
S O O D A B E H
S A R A F R A Z I
3220 Market Street, Gerri C. Hall, 10th Floor
Philadelphia, PA 19104-2875
 ss992@drexel.edu
,
Ph.D. Candidate MSc / MEng / BEng
EDUCATION
Ph.D. in Economics and International Business, Drexel University, LeBow College of Business.
Dissertation: “Economic and Financial Risks in Different Asset Classes and Different Regions." This
dissertation has three essays:

Interactions between Real Economic Risks, Financial Risks and Policy Uncertainty in the U.S.
Economy;

The Interactions between Islamic and Conventional Stock Markets: A Threshold Vector Analysis;
and

Downside Risk, Portfolio Diversification and the Financial Crisis of the Eurozone.
Committee members: Shawkat Hammoudeh (Chair), Konstantinos Serfes, Christopher Laincz, Fredj
Jawadi (University of Evry, France), Mehmet Balcilar (Eastern Mediterranean University), Paulo AraujoSantos (University of Lisbon)
Master of Science in Polymer Engineering (with Honors), Amir Kabir University (Tehran
Polytechnic), Tehran, Iran (2006).
Thesis: Modeling of Viscoelstic Behavior of Extended Pom-Pom Fluid in Extensional Flows
Bachelor of Science in Polymer Engineering (with Honors), Amir Kabir University (Tehran
Polytechnic), Tehran, Iran (2004).
Fields of Specialization

Advanced econometrics time series, cross section and panel data analysis

Financial Markets and Institutions

Applied Micro and Macro Economics

Industrial Organization (IO)
Computer and Language skills

Modelling and coding skills in economics and engineering

Computer Language and software: C++, MATLAB, Stata, SAS, RATS, EViews, R
Papers

“Downside Risk, Portfolio Diversification and the Financial Crisis for the Euro-zone,” S. Sarafrazi, S.
Hammoudeh, P.A. AraújoSantos. Journal of International Financial Markets, Institution & Money,
2014 (32), 368-396.

“Can the Sharia-based Islamic Stock Market Returns be Forecasted Using Large Number of
Predictors and Models?” R. Guptaa, S. Hammoudehb, B. D. Simo-Kengnea , Soodabeh Sarafrazib,
Applied Financial Economics, 2014 (24), Issue 17.

“How Strong Are the Causal Relationships Between Islamic and Conventional Finance Systems?
Evidence from Linear and Nonlinear Tests,” A.N. Ajmi, S. Hammoudeh, D.K. Nguyen, S. Sarafrazi.
Journal of International Financial Institutions, Money & Banking, 2014 (28), 213-227.

“Economic Uncertainty, Interest Rates and Stock Indices: Sources of Fluctuations in Islamic, U.S.,
EU and Asia Equity Markets,” W.J. Kim, S. Hammoudeh, S. Sarafrazi. Accepted by Journal of
Economic Behaviour and Organization.

“The Interactions between Conventional and Islamic Stock Markets: A Threshold Vector analysis,” S.
Hammoudeh, S. Sarafrazi, F. Jawadi. Under review by Journal of International Money and Finance.

Interactions between Real Economic and Financial Risks and Policy Uncertainty in the U.S.
Economy, S. Sarafrazi, S. Hammoudeh, M. Balcilar, Under review by Journal of Applied Economics.

“Non-Isothermal Simulation of the Film Blowing Process Using the Multi-Mode eXtended Pom-Pom
(XPP) Model,” S. Sarafrazi, F. Sharif., Journal of International Polymer Processing, 2008 (1), 30-37

Coauthor of book titled "Mathematical Olympiads in Iran," Nashr Oloom, (1998), Tehran, Iran.
Work in Progress

Investigating the Effects of Quantitative Easing on Stock Market Volatility Using Time-Varying
Smooth Transition Autoregressive Models (TVSTAR), S. Hammoudeh, S. Sarafrazi, M. McAleer

Dynamics of Energy-Grain Prices with Open Interest, S. Hammoudeh, S. Sarafrazi, C. Chang, M.
McAleer which was listed on SSRN's Top Ten download list for Derivatives eJournal.
http://ssrn.com/abstract=1855009
Academic Awards

Awarded with the William A. Casey Memorial Scholarship, Drexel University, Chemical and
Biological Engineering Department, 10,000$
http://www.chemeng.drexel.edu/News/2009/feb/honorsdayawards/default.aspx

Ranked 30th among 400,000 participants in the nationwide university entrance exam, and introduced
as honoured student of estate education assessment organization of Iran.

Awarded two prizes for highest rank in “Mathematical Olympiad Contests” among high schools of
Tehran
Teaching
Drexel University – LeBow College of Business – Department of Economics and International
Business |Jan 2012 to Present | Teaching


Principles of Microeconomics (full responsibility)
Principles of Macroeconomics (full responsibility)
University of Birmingham- Department of Chemical Engineering |Sep 2006- Sep 2007| Adjunct
Faculty

Thermodynamics, Computational Modelling in Chemical Engineering
Drexel University – LeBow College of Business – Department of Economics and International
Business |Sep 2009 to Present | Teaching Assistance

Managerial Economics, International Trade and Environmental and International Economics
Working Experience
Qeshm Star Bunkering and Shipping Services Co. – Research and Development | Mar 2005 to Jun
2008 | Pipeline Design Project Supervisor
The mission specified for Qeshm Star Bunkering and Shipping Services Company includes “Providing
and delivering fuels to ships as well performing other services in the Persian Gulf in compliance with
valid international rules and standards.”
Responsibilities & Achievements


Supervision of the design of underground fuel pipelines and oil blending equipment for ship
bunkering in Qeshm Island
Penetrating the competitors’ market by concentrating on decreasing the clients’ total costs