Events at the
Graduate School of Economics, Finance, and Management

Opening Ceremony
Inaugural Global Economic and Financial Policy Series Event

Opening Ceremony

House of Finance, Goethe University Frankfurt, December 2, 2008

Professor Dr. Rudolf Steinberg, President, Goethe University Frankfurt, challenged all involved in the Graduate School of Economics, Finance, and Management:

"A successful Graduate School of Economics, Finance, and Management will be the foundation for Goethe University Frankfurt and Johannes Gutenberg University Mainz to become globally recognized centers for academic education in economics, finance, and management. Can it be done? Can the Graduate School of Economics, Finance, and Management stand shoulder to shoulder with the top centers of research excellence? Can it possibly be among the 50 best, or better yet, 25 best schools of its kind in the world? I challenge the Graduate School's leadership to produce just such a demonstrable outcome."

Professor Dr. Georg Krausch, President, Johannes Gutenberg University Mainz, heralded the founding of the Graduate School and urged it to become an outstanding center of learning having the potential of countering the brain drain in economics, finance, and management.

Dr. Renate Sterzel, Member of the City Council of Frankfurt, praised the initiative shown by founding the Graduate School: "The Graduate School is poised to re-animate the noble tradition of excellence in education in Frankfurt."

In one of the two keynote addresses, Professor Dirk Bergemann, Ph.D., Douglas and Marian Campbell Professor of Economics, Yale University and a former undergraduate student at Goethe University, lamented that the Graduate School was not opened years earlier, stating "had the Graduate School been founded 20 years ago, I would not have had to travel so far." He urged "patience – just like when operating a vineyard … planting, monitoring, irrigating, and deciding when to harvest and when to prune."

Professor Michael Binder, Ph.D., Founding Dean of the Graduate School of Economics, Finance, and Management noted:

"The Graduate School is being founded at a time when European policy makers and economists educated in Europe are finding a new visibility and responsibility in international debates." Quoting Thomas Edison, he stressed that becoming a globally recognized center of graduate education and research will only come with hard work: "Opportunity is missed by most because it is dressed in overalls and looks like work."

Matthias Bart, Member of the Managing Board, SEB Asset Management, announced a generous financial grant to help jump-start the Graduate School and pointed to the vital need for market participants in the financial and banking center Frankfurt to have close interaction with cutting-edge research.

In the second keynote address, Professor Giancarlo Corsetti, Ph.D., Pierre Werner Chair at the European University Institute Florence, gave all involved in the Graduate School invaluable advice in his talk entitled "Learning to Be a Student", noting that "this is a formidable time to be entering the scientific community. The responsibility on your shoulders is a great one." He urged the students to interact, collaborate, network "and publish: That is the face of creativity."

In a second part of his keynote address, Professor Corsetti also provided timely insight into the underpinnings and implications of the financial crisis that did unfold in full in 2008.

Four current Ph.D. Program students presented posters describing ongoing research work of theirs. The research topics reflected the breadth of issues of interest to students and faculty at the Graduate School of Economics, Finance, and Management.

Alexander Bick with fellow GSEFM students Pei Kuang, Kristina Czura, and Xiaobei He

Alexander Bick spoke about "Female Labor Force Participation, Fertility, and Family Policies".

Qianying Chen discussed "Effects of Monetary Policy Shocks on Exchange Rates" (joint with Michael Binder and Xuan Zhang).

Discussion of Qianying Chen's poster with Dr. Robert Anderton (European Central Bank) and GSEFM students Marcel Bluhm, Carolina Achury, Thomas Kostka, and Jana Gieck

"Growth Effects of Financial Globalization" (joint with Michael Binder and Sunil Sharma) were examined by Georgios Georgiadis.

GSEFM student Ali Mazyaki reflecting upon Georgios Georgiadis' presentation

Yuliya Plyakha with Professor Dr. Bertram Schefold

Yuliya Plyakha presented her work on "Portfolio Policies with Stock Options" (joint with Grigory Vilkov).

Attendees of the Opening Ceremony included:

Professor Dr. Klaus Breuer (Dean of the Faculty of Law and Economics, Johannes Gutenberg University Mainz), Professor Dr. Brigitte Haar (Director, Ph.D. Program in Law and Economics of Money and Finance), Professor Dr. Rainer Klump (Dean of the Faculty of Economics and Business Administration at Goethe University Frankfurt) (front row), and Professor Michael Haliassos, Ph.D. (Director of the Professional Master Program in Money and Finance), Professor Thomas Laubach, Ph.D. (Member of the Managing Board, House of Finance) and Professor Dr. Helmut Siekmann (Director, Institute for Monetary and Financial Stability)

Professor Dr. Beatrice Weder di Mauro and Professor Dr. Martin Biewen

Professor Dr. Beatrice Weder di Mauro (Member of the German Council of Economic Experts) and Professor Dr. Martin Biewen (Johannes Gutenberg University Mainz) (back row, with Professor Dr. Georg Krausch and Matthias Bart in front row)