Center for Financial Economics hires director
After five years of planning and fundraising, the appointment of Jon Faust as director of the Center for Financial Economics (CFE) moves the Center closer to its goal of offering a minor next year.
The CFE hopes to offer a "more complete understanding of financial markets than graduates of any other university," Economics Department Chairman Joseph Harrington said.
Faust was approved by Dean Adam Falk of the Krieger School of Arts an Sciences to head the CFE after the economics department looked for candidates both within Hopkins and outside.
According to Harrington, Faust's selection was due in part to his experience in the field, particularly his work in research and policy with the Federal Reserve Board of Governors.
"We hope to provide students an unsurpassed preparation in finance blended with a traditional liberal arts education," said Faust, who has been a professor of economics at Hopkins for nearly two years.
Financial economics is, according to Faust, a field of study that focuses on markets for assets. These assets are both physical, such as houses, and financial, such as bonds.
"This area is quite broad, involving questions of how individuals save for retirement, how firms finance their investments and how governments borrow to finance budget deficits," he added.
"Neither finance nor economics by itself is sufficient to understand financial markets and to operate within them," Harrington said.
According to Harrington, financial economics also involves understanding different financial markets, such as equity markets and international currency markets.
He added that the field also brings the financial aspects of corporations into the examination of how an economy operates.
Louis Maccini, the former chairman of the economics department, said plans for the CFE were first introduced five years ago as a way to "integrate finance and economics and to do it in a way that would benefit both teaching and research."
The CFE hopes to offer a "more complete understanding of financial markets than graduates of any other university," Economics Department Chairman Joseph Harrington said.
Faust was approved by Dean Adam Falk of the Krieger School of Arts an Sciences to head the CFE after the economics department looked for candidates both within Hopkins and outside.
According to Harrington, Faust's selection was due in part to his experience in the field, particularly his work in research and policy with the Federal Reserve Board of Governors.
"We hope to provide students an unsurpassed preparation in finance blended with a traditional liberal arts education," said Faust, who has been a professor of economics at Hopkins for nearly two years.
Financial economics is, according to Faust, a field of study that focuses on markets for assets. These assets are both physical, such as houses, and financial, such as bonds.
"This area is quite broad, involving questions of how individuals save for retirement, how firms finance their investments and how governments borrow to finance budget deficits," he added.
"Neither finance nor economics by itself is sufficient to understand financial markets and to operate within them," Harrington said.
According to Harrington, financial economics also involves understanding different financial markets, such as equity markets and international currency markets.
He added that the field also brings the financial aspects of corporations into the examination of how an economy operates.
Louis Maccini, the former chairman of the economics department, said plans for the CFE were first introduced five years ago as a way to "integrate finance and economics and to do it in a way that would benefit both teaching and research."
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