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Public Economics Students Propose Policy Solutions for Connecticut Waste Management Problem

Posted on November 22, 2024 by McConnel, Mark

During the Fall 2024, the students in the ECON 3431- “Public Economics” course at the Stamford campus worked with the industry professional to research, analyze, and propose policy solutions to the imminent State of Connecticut problem of Solid Waste Management.

The applied nature of the course allowed students to experience every aspect of public policy development from problem identification, ideation, research of the literature, data gathering, analysis, and policy recommendation formulation.

In addition to Professor Smirnova, who is the instructor of this course, the students worked under the mentorship of Mr. Brian Bartram (CLAS’ 94), who has been the manager of the Salisbury/Sharon (CT) Transfer Station in Connecticut since 2007. At that time Salisbury & Sharon were seeking design ideas to be used in the construction of a new transfer station. Since then, Brian has been active in the Northeast Resource Recovery Association, CT Department of Energy & Environmental Protection’s Solid Waste Advisory Committee, and CT Product Stewardship Council. In 2012 he was appointed by Gov. Malloy to be a member of the Modernizing Recycling Working Group. Brian completed the UConn Master Composter Program in 2015.

Students were assigned to groups to imitate the economic think-tank work environment. Each group selected their topic through the process of ideation based on Brian’s presentation about the acute waste management problem in Connecticut. The following research questions were formulated and answered during the semester:

Cost Benefit Analysis of Installing a Methane Capture System at the Manchester, Connecticut Landfill.
Government Policies Promoting Recycling and Landfill Use Reduction.
Where Did Your Old TV Go?
What is the Most Cost-Effective Waste Conversion Technology for Connecticut Municipalities?
How does Connecticut Dispose of Waste Tires?

At the completion of the course, student teams presented their findings to the class with Mr. Bartram visiting the class virtually, asking questions, and commenting on issues. Brian reflected that he “really enjoyed how different student teams were looking at the issue from different angles. Solid waste is a national, regional, state, and local issue. All different views and situations need to be considered and assessed.”

Through this exercise, students learned to collaborate with and present and defend their findings to the industry expert. Collaborative experiences such as this, between UConn students and the State of Connecticut professionals, are invaluable in preparing our students for careers in industries and the public sector. By integrating the workplace analytical approaches into the curriculum of applied courses, we are teaching students career competencies that are demanded of them upon graduation.

UConn Storrs Fed Challenge Team Advances to National Finals

Posted on October 21, 2024 by McConnel, Mark

Congratulations to the UConn Storrs Fed Challenge team!

Over the past few days, the undergraduate students on the Fed Challenge team competed in the Boston Federal Reserve (Boston Regional) Fed Challenge competition, and they excelled – first advancing to the Boston Regional Finals, and then advancing to the National Finals.

As a result, in November the team members will be presenting their economic forecasts and monetary policy recommendations to the Federal Reserve in Washington, DC. This is an exceptional achievement.

A brief recap of the Boston event… On Friday, October 18th, the team competed with 23 other universities and colleges in the New England Boston Federal Reserve district. For the first round, the 24 teams (universities and colleges) were divided into six groups of four, with the winner of each group moving on to the Boston Regional Finals.

The UConn team won in its group, and earned its spot in the Regional Finals, joining the other five other Regional Finalists (Yale, Harvard, Wellesley, Babson and Dartmouth) to compete in a final round on Sunday. The final round would decide which three of the six Regional Finalists would move on to the National Finals.

UConn competed against the schools in the Regional Finals, presenting analyses of current macroeconomic conditions and monetary policy recommendations and fielding questions from Boston Federal Reserve economists. The UConn team was outstanding, and by the end of the day had made it to the National Finals along with two other teams.

The three New England Universities to move on are Yale, Harvard and UConn.

Congratulations to our student team members for all of their hard work and accomplishments!

The students are:

Viren Chainani (presenter)
Spencer Thompson (presenter)
Claire Dobbins (presenter)
Rai Kumar (presenter)
Katrina Melnik (presenter)
Nameeda Elmi
William Infante
Lilla Korniss
Evelyn Zhou
John Mclean

The faculty advisors are Derek Johnson and Owen Svalestad.

UConn Stamford and the Economics Department Senior Citizen Tutoring

Posted on October 3, 2024 by McConnel, Mark

David Ennis, a senior citizen from Stamford, CT, began his journey at UConn Stamford as an audit student in Women and Minorities in the Labor Market, taught by Professor Ritter in Fall 2023. In the Spring of 2024, he continued his studies with Economic Behavior and Health Policy and Development Economics, also under Professor Ritter. These intermediate-level courses combine economic theory with empirical analysis to address key policy-relevant topics.

Professor Ritter welcomed David’s active participation in class, providing him with feedback by grading his assignmnts and exams, even though he was not enrolled for credit. She also integrated him into group work and extended an invitation for him to give a guest lecture in one of her classes.

“David was an excellent student—very active in class and always eager to help his peers. His extensive experience as a long-time consultant in the healthcare sector, along with his general expertise in the labor market, brought a unique and valuable perspective to the classroom. His contributions ranged from insights into general workplace culture to specific topics related to the U.S. healthcare sector. After reading an interesting article he wrote on the Cost and Market Power in the US Healthcare System, which fit perfectly with the focus of my health class, I invited him to give a guest lecture on the subject,” commented Professor Ritter.

“I have to admit, I was also very proud of my younger students for how seamlessly they integrated David into the class and their working groups. They were respectful and welcoming, which reflects the fact that our students are accustomed to being part of a diverse community. At UConn, we actively promote an inclusive environment,” added Professor Ritter.

But David’s involvement with UConn did not stop there. He is now tutoring students for Professor Ritter’s course Women and Minorities in the Labor Market and for students in introductory Economics courses.

“This is a triple-win situation! Students benefit from David’s help, who has already taken the course, was a top student and has a lot of patience. David benefits from continuous interaction with young people, an academic environment, and keeps learning and challenging his knowledge about topics that are interesting to him. And I benefit from having an extra hand to help students that are struggling with the course.” commented Professor Ritter.

“I have really enjoyed learning new things and working with these younger students to improve their understanding of economic concepts. I am grateful to UConn Stamford for affording me this opportunity”, commented David.

None of this would have been possible, however, without the rapid response, flexible approach, and willingness of the Stamford Campus Dean’s Office to integrate the University with the local community.

“We had to find a way to make this happen. David has now joined the Tutoring Center at our campus and students are already reaching out. He’s able to offer his expertise both from his student perspective but also having had a successful career himself.” commented Dr. Laura Tropp, Director of Academic Affairs.

This semester, David is also auditing Public Economics with Professor Smirnova, and his future plans include tutoring Professor Ritter’s course Economic Behavior and Health Policy in the Spring semester and continuing tutoring for introductory Economics courses.

The University of Connecticut offers senior citizens who do not seek degree credit the opportunity to audit undergraduate courses. This opportunity is available to any resident of Connecticut who is 62 or older. Moreover, David’s successful integration as a tutor underscores UConn Stamford’s commitment to enhancing its community outreach. David, Professor Ritter, and the Dean’s Office hope this experience will inspire other professors and senior citizens to explore similar collaborations.

Karen Lau ’25 Featured on UConn Today

Posted on September 18, 2024 by McConnel, Mark

As part of her University Scholar project, Karen Lau ’25, who is triple majoring in economics, history, and Asian American studies (individualized), spent the summer going through archives at NYU’s Tamiment Library and interviewing women involved in the 1982 International Ladies’ Garment Workers’ Union (ILGWU) strike in Manhattan. For the economics part of her project, with the guidance of Professor Delia Furtado, she will use Current Population Survey (CPS) data and state-of-the-art empirical techniques to estimate the causal impacts of the strike on labor market outcomes of New York City garment workers.

When asked if she had advice for other economics majors considering applying for the University Scholar program, she responded,

“While applying for University Scholar, I had no experience with STATA or any knowledge of which data sources to use, but I had ideas, and I knew which faculty members whose research I found interesting that I could ask for support. Meet with faculty members in different departments to share your ideas. Their feedback and experience will help you distill your ideas, which may be too broad or too ambitious, into a specific, understudied topic to which your research could contribute original findings. Professor Furtado motivated me to take Econometrics II, learn unfamiliar techniques, and develop a mixed-methods approach, allowing my data analysis and regressions to corroborate my qualitative research. Don’t be intimidated by the “Q” in Econometrics I and II! Learning to use STATA can be challenging at first, but taking these courses will help you develop quantitative skills that can serve you beyond college and help you contribute to the literature on a topic you are passionate about. In Econometrics II, I learned about difference-in-differences regression, a method I am using to analyze how a labor shock impacted workers’ wages. The more comfortable I felt using STATA, the more confident I felt carrying out a thesis project with techniques drawn from economics. The University Scholar program is looking for interdisciplinary-minded students who are not necessarily the most experienced researchers, but who are most willing to challenge themselves to build new skills and bring multiple fields into conversation.”

PhD Students Present Research on Gender and Race at Workshop

Posted on July 11, 2024 by McConnel, Mark

Two graduate students in the UConn Department of Economics presented their research at the New England Experimentalist Workshop last week.

Anastassiya Karaban presented her paper, “The role of gender comparisons in determining reference wage and labor supply.” She finds that when people make different wages, we choose to compare our wage to others of the same gender. Women work harder when making more than other women (but not when making more than other men). Men work less hard if they are making less than another man (but not if they are making less than a woman).

Victor Volkman presented his paper, “Race and experimental design: How respondents may read context into a neutrally framed scenario.” Traditionally, economics experiments have participants engage in “context free” simulated economic transactions. Victor examines whether such absence of context can affect individuals differently based on their racial backgrounds. He finds evidence that different racial groups interpret context-free scenarios differently, and thus their actions are not directly comparable.

The presentations offered the students both broader exposure for their research and a chance to receive valuable feedback from researchers at other universities.

Two Stamford Students Present at Frontiers 2024

Posted on April 30, 2024 by McConnel, Mark

(left to right) Mitchell Velasco (’25), Dr. Smirnova, Matthew Dalzell (’25) at the Frontiers of Undergraduate Research Exhibition, Stamford campus, April 16, 2024

The Welcome Center area at the Stamford campus was crowded on April 16th as the Frontiers of Undergraduate Research 2024 exhibition was about to start. Thirteen undergraduate students from the Stamford campus presented their research on various topics within diverse fields of study.

Among the presenters, there were two students of Professor Smirnova, Matthew Dalzell and Mitchell Velasco. Both started their research in the ECON 3431W – Public Economics course. However, their interest in the topic grew and they continued working on their papers.

Matthew Dalzell’s (‘25) paper entitled “The Impact of Privately Owned Buses on Carbon Dioxide Emissions in Connecticut” written in Spring 2023 was presented at the New York State Economics Association (NYSEA) conference 2023 in October. Matthew’s trip to the conference was sponsored by the Office of Undergraduate Research, for which Matthew is grateful. Matthew acknowledged in his speech the benefits of attending a conference outside UConn. He said that such exposure allowed him to see what students at other universities are doing in terms of research, “rub elbows” with professional economists and distinguished faculty, and gain confidence for his studies and future career aspirations.

Mitchell Velasco’s (‘25) paper entitled “Decarbonization of the US Power Grid and Cost Competitiveness of Renewable Energy Technology” was written in Fall 2023. The Frontiers’ presentation was the first outside-of-the-classroom presentation for Mitchell. Dr. Smirnova encourages Mitchell to continue improving his paper and to submit it to the undergraduate panel at the Eastern Economic Association, the annual conference of which is scheduled for February 2025 in New York City.

The Frontiers event showcased the dedication of the Stamford faculty to undergraduate students’ success and to students’ preparation for careers after graduation.

Women in Economics Symposium at Stamford

Posted on April 5, 2024April 5, 2024 by McConnel, Mark

UConn-Stamford students at the Women in Economics Symposium Watch Party, April 4, 2024

UConn-Stamford was an official Watch Party for the Women in Economics Symposium 2024. The Symposium’s goal is to showcase the role of women in Economics profession and inspire students to pursue majors and careers in Economics.

This year, the agenda included interesting conversations about careers with BA and MA degrees, about getting the first job, and the keynote address by the newest Governor of the Federal Reserve Board, Adriana Kugler.

Stamford students enjoyed the discussion about economics’ role in their career preparation, interactive activities provided by the organizers, togetherness, and camaraderie. And, of course, pizza and cookies provided by the Honors Program.

Jonathan was on hand to provide additional spiritual support!

Fostering Teaching Excellence: Key Takeaways from the 2024 Spring GA Training Seminar

Posted on April 2, 2024 by McConnel, Mark

The Department of Economics recently held the 2024 Spring GA Training Seminar in Herbst (formerly Oak) Room 337 on March 29, 2024. This seminar provided a crucial platform for student instructors to develop teaching skills and foster discussions on effective teaching methods. Professor Richard Langlois, Professor Olivier Morand, and Professor Tianxu Chen, shared invaluable insights with first-time student instructors in the meeting.

The seminar started with Professor Morand’s presentation, focusing on the pedagogy of teaching quantitative content. Through interactive discussions, he emphasized the importance of learning styles and clarity in teaching.

Professor Langlois primarily discussed tips for teaching writing-intensive courses (W class), drawing upon his extensive experience in the field. He shared strategies for effectively engaging students in such courses.

Lastly, Professor Chen addressed the challenges encountered by student instructors in their teaching roles. She offered insights into fostering attendance, promoting student interaction, and managing email communications adeptly.

The seminar concluded with an open discussion, providing participants with the opportunity to exchange experiences, address challenges, and seek guidance from peers and faculty mentors. Through collaborative exchanges, attendees garnered inspiration, valuable insights, and peer support to refine and elevate their teaching practices. This seminar was coordinated by Professor Chen, and it is part of ECON 6492: Teaching Economics—a recently developed course tailored for first-time student instructors.

Stamford Students meet Chairman Powell at the Federal Reserve Board

Posted on February 13, 2024February 15, 2024 by McConnel, Mark

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!

UConn Stamford Team Competes in the 2023 College Fed Challenge

Posted on December 11, 2023December 11, 2023 by McConnel, Mark

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.