Bendheim Center for Finance


Bendheim Center for Finance

The Bendheim Center for Finance is an interdisciplinary research center established by Princeton University in 1998.

History

In 1998, Princeton University established the Bendheim Center for Finance to encourage interdisciplinary research in finance from a quantitative or mathematical perspective. The Center's research activities focus on the study of financial markets and asset prices, financial structure of firms, commercial banks and other financial intermediaries, and linkages between financial economics and such fields as engineering, operations research, mathematics, computer science, psychology and public policy. "Proponents of the program cited similar 'professionally-oriented mathematical and computational finance programs' at Columbia, the University of Chicago and other peer institutions." [ [http://www.dailyprincetonian.com/archives/2000/05/12/news/991.shtml Finance center may offer master's degree - The Daily Princetonian ] ] Ben Bernanke is credited as the founder of the center. [ [http://www.dailyprincetonian.com/archives/2005/10/25/news/13584.shtml Bush picks Bernanke to lead Fed - The Daily Princetonian ] ]

Research

Most recently, the Bendheim Center was featured in a Wall Street Journal article about bubbles. The article featured three "young stars" — Harrison Hong, for his work on "how differences of opinion and short-sales constraints cab help start a bubble, and analysts' role in forming a bubble;" Wei Xiong, for his work on "how investors' disparate beliefs and overconfidence lead to frequent trading in bubble periods;" Markus Brunnermeier, for his research "suggesting rational investors are better off riding a bubble than trying to attack it." [ [http://online.wsj.com/article/SB121089412378097011.html Bernanke's Bubble Laboratory - WSJ.com ] ]

Facilities

The Bendheim Center for Finance is located in former Dial Lodge on Prospect Avenue, adjacent to the Economics Department's Fisher Hall and close to the Operations Research and Financial Engineering department.

Undergraduate certificate

History of the undergraduate certificate

In the fall of 1999, BCF began offering a certificate in finance, awarding the first certificates in June 2000.

Number of certificates awarded per year:

Masters degree

The Bendheim Center for Finance offers a Masters in Finance (MFin) degree that can be completed in 1 year (10 courses) or 2 years (16 courses). Only students with prior finance training or work experience are admitted to the 1 year option.

2006: 418 applications, 46 acceptances (11%), 27 enrollees (59%).

2007: 459 applications, 48 acceptances (10%).

2008: 650 applications, 40 acceptances (7%), 30 enrollees (75%).

The New York Sun claims that it is a popular alternative to an MBA, particularly for people wishing to go into trading and hedge fund jobs. [http://www.nysun.com/article/34738]

History of the MFin degree

The Bendheim Center for Finance began offering a Masters in Finance degree in 2001, awarding the first degrees in June 2002.

Number of MFin degrees awarded per year:

Notable faculty (current and former)

*Ben Bernanke — Federal Reserve Chairman; former Chairman of the U.S. President's Council of Economic Advisers
*Alan Blinder — former Federal Reserve Vice Chairman
*Burton Malkiel — former Dean of the Yale School of Management; author of "A Random Walk Down Wall Street"
*Daniel Kahneman
*Harrison Hong — young star [ [http://online.wsj.com/article/SB121089412378097011.html Bernanke's Bubble Laboratory - WSJ.com ] ]
*Wei Xiong — young star [ [http://online.wsj.com/article/SB121089412378097011.html Bernanke's Bubble Laboratory - WSJ.com ] ]
*Markus Brunnermeier — young star [ [http://online.wsj.com/article/SB121089412378097011.html Bernanke's Bubble Laboratory - WSJ.com ] ]
*Yacine Ait-Sahalia
*Rene Carmona

References

External links

* [http://www.princeton.edu/~bcf/ Official website]


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