Faculty

Economics Alumna Visits Money and Banking Class

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Professor Smirnova and Viviana Castillo at Money and Banking Class
Viviana Castillo, CLAS ’20, (right) with Dr. Smirnova after the class visit in Stamford, 2/14/2023

Stamford students in ECON 2411 “Money and Banking” class taught by Dr. Smirnova were treated to a special guest visit on February 14, 2023. UConn Stamford Economics alumna, Viviana Castillo, CLAS ’20, who is Principal Finance Analyst at GlobalFoundries shared her wisdom about building knowledge base and career-relevant skills while in college, about finding a job upon graduation, about graduate school, and about current job market in the intersection of economics, finance, and tech.

While at UConn Stamford, Viviana worked in the banking industry, but she managed her time well, which allowed her to participate in the College Fed Challenge competition in 2019 as Stamford team member. She graduated in the midst of the pandemic in the Spring 2020, but did not slow down and entered graduate school at Columbia University. She continued working in the banking industry, gaining experience. After graduating with a Masters in Risk Management degree, she moved to a more interesting job in FinTech.

Viviana Castillo shared with students her approach to gaining new skills in order to prepare for demands of ever-evolving job market. She encouraged students to become career ready. In addition to content knowledge in their academic fields, students need to develop career competencies that are in high demand in the workplace, such as critical thinking, communication, and professionalism.

Students asked a lot of questions, shared their anxieties, and were grateful for Viviana’s effort to meet with them. Business leaders’ and young alumni’s visits to ongoing classes are an exciting way to connect our students to the world outside the academy and prepare them for careers upon graduation.

Women in Economics Symposium

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Women in Economics Group Photo at Stamford
Stamford students with Dr. Ritter at the start of the Women in Economics Symposium on February 23, 2023

On February 23, 2023, the Federal Reserve Bank of St. Louis hosted the annual Women in Economics Symposium. This year the theme was “Role Models Matter”. The agenda included notable women-economists, who shared their love of economics, their research, and their wisdom about how to build and navigate a career path in economics.

The symposium was held in a hybrid format, in which the in-person conference in St. Louis was combined with Watch Parties across the country. Professor Natalia Smirnova arranged for the Economics Department to hold two Watch Parties, in Storrs and in Stamford.

In Stamford, the symposium was designated as the Honors Program event, and they provided pizza and other snacks. Honors Program Assistant Director, Ms. Heenehan, helped with all the logistics during the preparation stage. Economics Professor, Dr. Patricia Ritter hosted the event. Nearly 20 students from political science, economics, and business attended the symposium. We thank Political Science Professor, Dr. Ginsberg for promoting the conference in her classes.

In Storrs, the organization of the Watch Party was done by Women and Minorities in Economics Club. This Club’s activities include speaker series and various events focusing on promoting fruitful discussion about women and minorities’ issues among Economics majors.

At the 2023 Women in Economics Symposium, students heard from exciting role models with fascinating careers in economics while also learning some practical tips about job searching, finding a mentor, and more. As we aspire to develop in our students the career readiness competencies, an exposure to national leaders in economics profession allows students to navigate career opportunities, network to build relationships, and clearly and effectively exchange information and perspectives with persons inside and outside of their home campus. These skills are transferable to students’ post-graduation career and will help them showcase their professionalism during job search and interview processes.

 

Economic Inquiry Recognizes Research of Prof. Couch as Best Article Published in 2022

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The article, “The Evolving Impacts of COVID-19 on Gender Inequality in the U.S. Labor Market:  The COVID Motherhood Penalty” co-authored by UConn Economics Professor Kenneth Couch, Robert Fairlie (Cal-Santa Cruz) and Huanan Xu (Indiana University South Bend) was selected as the Best Article published in Economic Inquiry in 2022.

The announcement and a link to download the paper can be found here: https://weai.org/news/view/51

Professor Smirnova is the first Faculty Fellow at the Center for Career Development

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Natalia SmirnovaThe Center for Career Development announced its first Faculty Fellow – Dr. Natalia Smirnova. As the Career Center continues to move toward its vision of ‘creating a university-wide career readiness culture that prepares all students for post-graduation success’, they have been extending their reach to partnering with faculty and staff more intentionally over the past several years.

Dr. Smirnova’s work on career readiness is closely aligned with the mission of the Center for Career Development and its Career Champions program. Professor Smirnova in her courses encourages students to build skills that are transferable to the workplace. With her co-authors, she developed an instructional module where students learn about their major and career path by using publicly available large data set. At the Stamford campus, she collaborates with various departments to arrange career panels, builds a network of business community leaders to mentor her students, and encourages students’ participation in various national economics competitions and conferences.

As the inaugural Career Faculty Fellow, Dr. Smirnova will be developing materials related to integration of career competencies into syllabi, serving as an ambassador to academic departments and faculty, and creating a sustainable program of faculty fellowship.

Professor Harmon publishes article on Schedule Inequity in the NBA in Journal of Sports Analytics

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Professor Oskar Harmon with Alan Bowman (Clarkson University) and Thomas Ashman (Eckerd College) published the article “Schedule Inequity in the National Basketball Association” in the Journal of Sports Analytics.

Journal of Sports Analytics

Scheduling factors such as a visiting team playing a game back-to-back against a rested home team can affect the win probability of the teams for that game and potentially affect teams unevenly throughout the season. This study examines schedule inequity in the National Basketball Association (NBA) for the seasons 2000–01 through 2018–19. By schedule inequity, we mean the effect of a comprehensive set of schedule factors, other than opponents, on team success and how much these effects differ across teams. We use a logistic regression model and Monte Carlo simulations to identify schedule factor variables that influence the probability of the home team winning in each game (the teams playing are control variables) and construct schedule inequity measures. We evaluate these measures for each NBA season, trends in the measures over time, and the potential effectiveness of broad prescriptive approaches to reduce schedule inequity. We find that, although schedule equity has improved over time, schedule differences disproportionately affect team success measures. Moreover, we find that balancing the frequency of schedule variables across teams is a more effective method of mitigating schedule inequity than reducing the total frequency, although combining both methods is the most effective strategy.

Link to article.

First Graduate Assistant Orientation in the Department of Economics

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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

Paper on Racial Profiling in Police Stops published in the Journal of Human Resources

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Professor Steve Ross and UConn Ph.D. Graduates Jesse Kalinowski (Quinnipiac) and Matt Ross (Northeastern) recently published a paper in the Journal of Human Resources examining tests for racial profiling in police stops, showing that minority responses to perceived discrimination in stops (driving more slowly and safely) can substantially bias these tests away from finding discrimination.

The paper may be found online at:

http://jhr.uwpress.org/content/early/2023/01/05/jhr.0822-12513R1.abstract

Professor Hallwood and the Scotland Act

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Professor Paul Hallwood’s work has been seen to have influenced the Constitutional settlement for Scotland – i.e. the Scotland Act of 2016.

“Have the wheels come off the plan to make Scotland a global player?” The Herald, 7th April 2012

“One paper, an eighth lecture – the [Allender] series was extended after the first seven – was delivered by the Scottish economist Ronald MacDonald and the American Paul Hallwood, and became the subject of intensive political scrutiny. They argued that greater fiscal autonomy for the Scottish Parliament might encourage better economic decision making”.

The Scotland Act of 2016 indeed incorporates many of their ideas for greater tax raising powers being devolved to the Scottish Parliament.

The Scottish Parliament’ s new powers are being delivered by the Scotland Act 2016 [1] :

  • Scotland has new powers as part of a secure UK.
  • The Scotland Act 2016 delivers the UK Government’ s commitment to the people of Scotland.
  • It brings a better balance to Scotland’ s devolution settlement.
  • The new powers give the Scottish Parliament much greater tax raising powers.
  • In future, Holyrood will be responsible for raising more than 50% of what it spends – making it one of the most powerful devolved parliaments in the world.
  • The Scottish Parliament will set the income tax rates and thresholds for earned income in Scotland.
  • This represents annual income tax revenues of around £11 billion.
  • The Scottish Parliament will retain around 95% of the income tax collected here.
  • The Scotland Act gives the Scottish Parliament the power to make decisions on important areas of daily life in Scotland

Posted by the Scottish Office: GetInOnTheAct

Hallwood, P and R MacDonald (2009) The Political Economy of Financing Scottish Government, Studies in Fiscal Federalism and State-local Finance, Edward Elgar, Cheltenham.

Hallwood P and R MacDonald (2006), “A Restatement of the Case for Scottish Fiscal Autonomy”, Quarterly Economic Commentary, Fraser of Allender Institute, 31, 49-53.

MacDonald R and P Hallwood (2006), “The Economic Case for Fiscal Autonomy with or without Independence”, The Policy Institute, Edinburgh.

 

[1] Scotland_Act_tax_factsheet.pdf (publishing.service.gov.uk)

Stamford Economics Alum Visits Economics Classes

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Kyle Richter (CLAS’21) (left) and Dr. Smirnova in Financial Economics class on December 6, 2022

Kyle Richter graduated from UConn-Stamford in December 2021 and is currently an Investment Banking Associate at Capital Research Partners & Co., a boutique investment bank in Norwalk, CT that specializes in restructuring, capital raising, and mergers & acquisitions. The Center for Career Development at Stamford and Dr. Smirnova worked together to arrange Kyle’s visit to ECON 3413 — Financial Economics class on December 6, 2022.

The class started with students’ presentations of financial analysis reports that they completed during the semester. The assignment was to select a publicly traded company, obtain a series of financial reports, analyze financials statements and ratios, and apply one of the methods of stock valuation that were covered in the course. Students wrote a short report justifying their “buy/sell” recommendation and were defending their findings via oral presentation. Kyle was able to assess students’ work and ask clarifying questions.

Kyle took Financial Economics in the Spring of 2021 and was happy to share with students how he uses what he learned in this class every day at work. He talked about uses of financial statements, benchmarking, and trend analyses for valuation of companies and M&A deals. He explained the differences in structure and culture between small firms and large corporations.

Students engaged in a productive discussion with Kyle. They asked questions pertaining to job search after graduation and about careers in finance. Kyle shared his story of job search and his ambitions for the future. He suggested using this class’s report as a showcase of financial industry skills during the interview process at any financial firm. Understanding of nasic financial concepts, concise writing, and presentation skills are essential for getting a job in finance.

After the Financial Economics class, Kyle Richter met with students in ECON 3492 – Practicum class. This is a special course where Stamford team participates in national competitions. Here, the discussion with students focused on careers, career competencies, and networking. Kyle offered his help in giving feedback on students’ resumes and in mentoring students as they navigate job search and connections with professional networks.

Overall, the visit was very productive and interesting. We thank Kyle Richter for coming to our campus, mentoring our students, and engaging with the University.