Category Archive: Economics | Business and Economics

Economics

Allegheny Students Rock the 2021 Econ Games!

By Beth Ryan May 11th 2021

Allegheny College joined 18 colleges and universities participating in the 2021 Econ Games on March 12, 2021. The Econ Games are an experiential learning experience frequently referred to as “an internship in a day” for participating students. This year, the competition was held virtually the first week in March with additional networking and development opportunities throughout February. Assistant Professor of Economics and Faculty Advisor, Dr. Kathryn Bender led the way recruiting students from all majors to participate in this data analytics and research event designed to help students solve real-world problems.

Students were challenged by a corporate sponsor to help them solve a business problem. This year’s data collaborator was the Federal Reserve Bank of Cleveland and the theme was “Public Policy.” The event sponsors included StataCorp, Northern Kentucky University Center for Economic Education, and the University of Kentucky Institute for the Study of Free Enterprise. At the end of the final day, the students presented their results. Students also heard presentations from industry leaders about how they use economics and data analysis at their firm. The event included opportunities for students to build lasting personal and professional connections with peers and businesses in the region.

Dr. Bender commented, “I think the important lesson from this experience is that students learned what professional economists do in the real world. They had to not only analyze a complex data set, but they needed to draw conclusions from the data, then link the conclusions to policy implications. This effort required students to draw from all of the classes they have taken while at Allegheny to compete.”

Three Allegheny teams took on the challenge:

Quigleys	StataGators	Investigators
Sarah Schmidt George Ackerman Megan Dennis Clarissa Miller Wonjoon Cho	Morgan Douglas Kyrie Doniz Kaleel Van Voorhees	Adriana Solis Zachary Ioli Kevin Lee Noah Tart Maya Ginter-Frankovitch

For more information or to express interest in future participation or sponsorship, email Professor Kathryn Bender, faculty advisor, kbender@allegheny.edu.

Sixteen Gators Earn Bloomberg Certification

By Beth Ryan December 1st 2020

Quigley Hall is the home to the Bloomberg Lab at Allegheny College

During the fall 2020 semester, sixteen Allegheny College students distinguished themselves by completing BMC Certification in the Bloomberg Lab located in Quigley Hall. By taking the Introduction to Bloomberg Terminals Course, students received an introduction to financial markets, benefiting from faculty guidance and instruction throughout the process. With on-campus course integration, students learned how to use important analytical functions in the terminal, conduct economic research and analysis, and benefit from a wide-range of pre-built analytical models.

Adapting to the “new normal’ while earning certification

According to Assistant Professor Tim Bianco, “The students thrived taking the Bloomberg course during the pandemic, even those attending remotely. Those taking the course in person were able to get the desirable hands-on training in Bloomberg as usual. Even those taking the class remotely thrived. We adapted by using more case studies and discussing current topics regarding the markets and Covid-19. The remote students are eager to get back to campus soon, and when they do, they will already have a new set of skills using Bloomberg.”

Bloomberg certification is a globally recognized credential, giving students a competitive edge when looking for post-graduate opportunities in banking and finance. The Bloomberg Market Concepts (BMC) is a course that provides an interactive introduction to the financial markets. BMC consists of 3 sections — Core Concepts (includes four modules – Economic Indicators, Currencies, Fixed Income, Equities), Getting Started on the Terminal and Portfolio Management.

Students who completed certification in the fall include:

Ariana Clark	Chukuwuebuka Oradubanya	Conner Mastalerz
Kaylin Tang	Harley O’Brochta	Marcus Wolf
Morgan Douglas	Nolan Thompson	Noah Tart
Jacob Dukman	Logan Chisholm	Matthew DelRosso
Maxwell Hammond	Nazareth Greer	Ryan Hiltz
Shawn Stelling

The Bruce R. Thompson Center for Business and Economics is home to the Bloomberg Lab at Allegheny College. When hiring new employees, businesses involved in banking and finance are looking for students skilled in utilizing the Bloomberg terminal to conduct research using the world’s most valuable tool in banking and finance. Allegheny’s Bloomberg terminals teach students to access and analyze real-time data on every market, discover breaking news, perform in-depth research and take advantage of sophisticated communications tools.

Research in Economics: Is Tourism good for Locals? Evidence from Barcelona

By Beth Ryan November 19th 2020

The Bruce R. Thompson Center for Business & Economics welcomed Dr. Rocio Medere, Assistant Professor of Economics, Southern Methodist University on November 4. Dr. Medere is the economist who asked the research question, “Is tourism good for locals?”

According to Dr. Meder, “We embed a Ricardo-Viner framework into a rich urban geography and show that the welfare impact of shocks depends only on (1) the spatial patterns of consumption and income; and (2) the price and wage effects of the shock throughout the city. We use spatially disaggregated consumption and income data to estimate the price and wage effects of Barcelona’s tourist boom.” You can view her lecture here on YouTube.

The research identifies these effects using an identification strategy based on monthly variation in the aggregate composition of tourists’ origin. On average, local workers suffer slightly from tourism, but these average effects mask substantial heterogeneity across space, ranging from a -19 to a +4 percent welfare change between low and high tourist seasons. The inner city residents bear the largest price changes but enjoy the largest income gains, whereas peripheric neighborhoods suffer lower but sizable price changes with none to moderate income benefits.

The Bruce R. Thompson Center for Business and Economics organizes faculty seminars to provide Allegheny College and visiting faculty the opportunities to give presentations based on their research agendas. Students, faculty and staff attend to learn more about cutting-edge research.

How can a student discover a career in the NFL? Isaac Gittens ’14 can help

By Beth Ryan October 16th 2020

On October 22, the Bruce R. Thompson Center for Business & Economics welcomed Isaac Gittens ’14, Senior Program Coordinator at the National Football League (NFL) who presented “Building a Career in Sport.” Isaac shared his journey from Allegheny College to the NFL, using Twitter and showing up when unexpected. How can a student discover a career in the NFL? Isaac can help.

According to Isaac, there are 4 must-have skill sets for a successful career in the NFL:

Excellent presentation skills – be prepared to present at a high level.
Organizational skills.
Interpersonal communication skills- the ability to work with all kinds of people.
Time management skills – everything moves very fast in the sports universe.

View Isaac’s presentation here on YouTube

Isaac Gittens joined the National Football League in 2016 in Player Engagement. After serving two years in PE he transitioned to the Y&HS Football department in Football Operations. A New Jersey native, Isaac earned a bachelor’s degree in managerial economics from Allegheny College and master’s in sport management from Baylor University. During his time at Baylor, he served as a graduate assistant at the American Football Coaches Association (AFCA).

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.

Stretching your Degree and Resisting Prescription: Defining your Path and Taking the Road Less Travelled

By Beth Ryan October 15th 2020

Denise Jones ’13 returned on Wednesday, October 14 to discuss her unique journey from Allegheny to the University of Michigan, where she is currently pursuing her Ph.D. in Public Health, Education, and Psychology.

In her conversation, she addressed

Her experiences as one of the only black female Economics students in the Department, and how she cultivated mentorship relationships that assisted her in pursuing work that mattered,
How to utilize one’s Economics Degree as a means to an end, and not the end itself,
The value of an Economics Degree in non-traditional careers,
Why students should “resist” prescriptive career routes and think more openly and creatively about connecting one’s academic training with their passions and purposes,
The importance of doing the “unglorified” work.

Click here to view Denise’s presentation on YouTube.

Denise Jones is an educator, scholar, student advocate, and non-profit leader with over six years of practical and professional experience. Upon graduating from Allegheny College with a degree in Economics and Black Studies, Denise set out to transform the lives of students as a classroom educator in San Antonio, Texas. There, she facilitated the learning of over 180 6th – 8th graders in the subject areas of English, Mathematics, Social Studies, and AVID.

During her time, Denise taught dedicated scholars who, despite their difficult circumstances, invested in learning and growing academically and personally. While she received great joy from her students’ growth and development, Denise recognized that she and her students’ commitment to learning were not enough to break the cycles of poverty and oppression that impeded their successes. Her frustration with the school system’s approaches to addressing inequities and disparities led Denise to pursue a master’s degree in Education Policy from Columbia University’s Teachers College (TC).

As a TC student, Denise amalgamated her practical classroom experiences with theoretical training and utilized her students’ unique stories and experiences to cogitate sustainable solutions to our educational system’s most critical problems. Denise also taught adult student learners and supported their journeys toward obtaining their general education diplomas. Beyond this, Denise worked with distinguished faculty from Columbia and NYU on research projects involving school choice, teacher evaluation, and student health.

These diverse experiences informed Denise’s graduate studies and further catalyzed her interest in
exploring out-of-school and summer-time learning, peer mentoring, and educational inequity.
Denise returned to Youth Enrichment Services (YES), where she currently serves as the Assistant
Executive Director, once she completed her master’s degree. What started out as a three-month summer
appointment turned into four years of youth engagement, student advocacy, program implementation,
strategic planning, non-profit leadership, and community-based research.

Denise’s time at YES has been extremely fulfilling as she has collaborated with partners and stakeholders to move the grassroots non-profit forward, remained actively involved in research and scholarship that has led to national and international conferences and publications – with the most recent in the After school Matters Journal – developed meaningful youth enrichment opportunities that impacted the health of local communities, increased the programming scope and budget, co-facilitated sessions empowering African scholars and female entrepreneurs in Zimbabwe, committed to the professional growth and development of her colleagues, and supported the collegiate journeys of over 30 youth.

Looking Towards the Future

While her work at YES has been extremely rewarding, Denise is ready to connect her grassroots efforts to
the academy to support youth far beyond YES. With the help of scholars at Michigan, Denise hopes to
continue testing YES’ mentorship model and building the case for how community-based practitioners can
help underserved students in out-of-school learning spaces. Denise is eager to explore how to embolden
students from inner-city, low-income communities to shift their mindsets about themselves and to look
inward in a way that connects them to their life purposes and elicits their sense of civic responsibility to their communities.

Denise is especially interested in investigating the factors that youth identify as important to navigating the craziness of their communities and to persisting through their often disturbance-ridden secondary institutions. Denise is also interested in examining the relationship between mentorship and motivation and how this effects youths’ college access and persistence. Ultimately, Denise’s work is youth-
centric and multidisciplinary in nature as it combines a host of disciplines and academic thoughts.

Denise foresees her future as a researcher pursuing solutions and strategies to ameliorate the challenges
that persist in urban communities and schools. Upon obtaining her PhD, she fully anticipates leading – and using – research to better serve youth. Her role will be that of changing lives, building wealth, and
empowering the community, as she believes the community is the unit of change – it builds the knowledge
and then informs the academy.

Denise is excited to join a unique cohort of scholars whose alliance is critical in advancing education policy issues.

This presentation is sponsored by the Womxn in Economics Club at Allegheny College. Please email womxninecon@allegheny.edu for more information.

Marketing Monday – John Paul Marcantonio ’01

By Beth Ryan October 14th 2020

On October 5, the Bruce R. Thompson Center for Business and Economics welcomed John Paul Marcantonio ’01, Chief Executive Officer and Managing Director of Gale Pacific Ltd. John Paul will share his Allegheny journey and how his company has adapted during the ongoing pandemic.

GALE Pacific Limited (GALE) is a trusted leading global marketer and manufacturer of branded screening and shading products for domestic, commercial and industrial applications. The company has recently introduced GALE Guard reusable face masks to meet the public’s needs for face masks with antimicrobial treated fabric.

Click here for John Paul’s Presentation on YouTube

John Paul joined GALE Pacific in October 2017 as the General Manager of the Americas business. He was appointed Chief Executive Officer in November 2019 and was appointed as Managing Director in August 2020. John Paul has extensive experience working across both consumer and commercial products sectors globally. Prior to joining GALE Pacific, John Paul built an impressive career at Newell Brands in roles of increasing responsibility in marketing, sales and management over fifteen years.

John Paul lived and worked in Melbourne, Australia for several years as the Regional Marketing Director of Newell Brands’ APAC hardware businesses and has held multiple global product and brand marketing leadership positions over his tenure. In his last role before joining GALE, John Paul served as the Global Vice President of Marketing for the Rubbermaid brand.

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.

Allegheny Students Earn Bloomberg Certification

By Beth Ryan April 8th 2020

Students with Bloomberg Certifications Have a Competitive Edge in Rapidly Changing Economy

During the spring 2020 semester, Assistant Professors Timothy Bianco and Michael Michaelides launched a new course, Introduction to Bloomberg Terminals. This course is an interactive introduction to financial market analysis using a mix of Bloomberg modules and in-class software-based exercises. Students are exposed to key properties of financial data and applications to prepare for careers in financial institutions.

The first group of Allegheny College students who completed the course earned their Bloomberg certification in the Center for Business and Economics Bloomberg Lab. The Bloomberg Market Concepts (BMC) is a course that provides an interactive introduction to the financial markets. BMC consists of 3 sections — Core Concepts (includes four modules – Economic Indicators, Currencies, Fixed Income, Equities), Getting Started on the Terminal and Portfolio Management.

According to Gene Natali ‘01, CFA, CEO and Co-founder of Troutwood, a financial services and technology company, “I am pleased to see the College’s inclusion of this important certification! Efforts like this help to differentiate students pursuing internships and graduates looking for that first job. Great work to Allegheny and to all faculty involved in making this happen. Most importantly, congratulations to the 19 participating students!

These students can now use their certificates to demonstrate market and industry knowledge that will give them the edge in the competitive job market:

Lancaster Wu, Matt Massucci, Shannon Putnam, Alexander Lawson, Christian Geer, Rafael Balanquet, Trevor Day, Victoria Vradenburg, Anh Ta, Kevin Lee, Rachel Tobler, Alex Abadi, Samantha Valera, Robert Crowe, Emma Black, Logan Zorilla, Daeson Gibbs, Andrew Ferguson, and Cheyenne Wilson.

Reference: Top Ten Student Uses; A Bloomberg Professional Offering

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 Anatomy of a Recession

By Beth Ryan January 6th 2020

How close could we be to the next recession —and what should we watch for in the months ahead?

John Kutz ’83
Allegheny College Trustee
Sales Director, Legg Mason

The Bruce R. Thompson Center for Business & Economics will open the spring semester Lunchtime Learning lecture series by welcoming John Kutz ‘83, Sales Director for Legg Mason, who will present Anatomy of a Recession, an exploration of the important questions that can impact everyone’s financial health:

How close could we be to the next recession?
Will growth hold steady, weaken or pick up by the end of the year?
What factors are most important to watch to help keep people on track?

Students of all majors are encouraged to attend on Thursday to widen their appeal as potential job candidates, according to Kutz, “Your ability to understand and be able to discuss intelligently current market conditions can provide you with a competitive edge in your job or internship search. Employers are seeking job candidates that have a grasp on capital markets and can discuss reasons for possible economic downturns and/or expansionary periods.”

Kutz will discuss capital markets and review where the US economy is relative to a possible recession. He will introduce a Recession Risk Dashboard and discuss the 12 key variables that tend to foreshadow economic downturn.

John Kutz is a Sales Director for Legg Mason serving the Ohio Valley region. John has been in the investment industry since 1998, and he joined Legg Mason in 2011. Prior to joining Legg Mason, John spent nearly 18 years with Victory Capital Management as Managing Director, Retirement Plan Services.

John received a Bachelor of Arts degree from Allegheny College and an MBA from Katz Graduate School of Business at the University of Pittsburgh. He is a Chartered Mutual Fund Counselor SM (CMFC®) and a recipient of the SPARK Accredited Retirement Plan Consultant (ARPC) designation. John also was recognized by his clients as a Top DC Wholesaler through the National Association of Plan Advisors’ Top 100 DC Wholesalers list (also known as the “Wingmen”) in 2014, 2015, 2018 and 2019.

John and his wife, Kathy, have three children, Allison, Maggie and Tim, and they live in Kirtland Hills, OH. In his spare time, John enjoys working out, golfing and biking. John currently serves on the Board of Trustees at Allegheny College.

The Lunchtime Learning Lecture Series provides students with opportunities to gain valuable information on topics and industries related to internships and careers. Speakers often choose one of two broad areas to discuss with students. The first is career oriented, and fits under our CBE CAREERS lunches. The second is issue oriented, and fits under our CBE IDEAS lunches. Both topics enable students to navigate and explore job options, understand the steps necessary to pursue opportunities and how to self-advocate for opportunities in the workplace.