MESSAGE FROM THE DIRECTOR Our MFin program continues to be one of the top programs in the world. The graduating class of 2026 consisted of 39 students, 15 female and 24 male. Placement continues to be successful, and all but one student in the MFin program graduated with a job secured. Our recruiting efforts remain strong, and the geopolitical environment has not impacted us as negatively as anticipated. Our Minor in Finance program continues to attract interest among Princeton undergraduates. In May 2026, 94 (31 female) students graduated, an increase from the prior year. The UMF Class of 2027 consists of 94 students. We are pleased to see the Minor program gaining traction as we collaborate with finance clubs and increase student engagement. We were happy to once again offer ECO102: Introduction to Personal Finance in Spring 2026 with 167 undergraduates enrolled, which was an increase in enrollment from Fall 2024. We will offer the course again in Fall 2026. We organized important academic conferences on macrofinance, finance with demand systems, and financial econometrics. These included the MPSS Conference on Financial Econometrics, the Macro Finance Conference, and the Conference on Asset Demand Systems. Dear friends and supporters of the Bendheim Center, AI is reshaping our world, not only how we teach and evaluate our students, but also how they are placed. The recruiting process our students face has changed dramatically: CVs are now written with the help of AI, and firms use AI to screen candidates. We are working hard to stay ahead of the curve. During the 2025-2026 academic year, we continued to broaden our applicant pool and increased the number of highly qualified US citizens. We also worked hard to make our applicant pool more diverse. These efforts resulted in the most diverse admitted group of MFin students in our history. MARKUS BRUNNERMEIER Edwards S. Sanford Professor of Economics 1
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