Thursday, November 29, 2012

Chris Kwaramba `12 featured online by the VT MBA Program

Read about how one of our economics majors is fairing in his first year of graduate school at Virginia Tech.
http://www.mba.vt.edu/news/details/opportunities-and-camaraderie/

Chris Kwaramba `12



Tuesday, November 20, 2012

The Fiscal Cliff: Avoid it or take the plunge?

Dr. Kassens' Principles of Macroeconomics class spent the past week learning about debt and economic growth. In particular, they learned how government debt can crowd out private investment.

We investigated current statistics, including an analysis of the following graphs (generated by Dr. Kassens using the Federal Reserve Economic Data application). Click on the graph for a closer view.


As you can see, US debt to GDP ratio is over 105% after a long history of staying between 40-60%. A drastic increase occurred over the last four years. The debt is expected to increase during recession as government expenditures rise and tax revenues fall, but the recent debt/GDP increase is unprecedented.

Next, the class studied recent legislation and headlines regarding the debt, including the Budget Control Act of 2011 and sequestration. Congress built a fiscal cliff that the economy will go over January 1, 2013 if certain agreements are not met, including plans for significant debt reduction. The cliff is a mix of spending cuts (defense (~7.5%) and non-defense (~8.5% in affected discretionary programs, ~8.0% in affected mandatory programs excluding Medicare, and ~2.0% in Medicare)) and tax increases. Because the "Supercommittee" did not come to an agreement in 2011, we are set to step over the cliff at the start of 2013.

The class then split into groups and read the November 2012 CBO report about the impact of the fiscal cliff and possible alternatives on the economy in terms of changes in output and employment. The CBO expects that unemployment will rise to 9.1% and GDP fall by 0.5% if we go over the cliff, although they anticipate a recovery over the following years. ECON 122 noted that this increase in unemployment does not account for increases stemming from the implementation of PPACA's employer mandate. The CBO also provided several alternatives, including extending tax cuts for a year. These alternatives have a lesser impact on the labor market and GDP, at least in the short-term.

Finally, each group made a recommendation to Congress. Their choices included those outlined by the CBO. About half of the class recommended biting the bullet and jumping over the cliff. They cited several reasons:
1) The US is losing international credibility because it cannot get its financial house in order. Taking a bold step would send the signal that the government means business this time and is not just kicking the can down the road for another year.
2) The US's credit rating will only worsen with our current debt load and inaction. We need to take steps to correct this, else our interest payments will increase dramatically. Interest paid on the debt is money not spent on education, infrastructure, and other crucial domestic needs.
3) ENOUGH! These students realize that they are the generation that will bear the burden of the current debt and they want serious action.

The other groups argued that our economy is too fragile to accommodate such a drastic move and that the tax cuts should be extended for a year. In the meantime, Congress needs to get serious about making plans to right the economic ship and stop the continuous bickering.

As a professor, I was impressed with the sophistication of our discussions. These student may only have one semester of macroeconomics on their resume, but Congress would be wise to listen to them.

Tuesday, November 13, 2012

Consumer sentiment poll

One of the articles in the most recent issue of Roanomics discussed consumer sentiment and unemployment. The following data was included:


The graph shows the trends in the US unemployment rate (right axis)and the index for consumer confidence produced by the University of Michigan (left axis) each month.

We would love for you to put your economist hat on and fill out the following survey. The results will be discussed in the March newsletter.


Monday, November 12, 2012

RC Research Blog Writes about Economics Publication

The RC Research Blog posted an interview with Dr. Alice Louise Kassens about working with undergraduate researchers. The post features a joint publication by Dr. Kassens and three former students, Sara Caudle, Tyler Rinko, and Justin Tuma.


Read it here: http://www.rcresearch.org/?p=134

Tuesday, November 6, 2012

Roanomics is here! Vol. 3, Iss. 1 - An Election day distraction

Student Editor Kerry Murphy `13 and I hope that you enjoy our latest. Thank you to all contributors. ENJOY!
Roanomics Vol.3, Iss. 1

Wednesday, October 31, 2012

Undergraduate Publication Deadline-Papers and Pubs

The deadline for submission for the second issue of Papers and Pubs is January 15, 2013.


Papers and Pubs is a peer-reviewed journal of undergraduate research and is published by the University Press of North Georgia and supported by the Center for Undergraduate Research and Creative Activities (CURCA) at North Georgia College & State University. Papers and Pubs promotes student learning by disseminating undergraduate research and creative works that make an intellectual or creative contribution to the discipline or to applied practice. Editor-in-Chief is Dr. Miriam Segura-Totten, and co-managing editors are Dr. Frank Corotto and Dr. Tanya Bennett.

This is a great opportunity for undergraduate researchers. The journal is peer reviewed and accepts submissions from a variety of subject areas, including economics.

Information on the journal and submission can be found here: http://digitalcommons.northgeorgia.edu/papersandpubs/

Monday, October 22, 2012

Paper by Dr. Kassens and three students published

Almost two years ago Dr. Kassens mentored six undergraduate students' independent study/Honors in the Major projects. After the conclusion of the semester, three of the students (Sara Caudle, Tyler Rinko, and Justin Tuma) coauthored a paper describing the process used to manage the projects.



The draft of the manuscript was on the Social Science and Research Network's (SSRN) Top 10 List for several weeks.

The manuscript was officially published today by a peer reviewed journal, Perspectives on Undergraduate Research and Mentoring (PURM).

You can read the published version here: https://blogs.elon.edu/purm/current-issue-p-u-r-m-2-1/

This is the first published paper co-authored by Roanoke College economics faculty and students. Hopefully this is the first of many!

Thursday, October 11, 2012

New tenure track position approved for the Economics Program

Exciting news!


The Dean's Office has officially approved a new tenure-track position for the Economics Program. This will make the 4th such position in our department. The other positions are currently held by Dr. Garry Fleming, Dr. Edward Nik-Khah, and Dr. Alice Louise Kassens.

The job will be posted here on November 1 and sooner in the Chronicle of Higher Education.

We are looking for an economist (with a PhD in economics) to teach in the areas of general economics, international trade and finance, and/or environmental economics. Additionally we are looking for someone who can contribute to the new general education curriculum, Intellectual Inquiry. Economics is a perfect fit for teaching an INQ 260 course! For the specifics, read the official advertisement. (This IS NOT considered an official advertisement!)

We plan to interview selected candidates at the January 2013 AEA/ASSA meeting in San Diego, CA.

We will keep you posted on our search. For updates at the AEA/ASSA meetings, follow us on Twitter @roanokeecon

Wednesday, October 3, 2012

Student research opportunity and award - 2013 VAE Annual Meeting student sessions

Please read the below announcement for an opportunity to present your research AND a student paper competition with a $1,000 prize.


Past RC student presenters include Marko Krkeljas (2012), Nathan Castellano (2012), Nomin Baasandaava (2011), Gio Forte (2011), Danielle Shiley McClosky (2010), Virginia Hopkins (2009), and Samantha Sterba (2009).


FORTIETH ANNUAL MEETING
RICHMOND, VIRGINIA
MARCH 21-22, 2013


Message from the President

Dear Fellow Economists:

Please make plans to attend the 2013 Annual Meeting of the Virginia Association of Economists (VAE). This fortieth Annual Meeting will be held on March 21 and 22 in Richmond at the Federal Reserve Bank.

This meeting announcement includes a Call for Papers. This year, we will offer a VAE Best Paper Award. Details are described below. You may also choose to organize a session, chair a session, participate as a discussant, or simply attend to see some of the economic research being conducted by colleagues in the Commonwealth.

The BB&T Charitable Foundation will be sponsoring an undergraduate Student Essay Contest. The essay should answer the question "Do Markets Make Us More Moral?" First prize is an award of $1000 which will be presented at the annual meeting to be held on March 21-22 in Richmond. The contest is open to undergraduate students in schools where there are faculty who are members of VAE, and the deadline for submissions is February 15, 2013. (Previous winners are not eligible.) Essay must be no fewer than 800 and no more than 1,600 words in length, and double-spaced. Please submit essays electronically to Michelle Vachris, BB&T Professor for the Study of Capitalism at Christopher Newport University, mvachris@cnu.edu.

In 1993, the Board of Directors established the VAE Distinguished Fellows Award. The recipient of the 2013 Distinguished Fellows Award will be announced at the conference. A recipient must be a current or past member of the Virginia Association of Economists and must have made significant contributions either to the VAE or to the field of economics. Please contact me if you would like to submit a nomination.

I would also like to remind you that VAE publishes the Virginia Economic Journal. The editorial board of the VEJ accepts manuscripts on a continuing basis. If you would like to have your research considered for publication, please see the information below. Previous editions of the VEJ may be purchased at a rate of $10.00 per copy by contacting C. Barry Pfitzner. Keep in mind that all members who register for the annual meeting automatically receive a copy of the VEJ.

If you have any questions or suggestions, feel free to contact me directly at bushhf@vmi.edu or (540) 464-7632.

Sincerely,
H. Francis Bush


CALL FOR PAPERS AND PAPER AWARD


Call for Papers: The Program Committee will consider a paper or a one-page abstract of your planned research on any economics related topic—theoretical or applied—and either national, regional, or local in scope. Papers may focus on any issue or industry or they may focus on methodology; the choice is yours. The Committee is also planning two sessions devoted to student research projects. A friendly reminder—anyone choosing to participate in a session is required to register for the meeting and to remit the registration fee.

If you are interested in presenting a paper or organizing a session please submit your paper, abstract, or session idea no later than December10, 2012 to Program Committee Chair Alice Louise Kassens, Roanoke College. An abstract received from an undergraduate should indicate that the author is an undergraduate. If you are willing to discuss a paper, please contact Alice and indicate your areas of specialization. If you have any questions, Alice can be reached by email at kassens@roanoke.edu.

Paper Award: If you wish for your work to be considered for the VAE’s 2012 Best Paper Award, Alice must receive the full text of your paper via email no later than March 1, 2013.


Student Paper Competition

The BB&T Charitable Foundation will be sponsoring an undergraduate Student Essay Contest. The essay should answer the question "Do Markets Make Us More Moral?" First prize is an award of $1000 which will be presented at the annual meeting to be held on March 21-22 in Richmond. The contest is open to undergraduate students in schools where there are faculty who are members of VAE, and the deadline for submissions is February 15, 2013. (Previous winners are not eligible.) Essay must be no fewer than 800 and no more than 1,600 words in length, and double-spaced. Please submit essays electronically to Michelle Vachris, BB&T Professor for the Study of Capitalism at Christopher Newport University, mvachris@cnu.edu.


CALL FOR NOMINATIONS

Suggestions for nominations for officers of the VAE (President-Elect and Members of the Board) are being solicited by the Nominating Committee. Please send your suggestions to Liz Perry-Sizemore, Randolph College at epsizemore@randolphcollege.edu.


VIRGINIA ECONOMIC JOURNAL (VEJ)

Selected papers may be published in the Virginia Economic Journal, a publication of the Association that is designed to encourage research in economics, business and allied fields. It is not limited, however, to Virginia related research or to Virginia scholars and researchers. Manuscripts for the 2013 edition should be submitted by August 16, 2013 in accordance with the Guidelines for the Virginia Economic Journal. A copy of the Guidelines is available online at www.VaEcon.org or from Barry Pfitzner, Department of Economics and Business, Randolph-Macon College, Ashland, VA 23005, (804) 752-7307 or bpfitzne@rmc.edu. Questions concerning manuscripts submitted for publication should also be addressed to Barry.


VAE OFFICERS

President:
H. Francis Bush, Virginia Military Institute

Board of Directors:

Samuel K. Allen, Virginia Military Institute

Gregory M. Dempster, Hampden-Sydney College

Raymond Owens, Federal Reserve Bank of Richmond

Joseph Turek, Lynchburg College

Michelle Vachris, Christopher Newport University

Robert Winder, Christopher Newport University


President-Elect:
Alice L. Kassens, Roanoke College


Past-President:
Elizabeth Perry-Sizemore, Randolph College

Secretary:
Justin P. Isaacs, Hampden-Sydney College

Treasurer:
Anthony M. Carilli, Hampden-Sydney College

Publications Editor:
Steven D. Lang, Randolph-Macon College

Webmaster:
Billy Kinsey, Virginia Commonwealth University

Visit the VAE website at www.VaEcon.org.
Look for more news to come regarding the 40th Annual Meeting, including:
hotel and parking information, the tentative program, and
the announcement of our 2013 William A. Sandridge lecturer for
Thursday evening, March 21.

Thursday, September 27, 2012

NCUR Call for Abstracts opens soon!



Any undergraduate student who would like for their research to be considered for presentation at the 2013 National Conference on Undergraduate Research (NCUR) should submit an application and abstract beginning October 1, 2012. Abstracts and applications will be taken until December 4, 2012.

The the 2013 conference will be hosted by the University of Wisconsin-La Crosse April 11-13, 2013. More information, including a description of the application process, can be found here. You can follow the 2013 conference on Facebook by clicking here.

Two students from the Roanoke College Economics Program have been accepted to this prestigious conference in the last two years. Read about last year's student, Sara Caudle `12, here. Tyler Rinko `11 presented his research at the 2011 conference at Ithaca College.

If any economics student has any questions about the application process, please contact Dr. Alice Louise Kassens. For financial support and other resources contact Dr. Julie Lyon, Director of Student and Faculty Research.


Thursday, September 13, 2012

Students in Labor Economics discuss an article on US labor productivity

Students enrolled in Labor Economics are currently studying the labor supply curve. This includes discussions of the labor-leisure choice model, hours of work, and labor force participation. Labor productivity is calculated as output divided by the number of hours worked and is an important economic indicator.



Students read a recent article from The Economist addressing the trends in US labor productivity and a critique of several published journal articles on the subject. The article can be found here. After reading the article, students formed groups to put together a short statement about the article.

Read some of what they had to say!

...in recent years [labor productivity] slowed greatly because of slower innovations despite the disappearance of social inequalities...Mr. Gordon lauds the recent boom in cellular and Internet technology but says it will stagnate...
The American Bureau of Labor Statistics stated that labor productivity grew faster in the second quarter (of 2012). Before 1750 standards of living were low and grew at a very slow pace, yet within two centuries that standard greatly increased (plenty of food, clean water, controlled indoor temperatures, etc.) In the 1970s the pace started to decrease. Mr. Gordon attributes this to six issues: aging, debt repayment, a broken education system, global labor arbitrage, inequality, and pollution. He believes that this has and will cause a decrease in labor productivity.
Gordon's argument is not new...It is the kind of argument that attracts attention and gets brought up in a time of economic insecurity. His main point is that we have reached a plateau in our advancements as a nation. He does not say that this is the "end of the line", but we are certainly in a technological, social, and economic slump which we need to turn out of by re-energizing our technological advancements. 
...Mr. Gordon believes that our innovative days are over because the gains that have happened in history were "one-time-only" changes. Gordon has an even bigger theory of how the US economy will be depressed even further, but he leaves out many factors of why our economy can prosper. Every time the economy is in a slump some economist claims that the US is destined for "secular stagnation" when the economy has turned around after every stagnation.
The main idea of the article is historically we have been here before and we will get out of this rut eventually. Also there are different periods throughout history where growth was very slow and a few where growth was very high. We are not going to make any large jump in our standard of living, but we will be just fine as history has shown us.
Gordon's statement that the standard of living will not increase seems to be exaggerated. For the lower 99% of the income distribution to not see an increase, the top 1%'s would have to increase at a rate that would see them with all of the wealth before the turn of the century.
Mr. Gordon is wrong. The author of the article believes there is still more to be discovered. 

What is your response to the article?

Monday, August 13, 2012

Resources for undergraduate researchers in economics

Below is a link to a variety of resources for undergraduate researchers. All economics majors are required to take several courses in which a research project is a required component. Others take on additional independent studies or conduct research with faculty. Regardless of your situation, the following link will help you find funding resources and undergraduate journals and conferences. Other resources are available from the Office of Student/Faculty Research at Roanoke College.

http://serc.carleton.edu/econ/studentresearch/Further_UR_experience.html

If you are interested in conducting undergraduate research in economics or have questions about the Economics Program's empirical research course, ECON 448, please contact Dr. Alice Louise Kassens.

Read about projects by undergraduate researchers in economics on the Maroons in Action.

Economics Minor Justin Tuma '11 in the news

Roanoke College published an article on Economics Minor Justin Tuma `11.

Justin completed his graduate degree at Durham University and is returning to Virginia to coach lacrosse at Randolph Macon.

Read the story here: http://www.rcnewsblog.com/?p=4988

Monday, July 16, 2012

Dr. Kassens interviews several Olympians

For the past two months Dr. Kassens has been blogging for Women Talk Sports (WTS). The site's mission statement reads:

With the goal of promoting and empowering female athleticism, WomenTalkSports.com is an online network that connects the best blogs relating to women's sports. The site aims to raise the level of awareness of women in sport by providing comprehensive sport coverage, spotlighting outstanding achievements, and working with sporting associations on advocacy issues and empowering programs.


Kassens, who writes under the handle "therunningeconomist", conducts interviews and analysis of distance running. Some of her biggest interviews came over the past few weeks during the US Olympic Track and Field Team Trials. Her interviews include those with Stephanie Brown-Trafton (2008 Gold Medalist, Discus) and Kara Goucher (two time Olympian, World Championship Bronze Medalist, fastest US female half marathon).

Currently her interview with Kara Goucher is one of the most read posts on the site.


Monday, June 18, 2012

Awards and recognition continue to roll in

Congratulations to Roanoke College Economics students for the following awards:

Jimmy McNeely
Jimmy McNeely '12 2012 ODAC/StellarOne Sportmanship Team - Men's Lacrosse
The ODAC recognizes student-athletes for excellence in sportsmanship each year. Economics minor Jimmy McNeely, was one of 9 Roanoke College student-athletes across the 10 spring sports sponsored by the conference honored.

Katie Thornton '13 Honorable Mention - Mathematical Competition in Modeling
Students from across the country participated in a four-day competition run by the Consortium for Mathematics and Its Applications. Roanoke sent two teams, led by mathematics professor Roland Minton. Economics Major Katie Thornton was a member of the team receiving Honorable Mention. Other schools earning this honor included MIT, Cornell University and Washington and Lee University.

Friday, May 18, 2012

Its never to early to plan for summer 2013!

Undergraduate summer research opportunities for economics students are available from ICPSR (a data resource used by many students in econometrics). Applications are typically due in February for the following summer. If you enjoy research, this would be a great experience and serve as a great signal to future graduate programs and employers.

I will remind students in econometrics this fall about the opportunity, but go ahead and mark you calendars!

Some basic information (you can see that ECON 448 gets you ready!):

Qualifications:

Strong academic credentials
  • Knowledge of a statistical software package such as SPSS, SAS, or Stata
  • Previous experience with social science research via work or class project
  • Demonstrated leadership, problem solving, and strong verbal and written communication skills
  • Ability to prioritize tasks, work on multiple assignments at once, and manage ambiguity
  • Ability to work both independently and as part of a team with professionals at all levels

Compensation:

$3,000 - $5000* stipend, room and partial-board in university housing, and a scholarship covering the cost of fees, texts, and materials for coursework in the ICPSR Summer Program.

Thursday, April 19, 2012

Congratulations Sara Caudle '12

Yesterday Sara Caudle (BUAD and ECON major) earned Honors in the Economics Major.  Sara continued work on a project that has taken her two years.  The project analyzes determinants of student productivity at Roanoke College and this semester she investigated the impact of health education and awareness.  Julie Maina, Sara, and Alice Kassens will continue this project over the summer and hope to develop a proposal for the College based on the findings.  The goal: a healthier student environment!

Sara's committee members included Drs. Julie Maina, Garry Fleming and Alice Kassens.

An earlier component of this project was accepted at the National Conference for Undergraduate Research indicating the high level of Sara's work.  Additionally, Sara earned Honors in Business Administration last year as a junior.

Great job Sara and Roanoke College will miss you dearly next year.

Friday, April 13, 2012

Congratulations to Marko Krkeljas `12

This is the time of year in which fingers are crossed and we wait to hear if our strong students will be rewarded for their hard work by way of a job offer or acceptance to graduate school.

I received a call from senior Marko Krkeljas last night.  He informed me that he had been accepted to the University of Virginia's McIntire School of Commerce for the MS program in Commerce.  Marko is our first student to be accepted to this program and we are very proud of him.  His hard work and perseverance over the last four years has paid off. Congrats to you Marko!

Thursday, April 12, 2012

Congratulations Chris Kwaramba `12

Yesterday afternoon Chris Kwaramba successfully defended his Honors in the Major project investigating the impact of PPACA (the health care bill) on the supply of physicians.

Not only was his paper strong, but his presentation was clear, professional and complemented his paper perfectly. Dr. Alice Kassens was his Honors Advisor and the other committee members were Dr. Garry Fleming and Dr. Julie Lyon.

We are very proud of Chris and wish him well in graduate school next year at Virginia Tech.

Chris will graduate with honors May 2012 with a degree in economics.

Thursday, April 5, 2012

Justin Tuma `11 attends graduate school and plays lacrosse abroad

Justin Tuma `11 and Team Durham
Read a recent article from the RC Newsblog about economics minor Justin Tuma who is attending Durham University and continuing his lacrosse career.  Justin was a standout student-athlete at Roanoke College and continues his winning ways abroad.  We are very proud of you Justin!
http://www.rcnewsblog.com/?p=4231

Tuesday, March 20, 2012

The Running Economist: A running and research long weekend - Part 2

The Running Economist: A running and research long weekend - Part 2: Day 2 - Presentation, run, dinner and basketball My plenary session presentation went off without a hitch.  The Prezi was very popular.  L...

Friday, March 2, 2012

Calling all alumni, students and friends...what's up?

Roanomics will be out later this month.  Please take a moment to fill out our surveys on the blog to keep us up to date on what is new with you!  Anything in particular that you would like to see in the newsletter?

Wednesday, February 29, 2012

Attention Students: Want to make some $$$$?

Working on a paper regarding income inequality? Why not win some money for it? The Fraser Institute is sponsoring a student essay contest with the Lotte and John Hecht Memorial Foundation.

First place earns $1,000 and second $750. Entries are due June 30, 2012 and are made online. For more information go to http://www.fraserinstitute.org/education-programs/students/essay-contest.aspx

Congrats to Senior Chris Kwaramba


We are pleased to announce that Roanoke College Economics Major Chris Kwaramba has been accepted to Virginia Tech's MBA program for next year. Several of our seniors have applied for graduate programs, including those in economics, law, and business.  We will keep everyone up to date on acceptances as the semester continues.

If you, our alumni, are currently in graduate school or are getting ready to go, please fill out our alumni surveys at the top of this blog to keep us up to date on what is new with you.

Friday, February 10, 2012

February Virginia Consumer Sentiment and Price Expectations

Dr. Alice Louise Kassens, working with the IPOR, released the February Virginia Consumer Sentiment numbers and information on price expectations.



Or go to the page here: http://roanoke.edu/News_and_Events/Campus_News/Feb_2012_Consumer_Spending_Poll.htm

Tuesday, January 31, 2012

MAROONS IN ACTION: January 31: Defining the research question

MAROONS IN ACTION: January 31: Defining the research question: Today Chris, Sara, and I worked on defining our research questions. To begin, we used a worksheet ( Research Toolkit: Define Topic ) made p...

Economics Club at Roanoke College

Monday, January 30, 2012

Kassens' comments included in national publication

Dr. Kassens' comments were included in a report on job creation and governors released today by Stateline.org.

The internet daily is covering the State of the State speeches made by Governors across the country.  Kassens was questioned about the recent State of the Commonwealth speech.

Read the report here http://www.stateline.org/live/details/story?contentId=628000

Friday, January 27, 2012

Sara Caudle on the RC News Blog

Read about Sara Caudle's research project and her plans for presenting and publishing.
http://www.rcnewsblog.com/?p=3596

Wednesday, January 25, 2012

MAROONS IN ACTION: Day One of the Spring 2012 URE

MAROONS IN ACTION: Day One of the Spring 2012 URE: We began our 2012 URE on January 24 in West 115. The focus of this meeting was introducing students to the Mentor Demonstration Model and e...

Monday, January 23, 2012

MAROONS IN ACTION: Spring 2012 Research Group

MAROONS IN ACTION: Spring 2012 Research Group: Four undergraduates are working with Dr. Kassens in an undergraduate research experience (Sara Caudle, Peter Holden, Chris Kwaramba, and Max...

Thursday, January 12, 2012

Economists are poets too! Part two

Dr. Darshak Patel, Visiting Assistant Professor of Economics, had his students write some poems in the final weeks of fall classes as a stress reliever.  This is the second part to the two part series.  Enjoy!


Supply and demand will always have curves
Factors will shift the two and get on some nerves
Whether elastic or not
It can still be hard to plot
Monopolies will reign
Even when the economy is going down the drain
-Gil Long


What I want is in high demand
It is something that I really can't stand
The price of the good is way too high
It is something that I cannot buy
But will the benefits outweigh the costs?
Someone help me I am lost
Adam Smith what do you think?
Will you help me work out this kink?
Adam tells me incentives matter
Should I climb this financial ladder?
The good is really important
I think I should go for it
I decide to buy the product
I figured I shouldn't doubt it
I am happy with my purchase
I don't know why I was nervous!
-Amanda Stewart


When price is less than average variable cost
Your company is lost
Don't worry about it, don't wear a frown
Its in your best interest to just shut down
-Spencer

Sunday, January 8, 2012

Sara Caudle `12 accepted to present at NCUR


The Economics Program is very pleased to announce that Sara Caudle `12 was selected to present her paper from econometrics at the 2012 National Conference on Undergraduate Research (NCUR).


Sara's paper, "Beer, Pizza, and Cigarettes: Is student behavior hazardous to GPA?", was chosen from more than 3,500 submissions.  She will present her work to other students, faculty, and staff from all over the world. The 2012 conference is hosted by Weber State University in Ogden, Utah March 29-31 http://www.weber.edu/ncur2012/


Sara is one of the top students in the Economics Program.  She is a double Economics and Business Major.  Last year she earned honors in the business major and this semester will tackle Honors in the Major for Economics.  Sara is the student editor for Roanomics, the Economics Program newsletter.

If you see Sara on campus give her a big high-five and wish her luck.  She will make Roanoke College proud at NCUR!


Tuesday, January 3, 2012

Dr. Kassens and Dr. Ellerbrock (Virginia Tech) give their opinions about the 2012 economy

Dr. Kassens and Dr. Ellerbrock (Virginia Tech) comment on the 2012 economy in the 1/1/2012 Roanoke Times Horizon section (p. 5).

http://blogs.roanoke.com/roundtable/2012/01/pointcounterpoint-the-economy-in-2012/

Check out their comments and join the live chat from 12:00-12:30 on January 3 via the Roanoke Times webpage.  


The reminder and location for the live chat can be found here:
http://blogs.roanoke.com/roundtable/2012/01/live-chat-reminder-the-economy-in-2012/