Press Releases

Booth in the News
Press Releases
Media Source Guide
Media Contacts

The University of Chicago Graduate School of Business Announces Three New Corporate Partners and a New Executive Director for Its Initiative on Global Markets

August 08, 2007

AQR Capital Management, Barclays Bank and Northern Trust have agreed to contribute a combined $1.35 million to the University of Chicago Graduate School of Business for its Initiative on Global Markets (IGM), the school announced today.

The initiative—which pulls together important new research on international business, financial markets and public policy—was launched in 2006 with a $1.5 million founding grant from the Chicago Mercantile Exchange (CME) Trust.

“This generous corporate support enables Chicago GSB to advance its role as a thought leader on how global markets work,” said Edward Snyder, the school’s dean. “It will fund original research by our faculty and new classroom material for our MBA students. It will also allow us to interact more frequently with policy makers, leading global companies and the public, as they grapple with the issues and opportunities that arise from rapid global flows of trade and investment.”

The Initiative on Global Markets will lead these efforts. It is headed by Executive Director Brian Barry, Clinical Associate Professor of Economics, a former international journalist who has just joined the GSB faculty from The Economist Newspaper. It is also overseen by a cross-disciplinary board of senior faculty that pulls together experts in accounting, microeconomics, macroeconomics and finance: led by Co-Directors Austan Goolsbee, the Robert P. Gwinn Professor of Economics, and Anil Kashyap, the Edward Eagle Brown Professor of Economics and Finance.

In the past year the IGM has sponsored research on the creation and destruction of U.S. products, the role of whistleblowers in detecting corporate fraud, and the impact of Chinese growth on the world economy. In the 2007-2008 academic year it will fund a wide range of research projects that will shed more light on overarching issues in global business and finance. These include research on the recent surge in delinquencies of sub-prime mortgages, how different patterns of media ownership and regulation affect coverage of government corruption, social networks in finance, and a comprehensive look at the past, present and future of private equity.

The IGM has also recently begun funding research supporting the work of the Committee on Financial Sector Reforms in India, led by Raghuram G. Rajan, the Eric J. Gleacher Distinguished Service Professor of Finance. View a list of other projects and working papers underway as part of the initiative.

“The initiative also sponsors extended visits by outside faculty to contribute to the research environment at Chicago GSB,” said Snyder, who is also the George Pratt Shultz Professor of Economics. Visiting Fellows in the 2007-2008 academic year will include Phillippe Aghion from Harvard University, Joseph Altonji from Yale University and Esteban Rossi-Hansberg from Princeton University.

The IGM promotes a greater exchange of ideas between GSB researchers and decision-makers in the private and public sectors. It does this through conferences, the Myron Scholes Forum of prominent guest speakers, and enhanced interaction with the corporate partners so that academics and practitioners can benefit from each other’s insights.

In February 2008 the initiative will co-sponsor its second annual U.S. Monetary Policy Forum, a conference that brings together academics, chief economists from several major investment banks, and policymakers from the Federal Reserve. Each year the USMPF panelists will produce a report on critical medium-term issues confronting the Federal Open Market Committee.

The Myron Scholes Forum has so far sponsored lectures by, among others, Ernesto Zedillo, former president of Mexico, and Edward P. Lazear, Chairman of the U.S. President’s Council of Economic Advisers.

The growing slate of research projects, the visiting fellows, and the conferences and public speakers all promote the mission of the Initiative on Global Markets: to help decision-makers understand the modern economy’s rapid global flows of capital, products and talent, and the way these interact with public policies.

The University of Chicago Graduate School of Business is one of the leading business schools in the world. The school’s faculty includes many renowned scholars and its graduates include many business leaders across the U.S. and worldwide. It is consistently ranked as one of the top ten business schools in the world and usually as one of the top five. The Chicago Approach to Management Education is distinguished by how it leverages fundamental knowledge, its rigor, and its practical application to business challenges.

Chicago GSB offers full-time and part-time MBA programs, an executive MBA program, a Ph.D. program, open enrollment executive education and custom corporate education.