Nicolas Crouzet
Associate Professor of Finance
Nicolas Crouzet joined the Kellogg School of Management in 2014. He has a B.Sc. in Engineering from Ecole Polytechnique (2008) and a PhD from Columbia University (2014). His research focuses on the macroeconomic and financial determinants of corporate investment.
- Corporate Investment
- Corporate Finance
- Macroeconomics.
- Corporate Finance
- Macroeconomics.
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Ph.D., 2014, Economics, Columbia University
M.A., 2010, Economics, Columbia University
B.Sc., 2008, Applied Mathematics, Ecole Polytechnique -
Associate Professor, Finance, Kellogg School of Management, Northwestern University, 2018-present
Assistant Professor, Finance, Northwestern University, Kellogg School of Management, 2014-2018 -
Dimensional Fund Advisors Prize for best capital markets published in the Journal of Finance in 2023 (first prize)., American Finance Association
Best Paper in Individual Investing and Household Finance award at the 2021 Midwest Finance Meetings, Midwest Finance Association
Wueller Award for best graduate teaching assistant, Columbia University, 2011
Harris Prize for best 2nd year paper, Columbia University, 2010
Doctoral Fellowship, Doctoral Fellowship, 2008-Present -
Associate Editor, Review of Financial Studies, 2024
Corporate Finance III (FINC-586-3)
This course is a topics course in Corporate Finance and Financial Frictions, with some coverage of macro-finance models. The course is mainly about dynamic models, and will cover (1) dynamic optimal cash holdings, (2) dynamic principal-agent models, (3) dynamic models of corporate bankruptcies, (4) search frictions (directed and undirected), (5) mean-field games in which heterogeneity matters, including some basic consumption-savings model and a model of dynamic adverse selection in mortgage markets, (6) dynamic intermediation models, and (7) if time allows some more recent advances on the border between finance and macroeconomics. The focus is on developing the tools for dynamic stochastic models of frictions.
Macroeconomics (FINCX-473-0)
Macroeconomic Policy and Global Capital Markets (FINC-473-0)
What drives economic growth in a globalized world? This course focuses on the economic forces and the policy responses that are relevant for business and investment strategies. Specific topics include the meaning and measures of national and international economic activity; what determines which emerging markets develop and grow, while others stagnate; what drives booms and recessions, how they are propagated globally, and how government policy responds; monetary policy and its effect on financial institutions and credit markets; government liabilities and how markets react to government debt; what determines trade deficits and surpluses, and the relative strength of a currency. The course provides a high-level overview to aid business planning, investment strategies, and policy analysis.
This is a lecture and case-based course, with group projects and a final exam.
