PhD student Lawrence Choo selected to attend 22nd Jerusalem School in Economic Theory
Business School PhD student Lawrence Choo was one of the 30 PhD students selected to attend the 22nd Jerusalem School in ‘Economic Theory: The Global Financial Crisis’, despite intense competition from other students from places like Harvard, Yale and Oxford.
Hosted at the prestigious Institute for Advance Studies at The Hebrew University of Jerusalem, the annual summer school provided an opportunity for a diverse audience of students, academia and policy makers to hear from distinguished theorists such as Nobel Laureate Eric Maskin, Markus Brunnermeier, John Geanakoplos, Simon Gilchrist, Bengt Holmstrom, John Moore, Robert Aumann, as well as leading practitioners such as Larry Summers and Stanley Fischer.
Eric Maskin, began the summer school by describing the debacle following the start of the financial crisis and highlighting the availability of economic theory, which had, actually foreseen the crisis. The distinguished speakers went to great lengths to describe economic models that integrated systems with collateralisation, tranching and securitisation, as well as the motivations for inter-bank lending and quantitative easing. Larry Summers and Stanley Fischer reflected on their concerns at the height of the crisis and provided insight into the motivation and implications of their recommended policies. The summer school ended with an impressive orchestral performance by Eric Maskin on the clarinet, accompanied by world-renowned musicians.
Lawrence Choo commented: “The experience I have gained at the Business School was extremely instrumental in securing my place at such a distinguished summer school. The summer sessions were not only an opportunity to stand on the shoulders of giants, but also an opportunity to bounce around research ideas and debates with fellow PhD candidates from the cream of the Ivy League and Europe.
Without a doubt the course was intense and the scope covered was immensely broad, fortunately the groundwork and technical background garnered at Exeter ensured that I was never more than a stone’s throw away from the discussion. Most importantly, I left the summer school with a renewed research direction and confidence.”
Date: 12 July 2011