Duke in New York

Financial Markets & Institutions

An immersive learning experience in the global financial services industry

Duke in New York Financial Markets and Institutions is a liberal arts-based, one-semester program in New York City for Duke undergraduates interested in gaining a deeper understanding of the financial services industry and global financial markets.

The program incorporates four full-credit courses taught by Duke faculty, guest lectures and panels, visits to trading floors, and socials hosted by banks and other institutions. The courses feature a broad-based liberal arts approach to issues of international finance, financial markets, and associated institutions. This includes regulation, government-business relations, supporting institutions, and value and ethical issues.

It is not necessary for students to have prior experience or coursework in finance, nor is it necessary to have the intention of working in the financial field after graduation to participate in the program. Duke in New York Financial Markets and Institutions should be seen as an opportunity for students to become more familiar with the full scope of career opportunities in financial services or regulatory agencies involved in financial markets.

Students leave the program with a more complete understanding of the functioning of global capital markets and regulatory issues involved in these markets. They also leave with a strong sense of community created with the many Duke alumni who have eagerly volunteered to participate in the program.

Duke in New York Financial Markets and Institutions is not a placement program for internships. In previous years, many Duke in New York students have been successful in securing summer internships. Furthermore, the academic director works with the Duke Career Center and many New York-based finance companies to arrange internship interviews at their New York offices or by phone. However, applicants should be aware that obtaining summer internships in finance is neither the goal nor the purpose of the program. 

If you are an international Duke student on a visa (such as F-1) and are considering an internship during the summer following this program, then you should contact the Duke Visa Services Office for important information about obtaining the required OPT/CPT authorization to be compliant with Duke and federal law.

We actively welcome sophomores as well as juniors to apply to this program.



Spring 2018

All classes are held at NYU's Kimmel Center. 

ECON 370A Global Capital Markets (SS, W)
Faculty: John Caccavale
Financial markets and the role of investment banks as intermediaries. Divisions and functions within investment banks: sales and trading, corporate finance, research and wealth management. Aspects of asset pricing and corporate valuation. Impact of current events on financial markets. Intended primarily for sophomores and juniors interested in a career in financial markets. Pre-requisite: ECON 101. Consent of instructor required. One course.

ECON 307A: Understanding Financial Bubbles and Crises (SS)
Faculty: John Caccavale
This course examines the similarities/differences of historical financial crises from “Tulipmania” through the Great Recession to better understand our current economic environment.  Explores the regulatory changes that are enacted post-crisis and determines factors that might prevent future economic bubbles/crises. Class includes guest speakers from the NY financial community who experienced recent crises from 1987 Black Monday Crash through Credit Crisis of 2008 to provide an inside view and feel of the markets during those periods. Pre-requisite: ECON 101. One course.

ECON 377A The Economics of Financial Derivatives and Financial Engineering (QS, SS)
Faculty: George Tauchen
This course is a basic introduction to derivatives with a focus on their economic functions as tools for hedging and risk management. Topics include forwards, futures, swaps, options, parity conditions, binomial options pricing, Black-Scholes formula, financial engineering for risk management Value at Risk (VAR). Emphasis on intuition and common sense implementation of technical material. Pre-requisites: Econ 101, Math 202, and Stats 111. One course.

Architecture and Urbanism in New York City
. ALP. Faculty: Prof. Andrew Weinstein
This course will explore the history of architecture and urbanism in New York City from the colonial period through the present day. We will study well-known monuments along with lesser-known but important works, and consider the political, cultural, and economic factors that fueled the development of New York’s built environment. Classroom lectures will be regularly supplemented with site visits across the city.

This course has been chosen as a different educational experience than the three economics courses and takes advantage of the Duke in New York program's unique and important location.



Spring 2018

Saturday, January 6: Required move-in date
Sunday, January 7: Orientation
Monday, January 8: First day of classes
Last day of program: Wednesday, April 25


Duke in New York students live at the St. George in Brooklyn Heights, one of the safest and nicest premier neighborhoods in the city. This residence includes three towers: St. George Studio, St. George Weller, and St. George Clark. All are connected by a lobby and student community center. Duke in New York students live in the St. George Studio and St. George Weller towers.

The St. George is managed by Educational Housing Services (EHS), a non-profit company that provides student housing in several areas of New York City. All residents of the St. George are students enrolled at accredited colleges and universities. EHS staff members also live in the building and are on hand at all times to assist student residents.

The historic Brooklyn Heights location of the St. George has much to offer, including close proximity to the Brooklyn Promenade, a popular walkway on the East River with great views of the Statue of Liberty, lower Manhattan, and the Brooklyn Bridge. Brooklyn Bridge Park, one of the city’s newest and largest park areas, is also accessible near the St. George.

The area around the St. George has everything to meet students' day-to-day needs, including restaurants, cafés, pharmacies, grocery stores, and banks. Multiple subway lines (2, 3, 4, 5, N, R, A, C, E) are within walking distance, so getting anywhere in the city is easy.

Please see estimated costs for a breakdown of the room types that are available and their costs.


Where will I live in New York?

Students live at the St. George in Brooklyn Heights managed by Educational Housing Services. Single and double rooms available. For more information on the St. George, see the Accommodations page.

Where will classes be held?

Classes are held in the Kimmel Center at NYU. The exact address is 60 Washington Square South, New York, NY 10012.

Do I need a letter of recommendation?

When you first apply for the program, you do not need to submit a letter of recommendation. We may ask you to provide one later in the process. If we ask you for a letter of recommendation, it should discuss not only your academic and intellectual abilities, but also your maturity, reliability, ability to work with others, etc. You will be representing not only yourself, but also Duke University; and, hence, these aspects are extremely important.

Do I need to inform the Registrar of my participation in this program?

You will be enrolled at Duke while participating in this program, so it is not necessary to notify the Registrar or apply for a leave of absence from Duke. Since this is a Duke program, your grades will appear on your transcript and will count toward your overall GPA.


Spring 2018

Estimates are based on previous years' programs and the current exchange rate. All costs are subject to change.

  Duke Students Non-Duke Students
Tuition $25,860 $25,860
Program Fee $500 $500
Housing Fee See below See below
Transcript Fee N/A $40
Other Costs Other Costs Other Costs
TOTAL (Estimated) $40,100 $41,140

Explanation of Costs

Included in Program Fee

The program fee for this program includes:

  • Accommodations
  • Local transportation (monthly metro cards for duration of semester)
  • Program-sponsored activities and excursions
  • Orientation program
  • Access to educational facilities at NYU
  • Membership to Fitness Center next to student housing in Brooklyn

Not Included in Program Fee

Use the following list to assist with budgeting for expenses outside the program fee. This list contains common examples but should not be considered exhaustive. 

The program fee does not include: 

  • Airfare
  • Airport transportation to/from program site
  • Meal Plan
  • On-site accident and health insurance policy
  • Out-of-pocket medical expenses
  • Textbooks and class materials
  • Mobile phone
  • Laundry
  • Independent travel and entertainment
  • Items of a personal nature
  • Incidentals

Housing Fee

Single room*: $9,105 per semester per student
Double room: $8,110 per semester per student

*Please note that only a select number of single rooms are available for any year. Singles are offered on a first-come, first served basis.

Personal Spending

Personal expenses can fluctuate greatly depending upon habits and preferences of the individual. It’s also wise to budget for unexpected expenses such as medical emergencies. On average, previous students suggest the amount between $1,000 - $1,200 for personal spending. 

Cost-of-living comparison

Payment Due Dates

Step 1: Within 3 weeks of acceptance to the program, confirm your enrollment by submitting the non-refundable $1,000 deposit ($1,040 for non-Duke students). Deposits are payable by check or Student Account E-Check. If you receive Duke financial aid, submit the Deposit Waiver Form in lieu of the deposit. Log in to MyGlobalEd for remittance instructions or waiver form.

NOTE: If you withdraw after committing to the program, your deposit will be retained or $1,000 will be charged to your Bursar account. 

Step 2: Complete all post-acceptance items listed on your MyGlobalEd application, including the Participation Agreement, Pre-Departure Orientation, International Travel Registry, and any program-specific forms. 

Step 3: Semester invoices will be sent via email to your Duke email address and home email address. Remit payment to the Bursar per due date and address indicated on your online statement. All financial arrangements involving Duke University must be completed prior to departure for the program.

Duke Bursar’s Office 

Financial Aid

Duke students receiving financial aid are eligible for aid for this program (work-study funds must be converted to loans). Students are individually responsible for making the necessary arrangements with the Office of Undergraduate Financial Aid and the Bursar. Non-Duke students are not eligible to receive financial aid at Duke and should contact their home institutions for financial aid information. 

Duke Financial Aid Office

Duke Bursar’s Office


Program faculty director(s) can assist with questions related to program academics, admissions, on-site needs, etc. For all other inquiries, please contact the GEO representative listed.

Faculty Directors

Emma Rasiel

Professor of the Practice of Economics

John Caccavale

Executive in Residence of Economics

GEO Program Manager

Paul Paparella

GEO Asst. Director & Regional Manager


Apply Now


First-round application deadline: May 15

Second-round application deadline: August 15

NOTE: After the second-round deadline, qualified applicants will only be considered on a space-available basis.

To apply, submit the following items to the Global Education Office for Undergraduates:

  1. Online application
  2. Duke in New York questionnaire (online)
  3. Official transcript(s) from all colleges and universities attended
  4. Personal statement, no longer than one page, explaining why you would like to participate on this program
  5. Resumé

Program Prerequisites

Potential applicants should fulfill the following requirements:

  • Both sophomores and juniors are eligible for the program.
  • Duke students from all majors/academic programs are welcome to apply.
  • GPA of 3.4 or higher (recommended)
  • Credit for Econ 101, Math 202, and Stats 111.

Apply Now