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Welcome to the spring edition of our Department Newsletter!
Dear alumni, faculty, students and friends of UMD’s Department of Economics,
Welcome to the second edition of our newsletter! Thank you for the responses to the first edition, and we hope that that this one will also provide ideas for how you can engage and support us. You can send feedback to me at atsweet@umd.edu.
Let me highlight a couple of upcoming events.
March 5 is Maryland Giving Day! As alumni will know, this is a great day to support department initiatives. In this newsletter you will see links to the undergraduate, graduate and general use funds that we are highlighting this year. I can promise you that all donations go directly into supporting the quality of our programs, and that many valuable initiatives are simply impossible without your support.
On March 12, we will be hosting our fourth Moskowitz Lecture. Matthew Gentzkow will speak on the political economy effects of social media. These lectures are an opportunity for all of our students, faculty, and friends to hear from the very best economic researchers on topical subjects. Indeed, our first Moskowitz speaker, Daron Acemoglu, was co-recipient of the 2024 Economics Nobel Prize. The talk will be followed by a reception, and all alumni and friends are welcome. Please email econ-seminars@umd.edu for details of the event.
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Andrew Sweeting
Chair and Professor
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Join us on #GivingDayUMD: March 5, 2025
We know that there will be challenging years ahead for public universities. Please consider helping us weather these times!
Set a reminder to donate on March 5 here!
For any questions, please contact econoffice@umd.edu.
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Join us for our Fourth Moskowitz Lecture
Professor Matthew Gentzkow will be delivering our fourth Moskowitz Lecture to speak about the effects of social media on the political economy.
"Social Media and Social Good" Date: March 12, 2025
Location: Skinner Building, 0200
Time: 3:30-5:00pm
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Faculty and Student Highlights | | |
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Tax Evasion at the Top of the Income Distribution
In Tax Evasion at the Top of the Income Distribution (NBER Working Paper 28542), Professor Daniel Reck and his coauthors take a fresh look at who’s dodging taxes—and how. Traditional IRS audits suggest that tax evasion is more common among the bottom 99%, supporting the popular adage that “the poor evade, the rich avoid.” But when the authors factor in data from offshore crackdowns, business audits, and other targeted enforcement efforts, a different picture emerges. They find that sophisticated tax evasion—often undetected in standard audits—is actually widespread at the top. These estimates have sparked discussion in The New York Times, Bloomberg, Fortune, and other major outlets, The Wall Street Journal noting that “the very top sliver of high-income Americans may underreport their income at levels far beyond what was suggested by prior IRS research.”
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Congratulations to our Ph.D. Students
This time of year is especially big for our Ph.D. students wrapping up their studies—it’s when all their years of hard work finally pay off. We’re thrilled to share the success of Maranna Yoder, who has just landed a position as an assistant professor at Indiana University’s O’Neill School of Public and Environmental Affairs! Maranna’s research sits at the crossroads of health, environment, and education. Her job market paper tackled a fascinating question: does air pollution from diesel-powered school buses impact student performance? Using microdata from public schools in North Carolina and Texas, she found that test scores improved after districts retrofitted buses with emissions controls. Her success was made possible by crucial funding for data collection and conference travel, supported by the Sloan Foundation, the University, BSOS, and our department. At IU, she’ll continue her impactful work on issues like wildfire smoke and infant health, contraceptive and abortion policy, and expanding access to advanced middle school courses.
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ECON Undergraduate Team
Tackles the 2024 College Fed Challenge
The Economic Association of Maryland recently took on the 2024 College Fed Challenge, a competition that tasks students with mirroring the Federal Reserve’s policy meetings. The team members analyzed real-world economic conditions—from inflation and GDP to foreign and financial markets—and made policy recommendations as if they were the Fed itself.
Preparation was no small feat! The team spent the summer crafting mock presentations and diving deep into economic trends. As the fall competition neared, they fine-tuned their analysis to ensure their recommendations reflected the latest data. With guidance from Professor Lumi Stevens, they sharpened their understanding of economic policy and put their classroom knowledge into action.
The experience was both intense and rewarding, and the team, with new members, is already gearing up for another run in Fall 2025.
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Shaping a Brighter Future, Fearlessly Forward | |
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ECON's home college (BSOS) has unveiled an ambitious strategic plan that reaffirms its commitment to tackling the world's most pressing challenges. With UMD having over a century of groundbreaking contributions in the social sciences, BSOS continues to Be the Solution, advancing understanding and innovation in the behavioral and social sciences.
This bold vision centers on three priorities: Innovating Teaching and Learning, Advancing Research and Scholarship, and Building Partnerships. These pillars are supported by cross-cutting themes of diversity, equity, inclusion, and support for the people who drive BSOS's mission forward.
In education, BSOS aims to transform student success by integrating cutting-edge methods and fostering equity in learning outcomes. For research, the focus is on world-class scholarship addressing critical issues such as climate change, mental health, and socioeconomic inequality. (For example, see Ethan Kaplan's prize-winning paper on how busing changed political views in Kentucky.) Partnerships—spanning academia, industry, and global organizations—will create synergies that amplify impact and expand opportunities for students and faculty alike. (Think you could add to an undergrad class by presenting a guest lecture? Contact our Director of Undergraduate Studies, Erin Moody.)
BSOS also commits to promoting diversity and empowering its community. By providing resources and fostering a culture of collaboration, BSOS will ensure that its people—faculty, staff, students, and alumni—are equipped to lead in a rapidly evolving world.
The Department of Economics is thrilled to contribute to this vision. Together, we’re building a healthier, more equitable future. Join us as we take these fearless strides forward!
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Our department wouldn’t survive without the dedication and hard work of our incredible staff. Vickie Fletcher, whom many of you know from her guidance through the administrative thickets of the Ph.D. program, has completed an incredible 45 years at UMD! Her commitment was recognized in 2023 with the Outstanding Staff Award for Service to Students. Also celebrating milestones at UMD are Wanda Hauser, with 30 years of expert work in finance and grants, and 10 years for Brian McLoughlin, who makes sure our IT runs smoothly. Heather Nalley was honored with the Exceptional Contribution Award, and Phylicia Nance received the Excellence in Advising and Administration Award—a testament to their dedication and impact.
We are grateful for all they do to keep our department thriving.
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Undergraduate Program Highlights | |
Data-driven Pedagogical Advances
Improving student success in the department’s undergraduate program is a top priority, especially helping those struggling in their early courses. With a TLTC Teaching Innovation grant entitled Using Learning Analytics to Improve Student Success in Economics, Erin Moody analyzed which students face the biggest challenges and where. Her findings pointed to ECON 200, a gateway course, as a key trouble spot. In response, she piloted a specifications grading system last fall, designed to make grading more transparent and aligned with learning goals. Stay tuned for results from the data analysis in the next newsletter!
Meanwhile, The Tutoring Center, now in its second year, remains a popular resource. Open 22 hours a week, Monday through Friday, it continues to support students navigating tough courses. Erin will soon be implementing more data analysis to measure its impact.
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Master's Program Highlights | | |
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Our M.S. in Applied Economics program just keeps growing! It’s now offered in three parallel versions: in College Park, downtown DC, and—new this year—online. We’re excited to have Filipe Lage, who joined last fall as the program director in College Park, where he’ll be working alongside Nicole Roussell, our new Program Coordinator. Meanwhile, longtime M.S. director John Straub is now leading the DC and online versions, and Professor Boragan Aruoba has stepped into the role of Executive Director for the entire program.
This spring, our undergrad and M.S. programs will jointly host placement and recruiting events, giving students a chance to connect with DC-area employers. In January, international graduates of the M.S. program now working in the DC area shared insights with current students on F1 visas, offering valuable advice and networking opportunities with alumni in international organizations and the private sector.
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