Our Group
The School’s objective is to encourage research in a critical and analytical environment, enabling students to gain a deep understanding, with the aim of strengthening academic training and the ability to understand national and international economic events. In order to achieve this objective, the School of Economics Research Group has been decisive since its creation in 1999, thanks to the strength and consistency it has demonstrated since then.
Group Description
The School’s objective is to encourage research in a critical and analytical environment, enabling students to gain a deep understanding, with the aim of strengthening academic training and the ability to understand national and international economic events. In order to achieve this objective, the School of Economics Research Group has been decisive since its creation in 1999, thanks to the strength and consistency it has demonstrated since then.
Thanks to its constant development, the School of Economics Research Group has the A1 Classification for national research groups, awarded by the Ministry of Science, Technology, and Innovation (MinCiencias). This recognition is thanks to the quantity and quality of the group’s scientific research, the number of research projects that have been completed, and the outstanding academic ability of the full-time researchers, Ph.D. students, and young researchers who make up the group. The research group currently has 33 highly-qualified full-time researchers, who obtained their Ph.Ds from prestigious universities, including the University of California-Berkeley, Stanford University, Toulouse School of Economics (TSE), New York University (NYU), Boston University, University College London (UCL) Tilgburg, University of Warwick, University of Maryland, and Universidad Carlos III de Madrid, among others. Additionally, these researchers are remarkably effective in terms of publishing, having published on average 75% of their scientific research in Q1 category journals (the highest category in terms of publications).
This academic research has enabled the School of Economics Research Group to position itself among the 20 most important institutions in Latin America, and among the 3 most important in Colombia, in the RePec ranking of institutions dedicated to research in economics.
When it comes to research and consulting projects, the group has received financing from important national and international entities. On a national level, notable entities include the National Planning Department (DNP); Bank of the Republic; the district secretariats of planning, finance, and education of Bogotá; Findeter; the National Federation of Coffee Growers; Icfes; and Icetex, among many others. On an international level, notable support has been received from the Inter-American Development Bank (IDB), the Development Bank of Latin America (CAF), The Spencer Foundation, British Council, The Canadian Institutes of Health Research, The International Labour Organization (ILO), and the Institute for Fiscal studies, and many others.
The 6 research areas that make up the group are: Political Economy and Public Economics, Welfare Economics, Macroeconomics and International Economics, Experimental and Behavioral Economics, Markets and Industrial Regulations, and Finance. Furthermore, it is worth highlighting key elements that support the research environment, such as the Experimental Economics Laboratory, the Data Center, the DANE room, and the ongoing development of a social laboratory.
Research Areas within the Research Group
Development Economics: Welfare, Equity, Labor Economics, Education, Health, Environment
This research area encompasses topics related to economic development and the welfare of economic agents, covering aspects such as poverty, income distribution, education, health and nutrition, employment, and migration.
Modern theories on the functioning of the labor market are used to study the interaction between the rigidities and inefficiencies of the labor market and key development variables, such as unemployment, social exclusion, informality, labor income distribution, and social security.
Education and its effect on poverty, income distribution, and economic development is one of the research area’s important themes. In order to understand and improve the role of the state in regulating education, the group studies empirical and theoretical aspects of the learning process. It also studies decisions related to investment in education, including incentives for public and private institutions to offer quality education, the causes and consequences of segregation in education, as well as externalities present in processes of human capital accumulation, among other areas of study.
Studying individuals' decisions concerning health services is another primary theme within the research area. The group also studies the effect of health on income, poverty, and development. Additionally, it analyzes the incentive schemes, institutions, and political actions needed to create an efficient and equitable health services design that contributes to the well-being of the majority of the population and supports economic development.
The interaction between the environment and the development process is one of the topics studied within the research area. The economic causes and consequences of environmental degradation and natural resource depletion are studied. Research on this topic delves into aspects such as environmental management regulations, natural resource extraction, deforestation, illegal mining, etc.
Investigadores vinculados a la línea
- Carlos Sepúlveda – Decano de Economía.
- Juan Miguel Gallego – Profesor Titular.
- Diego Aycinena – Profesor Asociado.
- Mariana Blanco – Profesora Asociada.
- Darwin Cortés – Profesor Asociado.
- César Mantilla – Profesor Asociado.
- Mauricio Rodríguez – Profesor Principal.
- Paul Rodríguez – Profesor Principal.
- Santiago Saavedra – Profesor Principal.
- Juan Fernando Vargas – Profesor Titular.
- Andrés Garcia – Profesor adjunto.
Estudiantes de Doctorado
- Juan Carlos Urueña – Estudiante de Doctorado en Economía
- Sara Atehortua – Estudiante de Doctorado en Economía.
- Amalia Rodríguez – Estudiante de Doctorado en Economía.
- Lina García - Estudiante de Doctorado en Economía.
- Cristina Fernández - Estudiante de Doctorado en Economía.
- José Manuel Tapias - Estudiante de Doctorado en Economía.
- Carlos Fabián Ruiz - Estudiante de Doctorado en Economía.
- Nazly López - Estudiante de Doctorado en Economía.
Jóvenes Investigadores
- Julián Santiago Ramírez Sánchez.
- Sebastián Cuéllar Harker
- Diana Patricia Barriga Van Brackel
- Stephany Amaya Pérez
- Ana María Gaona Gómez
- Silvia Alejandra Ortiz Merchán
- Johan Steven Caicedo Rodríguez
- Sebastián David Quesada Gómez
- Juan Andrés Russy Cervera
- Miguel Santiago Pulido Estupiñán
- Raiza Pamela Caiza Guamán
- Isabella Valencia Prado
- Jorge Armando de León Tejada
Political Economy and Public Economics
This research area explores economic and political institutions and how they determine public policies. It emphasizes how politically motivated conflicts impact economic outcomes, considering the diverse preferences of decision-makers regarding the economic results of adopted policies. The group recognizes public institutions as pivotal players in economic and social processes, concentrating on topics such as violent conflicts, crime, corruption, state functioning, the complementarity of diverse institutions, and the unintended consequences of public policy within the context of weak institutions. Methodologically, it relies on the assumptions of individual rationality and employs empirical methods for causal inference. It draws insights from both contemporary data and historical occurrences that may shed light on modern events.
Investigadores vinculados a la línea
- Juan Fernando Vargas – Profesor Titular.
- Darwin Cortés – Profesor Asociado.
- Jorge Gallego – Profesor Principal
- César Mantilla – Profesor Asociado.
- Mauricio Rodríguez – Profesor Principal
- Santiago Saavedra – Profesor Principal.
- Mounu Prem - Profesor Adjunto
- Andrea Fernanda López Luzuriaga - Profesora Principal.
- Mateo Uribe-Castro - Profesora Principal.
- Andrés Garcia – Profesor adjunto.
Estudiantes de Doctorado
- Roberto Rafael Pérez – Estudiante doctorado
- Andrés Felipe Rivera - Estudiante de Doctorado en Economía.
- Henry Alexander Ballesteros - Estudiante de Doctorado en Economía.
- Leonardo Raffo - Estudiante de Doctorado en Economía.
Jóvenes Investigadores
- Carlos Daniel Bermúdez Jaramillo
- Brigitte Catalina Durán Calderón
Macroeconomics and International Economics
The general problems of the economy are analyzed, such as unemployment, growth, national income, inflation, interest rates, savings, consumption, the cost of using capital, and investment. In this analysis, recent developments in microeconomic theories on market failures serve as a foundation for neo-Keynesian macroeconomics. These include imperfect information, moral hazard, imperfect competition, and externalities in utility functions, as well as other concepts.
In addition, aspects related to international trade are studied, particularly the new patterns of economic integration within free trade areas, as well as bilateral and multilateral agreements. This research area carries out sectoral studies within what is known as the New Trade Theory. It covers various economic activities (agriculture, industry, etc.) as well as thematic aspects (inclusion of social clauses in WTO agreements, etc.).
Investigadores vinculados a la línea
- Jesús Otero – Profesor Titular.
- Mauricio Rodríguez – Profesor Principal.
Estudiantes de Doctorado
- Roberto Rafael Pérez – Estudiante de Doctorado en Economía.
- Carlos Andrés Giraldo – Estudiante de Doctorado en Economía.
- Edwin Torres – Estudiante de Doctorado en Economía.
- Juan Carlos Zambrano - Estudiante de Doctorado en Economía.
- José Manuel Tapias - Estudiante de Doctorado en Economía.
- Juan Camilo Santana - Estudiante de Doctorado en Economía.
Jóvenes Investigadores
- Miguel Santiago Pulido Estupiñán
- Sergio Andrés Rojas Trujillo
Experimental and Behavioral Economics
The behavior of individuals in relation to both individual and collective decision-making is studied within this research area. It makes use of economic theory and complements it with recent developments in other social sciences such as psychology and sociology. Experimental methods are typically used to evaluate the microeconomic principles proposed by economic theory, analyzing individuals’ behavior in controlled environments.
Investigadores vinculados a la línea
- Diego Aycinena – Profesor Asociado
- Mariana Blanco – Profesora Asociada.
- Çağatay Kayı – Profesor Asociado.
- Jorge Gallego – Profesor Principal.
- Santiago Sautúa – Profesor Principal.
- César Mantilla – Profesor Asociado.
- Juan Fernando Vargas – Profesor Titular.
- Julia Seither Afonso – Profesora Principal.
Estudiantes de Doctorado
- Sara Atehortúa – Estudiante de Doctorado en Economía.
- Amalia Rodríguez - Estudiante de Doctorado en Economía.
- José Gabriel Astaiza - Estudiante de Doctorado en Economía.
- Henry Alexander Ballesteros - Estudiante de Doctorado en Economía.
- Heiner Ferley Rincón - Estudiante de Doctorado en Economía.
- Carlos Fabián Ruiz - Estudiante de Doctorado en Economía.
- Nazly López - Estudiante de Doctorado en Economía.
Jóvenes investigadores
- Silvia Alejandra Ortiz Merchán
Finance
The main goal of this research area is to address the analysis and quantitative modelling of financial markets. It uses the latest contributions from both academia and global professional practices, adapting them to the context and relevance of Colombian markets. Given the makeup of the research group, there is a special emphasis on financial and actuarial mathematics, computational and statistical methods, and quantitative risk management within this research area. Emphasis is also placed on banking and financial economics, as well as corporate finance.
Investigadores vinculados a la línea
- Carlos Alberto Castro – Profesor Asociado
- Rafael Serrano – Profesor Asociado.
- Hugo Eduardo Ramírez – Profesor Principal.
- Mounu Prem - Profesor Adjunto
- Fabio Andrés Gómez de los Ríos - Profesor principal
- Jesús Otero – Profesor Titular.
Estudiantes de Doctorado
- José Gabriel Astaiza - Estudiante de Doctorado en Economía
- Andrés Felipe Cárdenas - Estudiante de Doctorado en Economía.
- Camilo Castillo - Estudiante de Doctorado en Economía.
- Julián Fernando Sánchez - Estudiante de Doctorado en Economía
- Jarles Andrés Marimon - Estudiante de Doctorado en Economía.
- Wilson Moreno - Estudiante de Doctorado en Economía
Jóvenes investigadores
Markets, Regulations, and Industrial Organization
This research area involves the study of market functioning by developing original theoretical and empirical models and analyses that aim to push the boundaries of current knowledge further. In order to do so, we use methods provided by Economic Theory and Econometrics, as well as advanced techniques for data analysis.
The questions we aim to address with our research encompass topics such as the factors influencing companies entering or exiting a market, productivity factors, dynamics of innovation and technological change within companies, market concentration, the exercise of monopoly power, collusion and cartels, as well as companies' business strategies and their impacts on market competition and consumer well-being.
Our research interests specifically focus on the state’s role in creating and implementing policies that contribute to a well-functioning market. In this regard, regulating markets where competition is inefficient or where providing certain goods is crucial for ensuring the population’s well-being (such as public services), as well as policies that promote and protect competition in imperfectly competitive markets, represent a fundamental part of our study focus.
Investigadores vinculados a la línea
- Juan Miguel Gallego – Profesor Titular.
- Luis Hernando Gutiérrez – Profesor Titular.
- Guillem Roig– Profesor Principal.
- Jorge Flórez – Profesor Principal.
- Hernán Jaramillo - Asesor Rectoría y Profesor Honorario de la Facultad de Economía.
- Mounu Prem - Profesor Adjunto.
- Andrea Fernanda López Luzuriaga - Profesora Principal
Estudiantes de Doctorado
- Sara Atehortua - Doctorado en Economía.
- Juan Sebastián Ordóñez - Estudiante de Doctorado en Economía.
- Renzo Alejandro Clavijo - Estudiante de Doctorado en Economía.
- Angie Mondragón - Estudiante de Doctorado en Economía.
Jóvenes Investigadores
- Juan Andrés Russy Cervera