Department of Economics at Illinois State University Department of Economics at Illinois State University

Department News and Notes

Promoting Undergraduate Success

isu_grad2Do advising and information interventions in introductory economics courses make a difference in choice of major, retention in the major and overall academic success?  Learn more about ISU’s role in the Undergraduate Women in Economics Challenge funded by the Alfred P. Sloan Foundation through the National Bureau of Economic Research.


Ohler Article Receives WAEA Award

river4The Western Agricultural Economics Association has selected “What Floats Your Boat? Preference Revelations from Lotteries over Complex Goods” (Journal of Environmental Economics and Management) for the Outstanding Published Research Award.  Professor Adrienne Ohler and coauthors will be recognized at the WAEA awards luncheon in San Francisco.


Goel Article Nets ACES Award

zagrebThe Association for Comparative Economic Studies has selected “Bureaucratic Monopoly and the Nature and Timing of Bribes: Evidence from Croatian Data” for the Bergson Prize.  The article by Professor Rajeev Goel and coauthors will be recognized at their upcoming meetings as the best paper published in the association’s journal over the past two years.


Applied Econometrics Workshop

railstationSusan Chen of Illinois State University will present “On the Substitutability between High-Speed Rail and Air Travel: Evidence from the Chinese Market” on Thursday, October 22 (12:30-1:30pm) in Stevenson Hall, Room 434.


Economics News Archive 2012+

Feature stories

River Access & Other Complex Goods

river4Adrienne Ohler (Illinois State University) with Jonathan Yoder and Hayley Chouinard (Washington Statate University) find that lotteries structured with multi-attribute winnings yield critical information on preferences for alternative uses of publicly-held resources.  Their study appears in the May 2014 edition of the Journal of Environmental Economics & Management.

Macro Effects of Credit Flow Disruptions

financialstatsUsing data from a survey of bank managers, George Waters (Illinois State University) measures quantity rationing of credit in terms of business loan denials.  He finds that credit flow disruptions contribute to excess unemployment and inflation dynamics.  His study appears in the September 2013 volume of the Journal of Macroeconomics.


Insights on the Economics of Innovation

researchscientists Using a unique survey of scientists at a large public research organization, Rajeev Goel of ISU and Devrim Göktepe-Hultén of the Research Policy Institute in Sweden, examine the effects of industry interactions on academic patenting. They find that industrial cooperation as well as consultancy increase the likelihood of patenting.  Their study appears in the 2013 volume of Economics of Innovation and New Technology.

Shoppers Gain from Innovation in Contract Terms

In a recently published study by Susan Chen (Illinois State University) and Qihong Liu (University of Oklahoma) the authors find that the introduction of a Most-Favored Customer Clause by one retailer in consumer electronics leads to lower prices that are experienced industry-wide.  Their study appears as the lead article in the September 2011 edition of the Journal of Industrial Economics.

Econ Showcase

2015 Nobel Prize in Economic Sciences

deatonAngus Deaton (Princeton University) for his contributions in several areas including an innovative framework for empirical analysis of consumption, the case for disaggregate treatment of income-savings-consumption relationships based on behavior observed in microdata, and continuing focus on the value of empirical evidence at the individual and household levels for understanding poverty and economic development.

Cleeton Selected for EU Studies Posts


Professor David Cleeton has been elected Co-Chair of the Economic Interest Section of the European Union Studies Association (EUSA) through March 2019.  He also serves as Co-Chair of the EUSA Political Economy Interest Section and was previously appointed as a Visiting Scholar for the European Union Center at the University of Illinois.


Top Ten Rank for Peace Corps Program


ISU ranks ninth on the Peace Corps’ new list of the top Master’s International schools nationwide.  The program, housed under the Stevenson Center for Community and Economic Development and managed by associate director Beverly A. Beyer, has 49 graduates and counting with degrees in applied economics, political science, and sociology.  Read more.

Kasten Named Distinguished Alum


ISU recognized Carl E. Kasten with the Distinguished Alumni Award.  He majored in social sciences education at ISU, completed law school at Northwestern University and returned to Carlinville for a career in law.  He served on the ISU Board of Trustees, including five years as Chair.  ISU alums in the family include wife Donna and children Heather and Martin, both econ graduates.  (see CASNews story).