University at Albany

Department News

Papenkov Selected as a Finalist in Undergraduate Paper Competition

Maksim Papenkov, who graduated in May 2019, is selected as a finalist for the International Atlantic Economic Society's 15th Annual Best Undergraduate Paper Competition. He is invited to present his research at the 88th International Atlantic Economic Conference in Miami, FL. He will be competing with three other finalists from Yale University, University of Pennsylvania and University of Southern California.

Professor Yue Li Wins NSF Grant

Professor Yue Li's project, entitled as "Collaborative Research: Lifecycle Savings and Retirement Planning," wins a grant sponsored by the National Science Foundation. The total amount of the grant is $13,906 through June 2021.

Department of Economics Launches New BS Program in Business Economics

The department is happy to launch our new program in Business Economics! Created in afilliation with the Massry Center for Business the new program is combined (major and minor) degree allows students to develop abilities in decision-making and policy in areas of business activity and services. The flexible program offers students a range of opportunities to develop their interests in business and economics. The requirements of the new program can be found here.

Economics Programs Recognized as STEM

The Department of Economics is excited to announce that all of its programs (including the new Combined Major in Business Economics) have been officially designated as STEM fields by SUNY. This move is a welcome recognition of the mathematical and analytical nature of the discipline. It will also allow international students to take 3 years of Optional Practical Training after graduation.

Congratulations to Class of 2019!

The 2019 commencement ceremony was held on May 17 - 18. You can watch the live video of the commencement here.

Economics Students at the Undergraduate Research Conference

The 16th Annual Undergraduate Research Conference was held on May 3rd, 2019. Three economics students presented their work at the conference. Maksim Papenkov presented "A Quant Approach to Predicting Revenue Growth", Jack Westerink presented "Team Heterogeneity and Player Performance in the NFL", and Michelle Raissa Kobou Wafo presented "The Effects of the Affordable Care Act Medicaid Expansion On Breast And Cervical Cancer Screening Rates On Low-income Childless Women."

Two Econ Students Won President's Award for Leadership

Jeffrey Shapiro and Michelle Wafo are recipients of 2018 Presidents' Award for Leadership. Jeffrey Shapiro won Community Service Leadership Award and Michelle Wafo won Outstanding Senior Award.

Michelle Wafo Receives the Situation Prize for Research

Michelle Wafo, who is an Honors student in economics, receives the Situation Prize for Research. The prize is awared to undergraduate students at the University at Albany who have shown high quality of research, scholarship and creative activities. For more information about the award and past receipients, click here.

Maksim Papenkov Receives the 2019 Presidential Award for Undergraduate Research

Maksim Papenkov's research project titled "A Bayesian Quant Approach to Modeling Earnings Growth" under the supervision of Professor Lewis Segal wins the 2019 Presidential Award for Undergraduate Research at the University at Albany.

Two Economics Faculty Nominated for Award

Professor Kenneth Bulko and Professor John Heim are nominated for the Touch Faculty/Student Engagement Award by graduating seniors. Following are some nominating narratives:

"Professor Bulko has had an impact on my undergraduate career since I had him for Microeconomics as a freshman. I was able to learn so much in that course, but only because he taught in a way that allowed students to engage with the material and become inquisitive about the functions of economics."

"For me personally Professor Heim has been able to make me understand certain topics in the course, that allowed me to truly see why it matters, and try to gain a better understanding of it, so I may apply it in my career moving forward."

Maksim Papenkov Receives the Situation Prize for Research

Maksim Papenkov receives the Situation Prize for Research. The prize is awared to undergraduate students at the University at Albany who have shown high quality of research, scholarship and creative activities. For more information about the award and past receipients, click here.

Professor Lahiri Appointed to Chair of Expert Panel for IESH

Distinguished Professor Kajal Lahiri has been appointed by the Reserve Bank of India to chair a 18-member Expert Panel on Inflation Expectations Survey of Households (IESH). These bimonthly surveys are used to monitor inflation targeting by the Central Bank of India. The work by the panel started last December in Mumbai.

2018-2019 Department Newsletter is Published

The inaugural issue of the Department of Economics newsletter is published. Click here for the newsletter.

Professor Cuicui Chen Joins Economics Department

Professor Cuicui Chen joins the economics department from Spring 2019. She completed her Ph.D. at Harvard University and worked as a research fellow at Harvard Kennedy School before joining the department. Her fields of research are environmental economics and industrial organization.

Paul Pangburn Wins Presidential Undergraduate Award for Research and 2nd Place in NYSEA Undergraduate Paper Contest

Paul Pangburn, a Senior Honors College student, won the Presidential Undergraduate Award for Research in Spring 2018, and he presented this research at the New York State Economics Association annual conference held October 5-6 2018 at St. John Fisher College in Rochester NY. His presentation came in 2nd place in the New York State Economics Association Undergrduate Paper Contest. His work focuses on the effects of the Affordable Care Act's Medicaid expansions on risky health behaviors.

Professor Chatterji Receives Research Grant

Pinka Chatterji, Associate Professor, is Co-Principal Investigator (with Barbara A. Dennison, MD, and Trang Nguyen, MD DrPH, at Health Research Inc./New York State Department of Health) on a 2 year grant funded by The Robert Wood Johnson Foundation's Policies for Action (P4A) program. The study, which started in October 2017, will evaluate the introduction of a 2018 NY law mandating that employers provide employees with paid family leave. The research will focus on estimating the effects of the paid family leave law on use of leave, disparities in leave-taking, and health outcomes.

Dr. Garima Siwach Receives APPAM Ph.D. Dissertation Award

Dr. Garima Siwach receives the 2018 Ph.D. Dissertation Award from the Association for Public Policy Analysis and Management. Her dissertation "Impact of Employment Barriers on Individuals with Criminal Records: An Econometric Evaluation of Criminal Background Checks in New York" is at the intersection of economics, public policy and criminology. She finished her dissertation in 2017 and won the University at Albany Distinguished Dissertation Award. She is currently working at American Institutes for Research. For the official webpage of the award, click here.

Allison Nunez Won NIH Grant

The National Institutes of Health have awarded Allison Nunez a $60,500 grant to study gender and minority career disparities in biomedical science. Ms. Nunez is a PhD student in the Economics Department writing her thesis under the supervision of Professor Gerald Marschke. Her work will document and attempt to explain disparities in the career advancement of biomedical science researchers from underrepresented groups using electronic databases of the biomedical scientific literature, big data methods, and state-of-the-art statistical and econometric tools. The grant will support her for the 2018-2019 academic year.

Economics Department Welcomes Professor Ben Griffy

Professor Ben Griffy joins the Economics Department as an Assistant Professor from Fall 2018. He completed his Ph.D. degree at the University of California, Santa Barbara. His research focuses on inequality, wage dispersion and human capital in macroeconomics and labor economics.

Congratulations on Tenure and Promotion

Congratulations to Professor Zhongwen Liang for achieving tenure and promotion to Associate Professor.

Since he joined the department as an assistant professor in 2012, he has been a productive researcher, publishing 8 papers in major academic journals in econometrics. His research is mainly focused on nonparametric analysis of time-series and panel data.

Economics Students Present at SUNY Undergraduate Research Conference

The 4th Annual SUNY Undergraduate Research Conference was held at SUNY Oneonta on April 20, 2018. Three economics students mentored by Professor Lewis Segal presented their research in the economics conference sessions.

Michael Spellane presented "Estimating Implied Risk Premia using Short-Term Interest Rates Models."

Maksim Papenkov presented "Empirical Asset Pricing at the Sector-level using Fama-French Factors."

Daniel Berle presented "College Debt and the Earnings Premium: Nationally and Regionally."

Two Economics Faculty Nominated for Award

Professor Lewis Segal and Professor Kenneth Bulko are nominated for the Torch Faculty/Student Engagement Award by graduating seniors. Following are quoted from nominating narratives.

"Beyond being an outstanding instructor, which he is, Professor Segal has been a mentor that has helped me refocus on academic pursuits."

"Professor Bulko helped me clarify my own thinking and due to his advice and encouragement I was able to find a major and career path I love!"

Eco 110 being offered in 8W2 for Spring 2018

The Economics Department will be offering a section of Eco 110 (Principles of Economics I: Microeconomics) during the 8W2 session this semester. Class details are: Eco 110 (10957) 8W2 MWF 10:25AM-12:25PM HU020

The 8w2 session begins on Wednesday, March 21st and ends on Wednesday, May 9th. If you are interested in taking the class, please register as soon as possible or if you have any questions, contact our Academic Advisor Runie Mensche

Professor Hounyo wins the Denis Sargan Econometrics Prize

Professor Ulrich Hounyo receives the 2016 Denis Sargan Econometrics Prize and his paper titled as "Validity of Edgeworth expansions for realized volatility estimators" with Bezirgen Veliyev is selected as the best article by young economists published in the Econometrics Journal in 2016. For the official webpage, click here.

Akihiro Nomura receives Pong Lee Award

Akihiro Nomura is chosen as the recepient of the 2017 Pong S. Lee Endowed Award. The Pong S. Lee Endowed Award is annually given to a Ph.D. student for outstanding research in economics. In his paper "A life-cycle model with heterogeneous agents and money," he studies effects of inflation using Japanese data and shows that the impacts vary significantly across socio-economic groups.

Professor Chatterji receives Teaching Award

Professor Pinka Chatterji receives the 2017-2018 College of Arts and Sciences Dean's Award for Outstanding Achievement in Teaching. Her principles in economics course is one of the largest and most popular courses around the campus. She also teaches Economics of Health Care, which attracts many advanced undergraduate students who are interested in markets for health care.

Two faculty members join the department of economics

Dr. Ulrich Hounyo joins the faculty as an assistant professor. He completed his Ph.D. at University of Montreal. He is an expert in econometrics and financial economics. Dr. Daiqiang Zhang joins the department as an assistant professor after completing his Ph.D. at Texas A&M. His areas of experties are econometrics and industrial organization.

The department welcomes a new academic advisor, Runie Mensche

The department of Economics is pleased to introduce a new academic advisor, Runie Mensche. He begins work at the department of economics from Fall 2017. He will perform a wide variety of tasks to advise and help economics majors.

Department of Economics moved to Building 25

In July 2017, the Department of Economics moved to Building 25. The building is located 800 feet west of the Podium, directly on the east-west access the Podium. The building is situated among a grove of trees on three sides. The building has an independent parking lot with around 50 parking spaces.

PhD Student Yimeng Yin wins Award for Best Public Finance Paper

PhD student Yimeng Yin's paper "Investment Risk-Taking by Public Pension Plans: Potential Consequences for Pension Funds, State and Local Governments, and Stake holders" with Donald J. Boyd at the Rockefellor Institute of Government won the award for Best Public Finance Paper at the 6th Annual Municipal Finance Conference hosted by the Brookings Institution.

Distinguished Professor Kajal Lahiri ranked among top 5% based on record of graduates

In March 2017, Distinguished Professor Kajal Lahiri was ranked among the top 5% of authors worldwide according to IDEAS based on the record of their graduate students. He has been the primary PhD advisor of 56 students, 18 of whom have received the coveted University Distinguished Doctoral Dissertation Award.

HansungSang-Han Lee, PhD Alumnus and President of Hansung University of Seoul, South Korea signs MOU between Hansung and UAlbany

Lee, ’89 Ph.D.(Economics), visited campus to sign a memorandum of understanding between UAlbany and Hansung University which will promote mutual faculty development, dual degrees and shared academic activities.

IMF honors Distinguished Professor Kajal Lahiri on the occasion of his 70th birthday

During April 26-27, the Research Department of the International Monetary Fund hosted a workshop ‘Forecasting Issues in Developing Economies’ in Honor of Distinguished Professor Kajal Lahiri. Over fifty economists from around the world were invited to participate including few of his former PhDs: Christie Teigland (1986), Susmita Dasgupta (1992), Anthony Davies (1994), Jay Song (1999), Chuanming Gao (2000), Simon Sheng (2009), Herbert Zhao (2014) and Xiaomei Li (2014). Professor Lahiri’s keynote lecture entitled “The International Transmission of Shocks: A Factor Structural Analysis using Forecasts Data”.  A selection of papers presented at the conference is scheduled to be published in a special issue of the International Journal of Forecasting.

Economics students participate in the 2017 Undergraduate Research Conference

Four Economics undergraduates, Deirdre Curry (homepage on left), Katherine Tare (homepage on right), Sebastian Herrera (pictured on left) and Maksim Papenkov (pictured on left), participated in the 14th Annual Undergraduate Research Conference. Curry and Herrera won Presidential UG Research Awards.             


Associate Professor Gerald Marschke receives grant from the National Science Foundation.

Dr. Marschke has been awarded a $500,000 grant from the National Science Foundation for his project, "Labor Market Outcomes of STEM PhDs: Measuring Career Earnings and Occupation Trajectories."

Assistant Professor Chun-Yu Ho researches on Financial Liberalization in China

Dr. Ho is a featured visiting fellow in the latest newsletter of Hong Kong Institute of Monetary Research (HKMR). His research examines the effects of foreign bank entry on domestic banks in China.

Yue Li AEA interview

Assistant Professor Yue Li Interview at the 2017 AEA Poster Session

Dr. Yue Li was interviewed at the 2017 AEA Poster Session on how people think about saving for retirement.

Yue Li AEA interview

The Department welcomes two new faculty members

Dr. Ibrahim Gunay joins the faculty as an assistant professor from the University of Michigan. His research is in International Trade. Dr. Chun-Yu Ho also joins the faculty as an assistant professor. He completed his Ph.D. at Boston University and has held previous faculty positions at the Georgia Institute of Technology and Shanghai Jiao Tong University. His area of expertise is Industrial Organization.

SiwachPh.D. Candidate Garima Siwach wins First Place Poster Award at APPAM Fall Conference

Garima Siwach wins First Place for her poster, "Unemployment Shocks for Individuals on the Margin: Exploring the Recidivism Effects," at the Association for Public Policy Analysis Fall 2016 Research Conference. (Watch her poster presentation at left.)


Michael Luca presents a research paper at his Alma Mater

Michael Luca, Assistant Professor of Business Administration at Harvard Business School returned to department of economics from where he graduated with a Bachelor of Science degree in 2003. He presented a paper showing on discrimination in the sharing economy. Online marketplaces increasingly choose to reduce the anonymity of buyers and sellers in order to facilitate trust. Michael and his coauthors demonstrate that this common market design choice results in an important unintended consequence: racial discrimination.

Photo: Michael Luca, third from the right, with the Economics professors who taught him while at UAlbany.

Zana Beck wins Undergraduate Research Award

Zana Beck, BS with Honors 2016, has won the 2016 Presidential Award for Undergraduate Research. Zana’s work looks at the efficacy of laws aimed to prevent underage alcohol consumption. While the results indicate that the beer keg registration has had little impact they do suggest that moving to vertical drivers licenses for under 21s have proven effective.

Photo: Zana Beck with a poster summarizing her research at the Economics graduation ceremony 2016.