Program Overview

The PhD in Business Administration with a focus in Real Estate is designed to prepare students for teaching and research at universities and colleges and for positions in government and business. The PhD in Real Estate emphasizes intensive training in real estate, economics, quantitative methods, and finance with the goal of producing research-minded PhD graduates, while at the same time providing a comprehensive teaching experience. Students are encouraged to individualize their programs by supplementing their studies with courses from other Terry programs.

The Terry College provides an excellent opportunity for those interested in pursuing a PhD in Real Estate. Our faculty are involved in the education of our doctoral students with specialized seminars focused on a student’s overall success. Some of the other benefits of the Terry College include:

  • One of the premier academic journals in real estate, The Journal of Real Estate Finance and Economics, has been housed at Terry since its inception.
  • Our faculty includes current and former editors of the top academic journals in real estate, as well as board members of the American Real Estate and Urban Economics Association.
  • Our faculty members are among the top publishers in the premier real estate journals. One faculty member was recently ranked as the 6th most cited real estate researcher in the United States.

Preferred deadline: January 4

Applications after January 4 will also be considered until spots are filled.

Jim Conklin
  • Associate Professor, Real Estate Program


Ideally students should complete these courses prior to entering the program:

Typical Course Sequence

Year 1




Year 2




  • REAL 9000 Doctoral Research
  • Preliminary Exams

Years 3 and 4



Faculty Research Interests

Areas of research interests are an important consideration for selecting a program that fits your academic needs. We have faculty experts in areas of economics, finance and investments, as well as geo-spatial analysis. Research areas include, but are not limited to:

  • James N. Conklin: Real Estate Economics & Finance, Mortgages, Financial Intermediation
  • Darren K. Hayunga: Asset Pricing, Housing Economics, Geo-Spatial Economics
  • Richard W. Martin: Gentrification, Spatial Mismatch, Suburbanization and Sprawl, Housing Affordability
  • Henry J. Munneke: Price Indices, Land Use Controls, and Land Economics
  • James B. Kau: Real Estate Finance and Investment, Urban Economics, Housing Economics, Real Estate Economics, Regional Science


The specialized curriculum, involvement in research, and opportunities for gaining quality teaching experience while at the University of Georgia, lead to excellent employment possibilities. Our doctoral program has a strong record of placing professors and chairholders at a number of universities, including Florida State University, Pennsylvania State University, Auburn University, Louisiana State University, Brigham Young University, University of Denver, and Arizona State University.

Recent graduates of the Real Estate Program serve on the faculty of leading universities in the U.S. and around the world as well as in leadership positions at major private-sector and government organizations:

  • Nicholas Smith (2022), Financial Economist, Federal Reserve Bank of Philadelphia
  • Jim Stevens (2020), Assistant Professor, Wofford College
  • Anurag Mehrotra (2019), Assistant Professor, San Diego State University
  • Stephen Buschbom (2017), Assistant Professor, Texas Tech
  • Lu Fang (2016), Assistant Professor, Florida International University
  • Joseph R. Nicholson (2012), Assistant Professor, Montclair State University
  • Kiplan Womack (2012), Assistant Professor, University of North Carolina Charlotte
  • Shannon Clark (2010), Principal Research Statistician & Developer, SAS
  • Constantine Lyubimov (2010), Researcher, Federal National Mortgage Association

The universities where our graduates are recognized for their success is also a testament to the foundation received at Terry. Selected alumni holding chairs and named professorships:

  • G. Stacy Sirmans, J. Harold and Barbara M. Chastain Eminent Scholar in Real Estate and Kenneth G. Bacheller Professor of Real Estate, Florida State University
  • Anthony B. Sanders, Distinguished Professor of Real Estate Finance, George Mason University
  • John H. (Jack) Corgel, Robert C. Baker Professor of Real Estate, Cornell University
  • Paul Robert Goebel, James E. and Elizabeth F. Sowell Professor, Texas Tech University
  • R. Kelley Pace, Louisiana Real Estate Commission Professor, Louisiana State University
  • Brent Ambrose, Smeal Professor of Real Estate, Pennsylvania State University
  • Tim Allen, Alico Chair of Finance, Eminent Scholar, Florida Gulf Coast University
  • V. Carlos Slawson, C.J. Brown Distinguished Professor of Real Estate, Louisiana State University
  • Barrett A. Slade, James M. Passey Professor of Finance, Brigham Young University

Departments and Program Offices

Additional Information