Dr. Sayantan Ghosal is a Senior Lecturer in the Department of Economics and has been promoted to a Professor of Economics with effect from October 2004. His research interests are primarily in economic theory. He has published in a variety of academic journals including the Journal of Economic Theory, Journal of Mathematical Economics, Economic Theory, Economic Journal, Journal of Economic History. He was an invited participant to the Winter Meetings of the European Econometric Society in 2001, for a selected group of 20 academic economists under the age of 35 with no more than two economists selected from the U.K. each year. He is currently working on five projects: (a) liquidity and fragility in optimal banking contracts (with S. Chatterji), (b) imperfect information, moral hazard and self-fulfilling bank runs (with J. Boonprakakaiwe), (c) creditor coordination, bargaining and sovereign debt crisis (with M. Miller and K. Thampanishvong), (d) comparative economic performance and institutional change (with S. Broadberry) and (e) market transactions and the marginalisation of indigenous groups (with D. Thomas). Alongwith Prof. Marcus Miller and Lei Zhang, he has an ESRC research grant on "Moral Hazard and financial Institutions". He has seven PhD students, five of whom are working in the general area of global financial institutions and crisis.