12 In our last newsletter, we interviewed our four new PhD students, who are now in the middle of their first two years of the doctoral program. Our more advanced students completed their courses and have been working on their research projects, gathering and analyzing data, writing papers, and submitting them to scientific journals. Our PhD students usually spend about three years working on several research projects, requiring a lot of hard work, dedication, and resilience. The final project papers will form their doctoral theses, which a graduate committee will evaluate and discuss at each public thesis defense. The UBS Center currently supports 13 students at the Zurich Graduate School of Economics with full scholarships. On the following pages, four of our senior scholarship holders share some insights on their research projects. Their work reflects the broad scope of topics covered at the Center, ad- dressing some of today’s pressing issues relating to the economy and the financial markets. Shaping the future of economic research Does bank expansion cripple growth? How does working during pregnancy affect newborn babies? How can we reduce food waste? What are the right work incentives in disability insurance? These are only a few of the questions that our senior scholar- ship holders address in their research projects. SCHOLARSHIPS Senior scholarship holders, shaping the future.