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Minnesota State University, Mankato

Minnesota State University, Mankato
Economics Department

Economics News

Page address: http://sbs.mnsu.edu/economics/news/

The Economics Department is currently updating its website. Please contact Amanda Greenig or Ihsuan Li if you have any questions regarding the content of the webpages.

 

 

Upcoming Events

 

Please note there is a change in the location of the induction dinner following the Tabarrok lecture. The Kappa ODE induction dinner will take place in CSU 245. 

 

The Spring 2014 Special Advising Session will take place on April 28, 2014, 4 pm to 5:30 pm. Location MH102. Alumnus Bill Sinclair (2009) will talk about his experience in the job market with a degree in economics. Bill is currently working at US Bank as a Credit Risk Analyst II. Mr. Eric Anderson, alumnus and Mayor of Mankato, will also discuss the value of the economics degree in public service. Dr. Robert Simonson and Ihsuan Li will lead the advising session. "Free" pop and pizza!

 

The Annual Economics Lecture Series, with special guest Dr. Alex Tabarrok, has been rescheduled for April 23, 2014, Wednesday, same time and place. The Kappa ODE induction dinner will follow the lecture at 6:45 pm at CSU 253. 

 

April 23, 2014 is the date for the Kappa ODE induction dinner and the Lecture, cosponsored by the EconClub and the department of Economics. The guest speaker of honor is Dr. Alex Tabarrok of George Mason University, and co-blogger of Marginal Revolution. Dr. Tabarrok will speak on the topic of democracy and voting theory. It will be held in Ostrander Auditorium, 5:30 pm, Centennial Student Union, Minnesota State University, Mankato. The dinner following the lecture will take place in CSU 253 at 6:45 pm. If you are interested in attending the dinner, please contact Amanda Greeenig (389-2969) for cost and menu information.

 

Kappa Omicron Delta Epsilon will induct eleven members this year on April 23, 2 014. Induction ceremony will take place in CSU 253, 6:45 pm.

  

The 2014 Winchell Undergraduate Research Conference sponsored by the Minnesota Academy of Science will be held in St. Mary's University in Winona, MN. The registration is open for students wishing to present their term paper or research projects. Students in STEM fields and economics/finance/business are encouraged to apply for presentation. The date is April 26th, 2014, Saturday. The event takes place on the St. Mary's University campus, from 10 am to 4 pm. For registration information, contact Dr. Ihsuan Li, Morris Hall 123, or 389-5753. Participation fee is $75, this covers the dinner and attendance to break-out sessions. The best paper award in each session will be judged by faculty in the discipline, and recognized with cash award and the paper considered for publication at the MAS journal.

 

 

 

Department and Student News

 

Spring 2014

 

Alumnus Jesse Backstrom (2012) will be completing his MA in Economics at Utah State U this summer. Jesse has been accepted to the PhD program in Agricultural Economics at Texas A&M. Jesse will commence his doctoral studies this fall. Congrats, Jesse! 

 

Alumnus Aaron Bader (2011) was accepted to the PhD programs in (Applied) Economics at the University of Minnesota and the University of Nebraska, Lincoln. Aaron will start the doctoral program this fall at UN, Lincoln. Congrats Aaron!

 

Kappa chapter of Omicron Delta Epsilon will be recognized on April 27th, 2014 as Outstanding Recognized Student Organization at MSU, M. The award, given out once a year, recognizes student organizations that have served the student body, the University, the members, and the community at large. Kappa ODE was nominated by Professor Ihsuan Li, advisor to the chatper. 

 

Student Matthew Petersen (e. 2014; Economics/Finance/Math) won the Outstanding Leadership Award 2013 by Omicron Delta Epsilon, International Honor Society in Economics. Matthew was nominated by Professor Ihsuan Li, advisor to the chapter. Congrats Matthew!

 

Three students represented MSU, M at the Midwest Undergraduate Data Analytics Competition 2014. Students Matthew Peterson (Econ/Fin/Math), Ozlem Barin (Econ), and Marinda Phanadouvong (Econ/CS) make up the team. There are 25 teams and 75 students competing this year. The competition was held at the Winona State University campus. The competition took place on 4/5-4/6. The winning teams were from Concordia College (1st), Iowa State (2nd), and Winona State (3rd). The MSU students were advised and led by Dr. Ihsuan Li.

 

The Department of Economics was represented by Professor Ihsuan Li who presented an information session on the Career Panel Day, 1/28/2014, CSU 204. If you need further information, please visit the alumni profile page on the econ website, or stop in at the econ desk in Morris Hall 150 and speak to the Chair of the Department, Dr. Robert Simonson.

 

Fall of 2013

 

We are pleased to announce the Fall 2013 Best Senior Research Seminar Paper. The Award goes to Frerishia McKenzie. Frerishia’s paper, titled “Accounting Regulations and Sarbanes Oxley,” examined the aggregate impact of Sarbanes Oxley Act of 2002 on the probability of financial restatements.The runner ups were Taylor Barlament and Steven Brudvig. Taylor examined the impact of shall-issue concealed weapons and firearms trainings regulations on crime rates. Steven revisited the topic of community college education on graduation rates in four-year colleges.

 

Kelsey Busch (exp. 2013), an economics and management major, was the recipient of the Jane M. Klausman Women in Business scholarship awarded by Zonta Club of Mankato, a chapter of Zonta International, in May 2013. The scholarship in the amount of $100 is awarded to students majoring in degrees in business, management or related majors, and recognizes outstanding women with leadership potential. Kelsey advances to the regional level competition for the $1,000 scholarship. Congrats, Kelsey!!

 

Dr. Richard Vedder, our honor guest and speaker in last spring's Kappa ODE induction dinner and lecture, is featured on a Wall Street Journal article on the education bubble.

 

The department welcomes Aaron Bader. Aaron is a fixed term instructor, and he will teaching ECON100 and ECON201.

 

Welcome back everyone to a new academic year at MSU, M!

 

 

Spring and Summer of 2013

 

 

Brett Fleck (2009) completed his thesis for M.S. (2013) in Agricultural and Resource Economics (thesis title: Factors Affecting Agricultural Water Use and Sourcing in Irrigation Districts of Central Arizona), at the University of Arizona, Tucson, Arizona. Congrats, Brett!

 

Austin Lee (2012) economics major, was awarded the Graduate Honors Fellowship, Phi Kappa Phi, 2013. Congrats Austin!

 

The best Senior Research Seminar term paper in the spring 2013 semester was awarded to Matthew Tuomala. The runner ups were TBA and Mathew Malvin. Congratulations for a job well done!

 

 

 

 

 

 

 

 

 

The Department of Economics co-hosted the Annual Economic Lecture held each year on the Omicron Delta Epsilon induction day. This year's lecture was given by Dr. Richard Vedder, director of the Center for College Affordability and Productivity. The event took place on April 9, 2013, 6 pm, Ostrander Auditorium, Minnesota State University Mankato campus. See: [PDF] Richard Vedder Lecture on April 9, 2013. (93 KiB)

 

Ozlem Barin (2014) is the recipient of the International Endowment Scholarship at MNSU for the 2013-2014 academic year. Congrats, Ozlem!

 

Students Jongha Jung and Curtis Gruidl presented their papers on the topics of time series analysis of industrial time varying betas in the US, and state budget deficits and political ideology at the MnSCU Conference, April 8th, 2013, in Minnesota State University, Mankato. Other students who presented in the economics session came from Minnesota State University Moorhead, students Ryan Dylan, Rachel Hettich, and Kawai Lau. Jongha was mentored by Professor Ken Park, and Curtis was mentored by Professor Ihsuan Li. Congrats to everyone for a job well done!

 

Congratulations to students Mathew Malvin, Ozlem Barin, and Matthew Petersen, for their economics scholarship award. Mathew received the Frauenshuh scholarship; Ozlem the Askalani scholarship; Matthew the Petersen scholarship.

 

Ms. Ozlem Barin, Economics major student, has been awarded First Prize in the for her paper “An Analysis of Labor, Infrastructure, and Education Issues Brought by the North Dakota Oil Boom.” The First Prize award includes an internship at the Community Development Finance Department of the Federal Reserve Bank of Minneapolis during the summer of 2013. The Federal Reserve will also publish Ms. Barin’s paper in July, 2013.The Undergraduate Writing Competition was open to all undergraduate students in the states of the Ninth Federal Reserve District (Minnesota, Montana, North Dakota, South Dakota, 26 counties in Northwestern Wisconsin, and the Upper Peninsula of Michigan). Ms. Barin’s research was supported through a Minnesota State University, Mankato Foundation, Inc. Award ($1,000 stipend), and her research was completed under the supervision of Dr. Ihsuan Li.

 

Congrats to members of Kappa Chapter of Minnesota of Omicron Delta Epsilon, International Honor Society in Economics for its award in Community Service. The award, presented by the College of Social and Behavioral Sciences, will be formalized in a ceremony on April 16th, 2013, CSU 253, 8 am. Professor Ihsuan Li, the advisor to the Kappa Chapter, nominated the Chapter for the recognition.

 

The Center for Economic Education at MSU, M hosted the 2013 challenge on March 22, 2013.Two local high schools participated. Dr. Ashok Chowdhury is the Director of the Center. Please contact him for additional information.

 

Students Michael Fitzgerald and Curtis Gruidl were the recipients of small (stipend) grants from URC. Mike proposed to examine the relationship between tuition and state level appropriations. Curtis' grant proposal looks at budget deficits at state level from the public choice perspective. Both students' work were supervised and the grant sponsored by Professor Ihsuan Li. The students are required to present their findings in the Undergraduate Research Symposium on April 16th, 2013. Congrats!

 

The department of Economics held its third Special Advising session on February 20th, 2013 (Wednesday), 3:30 pm to 5:30 pm, MH 102. Alumni Mike Murzyn, Senior Director of Analytics at CotterWeb Enterprises, Inc. and Eric Anderson, Major of the City of Mankato, talked to students about the major and how econ helped them with their careers. About 45 attendees were present. For futher information, contact the organizer of the event and advisor of Kappa ODE, Professor Ihsuan Li.

 

The department made a session presentation during the Professional Development Day (January 9, 2013; 1:15 to 2:15 pm; Armstrong Hall 217) on the topic of "Program Redesign in Economics: challenges and achievements." Professor Ihsuan Li and Dr. Robert Simonson, Chair of the Economics Department, presented the material.

 

The Kappa chapter of Minnesota of Omicron Delta Epsilon was awarded a grant of $1,500 from the International Honor Society in Economics, Omicron Delta Epsilon. Professor Ihsuan Li, Advisor to the Chapter, sponsored the grant proposal. The grant is to fund the Annual Economic Lecture hosted by the department and the two student club organizations (Econ Club and Kappa chapter of ODE).

 

Great news from alum Austin Lee (2012). Austin was accepted to the Law School at Stanford University and will start grad school this fall semester.

 

The department is represented again this year at the National Council on Undergraduate Research (NCUR) Conference. Students Matthew Petersen, Ozlem Barin, and Ryan Backstrom were selected among 3,500 students nationawide who submitted their research abstracts for presentation at the 2013 NCUR Conference. Professor Ihsuan Li supervised their research and sponsored their submission to NCUR. Congratulations to Ozlem, Matthew, and Ryan! We are very prouf of your achievements.

  

 

The top paper award from the Senior Research Seminar course (ECON482) in fall 2012 has been announced: TBA won the honor for the best research paper. The runner ups were Jesse Backstrom, Zach Hubert, and Cooper Johnson. Congratulations to all!

 

 

 

 

 

 

 

Spring and Fall 2012

 

 

 Ozlem Barin (exp. 2013), economics major, was named a finalist in the Federal Reserve Bank of Minneapolis Community Development Finance Undergraduate Writing Competition, 2012. The competition, open to all undergraduate students in the six states of the Ninth Federal Reserve District (Minnesota, Montana, North and South Dakota, 26 counties in northwestern Wisconsin and the Upper Peninsula of Michigan), required students to address public policy issues raised by the effects of the North Dakota oil boom on area residents.  Three top essays were chosen from all essays submitted to the competition, and the best essay will be chosen on March 2013 after a presentation in a conference at the Federal Reserve Bank of Minneapolis. As a finalist, Ozlem will receive a scholarship to attend the conference and compete for the first prize, an internship at the Community Development Finance department of the Federal Reserve Bank of Minneapolis in the summer of 2013. Ozlem was also the recipient of a Foundation Award ($1,000 stipend) from the for her research proposal entitled “An Analysis of Labor, Infrastructure, and Education Issues Brought by the North Dakota Oil Boom.” Ozlem's essay was written under the supervision of Professor Ihsuan Li.

  

 

Students Jungha Jung and Ozlem Barin were awarded funding for their research proposals submitted to the Undergraduate Research Center. Jungha received URC funding for supplies and Ozlem was awarded the Foundation grant. Jungha's proposal was sponsored by Professor Ken Park, and Ozlem's proposal was sponsored by Professor Ihsuan Li. Congrats!!

 

The department organized its second Special Advising Session for Econ majors/minors on 10/17/2012 (4:30 pm to 6 pm; MH102). There was very good attendance, and students heard from alum and guest speaker Robert Malvin talk about the usefulness of an econ major in the business world. Pizza and pop were served. For further information, contact the organizer of the event, Professor Ihsuan Li.

 

Justin Bedore (2012) is the recipient of the Gold Key Award, by Omicron Delta Epsilon, International Honor Society in Economics, in its Outstanding Student Leader Awards Competition for 2011-2012. Justin was nomianted by Kappa Chapter advisor, Professor Ihsuan Li. Congrats, Justin!

 

 

 

 

 

 

 

 

 

Ozlem Barin (exp. 2013), an economics major from Turkey, was the recipient of the Jane M. Klausman Women in Business scholarship awarded by Zonta Club of Mankato, a chapter of Zonta International, on May 8, 2012. The scholarship, in the amount of $1,000, provides financial assistance to women pursuing undergraduate degrees in business, management or related majors, and recognizes her outstanding leadership potential. Congrats, Ozlem!

 

The Economics Department is pleased to announce that student Dana Simonson (2012) is a finalist in the Atlantic International Economic Association 2012 Undergraduate Student Research Paper contest. The best paper will be announced on October 7th, 2012 in Montreal, Canada. Dana's paper was written in the Senior Research Seminar course, Econ 482W, and sponsored by Professor Ihsuan Li. The top four finalists are Dana Simonson (Minnesota State University, Mankato), Jia Yi Leong (University of Warwick, UK), Colin Gray (Stanford University, USA), and Boris Georgiev (Aarhus University, Denmark). Update: Dana Simonson presented her paper on October 6th; Colin Gray of Stanford University won the best paper award from IAES. Our thanks to Dana for presenting her paper and congratulations to Colin.

 

 

 

 

 

 

 

Congratulations to student Justin Bedore! Justin accepted a job offer with the FDIC in Sacramento, CA. Justin will be joining the FDIC office in the fall of 2012.

 

Alex Hevern, recent Economics major graduate, was admitted to Master in Public Policy programs at Carnegie Mellon University, University of Minnesota, and (waitlisted) at University of Chicago.

 

The department is pleased to announce that two student research papers from students Hanako Maruyama, Matthew Petersen and Joshua Rosamond were accepted for presentation at the 2012 NCUR conference at Weber State University, Ogden, Utah. Matthew, Joshua, and Hanako's papers were written under the supervision of Professor Ihsuan Li. Congrats!

 

Students Justin Bemenderfer, Ben Guthmiller, Victor Agunbiade, and Gulmira Fazilova presented their research paper at the Minnesota State University annual undergraduate research symposium, URC, on April 9, 2012. Victor's presentation on the topic of government agricultural subsidies and their impact on farm rental rates was chosen as the best paper presentation in the economics session. The session included four papers, including business topics. The students' papers were sponsored and supervised by Professor Ihsuan Li.

 

Congratulations to Ben Guthmiller who was chosen to present his research paper at the first MnSCU undergraduate research conference hosted at Minnesota State University, Mankato, on April 23, 2012. Ben's paper tested the pecking order theory using updated financial data and contributed to the literature by controlling for specific industries in the sample. Ben's paper was supevised by Professor Ihsuan Li.

 

Congrats to student Gulmira Fazilova! Gulmira is the recipient of a Foundation Grant of $1000. Gulmira's paper examined post transition market economies in the former Soviet bloc countries. Gulmira's grant proposal was sponsored by Professor Ihsuan Li.

 

Joining the rank of emeriti faculty members is Dr. Schiming, who retired in May 2012. Follow this link to find contact information of the following emeriti faculty members: [PDF] www.mnsu.edu/emeriti/lists/Emeriti0607.pdf (635 KiB). They are: Arlen Skorr (Mankato), Arnie Wells (Good Thunder, Minnesota), Gerald Alonzo Smith (Mankato), Don Renner (Minneapolis), Jason Kesler (Bloomfield, KY), Paul Thompson (Mankato), David Abel (Mankato), Richard Schiming (Baltimore, Maryland), and Paul Tix (Stearns County, Minnesota).

 

Ms. Amanda Greenig joined our department as the new administrative assistant, replacing Ms. Barb Lutz who retired in May of 2012.

 

The number of economics majors has grown by about 40% since 2008 to 165 students (spring of 2012). Similarly, the Kappa chapter of Omicron Delta Epsilon of Minnesota at MSU, Mankato has seen a significant increase in new members. The chapter has inducted a record number (15) of new members in 2012, the third highest number since its inception in 1986.

 

Many of our recent graduates have returned to MSU, M to pursue further graduate studies in Mathematics and Statistics. Among them are Aaron Bader, Yuyoung Park, Guncha Jumakuliyeva, and Jacob Westman. We are very proud of these focused and committed students; we wish them the best as they continue on their way to preparing for eventual doctoral degrees in Economics once they graduate with their master's in Math and Stats.

 

Economics major student, Austin Lee, was chosen to deliver the commencement speech representing the College of Social and Behavioral Sciences in May 2012.

 

Professor Richard Schiming retired this May 2012 after 31 years of teaching at Minnesota State University, Mankato. Our best wishes to Dr. Schiming.

 

Ms. Barbara Lutz, administrative assistant to the Economics Department, also retired this past May after 37 years of service to the department and the University. Ms. Lutz will be sorely missed by students, faculty members, and staff who were fortunate to have known her. Best wishes to Barb!

 

On April 9, the Economics department held its first career and major advising session. The session provided information on graduate school preparation, job search, local business presentation, and preparation toward Senior Research Seminar (capstone course). For more information, contact the organizer of the event, Professor Ihsuan Li.

 

The department is pleased to announce the offering of an online, diversity Purple, and writing intensive course, starting the fall semester of 2012. The course, ECON 103 W The Economics of Women's Issues and Public Policies in the United States, will examine major gender related issues from the economic perspective. Professor Ihsuan Li submitted the course proposals and will be the  instructor for the courses.

 

Congratulations to students Frerishia McKenzie, Cooper Johnson, and Nicholas Laxen for their scholarship awards! Frerishia was awarded the 2012 Askalani Scholarship, Cooper the 2012 Frauenshuh Scholarship, and Nicholas the 2012 Petersen Scholarship. Update (spring 2012): Jesse Backstrom was awarded the Petersen Scholarship, replacing Nicholas Laxen as the deserving recipient.

 

Since 2009, the Department of Economics has brought to MSU nationally well known speakers as invited guest speakers for its Kappa Omicron Delta Epsilon Lecture Series. Among the invited speakers were Dr. Yaron Brook of Ayn Rand Institute, Timothy Taylor of the Journal of Economic Perspectives, Dr. King Banaian of St. Cloud State University, Dr. Thomas Woods of the Von Mises Institute, and Dr. Robert Murphy of the Von Mises Institute. The annual lectures are usually held in April of each year on MSU campus. If you are interested in this series and in attending upcoming lectures, for further information please email or contact Professor Ihsuan Li, Advisor to the Kappa Chapter of ODE.

 

The Best Senior Research Seminar paper award in spring of 2012 went to student Justin Bemenderer. The runner ups were Dana Simonson and Aaron Christie. Congrats!

 

Spring and Fall 2011

 

Economics major student Guncha Jumakuliyeva was chosen to deliver the commencement speech representing the College of Social and Behavioral Sciences in May 2011. Guncha was nominated by Professor Ihsuan Li.

 

The department is very honored to be the recipient of a new scholarship established by alum David Frauenshuh. Mr. Frauenshuh is an economics major graduate from MSU, M (1966). In addition to the scholarship, Mr. Frauenshuh has also invited two of our majors, Yuyoung Park and Aaron Bader, to attend luncheon lectures at the Economics Club in Minneapolis (fall of 2011).

 

The Best Senior Research Seminar paper award in fall of 2011 was awarded to TBA. The runner up was Ms. Hanako Maruyama. Congrats!

 

The Best Senior Research Seminar paper award in spring of 2011 were awarded to Ms. Guncha Jumakuliyeva and Mr. Aaron Bader. The runner up was Alex Hevern.

 

Congratulations to Yuyoung Park! Yuyoung, who graduated in December 2010, won the second prize in the student term paper contest held by the Minnesota Economic Association, sponsored by the Federal Reserve Bank of Minneapolis. Yuyoung's paper examined financial aids and crime rates. You can read the paper at: http://www.minneapolisfed.org/mea/contest/2011.cfm. Yuyoung wrote her paper for the Senior Research Seminar course, Econ 482, taught by Professor Ihsuan Li.

 

 

 

 

 

 

 

Guncha Jumakuliyeva, who graduated in May 2011, won the second prize (runner up) in an essay contest sponsored by the four Federal Reserve Banks (Minneapolis, St. Louis, Atlanta, and Dallas) on the topic of restructuring new markets tax credit program. Guncha was the only undergraduate student among the top three finalists. Guncha presented her essay in the Fed conference in St. Louis, MO, May 2011 in the "Exploring Innovation: A Conference on Community Development Finance" conference. Her essay was supervised by Professor Ihsuan Li. Her essay is posted at the Minneapolis Fed website: http://m.minneapolisfed.org/article.cfm?id=4850

 

 

 

  

 

 

Congrats to Yuyoung Park! Yuyoung was the recipient of two research grants: the small research grant and the Foundation Grant at MSU. Ms. Park submitted a proposal to investigate the relationship between crime rates and financial aids in the United States. Her grant proposal was sponsored by Professor Ihsuan Li.

 

Spring and Fall 2010

 

The Best Senior Research Seminar paper award in fall of 2010 was awarded to Ms. Yuyoung Park. The runner ups were Amanda Helget and Christina Lotton.

 

The Best Senior Research Seminar paper award in the spring of 2010 was awarded to Jared Krull.

 

Ms. Guncha Jumakuliyeva was awarded a small research grant of $500 for her research proposal on affirmative action policies and gender wage differentials. Her grant proposal was sponsored by Professor Ihsuan Li.

 

Fall 2009

 

The Best Senior Research Seminar paper award in fall of 2009 was awarded to Kyle Frank.

 

The Economics program has redesigned its capstone course, ECON 482, Senior Seminar into Senior Research Seminar. The redesigned course was first offered in the fall of 2009. Students in this course are required to integrate economic theory with practice by producing a standard economic research paper in one semester. The instructor of the course is Professor Ihsuan Li.

 

 

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