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Independent Work Requirement

In addition to completing the core and elective course requirements, all finance certificate students must write an independent work in finance.
  • ECO majors must write a senior thesis with significant finance content.
  • ORF majors must write either a senior thesis (ORF 478) or an independent project (ORF 479) deemed equivalent by the ORF department. In either case, the independent work must contain significant finance content.
  • Certificate students concentrating in other departments have the option of incorporating finance into at least one chapter of their senior thesis, focusing their junior paper written under the direct supervision of a faculty member assigned to them by their department, or submitting a separate independent paper.
Non-ECO/ORF students who would like to submit an independent paper can choose to:
  • Submit a paper done in conjunction with one of the two core courses (ECO 362 or ECO 363)
  • Write a separate independent paper.  All independent papers should be at least 12-15 pages long and contain significant finance content. If an advisor is needed to help with the independent paper, the PR will assign a master in finance student for one semester during their senior year.
There is a wide range of possibilities for topics that could satisfy both the program and a department. Some examples: in Art and Archaeology, art prices as reflections of changing cultural and aesthetic tastes; in Civil and Environmental Engineering, the financial feasibility of wind farms; in English, literary portrayals of the social effects of economic depression; in History, the history of the Japanese stock exchange; in Music, the funding of 18th century composers; in Politics, the changing character of securities regulation; in Psychology, any topic in behavioral finance.
The Program Representative (PR) can provide advice about the suitability of a proposed topic.
In all cases, the primary thrust of the independent work is issues or methods drawn from finance.
Deadline for the independent work:
  • Senior Thesis deadline is the same deadline as for your department major
  • Independent Paper deadline is Dean’s Date for spring term.

All papers will require a one paragraph summary or abstract of the paper’s finance content and the name of the advisor who assisted with the thesis or paper. The PR will review all papers and confirm that the work did indeed include significant finance. Faculty advisors who are uncertain about whether the finance requirement has been satisfied are encouraged to ask the PR for his opinion.

2012 Senior Thesis and Independent Work by Major
The Impact of the Global Financial Crisis on Momentum Profits in the Commodity Futures Market
Sterling Biomedical, Inc
Playing in the Markets: A Reinforcement Learning Approach to Automated Market Making
Weather to Buy or Sell: How Sunshine Changes Wall Street’s Performance
Modeling Cascading Failures in Financial Networks James Luo ECO Asset Pricing Implications of Information Asymmetries in Large Investor Networks
Can Algorithmic Trading Strategies Outperform Benchmark Indices? An Empirical Test of the Efficient Market Hypothesis
Credit Rating Agencies and Ratings Inflation
Deconstructing the Wage Premium in the United States Investment Banking Industry
Macroeconomics of the Medium Run
Sustainability Sentiments: Evidence from Constituent Changes to the FTSE4Good
A Ratings Roadblock: How the Issuer Pay Model Left Rating Agencies Unable to Properly Rate Debt
How Yesterday’s Merchants of Venice Led to Today’s Margins and Volatility: An Intermediation-Based Comparative Approach to the Leverage Cycle
An Empirical Analysis of the Liquidity and Tax Disadvantage of Tips and Their Effect on Treasury Borrowing Costs
Price Divergence Between Dual-listed A and H-shares: The Roles of Speculation, Market Liquidity, and Arbitrage
A Test of the Expectations Hypothesis of the Term Structure of Sovereign Credit Default Swaps: Is Sovereign Risk Premium Time-Varying?
Are You in or Are You Out: The Effect of Social Interaction on Household Market Participation in a Post-Crash Market
Post-Acquisition Anomaly Revisited
Battle-Ready Behavior: Market Volatility and Corporate Finance Through the Financial Crisis
“Spillovers” from the Environment to Equities: Investor Sentiment from Oil Spills and U.S. Stock Performance
Passenger Reaction Aboard a Sinking Ship: Market Response to the Events of the European Sovereign Debt Crisis
Internal Migration in the Great Recession: Trends, Determinants, and Returns
Agricultural Commodity Futures: Evidence on Seasonality and Forecast Power
The Efficiency of the Chinese Stock Markets: An Empirical Analysis of Pricing Anomalies in the Context of Disagreement Models
The Impact of High-Frequency Trading on Market Quality in Systematically Volatile Equity Markets
China and India Firms & Limitations of Event Study Method
The Application of a Four-Factor Asset-Pricing Model in the Chinese Stock Market
Understanding Catastrophe Bond Pricing: Empirical and Theoretical Approaches
Bank-Dependent versus Bond-Issuing Firms: An Analysis of Monetary Tightening in India
Effect of Acquirers’ Venture Capital-Backing On Their Announcement Period Abnormal Returns
Executive Turnover and Firm Performance in Brazil: An Empirical Investigation
The Effect of U.S. Unemployment Rate Announcements on Chinese Stock Returns: A Comparison of Pre- and Post-Chinese W.T.O. Accession
A Comparison of Bank Competition Indicators and their Relation to Financial Access
An Empirical Study of Return and Volatility Spillover Effects of Cross- Listed Companies across Hong Kong, Chinese, and US Markets
A Macro Stress Testing Framework of Liquidity Risk in the Latin American Banking Sector
Game of Trends: Institutional Ownership, Short Selling, and the Post-Earning Announcement Drift
Hospice Ownership: The Impact of Profit Status on the Quality and Cost of End-of-Life Care in California
Information Shocks and Bubble Crashes
Exploring the Effects of Sports Lockouts on Attendance in the NBA and NHL: Are Sports Substitute Goods?
An Analysis of RMB Valuation on the Yield of Dim Sum Bonds: Macroeconomic Factors and Evidence from the Non-Deliverable Forwards Market
Do the Size Effect and Price-to-Book Effect Exist in India
Building an Algorithmic Trading Platform & Developing Automated Trading Algorithms
Online Payment Systems for the News Industry
Financial Viability of Soil Carbon Sequestration in the Amazon: Opportunities and Challenges
Rising Dragon and Crouching Peacock: A Comparative Event Study of Shareholder Value Effects of Cross-Border Acquisitions by The House that Wald Built: An Examination of the Holistic Approach to Healthcare at Lillian D. Wald’s Henry Street Settlement
The Relative Performance of Equal-Weighted and Cap-Weighted Portfolios Across s Deciles
Analytical Approaches to Calculating Value-at-Risk of a Quadratic Approximation of a Stock and Options Portfolio
“Heterogeneous Beliefs, Short Sales Constraints and German Equity Returns Around Earnings Announcement Dates”
Online Portfolio Selection in U.S. and Emerging Markets Equities
Adding the Missing Player: The Effect of Including Consumers in the Oil Futures Market
Imitating Masters: On Replicating the Investment Returns of Fine Art
Analyzing, Modeling, & Trading the NASDAQ Crosses
Over or Under: Using Machine Learning Techniques to Beat NCAA Football Totals
A Comparison of Methods of Pricing Spread Options in Markets with Transaction Costs
Explaining Credit Default Swap
Simulation Techniques for Bayesian Image Recovery in Lenz-Family Models
Grid Impacts of Charging Electric Vehicles in Urban Areas: A Case Study of Queens, NY
Replication and Comparison of Commodity Futures Trading Strategies
Natural Gas Power Generation in the Presence of Wind: A Mixed Integer Linear Programming Approach to the Hour-Ahead Unit Commitment Problem
Analyzing the Regional Greenhouse Gas Initiative: A Model of Carbon Dioxide Emissions in New Jersey
Application of Recombining Stochastic Volatility Trees
Too Big to Fail: A Market Study of the Banking Consolidation Phenomenon on Wall Street
Future Prospects of OPEC and the Oil Market
Dynamic Pricing of Electric Vehicle Charging Locations: An Application of Optimal Learning
Leading Industries: Evidence from Emerging Markets and Application of Regime-Switching Models
An Examination of Firm Value and Leverage Under the Modigliani-Miller Propositions and Agency Theory
To Get Rich is Glorious: The Politics of Stock Issuance in the Chinese Capital Market
Understanding the Biases that Affect Investment Behavior and the Subsequent Market Outcomes
Politics over Property: Effects of the Housing Market on Presidential Approval and Public Opinion
Sovereign Debt: Levers Long Enough to Move the Earth