Greetings from the Department Head
Greetings, and welcome to the Eastern Michigan University Department of Economics Annual Alumni Newsletter for the 2023-24 academic year!
I’m James Saunoris, Professor and Interim Department Head, and I’m excited to share highlights and achievements from an impactful year for our department. This year, we undertook significant and exciting changes to enhance the quality of our programs and better equip our students with competitive job-market skills. We revised both our undergraduate and graduate programs to include advanced data analysis training and introduced a new undergraduate capstone course, allowing students integrate their learning in a final research project. These important changes would not have been possible without the leadership of Professor Elias during his time as Interim Department Head. I would like to thank both Professor Chris Elias and Professor Peter Higgins for their dedicated service as Department Heads over the past year.
Despite challenges posed by enrollment trends, faculty transitions, and the rapid growth of technologies like Artificial Intelligence and Large Language Models, our department remains committed to student success. We are currently navigating the College of Arts and Sciences’ reorganization, viewing it as an opportunity to strengthen our foundation and create new possibilities for our students and faculty.
We are proud of our department’s strong research productivity, with eight papers published or forthcoming this year. A highlight includes our newest faculty member, Professor Matthew Schaffer, publishing in the prestigious Journal of Money, Credit and Banking. Professors Putz, Shaffer, and Yaya each received Summer Research Awards this year, and Professor Yaya was also granted a one-semester sabbatical to pursue his exciting research. Our students have also excelled in research. Recent MS in Applied Econometrics graduate, Daniel Gyimah, co-authored a paper with me that was accepted in Contemporary Economic Policy. Another student, Caleb Mathison, presented research (co-authored with Professor Jenni Putz) at both the Graduate Research and Creative Activity Conference and the Midwest Economic Association Conference. Furthermore, undergraduates Cedrick Charles and Adriana Henriquez Mora presented their research at the Undergraduate Symposium.
Throughout the year, we hosted several enriching events, including a visit from representatives of XPO Logistics, who shared exciting job and internship opportunities with our students. Our Economics Club and Women in Economics Club were also highly active, organizing a variety of events that engaged and supported our students’ academic and career interests. This momentum carried into our annual Celebration of Student Achievement, where we recognized many students for their outstanding work with departmental awards, scholarships, and accolades. We also proudly inducted five exceptional students into EMU’s Eta chapter of Omicron Delta Epsilon, the International Honor Society in Economics, celebrating their well-deserved recognition.
This year, we also celebrated the retirement of Professor Abdullah Dewan after 36 years of dedicated service. We are deeply grateful for his many years of commitment to our department and students.
Finally, I want to extend my heartfelt thanks to our alumni for sharing their experiences and insights with us. Your successes and advice are invaluable to our students. Thank you as well to our generous donors; your contributions help our students reach their goals and have a lasting impact on our mission. If you would like to contribute to the department please see the following link, we are all grateful for your contributions.
Congratulations to all our graduating students, we wish you every success in your future endeavors!
Faculty News and Updates
Economics faculty continued its impressive record of research, publications, and presentations during the 2023-2024 academic year.
Faculty Publications
Saunoris, James “Exploring the Nexus of Occupational Licensing and the Shadow Economy: Evidence from U.S. States”, with Daniel Gyimah (2023 MS, Applied Econometrics), forthcoming in Contemporary Economic Policy.
Saunoris, James “Do corrupt governments use more cryptocurrency? The intermediary role of the underground economy”, with Aziz Berdiev and Rajeev Goel, forthcoming in The American Journal of Economics and Sociology.
Saunoris, James. “Informal employment and corruption: Differences across gender and industry”, with Rajeev Goel and Aziz Berdiev, Managerial and Decision Economics, 45(4), 2024, 2066-2086.
Saunoris, James. “Individualism, economic freedom, and the development of the shadow economy”, Economic Systems, 48(1), 2024, 1011168.
Saunoris, James. “Supply chain constraints and research spending: An international investigation”, with Dirk Dohse and Rajeev Goel, forthcoming in Journal of Technology Transfer.
Schaffer, Matthew. "Financial Liberalization, Credit Market Dynamism and Allocative Efficiency" with Ana Maria Herrera and Raoul Minetti, accepted at the Journal of Money, Credit and Banking.
Schaffer, Matthew. "International Monetary Spillovers to Frontier Financial Markets: Evidence from Bangladesh" with Md Rashedur Rahman, accepted at International Finance.
Schaffer, Matthew. "Spectral Density Estimation for Random Processes with Stationary Increments" with Wei Chen, Chunfeng Huang, and Haimeng Zhang, accepted at Applied Stochastic Models in Business and Industry.
Faculty News & Research
Jenni Putz presented "Did the USDA Fresh Fruits and Vegetables Program Improve Student Performance? Evidence from Illinois Elementary Schools" at Midwest Economic Association (MEA) Conference
Jenni Putz was rewarded the summer research award for Summer 2024. Title: “Shedding Light on PCBs: Analyzing PCB Fixture Replacement and Academic Achievement in New York City Schools.”
Matthew Schaffer presented "Quantitative Easing, Bank Lending, and Aggregate Fluctuations" at the Fall 2023 Midwest Macroeconomics Meetings hosted by Texas Tech University.
Matthew Schaffer presented "Monetary Policy Transmission Under Supply Chain Pressure" at Central Michigan University in April 2024.
Matthew Schaffer was rewarded the summer research award for Summer 2024. Title: “Quantitative easing and the pandemic housing boom.”
Mehmet E. Yaya was awarded the summer research award for Summer 2024. Title: State Policies on Alcohol Use among Pregnant Women and Infant Mortality Rates.
Mehmet Yaya was recognized as a semi-finalist for the Fulbright Scholarship with his research proposal exploring Syrian refugee adoption in Turkey.
Mehmet E. Yaya received a one semester sabbatical for Fall 2024. Title: Syrian Refugees in Turkey: Measurement of their Adaptation and Assimilation.
Retirement
Abdullah Dewan
After more than thirty-six years at EMU, Dr. Abdullah Dewan retired effective August 31, 2024. During the October 2024 meeting, the Board of Regents at Eastern Michigan University approved his emeritus status.
Dr. Dewan received his PhD. in economics from the University of Kentucky, and his primary fields of research and teaching interest were macroeconomics and monetary economics. He has had multiple papers published in well-regarded peer reviewed journals, and he served the Economics Department for a time as Interim Department Head.
Professor Dewan has taught courses in principles of macroeconomics and microeconomics, intermediate macroeconomics, managerial economics, international economics, money and banking, and time series analysis and forecasting.
Student News
Two students presented their work at Undergraduate Symposium:
- Cedrick Charles presented his project "Assessing the Impact of the Great Recession on the Rust Belt States: A Policy Analysis." Faculty Mentor: Amanda Stype.
- Adriana Henriquez Mora presented her project “Coming Around: A Cost-Benefit Analysis of The Vegas Loop." Faculty Mentor: Jenni Putz.
Coming up in 2024-25, the department will field a team of students in the 2024 College Fed Challenge. Dr. Matthew Schaffer will serve as faculty advisor.
At the Graduate Research and Creative Activity Conference, Caleb Mathison presented his co-authored paper with Dr. Jenni Putz.
Caleb Mathison also presented this research at the Midwest Economics Association conference in Chicago.
Second-year Presidential Scholar Rowan Moxley – who plans to pursue the combined BS/MS in Quantitative Economics – was awarded a Critical Language Scholarship (CLS) to study Chinese at National Cheng Kung University in Tainan, Taiwan during the summer of 2024. The CLS program receives approximately 5,500 applications annually from across the country and only 500 of those applicants receive the scholarship.
"After earning my degrees at EMU, I intend to pursue a Ph.D. in economics and then become a research econometrician at the Federal Reserve," Moxley said. "Speaking Chinese will be one of the most useful skills going into my future. In both speaking Chinese and having connections and cultural experience in a Chinese-speaking nation, I bring a level of expertise that any firm dealing with Chinese issues of American concern would value. Being a Chinese-speaking econometrician with a Ph.D. positions me as a prime candidate to research monetary policy in China and its impact throughout the world."
Congratulations Rowan!
2023-2024 Celebration of Student Achievement
The Department of Economics hosted the Celebration of Student Achievement at the Student Center on April 11th to honor and recognize student accomplishments throughout the year.
Valentine Calderon Perez and Josefine Larsen jointly received the 2024 Donald W. Pearson Award. Caleb Mathison was the recipient of both the Department of Economics 2024 Gary E. Murg Award and the Department of Economics 2024 Bruce C. Gockerman Award.
Adolf Avuletey received the Graduate STEM in Economics scholarship, and Valentina Calderon Perez received the Undergraduate STEM in Economics scholarship.
Graduate student Daniel Adubiri Gyimah was recognized for having the highest graduate grade point average, and Alyssa Kettunen was recognized for the highest undergraduate GPA.
Graduate assistants and club officers were recognized for their service to the department, and students with superior academic achievement were also highlighted. Congratulations and job well done to all our hardworking students on their success.
Omicron Delta Epsilon Honor Society
During the 2023-24 academic year, five students satisfied the requirements to become members of the Omicron Delta Epsilon Economics Honor Society. Students were inducted and received membership scrolls at the Celebration of Student Achievement in April.
Congratulations to the Eastern Michigan University 2024 ODE Inductees:
- Valentina Calderon Perez
- Marius Martello
- Zahirah Paul
- Harrison Schroeck
- Calvin Sears
Graduates
Congratulations and best wishes to all of the 2023-2024 Department of Economics graduates!
Fall 2023
- Daniel Adubiri Gyimah, MS Applied Econometrics
- Marcus Lockett, MA Economics
- Nathan Roberts, MA International Economics & Development
- Brendan Hillyer, BA Economics
Winter 2024
- Attoumane Montassar, MS Applied Econometrics
- Zarina Nurmanova, Combined BS & MS Quantitative Economics
- Rebekah Arcilla, BS Quantitative Economics
- Cedrick Charles, BS Political Science with minor in Economics
- Adriana Henriquez Mora, BS Quantitative Economics
- Anagha Kiran, BS Quantitative Economics
- Casey Klobucar, BA Economics
- Harrison Schroeck, BA Economics
Summer 2024
- Scott Guthre III, BA Economics
- Pedro Martinez, BS Quantitative Economics
- Tatyana Nyanchama Nyambane, BBA Economics
Recent Graduates
This year we asked recent graduates and alumni about their experiences at Eastern, about their careers, and about the skills and disciplines they use every day.
Alumni Updates
Would you like to share your story on the department website or in a future newsletter? Please fill out the alumni survey here.
Memories
Melek Acikbas kindly shared these photos of her time in Economics at Eastern in the early 1990s, noting: "I would like thank to Dr J. Edgren for hiring me as Tutor for four semesters. Dr. Hanna was my Advisor. He was very helpful and friendly to all the students. I visited Dr. Yaya and EMU campus with my son during Christmas break in 2022. He had kindly welcomed us."
Stay in touch
Email us: emu_econ@emich.edu
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