ANNUAL NEWSLETTER
Special 2012 Mayan Prophecy edition
Rumors of End of World, Newsletter
Greatly Exaggerated: Welcome to the
TCU Economics Department annual
newsletter! We’re very excited to have this
opportunity to tell you what we were up to
in 2012. The Mayans led us to believe the
world was going to end on December 21, so
we didn’t plan on writing this edition. But
when we awoke on the morning of
December 22nd, alive & well, we knew we
had some catching up to do: since there
would be a Christmas after all, we had to
figure out how to cram all our gift shopping
into three days! After that was done, we
went deep into our econ department archives
to examine just what transpired in 2012. The
following is a record of what we found…
program, our numbers have doubled since
2007! The same thing goes for our majors:
five years ago we had just under 100
economics majors, but by 2012 we had
Taunting the gods? Ten years ago we
added a major in International Economics to
our program. That worked well, so last year
we added an international economics minor.
With 50 economics minors now in our
passed the 200 mark. This has prompted
some to ask whether we are ‘getting a little
too close to the sun.’ After all, who is going
to teach all these new majors and minors?
The good news is we recently got some
help…
1
Coming to an Economics Department
Near You! In 2012 we welcomed Assistant
Professors Zack Hawley and Silda Nikaj and
Instructor Josh Miller to help us with the
rising demand for econ classes.
Even
Newer
Addition
to
Econ
Department…and to Earth: We’re happy
to welcome Dr. Kiril Tochkov’s newborn
daughter, Isabella, to the TCU community.
She arrived via stork in early January 2013.
Congratulations go out to Dr. Tochkov and
his wife, Karin! Isabella is their first child.
Above we see Dr. Dawn Elliott actively engaged
with members of the financial literacy class which
she developed with the help of her students.
Other Developments:
And now for a bit of news about…
Economics Blog: Dr. John Harvey has a
blog at Forbes.com with over a quarter
million views of his posts!1
OUR BRILLIANT STUDENTS
Senior Scholar: This honor is presented to
our most outstanding graduating senior. This
year Kevin Lioi received the award.
New Urban Institute: Dr. Zack Hawley
will help run AddRan’s new Institute of
Urban Living and Innovation.2
TCU Econ Professor’s Community
Program Goes National: For several years
TCU economist Dr. Dawn Elliott has been
running a financial literacy program in Ft.
Worth for the underprivileged. The federal
government likes the program so much they
are adopting it. The federally adopted form
of Dr. Elliott’s program is called More Than
Budgets. Initially, seven counties in the
country have been selected, including
Tarrant County, Texas.3
The program goal is to reduce the recidivism
rate of individuals leaving the prison system
by providing support programs regarding
employment opportunities and financial
literacy. A worthy cause, indeed!
“Mind if I practice my Vulcan pinch on you?”
While it’s true that Dr. Lovett (standing) is very
excited about the upcoming Star Trek movie, here
he’s actually just adorning Econ Senior Scholar
Kevin Lioi with academic regalia. Dr. Harvey
applauds while Dr. Sawyer slightly bows his head
in reverence at this solemn occasion. 4, 5
4
It wasn’t really solemn. We were at Gloria’s Latin
restaurant, which is actually pretty festive.
5
If you’re wondering what a Star Trek reference is
doing in a Mayan-themed edition, I can only assume
you haven’t been getting your proper fix of History
Channel’s “Ancient Aliens.”
1
Go to: http://www.forbes.com/sites/johntharvey/
2
For more about the institute go to
http://www.addran.tcu.edu/institutes.html
3
The initial project will be run by the US Department
of Labor for 5 years… or until the world ends,
whichever comes first.
2
AddRan Festival of Undergraduate
Creativity and Scholarship: This year four
economics majors and an economics minor
presented the results of their research to a
live audience and panel of judges at the
AddRan Festival. Justin Bass, Kevin Lioi,
and Wenteng Yu competed in the
Economics Forum. Amy Sentementes
participated in a political science forum and
Kelsey Workman took part in a UN Policy
roundtable. To better appreciate their
scholarship, check out the titles of their
presentations:

AddRan Festival: Economics major Wenting Yu
talks about changes in the Chinese economy. AddRan
judge Dr. Kiril Tochkov (left) examines Wenting’s
numerical results on the screen.
Justin Bass: “Institutional Quality &
Economic Growth”

Kevin Lioi: “Cournot Instability and
Imperfect Competition”

Wenteng Yu: “The Transforming
Dragon: Labor Productivity Change
in China’s Three Economic Sectors”

Amy Sentementes: “Pinkies Up! The
Effect of the Tea Party on the 2012
New Hampshire Primary Election”

Kelsey Workman: “Cyber Warfare in
Iran in an International Context”
AddRan Awards: Kevin Lioi and Wenteng
Yu both came away from the AddRan
Festival with special honors, Wenting
winning the award for best AddRan paper
presentation while Kevin Lioi won the Lane
Smutz award for best economics
presentation. (The Lane Smutz award is
funded by TCU alum Lane Smutz. Thanks
very much, Lane!)
Omicron Delta Epsilon: In the spring we
had our annual dinner to recognize members
of the national economics honor society,
Omicron Delta Epsilon:
AddRan Festival: Justin Bass talks about
the impact of institutions on economic
growth. His research was funded by a
grant received by Dr. Kiril Tochkov.
3

Josh Grannan

Gigi Haidar

Kevin Lioi

Patricia Nicholson

Nicole Wallace

Vicky Xue

Wenteng Yu
Economics Green Chair: In 2012 we were
honored to have Dr. George DeMartino as the
Green Honors Chair for the department of
economics. Dr. DeMartino, a leading authority
on ethics in professional economics, visited us
from his post at the University of Denver,
graciously meeting with our students and
delivering a thoughtful presentation based on
his book The Economist's Oath: On the Need
for and Content of Professional Ethics in
Economics (Oxford University Press, 2011).
They came for the free food but they stayed
for the regalia! In the spring Dr. Lovett organized
a dinner at Gloria’s for our Omicron Delta Epsilon
honor society students. From left to right are
Patricia Nicholson, Kevin Lioi, Gigi Haidar, Josh
Grannan, Nicole Wallace, and Vicky Xue. 6
Honors Week Presentation: During the
spring 2012 Honors Week economics minor
Nicole Wallace spoke to a live audience as she
presented her work on “The Cheeger Constant
of Graphs.” If you have never heard of a
Cheeger constant, don’t feel bad. Neither had
we! 7
Students and faculty alike found Dr.
DeMartino’s discussions compelling as he
made the case for renewed attention to the
ethical dimensions of economic education,
research, and policy.
Former Student Gives Back to TCU! Chris
Mufarrige (class of 2010) is now a law student
at George Mason University. Last year Chris
charitably chose to use precious Spring Break
days to visit TCU and speak to our economics
majors. First, he lectured about the connection
between law and economics. Then he fielded
questions about law school. His talk was lively
and well-received. Don’t be surprised to find
Chris lecturing full time at a law school near
you. It’s only a matter of time!
Lane Smutz Award Winner, Kevin Lioi:
Kevin won for a very original paper using
Game Theory.
6
Economics major Wenteng Yu was unable to
attend the dinner but the other students insisted we
order extra flan to eat in her honor. How
thoughtful!
7
Go to this site to learn about Cheeger constants &
you’ll realize just how brilliant our students are:
http://en.wikipedia.org/wiki/Cheeger_constant_(graph_theory)
4
OUR BRILLIANT GRADUATES
**********************************************
while pursuing Masters degree at the
University of Houston.
Blaine Bond: After experience as a
roughneck, Blaine recently took a position
as Production Manager at Steeltex
Fabricators, a steel manufacturing and
fabrication company in Venus, Texas.
Cash Cassell: Business
Analyst
Laureate Education, Miami, Florida.
Sure graduating is cool (and you looked cool
doing it), but what are you going to do now???
Here’s what some recent econ grads are up
to:
for
Liz Fairless: Marketing Analyst at IM
Solutions, LLC in Dallas. There she does
online marketing & metrics/statistical
tracking.
L. C. Austin: Sales Executive for AT&T in
Richardson, TX
Tab Berger: headed to the Law School of
Creighton University in Omaha, Nebraska
(also contemplating enrollment in the joint
MBA-JD program at Creighton).
Sarah Fulkerson: Enrolled in Quinnipiac
University School of Law way up north in
Hamden, Connecticut. (Sarah has already
volunteered to come back and speak to our
econ students about law and economics!)
Jaszmine Bolden: Working at Patriot Bank
Josh Grannan: Budget Analyst for the
5
at the University of San Diego.
General Services Administration (GSA) here
in the DFW area. Josh had an internship at
the GSA which turned into a full time job
after he graduated.
John Matthews: Analyst for Stephens, Inc.,
an investment bank in Dallas. John says he
likes the fact that his job is to better allocate
capital in the economy.
Gigi Haidar: Financial Analyst for C-III
Capital Partners in Irving. She works in the
realty services brokerage division crunching
numbers, evaluating property values and
speaking with prospective buyers on the
phone.
Mitchell Melhorn: Working for Tullett
Prebon Financial Services, LLC as a fuel oil
derivatives broker down in Houston.
Patricia Nicholson: Attending Law School
at Texas Wesleyan in Fort Worth.
Benjamin J. Hoskins: Employed as a buyer
at food distribution company, Performance
Foodservice in Dallas.
George Rabel: He’s a client Manager at 1
Trade Logistics in Grapevine.
Traci Hughes: Working at consulting firm,
Lewis & Ellis, Inc. in Dallas as an Actuarial
Intern on staff.
Ahmed Trabulsi:
Enrolled in a training
program in investment banking back home
in Jeddah city, Saudi Arabia.
Kyle M. Koster: Enrolled in the Medical
Scientist Training Program at the University
of Rochester School of Medicine &
Dentistry in Rochester, NY.
Leonardo van Beek: He’s a Financial
Analyst for Transport Permian Trading, in
Midland, Texas.
Jason Lam: Actuarial Analyst for Sentry
Insurance in cheese head country, Madison,
Wisconsin.
David Whisenhunt: Enrolled in Masters of
Accountancy
program
at
Southern
Methodist University.
Evan Langston: He’s the Marketing
Communications and Community Relations
Coordinator at CLEAN Resources, a nonprofit organization here in Fort Worth.
Eric Williams: Eric does software design
and customer support for Fischer &
Company, a commercial real estate software
firm in Dallas.
Kevin Lioi:
Economics Doctoral program
**********************************************************************************
6
Greetings from the Econ Faculty!
Why is the Economics department all smiles? Because we’re at TCU! Plus, when this photo was
snapped back in 2010 we were just days away from moving out of our rundown, antiquated office
building and into stately, modern Scharbauer Hall, where we are located on the top floor. Don’t
worry, it’s got an elevator!
This impressive photo shows the evening view of Frog Fountain looking out from Scharbauer Hall.
To see where our offices were located before moving to Scharbauer, scroll down to the next
photo…
7
We were also on the top floor of this outdated building. Boy, was that staircase a killer!
**********************************
FACULTY NEWS
**********************************
have to offer. Dr. Bucila learned of a promising
conference in Orlando focused on university
level economics instruction. So, she packed her
bags and headed to the sunshine state. Good
news! Dr. Bucila reports that the conference was
a success! Coincidentally, she befriended a
woman at the conference who turned out to be
the sister of one of our own econ majors. As
they say in Florida, “it’s a small world after
all!”8
Laura Bucila, Lecturer: Dr. Bucila had a
busy year. She taught several classes
where she introduced TCU freshmen to
the
principles
of
macro
and
microeconomics. She also taught our
upper level econ majors and minors Labor
economics. Like many of the TCU
faculty, Dr. Bucila is always asking what she
can do to be a better teacher. Sometimes she
tries out new techniques in class. This year she
thought it might be doubly productive to attend
a teaching conference to see what ideas others
World Travels: Past readers of the newsletter
know Dr. Bucila is quite the traveler. This year
was no different as Dr. Bucila traveled to
Europe and returned to her mother country,
Romania. While back home who do you think
she visited? Why her mother, of course!
8
In one part of Florida, they actually sing it. They call
that part of Florida Disneyworld.
8
While in Europe Dr. Bucila snapped photos
wherever she went—photography is one of her
passions! She visited Barcelona, Spain making
sure to get some pics of the unique buildings
designed by famed architect Gaudi. In Romania
she photographed the picturesque countryside,
and she traveled back to the city where she
attended college, Cluj Napoca. She found a flight
with a 9 hour layover in Munich, Germany long
enough to allow her to venture into the city, meet
a friend, and snap some photos before the return
trip to the states. How economical!
Romanian Countryside: Dr. Bucila snapped this photo
while visiting her mother. She collected the wild
mushrooms in the hills. Can you see the small Romanian
town in the background?
After exploring Barcelona, Dr. Bucila ventured out
into the picturesque Spanish landscape where she
found the Montserrat Benedictine Monastery.
Schnell! Schnell! Dr. Bucila snapped this photo on
her whirlwind tour of Munich. This 260 ft high
structure is the Neues Rathaus (New Town Hall) in
the Marienplatz. During the Middle Ages the
Marienplatz was the marketplace of the city, so it
makes perfect sense for an economist to visit it!
9
Doug Butler, Instructor:
Teaching: While I taught my usual classes this
year—intro & intermediate micro plus public
finance—there was a change: my attempt to join
the 21st century by using more technology. I
finally began posting class materials online for
my students to download. I’ve even bought a
scanner, so I can quickly post a page or chapter
from a book or a graph I’ve sketched out to
illustrate a lesson. 9
Brushes with Fame: I went to the SEA
meetings in Washington, D.C. last academic
year. I missed (Nobel economist) James
Buchanan’s talk, as there was a (false) rumor he
was unable to attend the conference. But I was
able to listen to a lively presentation by wellknown development economist William
Easterly. Furthermore, I got to visit a TCU
alumni (and former student) who is living in the
DC area doing graduate work. It was good to
see my old student and it got better when he
9
Of course, these changes would never have been
possible if I had not begun using electricity in 2010.
year.” 11
So, consider a visit to our neighbor to the south.
And when you call to book your vacation,
mention my name for a 10% discount!
presented me with a signed copy of a book I use
in my courses, The Armchair Economist. He met
the author, Steven Landsburg, at a conference
and asked him if he’d write something funny for
me. (He did!) Thanks go out to both of them.
**********************************************
Mayan Expedition: My wife, Pilar, and I
traveled to Mexico’s Yucatan Peninsula where
we visited ancient Mayan ruins and snorkeled
among exotic fish. While in Yucatan we also
attended the wedding of Pilar’s cousin. Fue
fantastica! It was held at a lovely hotel, the
ceremony outside overlooking shockingly blue
waters. And there were even dolphins
swimming in a pool at the hotel!10
El Caracol: Mayan Observatory at Chitzen Itza,
(Pilar & a bowling fan in foreground). The Mayans had
a more advanced understanding of the stars & planets
than the ancient Greeks. They incorporated zero into
their number system centuries before Europe. Alas,
when it came to predicting the end of the world, they
were no better than anyone else.
The Future of Mexico: Arriba! Arriba! My
wife is from Mexico, so I’m very happy to
inform you that economic growth there has
been robust the last 3 years. Furthermore, there
are some promising reforms afoot. As the
Financial Times reports:
“Economists believe the measures – which
include tax, competition, labour and education
reforms – could transform Mexico into one of
the world’s most promising emerging markets
and increase economic growth to 6 per cent a
Michael R. Butler, Associate Professor and
Associate Dean of the AddRan College of
Liberal Arts: As you can see, Dr. Butler is the
Associate Dean of AddRan. He has now been
serving in that role for a decade. As if that
doesn’t keep him busy enough, he’s also the
chair of about 50 committees and director of
about 100 or so programs, and I am not
exaggerating when I say that.12
Here’s a sample of his service: He chairs the
Undergraduate Council, the AddRan Curriculum
Committee, and a committee for Advising. In
2013 TCU will be going through the reaccreditation process, so Dr. Butler is already
helping out with that by chairing the Governance
& Administration Team for SACS Reaffirmation
Process. He also directs the General Studies
Program. Wow!
Teaching: Dr. Butler enjoys teaching, so he
squeezes in a course here and there despite all
his administrative duties. For example, each May
he offers an intense three week course in
intermediate microeconomics, a great option for
ambitious students! While scores of alumni can
attest to his mastery of teaching Intermediate
Microeconomics, in the spring semester of 2012
Dr. Butler revisited another course that is
becoming a staple of his, the Economics of the
European Union.
Dr. Butler says his EU class covers four basic
11
See article at http://www.ft.com/cms/s/0/3ee499c480d8-11e2-9c5b-00144feabdc0.html#axzz2Ne2Mftov
10
However, when it was discovered that the dolphins
were not paying guests, they were asked to leave.
12
10
I might be exaggerating a little.
themes: 1) history, 2) integration of markets,
3) EU policy & 4) monetary integration.
However, given the recent economic turmoil in
Europe, Dr. Butler might have to add a fifth
section: the Dissolution of the EU!
Marshallian Law Man: If you come to TCU
commencement ceremonies you can be sure
things won’t get out of hand. You see, Dr.
Butler is the Associate Marshal. And he’s a
marshal who likes to keep the peace. Dr. Butler
refers to what he does as “maintaining an
orderly equilibrium.”
Dawn R. Elliott, Associate Professor:
We’ve already given you some insight into Dr.
Elliott’s year. Recall that her financial literacy
program has been adopted by the federal
government. The reader may be interested to
know that the program developed in part out of
a class Dr. Elliott teaches, Development Studies.
In that course students created a financial
literacy handbook that was then used to teach
the personal finance classes at Ft. Worth’s
Union Gospel Mission. Her students said they
not only learned a great deal about development
in her classroom, but they also gained valuable
real world experience through the financial
literacy program. 14
Family News! Last year Dr. Butler’s son, Alan,
began his freshman year of college at Butler
University in Indianapolis. His daughter, Erin,
is working hard in a graduate program at the
Baylor School of Psychology.
Meanwhile, we have a progress report on his
first grandchild, Annabelle Jennifer: she’s
getting exponentially cuter by the day! Just
look at the photo below of her snoozing
comfortably on granddad’s shoulder.
Happy to Help! A beaming Dr. Elliot is seen here
with volunteers promoting financial literacy here in
Ft.Worth.
International Influence: Last year Dr. Elliott
traveled back to her homeland of Jamaica. She
attended the Mobile Financial Services
conference at the University of the West Indies,
Mona where she reported the results of a
comprehensive research survey which she
headed. She discovered that most Jamaicans
The Joys of Grandfatherhood! We don’t know
exactly what Dr. Butler is thinking here, but
we’re sure he’d agree with columnist Doug
Larson: “The idea that no one is perfect is a view
held by people with no grandchildren.” 13
13
14
See discussion of Joe Brownback on page 4 of the
2009 Econ newsletter:
http://www.econ.tcu.edu/pieces/documents/news2009.pdf
http://thehoustonpilgrim.com/CM/Larson_04_08_07.htm
11
(75%) have limited access to safe and low-cost
payment channels. Only twelve percent have an
account allowing them to transfer funds, write
checks or make credit card payments. Dr. Elliott
pointed out that this makes life more difficult
and
expensive
for
many
Jamaicans.
Furthermore, it has implications for economic
development. As she explains, “they are not
borrowing from the banks; they are not
investing; they are not building assets; they are
not building wealth, and their businesses stay in
a survival mode” instead of expanding. 15
Robert F. Garnett, Professor: Dr. Garnett
is popular on the TCU campus and abroad. He
was one of three economists invited to speak on
a panel honoring the work of Elinor Ostrom, the
2009 winner of the Nobel Prize in Economics,
at Beloit College. Dr. Garnett presented his new
paper on “The College Classroom as
Knowledge Commons: Rediscovering Liberal
Education.”
Pluralisms: Dr. Garnett continued to work on
his scholarly research – on the meaning and
value of pluralism in economics education and
in the disciplinary ‘marketplace of ideas,’ and
on the role of philanthropy and other forms of
beneficence in modern commercial societies. In
that vein, Dr. Garnett contributed invited
chapters to two books, Experts and Epistemic
Monopolies and the Elgar Companion to Post
Keynesian Economics.
Working Together: At the conference Dr. Elliott
met with other academics and business people who
to explore how to bring more Jamaicans into the
financial system. Above, Dr. Elliott speaks with
Wendell Smith, Information Systems manager at
Jamaica National Building Society, and Professor
Evan Duggan of the School of Business, University
of the West Indies, Mona.
Gabe & Two Fine Feathered Friends: Dr.
Garnett says his young son, Gabe, “continues to
thrive as a connoisseur of words, cars, and
animals, and as a frequent visitor to the Fort
Worth Zoo and Botanic Gardens.”
Very Honorable Mention: Dr. Garnett worked
with two honors students on their senior theses:
Ivor Van Esch writing “Student Athlete
Compensation” & Saman Sadaghi writing
“Employment-Based Immigation Policy: A
Dialogue.”
Congratulations go out to Dr. Elliott. The
Jamaican Olympic team had their best Olympics
ever in 2012!
15
Goodfellow: Dr. Garnett worked closely with
Dean Andy Schoolmaster throughout the 201112 academic year as the first Administrative
Fellow for the AddRan College of Liberal Arts.
Extra Credit: TCU is up for re-accreditation in
2013. Dr. Garnett is helping to see that things
As reported in Jamaica’s The Gleaner:
http://jamaica-gleaner.com/latest/article.php?id=34381
12
go smoothly by serving as Vice Chair of the
Review Committee for TCU’s SACS
Reaffirmation.
Family News: Dr. Garnett’s elder son, Ben,
graduated from Arlington Lamar High School.
Ben launched his journey to become a
professional jazz guitarist by gaining
acceptance to the jazz studies program at the
University of North Texas in Denton!
John T. Harvey, Professor (prepared by
Happy Graduate:
On the left we see
Ben “Miles Davis”
Garnett at his high
school graduation.
Not to brag, but…The Garnett family had
other successes in 2012, as well: Dr. Garnett
successfully turned 50! And his wife, Lisa,
earned tenure and promotion to Associate
Professor in the
TCU Anthropology
department. Great Scott, Batman, there’s
more! This dynamic duo also co-wrote
“Reflexive Pedagogy: Disciplinary Idioms as
Resources for Teaching” published in Teaching
in Higher Education.
Dr. Harvey):
Last year was another
productive one research wise. I published two
articles and have one forthcoming and I made
some more progress on my book on contending
perspectives in economics. In addition, I
became the lead editor of the World Economic
Review. Meanwhile, my Forbes.com blog,
while not formally counted as research, has
occupied an increasing amount of my time. I
now have over forty entries, hundreds of
thousands of views, and over 400 followers–and
more than a few detractors! If you, too, would
like to tell me what an idiot I am, you can go
here: http://blogs.forbes.com/johntharvey/
Above we see Dr. Harvey (left) with famous Post
Keynesian economist Paul Davidson. They were
at an economics conference, of course.
“Hear no evil, speak no evil…” It looks like Ben
is already teaching Gabe the path to personal
success. No wonder Dr. Garnett says Gabe is
Ben’s greatest fan!
The Forbes.com blog has led to a number of
interesting opportunities.
Since the last
newsletter, I’ve done over a dozen public
13
lectures, including one at Columbia Law School
as part of this series:
http://www.modernmoneyandpublicpurpose.com/
Family-wise, I am now getting to find out just
how expensive college has become! Meg
started at Tulane this fall and Alex at TCU.
Alex is majoring in English writing, while Meg
is doing Linguistic Anthropology with minors
in history and French. Both are doing very
well. Melanie, continues to teach fourth grade,
but, I am told, not the same class. Apparently,
they give her a new one every year, which is
nice.
In addition, I’ve been on numerous radio
programs, contributed an article on presidential
economics to a Chinese publication, and was
interviewed on Canadian television.
On the teaching front, I returned to Intermediate
Macroeconomics after a decade-long absence.
It’s been really fun, especially since I get to
lecture about the financial crisis! I have also
had the chance to teach one of my favorite
classes: Perspectives in Macroeconomics. In
that course, we cover the actual expansions and
recessions in the US since 1970. Last, I
continue to teach in my area of expertise in
International Monetary Economics.
Personally, I’ve once again over committed
myself and am desperately trying to keep up! I
need to learn how to say “no.” It’s such a short
word, you’d think it would be easy. Oh well, at
least it’s all stuff I enjoy!
John Lovett, Instructor: (based on a true
story) Last year we reported that Dr. Lovett’s
macroeconomics principles textbook was in its
second edition.16 It would appear that Dr.
Lovett has got a knack for writing books.
Although he claims it’s a side project, he
acknowledges he has completed five chapters of
a book on colonial economic development. He’s
already incorporating the chapters into his
Economic History of the Industrial Revolution
course and his U.S. Economic History course.
You Say You Want a Revolution…course:
The Industrial Revolution class is a very recent
addition to Dr. Lovett’s repertoire, but it’s
already popular. He taught two sections of it in
the Spring semester!
Sweep Success! Remember at the beginning of
this newsletter when I said we went deep into our
archives to uncover what happened in 2012?
Well, Dr. Harvey went really, really deep. He dug
up this pic (above) from his high school yearbook.
Here’s what Dr. Harvey said about this candid
photo: “It was used for my Most Likely to
Succeed picture--we had a lot of underachievers
in my class!”
Book Reviewer: In writing his newest book
and developing his courses, Dr. Lovett says he’s
had to keep up with what he calls “the latest in
history.” He’s even an official reviewer for the
16
The book is Horizons in Macroeconomics, KendallHunt publishing.
14
forthcoming book An Economic History of
Europe, 2nd edition, Cambridge University
Press.
Edward M. McNertney, Associate
Professor: Dr. McNertney is on leave from
the economics department until 2014. Why?
Some say it’s a reward for putting up with us
for so long. After all, he was the chair of the
department for over a decade. But actually it’s
because he is part of the 2013 Southern
Association of Colleges and Schools (SACS)
Reaffirmation Leadership Team. SACS is the
institution that will be re-accrediting us.
(Fingers crossed!) Dr. McNertney serves as the
faculty representative for the leadership
committee, which includes the chancellor of
TCU as well as the provost.
If you aren’t already convinced that Dr. Lovett
has a passion for history (and humor), just look
at his photo above with Julius Caesar. We found
this pic at Dr. Lovett’s webpage. See for
yourself: http://faculty.tcu.edu/jlovett/
The Core, and the Core, and the Core!
There’s another reason for Dr. “General”
McNertney’s time away from the department.
He is dedicated to TCU’s core curriculum. Dr.
McNertney was instrumental in both the
development of the new core and in TCU’s
transition to it. In fact, he’s been serving as the
Director of the TCU Core Curriculum since it
was implemented.
VERY FOCUSED:
When you see Dr.
McNertney pull out
the pipe and don the
shades & khakis like
this (left), you can
be sure he’s got his
mind on TCU’s
Core curriculum.
ODE Dinner at Gloria’s: Dr. Lovett is the
Faculty Advisor for the economics honor society,
Omicron Delta Epsilon (ODE). Each year he
organizes a dinner to acknowledge the
achievements of our ODE students. Above, Dr.
Lovett says a few words in honor of our
students…although, upon closer inspection, he
may actually be giving a demonstration of his
strength. Whatever he was doing, I’m sure we
were all very impressed!17
“I shall return…to the department of
economics once the accreditation process is
complete,” says Dr. McNertney, “and, assuming
I don’t win the powerball lottery.”
17
Note: If it was, in fact, a demonstration of strength,
then Dr. Garnett was not impressed. You see, he’s the
one laughing in the photo!
15
Teaching: In 2012 Dr. Quinn once again joined
forces with TCU philosophers Richard Galvin
and John Harris to teach Economics and
Philosophy of Law. The course continues to get
rave reviews. In fact, some students have said
the class was the determining factor in their
decision to attend law school.
Quinn & Roberds: The Hall & Oates of
Economics? 19 Dr. Quinn has been doing a bit
of touring lately. He and research colleague
William Roberds have written two recent hits
that audiences everywhere want to hear! They
are “How Amsterdam Got Fiat Money” and
“Responding to a Shadow Banking Crisis.”
Stephen F. Quinn, Associate Professor:
Baptism by Fire: Dr. Quinn definitely stayed
busy last year. You see, he is our department
chair. Not long after taking the reins did he
encounter a major challenge, overseeing a
significant hiring process. We were looking to
fill not one, not two, but three positions, a
daunting task indeed. In the end we had great
success… although there were probably a few
times when Dr. Quinn wanted to pull his, or
someone else’s, hair out.
The Marshallian Master has become the
Martialian Student: Perhaps it was the stress
of being department chair that drove Dr. Quinn
into his new hobby, martial arts classes. (Either
that or the bullying he received from those
Cobra Kai jerks!)
Them’s Fightin’ Words: The martial art Dr.
Quinn has begun studying is a Korean
technique called hapkido. He told us what drew
him to this particular fighting style, saying “if
done right, no can defense.” 18
I Trek for Utrecht: Last year Dr. Quinn & Dr.
Roberds were invited to give talks on these
papers at George Mason University and The
Federal Reserve Bank of Atlanta. These travels
officially reached World Tour status when a
speaking invitation was extended by the
University of Utrecht in Holland.
(above) The Hallowed Halls of the University of
Utrecht, of which Dr. Quinn has fond memories
after his April 2012 visit.
Breakfast of Champions: Dr. Quinn starts his
day off with hapkido, attending class at 5am!
18
19
Dr. Quinn didn’t really say that. That’s a quote from
Mr. Miagi in the movie The Karate Kid. (I can’t recall
if that line was also in the book.) The truth is that
hapkido is a defensive technique, not aggressive.
Apologies to you readers who have no idea who Hall
& Oates are/were! It was either them or Simon &
Garfunkel, and honestly I don’t know if that would’ve
made a lick of difference.
16
While there he gave a presentation on a
research topic he has been working on,
“Patterns of Expansion by U.S. Companies in
Latin America and the Caribbean.” A few
months prior to that trip he flew to London to
chair a session at the European Economics and
Finance Society Meetings.
Family News: Dr. Sawyer’s daughter is
working in Lockheed Martin’s Leadership
Development program. His son graduated from
college in the spring. Dr. Sawyer is happy to
report that he was hired by Walmart and is
working in their management training program.
Charles Sawyer, Hal Wright Professor in
Latin American Economics (prepared by
our Latin American correspondent): Dr. Sawyer
had another busy, but fulfilling, year here at
TCU. As usual, he offered varied courses,
allowing our students several opportunities to
draw on his expertise. In the 2011-2012
academic year he taught Latin American
economics, Intermediate Macroeconomics, and
International Economics, courses principally
taken by economics majors and minors. For his
own personal broadening, Dr. Sawyer also
taught an Honors section of Introductory
Macroeconomics for incoming freshmen of
myriad backgrounds.
Kiril Tochkov, Associate Professor: Dr.
Tochkov had an interesting year. First of all, he
worked with former student, and current
alumni, Justin Bass on a project funded by grant
money from the Undergraduate Research and
Creative Activity Initiative. Their efforts have
so far culminated in a paper "Economic Growth
and Institutional Quality: A Cross-Country
Empirical Analysis." Justin Bass presented the
findings of their research at the AddRan
Festival in the spring.
Editorship: Besides teaching, a job that keeps
Dr. Sawyer busy is his position as editor of
Global Economy Journal. He spends quite a bit
of time reviewing and evaluating the research
of other professionals. It’s more time
consuming because he takes it seriously.
Globe Trotter: Although he loves being a
teacher, every now and then Dr. Tochkov takes
a break from teaching our students about the
macroeconomy, the use of statistics, or Asian
economies, and instead does some world
traveling. Last year he made excursions to the
Mediterranean and the Far East. First, Dr.
Tochkov attended the Eurasia Business and
Economics Society Conference in Zagreb,
Croatia. A few months later he went to the
International Symposium on the Economics of
Education at the Chinese University of Hong
Kong.
Research: Dr. Sawyer is largely a trade
economist, but he dabbles in other areas of
economics, as well. In recent years, for
example, he has been interested in the impact of
new technologies on crime rates. In 2011 and
2012 he and a TCU criminal justice professor
collaborated on this topic. In the spring they
were able to get some promising results from
their work. A publication may not be far away!
World Travels: Dr. Sawyer traveled to Pisa,
Italy in May where he attended the International
Trade and Finance Association Meetings.
17
Back Home: Dr. Tochkov is Bulgarian by
birth, so he has a keen interest in what goes on
there. Last year he collaborated with his wife,
Karin, and a fellow Bulgarian on a paper
examining the country’s institutions of higher
education. The paper "University Efficiency
and Public Funding for Higher Education in
Bulgaria," was accepted for publication in the
journal Post-Communist Economies. Look for it
at Post-Communist newsstands everywhere!
Linda Martinez, Administrative Assistant:
Visitor Friendly: If you ever stop by the
department, Linda is the first person you’ll see.
She can tell you who is available in their office
and who is in class. And she’ll tell you to help
yourself to some candy. You see, the econ
department has its own candy machine full of
M&M’s.
Family: There are two recent additions to
Linda’s family: her granddaughters. Fifteen
month old Harper and two month old Marley
are keeping her own daughter, Lauren, on her
toes, and making Linda proud!
Texas Travel Tips: If you’re looking for a
place to visit in Texas, Linda recommends
Gruene. Linda says it’s a town with character.
There’s a vineyard there with good wines and
it’s a great place to go tubing!
You Are Cordially Invited: In April Dr.
Tochkov was invited to give a presentation at
the Department of Economics, Portland State
University. What a compliment!
Special Achievement Award: Dear Newsletter
Readers, Taking into account all of Dr.
Tochkov’s
academic
accomplishments,
publications, presentations, and the like, allow
me to present to you his greatest achievement
yet…his daughter, Isabella Tochkov!
************************************
ALUMNI PHOTOS and more:
Surprise Alumni Visit! Melody Osborne, 2005
International Economics graduate, popped in one
day to say hello. She’s employed by Fluor Global
Engineering. Currently, she’s working on a
project in Russia on the Caspian Sea. (Yes, she
was an International Econ major!) The mystery
fellow in the photo is Melody’s husband, Bob
Woodward.20
Isabella Tochkov (snoozing comfortably in the
photo above) is not particularly impressed by her
father’s many other achievements.
20
Apologies to Melody and Bob because the photo
seems a bit out of focus! My cell phone often does not
take what might be described as “clear pictures.”
18
Economics Department Online:
Boda de Alumni: TCU 2011 graduate Jose
“El Guapo” Sandoval sent us this photo from
his wedding. He was married in Guatemala last
year. Felicidades!
Main webpage: www.econ.tcu.edu
Newsletter editions from previous years:
http://www.econ.tcu.edu/department-newsletter.asp
Developing faculty research:
http://www.econ.tcu.edu/research-working-papers.asp
Department Phone: (817) 257-7230
Alumni Business Cards: We’ve collected
business cards from some of our alumni and
are displaying them for our students to see.
Please send us your card if you’d like to be
part of the show! The address is:
Department of Economics
Texas Christian University
TCU Box 298510
Fort Worth, Texas 76129
*********************************
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MEET THE STAFF!
The newsletter Research Staff celebrates our 12th anniversary publication.
The newsletter Art Design team draws inspiration from surprising sources.
From the staff and the entire Economics department
“Have a great year! Go Frogs!”
20