Author: kak11010

Boot Camp Economics

How did you spend your winter break? For most students it did not include more course work! But for 1,152 UConn students it was an opportunity to take an intensive two-week Winter Intersession course. Five of the 55 Winter 2010 classes offered at the Storrs campus were online courses. Classes began December 28, 2009 and ended January 15, 2010–only 19 calendar days for a course that usually spans a 15-week semester. One of the online courses was Econ 1201, Principles of Microeconomics, taught by Prof. Oskar Harmon. Students taking the course signed up for 16 days of online lectures, homework, and exams, with two days off for New Year’s Eve and Day, and one day to prepare for a proctored cumulative 2-hour final exam.

Some students apparently had second thoughts about spending their entire winter break immersed in economics: only 30 of the 45 students who initially signed up for the course remained enrolled when the class began. Two of the four course exams were proctored. Most students sat for the proctored exams in the Center for Undergraduate Education (CUE) building at Storrs, but some took the exams at other campuses (UConn-Stamford, University of Rochester, and University of Maryland).

Twenty-seven students completed the course, and the average score on the cumulative final exam differed by only one point from the average final exam score in the same course taught by Professor Harmon in the regular Fall 2009 term. Students in the two courses had similar self-reported GPAs and a similar distribution of majors, but students in the winter course typically were closer to graduation: about 40% were seniors compared to only about 20% in the fall course. Also a much larger percentage of students were not working during the winter course (45%) than during the fall course (20%). In an exit poll, students were asked: “Knowing what you know now, would you recommend a similar intensive online course to a friend?” and “Can you describe the experience of taking a 16-week course in a 2-week term?” About 25% of the respondents would definitely take a similar course and consistently described the experience as “intense, but a good use of my time.” About 50% would possibly recommend this intersession course to a friend. Their descriptions of the experience ranged from: “Really hard; if you are not fully committed to this course you will not do well,” to “Very, very challenging. I put so much effort into doing well in the course and I was still struggling. A lot of information to tackle in 2 weeks.” And 25% would likely or definitely not recommend the course to a friend, describing the experience as: “Not recommended, too compressed,” and “Econ is much too hard to learn over the Internet.”

An email from a student who completed the 2-week micro course and is now taking the companion 16-week macro course describes the experience as an “immersion” and notes that: “I feel like I’m slacking when I don’t pick up a macro book everyday, because my mindset from micro was all day every day.”

Prof. Alpert contributes to American Thinker blog

Why is there a remarkable stock market rally in the midst of the worst recession (depression) since 1930? While we hear explanations of every day’s rise and fall of the indices (e.g., the “whatever” numbers were not as bad as expected, or they were better than anticipated), the obvious answer is that a few serious investors have studied their (arcane) National Income and Product Accounting. The stock market is rising because extraordinarily high corporate profits are just around the corner. This is what Prof. Alpert writes in a contribution to the American Thinker blog.

American Thinker is a daily internet publication devoted to the thoughtful exploration of issues of importance to Americans. Contributors are accomplished in fields beyond journalism, and animated to write for the general public out of concern for the complex and morally significant questions on the national agenda.

There is no limit to the topics appearing on American Thinker. National security in all its dimensions, strategic, economic, diplomatic, and military is emphasized. The right to exist and the survival of the State of Israel are of great importance to us. Business, science, technology, medicine, management, and economics in their practical and ethical dimensions are also emphasized, as is the state of American culture.

The Economics Rights Group Holds its 4th Annual Day Long Workshop

The Economic Rights Group (ERG), consisting of about 16 UConn faculty from six different departments including economics, and 10 Affiliated faculty from around the US, holds its 4th annual day long workshop on Saturday April 17. The topic of this workshop is the measurement of government effort towards economic rights fulfillment. It will investigate three measurement approaches: regression residuals, the production possibilities frontier, and the budgetary approach. Economics faculty member Susan Randolph developed the production possibilities approach along with ERG affiliate Sakiko Fukuda-Parr from the New School, while another ERG affiliate, Dave Richards of the University of Memphis, was central in developing the residual approach. Economics faculty member Lanse Minkler has done budget work on the right to employment in the US, following in the footsteps of pioneer and ERG affiliate Phil Harvey of Rutgers University. The group will explore the extent to which ERG should focus on its activities on economic rights measurement, and also an emerging relationship with a prominent Non-Government Organization working on economic rights, the National Economic and Social Rights Initiative, directed by ERG affiliate Cathy Albisa. The afternoon sessions will feature new research presentations by ERG affiliates.

People interested in attending the meeting should contact Prof. Minkler.

Brian Volz to join Assumption College

Recent graduate Brian Volz, advised by Prof. Thomas Miceli, has accepted a tenure track assistant professor position at Assumption College in Worcester, MA. Brian will be leaving UConn, where he currently teaches Intermediate Microeconomics and Public Finance, to join the Assumption College faculty for the Fall 2010 semester. Brian’s research focuses on discrimination and productivity in the professional sports industry. His research on discrimination in professional baseball has been published in the Journal of Sports Economics. He also recently presented his research at the Eastern Economic Association Annual Conference in Philadelphia. Brian plans to continue his research on labor and sports economics as a member of the Department of Economics and Global Studies at Assumption College.

Assumption College is a private, Catholic college with 2,150 undergraduate students. Assumption offers a classic liberal arts education where economics is one of 39 undergraduate majors. Brian will be one of seven full time faculty members in the Department of Economics and Global studies. He expects to teach a variety of courses including Microeconomics, Labor Economics, and Public Finance.

Stockton to Receive Distinguished Alumni Award

The UConn Alumni Association recently announced that David Stockton has been named to receive the 2010 Distinguished Alumni Award. After completing his BA and MA at UConn in just four years (1972-76), under the supervision of Professor Emeritus William McEachern, Stockton obtained a second MA and his PhD in Economics at Yale University. A Danforth Fellow, Yale Fellow, and member of Phi Beta Kappa and Phi Kappa Phi, Stockton joined the Federal Reserve’s Division of Research and Statistics in 1981. Since 2000, he has served as the Director of Research and Statistics, overseeing the Fed’s large staff of PhD economists who conduct research and inform the Fed’s Board of Governors–the architects of U.S. monetary policy.

Both the current Fed Chairman, Ben Bernanke, and his predecessor Alan Greenspan have strongly praised Stockton’s expertise and advice on economic matters. In addition to his responsibilities for directing longer-term research projects at the Fed, Stockton presents regular economic forecasts to the Federal Open Market Committee–the group of officials that regularly meets to decide Fed policies and actions that shape banking operations and interest rates in the U.S. and abroad. Stockton’s public service career continues a family tradition. David’s father, Ed Stockton served as Mayor of the Town of Bloomfield, and later was named Commissioner of Economic Development under Governors Ella Grasso and William O’Neill. The Stockton family’s New Jersey ancestor Richard Stockton signed the Declaration of Independence.

Stockton will be officially honored at an Alumni Association event in the South Campus Rome Hall Ballroom, on October 1, 2010.

There is more about David Stockton in the UConn Alumni Magazine

Spring awards banquet honors students and faculty

On April 1, the department convened for an awards banquet that recognized the best among undergraduate and graduate students, as well as faculty. This year’s award recipients were:

Omicron Delta Epsilon inductees:
Christopher Barrows Wagner
Christopher Basil
Anthony DeMaio
Tyler Gold
Adam Heidbreder
Christopher Martin
Christopher Miller
Nicole Myers
Daniel Peacock
Lukas Sosnow
Stephen Stephanou
Spencer Swan
Ryan Zuskowski

Undergraduate awards
Louis D. Traurig Scholarship
Lucia Caldari
Mark Connolly
Yixian Lai
Alex Upton

Paul N. Taylor Memorial Prize
Alexander Bansak
Kevin Landry

Rockwood Q. P. Chin Scholarship
Connor Grant
Michael Gurdjian
Thomas Knecht
Daniel Peacock
Brooke Smith
Kristina Sowin
Christopher Waldo
Gang Yin

Abraham Ribicoff Scholarship
Joseph Antelmi
Michael Bokoff
Philip Gorecki
William Kimball

Economics Department Scholarship
Alex Upton

Graduate awards
W. Harrison Carter Award
Lei Chen

Albert E. Waugh Scholarship
Maroula Khraiche

Abraham Ribicoff Graduate Fellowship
Michael Stone

Economics Department Graduate Fellowship
Elizabeth Kaletski
Lisi Shi
Robert Szarka
Wei Wang
Yuan Wang

Ross D. MacKinnon Graduate Fellowship
Leshui He

CLAS Dean’s Fund Graduate Fellowship
Matthiew Burnside
Maroula Khraiche
Xiaoming Li
Michael Stone

Faculty Awards
Grillo Family Research Award
Vicky Knoblauch

Grillo Family Teaching Award
Delia Furtado

Congratulations to all recipients!

Prof. Carstensen article in Hartford Courant

Last Sunday’s Harford Courant featured a full page article by Prof. Carstensen. As a director of the Connecticut Center for Economic Analysis (CCEA), he is frequently asked to testify in Hartford or speak in the media, and this article summarizes his take of the state of the State of Connecticut.

He opines that Connecticut has an economy with a shrinking working age population with declining skills that is typically slow to recover from a recession. From a policy perspective, he argues that the State needs to push the life science sector and address the unusually high energy costs and the inadequate transportation infrastructure. The aging population will also require more services than before. Finally, the State needs to provide a stable business environment with respect to taxes.

Zinnia Mukherjee defends thesis and teaches at Connecticut College

Zinnia Mukherjee defended her dissertation in December 2009, and is currently a Visiting Assistant Professor of Economics at Connecticut College, New London, CT. Her dissertation, titled “Three Essays on Conservation of Endangered Species”, analyzes the effectiveness of policies involving regulatory threats in controlling stochastic externalities. In addition, the dissertation analyzes the welfare effects of unilateral conservation policies in an open economy under alternative market structures and resource management regimes. Zinnia’s advisor is Prof. Segerson.

Currently, Zinnia is working on two new research projects. The first is funded by the UConn Center for Environmental Sciences and Engineering through a Multidisciplinary Research Award that Zinnia received in 2009. The project develops a bio-economic discrete choice model to analyze how fishers decide to allocate their fishing effort among various fish species and fishing zones, given that species vary in terms of their sensitivity to marine hypoxia. The impact of marine hypoxia on fish landings is estimated for several Long Island Sound fisheries located in different areas along the coast of Connecticut. The second project looks at the impact of differences in U.S. state laws on the incidence of crime against women (sexual crimes) and the potential migration of repeat offenders across states to target preys more easily and escape harsher penalty sentences.

At UConn, Zinnia has taught a wide variety of undergraduate courses. She had been actively involved with the Association of Graduate Economic Students (AGES) throughout her grad school years and presided over the organization in 2007-2008. She is currently enjoying her work experience at Connecticut College.

Graduate alumni reunion program announced

Here is the program of the various events to happen on April 1 and 2, 2010.

Thursday, April 1, 4:00 pm – Philip. E. Austin Forum on Economics and Public Policy, Robert Stavins (Harvard University), “Climate Change Policy After Copenhagen,” Student Union Ballroom.

Thursday, April 1, 7:00 pm – Economics Department Annual Awards Banquet, Bishop Center.

Friday, April 2, 8:30 am to 4:00 pm – Graduate Reunion and Forum, alumni research papers, professional experience panel, and graduate research, Bishop Center.

8:30amContinental Breakfast (Room 7 lobby, downstairs)

9:00am

Welcome: William Lott, department head
Program Overview: Dennis Heffley, Professor of Economics

9:10am

Session 1: Alumni Research Papers and Presentations
Moderator: Leshui He, Past President, Association of Graduate Economics Students (AGES)
Dipasis Bhadra (PhD, UConn), Senior Economist, Federal Aviation Administration, US Department of Transportation
“Air travel in the US: How do we travel, where do we travel, and why do we travel?”
William Place (PhD, UConn), Medical Economist, Aetna Informatics, Hartford CT
“Behavioral and health care outcomes of wellness program participants”
Philip Shaw (PhD, UConn), Assistant Professor of Economics, Fairfield University
“Nonparametric Instrumental Variable Estimation in Practice”
Alice Zawacki (PhD, UConn), Senior Economist, Center for Economic Studies, US Bureau of the Census
“Searching for data? Using the Census Bureau Research Data Centers?”

10:30am

Coffee Break: Lobby

10:45am

Session 2: Alumni Professional Experience Panel
Moderator: Steven Lanza (PhD, UConn), Executive Editor, The Connecticut Economy
Laura Bhadra (MA, UConn; PhD, American University) Assistant Professor of Economics and Program Head, Northern Virginia Community College, Manassas VA
“Economics and Movies: a hybrid course”
Natalya Shelkova (PhD, UConn) Assistant Professor, Guilford College, Greensboro NC
“From job market to new job”
Hemanta Shrestha (PhD, UConn) Senior Analytics Manager, Sprint Nextel Corporation, Warren, NJ
“Building propensity models for customer targeting”
Monica Tedeschi Cantor (MA, UConn) Financial Strategist and VP, New York City Economic Development Corporation 2005-2007
“Pursuing a career in economic development: a New York City example”

12:00pm

Lunch: Bishop Center

1:45pm

AGES: Matthiew Burnside, President AGES
Introduction of officers
A word about AGES

2:00pm

Session 3: Graduate Research
Moderator: Rasha Ahmed(PhD, UConn), Assistant Professor, Trinity College, Hartford
Lei Chen (ABD, UConn)
“A study of the production technology of the US dental care industry”
Paramita Dhar (ABD, UConn)
“School quality and property values”
Patrick Flaherty (ABD, UConn), Economist, Office of Research and Information, Connecticut Department of Labor
“Tracking the recession in Connecticut: a view from the Department of Labor”
Monika Lopez-Anuarbe (PhD, UConn), Visiting Instructor, Connecticut College, New London CT
“Intergenerational transfers in the long term care market”
Michael Stone (ABD, UConn)
“Three essays on the economics of tort law”

Special thanks to Andreas Karapatakis (PhD, 1992) for his generous support of the Department of Economics 2010 Graduate Reunion and Forum and Annual Awards Banquet.

Parking: If you are traveling to campus by car, parking permits for the lot adjacent to the Bishop Center (just south) will be available at the continental breakfast. Just park, come inside to the lower level and pick up a permit to place in your car. You should be able to park in the lot the entire day if the permit is displayed in the vehicle

PS: Some pictures of the event are available.

Anuarbe defends thesis and continues to teach at Connecticut College

Monika Lopez-Anuarbe defended her thesis on Friday, February 19, 2010, under the supervision of Prof. Dennis Heffley. Her dissertation examines the time and money transfers between elderly parents and their offspring, particularly inter vivos monetary gifts by parents and time assistance by children. Using a unique panel database containing detailed information on thousands of families over a 10-year period (1993-2002), Monika was able to uncover some interesting links that earlier cross-sectional studies have missed. The analysis suggests that intergenerational transfers between parents and their children are planned processes that unfold over time and are affected by the characteristics of the parents and the offspring. The study also helps to identify specific state policies that have been most effective in encouraging family-based health care for the elderly. As a graduate student, Monika taught courses at the Storrs, Hartford, and Avery Point campuses, as well at Trinity College and Wesleyan University. Since 2006, she has taught principles courses in microeconomics and macroeconomics, intermediate microeconomics, health economics and industrial organization as a Visiting Instructor at Connecticut College. For the past several years, Monika also has published various elements of her research (Long-Term Care Interface Journal, 2007), co-authored papers based on earlier team studies (Journal of the American Dental Association, 2005), and has presented her findings at several professional conferences and academic seminars.