The MFin class of 2009-10 graduated last Saturday. I need to explain what this means. In Cambridge, you aren’t actually allowed to use the title MFin (or whatever degree you’ve got) unless you graduate, either in person or in absentia. … Continued
We are getting close to the end of the admissions process. There is always a large margin of error at this stage but it looks likely that next year’s class will be a bit bigger than this. I’d suggest a … Continued
Three Eurozone countries are being “bailed out” at present: Greece, Ireland and Portugal. In each case the country’s government has been lent money by public sector organisations (IMF, European Central Bank (ECB) and EU member states) because the private markets … Continued
I’m reading an excellent new book called “Red Capitalism: the fragile foundation of China’s extraordinary rise” by Carl Walter and Fraser Howie which provides some very detailed and fascinating background to the current state of the Chinese banking system. It’s … Continued
I wrote a while back about the potential benefits of restricting student choice. I’m feeling even more inclined in that direction after the annual group consulting project (GCP) round. We try to offer students a choice over which project to … Continued
Thomas Schelling won the Nobel Prize in Economics in 2005 together with Robert Aumann for work on game theory. Aumann’s work is in the traditionally mathematical area of game theory. Schelling’s is much more accessible and his main insights are … Continued
As I’m making personal book recommendations I’ll make a detour into my favourite fiction. At the risk of this deteriorating into a sort of sub-Facebook page, here are a few of my favourite authors: Tolstoy, Turgenev, Bulgakov, Chekhov and Bunin … Continued
I read very few books owing to a lack of time. I read a great many articles and blog posts, which has possibly made me impatient when I think of reading a whole book. And many books are too long, … Continued
I don’t advise students to do much preparation ahead of starting the MFin. It’s a very full course and it’s better to get some rest rather than try to learn early what you’ll be covering in the degree. But I … Continued
Two forces fuel the growth of financial services. First, the growth of household income leads to demand for basic banking then saving and pension products. This in turn drives the growth of commercial banks and institutional savings businesses like pension … Continued
The University of Cambridge is a brand. To an economist, a brand is a piece of information that helps consumers by overcoming asymmetric information. In the commercial world, a good brand allows the producer to charge more than for for … Continued
Since the MFin began two and a half years ago, we have been steadily reducing student choice. Not in the sense of cutting out electives – on the contrary, there are more options than ever. But in the sense of … Continued
For at least a year there have been investors and commentators concerned about a resurgence of inflation in the US and Europe. Inflation has already risen in some other economies, including China, but that is partly to be expected in … Continued
There has been a discussion in the Financial Times recently on the theme that business schools ignore business. A professor at London Business School, Freek Vermeulen, argued that most of what is taught at business schools is not based on … Continued
There is an amusing FedEx TV commercial available on YouTube which has the slogan “Even an MBA can do it.” Perhaps this shows there is a gentle backlash against the pretentions of MBAs in the US, the numbers of which … Continued