The CEPR/Studienzentrum Gerzensee European Summer Symposium in Financial Markets (ESSFM) will include daily seminars in which participants present their work, as well as less formal seminars scheduled at the beginning of the Symposium. A substantial amount of time is reserved for independent work and collaborative research, which provides participants with a unique opportunity to interact and discuss each other's research. In addition, several mornings will be devoted to 'focus sessions', each of which concentrates on the latest developments in a specific area of research.