Jeremy Siegel

Education

PhD, Massachusetts Institute of Technology, 1971; BA, Columbia University, 1967

Career and Recent Professional Awards; Teaching Awards

Best Business School Professor in worldwide ranking, Business Week, 1994; Lindback Award (outstanding university teaching), 2002; Helen Kardon Moss Anvil Award (outstanding MBA teaching),1996, 2005; David W. Hauck Award for Outstanding Teaching (Wharton Undergraduate); Best Article, Graham and Dodd Award, Financial Analysts Journal, 1993; Best Article, Peter Bernstein and Frank Fabozzi Award, The Journal of Portfolio Management, 2000; The prestigious Nicholas Molodovsky Award by the Chartered Financial Analysts Institute to “those individuals who have made outstanding contributions of such significance as to change the direction of the profession and to raise it to higher standards of accomplishment,” in May 2005

Academic Positions Held

Wharton: 1976present (named Russell E. Palmer Professor of Finance, 1998). Previous appointment: Graduate School of Business, University of Chicago, 197276

Other Positions

Academic Director, Securities Industry Association Institute; Senior Investment Strategy Advisor, Wisdom Tree Investments, Inc.; Investment Advisory Committee, Zeneca Inc.

Past Courses

FNCE101 MONETARY ECON & GLOB ECO

FNCE 101 is an intermediatelevel course in macroeconomics and the global economy, including topics in monetary and international economics. The goal is to provide a unified framework for understanding macroeconomic events and policy, which govern the global economic environment of business. The course analyzes the determinants and behavior of employment, production, demand and profits; inflation, interest rates, asset prices, and wages; exchange rates and international flows of goods and assets; including the interaction of the real economy with monetary policy and the financial system. The analysis is applied to current events, both in the US and abroad. ,HONORS FNCE 101 is only offered in the Fall semester. Registration for this class is through an application process. Please go to: https:fnce.wharton.upenn.edu/programscourseapplications, This course presents the analysis of macroeconomic theory with a current events perspective. The material in the class concentrates on lecture notes, which are the primary learning source, and readings from a course packet of articles drawn from journals, magazines, newspapers, and other economic publications. The material covered will include: (1) Economic Statistics, GDP, Price Indices,Productivity and the nature of the business cycle, (2) The government budget and Social Security, (3) Monetary policy, The Fed and other Central Banks,(4) Interest rates indexed bonds and ther term structure (5) Aggregate Demand and the determination of income and interest rate, (6) Money and Inflation the Velocity Approach, (7) Reaction of Financial Markets to economic data,(8) Inflation, inflationary expectations and the Phillips Curve,(9) Supplyside shocks and macrodynamics, (10) International Balance of Payments, the current account and capital flows, (11) Determination of Exchange Rates, exchange rate systems, purchasing power and interest rate parity.

FNCE399 INDEPENDENT STUDY

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

FNCE613 MACROECN & GLOBAL ECONOM

This course is required for all students except those who, having prior training in macroeconomics, money and banking, and stabilization policy at an intermediate or advanced level, can obtain a waiver by passing an examination. The purpose of FNCE 613 is to train the student to think systematically about the current state of the economy and macroeconomic policy, and to be able to evaluate the economic environment within which business and financial decisions are made. The course emphasizes the use of economic theory to understand the workings of financial markets and the operation and impact of government policies. Specifically, the course studies the determinants of the level of national income, employment, investment, interest rates, the supply of money, inflation, exchange rates, and the formulation and operation of stabilization policies.

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. At a minimum, we need a description of the methodology you intend to employ, a bibliography and description of the data that you will use as well as a list of interim deliverables and dates to ensure that you complete the project within the semester. Applications for FNCE 899 ISP's will not be accepted after the THIRD WEEK OF THE SEMESTER. You must submit your Finance ISP request using the Finance Department's ISP form located at https://fnce.wharton.upenn.edu under the Course ISP section

Lindback Award, awarded by the Lindback Society and the Christian R. and Mary F. Lindback Foundation for Distinguished teaching, 2002 JeremySiegel.com Awarded Best Website of Business Professor, by Forbes Magazine, 2001 Anvil Award, Outstanding MBA Professor, 1996 Outstanding Business School Professor, named by Business Week, 1994 Winner of Graham and Dodd Award, the Association for Investment Management and Research for the best article in the Financial Analyst Journal, 1993

Head for the Hills? No Way, He Says, New York Times 07/17/2010 The Future of the Euro, CNBC, “Squawk on the Street" 05/17/2010 Reading Economic Signs Of The ‘Great Recession’, NPR, “Talk of the Nation” 04/13/2010 Siegel Says U.S. Recovery Certain, Euro Region Faces Splinter, Bloomberg.com 03/10/2010 How will the arrow point in 10 years?, USA Today 01/04/2010

Knowledge @ Wharton

• Is the U.S. Stock Market Headed Higher — or for a Crash?, Knowledge @ Wharton 05/02/2017
• Income Inequality, Robots and a Path to a Fairer Society, Knowledge @ Wharton 03/10/2017
• How Will Trump’s Policies Affect the U.S. Economy?, Knowledge @ Wharton 02/01/2017
• The U.S. Economy in 2017: Why Uncertainty Is the ‘Biggest Risk’, Knowledge @ Wharton 01/06/2017
• Inflation, Interest Rates and ‘the Politics of Rage’, Knowledge @ Wharton 12/22/2016
• Jeremy Siegel: The Impact of the Election on the Markets, Knowledge @ Wharton 11/09/2016
• Jeremy Siegel: The Impact of the Brexit Vote on Markets, Knowledge @ Wharton 06/29/2016
• The Upside of a Volatile Market? Bargain Stocks, Knowledge @ Wharton 01/22/2016
• Do Junk Bond Defaults Signal Trouble for 2016?, Knowledge @ Wharton 01/06/2016
• Jeremy Siegel: Despite Volatility, Stocks Could Rise 10% in 2016, Knowledge @ Wharton 01/04/2016
• Jeremy Siegel on Stocks: This Is a Correction, Not a Bear Market, Knowledge @ Wharton 08/25/2015
• Should U.S. Investors Care about the Greek Crisis?, Knowledge @ Wharton 07/01/2015
• Can the Eurozone Reverse Its Decline After the Greek Debacle?, Knowledge @ Wharton 07/01/2015
• Jeremy Siegel: How a ‘Grexit’ Could Strengthen the Eurozone, Knowledge @ Wharton 06/29/2015
• Is the U.S. Stock Market Overvalued?, Knowledge @ Wharton 05/26/2015
• The U.S. in 2015: A Cautiously Optimistic Recovery, Knowledge @ Wharton 01/28/2015
• Kicking the Tires on Uber’s $17 Billion Valuation: Is It Worth That Much?, Knowledge @ Wharton 07/16/2014
• Michael Lewis on a Rigged Stock Market and the Heroes of Wall Street, Knowledge @ Wharton 06/02/2014
• A Shaky Start for Stocks: ‘No Bull Market Moves in a Straight Line’, Knowledge @ Wharton 01/28/2014
• Is It Time for the Fed to Wind Down the Economic Stimulus?, Knowledge @ Wharton 07/31/2013
• Investing in Gold: Does It Stack Up?, Knowledge @ Wharton 05/22/2013
• How VCs Are Driving a Techvaluation ‘Feeding Frenzy’, Knowledge @ Wharton 04/10/2013
• When Dividends Pay Dividends — and When They Don’t, Knowledge @ Wharton 03/27/2013
• Jeremy Siegel on Why Stocks Are — and Will Remain — the Best Bet, Knowledge @ Wharton 02/27/2013
• Pressure Points: Where Tax Reform Can Be Most Effective, Knowledge @ Wharton 02/13/2013
• In or Out? The Case for — and Against — the American Stock Market, Knowledge @ Wharton 11/07/2012
• In or Out? The Case for — and Against — the Stock Market, Knowledge @ Wharton 10/24/2012
• The LIBOR Mess: How Did It Happen — and What Lies Ahead?, Knowledge @ Wharton 07/18/2012
• Market Update: A Real Recovery, or a False Start?, Knowledge @ Wharton 03/14/2012
• Wake Me up When September Ends, Knowledge @ Wharton 09/07/2011
• More on the Dreaded Double Dip, Knowledge @ Wharton 08/22/2011
• The Fed Launches a Wall Street Roller Coaster, Knowledge @ Wharton 08/09/2011
• S&P’s Downgrade Gets Little Market Credibility, Knowledge @ Wharton 08/08/2011
• Everything from Oil to Silver: Are Speculators Causing Too Much Volatility?, Knowledge @ Wharton 05/25/2011
• The FiveYear Question, Knowledge @ Wharton 04/26/2011
• Back to the Future: Will Rising Commodities Prices Create a New ‘Inflation Generation’?, Knowledge @ Wharton 04/13/2011
• Crude Reality: Why High Oil Prices Are Here to Stay, Knowledge @ Wharton 03/16/2011
• The NYSEDeutsche Börse Merger: Building a Powerhouse or a Dinosaur?, Knowledge @ Wharton 03/02/2011
• No Easy Answers: Decoding the Economy’s Mixed Messages, Knowledge @ Wharton 02/16/2011
• ‘A Major Transformation’: The Pros and Cons of the DoddFrank Act, Knowledge @ Wharton 01/11/2011
• Election Upheavals: What’s the Significance for Business and Beyond?, Knowledge @ Wharton 11/10/2010
• In a Withering Market, Where Will Your Investments Grow?, Knowledge @ Wharton 09/29/2010
• ‘ A Major Transformation’: The Pros and Cons of the DoddFrank Act, Knowledge @ Wharton 09/07/2010
• From Recession to Recovery: Focus on Higher Productivity, New Partnerships, Cost Competitiveness, Knowledge @ Wharton 07/28/2010
• Will the Economic Recovery Run Out of Steam?, Knowledge @ Wharton 07/21/2010
• From Recession to Recovery: A Focus on Higher Productivity, New Partnerships, Cost Competitiveness, Knowledge @ Wharton 07/14/2010
• Regulating the Unknown: Can Financial Reform Prevent Another Crisis?, Knowledge @ Wharton 06/09/2010
• Jeremy Siegel on the Dow Reaching 11,000: ‘You’ve Still Got Upside’, Knowledge @ Wharton 04/14/2010
• Lehman’s Demise and Repo 105: No Accounting for Deception, Knowledge @ Wharton 03/31/2010
• Banking Reform Proposals: Why They Miss the Mark, Knowledge @ Wharton 02/17/2010