Professors Minkler and Prakash publish in the Journal of Comparative Economics

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Professor Minkler and Professor Prakash’s paper titled “The Role of Constitutions on Poverty: A Cross-National Investigation” has been accepted by the Journal of Comparative Economics. In this paper, they construct and use a new historical data set on economics and social rights from the constitutions of 195 countries and an instrument variable strategy to answer two important questions.

First, do economic and social rights provisions in constitutions reduce poverty, measured as headcount income and health outcomes? Second, does the strength of constitutional language of the economic and social rights matter? Constitutional provisions can be framed either more weakly as directive principles or more strongly as enforceable law.

The results suggest three findings. First, they do not find an association between constitutional rights generally framed and poverty. Second, they do not find an association between economic and social rights framed as directive principles and poverty. Third, they do find a strong negative association between economic and social rights framed as enforceable law and poverty when we use legal origins as our IV. These results persist for indices of constitutional rights and also when they restrict the sample to non-OECD countries. The policy implication is that constitutional provisions framed as enforceable law provide effective meta-rules with incentives for policymakers to initiate, fund, monitor and enforce poverty reduction policies.

Professor Shor publishes new explanation for the Allais paradox

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jbdmThe Allais Paradox is one of the most enduring violations of expected utility theory, a hallmark theory of economics. Professor Mike Shor and coauthor Mark Schneider (a recent UConn PhD) have had their paper “The Common Ratio Effect in Choice, Pricing, and Happiness Tasks” accepted by the Journal of Behavioral Decision Making.

In the paper, Professor Shor elicits preferences for the Allais paradox choice alternatives using three different methods: traditional choice, monetary valuation, and subjective happiness ratings. He finds that both the consistency and distribution of responses differs systematically across different elicitation methods, with modal choices replicating the Allais preference pattern, modal happiness ratings exhibiting consistent risk aversion, and modal valuations maximizing expected value. The paper finds support for a dual process framework in which people use either a “logical” or an “intuitive” thinking process depending on the task.

Professor Harmon presents at Morgan Le Fay Center

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harmonAt the symposium “Understanding Our Neurodiverse World: Teaching Business and Economics to Students Who Learn Differently,” on Saturday, October 1, 2016, Professor Oskar Harmon gave an invited presentation on Universal Design in Online Instruction.

The keynote speaker was Paul McCulley, former chief economist and managing director at Pacific Investment Management Company (PIMCO).  The other speakers at the day long symposium included Peter Fisher, J.D., senior lecturer at Dartmouth College’s Tuck School of Business, and Manju Banerjee, Ph.D., VP of Research and Innovation at Landmark College.

The symposium was sponsored by the Morgan Le Fay Center for Advances in Business, Economics, and Entrepreneurship, Landmark College, Putney, VT.

Two Economics Undergraduate Students Selected as 2017 University Scholars

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Congratulations to Economics students Rebecca Hill and Lucas Silva Lopes, who are among the twenty-three University of Connecticut undergraduates who have been selected as the 2017 University Scholars:

Rebecca Hill
Major: English/Economics
Project Title: The Western Madwoman: A Feminist History and Economic Study in Novel Form
Committee: Ellen Litman, English (chair), Veronica Makowsky, English & Women’s, Gender and Sexuality Studies, Delia Furtado, Economics

Lucas Silva Lopes
Major: Political Science/Economics
Project Title: Presidential Interruptions and Interim Presidents: How Do Latin American Countries Re-Equilibrate Both Politically and Macroeconomically After a Presidential Interruption?
Committee: Matthew Singer, Political Science (chair), Veronica Herrera, Political Science, Derek Johnson, Economics

“The University Scholar Program is one of the most prestigious programs for undergraduates at the University of Connecticut. Available to students from all of the University’s schools and colleges, the University Scholar Program allows students to design and pursue an in-depth research or creative project and to craft an individualized plan of study that supports their intellectual interests during their final three semesters. Each student is mentored by an advisory committee of three faculty.

No more than 30 University Scholars are selected each year. Admission is based on an application submitted during the first semester of a student’s junior year. Applications are reviewed by an interdisciplinary faculty committee that looks for innovative projects and academically rigorous course selection. Graduation as a University Scholar recognizes a student’s exceptional engagement in research and/or creative endeavors.”

universityscholars.uconn.edu

 

A New Master of Science in Quantitative Economics (MSQE) Program

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The Department of Economics has a new MS program, now accepting applications to start in Fall 2017.

The Master of Science in Quantitative Economics (MSQE) Program emphasizes the development of skills in quantitative methods and data analysis, as well as the application of those skills to economic problems.  The program combines training in economic principles/theory with strong training in quantitative and analytical methods.

The program qualifies as a STEM program. It is designed for individuals who seek careers in public and private sectors, including, for example, insurance companies, health care providers, think-tanks, financial consultancies, accounting firms, and academic institutions.

The program requires a minimum of 30-credits and typically is completed over three semesters.   Due to course sequencing, students are only admitted to the MSQE program for the Fall semester.

Learn more about the program and its requirements.

Econ Undergraduate Students Present at the NY and Boston Fed Challenges

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Stamford Econ Undergraduates Present at NY Fed ChallengeCongratulations to the undergraduate students from the Stamford and Storrs campuses who took part in the College Fed Challenge this month!

Sponsored by the Board of Governors of the Federal Reserve, 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 Stamford team (above left) participated in the NY Fed Challenge, competing against forty-one other schools.

The Storrs team (below right) presented at the Boston Fed Challenge, competing against twenty-four other New England schools.

Storrs Econ Undergraduates Present at Boston Fed ChallengeCongratulations to both teams on all of their hard work in this competition!

Stamford Team:

Joanna Ksiazek
Chris McLaughlin
Amir Parikh
Shrey Patel
Alex Rojas
Ravinder Singh
Dr. Julia Coronado (Advisor)
Professor Oskar Harmon (Advisor)
Professor Steven Lanza (Advisor)
Professor Kanda Naknoi (Advisor)

Storrs Team:

Patrick Adams
Matt DeLeon
Erik Eason
Gabriel Hack
Ed Leardi
Stephen Mwangi
Matt Regan
Joe Roessler
Professor Owen Svalestad (Advisor)

Professor Prakash publishes in American Economic Journal: Applied Economics

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Professor Nishith Prakash’s paper “Cycling to School: Increasing Secondary School Enrollment for Girls in India“, with Karthik Muralidharan, has been accepted for publication in the American Economic Journal: Applied Economics.

In this paper, the authors “study the impact of an innovative program in the Indian state of Bihar that aimed to reduce the gender gap in secondary school enrollment by providing girls who continued to secondary school with a bicycle that would improve access to school.

Using data from a large representative household survey, we employ a triple difference approach (using boys and the neighboring state of Jharkhand as comparison groups) and find that being in a cohort that was exposed to the Cycle program increased girls’ age-appropriate enrollment in secondary school by 32% and reduced the corresponding gender gap by 40%. We also find an 18% increase in the number of girls who appear for the high-stakes secondary school certificate exam, and a 12% increase in the number of girls who pass it. Parametric and non-parametric decompositions of the triple-difference estimate as a function of distance to the nearest secondary school show that the increases in enrollment mostly took place in villages that were further away from a secondary school, suggesting that the mechanism of impact was the reduction in the time and safety cost of school attendance made possible by the bicycle.

We also find that the Cycle program was much more cost effective at increasing girls’ secondary school enrollment than comparable conditional cash transfer programs in South Asia.”

Professor Prakash is following up on this work with his new project, ‘Wheels of Change: Impact of Cycles on Female Education and Empowerment in Zambia’.  For more information, see Professor Prakash Studies the Impact of Bicycles on Female Education and Empowerment in Zambia

Professor Zhao a Panelist on China’s Macroeconomy, Urban Growth and Policy Analysis

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Kai ZhaoProfessor Zhao was a panelist at The 9th Annual Conference on China’s Economic Development and the U.S.-China Relationship, held at The George Washington University. The panel was on China’s Macroeconomy, Urban Growth and Policy Analysis.

In it, Professor Zhao discussed his recent research on the Chinese Saving Rate.

The full schedule of the conference can be found online at:

https://www2.gwu.edu/~iiep/signatureinitiatives/china/USChinaConference/2016/schedule.cfm

Professor Coşgel Publishes Book

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Economics of Ottoman Justice Book CoverProfessor Metin Coşgel has published The Economics of Ottoman Justice (Cambridge University Press, November 2016) with coauthor Boğac Ergene.

“During the seventeenth and eighteenth centuries, the Ottoman Empire endured long periods of warfare, facing intense financial pressures and new international mercantile and monetary trends. The Empire also experienced major political-administrative restructuring and socioeconomic transformations.

In the context of this tumultuous change, The Economics of Ottoman Justice examines Ottoman legal practices and the sharia court’s operations to reflect on the judicial system and provincial relationships. Metin Coşgel and Boğaç Ergene provide a systematic depiction of socio-legal interactions, identifying how different social, economic, gender and religious groups used the court, how they settled their disputes, and which factors contributed to their success at trial. Using an economic approach, Coşgel and Ergene offer rare insights into the role of power differences in judicial interactions, and into the reproduction of communal hierarchies in court, and demonstrate how court use patterns changed over time” – Cambridge University Press