Announcements

2024 UConn Leafy LAEF Conference

2024 UConn Leafy LAEF Conference Logo

The Department of Economics is hosting the UConn Leafy LAEF Macro Conference in Storrs, CT, on October 25-26, 2024, jointly with the Laboratory for Aggregate Economics and Finance (LAEF) at the University of California, Santa Barbara.

LAEF was established in July 2005 to address important questions on growth and fluctuations in national, or aggregate, economies. It is directed by Professor Finn Kydland, Nobel Laureate (2004), Jeffrey Henley Professor of Economics at UCSB.

The conference will feature approximately 9 to 10 papers. Submissions from all areas of macroeconomics and adjacent fields are welcome. We hope you will find this conference of interest and will submit your work. The submission deadline is April 30, 2024.

You can find the call for paper and the submission portal here.

Stamford Students meet Chairman Powell at the Federal Reserve Board

The UConn Stamford College Fed Challenge 2023 team attended the College Fed Challenge Open House at the Federal Reserve Board of Governors in Washington, D.C. on February 9, 2024.

At the Open House, students had the opportunity to network with their peers, hear from Chairman Jerome Powell and staff from the Monetary Affairs division – all in celebration of the 20th anniversary of the Board hosting the College Fed Challenge finals.

This trip has an educational value that cannot be replicated through any other venue. Students’ learning outcomes included: 1) experiential learning at the Federal Reserve Board of Governors; 2) deeper knowledge acquisition of the structure of the Federal Reserve Board, conduct of monetary policy, and internship and employment opportunities at the Board; 3) networking with the Federal Reserve officials and students from other universities.

The highlight of the trip was the meeting with Chairman Powell and taking a picture with him.

Group photo of Fed Chairman Powell standing with Stamford students and Professor Natalia Smirnova
First row: (from left to right) Kiet Tran, Professor Smirnova, Chairman Powell, Adrien Vincent, Kevin Jankowski; second row: (from left to right) Noah Park, Felix Brito-Velazquez, Parth Trivedi

The trip was organized by Professor Smirnova, the faculty adviser to the team, and made possible by collaborative efforts of the Economics Department, CLAS Associate Deans Office, the Business School, and the Stamford campus. The students are grateful for the opportunity to expand their economics knowledge and career competencies such as teamwork, professionalism, and career and self-development.

We ate the cake too!

Cake

UConn Stamford Team Competes in the 2023 College Fed Challenge

The UConn Stamford team participated again this year in the College Fed Challenge national competition. The College Fed Challenge is a team competition for undergraduate students. Teams analyze economic and financial conditions and formulate a monetary policy recommendation, modeling the Federal Open Market Committee.

The Fall 2023 Stamford team consisted of seven students who represent a diverse set of majors and minors at the Stamford campus.

UConn Stamford Fed Challenge team members
UConn-Stamford Team before the Orientation at the Federal Reserve Bank of New York on September 12, 2023. From left to right: Kiet Tran, Noah Park, Danile Barreto, Dr. Smirnova, Kevin Jankowski, Adrien Vincent, Serhiy Kotsopey (TA), Felix Brito-Velazquez, and Parth Trivedi.

Daniel Barreto, Team Leader. He is a senior majoring in Economics. His passion lies in understanding the intricate workings of the economy, a skill he found invaluable in his ventures within financial markets. One of his primary career goals is to perpetually expand his knowledge and push his limits in life. His part-time position at a law firm, which commenced in the spring, has played a pivotal role in advancing his aspirations of becoming a corporate lawyer. Daniel’s summer fellowship at WaveAerospace provided him with invaluable insights into the dynamics of a small business startup. It was an experience that deepened his understanding of economics and business, further propelling him toward career goals. Upon graduation, Daniel plans to pursue further studies in corporate law. Read Daniel’s reflection here.

Felix Brito-Velazquez is a senior majoring in Economics. He has embarked on his journey in economics driven by a genuine interest in how money shapes our society. His passion for economics started as he experienced the consequences and witnessed the complexities behind Venezuela’s economic collapse, a crisis triggered by government intervention in the central bank and private sector. This early curiosity has since evolved into a broader interest including politics, finance, and history. In parallel to his academic pursuits, he has spent the last five years as a Personal Banker at Bank of America, where he has had the opportunity of helping individuals navigate their financial decisions. It’s his deeply held aspiration to merge his academic knowledge, real world experience, and enthusiasm to play a meaningful role in crafting a more equitable economic environment for all. Read Felix’s reflection here.

Kevin Jankowski is currently in his third year at the University of Connecticut, where he is studying Financial Management with a minor in Economics. Kevin is passionate about his academic pursuits and has plans to continue his education with a master’s degree in quantitative risk management. Kevin’s career goal is to enter the world of Investment Banking. He is dedicated to working hard and seizing opportunities to expand his knowledge and skills. Read Kevin’s reflection here.

Tuan Kiet Tran comes from Vietnam. He is a sophomore majoring in Marketing Management. The striking cultural contrasts between his homeland and the US have opened his eyes not only to the vast economic disparities but also to the power of decision-making on a global scale. His passion for economics stems not merely from textbook theories but from witnessing the profound impact that decisions made by a few can have on the lives of millions. This understanding deepened as his personal hobby of cooking confronted him with the stark reality of escalating grocery prices. The surge in daily expenses prompted his curiosity, leading me to participate in the Fed Challenge. Kiet’s involvement in the Fed Challenge further enriched his understanding, demystifying the forces behind inflation and potential countermeasures. As he continues his academic journey, he remains committed to bridging the gaps between theory, personal experiences, and real-world implications. Read Kiet’s reflection here.

Parth Trivedi is a senior majoring in Economics. As a teenager, he had a passion for economic theory which he was able to nurture with the guidance of the Econ department at UConn. The Federal Reserve Challenge has lived up to its name, testing Parth’s analytical and communication skills. Though Parth had hoped to win, he hopes that the experience of a competition itself will allow him to prove himself capable as a professional Economist.

Noah Park is the Student Body Vice-President and a senior majoring in Digital Media & Design and minoring in Economics. Noah was honored to represent our university’s economics team, especially for the prestigious College Fed Challenge competition at the Federal Reserve Bank of New York. As a team member, Noah closely examined and forecasted trends within the current housing market. While his primary major may seem distinct from economics, he firmly believes in the importance of understanding financial markets across all sectors. His passion for economics was ignited by his fascinations with numbers, especially measuring statistics for his favorite sport, the NBA, as well as his desire to comprehend the complexities behind the 2008 housing market crash, a pivotal event that highlighted the far-reaching consequences of economic shifts today.

Noah’s commitment to both design and economics is a testament to the diverse and integrative education offered at UConn-Stamford, demonstrating the symbiotic relationship between design thinking and economic acumen. Post-graduation, his aspirations are both clear and ambitious. He intends to seamlessly weave business and economics in his personal endeavors, focusing on individuals, particularly those with ADHD. By tapping into the synergies of his academic background, Noah plans to devise strategies to empower individuals with ADHD to enhance their executive functioning skills, enabling them to lead more fulfilled and productive lives. In tandem with this venture, Noah is fervently pursuing a part-time position as a summer TA at Yale University. This role promises to be a keystone in his academic journey, facilitating his advancement in the management master’s program and allowing Noah to further delve into the confluence of design, economics, and impactful pedagogy. Read Noah’s reflection here.

Adrien Vincent is a sophomore pursuing Financial Management with a passion for entrepreneurship. Throughout his college experience, Adrien has strived for success in the business world through various internships and the Student Government CFO of UConn Stamford. His drive for business ventures has allocated his goals in various directions, which gratefully enabled him to join the Fed Challenge Team at Stamford. Aside from Adrien’s business ventures, he enjoys branching out into other interests and hobbies, such as playing in chess tournaments, producing music, and going camping. Read Adrien’s reflection here.

The 2023 competition was still virtual, but the Orientation at the Federal Reserve Bank of New York was in-person. The 2023 team’s video is available here.

The experience of the College Fed Challenge competition is an extraordinary way to build career competencies. As students reflected in their essays, the course teaches them not only economics knowledge, but also critical thinking, communication, and team building skills. Participation in this competition becomes a cornerstone of their academic career at UConn and is offered as ECON 3492-Practicum course.

Professor Furtado Takes On New Editorial Roles

Professor Furtado is now a co-editor at the Journal of Economic Behavior and Organization (JEBO) and a specialized co-editor at Economic Inquiry.

From the journals’ webpages:

Cover of the Journal of Eocnomic Behavior and Organization“The Journal of Economic Behavior and Organization is devoted to theoretical and empirical research concerning economic decision, organization and behavior and to economic change in all its aspects. Its specific purposes are to foster an improved understanding of how human cognitive, computational and informational characteristics influence the working of economic organizations and market economies and how an economy’s structural features lead to various types of micro and macro behavior, to changing patterns of development and to institutional evolution.”

Cover of the journal Economic Inquiry“Economic Inquiry is a highly regarded scholarly journal in economics publishing articles of general interest across the profession. Quality research that is accessible to a broad range of economists is the primary focus of the journal.”

For both journals, Professor Furtado is handling papers in labor and demographic economics.

Early College Experience Economics Students from Greenwich High School Win the High School Fed Challenge

Greenwich High School team featured in the Journal of Future Economists, 2023, FRBNY: page 78.

During 2022-2023 academic year, Greenwich High School students enrolled in the Early College Experience (ECE) Economics courses taught by Mr. Ian Tiedemann participated in the High School Fed Challenge, which is an academic competition where teams of students act as future economists. The competition is administered by the Federal Reserve Bank of New York and offers the opportunity for students to develop skills in teamwork, research, data literacy, and analytical writing. Student teams author economics research and pursue recognition in the Federal Reserve Bank of New York’s Journal of Future Economists.

In June, the announcement of the winners of the essay content came out, and we learned that Greenwich HS team is one of the winners! Their essay “It’s a (s)Mall World: Globalization, E-Commerce, and Shopping Malls” is included in the Journal of Future Economists, 2023: pp. 78-91.

We congratulate the team of students: Ambika Grover, Ryan Kaufman, Cindy Li, Max Lu, Amrutha Nandakumar, Charles Andrew Miranda, Nicole Orlofsky, and Elliott Gordon.

We congratulate their teacher, certified ECE Economics instructor, Mr. Ian Tiedemann.

Through the Office of Early College Programs, the Economics Department works closely with 58 UConn ECE certified Economics instructors representing 42 different partner high schools across the state. In 2022-2023 academic year, 785 students were enrolled in 64 UConn Economics courses (ECON 1000, 1201, 1202). Since some students take more than one course, there were 1225 total enrollments.

The impact on students who take Early College Experience (ECE) Economics courses is manyfold. They get acquainted with the academic rigor of CLAS, gain familiarity with the University as a whole, and publicize the prominence of UConn across the nation and around the world when gaining acceptance to institutions of higher education.

ECE students’ success reflects positively on the University of Connecticut, as these students continue to prosper throughout the country at the various universities and colleges they attend. Their continued success is indicative of their college readiness in part due to their enrollment in the UConn ECE program.

2023 Spring Awards Banquet

Uconn sealOn April 13, 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 are:

Undergraduate Awards

Economics Department General Scholarship

Pin Lyu
Justin Wu

Kathryn A. Cassidy Economics Scholarship

Solaiman Chowdhury
Annaliesa Wood

Rockwood Q. P. Chin Scholarship

Lila Pickerign
Stratton Stave
Ruoqi Wang
Qiaozhi Zhou
Ziyun Zhou

Louis D. Traurig Scholarship

Aidan Adams
Erik Choi
Ian Ferguson
Nadine Fernando
Sophia Lemirei

Paul N. Taylor Memorial Prize

Colman Tokar

Julia & Harold Fenton and Yolanda & Augustine Sineti Scholarship

Annelise Montuori

Charles Triano Scholarship

Summer Beebe
John Doran

Dr. Joseph W. McAnneny Jr. Scholarship

Adem Aksoy
Dylan Champagne
Keven Coşgel
Eleanor Gross
Anthony Ho
Shuhan Jiang
Isabella McClure

Ross Mayer Scholarship

Jackson Bright
Virag Korniss


Graduate Awards

Albert E. Waugh Scholarship

Miranda Mendiola Valdez

W. Harrison Carter Award

Matthew Brown
Victor Volkman

Abraham Ribicoff Graduate Fellowship

Abdulmoshen Almuhaisen

Timothy A. and Beverly C. Holt Economics Fellowship

Satadru Bhattacharyya
Xiaofeng Gong
Phillip Hwang
Shangyue Jiang
Meng Song
Feifan Wang
Xinrui Wang

Economics Department Research Excellence Award

Anastassiya Karaban

Best Third Year Paper Award

Kunze Li

 

Faculty Awards

Grillo Family Research Award

Daniela Vidart

Grillo Family Teaching Award

Jorge Agüero

Employee Appreciation and Farewell

Rosanne Fitzgerald
Nishith Prakash

Faculty Recognition: National Academy of Sciences

Kathleen Segerson

 

Congratulations to everyone!

 

In Memoriam: Jorge Agüero

It is with great sadness that we announce the passing of our colleague, Jorge Agüero. We mourn his loss, and extend our deepest sympathy to his family. Condolences may be shared online, and his obituary may be found here and below.

Jorge M. Agüero, 51, of Mansfield Center, CT passed away on May 7, 2023 due to complications from pancreatic cancer.

Jorge was Associate Professor of Economics and El Instituto at the University of Connecticut, where he has worked since 2013. He was also affiliated with the Institute for Collaboration on Health, Intervention, and Policy (InCHIP) at the university as well as the Group of Development Analysis (GRADE) in Peru. Known in his fields for his keen eye towards recognizing quality research, he served as an editor of the Review of Economics of the Household and the South African Journal of Economics. He was a regular participant in National Bureau of Economic Research (NBER) meetings.

A true scholar with a curious mind, Jorge was excited to talk about ideas with anyone answering interesting questions with data, but his passion was for research that would improve the lives of the disadvantaged in developing countries. He made incredible contributions in the areas of health, education, discrimination, and gender, focusing on timely topics with policy implications. During the pandemic, when so many turned to sourdough starters and Netflix, Jorge worried about how declines in economic activity would affect intimate partner violence in Peru and immediately went to work on this. He was widely published in top-tier economic journals such as the Journal of Human Resources, the Journal of Development Economics, and the AEA Papers and Proceedings. He received grants for his research from the United Nations Population Fund, the World Bank, and the Inter-American Development Bank in addition to numerous internal grants from the University of Connecticut. He thoroughly enjoyed presenting his work at conferences and seminars around the world, delivering keynote addresses at the 8th International Congress of Education in Colombia, the XI Meeting of Peruvian Students of Economics in Lima, and the VI Meeting of Mexican Students of Economics in Ciudad Juarez.

Jorge was renowned for his wise and caring mentorship of students and colleagues. Born in Lima, Peru, to a family of modest means, he was particularly passionate about mentoring individuals traditionally underrepresented in the field of economics, such as women and minorities. Most of his papers were coauthored with doctoral students and early-career scholars. He had a knack for taking a student’s rough idea, seeing its potential, and then working with the student to make it a solid piece of research. Jorge always asked tough questions in the spirit of trying to understand and make the work better, but was also the first to congratulate colleagues and students on successes big and small.

At the undergraduate level, Jorge taught a variety of courses in development economics and global health. He pushed all of his students to think deeply and critically; this devotion to quality teaching was recognized formally by the University of Connecticut and informally by the number of students calling him the “best professor I have ever had” on social media.

A selection of quotes from students and colleagues demonstrates Jorge’s passion and attention:

Jorge taught me how to love my work. He told me in my second year of Ph.D. — “you should always work on something that makes you get up in the morning and excited to start the day”. I have always had that in my mind as I have progressed through my career. -Pallavi Panda

He taught me panel data econometrics with uncommon humour. -Chijioke Nwosu

He brought wisdom and of fun in equal measure to his collaborations with colleagues at the UKZN School of Development Studies in the early 2000s. -Glen Robbins

Jorge, you have been a great and encouraging senior colleague, down to earth, insightful, and generous. Thank you for making the world, the profession, and the NBER rooms in Boston and beyond better: because of you, they were warmer, brighter, and smarter places. -Alex Eble

In addition to his academic work, Jorge was a passionate soccer fan, traveler, and food lover. He loved the Barcelona Football Club and his antipathy for Real Madrid will persist for all eternity. Jorge had special connections to his home country of Peru; to Spain, where he received his Master’s degree and returned this fall as a Visiting Professor; and to South Africa, where he conducted his dissertation research. His years were normally full of back-to-back travel. He seemed to always be eagerly looking forward to more journeys both personal and professional. He was a considerate and loving husband, a proud father, an esteemed colleague and a beloved friend. He brought laughter and a quick wit to any situation. He will be greatly missed.

Jorge is survived by his wife Michele Back, son Gabriel, and parents Jorge Jesús Marcelo and Gloria León. Jorge was predeceased by his brother, Rafael Antonio.

A celebration of his life will take place in the early fall at a date to be determined by the family.

International PhD Students Start Careers in the US Financial Industry

Ziyun Wu, Ruohan Huang, and Xuejian Gong

We are delighted to share that three of our 5th-year PhD students focusing in econometrics, Xuejian Gong, Ruohan Huang, and Ziyun Wu, recently accepted (full-time) job offers in the US financial industry.

Xuejian has accepted a job offer as assistant vice president for wholesale credit risk management at Citi Institutional Clients Group. His dissertation (advised by Professor Duke Kao) is about applying distributionally robust optimization in economic and financial models. Ruohan has started her career at OneMain General Services Corporation as a senior analyst in credit, pricing, and analytics. The subject of her dissertation (advised by Professor Jungbin Hwang) is financial econometrics, focusing on empirical asset pricing models. Lastly, Ziyun has started work as a data scientist at Hartford Steam Boiler – Munich Re. Her dissertation (advised by Professor Duke Kao) studies the machine learning approach in asset pricing.

All three students commented that their programming language skills and understanding of various econometrics/statistical theories from their PhD training were key factors for their success in the job market. Also, they pointed out the importance of earlier preparations for the industry job market, as most companies for quantitative analyst positions have at least two rounds of interviews for coding and critical thinking.

We are again pleased to congratulate our PhD students’ achievements in their job markets and know that they will have great success in their careers in financial industries!

Professor Smirnova Recognized by the UConn Center for Career Development

Professor Natalia Smirnova’s presentation of Career Readiness at the AEA 2023 Conference has been recognized by the UConn Center for Career Development in their most recent newsletter:

Presentation of Career Readiness at the American Economic Association Annual Conference

The full article may be found online at:

https://career.uconn.edu/blog/2023/04/02/presentation-of-career-readiness-at-the-american-economic-association-annual-conference/