the department of economics brian duncanmei-chu hsiaosteve medemanaci mocandan reesdr. smithbuhong...

The Department of EconomicsThe Department of EconomicsThe Department of EconomicsThe Department of Economics

Brian Duncan Mei-Chu Hsiao Steve Medema Naci Mocan Dan Rees Dr. Smith Buhong Zheng

Laura Argys

Steve BeckmanChair

Full Time FacultyFull Time FacultyFull Time FacultyFull Time Faculty

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Laura Argys

Steve BeckmanChair

Department of Economics

Department SummaryDepartment SummaryDepartment SummaryDepartment Summary

6 Full Professors

3 Associate Professors

17 Lecturers / Honoraria







Laura Argys

Steve BeckmanChair


Department Research StrengthsDepartment Research StrengthsDepartment Research StrengthsDepartment Research Strengths

Labor and Demography

Experimental Economics

Health Economics

History of Economic Thought

Development Economics

Inequality and Poverty

Economics of Crime

Law and Economics







Laura Argys

Steve BeckmanChair


Potential Areas of ExpansionPotential Areas of ExpansionPotential Areas of ExpansionPotential Areas of Expansion

Health Economics

Macroeconomic Theory

Industrial Organization / Game Theory

Economic Growth







Laura Argys

Steve BeckmanChair


Recent CLAS Recent CLAS TeachingTeaching Excellence Awards Excellence AwardsRecent CLAS Recent CLAS TeachingTeaching Excellence Awards Excellence Awards

Brian Duncan, 2004

Patrick Emerson, 2005

Steven G. Medema, 2006

W. James Smith, 1991


Laura Argys, 1998




Laura Argys

Steve BeckmanChair


Recent CLAS Recent CLAS ResearchResearch Excellence Awards Excellence Awards Recent CLAS Recent CLAS ResearchResearch Excellence Awards Excellence Awards

Laura Argys, 2000


Patrick Emerson, 2003

Naci H. Mocan, 2006



Naci H. Mocan, 1994

Buhong Zheng, 1997


Laura Argys

Steve BeckmanChair


Recent CLAS Recent CLAS ServiceService Excellence Awards Excellence AwardsRecent CLAS Recent CLAS ServiceService Excellence Awards Excellence Awards


Mei Chu Hsiao, 1994

Laura Argys, 2002

Department ChairDepartment Chair


Steven BeckmanSteven BeckmanSteven BeckmanSteven Beckman

Published in: J. of Econ. Behavior & Org. (3) Social Choice and Welfare (2) J. of Money Credit & Banking J. of Economic Education Research on Econ. Inequality (2) Southern Economic Journal International Rev. of Economics and Finance

Ph.D., University of California at Davis, 1982

Research: International Economics, Macroeconomics, and Monetary Economics

Research: International Economics, Macroeconomics, and Monetary Economics

Recent Conference Presentations: Workshop on Envy, Budapest, Hungary Economic Science Association Meetings, Tucson, Arizona

Ph.D., University of Colorado, 1993

Research: Economic Demography, Labor Economic, and Public FinanceResearch: Economic Demography, Labor Economic, and Public Finance


Laura ArgysLaura ArgysLaura ArgysLaura Argys

Recent Conference Presentations: Western Economic Association Annual Meetings Society of Labor Economists Annual Meetings Population Association of America Annual Meetings

Published in: American Economic Review (P&P) Southern Economic Journal Economic Inquiry J. of Human Resources J. of Population Economics Demography

Service Excellence Award, CLAS, 2002Research Excellence Award, CLAS, 2000Teaching Excellence Award, CLAS, 1998

Ph.D., University of California at Santa Barbara, 1998

Research: Public Economics, Philanthropy, Immigration, Foster Care and Adoption

Research: Public Economics, Philanthropy, Immigration, Foster Care and Adoption


Brian DuncanBrian DuncanBrian DuncanBrian Duncan

Recent Conference Presentations: Western Economic Association Annual Meetings, San Diego Society of Labor Economists Annual Meetings, San Antonio American Economic Association Annual Meeting, San Diego

Published in: J. of Public Economics (2) Public Choice Southern Economic Journal Public Finance Review American J. of Epidemiology

Graduate AdvisorTeaching Excellence Award, CLAS, 2004

Ph.D., University of Rochester, 1967

Research: Econometric analysis of time-series and panel data, trade strategies, comparative economic development and growth of East and Southeast Asia

Research: Econometric analysis of time-series and panel data, trade strategies, comparative economic development and growth of East and Southeast Asia


Mei-chu HsiaoMei-chu HsiaoMei-chu HsiaoMei-chu Hsiao

Recent Conference Presentations: International Conference on Korea and the World Economy. Conference on Challenges and Opportunities in the Triangular Relations among the U.S., China, and Taiwan, New York

Excellence in Service Award, CLAS, 1994

Published in: World Development Review of Development Economics J. of Asian Economics (2) J. of the Asian Pacific Economy J. of Economic Development

Ph.D., Michigan State University, 1989

Research: History of Economic Thought, Law and Economics, Public Economics

Research: History of Economic Thought, Law and Economics, Public Economics


Steve MedemaSteve MedemaSteve MedemaSteve Medema

Recent Conference Presentations: Keynote Address, AISPE, Padova, Italy History of Economics Society Annual Meeting, Grinnell College Conference Organizer, The Economic Role of Government in the History of Economic Thought, Duke University

Journal of the History of Economic Thought, EditorUndergraduate Advisor

Published in: History of Political Economy (7) Economics and Philosophy Journal of Public Economics Am. J. of Econ. & Sociology (2) Three books published by Princeton University Press


Ph.D., City University of New York, 1989

Research: The Impact of the Death Penalty, Guns and Juvenile Crime, Determinants of Corruption, Determinants of Organ Donation, Demand for Cigarettes for Juveniles with Mental Health Problems, Vengeance

Research: The Impact of the Death Penalty, Guns and Juvenile Crime, Determinants of Corruption, Determinants of Organ Donation, Demand for Cigarettes for Juveniles with Mental Health Problems, Vengeance

Listed in Top 1,000 Economists World (by Publications in 1990-2000)Research Associate, NBER

Placed RAs in Economic Ph.D. Programs.

Cornell, Brown, Rochester, Florida, UC-San Diego, UC-Santa Barbara, UNC-Chapel Hill, Rice

Naci MocanNaci MocanNaci MocanNaci Mocan

Published in: Economica J. of Law and Economics (3) Rev. of Econ. & Stats. (3) American Economic Review J. of Health Economics J. of Population Economics

Graduate Advisor, Department of Economics


Ph.D., Cornell University, 1992Research: Labor Economics, Health Economics, and Economics of Education

Research: Labor Economics, Health Economics, and Economics of Education

Daniel ReesDaniel ReesDaniel ReesDaniel Rees

Published in: Economic Inquiry (2) American J. of Epidemiology Rev. of Econ. & Stats. (2) American J. of Public Heath J. of Health Economics Economics of Education Review (5) Labor Relations Review (2)


Ph.D., University of Colorado, 1976

Research: Monetary Economics, Public Finance, Income Inequality, Poverty

Research: Monetary Economics, Public Finance, Income Inequality, Poverty

James SmithJames SmithJames SmithJames Smith

Published in: Social Choice and Welfare Economics Letters Applies Economics J. of Business Economics & Stats Southern Economic J. American Economic Review

Former Dean, CLASTeaching Excellence Award, CLAS, 1991Research Excellence Award, CLAS, 1992 Service Excellence Award, CLAS, 1993

Ph.D., West Virginia University, 1993

Research: Income Distributions and Welfare Economics, Statistical MethodsResearch: Income Distributions and Welfare Economics, Statistical Methods

Recent Conference Presentations: UN-WIDER Conference on Advancing Health Equity, Helsinki, Finland

Social Choice and Welfare, Co-Editor

Published in: Economic Theory Social Choice and Welfare (4) Econometrica (2) Journal of Economic Theory Journal of Econometrics Research on Economic Inequality (3)


Buhong ZhengBuhong ZhengBuhong ZhengBuhong Zheng

Economics is the scientific study of decision-making.

Economics is an invaluable component of any liberal arts education, not to mention an indispensable tool for making sense of the intricacies of the modern world.

It is also excellent preparation for a future in business, as well as for graduate studies in law, public policy, and international studies. (Princeton Review)

Teaching & Enrollment

TeachingTeachingTeachingTeaching

Starting Salaries (2004 NACE Survey)

Undergraduate Major Annual Salary

Electrical engineering $51,372

Economics/Finance $40,906

Business administration $38,188

Political science $32,999

Psychology $27,791


The Economics Degree (The Economics Degree (contcont.).)The Economics Degree (The Economics Degree (contcont.).)


Enrollment PatternsEnrollment PatternsEnrollment PatternsEnrollment Patterns

0

100200

300

400500

600

700800

900

Fall 02 Fall 03 Fall 04 Fall 05 Fall 06

Sea

t C

oun

t

Fall Economics EnrollmentsFall Economics Enrollments

Upper DivisionLower Division Graduate

Continued strong growth in principle enrollment.

Grad enrollment stays strong despite Asian Crisis

Upper division enrollment is not keeping pace.


Initial Analysis of EnrollmentInitial Analysis of EnrollmentInitial Analysis of EnrollmentInitial Analysis of Enrollment


Teaching PatternsTeaching PatternsTeaching PatternsTeaching Patterns

0

20

40

60

80

100

120

Fall 02 Fall 03 Fall 04 Fall 05 Fall 06

% o

f S

tud

ents

Teaching by Tenure Track FacultyTeaching by Tenure Track Faculty



Teaching Patterns (Teaching Patterns (contcont.).)Teaching Patterns (Teaching Patterns (contcont.).)

2.7

2.9

3.1

3.3

3.5

3.7

Fall 02 Fall 03 Fall 04 Fall 05

Inst

ruct

or R

atin

g

Teaching EvaluationsTeaching Evaluations



Teaching Patterns (Teaching Patterns (contcont.).)Teaching Patterns (Teaching Patterns (contcont.).)

2.5

2.7

2.9

3.1

3.3

3.5

3.7

3.9

Fall 02 Fall 03 Fall 04 Fall 05

Inst

ruct

or R

atin

g

Tenured vs. Adjunct RatingsTenured vs. Adjunct Ratings

Lower AdjLower TT Upper TT Upper Adj


• Tenure track faculty do a fantastic job at all levels.

• Ratings in principles for adjuncts have risen.(New instructor positions have helped)

• Our challenge is staffing upper division courses. (This requires a specific skill set)

• We are no longer able to staff grad courses with only tenure track faculty.

More Enrollment AnalysisMore Enrollment AnalysisMore Enrollment AnalysisMore Enrollment Analysis

Revamped the Master’s program in 2001. Heavy emphasis on applied econometrics. Two semesters of econometrics. Applied seminar / Capstone research seminar.

Admit 30+ students per year. Foreign students / Domestic students. Working students.

Terminal MA degree / Prepare for Ph.D. program. AEA Summer Minority Program.

The dual degree program (Economics and Finance).

Master’s Program

The Master’s ProgramThe Master’s ProgramThe Master’s ProgramThe Master’s Program

State & Federal Government: Banks / Financial Institutions:

Master’s Program

Recent Employment OutcomesRecent Employment OutcomesRecent Employment OutcomesRecent Employment Outcomes

Wells Fargo INVESCO Funds Group (2) Citibank First National Bank Aurora Loan Services Evergreen National Bank Great-West Life SBER BANK

Dept of Housing and Urban Dev. (2) Dept of the Interior U.S. Department of Labor United States Bankruptcy Court US AID

CO State Governors Office CO Dept of Health Care Policy (5) CO Dept. Labor and Employment

Arapahoe Community College Northwestern University Georgia State University UCD Accounting Office

Private Sector: International:

Master’s Program

Recent Employment Outcomes (Recent Employment Outcomes (cont.cont.))Recent Employment Outcomes (Recent Employment Outcomes (cont.cont.))

Kaiser

Sprint

CB Richard Ellis

Coca-Cola Co.

BBC Research & Consulting

FENIX Consulting

Integrated Utilities Group

The Piton Foundation

Walter Scott & Partners

Bank of Mongolia

Capital Market Board of Turkey

Central Bank of Turkey

Indonesian Ministry of Finance

Ministry of Nat. Resources and the Envt.

Ministry of Planning

Ministry of Social Protection

National Planning Department

The Bank of Korea

Master’s Program

Comments from Former Student Survey Comments from Former Student Survey Comments from Former Student Survey Comments from Former Student Survey

What Our Job Market Students are Saying:“I would not have this job had I not attended USDHSC for my Masters degree.”

“All the faculty members engage in active research and they are always available.”

“The faculty are friendly and willing to spend a lot of time working with the graduate students.”

“I believe that there isn't a faculty member in the Economics department at UCDHSC that isn't committed to the success of the students in the program.”

“Being able to use statistical software has given me an advantage.” “I liked and enjoyed the program... and Colorado... I think I benefited a lot.”

“While I wasn't necessarily the top of the class in all my classes and struggled with several of them, the faculty were always supportive and available to answer questions to help students succeed and stay motivated.”

Arizona State University

Brown University (3)

Cornell University (6)

Bonn University (2)

Michigan State University

Ohio State University

Rice

Rochester

Syracuse University (2)

West Virginia University (3)

DU Law School / Columbia Law

U. of Chicago Law School

U. of California, Santa Barbara (2)

U. of California, Davis

U. of Colorado, Boulder (5)

U. of Florida (2)

U. of Arizona

U. of North Carolina at Chapel Hill (2)

U. of California, San Diego

U. of North Carolina, Greensboro

U. of Texas - Austin

U. of Virginia (2)

U. of Washington

Harvard (2)

Master’s Program

Recent Acceptances to Ph.D. ProgramsRecent Acceptances to Ph.D. ProgramsRecent Acceptances to Ph.D. ProgramsRecent Acceptances to Ph.D. Programs

Master’s Program

Comments from Former Student SurveyComments from Former Student SurveyComments from Former Student SurveyComments from Former Student Survey

“Being an RA was a huge head start for doing research.”

“I was able to work closely with faculty on research projects. This has helped me to immediately jump into research with faculty in my PhD programs.”

“Working as an RA for Prof. Mocan helped me a lot.”

“I was not thinking of pursuing Ph.D. at the time I entreated the program. By the time I finished, I was very passionate about economics and wanted to study further. The program helped shape my future significantly.” “The MA in Economics is what helped me in gaining access to PhD program.” “Earning my MA at UCDHSC was very beneficial for preparing me for the PhD program.”

“Small programs like this don't often have researchers of this caliber.”

What our Ph.D. bound students are saying:

Argys, Laura, Daniel Rees, Susan Averett, and Benjama Witoonchart. 2006. “Birth Order and Risky Adolescent Behavior.” Economic Inquiry.

Naci Mocan and Erdal Tekin. Forthcoming “Guns and Juvenile Crime.” Journal of Law and Economics.

Naci Mocan and Kaj Gittings. 2003. “Getting Off Death Row: Commuted Sentences and the Deterrent Effect of Capital Punishment.” J. of Law and Econ.

Naci Mocan and Erdal Tekin. 2003. "Nonprofit Sector and Part-Time Work: An Analysis of Employer-Employee Matched Data of Child Care Workers.” The Review of Economics and Statistics.

Rees, Daniel, Elizabeth Lopez, Susan Averett, and Laura Argys. Forthcoming. “Birth Order and Participation in School Sports and Other Extracurricular Activities.” Economics of Education Review.

Rees, Daniel, Jeffrey Zax, and Joshua Herries. 2003. “Interdependence in Worker Productivity.” J. of Applied Econometrics.

Master’s Program

Examples of Published Work with StudentsExamples of Published Work with StudentsExamples of Published Work with StudentsExamples of Published Work with Students

Research and Grant

A small, but very productive, research-oriented department.

Every faculty member is actively doing research.

Diverse research interests.

Concentration in policy-oriented and applied research in health, education, welfare.

ResearchResearchResearchResearch

Research and Grant

Recent PublicationsRecent Publications Recent PublicationsRecent Publications

Papers in Top 10 Economics Journals*• American Economic Review (2)• Journal of Economic Theory

• History of Political Economy (6)

• Journal of Econometrics (3)

• Journal of Economic Behavior and

Organization (3)

• Journal of Health Economics (2)

Papers in Top Field Journals• Journal of Human Resources (3)

• Journal of Law and Economics (3)

• Journal of Population Economics (3)

• Journal of Public Economics (3)

• Social Choice and Welfare (5)

Editorship

• Journal of the History of Economic Thought

* Tombazos (2005), European Economic Review, 49:2, pp. 251-77.

• Econometrica (2)• Review of Economics and Statistics (5)

• Social Choice and Welfare

American Journal of Public Health (2)American Journal of Economics and Sociology (2)American Journal of Epidemiology (1)Demography (2)Economics and Philosophy (1) International Journal of Forecasting (1)Industrial Relations (1)Journal of Drug Issues (2) Journal of Interdisciplinary Economics (1)Journal of Legal Studies (1) Journal of Policy Analysis and Management(1)Phi Delta Kappan (2)Public Choice (2)Tennessee Law Review (1)Transfusion (1)World Development (2)

Research and Grant

Interdisciplinary Work by Faculty Interdisciplinary Work by Faculty Interdisciplinary Work by Faculty Interdisciplinary Work by Faculty

Naci Mocan, Carnegie Corporation of New York, Smith-Richardson Foundation, Pew Foundation, and Packard Foundation. 1992-1994, $1,000,000.

Laura Argys, NIH, NICHD. 1993-1998, $176,773.

Naci Mocan, CO Dept. of Transportation. 1998-1999, $107,237.


Steven Medema, Earhart Foundation. 2003, $14,555.


Laura Argys and Daniel I. Rees, NIH, NICHD. 2004-2006. $142,000.

Naci Mocan, CO Dept. of Transportation, 2004-2007, $71,271.

Steven Medema, Earhart Foundation. 2005, $19,000.

Steven Medema, National Endowment for the Humanities. 2005, $5,000.

Brian Duncan and Laura Argys, NIH, NICHD. 2005 – 2007, $142,000.

Recent Grants and ContractsRecent Grants and ContractsRecent Grants and ContractsRecent Grants and Contracts

Research and Grant

Conferences, Seminars, Keynote Speeches.

Media (domestic and international) Coverage of Research.• Fox News, Today Show, CBS News, Washington Post, Atlanta Journal- Constitution, Business Week, San Francisco Chronicle, TriCity Herald, Bild (GER), Sydsvenskan (SWE), Corriera Della Sera (ITA), Sabah, Milliyet, Posta (TUR), and the Denver Post and Rocky Mountain News.

• Radio interviews from Australia to Ireland.

The department seminar series.

Writing referee reports.

Other Research ActivitiesOther Research ActivitiesOther Research ActivitiesOther Research Activities

Research and Grant

• In the U.S., and in Canada, Spain, England, France, Taiwan, Hong Kong Turkey, Portugal, Finland, Colombia, Japan, Korea, Thailand, Malaysia.

• United Nations, World Bank & World Health Organization

• Over 60 each year.

• 26 seminars over past two years (19 outside speakers).

Harvard U

UCLA

U Chicago

MIT

Stanford U

U California - Berkeley

U North Carolina - Chapel Hill

U Michigan - Ann Arbor

Yale U

Cornell U

USA

USA

USA

USA

USA

USA

USA

USA

USA

USA

1

2

3

4

5

6

7

8

9

10

U Wisconsin - Madison

Columbia U

U Maryland - College Park

Dartmouth College

U Pennsylvania

Indian Statistical Institute

U Essex

Northwestern U

U Toronto

Princeton U

USA

USA

USA

USA

USA

India

UK

USA

CAN

USA

11

12

13

14

15

16

17

18

19

20

Source: Department rank in JEL categories Labor and Demographic Economics, and Health, Education and Welfare.

Research and Grant

Department Ranking-Labor, Health, Education, WelfareDepartment Ranking-Labor, Health, Education, WelfareDepartment Ranking-Labor, Health, Education, WelfareDepartment Ranking-Labor, Health, Education, Welfare

Top 20 Ranked Economic DepartmentsTop 20 Ranked Economic Departments

London School of Economics

U Washington

Washington U St Louis

Duke U

Chinese U Hong Kong

U North Carolina - Greensboro

Ohio State U

U Laval

U British Columbia

Johns Hopkins U

Georgetown U

U Minnesota

UK

USA

USA

USA

China

USA

USA

CAN

CAN

USA

USA

USA

30

31

32

33

34

35

36

37

38

39

40

41

Indiana-Purdue University

Boston College

U Colorado - Denver

Penn State U

U Bristol

U Texas - Austin

U New South Wales

Carnegie Mellon U

U Rochester

U York

Oxford U

U California - Santa Barbara

USA

USA

USA

USA

UK

USA

AUS

USA

USA

UK

UK

USA

42

43

44

45

46

47

48

49

50

51

52

53

Source: Department rank in JEL categories Labor and Demographic Economics, and Health, Education and Welfare.

Research and Grant

Department Ranking-Labor, Health, Education, WelfareDepartment Ranking-Labor, Health, Education, WelfareDepartment Ranking-Labor, Health, Education, WelfareDepartment Ranking-Labor, Health, Education, Welfare

Economic Departments Ranked 30-53Economic Departments Ranked 30-53

Maintain our national prominence in:

Scholarly research.

The quality of our Masters program.

Strengthen our research capabilities.

Strategic hires in Health/Macro/Growth/Development.

Retain our core faculty.

Continue to expand our external funding.

Build on our interdisciplinary research record.

(Institute for Public Policy & Decision Analysis)

Vision

VisionVisionVisionVision

Vision

Strengthen our Graduate program through: New interdisciplinary dual degree programs.

MA Econ / MA Stats.

MA Econ / Ph.D. Stats. MA Econ / MPA (Public Admin.).

New BA-Econ / BS-Finance Degree.

New interdisciplinary MA (Decision Analysis).

Strengthen our Undergraduate program through:

A signature undergraduate degree program.

School of Public Health.

Vision (Vision (contcont.).)Vision (Vision (contcont.).)

New Ph.D. (Applied Statistics).

The Department of EconomicsThe Department of EconomicsThe Department of EconomicsThe Department of Economics

the department of economics brian duncanmei-chu hsiaosteve medemanaci mocandan reesdr. smithbuhong...

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