4th Advanced Summer School in Economics and Econometrics, 2-9 August 2009

The 4th Advanced Summer School in Economics and Econometrics will be held in August 2-9, 2009 at the University Campus in Rethymno, Crete. This initiative by the Department of Economics is expected to be very valuable for researchers and PhD students who are interested to keep up with recent developments in leading issues in Economics and Econometrics and it will offer the opportunity to interact with leading scholars of the academic profession. It offers a stimulating environment for young doctoral students, faculty members, professional economists, researchers and econometricians who work in support of decision making in government agencies as well as the private market to discuss intensively common objectives and concerns related to topics presented by an international faculty.

Up to 26 students will be accepted to the program.

Course Objectives

At the conclusion of this course, students will be able to describe the key psychological concepts that underlie the study of behavioural finance. These concepts roughly fall into two categories: (1) framing effects and (2) heuristics and biases. Students will learn to apply these concepts to the behaviour of investors, the behaviour of corporate managers, and the character of asset prices. The course teaches students to identify and explain how psychological elements influence the manner in which investors construct portfolios, how corporate managers make decisions about capital budgeting and capital structure, and how market prices reflect investor sentiment.

Lecture topics covered

* Asset pricing with heterogeneous beliefs and preferences
* Psychological contributions of Kahneman and Tversky
* Behavioral portfolio selection
* Behavioral asset pricing: sentiment, overreaction, and under reaction
* Behavioral corporate finance

Eligibility
The applicants for the Summer School are expected to have at least a Master’s degree in economics and/or econometrics or in relevant subjects with a strong background in economics and currently be engaged in academia. Some may be chosen from outside academia (e.g., government, private sector, NGOs), if they have the minimum academic qualification and relevant experience. In the description of the course, there is an indication of the background in econometrics, finance, economic theory or other subjects that participants should possess in order to take full advantage of the course. In addition, participants must have a good knowledge of the English language.

All these are, however, basic guidelines, and all cases will be considered on their own merits.

Fees
Registration fees (payable by bank transfer) will be 1,500 € and include:

* Accomodation for seven (7) nights,
* Two (2) coffee breaks during classes,
* Daily lunch,
* A welcome reception,
* A gala dinner in a local tavern,
* An excursion to Knossos,
* All teaching materials (i.e. class notes, program codes).

Application deadline April 1, 2009

The Summer School Website is: http://assee.soc.uoc.gr/about/index.html