4
    Year 2
    IDS 582 Bus Res & Forecasting I depth, 5/6 IDS 583 Bus Res & Forecasting II depth, 6/6
    STAT 511 Adv Stat Thy I PhD, 1/8 STAT 512 Adv Stat Thy II PhD, 3/8
    FIN 510 Investments PhD, 2/8 FIN 516 Options & Futures Mkts PhD, 4/8
    PhD Level Course PhD, 5/8 PhD Level Course PhD, 6/8
    Year 3
    FIN 512 Portfolio Analysis PhD, 7/8 PhD Research
    FIN 551 Fin Decision Making PhD, 8/8 PhD Research
    Dissertation research continues until the dissertation is completed.

    Examinations

    Qualifying Exam

    The Qualifying Exam must be taken after one year in the program. It is based on STAT 401 (probability), STAT 411 (Statistical Theory), and ECON 534 (Econometrics I). The texts for these courses are Hogg, McKean, and Craig's book on mathematical statistics and Greene's book on econometrics. Note that this does not mean that the questions on the exams will be taken directly from these books. Rather, it is the student's responsibility to become knowledgeable about the field of statistics in general. The courses are taught by different instructors at different times. The exam is not pegged to specific offerings of these courses but rather tests general knowledge of probability, statistics, and econometrics at the level of these courses. The attainment of such general knowledge marks part of the transition from being a student to being a professional.

    Preliminary Examination: Dissertation Proposal

    The exam may be a combination of written and oral. The student's committee for the Preliminary Exam will be responsible for planning the content of the exam. So far, the Preliminary Examination in the Business Statistics Area has consisted of the Dissertation Proposal.

    Dissertation

    The student is required to register for 32 hours of PhD dissertation research.

    Dissertation Defense

    The final version of the thesis is deposited with the Graduate College after the defense. This may be a few weeks or months later.

    Other Course Selection

    Approved courses for the 32 hours of course work include courses such as the following. Faculty who have served as Advisers or on Committees of B-Stat AoI students

    For more information on the area-of-inquiry in Business Statistics or for an application, contact PhDbus@uic.edu

    References

    Robert V. Hogg, Joseph W. McKean and Allen T. Craig. Introduction to Mathematical Statistics. 6th ed. Pearson Prentice Hall, Upper Saddle River, NJ, 2005.   (Available 2004.)   ISBN # 0-13-008507-3.

    William H. Greene. Econometric Analysis. 5th ed. Prentice Hall, Upper Saddle River, NJ.

    This document is not an official publication of UIC
    but is supplied for informational purposes by the Coordinator of the Business Statistics Area.
    Copyright © 2008     Stanley Louis Sclove
    Created 2004: Sept 17     Last edited   2008: Nov 28