The essay should contain 3 sections: i) Explaining the question posed(0,5 pages); ii) Summarizing most important literature (1 page), iii) Developing an answer: analytical, evidence-based (1,5 pages). The number of papers to use is 5. The papers must be from the leading (A) journals in the field, or in finance and economics in general, like Journal of Economic Perspectives, Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Journal of Banking and Finance, Journal of Financial Intermediation – just to mention the top Finance journals, or the top econ journals.