Seung Joo Lee

Associate Professor of Finance

  • seung.lee@sbs.ox.ac.uk

Saïd Business School
University of Oxford
Park End Street


Seung Joo is an Associate Professor of Finance at Saïd Business School, University of Oxford. 

He holds a Ph.D. in Economics from the University of California at Berkeley, where he was a Regents’ fellow. Before then, he studied at Seoul National University in Korea, obtaining his BS in Physics and MA in Economics.

From June 2016 to May 2019, Seung Joo took a leave from his PhD programme to serve in Republic of Korea Army as first lieutenant.

Read his CV.

View his Personal webpage and Twitter.


Seung Joo’s research interests are broad, and have been focused on:

  • Monetary economics (monetary policy and financial stability)
  • Macroeconomics and macro-finance
  • Asset pricing and behavioural finance
  • Contract theory


Monetary policy

Seung Joo’s primary research area is in monetary economics and macro-finance. He tackles questions about conventional and unconventional monetary policies and their stabilisations in an era of higher uncertainties and frictions. Seung Joo also studies other macroeconomic issues rigorously, including a potential wage-price spiral that worried many people in regards to the rampant inflation after Covid-19.

Macro-finance and behavioural finance

Seung Joo is interested in understanding factors that drive a long and slow-moving capital crisis, and one of his researches show that an inclusion of behavioural biases, eg optimism, might lead in general equilibrium to a perpetual crisis, which he and his co-authors call as ‘net worth trap’. In addition, he works on various problems arising in an intersection of macroeconomics and finance, and tries to test the theories empirically, based on both historical and non-historical data.

Contract theory

Seung Joo has been working on a problem of optimal contracting for risk-management purposes, and some mathematical issues arising from the problem.


Seung Joo has taught the following courses:

  • MBA: Firms and Markets
  • MBA and EMBA: Business Finance
  • MPhil and DPhil: Financial Economics 1 (with Economics Department)
  • MSc in Law and Finance (MLF): First Principles of Financial Economics (with Law Faculty)
  • DPhil: Empirical Finance