Category Archive: Uncategorized | Business and Economics

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Lucia Jueguen ’24 Shines during her New York City Summer Internship

By Beth Ryan September 6th 2023

Lucia Jueguen at her internship location in New York City

CBE Fellow Lucia Jueguen ‘24 is an International Studies and Business Double Major, Arabic Minor. This summer she served as an intern at BNP Paribas, in New York City.

We asked Lucia…

How did you find my summer internship?

An Allegheny Alum worked there and referred the opportunity to our Career Education team.

What were your duties?

I worked for the Group Financial Security team. Essentially, our team was tasked with US sanction compliance across all business lines/operating divisions of the BNPP Group. My main project for the summer was an internal auditing review.

Would you recommend the experience to other students?

YES! I would recommend working for BNP because of many reasons. It is the perfect way to get exposure to the finance industry, especially the location at their headquarters in NYC. They provide a good introduction and transition process for incoming interns, making us feel empowered doing actual work while getting support from HR, our managers, and other peers in our department. I had the opportunity to network and go on coffee chats with most of the people in my department! They also have a direct hire program for summer interns, including sponsoring visas for international students.

A Global Citizen Scholar, Lucia Jueguen is a Resident Advisor and CBE Fellow. She is a member of the Omicron Delta Epsilon, International Honor Society in Economics, and Pi Sigma Alpha, The National Political Science Honor Society.

The Bruce R. Thompson Center for Business and Economics (CBE) prepares Allegheny College students to succeed in a diverse, global economy.

CBE Fellow Andrew Strobel Discovers Endless Opportunities in the World of Finance

By Beth Ryan August 1st 2023

Andrew Strobel ‘24 is an Economics Major / German Minor interning this summer (2023) at Thermo Fisher Scientific in Pittsburgh. — Andrew Strobel (far left) with the summer of 2023 Thermo Fisher Scientific Intern Group

Andrew Strobel ‘24 is an Economics Major / German Minor interning this summer at Thermo Fisher Scientific in Pittsburgh. We asked Andrew….

How did you find your summer internship?

I found my summer internship through a LinkedIn search in September. I was looking for finance internships in and around Pittsburgh. In fact, I would encourage students seeking internships to start early, it pays off! I am a FLDP (Financial Leadership Development Program) intern on the reporting and analytics commercial finance team.

What were your duties?

I was able to work on 2 projects this summer. The first project involved analyzing customer contracts for information regarding our customer incentive program. The commercial finance team typically tracks payments that we have to issue to customers during the course of the year manually, but our team is transitioning to a new application developed in-house in conjunction with IT. I helped input important contract information so that this process will be automated for over 90% of the payments that we make.

In a similar way, I helped the cash applications team by analyzing customer contracts for prompt payment discounts. Prompt payment discounts are given to customers who pay their invoices early (i.e. 1% 10 Net 30). This discount helps incentivize customers to pay, which in turn speeds the company’s cash flow.

The interns were required to participate in a volunteer opportunity together this summer with the caveat that we were to take responsibility for planning and choosing the opportunity. I led the interns in the planning and execution of the event– we volunteered at the Greater Pittsburgh Community Food Bank in their new venture, The Market. “The Market, in partnership with Giant Eagle, offers a grocery store-style experience providing shelf-stable, meat, dairy, fresh produce and non-food grocery items as well as connections to additional resources for help.”

My day-to-day responsibilities involved daily/weekly reporting. The most important report I sent out to leadership was the daily sales performance of one of Thermo Fisher’s North American Business segments.

Would you recommend this experience to other students?

I would highly recommend this experience to any Allegheny student. This opportunity provided me with so much information on corporate finance, the opportunity to learn new softwares, networking opportunities, and work experience as a team and as an individual in a short amount of time. Thermo Fisher Scientific offers opportunities in many different locations around the US, so if you are geographically flexible, it is a great chance to work in a different city. It also provided me with some knowledge that finance isn’t just stocks and bond pricing; there are endless opportunities in the world of finance.

Andrew is a CBE Fellow, Vice President of Delta Tau Delta, a member of the Men’s Soccer Coaching Staff, and is in the process of trying to start a pickleball club!

The Bruce R. Thompson Center for Business and Economics (CBE) prepares Allegheny College students to succeed in a diverse, global economy.

Allegheny Students Honored for Scholarship in Economics

By Beth Ryan March 26th 2023

Omicron Delta Epsilon (ODE) is the international honor society in the field of economics. The primary purpose of ODE is to recognize outstanding academic achievement in economics, especially at the undergraduate level.

How do students qualify?

Students are invited to join the society each Spring if they meet the academic criteria set by the international organization. The minimum requirements for admission are completion of 12 credit hours of economics courses, attainment of a GPA of 3.0 or better in economics courses, and an overall GPA of at least 3.0.

Newest members of the Allegheny College Omicron Delta Epsilon chapter

During our Spring 2023 event, we welcomed the newest members of the Omicron Delta Epsilon Honor Society:

Robert Amsdell	Patrick Hogan	Reece Smith
Bergas. Anargya	Dagney K. Javes	Margaret L. Todd
Tergel Buyanbat	Kenneth C. Johns	Patricia J. Todd
Jenna E. Halenda	Lucia Jueguen	Preston A. Turk
Carter J. Hassenplug	Kevin Lee	Isabelle R. Wakefield

Why study economics?

This year, Professor Emeritus John Golden provided the opening remarks sharing with students the history of economics, the benefits of the discipline and the many career trajectories made possible by the study of economics. He explains:

“Given the wide-ranging diversity of interests among economists, it is no surprise that this discipline provides undergraduates with many subsequent career options. Many find employment in the private sector, especially in banking. For those interested in working in this industry, consider taking a course in finance. Also, internships are helpful in exploring post-undergraduate careers. You may enjoy a subject intellectually, but perhaps would find a daily routine and/or colleagues not to your liking.

Better to find out sooner — via an internship — than later.

Another employment possibility is a non-profit organization devoted to a cause in which one truly values, such as green energy solutions or fighting poverty. An additional career option is to become an entrepreneur who creates his or her own business in either the private or non-profit sector.”

The Bruce R. Thompson Center for Business and Economics (CBE) prepares Allegheny College students to succeed in a diverse, global economy. Learn more at allegheny.edu/cbe

CBE Summer Experiences with Ebrima Darboe ’23

By Beth Ryan September 26th 2022

Ebrima Darboe ’23 is continuing his summer internship as a Global Supply Chain Analyst at pharmaceutical giant, Pfizer. The internship was originally hybrid with the New York office, and is currently continuing as a remote experience. We asked Ebrima:

How did you find your internship?

Ebrima: I first learned about Pfizer during the pandemic and discovered that the company positively impacts lives while being dedicated to fostering an inclusive and collaborative work environment for colleagues. I found this internship opportunity on the Allegheny College Handshake Platform.

What were you doing during this experience?

Ebrima: This summer I had the unique opportunity to gain knowledge in the global supply chain within Pfizer. As a Global Supply Chain Analyst my team and I collaborated on global supply chain business initiatives, with an emphasis on sustainability and risk management. I worked on various projects, strengthening my data analytics skills to understand waste and risk levels associated with different Pfizer products.

Additionally, this internship allowed me to strengthen my business acumen and expand my professional network. I valued being a part of one of Pfizer’s College Resource Groups, the Global Black Community. My participation in the GBC allowed me to connect with other GBC Pfizer interns and professionals, be paired with a mentor, and have access to professional development opportunities. This internship experience provided me with the opportunity to gain meaningful work experience, and now I can see a potential career in the industry.

Would you recommend this internship to other students?

Ebrima: I would highly recommend this internship to other students, so they can explore their potential career interests and gain experience to broaden their skills and network.

Ebrima is an Economics major and Community and Justice Studies minor scheduled to graduate in May 2023. He is the President of the Men of Color Advancement Association and a member of the African Student Association and Islamic Cultural Association. Additionally, he a member of the IDEAS center and participates in intramural basketball.

Studying economics at Allegheny College teaches students how people respond to incentives in making choices, and how those choices affect outcomes at both the micro and macro scale. A microeconomist might study how a firm or a family chooses to finance a new piece of equipment or a home purchase. A macroeconomist might study how a change in interest rates affects economic growth, unemployment, or the balance of trade. Community and Justice Studies (COMJ) investigates challenges facing communities, analyzes key methods of social action, develops ethical reasoning, and directly engages students in responsible engagement in our community. Community and Justice Studies offers students an intellectual framework for understanding social systems, structures, movements and how these shape society, especially in relationship to power and oppression.

Morgan Douglas ’23 embarks on the next step of her journey to CMU

By Beth Ryan September 12th 2022

This fall, CBE Fellow Morgan Douglas ‘23 entered Allegheny College’s signature 3 + 2 program at the Heinz College of Carnegie Mellon University to pursue a M.S. in Information Security Policy & Management. During her summer experience at the IT Lab: Summer Security Intensive, Morgan credits her major/minor combination of Economics, Math and Computer Science as the key to thriving during this challenging experience. To learn more, we asked…

Why did you choose the CMU 3 + 2 program?

Morgan: I chose the 3+2 program with Carnegie Mellon University – specifically the Master of Science in Information Security Policy & Management – because it allowed me to combine my love for economics, computer science, and mathematics. At CMU, I will gain technical and managerial knowledge to combine with my knowledge of economics to solve cyber challenges. Attending a school that is designated as a National Center of Academic Excellence in Cyber Defense by the National Security Agency and the U.S. Department of Homeland Security, learning from leading practitioners from the internationally renowned CERT Division of CMU’s Software Engineering Institute, is a once in a lifetime opportunity. I am grateful to be able to learn at not one, but two prestigious institutions.

I will receive funding for my Master’s degree through the Department of Defense’s Science, Mathematics, and Research for Transformation (SMART) Scholarship. In return, I will receive mentoring throughout my academic experience, complete a summer internship, and then work full-time upon completion of my degree at the National Geospatial-Intelligence Agency (NGA) in a highly technical computer science role.

How did you find this opportunity? Did the fact that you were headed to the CMU graduate program impact your acceptance into your summer experience?

Morgan: I completed a summer fellowship at Carnegie Mellon University Heinz College’s rigorous IT Lab: Summer Security Intensive. As a fellow, I completed three courses (Cloud Security, Information Security Management, and Database Management & Security), had the opportunity to have lunch and learn sessions with leaders in Information Security in both the private industry and the U.S. government, and collaborated on deterrence research with the Department of Defense’s United States Strategic Command (USSTRATCOM) through the National Security Innovation Network (NSIN). The research question that my group and I studied and answered was – Given an economically constrained environment, what role does cyber play in deterrence theory? I am thankful to have had the opportunity to work with an amazing team, present our findings, and will soon publish our research through Carnegie Mellon University. I chose this summer fellowship over competing offers because I believed that it would best prepare me for graduate school, allow me to make many connections in the field of information security, and learn about different career paths within the field.

Would you recommend this type of summer experiences to other students? How should they prepare?

Morgan: The IT Lab: SSI fellowship is dedicated to rising seniors who have an interest in information security or cybersecurity. The program is rigorous, but very rewarding. Fellows get a glimpse of what it is like to be a graduate student at CMU Heinz College, what career opportunities are available, the connections needed to get to the desired position, and a collaborative research experience. The fellowship covers the costs of housing, meals, tuition, books, travel expenses, and a stipend. An interested student should check out their webpage and apply at https://www.heinz.cmu.edu/programs/itlab/. In addition, they should start preparing a clean resume, an intriguing personal essay that depicts why they have an interest in cybersecurity and cyber policy, and 2 recommendation letters. Students who successfully complete this program will be eligible for at least 50% off tuition for master’s programs at CMU’s Heinz College.

CBE Fellow Morgan Douglas is an Economics major with minors in both Math and Computer Science, scheduled to graduate in May 2023. Throughout her undergraduate career, she has earned recognition as a Distinguished Alden Scholar (High Dean’s List) and Lambda Sigma Honor Society, and is a member of Omicron Delta Epsilon, the International Economics Honor Society. Douglas has served as a Residential Advisor, Wealth Management Club Vice President and the Women in Business and Economics Club Treasurer.

Allegheny College’s signature Carnegie Mellon 3-2 Program

Allegheny College has a formal agreement with the Heinz College of Carnegie Mellon University to offer a 3-2 cooperative program. Students who enroll in this accelerated master’s degree program will complete three years of study at Allegheny College and two years at Carnegie Mellon University. Upon completion of this program, the student will receive both a bachelor’s and master’s degree in less time than is usually required to earn both of these degrees.

The Heinz College of Information Systems and Public Policy is home to two internationally recognized graduate-level institutions at Carnegie Mellon University: the School of Information Systems and Management and the School of Public Policy and Management.

Heinz College offers an accelerated master’s program to qualified Allegheny College students. The program, structured as three years at Allegheny College followed by three to four semesters at the Heinz College (depending upon program), allows students to earn both a bachelor’s and a master’s degree in less time than is normally required.

CBE Summer Experiences with Kevin Lee ’23

By Beth Ryan September 5th 2022

This summer Kevin Lee went to Wall Street as an intern at Barclays Corporate & Investment Bank, working as an Internal Audit Summer Analyst. Barclays Corporate and Investment Bank provides large corporate, government and institutional clients with a full spectrum of strategic advisory, financing and risk management solutions to help them innovate and grow.

How did the summer go? We asked Kevin…

How did you find your internship?

I’ve heard of Barclays and always wanted to work there, as it is one of the bigger banks on Wall Street. I discovered this and other internship opportunities via job notifications on LinkedIn, Google, and Glassdoor. I set the criteria for the type of internship that I was seeking so that new postings would be sent to my email. I believe that Google and LinkedIn notifications worked the best for me. I then applied to and prepared for every internship and interview opportunity that I received. I finally landed my summer 2022 internship at Barclays after applying to over 90 internships, and preparing for a bunch of 1st round interviews.

Furthermore, as I went about my summer, I learned that building a network is very important. On
top of the method, I mentioned above, I will emphasize sending cold emails to people that work in positions/ firms you will want to work for and ask for a phone call. Then, nurture the relationships with the people you enjoyed talking too. I emphasize this because having network connections is equally as important as applying.

What were you doing during this experience?

I got tasked with various projects that assessed the business environment within Barclays. One of
my favorite projects entailed auditing the U.S. Barclays branches regarding their controls for
financial crimes. I learned there are many different controls that mitigate this risk. Some controls
are related to assessing data for key reporting indicators, training, and key committees. I got the
opportunity to own the audit for the key governing committees that oversee the U.S. branches. I
researched, tested the data, interviewed key stakeholders, and wrote working papers to give a rating
to the efficacy of financial crime mitigation through the key committees. I also got to write two
global compliance update reports, which got published to the global Barclays Internal Audit
financial crimes, anti-money laundering, and compliance team. Outside of my work, Barclays
also provided volunteer events, so I also had the opportunity to clear out invasive species from a
park in New Jersey.

Would you recommend this internship to other students?

I would recommend this internship due to the fact there was never a dull moment. I was learning
new things every day and I was surrounded by incredibly bright, sociable, driven, and intelligent
people. The culture at Barclays is one of their greatest competitive advantages and I strongly
stand by this statement. I would look into applying to Barclays if you are looking for a career in
internal audit. Furthermore, there are a lot of transferable skills this department can offer. It will enhance your analytical, objectivity, business writing, and client facing skills. Internal audit can also lead into jobs such as transaction advisory services, which can then lead to other opportunities such as investment banking jobs.

Kevin Lee is a senior, majoring in Business and minoring in Computer Science, planning to graduate in 2023. This fall, he will serve as a teacher’s assistant/ tutor for financial accounting and will serve on the Wealth Management Club’s board as an investment fund associate and career coach. In his spare time, Kevin participates in the Volleyball Club, and Club Basketball.

Allegheny’s Business major is designed to help students gain a deep knowledge of the managerial and business concepts typically used by the business and non-profit world. The program also focuses on the tools, skills, and competencies needed to solve practical problems faced by organizations. The business majors from Allegheny will graduate with a strong liberal arts background enabling them to learn how they can use their financial success to serve humanity, make a difference in people’s lives and leave a legacy of success and service. Every business major is expected to engage in a mentored experiential learning project or activity – this may be satisfied by a study abroad program or an internship that exposes the student to cultural, civic engagement and global issues.

CBE Summer Experiences with Megan Dennis ’23

By Beth Ryan August 17th 2022

Megan Dennis hard at work certificate stacking over the summer

Megan Dennis ’23 was all set to study away this summer when plans went awry at the last minute, so what did our indefatigable CBE Fellow do next? Certificate stacking! “I focused on personal development, which included learning to code using R through Data Camp and completing certificates in data visualization and international marketing,” Dennis reported.

Megan, tell us more…

How did you find these opportunities?

Megan: “I found Data Camp by talking with my mentor; she had used the site and highly recommended it to me. After using Data Camp this summer, I definitely recommend it to anyone who wants to start learning about coding. The site does a great job offering a variety of courses and certificates and presents the information in an easily digestive way and allows practice alongside it.”

What did you learn?

Megan: “It really helped me strengthen my data analysis skills and broaden my perspective on how data can be leveraged to make better business decisions. I will be incorporating my new skills and knowledge into my senior research project.”

Would you recommend this strategy to another student?

Megan: “After using DataCamp this summer, I definitely recommend it to anyone who wants to start learning about coding. The site does a great job offering a variety of courses and certificates and presents the information in an easily digestive way and allows you to practice alongside it. My advice to others looking to gain or sharpen their technical skills is to just get started and try to find time to code every day, even if it’s just 15 minutes! ”

Megan Dennis is an International Studies and Business major, schedule to graduate in 2024. She is a CBE Fellow and belongs to Lambda Sigma, the International Club and the volleyball club team. She serves as the President of the Chinese American Friendship Society (CAFS). This summer, she earned certificates in Data Visualization, Intro to International Marketing, International B2B Marketing, International Market Entry and Execution, International Entertainment and Sports Marketing, and Social and Behavioral Research.

Allegheny’s Business major is designed to help students gain a deep knowledge of the managerial and business concepts typically used by the business and non-profit world. International Studies is an interdivisional, liberal arts program that endeavors to develop and relate those analytical skills most appropriate for the examination of increasingly complex interactions among nations and regions of the world. The program also focuses on the tools, skills, and competencies needed to solve practical problems faced by organizations. The business majors from Allegheny will graduate with a strong liberal arts background enabling them to learn how they can use their financial success to serve humanity, make a difference in people’s lives and leave a legacy of success and service. Every business major is expected to engage in a mentored experiential learning project or activity – this may be satisfied by a study abroad program or an internship that exposes the student to cultural, civic engagement and global issues.

Influencing Consumer Decision Making

By Beth Ryan January 27th 2020

The Bruce R. Thompson Center for Business & Economics welcomes Dr. Michael Barbera on Monday, February 3 at 12:15 pm in Quigley Auditorium. 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.

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.

Ryan Clydesdale ’20 Wins the Prestigious Cornerstones Summer Analyst position

By Beth Ryan August 19th 2019

Mathematics major with a double minor in Economics and Chemistry, Ryan Clydesdale ’20, was awarded the prestigious Cornerstone Research summer internship experience. According to Clydesdale, “and I had a great ten weeks as a Summer Analyst at Cornerstone Research. From gaining an understanding of the daily workflow of economic and litigation consulting, to acquiring some of the skills that come along with the job, and developing as a professional in general, I benefited immensely from this experience. I am now comfortable with coding in multiple programming languages, using Microsoft Office at a more sophisticated level, and collaborating with others to function as a productive member of a project team.”

Navigating the Application Process

To apply for this position, Ryan submitted his resume, transcript, and a cover letter to Cornerstone through Allegheny’s Career Education office. He was then called back for a phone interview, where he further discussed his interest and qualifications. The next step was a Skype interview, where he took part in two mock case studies. During the latter he was given background information on mock cases and the interviewers asked questions about his approach to investigation and analysis. As part of the process, Ryan was interviewed by multiple Cornerstone employees at various levels of management.

Cornerstone Research

Cornerstone Research is a leading economic and financial consulting firm specializing in the analysis of complex economic, financial, accounting, and marketing issues that arise in the context of various kinds of litigation. Cornerstone Research has 700 staff and offices in Boston, Chicago, London, Los Angeles, New York, San Francisco, Silicon Valley, and Washington.

Cornerstone Research values the professional growth of its summer analysts and recognizes their contributions to clients and the firm. Consequently, many summer analysts choose to join Cornerstone Research full-time upon graduation. The analytical depth of assignments, the breadth of industry exposure, and experience working in case teams offer outstanding preparation for analysts applying to top graduate programs in business, economics, and law, and for ensuing careers in consulting, finance industry, and academia.

Allegheny College is grateful for the many opportunities extended to our students by Cornerstone Research and their continued support of undergraduate experiential learning. The Bruce R. Thompson Center for Business & Economics works in partnership with Allegheny Career Education to mentor students on how to locate and apply for internships, secure housing and apply for funding sources to defray costs.

The Allegheny Wealth Management Club Seeks Students Who Want to Master Personal Finance

By Beth Ryan May 31st 2019

Under the guidance of Professor Michael Michaelides, students Rafael Balanquet ’20, Club President, and Trevor Day ’20, Vice President, have organized the department’s first wealth Management Club designed to give students a collaborative environment in which they can openly discuss and learn about topics relating to personal finance. The club will invite guest speakers, use simulations, and perform individual research in order to educate members about personal finance topics and how get a head start on managing their own money.

According to Balanquet, “While the club still is in an infant stage, we would like to insure that it continues to bring in students who are interested in learning about these topics in a rather relaxed environment. For this reason, we would like to have past executives and members alike to invest time into helping later generations of students through both alumni relationships with future employers, along with assistance in the actual club atmosphere itself. This will help develop topics and standards the club should abide by in order to get our aspiring financially conscious students a path in the right direction.”

There are no requirements for students to join the club other than a genuine interest in personal finance. The students have created an ambitious agenda to attack during the school year. Here is a small sample:

Each student will “adopt a company” in other words, pick a company, in whichever industry they like, and consistently provide up-to-date analysis of their company, such as news, public offerings, stock price changes, different business deals, etc. This will also include the key information on their most recent earnings call for the respective fiscal quarter.
“Index Watch” – Students in teams of two look at a certain index and report on the change in trading price and basis points each week.
Students can participate in a Mock Stock Market Game on the club website.
Students will learn how to perform a technical analysis to determine buy/sell states in securities
The group will conduct discussions of recent news stories relating to the economy.
The club members will reach out to alumni and external speakers to understand some of the more specific occupations in finance, such as CFP and CFA, and the process of them getting their designation (or pursuing) and their day to day activities and advice for the job market.

More information will be available at the beginning of fall semester, however students and alumni that would like to participate can email bryan@allegheny.edu for more information.