Message from the Economics Department Chair

FALL 2009

    The Department of Economics welcomes all returning and new students to the College of Business and the University of Louisville. The Department has welcomed its latest addition, Professor Josh Pinkston (Northwestern) who came to Louisville from the Bureau of Labor Statistics. Dr. Pinkston has published in major economics journals and is currently teaching our Mathematical Economics class. We are pleased he chose our Department to pursue his academic career.
     The current U.S. recession and continuing difficulties in the U.S. housing, equity, and financial markets have increased interest in studying economics. In particular, is the current mix of monetary and fiscal policies adequate to minimize the negative shocks the economy is experiencing following what has been described as the largest financial bubble in history. The U.S. economy is confronting a variety of issues and problems following this event. This includes the current debate over health care reform. These issues are complex but as emphasized in our courses, a central issue will be the best role for government to assume for both the current macroeconomic situation, implementation of regulatory reform, and modification of the national health care system. The Department continues its expansion and is currently hiring new economists. The new faculty members are expected to have expertise in applied microeconomics and industry studies. In addition to providing a sound theoretical basis for such study, emphasis will be given to applications to practical private and public economic issues.
     Students will find the Department has rearranged its course offerings. All 300-level courses will assume students have had a background in micro- and macroeconomic principles and business statistics. 400-level classes will require Intermediate Theory (Econ 301, 302) and Math 205 (first semester calculus). Some 400-level classes, such as the new Econometrics II (Econ 402) will have additional prerequisites. These will be detailed in the new undergraduate catalog.
     Of interest to all is a new series of academic journals being published by the American Economics Association. The AEA now publishes the following journals:

            1. American Economic Journal - Applied Economics

            2. American Economic Journal – Economic Policy

            3. American Economic Journal – Macroeconomics

            4. American Economic Journal - Microeconomics

These new titles will supplement the current The American Economic Review, the top journal in economics, the Journal of Economic Perspectives, and the Journal of Economic Literature.

John Vahaly, Chair
Department of Economics