Duke in London-Finance


Program Alert

Due to a high volume of applications, Duke in London - Finance is now closed to new applications for summer 2024.


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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. The program incorporates two full-credit courses that address broad issues in finance, including a financial crises class that addresses causes and outcomes of a number of market bubbles and crashes, as well as a behavioral finance class that examines how market participants make decisions given known psychological biases. 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

Term: Summer II

Dates: June 29, 2024 - August 10, 2024

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 101. Completion of MATH 202 is beneficial, though not required. Non-Duke students are not eligible to apply to this program.  

Duke Affiliation: Co-sponsored by Duke’s Department of Economics

Housing: Residence Hall

Primary Contacts:

Emma Rasiel (program-specific questions)

Christine Lee (GEO-related questions)


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 examines the similarities/differences of historical financial crises from “Tulipmania” in 1636 through the Credit Crisis of 2008. The class explores the regulatory changes that are enacted post-crisis and discusses factors we would employ to prevent future economic bubbles/crises. We will examine the impact of speculation, market fear/greed, fraud and corruption, financial instruments and regulations of past bubbles to attempt to predict and avoid future financial bubbles and crises. The course will look at specific financial crises in various markets ranging from industries (The Railway Mania of 1854) to stocks (The 1929 Stock Market Crash) to currencies (The European Monetary Collapse of 1992) to debt/asset (The Credit and Housing Crisis of 2008) and to exogenous financial market shocks (Covid-19). 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.


FECON 368A / PSY 368A
Behavioral Finance: A Taxonomy of Money Mistakes

(SS) 1.0 Credit, Instructor: Rasiel

Pre-requisites: ECON 101.  (Completion of ECON 201 and any of MATH 202, 212, 216, 218, or 222 would be beneficial, but is not required)

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. Throughout the course, visiting lectures from London-based finance executives will provide real-world color on the topics that we discuss in class. Further insights will be gained via site visits to financial firms’ offices, where we will learn about London’s role as the multi-cultural European financial center. Each class will begin with a discussion of a current news item or story from one of the leading British newspapers that morning, in which a particular behavioral bias or probability error is explicitly identified. 

On Internships

Applicants 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.


There are typically 6-8 required excursions, mostly to financial firms in London, to meet with alumni in the financial markets who offer panel discussions to talk about current financial market issues and activities. Other required excursions have included a visit to the Bank of England. The program also includes optional tours in London and elsewhere in England that are location-specific rather than academically related. Tours in recent years have included: a private tour to the Houses of Parliament; a day-long visit to Oxford; a London play; a trip to the Tate Modern Art Gallery; guided walking tours in various parts of London. Excursions and activities for summer 2024 are still being worked on.


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.

Summer 2024

  Duke Students
Tuition $5,680
Program Fee


Transcript Fee N/A
Other Costs Other Costs
TOTAL (Estimated): $17,430

Non-Duke students are not eligible to participate in this program.

Costs FAQs

Financial Aid

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 29, 2024 
  • Departure: August 10, 2024 


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, please log in to MyExperiential to update your travel registry.

Housing Before/After

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.



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. Please use this website for more information: https://www.gov.uk/check-uk-visa.


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.

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.

Faculty Directors

Emma Rasiel

Professor of the Practice of Economics

John Caccavale

Executive in Residence of Economics

GEO Program Manager

Christine Lee

GEO Program Coordinator / Advisor


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. Applications open on November 1.

Priority: Priority is given to applicants who apply early and meet the prerequisites.

Eligibility: Must have GPA of 3.0 or higher. Must complete ECON 101. Completion of MATH 202 is beneficial, though not required. 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.

Physical Requirements

Before applying to this program, you should assess and determine if you are physically or emotionally able to participate in the following physical demands required by some of this program’s activities:

  • Walking approximately a mile in a day, sometimes for two or more days in a row, sometimes on hilly, uneven, or cobbled terrain
  • Climbing and descending stairs
  • Using public transportation, including sometimes crowded buses or trains
  • Standing during tours and site visits
  • Entering into older buildings with narrow and sometimes steep staircases, at times with limited or no access to elevators
  • The possibility of warm/hot temperatures while residing in locations without air conditioning

If you have questions or are concerned about these or any other program activities, please contact the Duke Office of Global Health and Safety (oghs@duke.edu)


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 MyExperientialEd:

  1. Online application
  2. 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.
  3. A personal statement, no longer than one page, explaining your interest in international financial markets, and this program
  4. Resumé

Once you submit an application, you may be asked to interview with the faculty director.