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Prof Robert F Engle, a world-renowned economist and the 2003 Nobel laureate in economics, will speak on the “Prospects for Global Financial Stability” at the Nobel Laureate Lecture co-organised by the University of Macau’s (UM) Faculty of Business Administration and Asia-Pacific Academy of Economics and Management. In the lecture to be held on 25 November, Prof Engle will share his views on global financial stability. He will also discuss a method to estimate how much capital a financial firm would need to raise if another financial crisis were to occur.

Prof Engle was awarded the 2003 Nobel Prize in Economics for his research on the concept of autoregressive conditional heteroskedasticity (ARCH). He developed this method for statistical modelling of time-varying volatility and demonstrated that these techniques accurately capture the properties of many time series. His ARCH model and its generalisations have become indispensable tools not only for researchers, but also for analysts of financial markets.

After receiving his PhD degree in economics from Cornell University in 1969, he began teaching at the Department of Economics at MIT. Later, in 1978, he joined the University of California, San Diego, where he taught until retiring in 2003. Currently he is a Michael Armellino Professor of Management and Financial Services at New York University Stern School of Business.

The lecture will be held on Tuesday 25 November in Room G078, Anthony Lau Building (E4), UM. It will begin at 3:00pm and be conducted in English, with simultaneous interpretation into Putonghua. Live broadcast will also be available in Room G062. All are welcome. Those who are interested should register at https://isw.umac.mo/evm/register/robertengle. Seats are available on a first-come, first-served basis. For enquiries, please call 88224799 or email to kelmenyeung@um.edu.mo.

Media Contact Information:

Communications Office, University of Macau

Albee Lei   Tel：(853) 88228004

Kristy Fok  Tel：(853) 88228006

Email：prs.media@um.edu.mo

UM Website：www.umac.mo

20/11/2014