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Faculty Spotlight: Professor Francis Warnock

- Wednesday, May 24, 2017


Professor Francis (Frank) Warnock uses an innovative approach to teaching global economics at Darden. Unlike his peers at other institutions, Warnock embraces the case method. As the Area Coordinator of the Global Economies and Markets (GEM) department, Warnock developed and delivers GEM’s First Year course elective, “Advanced Global Financial Markets”; and, with Veronica Cacdac Warnock, an elective titled, “Transforming Societies.” Warnock is an expert on international capital flows, international portfolio allocation and financial sector development. 

Before coming to Darden in 2004, Warnock developed his expertise in international capital flows as a senior economist in the international finance division at the Board of Governors of the Federal Reserve System while also teaching at Georgetown University. Warnock’s international experience includes, among other things, two years as a Peace Corps Volunteer in Malawi’s Thyolo District. His professional career started on Wall Street, where he was a commodity trading advisor. In the recent past, he has been a research fellow at the Hong Kong Monetary Authority and an adjunct senior fellow at the Council on Foreign Relations; he co-led a multi-team Inter-American Development Bank project on housing finance systems in Latin America and has been a consultant to the IMF and to the World Bank on its GEMLOC emerging bond-markets project.

Case studies that are updated each year for the “Global Financial Markets” course

“Prospective Capital Flows and Currency Movements: Euro versus Canadian Dollar” (UVA-GEM-0124).

“Yellen, Guidance, and the Exit Strategy” (UVA-GEM-0121)

“Draghi’s Commitment” (UVA-GEM-0113)

“Global Asset Allocation: All That Glitters?” (UVA-F-1646)

“Global Asset Allocation: Crude Calculations” (UVA-F-1647)

“The Yield Curve and Growth Forecasts” (UVA-GEM-0106)

“Global Asset Allocation: Whither the U.S. Dollar?” (UVA-F-1591)

Selected Other Cases

“The Eurozone at 15: A Monetary Union without Growth?” (UVA-GEM-0136) 

“Bernanke's Dilemma” (UVA-GEM-0111)

“Currency Crises in the United Kingdom and Hong Kong” (UVA-GEM-0108)

“Greenspan’s Conundrum and Bernanke’s Nightmare” (UVA-BP-0544). Final revision August 2012, superseded by “Bernanke’s Dilemma” (UVA-GEM-0111)

“Whither the US Economy?” (UVA-BP-0542) 

“Geithner and Bernanke Amid the Global Financial Crisis” (UVA-BP-0540)

“Inflation Targeting in South Africa” (UVA-BP-0507)

“Vietnam: A New Tiger Earns Its Stripes” (UVA-G-0618)

Technical Notes

For the “Global Financial Markets” course, the three primary technical notes Warnock uses are “The Determinants of Interest Rates” (UVA-BP-0489), “Exchange Rate Models” (UVA-BP-0496), and “A User’s Guide to the BOP and IIP: The Transition from BPM5 to BPM6” (UVA-GEM-0135).


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