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Welcome to the fall edition of our Department Newsletter!
Dear alumni, faculty, students and friends of UMD’s Department of Economics,
As Department Chair, I am excited to be sending you the first edition of our biannual newsletter. These newsletters will tell you more about the research, teaching and professional successes of our faculty, students and staff.
We also hope that these newsletters will inspire you to get involved with the department. We hold events which you are welcome to attend. You can also directly assist our students. One way is through our Economic Leadership Council affiliate program. More than 20 young alumni who have gone into all types of careers provide mentoring and career advice to undergraduates, in cooperation with our departmental careers specialist and our advisors. I am always inspired by the stories I hear from this group. Below we list various funds that help support our students.
I hope you enjoy the newsletter. If you want to help please reach out to the contact email at the bottom, or you can contact me at atsweet@umd.edu.
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Andrew Sweeting
Chair and Professor
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Join Us at the REStud North America Tour | |
REStud North America Tour
November 1, 2024, 9:00am-5:30pm
The REStud Tour has been held in European universities annually in May since 1989. Some of the most promising graduating doctoral students in economics and finance in the world are selected to present their research to audiences at economics departments or institutes across Europe. The Review of Economic Studies began sponsoring a tour of North American universities in 2021.
This year we will be one of the three host institutions. Our leg of the tour will take place on Friday, November 1, 2024 in our downtown DC location (1400 16th Street, NW DC). It will be a conference with all five talks taking place on that day.
This year’s tourists will be Anaïs Fabre (TSE), Hugo Reichardt (LSE), Milan Quentel (UPF), Morgane Richard (UCL) and Paul-Henri Moisson (TSE).
See you there!
For any questions, please contact econoffice@umd.edu.
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Promotions and New Appointments | |
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Nolan Pope
Associate Professor
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Pablo Ottonello
Associate Professor
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Daniel Agness
Assistant Professor
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Will Witheridge
Assistant Professor
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Estimating the Effects of Political Pressure on the Fed
In a recent NBER working paper, Assistant Professor Thomas Drechsel studies the economic consequences of political pressure on the Federal Reserve. From archival records, Drechsel collected data on personal interactions between former US Presidents and Fed Officials from 1933 to 2016. Combining this novel data source with an identification strategy, the paper finds that political pressure leads to an increase in inflation, in particular by raising inflation expectations, while having little impact on real economic activity. Drechsel’s research has been reported on by the Financial Times, Bloomberg, CNBC and Politico.
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The Influence of Racial Issues on Political and Public Institutions in the U.S.
William LeRoy is an applied microeconomist PhD student with an emphasis on political economy, economic history, and public economics. His job market paper explores how pro-segregation media amplified regional partisan realignment in the 1960s. In an additional working paper, LeRoy analyzes the mechanisms responsible for rising black voter registration rates in the 1960s. He sheds light on the formation of contemporary regional voting patterns and political participation by race. LeRoy is currently processing historic black media data for future research on various political and public institutions.
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Black, Hispanic, and Native American scholars, along with women of all races and ethnicities, are underrepresented in Economics. In recognition of these longstanding patterns, UMD’s Department of Economics created the Promoting Achievement and Diversity in Economics (PADE) Program in 2016. The program recruits academically-talented, yet underrepresented, undergraduate economics majors. PADE provides these students with mentoring, academic support, and professional development opportunities. With support from the National Science Foundation and UMD’s Catalyst Fund, PADE has launched a partnership with Prince George’s Community College, a Minority Serving Institutions, to facilitate the participation and success of transfer students in their economics training. PADE also welcomed two pre-doctoral trainees to campus in August. These scholars will spend one year conducting research with faculty and expect to enter UMD’s PhD program in 2025. Learn more. | |
Undergraduate Program Highlights | |
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Economics Minor Added!
We are thrilled to now be able to offer an Economics Minor to all undergraduate students. The first official semester of the minor is Fall 2024, and we already have 32 students declared. The most popular companion major is Computer Science, followed closely by Mathematics & Statistics and Finance.
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Drop-In Tutoring Center
The Department of Economics piloted an Undergraduate Drop-in Tutoring Center during the Fall 2023 and Spring 2024 semesters. Our tutors assisted more than 100 students through more than 600 unique visits. The Tutoring Center is staffed by a mixture of Undergraduate and Graduate TAs. If you would like to help the Department continue to fund effort, please consider donating to the Economics Undergraduate Fund.
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Master's Program Highlights | |
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Department Launches an Online Version of the MS Program in Applied Economics
The department is now accepting applications for an online version of its MS in Applied Economics program. In-person versions of the 10-course program have been offered in DC since 2012, and in College Park since 2016. Students in the new online version of the program will be required to take proctored in-person final exams in the initial 4 core courses. All other program requirements can be completed remotely.
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New Partnerships with World Bank, IMF, and IDB Staff Associations
Our department's MS program has established new partnerships with the staff associations of the World Bank, International Monetary Fund, and Inter-American Development Bank. The staff associations are promoting our program to their members, who can now enjoy a 15% tuition discount if they enroll. The first new student to apply after outreach from one of the staff associations is a Senior Financial Sector Specialist at the IMF, and will begin our MS program in DC this fall.
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John C. Haltiwanger named a 2024 Distinguished Fellow of the American Economic Association
John Haltiwanger, Distinguished University Professor and Dudley and Louisa Dillard Professor of Economics, has been named a 2024 Distinguished Fellow of the American Economic Association. Haltiwanger's accomplishments as an economist, policy advisor, and mentor have left an indelible mark on the economics profession. At the same time, his dedication and service to the profession and the broader economic and policy community have left a lasting legacy. For these reasons and more, John Haltiwanger has been recognized as a Distinguished Fellow of the American Economic Association.
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Katharine Abraham elected President-Elect of the American Economic Association
Katharine Abraham, Distinguished University Professor of Economics and Survey Methodology, has been elected to the position of President-Elect of the American Economic Association. Her term as President-Elect will begin in January and she is in line to be the President of the Association in 2026.
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Jessica Goldberg received the Do Good Innovator Award
Jessica Goldberg, Professor of Economics, has received DO GOOD INNOVATOR AWARD from the Do Good Institute, in partnership with the Office of the Provost. With PADE (Promoting Achievement and Diversity in Economics) Jessica has created an annual mentored cohort of young scholars who receive support to apply to selective ECON PhD programs. Her efforts have also made visible to all of her colleagues the many challenges and obstacles that students encounter along their academic journeys that are not related to aptitude or hard work, but rather structural or economic obstacles.
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John Straub Awarded the 2024 BSOS Excellence in Advising and Administration Award
Dr. John Straub, executive director of our MS programs, has been awarded the 2024 BSOS Excellence in Advising and Administration Award, reflecting the critical contributions that he has made to our department and its students.
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Alumni and Student Highlights | |
Mario Leccese received his Ph.D. in Economics from Maryland in 2024. He is now a tenure-track Assistant Professor of Strategy and Innovation and the Questrom School of Business at Boston University. His research includes both theoretical and empirical work and considers a wide range of topics including recent patterns of mergers and acquisitions in the high tech sector in the US, and the impact on startups of receiving financing from a venture capitalist who is also funding a rival startup in the same industry. He already has five published or forthcoming articles in refereed journals, including the Journal of Industrial Economics, International Journal of Industrial Organization, and he has five additional working papers in the publication pipeline. Mario is off to a great start in his academic career and we wish him great success! | | |
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"So far, my experience in the Economics department has been exceptional. Beyond the engaging classes, the department has been incredibly supportive in practical ways as well. Resume workshops and the ECON comparative advantage events equipped me with the confidence and skills to secure my internship with the Maryland Democratic Party. While the opportunities the department has opened for me are invaluable, my favorite aspect of the department is the people—whether it's the faculty who relate course material to real-world scenarios or my classmates who constantly inspire me to improve. I’m proud to be part of the ECON community."
-Ana Paz
| Ana (on the right) and Dr. Moody at the Fall 2024 ECON Networking and Career Fair. | | |
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Roger Betancourt
1943-2024
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