Archive: Beth Ryan | Business and Economics

Beth Ryan

Research in Economics: Law Enforcement Leaders and The Racial Composition of Arrests

By Beth Ryan October 1st 2020

George Bulman, Ph.D. In the second lecture in this year’s theme, Seeking Justice in a Divided Nation, the Bruce R. Thompson Center for Business & Economics welcomed Dr. George Bulman, Assistant Professor of Economics, University of California, who presented his research entitled “Law Enforcement Leaders and The Racial Composition of Arrests.”

Dr. Bulman introduces a novel avenue of study for understanding the mechanisms behind racial discrimination in law enforcement. He will explain a new 25‐year panel history of the race of every U.S. sheriff to shed light on the potentially important role of managers who make hiring decisions and set departmental priorities. Comparing agencies that experience racial transitions to agencies with overlapping jurisdictions reveals that the ratio of Black‐to‐White arrests is significantly higher under White sheriffs. Heterogeneity analysis indicates that the effects are driven by arrests for less‐serious offenses and by targeting Black crime types.

Dr. Bulman’s paper can be found at this link | You can watch his presentation here on YouTube

George Bulman is an Associate Professor of Economics at the University of California at Santa Cruz. Prof. Bulman is a public economist who specializes in evaluating the effects of local and federal policies using large administrative data sets. His research examines topics such as the factors that shape the college enrollment decisions of low-income students and the role of race in law enforcement. His papers have been published in leading economics journals, including the Journal of Public Economics, the Journal of Labor Economics, and the American Economic Journal. Prior to joining the faculty at U.C. Santa Cruz, he earned a B.S. at Haverford College and Ph.D. at Stanford University.

The Bruce R. Thompson Center for Business & Economics attracts Allegheny’s next generation of business innovators and entrepreneurs by providing a host of co-curricular activities that connect with and deepen their classroom experiences. The Lunchtime Learning Lecture Series provides students with opportunities to gain valuable information on topics and industries related to internships and careers.

Creating Good Policy at the Cleveland Federal Reserve Bank

By Beth Ryan September 30th 2020

October 6, the Bruce R. Thompson Center for Business & Economics will host Julianne Dunn, Cleveland Federal Reserve Bank. “Good policy can’t be created in a vacuum, “says Julianne Dunn. She emphasizes including the real drivers of the economy—businesses and workers—to ground and inform economic policy.

To register, email bryan@allegheny.edu

As an economic analyst at the Federal Reserve Bank of Cleveland, she combines insight from business and community leaders with economic data to assess regional conditions and to craft the policy message for briefing President Loretta Mester ahead of each FOMC meeting. She also contributes to Bank publications including the Beige Book, District Data Briefs, and Metro Mix.

While pursuing master’s degrees in International Relations and Economics at Syracuse University, Julianne researched how multinational companies contribute to economic growth in developing countries. During an internship with the U.S. Foreign Commercial Service in Bangkok, Thailand, she advocated for more resources to strengthen the United States-Cambodia trade and investment relationship. Before joining the Fed, Julianne worked on economic forecasts as an economist at MarketResearch.com. A lifelong Big Ten football fan, she received a bachelor’s degree in International Studies from The Ohio State University.

Fields Jackson, Jr. ‘80 Makes the Business Case for Diversity

By Beth Ryan September 21st 2020

On September 8, the Bruce R. Thompson Center for Business and Economics welcomed Fields Jackson, Jr. ‘80, who presented “Making the Business Case for Diversity.”

The first talk in this year’s Seeking Justice in a Divided Nation Lunchtime Lecture series, Jackson shared his Allegheny journey to NASCAR and ultimately to his current position as the Founder, CEO and Chief Cheerleader of Racing Toward Diversity Magazine, President, College Diversity Network and Executive Director of the Historically Black Colleges & Universities Business Dean Roundtable. In this presentation he explains how diversity improves company performance both in profitability and innovation, particularly when problems are complex.

Click here to view this presentation on YouTube

He asked students, How do you know if a company values diversity?

Here’s Fields Jackson’s 7 Tips to prepare for your next job or internship interview:

Check out the Board of Directors (generally found on the investor website), do you see diversity?
Take a look at the senior or executive staff, same question.
Who are the company’s partners, their networks or affiliations?
Do they have a public vendor program? Do they attend special events?
Do they attend Diversity job fairs?
Are they active in social media, do they walk the talk?
Google the company, what are people saying?

Network with Fields by connecting with him on LinkedIn.

Fields Jackson

Mr. Jackson is currently the Founder, CEO and Chief Cheerleader of Racing Toward Diversity Magazine, Cary, NC, President, College Diversity Network and Executive Director of the HBCU Business Dean Roundtable. Fields was recognized by Diversity Best Practices as one of the Top Diversity Thought Leaders on Twitter.

Fields has also been identified by Onalytica, London, England, who helps run inﬂuencer programs for some of the largest brands in the world as #13 of the top 100 global inﬂuencers focusing on Gender Equality and Diversity. Hive Learning recently recognized Fields as one of the Most Influential Diversity & Inclusion Leaders – 2019. According to Hive – Fields Jackson is an influential Diversity and Inclusion advocate and expert who publishes Racing Toward Diversity magazine. He advocates that job seekers conduct their due diligence in finding Diverse workplace opportunities through research, networking and asking the right questions.

Fields received his Bachelor of Arts Degree in Economics and Bachelor of Arts Degree in Philosophy from Allegheny College, Meadville, PA. Fields received his MBA Degree from Northern Illinois University, DeKalb, Ill.

Selected Topics in Neuromarketing: Influencing Consumer Decision Making in the COVID Era

By Beth Ryan September 17th 2020

Dr. Michael Barbara, Chief Behavioral officer at Clicksuasion Labs, will Zoom in on September 23 to update students on how consumer behavior has shifted in the “new normal.”

With literally thousands of decisions that we make each time you step into a grocery store or a Best Buy or your favorite clothing store – how do you decide what to buy? More important, how do these stores decide how to persuade you to pick one item over another? Push this button instead of that one? Attend this Zoom lecture to get insight on what’s going on behind the scenes before you make your next shopping trip. Meet Michael Barbera on YouTube

Email bryan@allegheny.edu for more information and registration.

Dr. Michael Barbera is an award-winning consumer psychologist and business strategist for Fortune 50 companies. He is a leading expert in the complex factors that drive the entire consumer decision-making process, including consumer behavior, emotion, and experience. His practice areas include social psychology, decision-making, brand management, marketing, product placement, and long-term business growth strategies.

As the chief behavioral officer at Clicksuasion Labs, Michael helps clients to better understand consumer influence and consumer behavior, both online and in person. With Michael’s help, companies build customer experiences that are more efficient, engaging, and effective. He also creates evidence-based solutions that affect both external marketing strategy and internal operations management with behavioral economics and behavioral finance.

Michael has worked with large organizations including Boeing, Microsoft, The Washington Post, John Deere, Harley Davidson, LendLease, the United States Department of Defense, and the United States Department of State. He has also worked with academic institutions including Ithaca College, Purdue University, Duke University, and the University of North Carolina. Michaels’s clients have also appeared on the Billboard Top 40, ABC’s Shark Tank, Bravo’s Million Dollar Listing, and Gordon Ramsay’s Kitchen Nightmares.

Michael champions entrepreneurs and business leaders as a teacher, moderator, and mentor. In 2015, the White House recognized Michael for his many contributions to entrepreneurship. Michael shares research, insights, and thought leadership as a celebrated keynote speaker, host of the Clicksuasion podcast, and dynamic TEDx presenter. More than 100,000 people have seen Michael speak on four continents, and he has earned more than 250,000 views online.

Faculty Reflections on Remote Teaching & Amazing Students

By Beth Ryan July 27th 2020

What happens to teaching at a traditional residential college during the Spring 2020 semester when suddenly, in a period of 2 weeks, the faculty has to pivot from in-person to remote teaching?

Here are reflections on remote teaching and learning from the CBE Faculty:

Chris Allison, Entrepreneur in Residence, CBE Co-Director

“Remotely teaching Business Literacy and the Economics of Entrepreneurship II using a synchronous method went well for two reasons. First, we met during our regular class time and worked together in the same manner as we did when classes met in person. My students really responded well. Class participation and attendance was excellent. Second, we modified content to fit the moment. We studied how businesses are responding to the pandemic; how public health officials and business leaders worked together to combat other outbreaks, such as Ebola; health science startups as well as vaccine and drug development.”

— Chris Allison ’83, Entrepreneur in Residence, CBE Co-Director

“I was very proud of the effort made by my colleagues and students to do the quick transition to remote teaching. The students had to juggle parents, pets, siblings, and other distractions — sometimes quite substantial — to keep engaged in the class material. We continued to have class three times a week over Google Meet, and attendance and overall participation were very high.”

–Tomas Nonnenmacher ’90, Patricia Bush Tippie Professor of Economics, CBE Co-Director

“Nothing is constant but change. Teaching remotely was a challenging experience, because while students were experimenting with remote teaching, they were emotionally facing a disruptive time. But it is the way you look at things that can change the things themselves. In my marketing classes, we follow the flow of change, and we acquire new content, tools and methodologies that will be helpful in the coming new business environment.”

–Gaia Rancati, Ph.D., Assistant Professor of Marketing and Neuromarketing, Visiting Professor IULM University Milan

“While those first couple weeks were especially hectic for everyone, I was so proud of how our students responded. Despite dealing with difficult circumstances and challenges, students almost universally remained engaged and focused through the end of the semester. Their ability to persevere–and complete excellent work–in the middle of a pandemic was remarkable.”

–Russell Ormiston, Associate Professor; President, Institute for Construction Economic Research

“Remote learning was obviously not my students’ preferred method to end the Spring semester, especially for the Seniors. Their positive attitudes and eagerness to continue learning is something that ought to be commended. Unlike some of my colleagues, I took an asynchronous approach to remote learning. This was borne out of necessity because I had many international students, but the response that I received was overwhelmingly positive.”

–Timothy Bianco, Associate Professor, CBE Co-Director

Questions? Feel free to contact us at cbe@allegheny.edu

The Center for Business & Economics attracts Allegheny’s next generation of business innovators and entrepreneurs by providing a host of co-curricular activities that connect with and deepen their classroom experiences.

Teaching and Learning in the COVID-19 Era

By Beth Ryan July 7th 2020

Opening remarks to the alumni, students and faculty by Stephen Z. Onyeiwu, PhD. Chair, Business and Economics Department, reprinted from the Center for Business & Economics Spring/Summer 2020 Newsletter

Focusing on adjusting to the new reality of COVID-19

Allegheny Economics Research Team from left: Dr. Onyeiwu, Gillian Greene '20 and Matthew Massucci '20 — Dr. Onyeiwu with students Gillian Greene ’20 and Matthew Massucci ’20

I’m sure you are wondering how we are coping with the pandemic in the Business and Economics Department at Allegheny. Right after the spring break in late March, we transitioned into remote teaching and worked from home until the end of June. The transition was very challenging initially, especially for a college that has for many years developed a reputation as a unique residential institution.

Teaching remotely is an unforgettable experience for most of us. We have always cherished being in the classroom with our students, having in-person conversations, organizing case presentations, pacing up and down the room, and gesturing to drive home our points. With remote teaching, it was a very different experience when we sat alone and repeatedly viewed computer screens, not knowing how attentive the students were. But we adapted to the new reality, and did our best to deliver the same learning outcomes as in-person teaching. I missed seeing my students follow me to my office to continue with classroom conversations, as well as having one-on-one meetings with advisees.

Despite its challenges, COVID offered an opportunity for my colleagues and me to reinforce our teaching. In many cases, the pandemic helped to provide evidence about what works or doesn’t work in the economy and the business world. Some propositions in economics and business textbooks became controversial and questionable because of the pandemic. COVID-19 turned out to be a goldmine for my International Business course. A few weeks before the pandemic, we covered a chapter on global supply-chain risks. I sensed that students regarded that chapter as one of those textbook topics that have no instrumental value. A few weeks later, however, I could not keep their mouths shut when they began proposing strategies for mitigating COVID-induced supply-chain risks.

Then, the concept of “too-big-to-fail” cropped up. As the Trump administration struggled to cobble together a stimulus plan, the students were ecstatic: which corporations should be supported and which should be allowed to fail? What criteria should economists and policy-makers use in determining which businesses to save? Will the US dollar appreciate or depreciate as a result of COVID, and what are the implications for international trade and capital flows? Is this a good time for “beggar-thy-neighbor” policies of protectionism? Will globalism become anachronistic? What should be the role of the World Trade Organization, the World Bank and the International Monetary Fund in blunting the economic impact of the pandemic? So many controversial and intriguing issues!

Students in my seminar on development economics were perhaps the most vociferous about the implications of COVID-19. They questioned the tendency by economists to focus too much on economic growth as the key measure of economic progress. If we value our health this much, with all the lockdowns, stay-at-home orders, scramble for increasingly scarce face masks, ventilators, test-kits, etc., then we need to begin to de-emphasize economic growth and prioritize healthcare as an important indicator of development. There will be a lot of soul-searching in the economics and business professions about why we seem to be ill-prepared for the health and economic ramifications of the pandemic. Perhaps we might see the emergence of a new paradigm for managing exogenous shocks, reminiscent of the introduction of Keynesianism during the great depression.

Barring unforeseen trends in COVID-19, Allegheny is planning to reopen for the fall semester on August 31. We are planning to teach both remotely and in-person. You can be sure that COVID will continue to feature prominently in the classroom, as students and faculty discuss its impact and how best to mitigate its consequences.

Questions? Feel free to contact us at cbe@allegheny.edu

Allegheny College Meets the Bloomberg Trading Challenge

By Beth Ryan June 8th 2020

Wealth Management Club members Trevor Day ‘20, Rafael Balanquet ‘20, and John Nagel ‘20 teamed up to enter the 2020 Bloomberg Trading Challenge. Although the Challenge was cancelled due to the COVID-19 pandemic, the team had a fantastic run, ranking 4th on the leaderboard at the end of week 5. Michael Michaelides, Assistant Professor of Economics and Faculty Advisor to the club, commented, “this performance is impressive, given that a couple of hundred teams and universities participate in this challenge.”

Student Trevor Day ’20 appreciated this opportunity, sharing these thoughts:

“I took on the Bloomberg Trading Challenge because it was something that interested me, but I’ve really begun to see the value of it as potential employers keep asking me questions about the trading challenge, the strategies I used, and Bloomberg Market Concepts. In the current job market, it is an ace up my sleeve that is distinguishing me as a job candidate.”

The Bloomberg Trading Challenge, How It Works

Students create 3-5 member portfolio teams and develop a strategy based on their own market assumptions. The team uses the Bloomberg Terminal to define the assumptions, develop a return-generating strategy, and execute trades over a closed network. The team has $1 million notional amount to invest across any number of securities. The team that generates the highest return relative to a pre-selected benchmark and presents the best investment methodology at the end of the Challenge is the winning team.

Allegheny College Wealth Management Club

The Wealth Management Club is designed to be a collaborative environment in which students can openly discuss and learn about topics relating to personal finance. The club invites guest speakers, uses simulations, and performs individual research in order to educate members about personal finance topics and learn how to get a head start on managing their own money.

For more information, visit The Bloomberg Lab at Allegheny College.

The Bruce R. Thompson Center for Business & Economics attracts Allegheny’s next generation of business innovators and entrepreneurs by providing a host of co-curricular activities that connect with and deepen their classroom experiences.

Meet The Fellows: Rachel Tobler ’21

By Beth Ryan June 2nd 2020

Rachel will graduate in 2021 as an Economics major with a Spanish/Political Science double minor. This fall, Rachel will begin her second year serving as a Fellow.

What’s it like to serve the Business & Economics department as a Fellow? Here’s what Rachel had to say:

“Serving as a CBE Fellow this year opened the door to me to work alongside the business and economics faculty, along with the speakers we bring in, bettering my networking, organization, and public speaking skills.

As for next year, though we don’t know what will come of the fall semester, as Fellows we hope to work with current students, connecting them to experts and alumni to help guide them through this uncertainty. We will hold office hours in a new initiative to meet personally with students, giving them the resource to navigate business and economics at Allegheny and beyond.”

The Bruce R. Thompson Center for Business and Economics Fellows are a select group of motivated students that function as a leadership team to support CBE programming and act as student ambassadors.

Congratulations to Jerfenson Cerda Mejia and Sharlyne Cabral!

By Beth Ryan May 21st 2020

The 2019 Financial Literacy Challenge winners circle – see more photos of the Challenge here; The next challenge will be held on December 5, 2020

Congratulations to Jerfenson Cerda Mejia and Sharlyne Cabral who placed in the top ten in the 2020 CFA Society of Pittsburgh Financial Plan Competition! These two first prize winners in this year’s Financial Literacy Competition in December went on to compete with 200 students from colleges and universities throughout Pennsylvania!

The CFA Society of Pittsburgh Collegiate Personal Financial Planning Competition is available to students from Pennsylvania’s academic institutions. Each student enters a financial plan that serves as a road map to help students plan for and achieve their financial goals. Through this program, the CFA Society of Pittsburgh hopes to help students take ownership of their financial future.

Gene Natali, CFA, CEO & Cofounder of Troutwood commented, “This year’s CFASP collegiate financial plan competition was extremely difficult to grade. This is because ALL of the financial plans submitted were exceptional! Every student that went through this effort will likely be better off because of it. Congratulations Jerfenson and Sharlyne on a job well done. Now go do it!”

Jerfenson and Sharlyne were winners in the December 2019 Financial Literacy Challenge. The Financial Literacy Challenge is a competition in which students develop and present a personal financial budget and investing plan appropriate for life after graduation. The competition is open to all Allegheny students, however participation in the challenge is a mandatory assignment for students taking ECON 010 – Financial Literacy. There are $5,000 in prizes and trophies awarded to student winners. The next competition will be held on December 5, 2020

Meet The Fellows: Shannon Putnam ’20

By Beth Ryan May 15th 2020

Shannon Putnam '20 Shannon will graduate this year as an Economics major and Education Studies minor after serving as a Fellow her senior year. What’s it like to serve the Business & Economics department as a Fellow? Here’s what Shannon had to say:

“Having the opportunity to be a Fellow as played a major impact on my senior year at Allegheny. It has allowed me to create stronger connections with everyone within Quigley Hall which has become like a home to me over the past four years. Being a Fellow has also vastly improved my networking, public speaking, and time management skills. Being a Fellow is something that has made my Allegheny career so special and I will look back on this time with great fondness. ”