Economics Faculty Lead Second Duke in London Program

02 September 2014 3:32PM

The sound of London calling appeals to many undergraduates who wish to study abroad. Fifteen talented juniors answered by way of the 2014 Duke in London Finance program.

“We created the London program because we knew that a lot of Duke alumni currently work in the financial markets in London, and we wanted to have opportunities for those alumni to connect with current students,” said Professor Emma Rasiel, who has helmed the program since its inception in 2013.

Six women and nine men, including economics and engineering majors, were drawn from an applicant pool of 50 Duke students. Some had already decided on a career in finance; others were interested in learning more about the field. According to Rasiel, the cohort was impressive.

“We’re fortunate to be a popular program with lots of applicants, so we can put together a really good group,” Rasiel said. “They were outgoing, asked lots of good questions when we had visiting speakers, and were very professional when we visited the various firms.”

Rasiel and John Caccavale, Executive Director of the Duke Financial Economics Center, put together a curriculum that included panel discussions, trading floor visits, recruiting advisory sessions, and case studies.

“We were in London when the markets were quite interesting,” Cacccavale said. “We started every class with a market update and connected the concepts the students were learning to what was actually happening on a day-to-day basis in the markets. They were both studying it and living it.”

Students spent six weeks in Central London, where they took two finance courses, ECON 370A and 471A, for credit, taught by Caccavale and Rasiel, respectively, at University College London. Additionally, they met London-based Duke alumni who work in finance. Some of the top financial institutions were represented, including Bank of America, Barclays, Bloomberg, Credit Suisse, Morgan Stanley, Oliver Wyman, and TDR Capital.

The consensus among Duke in London participants is that the program – and its location in one of the top financial capitals of the world – was incredibly eye opening. Students like Cheng Ma, a mechanical engineering student minoring in finance, sang its praises.

“This is a great program to learn a lot about finance in a short amount of time, and financial knowledge is critical to managing your own money – even if you are not considering a career in finance,” Ma said. The visiting lecturers and John and Emma also gave us a lot of advice on the recruiting process. In particular, John and Emma had lunches with everyone in the program and offered each person guidance on what they want to do and how they can get there.”

Before Duke in London, Ma said she wasn’t sure which division within finance would fit her career goals best; however, after listening to the visiting lecturers discuss their jobs, she determined that her interests lie in private equity.

Steven Kang said he most enjoyed the guest lectures and firm visits. "These two things provided me with insights into the industry. I was able to have conversations with professionals working in different segments of finance. It helped me build a holistic view of the industry." Kang intends to double major in economics with a finance concentration and statistics, and said he wants to pursue a career in finance.

For Suqi Huang, an economics and mathematics major, learning “what finance is about” and the journey abroad were big draws.

“I knew nothing about finance before the program, so I had to learn the language and the terminology for navigating the market,” she said. “I also learned some helpful skills for networking and interviewing.” Huang plans to apply for finance internships next summer.

With school in session, Huang is now back in Durham. “I do miss London, but Duke still feels like home, so it’s nice to be back with friends.”

Applications for Duke in London 2015 will become available Nov. 1, 2014 via the Duke Global Education website. Students interested in learning more about the program are invited to attend the Sept. 16 Global Education Fair from 11 a.m. to 3 p.m. in the Bryan Center. Staff will be available to answer questions.

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