Name: Ahmed, Islam
Date: Spring 2014
Major(s): Economics
Thesis Committee: D. Goldstein, J. Golden
Title: Competition in Higher Education: A Case Study on Allegheny College
Abstract: Institutions of higher learning employ various management strategies in order to remain competitive within the market sector of higher education. These individual institutions are in constant pursuit of greater national prestige in order to deem themselves superior to their competition. This contest is inspired by the same reason businesses engage in competition—in order to maximize revenue—primarily by increasing tuition cost. Elite institutions of higher learning benefit from great advantages in contrast to lower tier institutions, for they are far more appealing to the prospective student. A highly ranked school enjoys the luxury of charging higher tuition and fees due to its ability to be selective in its application process. Elite schools are more nationally renowned and due to their popularity receive a far greater number of applicants each year compared to lower tier schools. In turn, this allows elite institutions to attract higher quality students as well as students who are willing to pay more for an esteemed education.
Based on the theories and research contained in this paper, institutions of higher learning such as Allegheny College that utilize an ethics-based management are successful in gaining national recognition, increasing their application pool, decreasing their acceptance rate, as well as charging higher tuition and fees to higher-quality students. Schools that fail to employ such a management strategy find themselves surpassed by the competition in national ranking reports on a yearly basis.
Name: Balster, Leanne
Date: Spring 2014
Major(s) Economics
Thesis Committee:
Title:
Abstract: Academic discourse regarding discrimination is generally segregated along disciplinary lines without fields cooperating in a grander discussion. This paper aims to analyze the precipitating factors and results of discriminatory behaviors inflicted upon African-Americans in the United States from both a literary and economic perspective. This interdisciplinary approach improves upon separate analyses by including the superior interpretive strategies from one perspective and filling in its gaps through interpretation from another point of view. The economic analysis will incorporate both Neoclassical Economics and Political Economy, analyzing the two schools of thought in their ability to model real-world observations as presented by Chester Himes’s 1945 novel If He Hollers Let Him Go. Both the text and theories succeed and fail in regards to different manifestations of discrimination, but building upon the strength of each can provide a fuller picture of discrimination as a multidimensional phenomena.
Name: Billingslea, Dominique
Date: Spring 2014
Major(s): Economics
Thesis Committee: S. Casler, J. Golden
Title: The Determinants of Childhood Obesity: Child, Parental, Social, and Regional Influences
Abstract: With a third of children classified as overweight or obese, the U.S. needs more innovative parenting strategies and governmental policies. This study examines the importance of child (exercise, sleep, hours of television, and religious attendance), parental (marital status, education, income, and weight), societal (family meals, ethnic diversity, families receiving SNAP benefits, Modified Retail Food Environment Index, and families living in safe neighborhoods), and regional (dummy variable for geographic location) characteristics on the likelihood of a child being overweight or obese. An analysis of consumer theory examines household consumption decisions based on a parental understanding of how to maximize long-term utility and avoid the negative consequences of poor nutrition and over-eating. The regression analysis, with a R2 value of 0.8203, quantifies the impacts of these variables, showing the rate of adult obesity, family meals, food retail environment, living in the South, child sleep, and perceived neighborhood safety are the most significant. These results conform to theory and correlate with past research. The evidence indicates that parents should modify their parenting strategies to focus on maintaining a healthy weight, encouraging their children to get more hours of sleep, and choosing a healthy place to live.
Name: Broderick, James
Date: Spring 2014
Major(s): Economics
Thesis Committee: D. Goldstein, J. Sickafuse
Title: Can Managers Use Price Discrimination Strategies to Increase Both Firm and Social Welfare?
Abstract: This paper examines the idea of using a strategy of price discrimination in the pharmaceutical industry in order to benefit both firms in the industry, and the relevant stakeholders that are affected as well. The research done includes several sources on price discrimination and how it relates to economic and social well-being, as well as a discussion of various business ethics philosophies. The empirical work done examines different factors, such as the taxes paid by countries on medicines, and how the industry reacts to various events, like research and development failures, and profit loss following patent expiration. Finally, a look is given at how life expectancies have risen globally, and how the pharmaceutical industry has played a pivotal role, as well as how they can improve the amount of help given by implementing price discriminating strategies. After looking at the literature and gathered data, it can be concluded that price discrimination certainly has strong potential to do good things for both pharmaceutical firms and the people that rely on them for their health needs.
Name: Cole, Patrick
Date: Spring 2014
Major(s): Economics
Thesis Committee: D. Goldstein, J. Sickafuse
Title: An Exploration of the Ethics of Paying Salaries to College Athletes
Abstract: Our nation’s obsession with young athletes has allowed intercollegiate sports to evolve into a multi–‐billion dollar industry, generating enormous revenues for some. However, due to an NCAA ban on any payment to athletes other than scholarships, the athletes are not among those who receive a portion of this revenue. As a result, debates about whether or not athletes should be paid salaries continually arise. This paper explores whether the current system of compensating NCAA Division I athletes strictly through scholarships is ethical, and if not, what type of fair compensation system could be pragmatically implemented. Distributive justice and utilitarianism principles are used as the centerpieces of the ethical investigation. Analyzing other authors’ research, the college athlete labor market, the profitability of individual institutions, and the economic value of college athletes provides an in–‐depth understanding of why this discussion holds great value. My findings from the literature review and the empirical data lead me to conclude that withholding revenues in excess of a scholarship from the athletes is an unethical practice. Therefore, I will propose a more ethical system under which collegiate athlete receive greater compensation.
Name: Colvin, Trevor
Date: Spring 2014
Major(s): Economics
Thesis Committee: S. Casler, T. Hodge
Title: Determinants of Employment Growth in the Healthcare Sector
Abstract: Healthcare is among the largest components of personal consumption and government expenditure in the United States today. This indicates that the demand for healthcare has increased greatly over the years. As a result, healthcare firms need to hire qualified employees to keep up with demand. This study examines the determinants of employment growth in the healthcare sector. Attention is given as to how healthcare employment growth has evolved over time in relation to business cycle phases, as defined by the National Bureau of Economic Research (NBER). This study also highlights various aspects of the healthcare system by investigating previous researchers’ works. The economic theory of cost minimization subject to producing a desired level of output is thoroughly discussed, since healthcare firms are constantly trying to cut costs while providing excellent care. A multiple regression analysis on the effects that various independent variables, derived from theory, have on healthcare employment growth is also conducted in this study. Findings include that 1) a major structural change occurred in 1990, which is explained by the growth rate of employment in the healthcare sector, 2) employment in the healthcare sector is likely to continue to grow, but not at the rates seen from 1968 to 1990, and 3) contractions have a negative impact on healthcare employment; however, this effect is not as recognizable in comparison to other recession prone sectors.
Name: Corbin, D’Andre
Date: Spring 2014
Major(s): Economics
Thesis Committee: J. Liu, A. Moskwa
Title: What is the Economic Impact of Hosting a Super Bowl
Abstract: The Super Bowl is the championship game in the National Football League. The locations of this game is predetermined years in advance and brings a huge influx of football fans and tourists to the city hosting the event. Economic studies have researched the impact of hosting such an event, but have analyzed all the economic factors. Using regression analysis I will study many different economic variables to better understand the impacts on the host city. I will be studying all Super Bowl host cities from 1991-2012. I will look at the GDP for all the metropolitan areas before hosting the Super Bowl and after, I will analyze the changes in population, the unemployment percentage, among other variables. The Super Bowl is a big event that could possibly generate a lot of money, jobs, as well as many other changes to the city hosting. However, there seems to be small economic profit that results for the host city. The NFL should not make the claim of huge generation of money for the host city when proposing the idea of hosting a Super Bowl.
Name: Day, Cameron
Date: Spring 2014
Major(s): Economics
Thesis Committee: S. Casler, A. Moskwa
Title: Characteristics of Investment in Equipment and Software 1968-2011
Abstract: The Super Bowl is the championship game in the National Football League. The locations of this game is predetermined years in advance and brings a huge influx of football fans and tourists to the city hosting the event. Economic studies have researched the impact of hosting such an event, but have analyzed all the economic factors. Using regression analysis I will study many different economic variables to better understand the impacts on the host city. I will be studying all Super Bowl host cities from 1991-2012. I will look at the GDP for all the metropolitan areas before hosting the Super Bowl and after, I will analyze the changes in population, the unemployment percentage, among other variables. The Super Bowl is a big event that could possibly generate a lot of money, jobs, as well as many other changes to the city hosting. However, there seems to be small economic profit that results for the host city. The NFL should not make the claim of huge generation of money for the host city when proposing the idea of hosting a Super Bowl.
Name: Decker, Kelli
Date: Spring 2014
Major(s): Economics
Thesis Committee: D. Goldstein, T. Hodge
Title: Just How Pro-Cyclical is the Beer Industry? A Case Study of the Mass Producing Beer Companies and The Boston Beer Company
Abstract: In recent years the beer industry has finally started taking off again after the aftermath of the Great Recession between 2007 and 2009. The two brewing industry giants, Anheuser-Busch InBev and MillerCoors have been losing market share due to the increase of smaller craft breweries, like that of the Boston Beer Company. Company strategies, financial data, and annual reports of each company were carefully examined to compare and contrast sales results from 1993-2012. By focusing on a product that is difficult of imitation and does well across all phases of the business cycle, Boston Beer Company has been able to see growth. To label them as countercyclical though is just too premature of an idea because craft beer has just recently taken off. They still may be able to grow throughout the period of growth the US economy seems to be getting back to again. The beer industry overall has shown not just signs of pro-cyclicality because sales increase as GDP increases, however, they also are able to grow during recessions at times that mergers occur, as shown throughout the Great Recession. I would argue this industry is more a-cyclical due to no consistent patterns of it being one way or the other in either company. This also leads me to the belief that craft companies are at risk for being a bubble, if they are not already. This study supports Michael Porter, Christensen, Piscitello, and Kaplan and Norton’s thoughts that in order to gain competitive advantage and probably see an increase of sales, a company must focus not only on operational effectiveness, as the giants do, but also on the customer’s and supplier’s insights, as a true balanced scoreboard study would require.
Name: Ekong, Nsikakabasi
Date: Spring 2014
Major(s): Economics
Thesis Committee: J. Liu, A. Moskwa
Title: Do Countries Rich in Natural Resources Tend To Have Faster Or Slower Economic Growth?
Abstract: Nigeria is the largest producer of oil in Africa, and the 6th largest producer of oil in the world. Unfortunately, its primary natural resource has not been effective in increasing its GDP, as it has remained almost constant for over 30 years, hence, placing Nigeria amongst one of the poorest nations in the world. Although Nigeria currently remains Africa’s largest producer of oil, one still asks the question if this natural resource is a curse or not. This question applies to other developing countries in Africa. Are natural resources good or bad for a country’s development? The purpose of this project was to evaluate the relationship between natural resources and the economic growth of developing countries. This question can be answered considering factors such as the index of economic freedom, which includes currency exchange rate, population, GDP (PPP), unemployment, inflation (CPI), FDI inflow, institutional setting, use, and types of natural resources that the countries have. The countries that were studied included: South Africa (ZAF), Egypt (EGY), Nigeria (NGA), Algeria (DZA), Morocco (MAR), Angola (AGO), Tunisia (TUN), Ethiopia (ETH), Sudan (SDN), Ghana (GHA), and Kenya (KEN). The empirical models employed in this study examined the correlation with countries and GDP growth over more than 30 years (1970-2012), as well as the health of natural resources in the country. From the results, we conclude that an increase in exports as a share of GDP is related to high GDP growth rate, and an increase in imports as a share of GDP is related to low GDP growth rate. It also shows that the exchange rate is not related to or does not affect the GDP growth rate of these countries rich in natural resources. This would seem to indicate that the exchange rate is not an important factor in predicting GDP growth rate. We show that in countries where resources are highly appropriable, as determined by both the type of resources and institutional quality resource abundance, is problematic, while in countries where resources are less appropriable, they can contribute to economic growth (Boschini, Pettersson, & Roine, 2007). This paper also described the theory of natural resource curse or Dutch disease, which can damage the growth process by crowding out export activities that otherwise have the potential to grow rapidly. Finally, looking at Nigeria as a case study and its primary natural resource (Oil), we analyze through this if natural resources hinder or improve economic growth. However, the Dutch disease explanation for the Nigerian economic performance was not found to be entirely satisfactory since the relative price movements did not favor the tradable sector even in the immediate aftermath of the oil windfalls. Also, relative price movements were not correlated with oil prices so that how oil windfalls were used rather than oil prices per se were more important in determining relative prices. While the agricultural sector declined, it was offset by an increase in the size of the government sector in economic activity with subsequent long-term economic decline.
Name: El-Sabeh, Jordan
Date: Spring 2014
Major(s): Economics
Thesis Committee: R. Ormiston, J. Golden
Title: Job-Hopping: How Frequent Job Mibility Affects Income
Abstract: This study will observe the effects of gross income to job-hopping. Job-hopping is defined as a worker experiencing frequent job moves to gain a higher income throughout their career. The consequences on one’s gross income with frequent job mobility has come under scrutiny in past decades, since the common goal of workers was to stay at one employer for most of their career, believing this helped increase wages and advance their career. In today’s job market, job-hopping is a new strategy used to decide if workers will collect higher wages when staying or leaving an employer. A regression comprised from the National Longitudinal Survey of Youth (NLSY) will be created to determine the effects of income with relation to job mobility of workers aged 26 to 32 in 2011. Although the relationship with job mobility and income is found to be negative, the significance to job-hopping is much greater than in previous decades.
Name: Etherington, Alexander
Date: Spring 2014
Major(s): Economics
Thesis Committee: J. Liu, S. Bilo
Title: Economic Impact of Hosting Mega Sporting Events
Abstract: Using data from 1960 to 2010, the empirical analysis examines the impact of mega games on the hosting country’s economy, controlling for socioeconomic and demographic variables. The results suggest that mega games have no statistically significant effects on a nation’s economic status. The following discussion section explores the influence of other factors, such as weather and culture, on the economy.
Name: Fung, Sara
Date: Spring 2014
Major(s): Economics
Thesis Committee: J. Liu, A. Baskan
Title: Evaluating the Successes and Failures of the 1996 PRWORA
Abstract: This paper evaluates the benefits, costs, and effects of The Personal Responsibility and Work Opportunity Act (PRWORA) of 1996. Investigating interstate variations in key welfare indicators, such as rates of caseload, poverty rate, education attainment, workforce participation, and children in single-parent families, this study identifies the impacts of PRWORA on families in need during the 1996-2012 period. There are a few main findings. First, while the reforms appeared effective in improving education attainment, majority of the states actually experienced a rise in poverty rates (40 out of 50 areas), and a decline in workforce participation (22 out of 50). Most shockingly, only one area succeeded in reducing the rate of single-parenthood. Second, regression results suggest that there were states where welfare programs actually increased poverty rates. The original goals of PRWORA were to offer temporary living assistance to low-income families. In practice, however, the enrollment in the program discourages active job search and fails to cut down long-term poverty rates.
Name: Gittens, Isaac
Date: Spring 2014
Major(s): Economics
Thesis Committee: S. Martin, A. Baskan
Title: Unintended Consequences of No Child Left Behind: Does NCLB Marginalize Equity for Lower Income Students in NJ: Based Upon Location
Abstract: No Child Left Behind (NCLB) was passed to combat the falling United States Educational Position in 2001. When it was passed it promised to not allow any child who attended an American public school to fall behind the rest of the world regardless of their social economic standing, race, gender, or ability; which would raise equity significantly for students attending the public school system. The government instituted a measure to test whether a school was succeeding in progressing the outcomes of its students during each academic year, Adequate Yearly Progress (AYP). The measure of AYP has come under increased scrutiny throughout the years because of the way it sanctions schools that are labeled as “failing” and the environments it creates within the schools. As recent as 2011, 48% of the nation’s schools have been considered to be failing according to the measure of AYP. If 48% of the nation is “failing” then exactly how has equity been raised for students who find themselves living within poverty. This paper examines whether the policy is meeting its goals of leaving No Child Left Behind with the statistical measure of AYP. To accomplish this a case study was undertaken of high schools in NJ and examined whether or not the location a school found itself in was significant in determining whether a school was going to meet AYP. Does No Child Left Behind marginalize/ harm equity for lower income students across the State of New Jersey, and does location play a factor in a schools ability to meet AYP? This paper analyzes equity of NJ high schools by looking at education production in regards to production theory and uses regression techniques to measure the effects of living within certain communities in a schools ability to meet AYP standards
Name: Hill, Zachary
Date: Spring 2014
Major(s): Economics
Thesis Committee: J. Liu, J. Golden
Title: Economic vs. Social Impacts of Commercial Casinos
Abstract: In the United States gambling and casinos are one of the biggest debated topics. While many people support them, just as many are against them. Gambling has been around for hundreds of years in many different forms, but in the last 50 years we have began to see casinos as a main source of revenue. Just recently has casinos started to become popular outside of Nevada and many states are following suite. In this paper we will try to determine what effect casinos would have on the county and whether or not they are good.
Name: Hogya, Tyler
Date: Spring 2014
Major(s): Economics
Thesis Committee: R. Ormiston, T. Hodge
Title: Gun Control: Does It Affect the Sales of Firearms in States?
Abstract: The purpose of this study to how individual state’s gun control laws affect gun sales in each state. In order to perform this study I focused on four particular gun control laws; permit to purchase, registration of firearms, licensing of owners, and permit to carry were the four main gun control laws that were examined for each state. I looked at historical data on these four laws for each state, to ensure each of them either stayed the same since 2005 through 2013, or to note any changes that have occurred in that time period. My dependent variable for this study was gun sales, which was based off FBI firearm-related background checks performed, which are necessary each time a purchase of a firearm is made. I also introduced a few control variables to this study to ensure the accuracy of my results while running the appropriate regressions. Four different sets of regressions were ran, each with background checks as the dependent variable. In the end, it was shown through the various regressions that these various gun control measures do affect the sales of firearms in states.
Name: Howser, Richard
Date: Spring 2014
Major(s): Economics
Thesis Committee: S. Martin, S. Bilo
Title:
Abstract: NONE PROVIDED
Name: Joshi, Gauri
Date: Spring 2014
Major(s): Economics
Thesis Committee: R. Ormiston, S. Bilo
Title: How Fast Fashion is affecting the Luxury Fashion Industry: A Case Study of Burgerry and Zara
Abstract: The life of luxury fashion brands has become more difficult since the rise of fast fashion brands. The Italian luxury fashion designer Giorgio Armani has said that, “Fast fashion is a growing reality in our sector” (Colavita and Keiser, 2005, p. xiii). Luxury fashion brands once dismissed the fast fashion brands as irrelevant to their high-end business. However their growing influence has been undeniable. The fast fashion brands have changed customer expectations concerning speed and variety and showing that style is possible at low prices. Even high-end customers have started to mix luxury fashion with fast fashion. The purpose of this study is to evaluate how fast fashion brands have affected luxury fashion brands. To do so, this project will focus on Burberry and Zara, to represent the luxury and fast fashion sector.
Name: Kauffman, John
Date: Spring 2014
Major(s): Economics
Thesis Committee: J. Liu, D. Goldstein
Title: Measuring Eligible Landowners’ Willingness to Enroll in the Conservation Reserve Program
Abstract: NONE PROVIDED
Name: Kelly, Edward
Date: Spring 2014
Major(s): Economics
Thesis Committee: S. Casler, D. Goldstein
Title: The Determinants of Employment in the Manufacturing and Service Sectors
Abstract: NONE PROVIDED
Name: Klensch, Zachary
Date: Spring 2014
Major(s): Economics
Thesis Committee: S. Casler, S. Bilo
Title: Evaluating the Determinants of Sectoral Shifts in the U.S. Economy
Abstract: Manufacturing and services are the two largest sectors of the U.S. Economy; in 2013, they accounted for over 80 percent of GDP. Services slowly overtook manufacturing as the largest contributor toward GDP in the early 20th century and the trend toward what Victor Fuchs coined a “service economy” continues to this day. Understanding the determinants of growth in the services and manufacturing sectors can offer insight to why the economy is composed of primarily services, the experience of manufacturing and services growth in the past, and what its experience can be expected to be in the future. To do this, this paper theoretically and empirically examines manufacturing and services output growth as well as their determinants. The paper first presents work done in the past relating to sectoral growth and the transition toward services and performs analytical interpretation of created graphs showing trends in sectoral growth. The theories of perfect competition, profit maximization, and comparative statics are then fully presented and used to describe sectoral output growth. Based on these theories, predictions are made and tested empirically through the use of multiple regression analysis regarding the theoretically based determinants of sectoral growth: net GDP growth, investment growth, fuel price growth, investment price growth, wage growth, and commodities price growth. The numerical results of the regressions are explained in detail and support and contradict some of the theories put forth.
Name: Kuniak, Alanna
Date: Spring 2014
Major(s): Economics
Thesis Committee: S. Casler, T. Hodge
Title: Energy Shocks and their Effects on Inflation
Abstract: Since the end of World War II, the United States has experienced a steady rise in the overall price level of goods and services. This phenomenon is known as inflation, and although the United States has experienced relatively low inflation, the inflation rates that corresponded to the oil shocks of the late 1970’s have had a large and profound effect on the economy. The question arises as to the effects that modern, cheaper, and cleaner sources of energy have impacted current inflation. Specifically, this study examines if the oil price shocks of the 1970’s caused a structural change to inflation, and whether energy prices still play an important role in determining this variable. Though the use of regression analysis and slope dummy variables that separate inflation into energy shock and post energy shock models, conclusions are drawn as to the occurrence of a structural change and the implications of those changes. Major finding include that a structural change did take place such that energy prices are no longer one of the leading causes of inflation, and that new sources of energy would have smaller impacts on inflation today than they would have in the 1970’s.
Name: Ma, Xiaoqing
Date: Spring 2014
Major(s): Economics
Thesis Committee: D. Goldstein, J. Golden
Title: Does Beijing’s Automobile Restriction Policy Affect the Automobile Sales in Beijing?
Abstract: The automobile restriction policy has been in effect in Beijing since the 29th Olympic Games in 2008. An affected car was only able to be driven on the road every other day during the Olympics and since been restricted one weekday per week since October 2008. Since the policy has been in effect, the commuters in Beijing have to squeeze in the packed buses or subways. The policy has greatly affected people’s lives in Beijing. However, is the policy really working? How does the automobile restriction policy affect automobile sales in Beijing? In this study, we will examine whether or not the policy affects automobile sales by building a regression model and will analyze the results quantitatively and statistically.
Name: Maxwell, Keith
Date: Spring 2014
Major(s): Economics
Thesis Committee: D. Goldstein, J. Golden
Title: Disruptive Innovation and New Business Models in the Music Industry
Abstract: The music industry has undergone radical changes in the past decade, more so than other mediums of entertainment. In the past, the process of selling music entailed a major label signing the artist, producing a record, and maybe the artist going on tour to support it. Now, fewer artists are signing to major record labels, and the record itself is no longer the primary revenue stream for musicians. Digital innovation has allowed for new avenues of distribution such as file sharing, and music streaming that are having profound impacts on the overall business model of the market. Independent artists are gaining a significant share of the industry, and are promoting themselves through live performances rather than physical records. Value in the music industry is now based off of the service being provided and a strong association with a lifestyle rather than the physical copy of the music. A new startup that operates under a business model that prioritizes allowing fans easier access to new music, associating with the lifestyle of their favorite genre, and providing services to concert tickets, merchandise, and other associated products is the new way to find success in the music industry.
Name: McGrath, Casey
Date: Spring 2014
Major(s): Economics
Thesis Committee: R. Ormiston, J. Sickafuse
Title: The Uncertain NFL: Pre-Draft Information’s Effect on the NFL Selection Process
Abstract: The purpose of this study was to see if there were any pre-draft indicators of NFL success. In order to do this, I used all quarterbacks, running backs, and wide receivers drafted from 1999-2008. In addition to this, I collected all of their combine data, college statistics, and NFL statistics for the first five years of their career.
I constructed 12 total regressions using all of these positions with NFL statistics as the dependent variable. The combine data and college statistics were used as the independent variables. The results concluded that there was little significance for the quarterback position other than conference. However there were additional indicators for running backs and wide receivers, which may allow for NFL teams to find more productive NFL players.
Name: McNany, Dylan
Date: Spring 2014
Major(s): Economics
Thesis Committee: R. Ormiston, T. Hodge
Title: Examination of the Betting Market in Major League Baseball: A Test of Market Efficiency
Abstract: Previous studies of the sports betting market, more particularly, the betting market for Major League Baseball (MLB) have proven the market to be generally efficient. Using studies by Gandar et al. (2002) and Brown and Abraham (2002) as the backbone of this research, the money line betting market is tested to determine market efficiency. Focusing on home underdog teams, rookie starting pitchers, and interleague play, data is compiled and tested using a series of calculations to study efficiency. It is concluded that while home team underdogs and rookie starting pitchers support an efficient market, betting specifically on American League (AL) teams during interleague play shows signs of profitability. This suggested market inefficiency provides interesting insight into the differences between the American League and the National League (NL) of the MLB.
Name: Meyer, Alexandra
Date: Spring 2014
Major(s): Economics
Thesis Committee: S. Casler, T. Hodge
Title: The Determinates of Productivity: A Mangers Perspective
Abstract: The purpose of this study is to identify the factors that affect labor productivity as a means of informing management of ways to improve employee performance. Chapter I provides evidence that after the structural changes during the Great Moderation, output per hour has grown exponentially since 1984. Prior to 1984, output per hour growth experienced countercyclical movements relative to real GDP growth. The countercyclical movements experienced output per hour growth between the years 1965 and 1984 are assumed to be a product of a number of events that took place in economic history. Events mentioned in Chapter I are the energy crises, the Rust Belt shut down, technological change, the growth of the service sector, and the entrance of woman and the baby boom generation into the labor force. All of these events contributed to the Productivity Slow Down of The 1970’s.
In Chapter II, the human capital model and the labor demand curve are used to gain a better understanding of human capital investments. Also mentioned are the theories of efficiency wages, nonwage offsets, recognition and reward culture, and job satisfaction.
In Chapter III, the regression model is displayed to study the impact several variables have on labor productivity growth. Through an interpretation of the regression equation, assessments are made regarding the impacts independent variables have on the labor productivity growth rate. Major findings include that productivity tends to increase when there is an increase in wages during the previous period, employers offer nonwage offsets or incentives, when black women participate in the labor force, and after the structural changes of the Great Moderation.
Name: Miller, Daniel
Date: Spring 2014
Major(s): Economics
Thesis Committee: D. Goldstein, A. Moskwa
Title: Creating a Competitive Advantage in Customer Service through Service-Dominant Logic
Abstract: Today’s fast paced advances in technology are driving down buyer search costs, resulting in increasingly competitive markets for firms. It is becoming ever more important for firms to create sustainable customer loyalty to protect their bottom line financial results. One way to earn dedicated customers is through competitive advantage. This study examines the resource-based view of the firm as it applies to creating a sustainable competitive advantage in service, through the application of service- dominant logic (S-D logic). It is found that customer loyalty and competitive advantage are the results of correctly applying S-D logic in a firm. Case study analysis is used to determine if select firms with reputations for satisfied customers uphold S-D logic and if they can expect performance advantages as a result of creating a sustained competitive advantage in customer service. Two of the three test companies uphold S-D logic. Evidence shows they developed a competitive advantage in service and it is expected it helped contribute to their rise as industry leaders.
Name: Minsterman, Carly
Date: Spring 2014
Major(s): Economics
Thesis Committee: S. Casler, S. Bilo
Title: GDP Growth: A Comparison of the United States and Germany, 1991-2012
Abstract: The purpose of this study is to examine the determinants of GDP growth of the United States and Germany based on their performance over the 1991-2012 time period with a specific focus on the 2007-2009 recession and each country’s post-recession recovery. Using the theory of the production function and labor demand and supply model, this study compares the determinants of GDP growth to form a list of variables including investment growth, male employment growth, female employment growth and productivity growth which are used in the regression model. Regression analysis enables a comparison of the two business cycles by determining the effects that the independent variables have on GDP growth. By comparing the effects for both countries and determining which variables are statistically significant or how effective the model is, the two countries are evaluated and one can tell which economy is thriving based on its GDP growth and independent variables. Over the entire time period, the United States has been more successful in terms of GDP growth; however in recent years, Germany has been much more successful than the U.S. German GDP was low during the early years of this study because of reunification costs and it has improved greatly throughout the years. Thus, in recent years during the economic downturn and while U.S. unemployment rates continue to be high, Germany’s economy has been thriving. This is because it had a high employment rate even during the recession, specifically due to increased female employment growth.
Name: Morosky, Garrett
Date: Spring 2014
Major(s): Economics
Thesis Committee: R. Ormiston, J. Golden
Title: Entrepreneurial Determinants: How Financial, Human, and Social Capital Effects Entry Into Self-employment
Abstract: Since the recession began in 2008, there has been a substantial shift toward small-scale entrepreneurship. The United States alone has experienced a 60 plus percent increase in total entrepreneurial activity from 2010 to 2011. The article studies the role of human capital, social capital, and financial capital in the occupational choice process involving entry into self-employment. Although the decision to become self-employed has been frequently analyzed, human capital, social capital, and financial capital has been used to determine specific details of entrepreneurship. We show that entry into self-employment depends quite strongly on person’s human capital, social capital, and financial capital. We obtain our data from the NLSY97 and test our hypothesis using the Ordinary Least Squares Method. We find that an individual with greater access to wealth increases the likelihood a person becomes self-employed. Also, we find that individuals who experience higher educational attainment are more likely to specialize in a particular field. Theoretical analysis suggests that a people with more social capital are more like to entry self-employment, but the regression model does not account for social capital due to data limitations.
Name: Mosconi, Francesco
Date: Spring 2014
Major(s): Economics
Thesis Committee: J. Liu, S. Bilo
Title: The United States and China’s Trade Relationship: The Effects of the Deficit on the United States’ Manufacturing Sector
Abstract: NONE PROVIDED
Name: Moses, Katherine
Date: Spring 2014
Major(s): Economics
Thesis Committee: D. Goldstein, J. Sickafuse
Title: Corporate Social Responsibility as a Duty-Driven Ethical Response to Global Business Pressures
Abstract: Historically, corporations have operated ethically through the valuable attribute of a personal sense of morality found in corporate leaders. However, as corporations grew and globalization increased, management’s interests shifted to a profit-driven focus as competition became fiercer and the bottom line was increasingly important. As a result of the obsession with profit maximization, unethical business practices became the norm and short cuts were often taken. This behavior resulted in many company scandals and environmental disasters. As more attention was drawn to the repercussions of poor business behavior, it was clear that corporations must make an organizational change to rectify their damages made to society. The topic of business ethics was revisited, and many companies started adopting socially responsible programs as a result of their duty to society.
This paper serves as an ethical analysis of the transition described above. It suggests that business ethics must be applied strategically for corporations to succeed. Through an examination of firms in the chemical industry, corporate social responsibility (CSR) programs related to environmental impact are analyzed in relation to the following hypotheses: 1) companies that practice CSR have a measurable effect on their environmental performance, and 2) socially responsible practices are related to financial performance in that firms that adopt these programs experience increased profitability.
The findings of this analysis suggest that CSR programs do increase company profitability, supporting hypothesis 2. However, there were varying results that supported hypothesis 1, that the programs had a real effect on company environmental performance. Thus, it can be concluded that companies are benefiting from ethical behavior, but there is more that can be done to reduce their environmental impact.
Name: Muldoon, Colin
Date: Spring 2014
Major(s): Economics
Thesis Committee: J. Liu, S. Bilo
Title: Nature, Nurture, or Neither? Exploring the Link Between Wage and Tuition
Abstract: : Since the 1970s, college tuition has skyrocketed at a rate many times that of inflation. This has forced consumers of postsecondary education to scrutinize the wage potential they gain from graduating a four year institution, and has made way for a new type of higher education institution- non-traditional for-profits. Has traditional college tuition been bloated by the unquestioned societal mantra that obtaining a bachelor gives you a higher wage? This paper aims to find the effect of schooling on mid-career salary. Before its effects on wage are examined, tuition itself must be regressed to determine which factors tuition is composed of. The regression results find that more expensive schools are in general higher quality (with respect to their faculty) and that wage is made up by both natural abilities and the nurturing of those abilities at a higher education institution.
Name: O’Donnell, John
Date: Spring 2014
Major(s): Economics
Thesis Committee: R. Ormiston, J. Sickafuse
Title: How Top NBA Rookies Affect League Attendance
Abstract: NONE PROVIDED
Name: Payne, Patrick
Date: Spring 2014
Major(s): Economics
Thesis Committee: S. Martin, A. Baskan
Title: An Analysis on the Effectiveness of Employment Programs in REducing Recidivism across Race and Age
Abstract: This paper analyzes a study conducted by the Manpower Development Research Corporation in the late 1970’s. The Manpower study looked at how employment programs affected several “at risk” groups. This paper utilizes the data collected in this study and looks at it through the lens of how these programs effected recidivism rates across age and race.
Name: Santucci, Miranda
Date: Spring 2014
Major(s): Economics
Thesis Committee: J. Liu, A. Baskan
Title: Tax Incentives as Effective Policy Tools to Stimulate Residential Adoption of Solar Technology in the U.S.
Abstract: The last few decades have witnessed growing concern over the United States’ dependence on oil, specifically foreign oil, and anxiety about harmful greenhouse gas emission, and its concomitant global warming implications. These concerns have led to numerous legislative programs in support of the discovery and development of renewable energy technologies. This paper aims to explore the tax incentives available for the production of, and investment in, solar (photovoltaic) technology, and to determine the effectiveness of the incentives in stimulating renewable energy adoption in the residential sector. The probit model used to determine a household’s likelihood of installing a photovoltaic system produces a statistically insignificant result in the level of state incentives variables, suggesting that state rebates and tax credits are not of paramount importance in a household’s decision to adopt a PV system. The research also features a theoretical chapter containing an analysis of residential adoption based on the effects of a subsidy on demand and a consideration of the feasibility of installing a solar system based its net present value. In the discussion section, alternative policies incentivizing solar adoption, such as net metering, feed-in tariffs, and Renewable Portfolio Standards, are profiled. In addition, a case study of Germany’s renewable energy policy is presented and compared to the current policy in the U.S.
Name: Sellers, Kaitlyn
Date: Spring 2014
Major(s): Economics
Thesis Committee: R. Ormiston, J. Sickafuse
Title: The Effects of Human Resource Policies on Work-Life Balance
Abstract: NONE PROVIDED
Name: Slutiak, Katlyn
Date: Spring 2014
Major(s): Economics
Thesis Committee: S. Martin, A. Baskan
Title: The Effects of Increasing Technology and File Sharing on Music Sales
Abstract: NONE PROVIDED
Name: Teufel, Paul
Date: Spring 2014
Major(s): Economics
Thesis Committee: D. Goldstein, A. Moskwa
Title: The Impact of Superstar Players upon Fan Interest in Major League Soccer
Abstract: Major League Soccer is a relatively young and poorly established sports league, compared to soccer leagues around the world, and to other American leagues. Major League Soccer seeks to establish itself among the world’s elite leagues, and attract the best players in the world, yet it must compete with those other leagues for both players and fans. As a strategy for increasing fan interest in the United States, Major League Soccer, a league that was founded with a strict salary cap, introduced a rule that allows teams to sign players for salaries well above the cap. This article evaluates the effects of that decision upon fan interest, and makes recommendations for future decisions.
Name: Tobias, Alexandra
Date: Spring 2014
Major(s): Economics
Thesis Committee: D. Goldstein, A. Moskwa
Title: Economic Cluster Theory and the Pittsburgh Strip District
Abstract: Clusters, as originally studied by Michael Porter, are geographic concentrations of interconnected companies, specialized suppliers, service providers, and associated institutions in a particular field that are present in a region. This paper discusses the Pittsburgh Strip District in relation to Economic Cluster Theory and goes into the possibility of the Strip being an economic cluster by first analyzing the characteristics of clusters through different literatures. An analysis of interviews from business owners in the Strip District is then presented as empirical evidence. The characteristics of cluster theory are then related to information found about the Pittsburgh Strip District in order to help determine if the area is or is not a cluster. Any implications for the region such as business strategy are also discussed.
Name: Verno, Rachel
Date: Spring 2014
Major(s): Economics
Thesis Committee: S. Martin, A. Baskan
Title: “Is It Worth it?”: Studying Women’s Life Satisfaction and Wage Differences Between Attending a Private and Public Higher Education
Abstract: The cost of higher education has continued to increase over the last decade. Therefore making a choice between colleges is an imperative process. The main focus of this paper is to study how the rates of return to higher education for females differ based on whether they attended a private or public form of higher education. The study will be a regression modeled on classical economic literature focusing on Human Capital, Intertemporal Choice and Consumer Preference Theory. The regression uses data from the NLSY(97), and looks beyond wages being the primary return and includes a life satisfaction scale. The hypothesis in this paper is that returns to private education will be favorable in terms of life satisfaction, but wage returns will be similar to public education and as a result wages are not the driving force for students to attend a private education. Overall the regression analysis suggests that this hypothesis could be appropriate because of the economic significance found, but that a more applicable model or sample size would have increased statistical significance of the findings. Lastly including different constant variables could have changed the results and therefore would be important to study.
Name: Vorder Bruegge, Sarah
Date: Spring 2014
Major(s): Economics
Thesis Committee: D. Goldstein, A. Moskwa
Title: A Study of Non-monetary Incentives and Employee Performance: A Macy’s, Inc. Case Study
Abstract: Firms today are looking for new ways to incentivize their employees due to recent economic downturns. Some of the most commonly underused forms of doing so are non- monetary incentives in the form of recognition, employee participation, and the environment in which an employee operates. It has been theorized that many employees seek recognition and that not getting recognition is one of the top reasons an employee will leave a job (Neckerman and Frey, 2013). Using this theory and others surrounding the effects of employee recognition, participation, and work environment, Macy’s, Inc. will be explored and used to identify the benefits of these practices. Macy’s will be used to draw conclusions on the effects of non-monetary incentives combined with monetary incentives to create productivity in the business.
Name: Weiss, Daniel
Date: Spring 2014
Major(s): Economics
Thesis Committee: S. Martin, T. Hodge
Title:
Abstract: NONE PROVIDED
Name: White, Oliver
Date: Spring 2014
Major(s): Economics
Thesis Committee: S. Casler, J. Sickafuse
Title: The Determinants of Gold Equipment Sales: 1990-2012
Abstract: This study quantifies and analyzes the determinants for golf equipment sales in the United States from 1990-2012. The study of these determinants is carried out with the goals of determining the influence the business cycle has on the golf industry, why golf equipment sales struggled during the 2000’s, and to provide businesses in the golf industry with new perspectives regarding what factors might boost sales. The model of perfect competition is thoroughly explained and discussed because it is used as the theoretical foundation of the study. From this theory, variables were chosen, to be representative of determinants of golf equipment sales, to be used in this study’s regression analysis. The results of which suggest the business cycle plays a large role in influencing golf equipment sales, which also explains the low sales experienced in the 2000’s.
Name: Winter, Ethan
Date: Spring 2014
Major(s): Economics
Thesis Committee: R. Ormiston, S. Bilo
Title: Sustainability of Freemium Gaming: A Contrast between Traditional and Freemium Gaming Methods
Abstract: This study aims to determine the sustainability of Freemium games within the gaming market. The study utilizes history about gaming from the 1970’s to present, focusing from 2007 through 2013; framing the recession of 2008 as well as the emergence of the Freemium game style. Three companies, Activision Blizzard, Electronic Arts, and Zynga are contrasted to determine the differences between traditional gaming and Freemium gaming. Each company is analyzed using public annual reports, financial data, and historical precedents. The 2008 recession acted as a point of analysis to judge each firm’s ability to return to market power.
The study concludes that Zynga failed because an entirely Freemium gaming platform for a firm of Zynga’s size is not sustainable. For a Freemium game firm to maintain success the firm must either diversify into other markets using its core competency or maintain a low budget to experience high profits at a Freemium game’s success. Zynga did not perform either of these, expanding rapidly and relying on Freemium games alone until 2013, causing the firm’s rapid decline. Freemium games have begun to fracture the gaming market from an oligopoly to monopolistically competitive due to lower barriers to entry from the flood of Freemium firms, exacerbating the inability to profit from a Freemium game.