Experience Stern | News & Events

NYU Stern is introducing a new Essay 2 to its full-time MBA application for Fall 2013 applicants, the first major change in the essays in six years. The question will assess an applicant’s fit with the Stern mission and mindset about creating value in an environment of increased ambiguity. The School believes these qualities are essential to lead in today’s global business environment.

Excerpt from The Economist -- "New York University’s Stern Business School is introducing a new essay question for MBA applicants. The school says it is intended to 'assess an applicant’s fit with the Stern mission and mindset about creating value in an environment of increased ambiguity.'"

Excerpt from The Huffington Post -- "If EMU policymakers wish to preserve the euro, they will need a Hamiltonian solution, including both fiscal burden-sharing to halt the crisis and conditionality (or fiscal and financial rules) to prevent another crisis and avoid a persistent wealth transfer to peripheral EMU members."

A new study from Professor Heski Bar-Isaac suggests online hospital rankings may be detrimental to patient welfare.

Excerpt from Harvard Business Review -- "In 2005, Professor Dolly Chugh of the Stern School of Business at New York University and I coined the term "bounded awareness" to refer to the systematic human tendency to fail to perceive and process important information that is easily available to us."

Excerpt from Financial Times -- "In a study last year, academics Thomas Philippon and Ariell Reshef found that during two eras of financial market euphoria – the 1920s and from 2000 onwards – the finance sector paid a “wage premium” of 70 per cent above the private sector average."

Excerpt from Xinhua -- "If the country does not cut government expenditure by a few point percentage points there is a real danger that the country is going to have to ask for help from the European authorities and the IMF. The Italian economy is about 50 percent bigger than Spain so we are talking about serious financial concerns for the EU. I mean, Italy going down can reasonably lead to the Euro one going down."

Excerpt from the Australian Financial Review -- “'Regardless of the direction of causation, the movement of a company’s aircraft to and from a CEO’s vacation residence provides a very visible signal of pending news announcements and silences,' [Yermack] writes in his study, published by the National Bureau of Economic Research."

Excerpt from Reuters TV -- "This is a crucial election for Greece. If it doesn't go right, then Greece could be kicked out of the European Union, could be kicked out of the euro, it could be kicked out of the drachma, and it could be really catastrophic for Greece."

Excerpt from CNBC -- "The German government should give every German household a 1000 euro ($1,250) travel voucher. However, it should only be used for holidays in crisis countries. That will help boost growth there. In addition, everyone who buys a holiday home in a southern European state should get a tax bonus."

Excerpt from The Huffington Post -- "The bottom line should be that if you buy the ticket, you should own it, and be able to do with it as you wish -- use it, resell it or give it away. That is where a secondary market comes in."

Excerpt from Forbes India -- "When Facebook’s share price started tumbling down since its listing two weeks ago, not everyone was surprised. In February, as soon as its numbers became public, Aswath Damodaran, a finance professor at NYU Stern School of Business, valued the company at $72 billion. It made a debut with a valuation of $100 billion, or 100 times its earnings."

Excerpt from WIRED -- "While there are several possible business models for Facebook to create value, each with its potential risk and reward, I propose that Facebook create the world’s first information market."

Excerpt from The Atlantic -- "Economist William Baumol famously observed that it's really hard to make a string quartet more efficient, because it's not feasible to replace the live violinist with a robot or with a cheaper Chinese violinist Skyping in from Shanghai. Similarly, you can't perform 'A Long Day's Journey Into Night' with fewer than four principal actors."

Excerpt from Bloomberg -- "'Even a great banker like James Dimon can’t really manage such a huge operation,' Sylla said. 'They convince themselves that everything is fine because they’re making money.'"

Excerpt from Newsweek -- " ... Groupon represents a textbook case of the business principle known as first-mover advantage. ... As Nobel Prize–winning economist Michael Spence observed, a business that swiftly achieves and maintains dominance can reap superior profits and enjoy unrivaled customer loyalty."

Excerpt from BBC News -- "The black hole in the Spanish banking system is very, very large and it would need, I believe, much more than 100 billion euros."

Excerpt from Barron's -- "Though volatility expectations aren't likely to reach the frightening levels of 2008, stock investors may want to heed Ed Altman, finance professor at New York University, who points to an increased correlation between stocks and high-risk bonds."

Excerpt from New York Magazine -- "Johanna Stout, manager of the Fashion Incubator explained, 'We have a partnership with NYU Stern [School of Business]. We really noticed that the designers, they’re not business people, you know? ... So for nine months we paired them with an MBA student and an adviser from the industry to work on their financials before they even moved in. We're like, let's clean up the financials, let's get you a business plan, and then you can move into the incubator.'"

Excerpt from Financial Times -- "We find it extraordinary that it should be Germany, of all countries, that is failing to learn from history. Fixated on the non-threat of inflation, today’s Germans appear to attach more importance to 1923 (the year of hyperinflation) than to 1933 (the year democracy died)."

Excerpt from Psychology Today -- "Does feeling sadder truly make us wiser? We’d certainly like to think so: putting a positive spin on a negative experience can help make it more palatable. If we think about how sadness actually affects people, then a different story emerges."

Excerpt from The Washington Post -- "David Yermack, a professor at New York University’s Stern School of Business, examined Michelle Obama’s 189 public appearances between November 2008 and December 2009 and found that the appearances coincided with spikes in the stock prices of the companies whose clothes she wore."

Excerpt from Bloomberg -- "The economist Robert Frank has suggested doing this via a consumption tax, patterned after a 1955 proposal by Nicholas Kaldor. All spending above $7,500 per person would be subjected to an escalating rate of tax."

Excerpt from Reuters blog -- "America’s big banks are short a mere $500 billion in capital. That’s how much more of a cushion Nobel prize-winning economist Robert Engle thinks is needed for banks to survive another financial crisis."

Excerpt from MSNBC -- "'It's always undesirable to have uncertainty about the fiscal path,' said Kim Schoenholtz, an economics professor at New York University. 'Economic growth requires investment, and that requires risk taking. Anything Congress can do to reduce uncertainty... would be helpful.'"