Richard Marston

Richard Marston
  • James R.F. Guy Professor Emeritus of Finance

Contact Information

  • office Address:

    2438 Steinberg-Dietrich Hall
    3620 Locust Walk
    Philadelphia, PA 19104

Research Interests: foreign exchange risk management, international asset pricing, international investments

Overview

Education

PhD, Massachusetts Institute of Technology, 1972; BPhil, University of Oxford, 1968; AB, Yale University, 1966

Career and Recent Professional Awards; Teaching Awards

German Marshall Fund Fellow, 1981; Sanwa Bank Award, 1992

Academic Positions Held

Wharton: 1977-present (Director, Weiss Center for International Financial Research, 1992-present; Acting Director, U.S.-Japan Management Studies Center, 1989-91; named James R.F. Guy Professor of Finance and Economics, 1986). University of Pennsylvania: 1972-present. Visiting appointments: Kiel Institute; Institute for Monetary and Economic Studies, Bank of Japan; Chulalongkorn University, Thailand; Institute for Advanced Studies, Vienna; Ecole Superieure des Sciences Economiques et Commerciales, Paris; London Business School

Other Positions

Research Associate, National Bureau of Economic Research, 1979-present; Research Fellow, Brookings Institution, 1971-72

Professional Leadership 2005-2009

Associate Editor, Journal of International Money and Finance, 1981-present; Board of Editors, Empirical Economics, 1983-present; Board of Editors, Japan and the World Economy, 1987-present

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Teaching

Past Courses

  • FNCE219 - INTL FINANCIAL MARKETS

    FNCE 219 is a course on international financial markets. Major topics include foreign exchange rates, international money markets, currency and interest rate derivatives (forwards, options, and swaps), international stock and bond portfolios, and cryptocurrencies. Students learn about the features of financial instruments and the motivations of market participants. The class focuses on risk management, investing, and arbitrage relations in these markets. In addition to course prerequisites, FNCE 101 is recommended.

  • FNCE399 - INDEPENDENT STUDY

    Integrates the work of the various courses and familiarizes the student with the tools and techniques of research.

  • FNCE719 - INTL FINANCIAL MARKETS

    This course covers topics on foreign exchange rates, international money markets, currency and interest rate derivatives (forwards, options, and swaps), international stock and bond portfolios, and cryptocurrencies. Students learn about the features of financial instruments and the motivations of market participants. The class focuses on risk management, investing, and arbitrage relations in these markets. In addition to prerequisites, FNCE 613 is recommended but not required.

  • FNCE731 - INTERNATL CORP FINANCE

    This course analyzes financial problems corporations face that result from operating in an international environment. Major topics covered are corporate strategy and the decision to invest abroad, international portfolio diversification, managing exchange risk, taxation issues, cost of capital and financial structure in the multinational firm, and sources of financing.

  • FNCE899 - INDEPENDENT STUDY

    Independent Study Projects require extensive independent work and a considerable amount of writing. ISP in Finance are intended to give students the opportunity to study a particular topic in Finance in greater depth than is covered in the curriculum. The application for ISP's should outline a plan of study that requires at least as much work as a typical course in the Finance Department that meets twice a week. Applications for FNCE 899 ISP's will not be accepted after the THIRD WEEK OF THE SEMESTER. ISP's must be supervised by a Standing Faculty member of the Finance Department.

In the News

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In the News

Will the $2.2 Trillion Coronavirus Aid Package Be Enough?

Economic recovery in the U.S. will be slow and require continued relief beyond the current measures, according to experts at Wharton.

Knowledge @ Wharton - 3/31/2020
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