Archive for international finance and economic policy

SIPA Students Compete in the Total Impact Portfolio Challenge

On May 1st, a team of five SIPA graduate students represented Columbia University in Philadelphia for the inaugural Total Impact Portfolio Challenge, organized by the Wharton Social Impact Initiative and the Good Capital Project. After months of preparation, the Columbia team was one of five out of 25 teams who earned advancement through two initial rounds to the final presentation round of the competition, which began in August 2018. The final presentation was made during the 2nd annual Total Impact Conference.

The Columbia team members are Alecia Hill MPA ’19, Ji Qi MPA-DP ’19, Marc Tannous MPA ’19, Kingsly Wang MIA ’19, and Mingyi Xu MIA ’19 (pictured above). They were very proud to represent Columbia and to have been selected for the final round. They would like to thank the many advisors who helped them throughout the process, including Anna Ginzberg (U.S. Trust), Cary Hanosek (Merrill Lynch), Ethan Powell (Impact Shares), Andrew Hornung (Brookmont Global Eguity), Professor Inna Okounkova, Professor Deborah McLean, and Professor Colm O’Cinneide.

The Total Impact Portfolio Challenge is designed to train students to construct and execute a 100% impact portfolio, incorporating publicly traded securities and private investments to achieve a market rate of return and specific impact targets according to the mandate of a hypothetical client.

The Good Capital Project (GCP) is a collaboration to drive more capital towards purpose-driven investments. Founded in 2017, GCP is an Intentional Media Company. Sharadiya Dasgupta is the Managing Director of GCP and is a SIPA alumna (MPA ’17, Economic Policy).

Interested in Learning about Impact Investing?

We asked the team what advice they would give for incoming and prospective students if they want to learn about impact investing:

Join the Columbia Impact Investing Initiative (CI3) and apply to be a CI3 consultant or a MIINT team member.

If you are interested in the Total Impact Portfolio Challenge (TIPC), consider applying your second year. The process begins in August and is greatly benefited by experience – including in CI3 – connections, and relevant coursework. It would be helpful for your TIPC team to have at least one person with substantial investment / portfolio optimization experience (and ideally a CFA charter holder).

For students interested in impact investing, explore courses in the following areas:

  • Courses focused on the implementation of impact, such as: Community economic development; social value investing; PPP.
  • Courses focused on the measuring and evaluation of impact, like: Impact investing courses; impact frameworks and tools like the GIIN’S IRIS, GIIRS, Toniic; and ESG standards like MSCI, Arabeque, Sustainalytics, and Bloomberg.
  • Courses focused on traditional finance and quantitative skills, including Statistics, International Capital Markets, Multi-Asset Portfolio Management, and non-SIPA courses. (SIPA students can cross-register at other Columbia University graduate schools, including Columbia Business School.)

Course Recommendations by Concentration and Specialization

If you’re in NYC and have some time to visit SIPA, sit in on a class! As some of you have read in my self-introduction, the class I sat in on way back in Spring 2017 was what made me send in that deposit and come to SIPA. Here are some second-year students’ recommendations for which classes to sit in by concentration and some specializations! While not all of these classes may be available for Spring 2019, this is a good framework to consider what you want to explore.

CONCENTRATION

Economic and Political Development

“As an EPD student specializing in Sub-Saharan Africa, I vividly recommend Yvette Christianse’s “Unheard Voices” class. Professor Christianse manages to blend emotions and knowledge. She listens to and cares about all her students. Attending this class enables you to combine creative writing with literary reviews. Contrarily to previous “African” classes I attended, Yvette Christianse manages to make a distinction between all Sub-Saharan African states and to develop strong arguments on each region, while remaining intrinsically open-minded about students’ perspectives and opinions.” — Claire Pictet

Energy and Environment

“I would definitely recommend ‘INAF U6326: Renewable Energy Project Finance Modelling.’ It’s a 1.5 credit course that does not require a finance background. The course-load is heavy, but definitely a worthwhile learning experience. Students can gain a snapshot of the contracts, financial models and risks associated with renewable infrastructure projects. The financial modelling skills are very practical and marketable for various careers opportunities in the energy sector.” — Katie Choi

Human Rights and Humanitarian Policy

“I would recommend ‘Politics of History and Reconciliation’ with Professor Barkan. The class is about historical memory and the extent to which it plays a role in grappling with atrocities and human rights abuses. Sessions are always very animated, and almost every topic we look at– from collective trauma, to the interplay between court cases and historical records– inspires real-time reflection and debate. It is also a great class to take if you want to take a look at human rights and their violations over time from an unorthodox perspective.” – Amir Khouzam

International Finance and Economic Policy

“For IFEP students interested in taking specific regional banking class, i would recommend taking up ‘European Banking INAF 6021’ with Prof. Irene Finel-Honigman. Professor Honigman provides great insight into European banking history with her vast knowledge on the region. The class will consist of weekly discussions on specific European countries and their banking industry. There will also be a few cases on the large European banks and how they are crucial to the world economy. And if you are lucky enough, there are several guest speakers that come to the class to further enrich the students’ knowledge.” — Panji Caraka Djani

International Security Policy

“‘Methods of Defense Analysis (U6825): Defense Policy Analysis’ is one of the most important skills sought by employers in the Defense and Security sector. The Methods of Defense Analysis course is designed to teach students the skills necessary to handle the responsibilities of an entry-level defense analyst within the government as well as think-tanks. The course emphasizes research design and defense analysis methodologies and throughout the course, students will conduct a number of case studies published by various think-tanks. The course also affords students an opportunity to apply the basics of quantitative analysis to a course relevant to the ISP concentration. Of equal importance, the course professor, Dr. Stephen Biddle, is an accomplished academic and an amazing professor that makes a tough subject enjoyable.” — Clayton J. Dixon

Urban and Social Policy

“One of the more unique courses at SIPA, ‘GIS For International Studies’ helps students develop practical skills with Geographic Information Systems (GIS), Global Positioning Systems (GPS), and remote sensing technologies. The class is fairly hands on and has some real applications for policy analysis and practices at global and also regional levels. Particularly recommended for those interested in land use, population trends, and urban planning.” — Molly Dow

SPECIALIZATION

Gender and Public Policy

“‘HPMN P8578 Money, Politics & Law: Public Health & Abortion: I chose the course because I had no context or knowledge of abortion policy in the United States beyond what I’d read in the media, or what I knew about Roe V. Wade. The class was incredi’bly informative and probably one of the best classes I took at Columbia. The history of abortion policy extends far beyond Roe. V. Wade and the course explored every aspect of abortion policy from a political and legal perspective. I highly recommend this course, though it is only offered in the Fall semester. I loved the class so much I briefly considered going to law school because of it (very briefly).” — Niara Valério

International Organization & UN Studies

“The class (‘Governance and Management in the UN System (INAF U8560)’) taught by Professor Bruce Jenks exposed me to the managerial and administrative aspects of the United Nations. It was an eye-opening class for me that offered more realistic views on the Organization’s function and working methods. It also forced me to think about innovative and feasible ways to transform the UN to respond to today’s complex challenges worldwide. With his incredible expertise, knowledge, and experience having worked in UNDP, Professor Jenks provides honest perspectives on the future of the UN–and multilateralism–in this class. And I believe this class is one of the most critical classes for anyone aspiring to work for a multilateral organization to take to think beyond theories and to prepare themselves to tackle real-life challenges in a practical manner.” — June Ban

Technology, Media, and Communications

“The Technology, Media and Communications Specialization provides students several different paths to study the increasingly relevant and headline defining policy issues connected to how technology is impacting our media and politics. For those interested in cyber-security issues, a great way to be introduced to the topic is through Professor Healy’s ‘Dynamics of Cyber Power and Conflict,’ where he teaches about the national security threats, challenges, and policy responses to a major cyber incident. Additionally, for students interested in media and communications, ‘Media Campaigning and Social Change,’ taught by Professor Anya Schiffrin, the director of the program, examines how media, social media and NGOs can take on a campaigning role in raising awareness about social problems and holding authorities accountable.” — Shalaka Joshi

Class visits for the Spring 2019 semester are now open, and you can sign up here! This blog post may help you with decoding SIPA courses.

Why I chose International Finance and Economic Policy as a Concentration

When I was looking at graduate schools initially, I knew I wanted to focus on my three interests: women’s economic empowerment, entrepreneurship and finance. It was very important for me that I found a school that allowed me to pursue all three. The International Finance and Economic Policy concentration was ideal in that it provided me with coursework in both finance and economics.

My first year courses included macroeconomics and microeconomics, as well as corporate finance and international capital markets. All of which gave me a strong background in financial and economic policy and allowed me to apply the skills I learned in the classroom in a real world context. The International Finance and Economic Policy concentration is also ideal in that it has three separate tracks: International Finance, International Economic Policy, and Central Banking. This meant that I could tailor my coursework to focus specifically on international finance.

I chose the International Finance track because I knew that my interest in promoting women’s economic empowerment through entrepreneurship required that I have knowledge of accounting, corporate finance, as well as emerging financial markets. Additionally, the International Finance and Economic Policy concentration had a global focus, which allowed me to look at financial systems and economies on an international scale. This was very important to me considering that my main interest is to help women entrepreneurs and 51% of SME’s globally are owned and operated by women. Additionally, my specialization in Gender and Public Policy was a great way for me to combine my interests in both finance and gender. Much of the work that I did in my IFEP classes served me well in my gender classes, particularly in the realm of evaluating economic and financial systems through a gender lens.

Photo Source: Carol M. HighsmithPublic Domain

Treasury official joins SIPA as scholar

Patricia C. Mosser, a leading economic researcher with 25 years’ experience at the U.S. Treasury and Federal Reserve Bank of New York, will join Columbia SIPA as a senior research scholar and senior fellow in international finance. She will also serve as founding director of SIPA’s new initiative on central banking, monetary policy, global finance and prudential practice.

Mosser, whose appointment at SIPA will begin on June 1, has spent the past two years as deputy director in charge of research and analysis for the Office of Financial Research (OFR) at the U.S. Treasury Department. Before joining OFR Mosser worked from 1991 to 2013 at the Federal Reserve Bank of New York. Read More →

Why study International Finance and Economic Policy (IFEP) at SIPA

New York City, the financial capital of the world and the commercial capital of the United States, is the logical location for the leading policy program on international finance and trade.  Our faculty flourish here, as they could not do in places such as Maryland, Massachusetts, Paris or Singapore.  Our faculty have both academic credentials suited to an Ivy League university and up-to-date experience with how markets function—-we do not have to compromise.  Columbia has always drawn top students who would not want to study anywhere else, from Alexander Hamilton (the nation’s first Secretary of the Treasury and founder of the New York Stock Exchange) to Warren Buffet.

Internships, capstone workshops and ultimately jobs for IFEP students that can be found in New York City are unrivaled.  The top 5 banks or investment banks in the world in terms of fee revenues are headquartered here, as are 45 of the Fortune 500 companies. Two-thirds of the world’s hedge funds lie within 20 miles of SIPA.

Many things in New York City are big and so is the IFEP concentration.

With approximately 110 graduates each year, it is believed to be the largest such concentration among major policy schools.  Scale means a bigger network of graduates, more courses and a bigger reputation.

While most IFEP students find satisfying jobs, no graduate education can guarantee a particular result.  Students should keep in mind that job offers will depend on experience before coming to SIPA, immigration policies in the country where they wish to work, performance as a student, the economy at the time they graduate and a measure of good luck.

"The most global public policy school, where an international community of students and faculty address world challenges."

—Merit E. Janow, Dean, SIPA, Professor of Practice, International and Economic Law and International Affairs

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