Summer School in Finance
The Summer School in Finance will take place from August 21 until August 25, 2023 and is organized by the Engelbert Dockner Foundation in cooperation with WU.
A group of graduate students, with a strong background in financial economics will attend this intensive short program and work together on the topic of endowment management and long term investing.
Thanks to the generous funding from the Engelbert Dockner Foundation, there is no tuition fee.
The program was excellent. It gave me the opportunity to interact with students from all around Europe and collaborate with them, as well as some unique insights regarding endowment management. The university provided very high-quality teaching and the opportunity to learn and connect with professionals from both, the industry and academia. A great way to learn more about endowment management and network with new colleagues.
Federico Sciullo, participant in 2022
The academic program will be taught by instructor Youchang Wu, Associate Professor of Finance, John B. Rogers Research Scholar, University of Oregon. The program is about endowment management and long term investing and is designed for graduate students interested in the field. Good quantitative skills and/or practical experience would be helpful.
|lectures||daily 9 a.m. to 1 p.m. plus afternoon activities|
|class size||~ 20 students|
Institutional backgrounds of endowment management: asset allocation, performance, spending rate, target return, investment policy statement
Static portfolio choice: mean-variance optimization, CAPM, socially responsible investing
Dynamic portfolio choice: buy-and-hold vs. rebalancing, strategic vs. tactical asset allocation, hedging demand
Factor investing: Asset pricing anomalies, multifactor models, downside risk, factor allocation process
Delegated investing: Agency issues, compensation schemes, alternative assets (hedge fund, private equity)
Performance attribution and evaluation
The Endowment Management and Long Term Investment School for me was a unique way to enhance my financial knowledge with quantitative skills, learn from a renowned professor in the field, and have an opportunity to meet and work alongside equally motivated financial economics students from top universities.
Ioana Ciceo, participant in 2022
Applicants should send their resume, a short statement of purpose along with a copy of their undergraduate certificate and their current enrollment. Selection will be based on academic qualification and class diversity. Applications are open between February 15 - March 31, 2023. Please use the application form below (the form will be active starting February 15, 14:00).
Who can attend this summer school?
Graduate students with a strong background in financial economics who are interested in topics of endowment management/long-term investing.
I am not a WU student - can I apply for this program?
Yes, this is possible. In particular, students from abroad are cordially invited to apply.
Do you offer any funding for housing/traveling?
Unfortunately not, however, thanks to the generous funding from the Engelbert Dockner Foundation, there is no tuition fee.
I am not sure if I have sufficient quantitative skills - can you take a look at my documents before I apply?
No, this is not possible. Please understand that due to the high volume of e-mails and requests we receive, we, unfortunately, cannot individually evaluate eligibility for this Summer Program.
We ask you to please self-evaluate using the syllabus (see above under "content").
How many credits does this summer program have?
When does the summer program take place?
From August 21 till August 25, 2023.
I won't be in Vienna during this period - is it possible to attend the summer program online?
No, this is not possible. The summer program will take place completely on campus.
How many students can participate, in total?
Around 20 students.
I am interested - how can I apply?
You can apply via the application form on this website (see above).
Which documents do I need to submit for my application?
Please submit your CV, a short statement of purpose (max. 1 page) along with a copy of your undergraduate certificate and your current enrollment.
When does the application deadline end?
On March 31, 2023, 12:00 noon (CET).
I have further questions. Who can I contact?
Please contact Ms. Dragana Pajic (firstname.lastname@example.org) for further questions.