MA Economics at ODU on LinkedIn: Dr. Vinod Agarwal Interview Part 1 (2024)

Announcement: program modality updateLast month the MA Program in Economics at Old Dominion University was approved to offer the program with a fully online option starting with the Fall 2024 semester! Students will now be able to complete the program in a traditional face-to-face classroom setting or take courses fully online. If there are interested domestic students out there in internet land we can possibly still process applications for a fall semester start.As a reminder, both our BSBA and MA programs are STEM certified. For more information about the MA program click here: https://lnkd.in/eU6AuTW6

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Department Chair Bob McNab weighing in on the unemployment and payrolls data release this morning

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The ODU Department of Economics would like to welcome our newest economist to the university as the fall semester begins. Rex Sitti recently completed his Ph.D. in Economics at the University of New Mexico. He will be teaching both in both the BSBA and MA programs! His research interests are in public and urban economics.

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FOMC statement release maintaining the same federal funds target rate

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MA Program Spotlight: In our second post from Alex, we ask two more questions regarding advice for current or prospective students and his influences. More coming soon! Please give us a follow. We'd love to hear from our stakeholders, send us a message and let us know what you would like to see in our feed.What advice would you give to current or prospective students in the BSBA or MA Economics programs?I have two pieces of advice for students currently enrolled or thinking of enrolling in an economics program. First, be curious in your classes and in your day-to-day. Economics is more than just a collection of classes you need to pass for a degree, but rather a helpful way of thinking about and approaching the world around you. Second, be brave! Take that 400-level elective, and go the extra mile in your projects, even if it means a bit more work. Economics is surely rigorous, but the intellectual (and financial) rewards are large. Being curious is easy, and being curious will make it easier to be brave. By being brave, you will maximize what you get out of your time at ODU. Is there a particular economist, book, or theory that has significantly influenced your thinking or career?The first thing that comes to mind is the “causal inference revolution” in economics and social science / business research more broadly. There is that famous saying, “correlation does not imply causation,” which, of course, is true. The economists often credited with the causal inference revolution (e.g. Josh Angrist, David Card, Guido Imbens, Allen Krueger, etc.) provided tools and a framework for researchers to say when correlation may in fact imply causation. This paradigm shift has increased the credibility of research, and ties back into what I mentioned before about statistical literacy. I have the pleasure of teaching causal inference at ODU, and students often tell me that the course is a highlight. The feeling I get after teaching this course is the same feeling as when I show a friend a favorite album or movie. Perhaps that’s nerdy, but it’s true!

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For current students, interested parties, and alumni, the Richmond Fed looks to hire an RA to be located in Washington DC

While US GDP came in strong this week, the IMF still has global growth estimates unchanged for the year

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Department chair Bob McNab on the GDP news for the day.

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MA Program Spotlight: This month we will share information about Dr. Alex Cardazzi, one of our junior faculty members who currently teaches numerous courses as part of the MA Program. Name, hometown, rank, major and alma mater(s):Alex CardazziCongers, New York (Rockland County)Assistant ProfessorBS in Mathematics from Ramapo College of New Jersey (go Roadrunners!)PhD in Economics from West Virginia University (go Mountaineers!)What are your primary teaching and research interests within the field of economics?I think of myself as an applied microeconomist, which is code for, “I’m interested in everything.” That said, I’d like to be known for making contributions in the fields of urban and sports economics. At ODU, my favorite courses to teach involve econometrics as I believe deeply in the importance of statistical literacy in the modern world. Living in an increasingly complex society with an insatiable appetite for data, analytics, etc., it is important that students can think critically about, interpret, and digest the numbers being thrown at them.What current trends or issues in economics do you find particularly interesting or important?I find externalities to be both particularly interesting and important. An example of an externality I am sure many ODU students living in Hampton Roads are familiar with is traffic congestion. While pricing (tolling) roads is typically unpopular with the public, research has shown it to be an effective strategy in reducing the time lost sitting in traffic, vehicle emissions, etc. Cities in the US (e.g. Washington DC, San Diego, and soon New York) have started turning to congestion pricing in one form or another after seeing success stories from other cities across the world (e.g. London, Stockholm, and Rome to name a few). So long as the toll revenue is efficiently redistributed to enhance local public transit options, overall welfare should increase. Besides, we tax other negative externalities (like carbon emissions) to offset public harm, so why should congestion be any different? That said, it is important to consider the burden these tolls may place on individuals navigating the environment that’s been built around them. This is where toll relief programs come in, which happen to exist for residents of Hampton Roads!Tune in for more later this month from Alex!

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