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First Graduate Assistant Orientation in the Department of Economics

The Department of Economics successfully held its first Graduate Assistant (GA) Orientation on January 16, 2023. The GA Orientation was coordinated and led by Professor Tianxu Chen. The event has been designed to support our GAs/TAs and student Instructors by providing them with strategies and tools to successfully start and manage their teaching responsibilities. It also aims to help promote their professional development in teaching.

The orientation invited David Des Armier from the Center for Excellence in Teaching and Learning (CETL) to share information about how to design a HuskyCT course webpage, as well as to familiarize GAs with University policies and CETL resources. During the orientation, Professor Talia Bar, Professor Tianxu Chen, Professor Mike Shor and Professor David Simon also shared their teaching experience with the GAs, and provided advice on a wide range of topics including lecture preparation, academic integrity, class engagement, and ensuring an accessible environment for students with disabilities.

The GA orientation had a great turnout. Over a dozen of PhD students from different cohorts attended the event, and we expect it to be held regularly in the future.

GA OrientationGA Orientation

Economics Major Nidhi Nair is UConn’s First Schwarzman Scholar

Nidhi Jayakumar Nair in Oak Hall
Nidhi Nair in Oak Hall (Sydney Herdle/UConn Photo)

Economics undergraduate student Nidhi Nair has been featured in UConn Today as the university's first-ever recipient of the prestigious Schwarzman Scholar award.

Nair is an honors student double-majoring in economics and mathematics-statistics and was selected from more than 3,000 applicants to join a cohort of 150 other Schwarzman scholars from around the world in Beijing to complete a one-year master's degree. Recipients of this award are selected on the basis of leadership abilities and potential to bridge political and cultural differences.

Nidhi Nair founded last year's Invisible Hand Economics seminar series and is the president of the UConn Economics Society, as well as being involved in the Women and Minorities in Economics organization here at UConn. Nair has worked on multiple economics research projects here at UConn, and has completed several research and advocacy focused internships at different organizations.

Nair noted the support of her Honors advisor, Economics Professor Richard Langlois in her interview for UConn Today: "Dr. Langlois has also been a source of support and has provided invaluable advice on carving out a strong career in economics that advances my interests in socioeconomic mobility and microeconomic analysis."

Read the full article online: Nidhi Nair '23 Named UConn's First Schwarzman Scholar

Two Competitions for the Stamford Fed Challenge and FDIC Academic Challenge Team

UConn -Stamford Team 2022.
From left to right back row: Anthony Santiago, Neel Talati, Jonathan Portanova, Robert Martin, James McQuade. From left to right front row: Alyssa Pelletier, Briana Hardy

This Fall, Stamford students enrolled in ECON 3492 “Practicum” participated not in one, but in two national competitions: College Fed Challenge and FDIC Academic Challenge.

Dr. Natalia Smirnova, Stamford “Practicum” instructor, argues that each competition is unique and encourages students to develop different skills that are valuable to their future career. This year, she added FDIC Academic Challenge as a complementary activity to the existing “Practicum” structure. The timing works perfectly: Fed Challenge is heavy at the beginning of the semester (submission in October), FDIC Challenge starts in November. The skills that students learn are complementary: the Fed Challenge focuses on the oral presentation skills and macroeconomic knowledge; the FDIC Challenge focuses on the writing skills (students write an analytical report) and microeconomic analysis. Both competitions have learning goals of data literacy, analytical, research skills, teamwork, and economic analysis.

The Stamford 2022 team consisted of seven students.

Alyssa Pelletier (Team Leader) is a Junior majoring in Financial Management at UConn. This is her second semester on the College Fed Challenge team. Her interests include finance and data analytics, utilizing demonstrated collaboration, organization, and problem-solving skills. In her free time, she enjoys dancing and beach trips. Through this competition, Alyssa learned how to analyze economic / financial conditions, to formulate monetary policy recommendations. She developed a better understanding of how different sectors / industries contribute to the decisions of the Fed. Alyssa selected the Technology sector, as she was interested in researching how technology is reshaping productivity and employment opportunities. She focused on digital transformation, and how the nature of work is changing as a result of technological advances. In this course, Alyssa had the opportunity to gain insight into an industry of interest, while developing career-valued skills like leadership, critical thinking, and teamwork. Here is the link to Alyssa’s reflection at the end of the course.

Briana Hardy is a second semester Junior majoring in economics and minoring in psychology at UConn Stamford. Growing up in Stamford, she planned on transferring to Storrs for her junior year. However, as for many other people, the pandemic disrupted her plans and she decided to take a gap year. During that gap year she worked full time to help her family who were directly impacted by the recession of the pandemic. During that gap year she worked for a local community bank as a teller and then was given the opportunity to learn the beginning processes of credit risk management as a paid intern. This caused her to become more interested in economics and banking. During her gap year she also worked at a grocery store and was able to see firsthand how the pandemic disrupted many sectors of the local economy and supply chain as well. During her free time Briana is learning to speak Spanish, she enjoys investing in the stock market, and she loves to travel. After she completes her undergraduate degree, she plans on working in the banking industry. After obtaining some work experience, she wants to go back to school to obtain a graduate degree. For the College Fed Challenge, Briana decided to look further into the supply chain because of her firsthand experience in seeing how incidences outside of the financial world are, in fact, interconnected in our economy. Here is the link to Briana’s reflection at the end of the course.

Robert Martin is a current second semester Senior at UConn Stamford majoring in General Studies with a focus in Economics. He transferred to UConn his Junior year after attending Saint Joseph’s University where he majored in Business Intelligence and Analytics. He opted to switch to General studies at UConn to learn a wide variety of courses including economics, psychology, and communications to help him more in the wine industry. During his free time Robert enjoys golfing, going to the gym, and trying out new restaurants. After he completes his undergraduate in December 2022, he plans on working in the wine industry to continue to grow his wine knowledge. Throughout this challenge Robert selected the housing sector, to get a better understanding how the housing market affected the general economy and showed the growth and trends within the industry. Here is the link to Robert’s reflection at the end of the course.

James McQuade is a Senior at UConn, majoring in Economics. This is his first semester as a Practicum team member and his second semester taking coursework in monetary policy. James is interested in pursuing a career in analytics, most likely in financial services. However, he is open to opportunities in other fields conducting economic or financial analysis, i.e., credit analysis, insurance analysis, healthcare analysis, etc. He completed a summer internship in the Wealth Management department at Raymond James Financial Inc. under the Vice President of Investments in Westport, CT. He has utilized his aptitude for critical thinking as well as his knowledge of economic and financial markets to conduct research regarding the effects of commodity prices on macroeconomic forces including production costs and consumption. As the needs of team changed, he has also conducted research regarding consumer sentiment and its possible implications on the Fed’s policy to maintain price stability. He looks forward to getting more experience in analysis after graduation and hopes to find an opportunity to pursue a Master of Science in Finance or an MBA in the near future. He is also considering work on the Chartered Financial Analyst designation post-graduation. Outside of academics, James has a passion for singing, and spending time with family and friends. Here is the link to James’s reflection at the end of the course.

Jonathan Portanova is a Senior majoring in Political Science and minoring in Economics. His interest is to go into public policy and research developments in the private and public sectors. Being on the Fed College Challenge Team gave Jonathan a great opportunity to do research on the economy and learn new sources of information. Jonathan is also a community leader and has volunteered in his time in the community as members of organizations such as the Knights of Columbus, the Alzheimer Association, and on Campus. Being a part of two Honor Societies Delta Alpha Pi and Phi Theta Kappa, Jonathan enjoys spending time with family and friends, meeting new people, and going out. Here is the link to Jonathan’s reflection at the end of the course.

Anthony Santiago, “Santi” is a UConn Stamford Senior. Santi was originally a member of the class of 2020 but when the COVID-19 pandemic began, he took some time off from school to pursue a career as a plumber. After establishing himself locally in the trade industry, he decided that it was time to reenter the classroom and complete his degree. After leaving his company in January of 2022, he will graduate this December through UConn’s Continuing Studies program with a bachelor’s degree in General Studies, where most of his classes are of a business background. He is planning on trading his work boots for a suit and tie following the completion of his degree and hopes to find a finance opportunity in the NYC area early in 2023. Here is the link to Anthony’s reflection at the end of the course.

Neel Talati is a Senior majoring in Economics at UConn. This is his first semester participating in the College Fed Challenge team. Neel’s interests include stock trading, technical analysis, creating leadership opportunities and analytical thinking. In his free time, Neel likes to travel and go outdoors to play various sports like soccer and basketball. At the beginning of this competition, he has been able to demonstrate knowledge and skills to analyze economic climate forecasts and correlate them to monetary policy. He has been able to collaborate with his peers to help in all sectors of the Fed challenge. Throughout the course, he has been able to gain experience and insight to help prepare for the next semester fed challenge. Here is the link to Neel’s reflection at the end of the course.

Team’s video submission for the College Fed Challenge competition did not advance to the second round. But students kept pushing forward and worked hard on the next challenge. The written report analyzing profitability of banks in Fairfield County was submitted to the FDIC Challenge, and we are awaiting the results of the first round to be available in February.

Each student acknowledged that through the “Practicum” course they developed and refined a lot of career-transferrable skills such as critical thinking, analytical, and presentation skills in addition to teamwork and collaborative competitive spirit.

Dr. Smirnova adds that ECON 3492 “Practicum” supports Goal 3: Teaching, Learning, and Student Success of the CLAS Strategic Plan by enhancing, through experiential learning, opportunities for undergraduate education. It also helps students develop career readiness proficiencies stipulated by the National Association of Colleges and Employers (NACE) and supported by UConn’s Center for Career Development.

Congratulations to all students on the UConn – Stamford Team 2022!

Stamford Student Wins Second Place at the New York State Economic Association Conference

Matthew Gilshteyn (left) and Dr. Smirnova receiving the NYSEA Award, October 8, 2022, SUNY Old Westbury, NY

Matthew Gilshteyn, a student at UConn Stamford, has won second place in the Undergraduate Paper Competition conducted by the New York State Economic Association (NYSEA).

The competition is open to undergraduate students from around the United States and involves two steps. First, the papers are submitted and evaluated by the panel of judges who select 5 best papers to be presented at the annual NYSEA conference. The presentation round constitutes the second step in the competition. The presentations are done in front of the new panel of judges and is open to all members of NYSEA. The papers are ranked based on the scores from both steps. So, the competition is quite rigorous and encompasses many skills: writing, economic analysis, oral presentation, and public defense of one’s research.

Matthew Gilshteyn submitted his paper “How will the Infrastructure Act Impact Nuclear Energy Production Costs?”, which he wrote in ECON 3431W – Public Economics class taught by Dr. Smirnova in the Spring 2022. In his paper he analyzed the cost dynamics of nuclear energy sector and forecasted the impact of expenditures proposed by the Infrastructure Act of 2021 on that industry.

During the summer, Matthew worked with Dr. Smirnova polishing the paper for submission. He was notified about “making the cut” for the second step in September, at which time he continued working diligently on the presentation. On October 8, 2022, Matthew presented his research at the conference, which was help at the campus of SUNY Old Westbury. The room was packed with the attendees, who were industry professionals, faculty of various universities, graduate and undergraduate students, and the panel of five judges. Dr. Smirnova was in attendance as an adviser, mentor, and moral supporter. Matthew was confident; his presentation was engaging, which generated several questions from the audience. He answered all the questions satisfactorily.

The competition results were announced later that day before the Keynote Address by Richard Best from the U.S. Securities and Exchange Commission. Matthew received the second place, for which we are very excited. This was the first time that Matthew submitted and presented his research to the outside organization; he was unfamiliar with the process and nervous about the large professional audience. He demonstrated, however, a mature attitude through the whole selection process and a genuine interest in economics which reflects Dr. Smirnova’s guidance and commitment as teacher and faculty adviser.

Congratulations to Matthew Gilshteyn!

Business Appraiser Shares Methodology in Financial Economics Class

Mr. Becket presents in the Financial Economics class at Stamford on September 15, 2022

Mr. Peter Becket, a proprietor of Becket Business Appraisals, LLC visited the ECON 3413 Financial Economics class at Stamford on September 15, 2022. In this course, students learn company valuation techniques and apply those to a selected publicly traded company.

Mr. Becket has been an appraiser of privately owned businesses for over 40 years. So, his presentation gave students a real-world view of how he goes about valuing businesses that are not publicly traded.

Peter’s very engaging and interactive presentation showed how financial statements analysis and discounted future cash flow methodology are used in evaluating financial prospects of a closely held companies. Students learnt many nuances of appraisal business, which are not covered in the textbook. Peter shared several publications that present data of financial ratios, for example, which could be consulted for a benchmark analysis. He also explained his proprietary methodology for company valuation. Students were able to ask questions about the business and seek Peter’s advice about their career aspirations.

Mr. Becket encouraged students to invest in their learning, join professional associations, and start their careers working for someone else before venturing on their own if they decide to start their own professional practice. His talk connected the textbook material to the real-world appraisal business.

Dr. Smirnova, who is the instructor in this class, and the students are grateful to Mr. Becket for his time and invaluable wisdom, suggestions, and encouragement. The talk was very fun, as well.

Economics at the Major Fair at the Stamford Campus

Photo (left to right): Economics Seniors Miriam Salazar-Rey, James McQuade, and Gerson Jacinto at the Economics Major table on September 15, 2022.

On September 15, 2022, there was a buzz around the Rich Concourse at the Stamford campus. Various academic fields, representing majors and minors offered at UConn Stamford, were showcased. The Economics Department was represented by students majoring in Economics with Professor Smirnova in attendance as well.

The Economics table was one of the most visited through the two-hour period. Economics seniors Miriam Salazar-Rey, James McQuade, and Gerson Jacinto enthusiastically shared information about the academic course of study, about various economics paths within the profession, and about the College Fed Challenge competition, a popular extra-curricular activity at Stamford.

Students also shared various career readiness events that they have attended on campus and competencies that they have developed in Dr. Smirnova’s classes. Business community leaders’ visits, career panels, Career Development Center professionals’ presentations, and other events – all of these, in students’ view, contribute to the satisfaction with the Economics major at Stamford.

Stephen Acquah (MSQE 2023) awarded a National Association of Business Economists Scholarship

Stephen Acquah, a 1st year student in the Masters of Science in Quantitative Economics (MSQE), was named a 2022-23 National Association of Business Economists (NABE) Scholar.

The NABE Scholars program provides scholarships to NABE conferences specifically to minority students and early-career economists to attend NABE conferences and events.  Alex Gu (UConn MSQE 2022) was a 2021 designee of this award.

Stephen is one of 20 selected scholars  and holds a Master of Science in Economics from the University of Verona, Italy, and a Bachelor of Arts in Economics and Mathematics from the University of Cape Coast, Ghana. He aspires to become a future Tech-economics expert and a Certified Business Economist (CBE).

The UConn MSQE Program is a participating partner and students can earn the CBE certification by completing MSQE courses, completing the CBE certification exam, and two years of work experience in applied business economics or in a related field.

Spring 2022 Awards

Uconn sealWhile the department is not able to celebrate with an awards banquet this year, we still are able to recognize the best among undergraduate and graduate students, as well as faculty!

This year’s award recipients are:

Undergraduate Awards

Economics Department General Scholarship

Shuo Han
Samuel Jackson
Tamara Shelley
Grace Smith
Khoa Tran
Yinuo Xiang
Ziyun Zhou

Kathryn A. Cassidy Economics Scholarship

Nidhi Nair
SeSe Nguyen

Rockwood Q. P. Chin Scholarship

Nadine Fernando
Prasad Gosavi
Pin Lyi
Choyang Wang

Louis D. Traurig Scholarship

Adem Aksoy
Allen Cazeau
Jeremy Salyer
Benjamin Scudder

Paul N. Taylor Memorial Prize

Erin McKeehan

Julia & Harold Fenton and Yolanda & Augustine Sineti Scholarship

Shuyi Bian

Charles Triano Scholarship

John Doran
Beatrix Jordan

Dr. Joseph W. McAnneny Jr. Scholarship

Erik Choi
Ryan Durrel
Gregory Elmokian
Kevin Gabree
Prabhas KC
Joshua Waxman
Justin Wu

Albert E. Waugh Scholarship

Annaliesa Wood

Ross Mayer Scholarship

Cole Ensinger
Jordan Leonardi


Graduate Awards

W. Harrison Carter Award

Ruohan Huang
Ziyun Wu

Abraham Ribicoff Graduate Fellowship

Lindsey Buck

Timothy A. and Beverly C. Holt Economics Fellowship

Matthew Brown
Shangyue Jiang
Keuncheol Lee
Kunze Li
Lulin Li
Ghania Shuaib
Sirui Qiu
Zhengxuan Wu

Economics Department General Scholarship

Anastassiya Karaban

Best Third Year Paper Award

Jiaqi Wang

Graduate School Pre-Doctoral Fellowship

Sirui Qiu
Zhengxuan Wu
Heshan Zhang

CLAS Summer Fellowship

Erdal Asker
Matthew Brown
Jingyun Chen
Jinsoon Cho
Zhenhao Gong
Shangyue Jiang
Keuncheol Lee
Lulin Li
Yizhi Zhu


Faculty Awards

Grillo Family Research Award

Delia Furtado
Subhash Ray

Grillo Family Teaching Award

Mike Shor

 

Congratulations to everyone!

Frontiers in Undergraduate Research 2022 at Storrs

Griffin O'Neill PosterGriffin O’Neill, a senior with a double major in Economics and Geography, presented a poster visualizing data on the topic of National Football League (NFL) Attendance and Anthem Protests in 2016.

Using the ArcGIS, software, Griffin plotted a base map representing the Standard Metropolitan Statistical Area (SMSA) of each NFL stadium and the change in home game attendance between the 2015 and 2016 seasons. Then in separate maps he overlaid on the base map the number of player anthem protests for each team, the number of police shootings of unarmed black men in the SMSA of the home team, and voting results in the 2016 Presidential election in the counties comprising the SMSA of the home team.

The poster was part of an independent study project conducted with Prof. Oskar Harmon.

Frontiers in Undergraduate Research 2022 at Stamford

Stamford Frontiers in Undergraduate Research PosterThis year, marking the 25th anniversary of the Frontiers in Undergraduate Research Program at UConn, the Stamford campus had the first inaugural Frontiers event on April 12. The Frontiers program creates a culture of inquiry and engagement and enriches the undergraduate experience of our students.

At Stamford, students’ presentations were in-person and guests from the local community were invited. Twelve Stamford students from various disciplines delivered results of eight diverse research projects they have undertaken during this academic year.

Dr. Smirnova’s student, Matthew Gilshteyn, presented his research entitled “How Will Infrastructure Act Impact Nuclear Energy Production Costs?”, which stems from his work in ECON 3431W – “Public Economics” class. In his paper, Matthew conducted regression analysis on the data from U.S. Department of Energy and Nuclear Energy Institute and using the regression equation estimated the costs of nuclear energy production for 2022 and 2023. Matthew concluded that the Infrastructure Act’s allocation of resources towards alternative energy will decrease the cost of nuclear energy production by 8.2% by 2023. During the Frontiers event, Matthew answered questions from the audience and defended the nuclear energy as the safest energy source compared with other sources.

This year, the “posters” that students developed were in the electronic format and were projected on a big screen at the Welcome Center Atrium at the Stamford campus. Those posters will now be shown till the end of the semester on the monitors in the Concourse rotating among all eight projects.

The inaugural Frontiers event at the Stamford campus showcased the diversity of talent of our students and the continuing effort of the faculty to strengthen the undergraduate research program.

Thank you to the Office of Undergraduate Research and the Honors Program for organizing this beneficial event at the Stamford campus.

Smirnova and Gilshteyn at Frontiers in Undergraduate Research EventPhoto: Dr. Smirnova (left) and Matthew Gilshteyn at the Frontiers in Undergraduate Research event in Stamford, April 12, 2022.