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Finance

MUFG Bank Distinguished Professor of International Finance

Professor of Finance

Faculty Director, EMBA Program

Portrait of Sergio Rebelo, Faculty at the Kellogg School of Management

Sergio Rebelo is the MUFG Bank Distinguished Professor of International Finance at the Kellogg School of Management, where he has served as Chair of the Finance Department.

Professor Rebelo does research on macroeconomics and international finance. He has studied the causes of business cycles, the impact of economic policy on economic growth, and the sources of exchange rate fluctuations. His research has been funded by the National Science Foundation, the World Bank, the Sloan Foundation, and the Olin Foundation.

He is a fellow of the Econometric Society, the National Bureau of Economic Research, and the Center for Economic Policy Research. He has been a member of the editorial board of various academic journals, including the American Economic Review, the European Economic Review, the Journal of Monetary Economics, and the Journal of Economic Growth.

He has won numerous teaching awards at the Kellogg School of Management, including the Executive Masters Program Outstanding Professor Award and the Professor of the Year Award.

Professor Rebelo has served as a consultant to the World Bank, the International Monetary Fund, the Board of Governors of the Federal Reserve System, the European Central Bank, the European Commission, the McKinsey Global Institute, the Global Markets Institute at Goldman Sachs, and other organizations. He received his Ph.D. in Economics from the University of Rochester.

About Sergio
Research interests
  • Business cycles
  • economic growth
  • exchange rates
Teaching interests
  • Macroeconomics
  • international finance
  • PhD, 1989, Economics, University of Rochester
    MA, 1987, Economics, University of Rochester
    MS, 1985, Operations Research, Technical University of Lisbon
    Licenciatura, 1981, Economics, Portuguese Catholic University
  • Tokai Bank Distinguished Professor of International Finance, Kellogg School of Management, Northwestern University, 1997-present
    Chair of Finance Department, Kellogg School of Management, Northwestern University, 2000-2002
    Associate Professor, University of Rochester, 1992-1997
    Director, Portuguese Catholic University, 1991-1992
    Associate Professor of Finance, Kellogg School of Management, Northwestern University, 1991-1992
    Director, Portuguese Catholic University, 1991-1992
    Assistant Professor, Portuguese Catholic University, 1990-1992
    Research Coordinator, Bank of Portugal, 1990-1992
    Assistant Professor of Finance, Kellogg School of Management, Northwestern University, 1988-1991
    Instructor, Portuguese Catholic University, 1981-1984
  • Martin E. and Gertrude G. Walder Award for Research Excellence, Northwestern University
    35 Executive MBA Program Outstanding Teaching Awards, Kellogg School of Management
    Northwestern University's Martin E. and Gertrude G. Walder Award for Research Excellence, 2012
    Sidney J. Levy Teaching Award, Kellogg School of Management, 2010-2011, 2008-2009, 2006-2007, 2003-2004
    Faculty Impact Award, Section 61, 2010-2011
    Science Prize, Gulbenkian Foundation, 2008
    Best alumnus award ("Premio Carreira"), Portuguese Catholic University, 2007
    Kellogg Alumni Professor of the Year Award, Kellogg School of Management, 2007
    L. G. Lavengood Outstanding Professor of the Year Award, 2007
    Best alumnus award (Pr, Portuguese Catholic University, 2007
    EMP 70 Outstanding Professor Award, 2007-2008
    Order of Santiago da Espada (Grand Oficial) granted by President of Portugal, 2006
    National Science Foundation Grants: SBR-9511916 (1995-98) and SES-0137063 (2002-05), and SES-0721321 (2007-2009)
    Olin Fellowship, National Bureau of Economic Research, 1992-1993
    Alfred P. Sloan Doctoral Dissertation Fellowship, 1987-88
    18 Times Winner of Executive Masters Program Outstanding Professor Award
    Doctoral Fellowship, National Institute for Scientific Research, 1984-87
    Olin Fellowship, National Bureau of Economic Research, 1984-87
    Executive Masters Program Outstanding Professor Award, Kellogg School of Business and Management
    University of Rochester Fellowship, 1984-87
    W. Allen Wallis Fellowship, 1986-87
  • Associate Editor, Journal of Monetary Economics, 1995-Present
    Advisory Board, Carnegie-Rochester Conference on Public Policy, 1992-1994
    Associate Editor, Journal of the European Economic Association, 2003-2004
    Associate Editor, Journal of Economic Growth, 1997-2004
    Associate Editor, American Economic Review, 1995-2001
    Associate Editor, European Economic Review, 1995-1998

International Finance (FINCX-470-0)

"Managing an international business or one exposed to global competition requires an understanding of international financial instruments, markets and institutions. This course seeks to provide you with a working knowledge of these issues. The topics we cover include: the nature of foreign exchange risk, the determination of exchange rates and interest rates, the management of foreign exchange risk with forwards and options, exchange rate forecasting, the evaluation of international investments, currency speculation, the impact of monetary policy on exchange rates, and current developments in the international financial system. Hybrid Courses: Kellogg’s hybrid courses combine the convenience and flexibility of online learning with the social and instructional benefits of face-to-face classroom experiences. Students engage in online interactive instruction and guided practice, freeing up valuable in-person class time for in-depth case study discussions, collaborative problem solving, and student-driven question and answer sessions. The hybrid courses have the added benefit of exposing students to media-enriched, documentary- style lectures that capture the expertise and stories of the renowned Kellogg faculty members who designed them. These courses will also deepen global connectivity by allowing students to participate in a portion of the coursework from the location of their choosing prior to arriving on campus. Format and Schedule: The hybrid courses will comprise both online and on-campus components. Each course will have approximately nine hours of face-to-face instruction over three days on-campus. The online portion of the course will be available to students in the weeks preceding (precise timing to be determined) and students could complete this content at a time of their choosing before the on-campus sessions. In other words there is no synchronous online content. The content will be housed within Canvas. Each course will be worth 1 unit. If students participate in these courses, they must take both not just one."

The World Economy (FINCX-452-0)

The world economy is undergoing a period of very rapid change. Understanding this change is essential to make sound investment decisions that position companies for future profitability. In this course we study the most important business regions in the world, including the U.S., Europe, Japan, China, India, Russia, Eastern Europe, Latin America, and Africa. The goal of this course is to provide students with a working knowledge of the economic drivers, challenges and opportunities that are present in these regions. The course also discusses the performance of equity and bond markets in different countries and the economic forces underlying oil and other commodity markets.