Duke in London-Finance
A 6-WEEK SUMMER GLOBAL FINANCE PROGRAM
The Duke in London-Finance program is suspended for summer 2021. Please review GEO’s COVID-19 response page for more details: https://globaled.duke.edu/covid-19-response.
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Meet London-Based Duke Alumni Working in Finance
This program is designed for students interested in gaining a deeper understanding of the financial services industry and global financial markets. London is an ideal setting in which to study these topics, given the city’s role as a center for financial transactions throughout Europe, as well as links to the US, Asia, and emerging markets. The location likewise offers a variety of opportunities to interact with Duke alumni living and working in London as financial market professionals.
Program Fast Facts
Location: London, United Kingdom
Dates: June 27, 2020 - August 8, 2020
Application Deadline: February 1
Academic Theme(s): Finance, Economics
Credit Type: Duke Credit
Eligibility: Must have GPA of 3.0 or higher. Must complete ECON 201 and MATH 202 before program begins. Non-Duke students are not eligible to apply to this program.
Duke Affiliation: Co-sponsored by Duke’s Department of Economics
Housing: Residence Hall
GEO Advisor: Carolyn Covalt
All students will be registered for both of the following courses. Neither the pass/fail option, nor auditing is permitted.
Understanding Financial Bubbles and Crises
(SS) 1.0 Credit, Instructor: Caccavale
Pre-requisite: ECON 101
This course offered on the Duke in London Finance summer program examines the similarities/differences of historical financial crises from “Tulipmania” through the Great Recession of 2008 to better understand our current economic environment. The class 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 London financial community to provide an inside view and feel of the markets during those periods as well as current topics in the financial arena.
Please note that this is a new course for the Duke in London Finance program.
ECON 368A / PSY 368A
Behavioral Finance: A Taxonomy of Money Mistakes
(SS) 1.0 Credit, Instructor: Rasiel
Pre-requisites: ECON 201 and MATH 202 (Math 202, 212, 216, 218, and 222 are all acceptable alternates as pre-requisites for this class)
The European financial center, London, is an ideal location to learn more about how psychological biases affect financial market prices, both at the individual and aggregate level. This course mixes insights from the fields of psychology and decision-making to characterize some prevalent features of irrational behavior in financial markets. Visiting speakers from the London financial markets provide real-world examples of how irrational behavior can move markets, and visits to financial firms offer students the opportunity to see the financial markets in action via trading floor visits and panel discussions with market practitioners.
You should not anticipate having the opportunity to interview for a finance summer internship in London as a direct result of participating in this summer program. The London offices of investment banks hire interns almost exclusively from the U.K. and European schools, and do not typically interview students from U.S. schools or consider them for internships based in London. Nonetheless, the exposure to international financial firms, and networking opportunities with Duke alumni may prove valuable for students who wish to apply for U.S. or Asian-based financial market internships in a subsequent summer.
HOUSING & MEALS
You will be housed in a UCL residence hall in central London, near the British Museum and convenient to the underground and Theatre District. There are kitchen facilities in the residence hall and many inexpensive restaurants nearby.
These costs are estimated based on previous years’ programs and the current exchange rate. All costs are subject to change.
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Non-Duke students are not eligible to participate in this program.
The program fee for this program includes:
- International SOS coverage
- Program-sponsored activities and excursions
- Orientation program
What is not included?
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.
- Airport transportation to/from program site
- Local transportation
- Out-of-pocket medical expenses
- On-site accident and health insurance policy
- Visa and/or residency permit (if needed)
- Mobile phone
- Independent travel and entertainment
- Items of a personal nature
- Access to educational facilities at host university
- Textbooks and class materials
- Internet usage
U.S. citizens do not need a visa for this program. However, if you are not a U.S. citizen, you may need a visa. Please be sure to research the cost of obtaining a visa for Canada, including any required travel to a consulate or embassy.
If you receive financial aid, and need assistance with travel costs, please contact your financial aid counselor.
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. You can use a cost-of-living comparison tool to get an idea of what daily life costs in the program host location.
Step 1: Upon acceptance to the program, you must submit the Summer Participation Agreement found in your MyGlobalEd application to confirm your enrollment. A parent/guardian’s co-signature is required. This form takes the place of a deposit.
NOTE: If you withdraw after March 15, you will be charged a cancellation fee for voluntary withdrawal. Fees range from $1,500-2,000.
Step 2: Summer 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. Consult the Duke Bursar's office billing schedule for payment due dates.
Duke students receiving institutional need-based grant aid are eligible for aid for this program; work-study funds are converted to grants. Students are individually responsible for making the necessary arrangements with the Karsh Office of Undergraduate Financial Support and the Duke Bursar’s Office.
This program offers the following scholarship opportunities:
Attendance is required at all classes, excursions, and group events. Given the intense nature of this program, late arrival and/or early departure is not permitted.
- Arrival: June 27, 2020
- Departure: August 8, 2020
You will make your own travel arrangements to and from the program site. You are expected to arrive on the arrival date cited above, which usually means departing the U.S. one day prior. Once you have a flight itinerary, log in to MyGlobalEd to update your travel registry.
You will need to make your own housing arrangements if you will be arriving before the program start date or leaving later than the program end date.
VISA & PASSPORT
No visa is required of U.S. citizens to participate in this program. Non-U.S. citizens should pay special attention to the visa requirements for their specific citizenship by contacting the country embassy to find out if any visa restrictions are in effect.
All participants must have a valid passport. Make sure your passport has at least six months of validity beyond the program end date to avoid unintended disruptions. For instructions on obtaining or renewing your U.S. passport, visit passports.state.gov.
International Student Identity Card
An International Student Identity Card (ISIC) is optional. ISIC is the only internationally recognized form of student ID, endorsed by UNESCO. If purchased in the U.S., the card also carries with it a supplemental insurance policy, which can prove to be very helpful in the event of serious injury. You may purchase this card through www.myisic.com. Processing of the card takes between 4-15 days.
Program Faculty & Staff
The program faculty director(s) can assist with questions related to program academics, admissions, on-site needs, etc. For all other inquiries, please contact the Global Education Office.
GEO Program Manager
Deadline: February 1
This program has rolling admission. Applications will be considered on a first-come, first-served basis until the program fills; after that, qualified students are added to a waitlist and notified of openings. Applications must be received by the deadline to be considered. Application opens November 1.
Priority: Priority is given to applicants who apply early and meet the prerequisites.
Minimum GPA: 3.0 on a scale of 4.0.
Non-Duke students: Non-Duke students are not eligible to apply to this program.
*Special Note for First Year Applicants: Program acceptance cannot be determined until after Dean’s Checks are completed in January.
GEO policy for graduating seniors who wish to apply for a Duke summer study abroad/away program:
Students must be active, matriculated students in order to participate in any Duke-in summer programs, including Duke’s domestic summer programs. All program courses must be taken for graded credit. If seniors plan to graduate in May of the year they plan to study abroad in the summer, they will not be eligible to participate on any of our summer programs unless they receive approval from their academic dean at Duke to delay their graduation until after the summer program has ended.
Non-Duke students planning to graduate in May in the year they plan to study abroad in the summer must provide approval to delay their graduation until after the summer program has ended from the appropriate official at their home institution. Such approval must be furnished in writing to GEO before the student will be allowed to participate in the summer program. This approval may be sent via email to the appropriate program assistant at GEO.
Duke students who defer their graduation to participate in study abroad should consult with their financial aid advisor in the Duke Office of Undergraduate Financial Aid to determine whether they are eligible for a summer aid package and/or a GEO summer scholarship.
Start your application early to ensure that it is complete by the deadline! Incomplete applications will not be forwarded to the program directors for consideration.
Submit the following items using MyGlobalEd:
- Online application
- Official transcript(s) from all colleges and universities attended. First-year students should wait for fall semester grades to be posted before submitting their transcript.
- Personal statement, no longer than one page, explaining why you would like to participate
Once you submit an application, you will be asked to interview with the faculty director.