Alexander Vaninsky publishes in Environment Systems and Decisions

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Professor Alexander Vaninsky, a long-time economics instructor at the Stamford Campus, recently published the article “Multiobjective restructuring aimed at green economic growth” in Environment Systems and Decisions (February 2021) https://rdcu.be/ch3UZ

ABSTRACT

This research introduces an approach to the structural optimization of national economies resulting in green economic growth.  This study considers the comparative advantages of the sectors of the economy in the final product ratio, energy intensity, and carbonization of the gross output. The input–output model is transformed to a structured form, and the projected gradient of the gross domestic product (GDP) is derived. Factorial models of energy consumption and carbon dioxide (CO2) emissions are developed and used to obtain the projected antigradients of these indicators. Each of these vectors determine the locally

optimal structural change for each dimension. Their components are found to be proportional to the sectoral deviations from the national average, thus revealing a sectorwise comparative advantage or disadvantage. This observation allowed us to characterize these components as Ricardian gradients. Although it is not possible to move in each of the three vectors concurrently, it is possible to direct the economic restructuring to make the least possible acute angles with each vector.  Thus, the locally Pareto-optimal vector of structural change is formed. At each moment in time, the system is directed to move alongside this vector or by the boundary. The suggested approach is applied to simulate the economies of China and the United States. The obtained results reveal that the suggested changes in the structure of the gross output simultaneously allowed for an increase in GDP, a decrease in energy consumption, and the mitigation of CO2 emissions. Applications to international cooperation and trade are discussed.

 

MSQE Website Launches New Look

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The MSQE program website has a new look:

msqe.econ.uconn.edu

The updates include a description the recently developed 4+1 option for UConn undergraduates, and the option for the Certified Business Economist credential of the National Association of Business Economists (NABE).

The program will be advertised on LinkedIn beginning this week:

 

 

MSQE Alumni Panel

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Two alumni of the MSQE Program participated in a virtual MSQE Alumni Networking Panel on March 18th:

Louis Booth: MSQE Dec 2018

John Rolfe:  MSQE Dec 2019

Louis currently works at Travelers, as a Consultant Analytics and Research Development, where he is on the  Advanced Tools and Technologies Team.  John  currently works at Spreetail as a Demand Planner where he does demand forecasting.

They spoke highly of their MSQE training in Python, R, and Tableau, and gave several examples of how they use these skills in their current positions.

The panel was moderated by Professor Harmon.

Diverse Journeys: Social Sciences Alumni Career Panel

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On Thursday, February 25th, 2021, UConn Stamford students were treated to a special discussion “Diverse Journeys: Social Sciences Alumni Career Panel” featuring UConn Stamford alumni of color who majored in social sciences and now work in a variety of interesting and diverse careers.

The panelists were:

Daniel Caceres ’14 (CLAS), Real Estate Agent, YB Realty.

Saif Syed ’16 (CLAS), Investment Banking Associate, Goldman Sachs.

Destini Pereira ’19 (CLAS), Associate Project Manager, Lockwood.

Andrea Lopez ’14 (CLAS), Research Associate, Teachers College, Columbia University.

The participants shared candid insights and perspectives about job search and navigating the workplace as a person of color. Panelists also provided perspectives on how their educational experiences at UConn Stamford shaped their career journeys and put them on the path to success.

This event was organized by UConn Stamford — Department of Economics, Department of Political Science, the Center for Career Development, and the Honors Program in partnership with the UConn Foundation.

The recording of the event can be watched using this link.

Professor Prakash receives CLAS Summer Funding

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Professor Nishith Prakash (Economics) and Professor Kim Chaney (Psychological Sciences) have received CLAS Summer Funding for their project entitled “Proposal: Can “Guilt” Change Police Attitude towards Gender-Based Violence?” with co-PIs Sofia Amaral (ifo Institute), Girija Borker (World Bank), and Asmi Khushi (IFMR).

The project aims to implement a field experiment with 500-700 police officers in India using confrontation of mis-handled gender-based violence (GBV) cases as an intervention to evoke guilt, and in turn promote more positive future responses to GBV crime. It ties together insights and expertise in causal inference and field experiments from development economics, with the study of countering discrimination and prejudice from social psychology.

Professor Lanza’s 2021 Forecast for the Connecticut Economy Featured in HBJ

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Professor Lanza’s 2021 forecast for the Connecticut economy was featured in the December 28, 2020 issue of the Hartford Business Journal.

Lanza predicts a year of moderate recovery as vaccines roll out and the state gets back to work.

The complete forecast may be found online at:

https://www.hartfordbusiness.com/article/hbjs-2021-economic-forecast

Econ PhD Alumnus is Chief Economist for Macro Policy at the CEA

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Aaron Cooke, a 2018 PhD graduate of the UConn Department of Economics, recently became the Chief Economist for Macroeconomic Policy at the Council of Economic Advisers (CEA).

The CEA, an agency within the Executive Office of the President, is charged with offering the President objective economic advice on the formulation of both domestic and international economic policy.

Aaron earned his PhD degree from the Department of Economics in 2018, specializing in macroeconomics and public policy. His PhD dissertation, “Three Essays on Wealth and Income Inequality”, studied the causes of U.S. wealth and income inequality, and was completed under the supervision of Professor Kai Zhao.

Prior to joining the CEA, Aaron was an economist at the Office of Management and Budget.

Wei Zheng’s research on the Child Tax Credit featured by Niskanen Center

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PhD candidate Wei Zheng’s job market paper “Child Tax Credit and Maternal Labor Supply” has been featured in a post by the Niskanen Center:

New research finds the Child Tax Credit promotes work

From the post:

“The work incentive created by the Earned Income Tax Credit has been the subject of extensive study for decades now, with generally positive results. The pro-work potential of the Child Tax Credit (CTC), in contrast, has been relatively ignored.

A new job market paper from Wei Zheng, a PhD candidate at the University of Connecticut, attempts to fill this gap in the literature. Using event study and simulation techniques, Zheng provides new and detailed estimates of the effect of the Child Tax Credit on maternal labor supply. The headline finding: a $1000 increase in the average CTC is associated with a 1.1 percentage point increase in labor force participation for single mothers.”

More information about Wei Zheng and her research may be found online at https://weizhengecon.wixsite.com/website

Stamford Team Competes in the College Fed Challenge 2020

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This year, the College Fed Challenge competition was virtual. It was a challenging transition to understand the intricacies of new rules and regulations and to pivot in September to be ready by October 9. But the UConn-Stamford team was well-organized, enthusiastic, and well-prepared to put forward the arguments that the current economic situation warrants keeping the target federal funds rate unchanged.

The 2020 team consisted of five Stamford students: Cullen Murphy (ACES, sophomore), You Kim (Financial Management and Economics, senior), Shayla Siljkovic (Linguistics and Philosophy, sophomore), Eileen Zhu (Economics, junior), and Rashana Weerasinghe (Business Data Analytics, sophomore). They worked virtually; very diligently, creatively, and collaboratively. They describe the challenges of this new environment as the loss of a camaraderie of in-person interactions, technical difficulties, and physical isolation. However, the presentation that they put forward combines the intellectual rigor of each member, deep research of economic indicators, and a collective vision of what the forecast of current economic conditions looks like.

You can watch their presentation here.

Our team did not make the next round of the competition this year, which is, of course, disappointing. However, the learning that has occurred was a worthwhile experience. First, each student has developed an expertise in a selected economic indicator or industry: each team member researched, constructed graphs, and made connections with overall economic development as well as with monetary policy implications. Furthermore, students gained highly valuable skills such as critical thinking and teamwork. These are the skills that are transferable to other professional environments such as a graduate school or a workplace.

You can read the students’ reflections here:

Cullen Murphy – Stamford Fed Challenge 2020

You Kim – Stamford Fed Challenge 2020

Shayla Siljkovic – Stamford Fed Challenge 2020

Rashana Weerasinghe – Stamford Fed Challenge 2020

Eileen Zhu – Stamford Fed Challenge 2020

The course that will be used to prepare a team for the next year’s competition is ECON 3492 – Practicum. It is offered every semester. Stamford students who are interested in joining the team should contact Dr. Smirnova. The student’s major does not matter – all majors are welcome! What matters is the desire to learn about the economy and monetary policy, and to be open-minded to work well in a team.

 

Stamford Campus Hosts Women Alumnae

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Students at Stamford campus were treated to an amazing event on November 12, 2020. A virtual panel discussion featuring UConn Stamford alumnae who majored in social sciences (COMM, ECON, HDFS and POLS) called “Breaking the Mold: Women in Social Sciences” attracted almost 100 students.

A recording of the event may be found online at:

https://www.youtube.com/watch?v=iQK8qMAPrXs&feature=youtu.be

The five UConn Stamford alumnae who were featured work in a variety of interesting and diverse careers. These women created their own paths, in unconventional ways, in areas where women are often underrepresented. During the event, they provided insights into how their educational experiences at UConn shaped their career journeys and put them on the path to success!

Panelists:

  • Harriet Munrett Wolfe (’76 CLAS) is the Executive Vice President, General Counsel and Corporate Secretary for Webster Bank and Webster Financial Corporate. She has a bachelor’s degree in political science from UConn and a J.D. from Pepperdine University School of Law.
  • Maureen Hanley (’92 CLAS) is the Senior Vice President of The First Bank of Greenwich. Maureen has a bachelor’s degree in political science from UConn.
  • Anne McAuley Lopez (’96 CLAS) is the lead writer and owner of McAuley Freelance Writing. She has a bachelor’s degree in economics from UConn.
  • Katherine Velez (’10 CLAS) is a Research Coordinator at Columbia University Medical Center. She has a bachelor’s degree from UConn in Human Development and Family Studies and an MSW from Fordham University.
  • Brianna Walston (’17 CLAS) is the Founder of Brianna Regine Visionary Consulting, LLC. She has a bachelor’s degree in communications from UConn.

Students learned how one’s career evolves post-graduation, how to find a mentor, and how to navigate the job search environment during the pandemic. During the Q&A, students asked questions about challenges that women face in the workplace and how to leverage one’s education and mentorship relationships for the successful steering of a career.

Overall, the panelists offered many positive and constructive suggestions, helping students keep faith in themselves even during the uncertain times of a pandemic.

This program was hosted by UConn Stamford: Political Science and Economics Departments, the Center for Career Development, and the Honors Program in partnership with the UConn Foundation.

By Natalia V. Smirnova