BA

BA alumnus David Stockton receives UConn Distinguished Alumni award October 1, 2010.

The UConn Alumni Association will give the 2010 Distinguished Alumni Award to David Stockton on October 1. 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. Earlier in the day, he will meet with Honors students and give a talk in the Department of Economics.

For more about this event, the UConn Alumni Association write-up about David Stockton and the list of the other award recipients of the day. The UConn Alumni Magazine also ran a story about David Stockton.

Alumnus creates scholarship for Economics undergraduates

Most students begin their careers in earnest when they graduate from college. But Ross Mayer (BA Economics 1970) started his career in college, selling life insurance policies to students, Storrs residents and others in Connecticut and New York. He was so good at it that Connecticut General Life Insurance Company hired him right out of UConn, eventually making him a branch manager in Boston. Ten years later, he set out on his own.

His commitment to learning the business – and to connecting with his clients – defined his career. A full-service financial planner who is an associate of Commonwealth Financial Group, a MassMutual agency in Boston, he recently established a President’s Challenge Award for a UConn economics student in need.

Mayer had made a planned gift to UConn earlier, after he received a diagnosis of terminal prostate cancer. But with the help of a UConn Foundation development officer, who, Mayer says, “really had the kids at UConn at heart,” he created the scholarship to have an impact now, during his lifetime.

For a complete story, see Our Moment, the UConn Foundation’s e-newsletter.

Teju Owoye: Checking in from San Diego

Since graduating in May 2007, with a major in Economics and a minor in Business, Teju Owoye served as an Account Manager at Aetna’s corporate offices in Charlotte, North Carolina. Working in Aetna’s National Accounts division, she managed the company’s relationship with nine major employers that have health insurance contracts with Aetna. While at Aetna, Teju also directed activities related to the company’s $225,000 investment in the American Heart Association’s “Start Charlotte” program—an effort to promote better health habits within corporations and the community. Teju’s contributions to the program were highlighted in the September 2009 issue of Corporate Incentive Travel and the Spring 2010 issue of Ballantyne Magazine. In 2008, Aetna recognized Teju’s accomplishments by selecting her for the Aetna Way Excellence Award in Leadership.

During her tenure at Aetna, Teju developed a passion for helping individuals achieve their health and wellness goals through positive lifestyle changes. She is the founder of the Inspire Change Workshop, which is a seminar designed to teach corporate employees how make time for healthy eating and exercise during the day. Recently, Teju left Aetna to pursue her passion full time in San Diego, CA. She is currently working as a personal trainer in Solana Beach, CA. She also is piloting the Inspire Change Workshop in California, while starting a health and fitness consulting business.

Teju plans to continue her education by pursuing a master’s degree in health policy, and she is currently co-authoring a paper (“The Impact of Current Global Economic and Financial Crisis on the Economies of Emerging and Developing Regions”) with her father, Dr. Oluwole Owoye, a Professor of Economics at Western Connecticut State University.

BA alum named President and CEO of Walmart U.S.

William S. Simon, a University of Connecticut Economics BA from 1981, has recently been named President and CEO of the US operations of Walmart. He was previously chief operating officer at Walmart, senior vice president of global business development at Brinker International, which operates Chili’s Grill & Bar and other restaurants, and before that Secretary of the Florida Department of Management Services. He is a retired officer from the U.S. Navy and Navy Reserves after 25 years of service.

Read more at UConn Today

Prof. Ross to publish in the Review of Economics and Statistics

Prof. Stephen Ross with his co-authors Eric Brunner (BA alumnus) and Ebonya Washington had their paper “Economics and Policy Preferences: Causal Evidence of the Impact of Economic Conditions on Support for Redistribution and Other Ballot Proposals” accepted recently at the Review of Economics and Statistics, one of the leading journals in the profession.

In this paper, they analyze voting data on California ballot propositions between 1990 and 2004 classifying these propositions based on their political leaning (Democrat vs. Republican) and based on the type of proposition (fiscal vs. social). They find strong evidence that positive economic shocks lead to declines in support for redistributive policies using an exogenous proxy for economic shocks based on changes in national employment composition and the composition of worker industry at the neighborhood level. Further, they find that voters behave as if the voters have a preference for consistency in political preferences so that economic shocks have a smaller but similar impact on voting on non-economic ballot issues.

Prof. Langlois reports about his travels in Europe

Professor Richard Langlois is currently traveling in the United Kingdom as a Visiting Fellow of the Academy of Advanced International Management. He will be giving a series of talks in Lancaster, London, and Edinburgh. As part of the trip, he will also attend conferences in London, Scotland, and Denmark. Professor Langlois’s first stop in the UK was Nottingham, where he spoke at the Nottingham University Business School and touched base with UConn’s Marshall Scholar Michelle Prairie (pictured), who is completing her M. S. in Economics at Nottingham before moving on for another Masters degree at the London School of Economics in the fall.

On June 13 he visited the Lake District of Cumbria, where he discovered not only another Storrs but also a Storrs Hall, built in the 1790s and famously the home of John Bolton, a Liverpool ship owner who engaged in the “triangular trade” – including slaves – among Africa, the West Indies, and Britain.

Economics alumnus runs for Senate seat

Noted economist, fund manager, entrepreneur, race car builder, and UCONN alumnus Warren Mosler is seeking the office of US Senate to add ‘fixed the US economy’ to his long list of accomplishments. Mosler, a native of Connecticut who graduated from Storrs with a B. A. in Economics in 1971 is running for the US Senate seat being vacated by Senator Christopher Dodd.

Since graduation, Warren has spent 37 years in various financial institutions from Manchester, Hartford, New York, Chicago, and South Florida, including the founding III Offshore Advisors in 1982 and, in 1983, AVM L.P., a broker/dealer providing advanced financial services to large institutional clients. During these years he developed numerous investing strategies utilizing US Government securities and created the mortgage swap and euro swap futures contract. He maintains strong connections to the academic world as Co-Founder, along with L. Randall Wray, of the Center for Full Employment And Price Stability at the University of Missouri in Kansas City. Mosler also has supported research projects and graduate students at the London School of Economics, the New School, Harvard University, and the University of Newcastle, Australia. Additionally, Warren is an Associate Fellow at the University of Newcastle, Australia. Warren is the author of numerous publications, of which the latest is ‘The Seven Deadly Innocent Frauds of Economic Policy’ (Mosler, 2010), which challenges several contemporary assumptions about the relationship between government spending, federal debt, and taxation and opens the door to an immediate return to economic prosperity.

Warren is the original contemporary proponent of what has come to be called Modern Monetary Theory (MMT). MMT begins with the operational fact that Federal taxes serve to regulate aggregate demand, rather than to raise revenue per se, and that funds to pay Federal taxes indeed originate from government spending itself. Warren’s campaign platform is based on three proposals designed to fix the nation’s economy within 90 days. The three proposals are as follows:


  1. Declare a “payroll tax holiday” where the U.S. Treasury will suspend deduction of all FICA taxes. That means the take home pay of someone earning $50,000 a year will rise by approximately $325 per month, fixing the economy from the bottom up, vs the current top-down bailout method.
  2. An unrestricted $500 per capita Federal revenue sharing distribution to all the State governments. This proposal mean about $1.75 billion for Connecticut.
  3. Fund an $8/hr. National Service Jobs program for anyone willing and able to work to facilitate the transition from unemployment to private sector employment, as the first two proposals will cause the large increases in private sectors business sales that quickly translates into the millions of new jobs we desperately need.

Since leaving Connecticut for Wall Street in 1976, Warren has lived and worked in New York City, Chicago, South Florida, and the US Virgin Islands. Additionally, while in Florida, he founded Mosler Automotive, which produces the world’s top performing sport cars. Warren returned to Connecticut this year to run for the US Senate solely as a matter of conscience, and not ambition. He sees himself as uniquely qualified to fix the economic problems facing the US economy.

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

Honors alumnus to be honored by UConn Honors program

Roger Ballentine, 1985 Honors Economics BA, will be recognized on April 30 by the UConn Honors program as one of the 2010 Honors Distinguished Alumni Award Recipients. Mr. Ballentine is President of Green Strategies Inc., an environmental consulting firm based in Washinction, D.C., working with clients in the energy and environmental arena on public policy matters, investment guidance in the “clean tech” marketplace, marketing and business development strategies, sustainability, and capital formation. Mr. Ballentine was a senior member of the White House staff in the Clinton Administration as Chairman of the White House Climate Change Task Force and Deputy Assistant to the President for Environmental Initiatives. Previous to these duties, he was Special Assistant to the President for Legislative Affairs, where he focused on energy and environmental issues. He is a frequent radio and television commentator.

Mr. Ballentine graduated magna cum laude from UConn, then cum laude from the Harvard Law School. He is a member of the bar in Connecticut, the District of Columbia and the US Supreme Court. He serves on many boards, in particular as founding board member of the American Council on Renewable Energy and on the International Advisory Council of the Department of Energy’s National Renewable Energy Laboratory. He is also a Lecturer at the Harvard Law School, teaching in the area of energy and climate policy, and a Senior Fellow at the Progessive Policy Institute.