Economics Department at George Washington University

Economics Department at George Washington University The Department of Economics is a part of the Columbian College of Arts and Sciences at George Washington University in Washington, D.C. We offer undergraduate and graduate degree programs, and host a series of seminars and workshops on a range of topics.
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Econ students, join your classmates in GW Women in Economics!
01/26/2021

Econ students, join your classmates in GW Women in Economics!

Come meet us this weekend at the rescheduled Org Fair! We love meeting new members.

Economics Department at George Washington University

Econ students, join your classmates in GW Women in Economics!
01/26/2021

Econ students, join your classmates in GW Women in Economics!

Come meet us this weekend at the rescheduled Org Fair! We love meeting new members.

Economics Department at George Washington University

Econ students, join your classmates in GW Women in Economics!
01/26/2021

Econ students, join your classmates in GW Women in Economics!

Come meet us this weekend at the rescheduled Org Fair! We love meeting new members.

Economics Department at George Washington University

"There are many aspects of our current economy that are still unprecedented. And that means that their job is incredibly...
01/25/2021
US Fed holds first policy meeting of Biden administration - France 24

"There are many aspects of our current economy that are still unprecedented. And that means that their job is incredibly challenging," GW economist Tara Sinclair told France 24.

The Fed last year announced a new framework that gives officials flexibility to address the situation.

The central bank pledged to allow inflation to exceed its two percent goal for a time to ensure the unemployment rate drops from its 6.7 percent level at the end of 2020.

That is a radical shift from the past, when central bankers would raise rates early to head off inflation.

"They can see the whites of inflation's eyes before they need to be necessarily thinking about really changing policy" under the new framework, Sinclair said.

#GWEcon21

US Fed holds first policy meeting of Biden administration

GW Economics faculty Tony Yezer and Leah Brooks are sourced by The Washington Times, and Tony's quote is classic!Tony Ye...
01/22/2021
Inaugural boom vanishes under coronavirus lockdown, attack threat lockout

GW Economics faculty Tony Yezer and Leah Brooks are sourced by The Washington Times, and Tony's quote is classic!

Tony Yezer: “Asking the economic effect of having no crowds for the inauguration on D.C. is like asking about the effect of a splinter in the hand of a person who has been shot with a gun. Yes, the splinter is annoying but the patient is going to die from the gunshot.”

Leah Brooks: “In years past, the city and federal government spent money on inauguration security; in return, they usually received additional sales tax revenues from all the events associated with the inauguration. This year, the area is surely spending much more on security, and there is very little spending by the inauguration going into the local economy. In other words, a much worse return on investment."

#GWEcon21

Call it Inauguration Day in the Upside Down. The quadrennial event that brought an estimated $1 billion in revenue to D.C.-area businesses in 2017 now looks to add insult to injury to the pandemic-battered regional economy.

Applied Econ M.A. Director Joann Weiner and Department Chair Stephen Smith were excited to meet our new Applied Econ M.A...
01/22/2021

Applied Econ M.A. Director Joann Weiner and Department Chair Stephen Smith were excited to meet our new Applied Econ M.A. students at the Spring 2021 orientation. Learn more about the program at https://economics.columbian.gwu.edu/ma-applied-economics.

(PC: Grace Lee)

#GWEcon21 #GWAppliedEcon

Check out GW Women in Economics at the Spring Org Fair!
01/14/2021

Check out GW Women in Economics at the Spring Org Fair!

This weekend is the spring org fair, and GW Women in Economics would love to have you in our org! We are a pre-professional organization designed for women studying economics to create community. We host a variety of events throughout the semester (it’s low commitment!), have an internship database, and more. If you’re at all interested in joining or even being on our mailing list, we’d love to see you on Sunday afternoon via Engage! Economics Department at George Washington University

EDIT: The org fair has been rescheduled to Sunday, January 31st from 12-2 pm!

Congratulations to Professor Barry Chiswick on the publication of his new book, "Jews at Work:Their Economic Progress in...
01/14/2021
Jews at Work - Their Economic Progress in the American Labor Market | Barry R Chiswick | Springer

Congratulations to Professor Barry Chiswick on the publication of his new book, "Jews at Work:
Their Economic Progress in the American Labor Market". Barry served as the editor of this book which addresses the educational, occupational, and income progress of Jews in the American labor market. Using theoretical and statistical findings, it compares the experience of American Jews with that of other Americans, from the middle of the 19th century through the 20th and into the early 21st century.

#GWEcon21

This book addresses the educational, occupational, and income success of Jews in the American labor market. It compares the experience of American Jews with that of other Americans, from the middle of the 19th century through the 20th and into the early 21st century....

“Whereas usually we think of recessions as hitting more male-dominated industries, this time the demand for workers was ...
01/13/2021
American Women Lost More Than 5 Million Jobs In 2020

“Whereas usually we think of recessions as hitting more male-dominated industries, this time the demand for workers was particularly low for jobs in which women are more highly represented,” says GW economist Tara Sinclair. Exacerbating this demand issue is the well-documented care-giving crisis that has found women holding primary care-giving roles at higher rates than men. With the closure of in-person schooling, “women were basically forced into leaving their employment or cutting their hours,” she says.

Read more insight from Tara in Forbes.
#GWEcon21

According to an analysis of the latest jobs report, women accounted for 100% of the 140,000 jobs lost in December. But this statistic doesn't tell the full, complicated story of where, how and why women are—and are not—working in the U.S.

New research co-authored by GW Econ alum Will Larson (Ph.D., 2011) and professor Tara Sinclair is out! "Nowcasting unemp...
01/13/2021
Nowcasting unemployment insurance claims in the time of COVID-19

New research co-authored by GW Econ alum Will Larson (Ph.D., 2011) and professor Tara Sinclair is out! "Nowcasting unemployment insurance claims in the time of COVID-19" is available in the International Journal of Forecasting, the official publication of the International Institute of Forecasters.

#GWEcon21 Columbian College of Arts and Sciences

Near term forecasts, also called nowcasts, are most challenging but also most important when the economy experiences an abrupt change. In this paper, …

Congratulations to the winter graduates of our Applied Economics M.A. program! Program director Joann Weiner hosted a vi...
01/13/2021

Congratulations to the winter graduates of our Applied Economics M.A. program! Program director Joann Weiner hosted a virtual commencement ceremony.

#GWAppliedEcon

(PC: Wataru Hoeltermann)

“There are a lot of rich people who’ve saved a lot of money and really want to spend it,” said GW economist Tara Sinclai...
01/11/2021
Jobs Recovery Goes Into Reverse as Pandemic Takes a New Toll

“There are a lot of rich people who’ve saved a lot of money and really want to spend it,” said GW economist Tara Sinclair. “Is that going to be enough to make up for all the business that has been lost? No, but it’s going to look like a faster recovery.”
#GWEcon21

U.S. employment fell by 140,000 in December as virus cases surged. Leisure and hospitality businesses were hit hard, but some industries showed growth.

"Presidents don't control every lever in the economy," according to Joann M. Weiner, GW Associate Professor of Economics...
01/05/2021
Fact check: Clinton, Obama left federal government with a lower deficit than when they arrived

"Presidents don't control every lever in the economy," according to Joann M. Weiner, GW Associate Professor of Economics. "However, a lot of those specific policies do either add or subtract from the budget deficit, and in general, Democrats are better at handling the deficit than Republicans are."

What's behind the deficits and surpluses? Read more insight from Joann in USA Today.

#GWEcon21

Posts from 2018 about presidential administrations and the federal deficit have resurfaced on Facebook recently. We rate them missing context.

While we can’t be together to celebrate the holidays this year, memories of our past celebrations have us looking forwar...
12/22/2020

While we can’t be together to celebrate the holidays this year, memories of our past celebrations have us looking forward to the possibilities in 2021. We wish all of you a safe, restful, and happy holiday break!

#GWEcon

Economics Department at George Washington University's cover photo
12/22/2020

Economics Department at George Washington University's cover photo

"The clock is ticking on Capitol Hill as discussions between Republicans and Democratic lawmakers regarding a second sti...
12/18/2020
No matter what Congress does, 12 million jobless Americans will temporarily lose unemployment benefits

"The clock is ticking on Capitol Hill as discussions between Republicans and Democratic lawmakers regarding a second stimulus package are likely to stretch into the weekend. But no matter what actions they take, some 12 million Americans will see a lapse in their unemployment benefits soon."

Get the full story from GW Econ '20 alum Elisabeth Buchwald in her latest piece for MarketWatch.

Some 3 million workers in California were notified that their last unemployment checks will go out Dec. 26.

The U.S. Bureau of Economic Analysis released new work by BEA economist Marina Gindelsky (GW Econ Ph.D., 2015), BEA Chie...
12/17/2020
Distribution of Personal Income | U.S. Bureau of Economic Analysis (BEA)

The U.S. Bureau of Economic Analysis released new work by BEA economist Marina Gindelsky (GW Econ Ph.D., 2015), BEA Chief Economist Dennis Fixler (GW Adjunct Professor of Economics), and David Johnson (University of Michigan). Their work updates BEA prototype statistics that measure how U.S. personal income is distributed across households and is updated with data for the years 2017-18.

#GWEcon21 #GWAlumni

function download(d) { if (d == 'Select a year to view data...') { return; }else{ window.location = '//apps.bea.gov/data/special-topics/distribution-of-personal-income/' + d + '-dispi.xlsx'; } } .select-primary { border-color: #c85620; } .select-primary:hover { border-color: #943f18; } Distribution....

Congratulations to GW Econ alum Atticus Francken (B.S. '16 in Economics, Math) - he has been named to the newest class o...
12/16/2020
GW Alumnus Named Schwarzman Scholar

Congratulations to GW Econ alum Atticus Francken (B.S. '16 in Economics, Math) - he has been named to the newest class of Schwarzman Scholars, a prestigious graduate fellowship. Atticus will pursue a master’s degree in global affairs at Tsinghua University in Beijing.

#GWEcon21 #GWAlumni

Atticus Francken, B.S. ’16, will pursue a master’s degree in global affairs at Tsinghua University in Beijing.

Economic analysis by Diane Lim, GW Professorial Lecturer in our Applied Economics M.A. program, is sourced in a new Forb...
12/14/2020
This Recession Is Particularly Harmful To Asian Workers

Economic analysis by Diane Lim, GW Professorial Lecturer in our Applied Economics M.A. program, is sourced in a new Forbes article.

Follow Diane on Twitter @economistmom and on her blog economistmom.com

#GWEcon21 #GWAppliedEcon

This recession has brought a lot of suffering for people looking for a new job. This is especially true for many Asian workers. And things could get much worse for these workers, mainly women, as the labor market is slowing amid the accelerating pandemic.

Diane Lim, GW Professorial Lecturer in our Applied Economics M.A. program, spoke with PBS NewsHour this week. According ...
12/11/2020
How women are disproportionately carrying the cost of COVID

Diane Lim, GW Professorial Lecturer in our Applied Economics M.A. program, spoke with PBS NewsHour this week. According to Diane, the economy shifted away from male-dominated manufacturing to female-heavy services after the Great Recession of '08. "People seem to get more pleasure out of experiences a lot more than buying things, like having a fancy car or buying a big house. And now all these really people-intensive jobs, those were exactly the jobs that got hammered."

Follow Diane on Twitter: @economistmom

#GWEcon21 #GWAppliedEcon GW Women in Economics

A recent survey found roughly a quarter of women were considering reducing hours, switching to less demanding jobs, or leaving the workforce altogether. At least 2 million women have dropped out of the labor force since last year. Paul Paul Solman has our "Making Sense" story as part of the "Chasing...

GW economist Tara Sinclair served as a panelist on the "Role of Big Data, Nontraditional data, and Machine Learning in E...
11/13/2020

GW economist Tara Sinclair served as a panelist on the "Role of Big Data, Nontraditional data, and Machine Learning in Economic Policy" at the 2020 Banca d'Italia and Federal Reserve Board Joint Conference on Nontraditional Data & Statistical Learning.

#GWEcon21

We are pleased to share that our colleague, Jay Shambaugh, GW Professor of Economics and International Affairs, has been...
11/13/2020
GW Experts Tapped for Biden’s Transition Team

We are pleased to share that our colleague, Jay Shambaugh, GW Professor of Economics and International Affairs, has been selected for the transition team of President-Elect Joe Biden and Vice President-Elect Kamala Harris. Jay will be volunteering with the Council of Economic Advisers transition team. He previously served as a Member of the White House Council of Economic Advisers (August 2015-January 2017), and as its first Senior Economist for International Economics and then Chief Economist (2009-11).

Jay is one of five GW faculty members named to help with the presidential transition.

#GWEcon21 #OnlyatGW

Five faculty members were named to help with the presidential transition.

Thank you to all of our faculty, students, alumni, colleagues, and friends who joined us at the virtual launch of the H....
11/12/2020

Thank you to all of our faculty, students, alumni, colleagues, and friends who joined us at the virtual launch of the H. O. Stekler Research Program on Forecasting. Panelists included Neil Ericsson, Fred Joutz, Prakash Loungani, and Tara Sinclair. The program is named after our renowned former colleague Herman Stekler.

For more information about the program and a schedule of events, please visit https://cer.columbian.gwu.edu/ho-stekler-research-program-forecasting.

(PC: Tara Sinclair)

#GWEcon21

According to Joann M. Weiner, Associate Professor of Economics and the Director of our Applied Economics M.A. program:“P...
11/09/2020
GW Experts Offer Predictions for Biden Administration

According to Joann M. Weiner, Associate Professor of Economics and the Director of our Applied Economics M.A. program:

“President-elect Biden may quickly take action in the following areas.

“First, he will work on getting the economy back to health, which means, as he emphasized during the campaign, that we must get the pandemic under control. He has already set up a coronavirus task force that is likely to set out conditions needed to keep people safe and healthy while also restoring the health of the economy.

“For the economy to turn the corner, economic activity must grow. This growth could take the form of reinstating the economic impact payments that were first provided under last spring's CARES Act. A final economic measure might focus on implementing his Build Back Better promise. Our country's infrastructure is long over-due for needed repairs and spending on infrastructure seems to have the bipartisan appeal needed to get the building back underway."

#GWEcon21 #GWAppliedEcon

University faculty specialists discuss how policies ranging from battling COVID-19 to foreign affairs are likely to change with Joe Biden in the White House.

GW Women in Economics
11/04/2020

GW Women in Economics

Hey everybody! A week from today we are having a joint event with the career center. You must RSVP at the link below, but it’s open to everyone! Hope to see you there!
https://gwu.campuslabs.com/engage/event/6566052

Economics Department at George Washington University's cover photo
11/02/2020

Economics Department at George Washington University's cover photo

We enjoyed an engaging virtual seminar presentation by #GWU Econ alum William Larson (Ph.D., 2011) on "Nowcasting Unempl...
10/26/2020

We enjoyed an engaging virtual seminar presentation by #GWU Econ alum William Larson (Ph.D., 2011) on "Nowcasting Unemployment Insurance Claims in the Time of COVID-19". The seminar was held by GW's H. O. Stekler Research Program on Forecasting, joint with the Federal Forecasters Consortium (FFC).

#GWEcon21 #GWAlumni

(PC: Tara Sinclair)

#GWU economist Tara Sinclair participated in the 21st IWH-CIREQ-GW Macroeconometric Workshop: Forecasting and Uncertaint...
10/20/2020

#GWU economist Tara Sinclair participated in the 21st IWH-CIREQ-GW Macroeconometric Workshop: Forecasting and Uncertainty. The workshop brought together academic researchers and practitioners to discuss new developments in the field of empirical and applied macroeconomic modelling. The event was co-sponsored by our H.O. Stekler Research Program on Forecasting.

#GWEcon21

(PC: Tara Sinclair)

#GWU Economics alum William Larson (Ph.D., 2011) will present a virtual seminar, "Nowcasting Unemployment Insurance Clai...
10/15/2020
William Larson | Department of Economics | Columbian College of Arts & Sciences | The George Washington University

#GWU Economics alum William Larson (Ph.D., 2011) will present a virtual seminar, "Nowcasting Unemployment Insurance Claims in the Time of COVID-19", on Thursday, October 22, 12:30-2 pm ET. Please email forecasting (at) gwu.edu to register (no cost) and receive a Zoom link to join the meeting online.

This seminar is being held by GW's H. O. Stekler Research Program on Forecasting, joint with the Federal Forecasters Consortium (FFC).

For our full schedule of our forecasting seminars, please visit: https://cer.columbian.gwu.edu/forecasting-news-events

#GWEcon21 #GWAlumni

Near term forecasts, also called nowcasts, are most challenging but also most important when the economy experiences an abrupt change. In this paper, we explore the performance of models with different information sets and data structures in order to best nowcast US initial unemployment claims in sp...

The GW community is invited to register for "Data Cleaning with Open Refine" hosted by the GW Libraries. This hands-on w...
10/14/2020
GW Libraries at the George Washington University | GW Libraries

The GW community is invited to register for "Data Cleaning with Open Refine" hosted by the GW Libraries. This hands-on workshop will teach you to use OpenRefine to clean and format data and automatically track any changes that you make which supports research reproducibility. This workshop is part of the Collecting and Analyzing Research Data series for anyone who needs help using statistical software packages to manipulate and analyze research data.

Please see the link for more information and to register.

GW Libraries at the George Washington University, including the Gelman Library on the Foggy Bottom Campus, Eckles Library at Mount Vernon Campus, and the Virginia Science and Technology Campus Library

Diane Lim, #GWU Professorial Lecturer in our Applied Economics M.A. program, hosted a fascinating virtual conversation o...
10/12/2020

Diane Lim, #GWU Professorial Lecturer in our Applied Economics M.A. program, hosted a fascinating virtual conversation on Friday called "What the Pandemic is Teaching Economists About the Economy" as part of our Applied Economics in Action series. Diane was joined by Applied Economics M.A. students, Program Director Joann Weiner, and Associate Professor Tara Sinclair.

For a listing of our future virtual events, please see https://economics.columbian.gwu.edu/news-events.

#GWEcon21 #GWAppliedEcon

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THE ENVIRONMENT AND UNIVERSE In cricket bodyline bowling is not welcome; so also is environment care negligence. Living and nonliving in visible and invisible brackets carry mass with soul energy element proportionately. This is based upon ageing factor in everything that exists. Any medical treatment, internally or externally, is supported by its assimilation inside the living body .This is by natural run of veins and related functionaries. If this does not happen, recovery is difficult. The natural function inside the body frame is a riddle. Surrounding waves extend surprising support around living and nonliving. They possess pure atomic sub particles to build up bridges to come closer to the nature for welfare. Here lies the attention. The natural nourishing atomic sub particles moving constantly under the universal umbrella get polluted due to throwing waste and also noise and space disturbances. To indicate a small example, throwing wrappers or skins of fruits, spitting on roads amounts to grave pollution and instantly harms the concerned and others by intake of polluted atmosphere. “Take garbage home’ is the only solution. As per the wrong intake, body gives signals for disturbances in health; similarly the nature due to pollution reflects problem indicators. Polluted waves render negative effect, making any treatment ineffective. To start with right format, pollution should not be spread anywhere any time. More the clean environment, more the healthy atomic sub particle waves to keep good health parameters. Any advance health care modes would not demonstrate proper response from the living body surrounded by polluted atomic sub particles. Nature produces everything and also takes care by natural pollution free waves which need environment care. Even in day to day life, cleanliness is vital all around. Nature in the original frame presents clean atmosphere and gives calls in the event of pollution. Nature heals to a major extent in health care. It is hence evident how important is the nature and how moving atomic sub particles require to be protected by pollution free environment? The existence of infinite objects including the earth in the universal stadium undertakes the prime function not to disturb the natural phenomenon. There has to be environment care race to form a part of Olympics activities. Pollution is nothing but bodyline bowling which the nature, the universal umpire, disallows to avoid crisis situations. Once again study of black holes which disposes the mass let off by ageing objects in space would help to get rid of waste on the earth to start with, followed by strict pollution control. In addition surrounding strength of atomic sub particles can be also analyzed to use for incinerating polluting elements. Even though substantial living in the form of animals, small creatures, birds, fish etc. does not have permanent abodes and remains in groups in different locations as per movements, it does not disturb the natural system. Smallest flies too fly so as not create traffic jam. Surprisingly trees extending shades and shelter are in static positions to avoid congestion in traffic. This sector does not pollute environment. Atomic sub particles on auto basis help in rendering beautiful seasons and offer help in meeting various living requirements. If excellent roads, footpaths with railings for pedestrians in cities, towns and villages in the world are developed and maintained with most attractive dustbins placement 2 indicating dangers of pollution, tendency of spreading any waste would be discouraged. Further particularly college, school students can be encouraged to use bicycles to build up health thus helping on reduction of energy fuel and also delivering atmospheric care. This approach can be promoted by free parking for bicycles and also some educational assistance. Bicycle manufacturers all over the world may with innovative ideas manufacture lightweight, durable, reasonably priced models to encourage sales amongst youngsters with a slogan ‘Love and Care the Nature’. In addition, bicycle riders- tracks may be thought of for villages, towns and cities in the world to encourage all age groups to ride bicycles, thus joining the Nature’s Health Welfare University. World tours on bicycles can also be arranged with stop points having necessary facilities. Charity Organizations may kindly donate bicycles in these efforts. In fact The Environment Care Drive may think on a logo based on ‘clear sky and rainbow’. Developed countries, United Nations and also world citizens may jointly cooperate in this grand endeavor with advanced technology on priority basis. The universe is the creation by waves with inbuilt atomic strength, which is the main foundation for visible and invisible formations in space house in the infinite range and it is an open assembly. When atomic sub particles are capable of such wonders why not segregate same for our needs by which approach there would be abundance in our requirements round the clock. In short the universe is atomic strength and vice versa; these sub particles in waves are pure at the outset and render positive trends to maintain balance continuously. When the natural phenomenon is on a foolproof system and is capable to give basic elements like eyes to all living including the smallest ones; then the universe by itself must be having infinite eyes, hands in its body form to control any imbalance magnificently. The whole scenario is the splendid grandeur of the nature concealed within without uncertainties and probabilities for the continuous safe run. Hence analysis and segregation of sub particles would go a long way to meet essential needs for welfare. The sun gives light, the moon sheds soothing reflected light which does not happen on calculations but something beyond mathematics. The infinite universe may be operating on tapping with balanced auto run of sub particles. This is the real affectionate cooperation without any expectation. It is high time to go hand in hand with the nature by not even thinking in disturbing its performance. Discoveries in various areas are possible only because of natural laws and backup energy. If this system does not respond in the polluted environment, engineering equations as of now would need changes and affect the energy outputs. Finally the source of solving all problems lies in atomic sub particles. By clean environment it is possible to keep the natural rhythm, thus also enabling the mother earth from ageing in particular and the universal setup in general. H V Navangul Age 82
"Elijah Bowen’s professor at Anne Arundel Community College, Reb Beatty, told students that they could bring a "3x5 card" to aid them during the upcoming exam -- but he meant inches. Bowen noticed that his professor didn't specify metrics and instead brought in a 3x5 foot card, which helped him successfully pass his first exam of the semester on Tuesday in his Financial Accounting class."