Janice Eberly is the James R. and Helen D. Russell Professor of Finance and former Chair of the Finance Department. Before joining the Kellogg faculty, she was a faculty member in Finance at the Wharton School of the University of Pennsylvania.
Professor Eberly served as the Assistant Secretary for Economic Policy at the U.S. Treasury from 2011 to 2013 after being confirmed by the U.S. Senate. In that capacity she was the Chief Economist at the Treasury, leading the Office of Economic Policy in analysis of the U.S. and global economies and financial markets and development of policy recommendations on micro and macroeconomic issues.
Professor Eberly's research focuses on finance and macroeconomics. Her work studies firms' capital budgeting decisions and household consumption and portfolio choice. She also examines the interaction of these spending and investment choices with the macroeconomy. Her current research emphasizes household finance and intangible investment. Her work has been published in the American Economic Review, the Journal of Political Economy, Econometrica, and the Quarterly Journal of Economics, among other academic journals. She has received a Sloan Foundation research fellowship and grant funding from the National Science Foundation and the CME Trust.
Professor Eberly has been an Associate Editor of the American Economic Review and other academic journals and Senior Associate Editor of the Journal of Monetary Economics. Previously Professor Eberly served on the staff of the President's Council of Economic Advisors and on the advisory committees of the Bureau of Economic Analysis (BEA) and the Congressional Budget Office (CBO). She was elected to the Executive Committee of the American Economic Association in 2008.
Professor Eberly was elected a Fellow of the American Academy of Arts and Sciences in 2013 and is Editor of the Brookings Papers on Economic Activity. She has won numerous awards for her teaching, including Chairs' Core Teaching Awards and Outstanding Professor Awards from the Executive Master's Program. She is a member of the Board of the TIAA-CREF mutual funds since 2018 and is Academic Director of the CEO Perspectives Program (Kellogg's most senior executive education program), a joint venture between the Kellogg School of Management, Corporate Leadership Center and Chicago Booth School of Business. Professor Eberly received her Ph.D. in Economics from MIT.
**This course was formerly known as FINC-941-0**How do national economies evolve and interact 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 business cycles, how they are propagated globally, and how government policy responds; monetary policy decisions and their 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.