Dec 1, 2016

The founding principle of all the activities of Zdenek and Michaela Bakala is, truly, the courage, which must, according to their belief, always go hand in hand with responsibility.
Visit site Bakala Philanthropy.

English   |   Français

Pierre Dubuis - report

Swiss University

Graduate Institute of International and Development Studies

Scholarship Destination

Yale University

Field of Study / Degree Programme

International Economics

Highlights of Experience

Yale’s economics programme is one of the best in the world. Thanks to the Fondation Zdenek et Michaela Bakala, I had the privilege to attend classes taught by world leading economists working at the cutting edge of research. In particular, I deepened my knowledge in finance by completing Professor Ingersoll’s PhD course on asset pricing and the functioning of markets with honours. I also developed my quantitative skills with technical classes on financial econometrics. At the same time, I was participating in a more applied MBA course on capital markets which gave me a concrete understanding of the financial system. Yale University is also an incredible place for social events. Everything is done in a way to facilitate contacts between students and professors and encourage intellectual exchanges. Amongst many events, I will remember the incredible 2016 election night at the MacMillan Center with a
particular feel.

Lessons learned

I was fortunate to meet many outstanding professors and peer students. This confirmed me that relationships and intellectual interactions are just as important as classes to develop one’s potential. This very stimulating and challenging environment helped me go further in my own research on monetary policy.

Future Plans

Thanks to my experience at Yale, I am going to join the traineeship programme of the European Central Bank within the Monetary Policy Strategy division in July 2017. I will have the opportunity to apply the skills I acquired throughout my studies and participate in concrete projects directly contributing to the elaboration of the Bank’s strategy. I am extremely motivated for this new challenge and look forward to putting my best efforts at working for a stronger European economy. In autumn 2018, I plan on starting a PhD programme in economics to pursue my research on the links between financial markets and monetary policy.


I am infinitely grateful to the Fondation Zdenek et Michaela Bakala for their support during my academic exchange at Yale University. I would not have been able to live this incredible
experience without their generosity.

© Fondation Zdenek et Michaela Bakala