This program focuses on deposit insurance principles, practices and policies. Topics include deposit insurance pricing, measurement of fund exposure, industry best practices, reinsurance, moral hazard and safety-net protection, too-big-to fail, least-cost failure resolution, firewalls within financial conglomerates.
This program studies modern risk metrics and analysis. Topics include market risk measurement, internal risk measurement models, credit-risk scoring, stress testing, loan pricing, credit derivatives, impact of supervisory restrictions, risk monitoring tools and systems.
Bank Performance & the Economy
This program explores the role of banking in the economy. Topics include the role of banks in the transmission of monetary policy, banks as liquidity providers, role of underwriting standards in credit cycles, impact of bank capital requirements on credit allocation, effect of local and national economic conditions on bank performance, determinants of banks' share of financial services markets, banks as delegated monitors.
This program helps to enhance best practices in the corporate finance environment. Topics include how corporations can, should and do fund themselves, capital budgeting, cost of capital, loan and securities pricing, securitization, financial engineering and innovation, role of managerial incentives in financing decisions, ownership structures, corporate governance. Risk management here differs from those in the "Risk Measurement" track by their application.
Consumer Finance and Credit Issues
This area covers credit, insurance, payment systems, tax preparation and other financial services. Topics may study depository institutions, investment managers, brokers, financial advisers and others from the perspective of consumers, business providers, regulators or courts. Researchers help us understand how consumers make financial decisions, how businesses design and deliver financial products and advice, and how courts and regulation affect these services.
Policy & Regulation
This program focuses on sound policymaking and effective regulation with minimal adverse consequences. Topics include supervision and regulation of insured depository institutions, financial safety net and government policy on troubled institutions, impact of deregulation on the financial industry, corporate governance at financial institutions, government's optimal role in securities markets, antitrust and competition policy in financial services, financial regulation motivated by social and/or political goals, reform of the financial regulatory agency structure.