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From the Chair

Greetings, Duke Economics alumni! There have been several exciting things happening with the Department of Economics in the past year, including the arrival of new faculty, recently renovated spaces for the Duke Financial Economics Center and Development Research Lab, and a revamped website.

This past April, we held our first annual Duke Economics Social during the university's Alumni Reunion weekend. Those who came helped to make it a rousing success, and we invite you to attend the event in 2017. Additional information is forthcoming.

The alumni newsletter is our way of helping you stay connected with the department and the Duke Economics community. Have a question of suggestion for the newsletter? Please let us know.

Craig Burnside
Chair, Duke Economics

Featured Stories

Understanding Housing Booms and Busts

In his recently published paper, macroeconomist Craig Burnside examines how housing bubbles are escalated by the spread of misguided beliefs and impossible expectations. Burnside shares his insight into housing booms and busts and the current state of the housing market, and offers advice to prospective homebuyers.

How Technological Disruption, Not Trade, Doomed U.S. Steel Jobs

From 1962-2005, the U.S. steel industry cut 400,000 employees. The decline had massive effects; however, U.S. steel productivity grew and factory output increased by 38 percent. How? Professor Allan Collard-Wexler explains what the debate gets wrong about the industry

Alumni Spotlight: Juanita Kreps

Juanita Kreps’s (M.A '44, Ph.D. ’48) story reads like a Hollywood script: the Appalachian coal miner’s daughter who rises out of poverty, breaks through social barriers, and accomplishes great things. As part of a stellar career in business, academia, and government, she became the first woman and the first economist to serve as secretary of commerce. 

Duke Economics Celebrates Class of 2016 Graduates

The Department of Economics recognized 17 graduates with a Ph.D., 68 graduates with a Master of Arts of Economics, 10 graduates with a Master of Science in Statistical and Economic Modeling, 7 graduates with a Master of Science in Economics and Computation, and 205 graduates with an economics major.

In the News

Today's Artificial Intelligence Does Not Justify Basic Income

MIT Technology Review
Advances in artificial intelligence have raised concerns that most human labor will become obsolete, leading some to call for a universal basic income; however, Professor Vince Conitzer thinks otherwise.

Coding is the New Business Literacy

The Huffington Post/The Harbus
Alumna Andrea Coravos (B.S. '10), currently a student in Harvard's MBA program, dispels the myth that "business leaders don't need to be technical."

Proposed Subdivision in Durham Would Include Working Farm

News & Observer
Alumnus Rick Bagel (B.S. '08) is hoping to bring a new development to Durham that features 141 lots with homes priced from $275,000 to $899,000 and a working organic farm.

The Difference an All-White Jury Makes

The Washington Post
In the aftermath of a Supreme Court ruling against Georgia prosecutors who excluded black jurors and seated an all-white panel in a 1987 murder case, the Washington Post interviewed Professor Patrick Bayer on the "phenomenon" of all-white juries. 

2016 College Women of the Year: Suhani Jalota (B.S. '16)

Glamour Magazine
Recent graduate Suhani Jalota was a winner of Glamour magazine's top 10 college women competition. Jalota plans to use her winnings to expand her start-up, Myna Mahila Foundation, to other countries.

On Camera

Johnson Lecture Series: Rebecca Blank

Rebecca Blank, chancellor of the University of Wisconsin-Madison and former acting U.S. secretary of commerce, discussed the relationship between markets, government, and the church in a talk on March 30, 2016 at the Sanford School of Public Policy. 

Department Updates

New Master's Program Accepting Applications for Fall 2017

The M.S. in Quantitative Financial Economics (MQFE) is designed for students who are seeking the greater depth and rigor that are increasingly required by advanced academic programs, as well as in the private sector. This program is unique in offering advanced courses in volatility modeling, analysis of high-frequency data, and continuous time finance, as these are areas of expertise within the financial economics group at Duke.

New Faculty Members

Matthias Kehrig is a macroeconomist working on business cycles, uncertainty, and firm dynamics. His particular research interest focuses on how firms treat uncertainty, how firm-level differences shape aggregate outcomes, and how aggregate fluctuations in turn influence firm-level dynamics. He will be joining the department in January 2017.

Adam Rosen joined the Department of Economics having previously worked at University College London. Adam is an econometrician whose research focuses on micro-econometrics, in particular on the study of partial identification and associated challenges for inference. His research provides guidance on how economic models and data can be combined to learn about and measure quantities of economic interest in microeconomic applications.
Brian Weller joined the Department of Economics from Northwestern's Kellogg School of Management. His specialties are asset pricing and market structure, specifically as they relate to risk sharing and management. His research helps investors, regulators, and managers to evaluate and manage risks as well as to understand the tradeoffs involved in the technological innovations in financial markets.

Duke Economics Social Photos

View the album on Facebook.

Faculty Honors & Awards

Tim Bollerslev was named a fellow of the Society for Economic Measurement (SEM). The current list of SEM fellows includes more than 30 Nobel laureates, including Kenneth J. Arrow, Angus Deaton, and William F. Sharpe. Financial econometricians met in May to celebrate the 30th anniversary of his GARCH model.

Bruce Caldwell received the Manhattan Institute's inaugural Hayek Scholarship Prize, which recognizes scholarly work on F.A. Hayek.

Faculty from Duke's Center for the History of Political Economy — Bruce Caldwell, Neil de Marchi, and Roy Weintraub — won three of the five awards and honors presented at the 2016 meetings of the History of Economics Society.

Andrew Patton was named the Zelter Family Professor of Economics, a chaired professorship in financial economics.

James Roberts was appointed to an endowed professorship in the university's Bass Program for Excellence in Undergraduate Education.

Frank Sloan received the American Society of Health Economists' Victor R. Fuchs Lifetime Achievement Award for his contributions to the field of health economics.
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