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Finding the hidden risks.'It’s about looking at big data and finding where things are a bit odd,' says Professor Mardi Dungey from the Tasmanian School of Business & Economics.'It’s amazing how stubborn an academic like me can be – I need to understand how it works.'As one of the world’s leading experts in tracking how unexpected ‘shocks’ in local economies go global, Professor Dungey knows all too well how incomplete or misleading data can not only prevent the average investor from seeing the whole picture – it can create major problems for the analysts who are trying to forecast the next big financial crisis.

We’re coming up with methods to try and understand how the Australian economy is affected by the growth of Asian economies,' she says.'I’m trying to understand how we can capture the relationships that are consistent with the data, and create modelling frameworks that will help with decision-making.'If the Global Financial Crisis (GFC) of 20 taught us anything, understanding the transmission of financial crises from one country to the next – a phenomenon known as contagion – is the key to mitigating the risks.

And that involves unravelling the incredibly complex global networks hidden within the data.“For example, if we design them so our banks are large and interconnected, is that a good or a bad thing?

Her teaching interests encompass Macroeconomics, Financial Econometrics and International Finance.

View more on Professor Mardi Dungey in WARPMardi works in applied empirical macroeconomics and finance with a particular emphasis on macroeconomic and financial system regulatory policy.

Prior to that she has held academic positions at the Australian National University and La Trobe University.

She has also worked at Econtech Consulting Group and the Reserve Bank of Australia, and held visiting positions at the IMF, University of Cambridge, Manchester University, Princeton University, the Federal Reserve Bank of Atlanta and Australian and New Zealand Treasuries.The economics and finance group also work to develop tools to effectively utilise the large pools of data being generated in many fields – particularly the sciences – to answer questions relevant to the everyday lives of our citizens.We ask question such as how we can use the data generated by weather forecasters to better predict the impact of disasters on households; and how that same weather data can be used to use the world's scarce resources more effectively by aligning the demand and supply of goods which are weather sensitive, including electricity or even householders' demand for foodstuffs.We aim to detect the existence and size of these transmissions.Understanding these effects helps us to provide advice on how to structure financial regulation to reduce the risk of financial crises and policies and strategies to manage financial crises in order to minimise their impact on society.”The beauty of interrogating all that data is that it’s not just giving economists the ability to forecast what the future could hold – it’s revealing things about our past that we would have never been privy to otherwise.