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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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Brian Duncan Mei-Chu Hsiao Steve Medema Naci Mocan Dan Rees Dr. Smith Buhong Zheng
Laura Argys
Steve BeckmanChair
Department of Economics
Department SummaryDepartment SummaryDepartment SummaryDepartment Summary
6 Full Professors
3 Associate Professors
17 Lecturers / Honoraria
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Brian Duncan Mei-Chu Hsiao Steve Medema Naci Mocan Dan Rees Dr. Smith Buhong Zheng
Laura Argys
Steve BeckmanChair
Department of Economics
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
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Brian Duncan Mei-Chu Hsiao Steve Medema Naci Mocan Dan Rees Dr. Smith Buhong Zheng
Laura Argys
Steve BeckmanChair
Department of Economics
Potential Areas of ExpansionPotential Areas of ExpansionPotential Areas of ExpansionPotential Areas of Expansion
Health Economics
Macroeconomic Theory
Industrial Organization / Game Theory
Economic Growth
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Brian Duncan Mei-Chu Hsiao Steve Medema Naci Mocan Dan Rees Dr. Smith Buhong Zheng
Laura Argys
Steve BeckmanChair
Department of Economics
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
Steven G. Medema, 1992
Laura Argys, 1998
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Brian Duncan Mei-Chu Hsiao Steve Medema Naci Mocan Dan Rees Dr. Smith Buhong Zheng
Laura Argys
Steve BeckmanChair
Department of Economics
Recent CLAS Recent CLAS ResearchResearch Excellence Awards Excellence Awards Recent CLAS Recent CLAS ResearchResearch Excellence Awards Excellence Awards
Laura Argys, 2000
Steven G. Medema, 2001
Patrick Emerson, 2003
Naci H. Mocan, 2006
W. James Smith, 1992
Steven G. Medema, 1993
Naci H. Mocan, 1994
Buhong Zheng, 1997
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Brian Duncan Mei-Chu Hsiao Steve Medema Naci Mocan Dan Rees Dr. Smith Buhong Zheng
Laura Argys
Steve BeckmanChair
Department of Economics
Recent CLAS Recent CLAS ServiceService Excellence Awards Excellence AwardsRecent CLAS Recent CLAS ServiceService Excellence Awards Excellence Awards
W. James Smith, 1993
Mei Chu Hsiao, 1994
Laura Argys, 2002
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Department ChairDepartment Chair
Department of Economics
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
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Ph.D., University of Colorado, 1993
Research: Economic Demography, Labor Economic, and Public FinanceResearch: Economic Demography, Labor Economic, and Public Finance
Department of Economics
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
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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
Department of Economics
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
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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
Department of Economics
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
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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
Department of 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
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Department of Economics
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
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Graduate Advisor, Department of Economics
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)
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Department of Economics
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
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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)
Department of Economics
Buhong ZhengBuhong ZhengBuhong ZhengBuhong Zheng
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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
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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
Teaching & Enrollment
The Economics Degree (The Economics Degree (contcont.).)The Economics Degree (The Economics Degree (contcont.).)
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Teaching & Enrollment
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
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Continued strong growth in principle enrollment.
Grad enrollment stays strong despite Asian Crisis
Upper division enrollment is not keeping pace.
Teaching & Enrollment
Initial Analysis of EnrollmentInitial Analysis of EnrollmentInitial Analysis of EnrollmentInitial Analysis of Enrollment
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Teaching & 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
Upper DivisionLower Division Graduate
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Teaching & Enrollment
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
Upper DivisionLower Division Graduate
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Teaching & Enrollment
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
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Department of Economics
• 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
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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
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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
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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
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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.”
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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
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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:
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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
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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
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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
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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
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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.
Laura Argys, NIH, NICHD. 1999-2004, $79,639.
Steven Medema, Earhart Foundation. 2003, $14,555.
Laura Argys, NIH, NICHD. 2003-2007, $563,000.
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
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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).
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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
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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
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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
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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).
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The Department of EconomicsThe Department of EconomicsThe Department of EconomicsThe Department of Economics