Economics

On Thursday, February 12 at 4:00 p.m., Peter Blair Henry, Dean of New York University’s Stern School of Business, will present the Social Sciences Forum “Data and Discipline: Sampling the Science of Economic Turnaround.” The event will be held in the Albin O. Kuhn Library Gallery. The mathematical underpinnings of the “dismal science” can yield surprising results with the power to impact millions of lives around the globe. Using examples from his book, Turnaround: Third World Lessons for First World Growth, Peter Blair Henry discusses how scientific analysis of economic policy experiments can determine which policies, implemented under what conditions, create… Continue Reading Social Sciences Forum: Data and Discipline: Sampling the Science of Economic Turnaround (2/12)

As the discussion continues surrounding a potential new stadium for the Buffalo Bills, an article published January 24 in The Buffalo News examines the possible economic impact of a major sports and entertainment district in the city’s downtown. Economics Professor Dennis Coates was interviewed for the article and shared that new stadiums don’t necessarily generate job growth and economic development: “If the argument is being put forward that there’s going to be ancillary benefits and job growth discount all of that completely. There’s no evidence that they ever happen,” said Coates. “What I and many others have found is that using stadiums… Continue Reading Dennis Coates, Economics, in The Buffalo News

UMBC has become the latest university to be welcomed into the Chartered Financial Analyst (CFA) Institute University Recognition Program. The B.S. in Financial Economics program has been acknowledged as incorporating at least 70 percent of the CFA Program Candidate Body of Knowledge (CBOK), which provides students with a solid grounding in the CBOK and positions them well to sit for the CFA exams. This program sets up students well to obtain the CFA designation, which has become the most respected and recognized investment credential in the world. Entry into the CFA Institute University Recognition Program signals to potential students, employers,… Continue Reading UMBC Welcomed Into CFA Institute University Recognition Program

An article published December 16 by the Pew Research Center examines the relationship between lower gas prices and consumer confidence in the economy. The article cites research by Douglas Lamdin, professor of economics, and Mark Johnson, a professor at Loyola University Maryland. Their research found a negative relationship between changes in gas prices and their impact on consumer sentiment. The excerpt from the Pew Research Center article can be found below: “[The Pew Research Center] plotted the monthly consumer-sentiment index against the monthly average price of regular gas (adjusted for inflation) and found a moderately strong negative correlation — that… Continue Reading Douglas Lamdin, Economics, in Pew Research Center News

In a recent article published in Capital New York, Economics Professor Dennis Coates discussed the economic impact of Brooklyn’s Barclays Center, home to the New Jersey Nets. The article described how businesses within and immediately surrounding Barclays have been benefiting from the Nets recent move from North Jersey to Brooklyn, but Coates described how it’s unclear that the arena’s impact on business is a sign of economic growth. “Did people not eat dinner before the Barclays Center?” said Coates. “Did they not go out to restaurants before the Barclays Center? They did, just not there.” He added, “if the eating and… Continue Reading Dennis Coates, Economics, in Capital New York

Baltimore’s City Paper published an article on November 25 that examined the city’s current public construction boom, which by some estimates may exceed $10 billion, comparable to what was spent nationally by the Works Progress Administration during the Great Depression. Economics Professor Dennis Coates was interviewed for the article and explained that the public projects would likely increase the local economic growth rate by close to 15 percent. “It is certainly a construction jobs program, and I would contend it will affect growth positively, though precisely how much, especially in the short term, is questionable,” he said. “Avoiding broken water mains and the… Continue Reading Dennis Coates, Economics, in City Paper

Economics Professor Dennis Coates participated in a panel at Heinz College Washington, D.C., Carnegie Mellon University, on the complex business of bidding for large scale events such as the Olympics. Coates has done extensive research on public choice, public finance, and sports economics. Other panelists included Ngiste Abebe, Co-author, Bidding for Development, Trina Bolton, Co-author, Bidding for Development, and Chris Watts, Managing Director, 4POINT4. The event took place on Thursday, November 13 in Washington, D.C. and the description can be found below: “This panel will explore the complex business of bidding for mega-events. The panelists will weigh a city’s potential for long-term strategic… Continue Reading Dennis Coates, Economics, Participates in Heinz College Carnegie Mellon University Panel: “Olympic Opportunity: Going for the Gold or Spending in the Red?”