Fall-Winter 2020

The eDGE

FALL/WINTER 2020 ECBU Department Newsletter

IN THIS ISSUE • Scott Shipp Hall Renovations • Cadet Develops New Healthcare Process • Teaching and Learning in a Pandemic THE EDGE

Keep Calm & Carry On The eDGE

You have in your hands (and/or on your ECBU Department Newsletter computer screen) the eighth issue of The Edge, in the fifth year since we started this departmental Publisher magazine. To remind you, The Edge was founded to Andrew Wolfe provide detailed and interesting news of and about our lively department. I feel we have done just that, Editors over the past five years. Bruce Macdonald And of course, I never anticipated what this Ray MacDermott year, 2020, would be like, a year of changes and Designer adjustment. First, we faced the long-planned, and Karen Bowen long-anticipated move out of our offices into close quarters (very close quarters!), as the long-anticipated renovation of Scott Shipp Hall began. Editorial Advisory Board Private meetings with cadets had to be carried out in the hallways, or wherever Robert Glidden we could find an empty classroom, privacy suffered but trust prevailed. Former Ohio University President Then the pandemic took center stage, and when cadets departed in mid- George Kester March, it was evident that our world was about to change. The pandemic Professor of Finance, W&L University dictated a new way of teaching, of learning, and adjusting. We, the faculty, Mike Meads took classes on Canvas, or for those more advanced (and no doubt younger Vice President, Wells Fargo Advisors of us!) the chance to perfect online skills. We learned about teaching via Jay Melvin Zoom, and had to make hard decisions on whether to teach virtually, or Chairman, CornerStone Bank, Lexington hybrid. It was, and remains a new world. On balance, I think we have achieved The Edge is published twice a year in a great deal and have learned a great deal. The cadets faced many of the print and via email. Let us know if you same challenges, but often had the advantage of a greater knowledge of the would prefer a print or email newsletter or incredible possibilities of computer learning. both. Much of this is reflected in this issue of The Edge. The cover story is Phone: (540) 464-7237 on the renovation and expansion of Scott-Shipp, the final article is on the personal reflections written by faculty and cadets on what it is like to teach, Fax: (540) 464-7005 and to learn, during these trying, and demanding times. Book ends of an incredible year! The Edge is the newsletter of the In between you will be able to read about some of the initiatives and Economics and Business Department new teaching programs initiated by our remarkable, flexible ECBU faculty. (ECBU) of The Virginia Military Institute It was a year in which the WWII adage, Keep Calm and Carry On, gave new (VMI) located in Lexington, Virginia. As meaning. a registered institute of higher learning –Col. Clifford West, Department Head, ECBU and an accredited member of the AACSB, our mission is to educate the young men and women enrolled in this institution. Our courses specialize in all aspects of News from the economics and business with an ongoing effort to provide enlightenment and focus of the world in which our students will Personal Finance Club emerge after graduation. We welcome readership involvement and are interested he VMI Personal Finance Club is pleased to announce that in spring in your opinion. We are strongest with 2021 it will be hosting a certificate program in personal finance. your involvement. We encourage students, TMr. David Abbey of MassMutual will conduct the program through faculty, alumni, and interested friends of Zoom. The 5-week program will occur on Monday nights from 2000 to VMI to submit articles and article ideas. 2100 from February 1, 2021, to March 1, 2021, barring any unforeseen Send them to [email protected]. changes to the Institute’s current spring schedule. The following five topics will be covered each week during the program: © 2020 VMI ECBU

2 FALL/WINTER 2020

• Week 1: Common Financial at MassMutual during summer 2021. that are highly applicable to cadet life Mistakes Cadets who are interested in such an such as paying for class rings. In true • Week 2: Investment internship are asked to contact Cadet VMI fashion, the club seeks not just to Hoeft via email. Mr. Hoeft interned with assist its members but also to help the • Week 3: Insurance MassMutual during summer 2020 and City of Lexington and the surrounding • Week 4: Debt Management can talk with cadets knowledgeably about communities, when opportunities arise. what the internship experience may entail. The Club is considering expanding • Week 5: Retirement In a recent email to the current club its list of executive officers to include a The program is open to all cadets at roster, Mr. Hoeft described the internship club secretary and marketing director. the Institute on a first-come, first-served as “100% worth it.” Interested cadets should contact basis. Enrollment in the program will Founded in 2018, the VMI Personal club faculty advisors, Maj. Simms, cost $50 per cadet. The Dean’s office has Finance Club strives to help cadets learn faculty advisor, [email protected] or graciously agreed to reimburse the first 20 to manage their finances while they are Col. MacDermott, faculty advisor, cadets who complete the program for this enrolled at VMI and after they graduate [email protected]. $50 enrollment fee. If you are interested from the Institute. The club is open in signing up for the certificate program, to all VMI cadets regardless of major; please contact the club’s CIC Matt prior knowledge about personal finance Reimann at [email protected] is not required. Topics that the club has or ACIC Bobby Hoeft, hoeftrt22@mail. investigated have included: applying vmi.edu. for student loans; improving credit Cadet Hoeft is helping to coordinate scores; managing cash; and planning for the introduction of VMI cadets for retirement and for other saving goals 10–20 internships positions available

Looking at New Cultures

generous donation by ECBU to develop and lead summer study research and provide funds for alumnus, Tom Watjen ’76, and abroad programs. software, datasets, experiments, and A his wife, Nanette Watjen, to the The mission of the Cross Cultural other resources. Economics and Business Department Internship Program is to provide ECBU The fourth initiative, the WELD has allowed us to launch a number cadets the opportunity to work in Practicum Assistant Grant program, of new initiatives under the umbrella different cultures and economic encourages ECBU cadets to apply their of the new Watjen ECBU Leadership systems so that they excel in a global knowledge and skills to serve the local Development (WELD) Program. business environment and are effective community and help local non-profit The program consists of five new global leaders. The initiative provides organizations, and foster cadets’ sense initiatives—Study Abroad Program, scholarships for tuition for ECBU of public service. The program covers Cross Cultural Internship Program, department approved domestic and stipends for cadets to work with local WELD Research Initiative, WELD international internships for credit with organizations. We are launching a pilot Practicum Assistant Grant, and the a focus on cross-cultural issues. of this program in spring 2021. WELD Leadership Funds. The third initiative, the WELD The last initiative seeks to provide The Study Abroad Programs initiative Research Grant initiative, is to facilitate opportunities for members of the seeks to provide ECBU cadets the ECBU faculty-led undergraduate ECBU honor society and ECBU clubs/ opportunity to directly engage with research to foster cadets’ intellectual organizations to attend conferences, other cultures, and other political and curiosity, support cadets’ academic invite speakers, and organize discussions economic systems, so they learn to be growth, and provide opportunities on topics related to economics and compassionate citizens and effective for cadets to apply and improve their business. global leaders. This component of economics and business knowledge All full-time faculty in the the program provides scholarship and skills. The program is still being department are involved in the WELD for cadets to study abroad as well as developed and will hopefully give tuition initiative. funding for faculty in our department remission for summer undergraduate

3 THE EDGE

Scott-Shipp Hall Renovation and Expansion—an Update

s the cover photo reveals, during the spring and work is almost completed. Mr. Rogers did tell me about summer of 2019 ground was broken for the long- a difficult problem they encountered early on. Obviously Aanticipated, long-desired renovation of Scott-Shipp to build tall and expanded space (new space), footers had Hall, home for the Economics and Business Department to be dug and placed to support the weight and bulk of (along with the English Department, International Studies, the walls. Normally this is done with what is called a “hoe History Department, and Modern Languages). Some would ram.” It was unsuccessful at breaking up strong ledge rock say it was long overdue, since the original building was erected they encountered and blasting wasn’t an option due to the in 1918, added onto in 1955, and renovated during 1998–2000. presence of the many buildings nearby. A third option At this point, the building is about 75 percent complete. was suggested and it worked—expansive demolition Windows are being placed, interior rooms are being framed in, grout or mortar (called “Dymaite”) was used. First a series and furniture is on the way. of bore holes were drilled—then Dymaite was dropped In this article, we will sketch in the highlights of this into the holes. Dymaite contains an Epoxy chemical that massive project, now approximately 16 months in the making. when mixed with water will expand (slowly), so that after Some highlights: a period of time, it is capable of applying enormous pressure of approximately 18,000 pounds per square inch • Phase I. In October of 2019, I interviewed Kevin Rogers, to the rock. By drilling numerous holes and then filling Superintendent for The Whiting-Turner Contracting them with this magic substance, the rock was cracked, and Company, who gave me a full and informative briefing. could then be removed. Obviously this is slower than a The project will be completed in two phases. Phase I is simple power driven bore, which slowed the timing of the devoted to demolition, outside and inside, essentially the project. Rogers told me that they were finally able to pour new addition, what is known as the 1950s’ Annex. This concrete into these holes—thus essentially forming the

4 FALL/WINTER 2020

Fourteen months after cover photo taken

footings by mid-October. This allowed them to complete handsome casement windows, now carefully restored and the footings, so that in two to three months they would be cleaned. out of the ground and the footprint will be clear for all to • Phase II will be the renovation of what is called the see and anticipate. “1918 Building.” This will begin in spring of 2021. It will be more a renovation than new construction, and • In January of 2020, construction began, and that is largely internal. New HVAC will be installed as well as where they are still today, building out the east wing of essentially improving what is already there. Scott-Shipp, all concrete walls, floors, and ceiling. WHAT IT WILL BE LIKE • The only delay Mr. Rogers anticipates in this phase would • When ECBU, and the other departments finally move be the necessity to preserve many windows because in (hopefully by early January 2021), we will enjoy, and they are historic. About this delay, he commented, be able to teach in greatly improved physical space “Yes, I understand their value, and some cannot even (a projected 28,000 feet of additional usable space be removed to be fixed. We have placed white index throughout the building—additional 5,000 square feet cards on them so that no one will remove or alter those on each floor), larger classrooms, and interactive areas windows in any way.” called “Collaboration Spaces.” Our department (ECBU) will move from the third floor to the second in the In November of 2020, I interviewed Col. Keith Jarvis, newly renovated space, we anticipate, with a computer- Director of Construction. He assured me that the Phase I activated wall screen showing stock and bond quotes in work was almost complete and that we (the faculty) would be real time, a high ceiling conference room, and interesting able to move in over the Christmas Break. He was enthusiastic wall graphics. about the new features, the interior of the building, and how well it will improve the teaching experience for all of us. He So, we are excited for it to end, and more importantly also suggested that I see the exterior of one part of the new for the chance to teach in this new space and enjoy all the building—where the scaffolding and coverings have just improvements. been removed. I did and have included a photo showing the

5 THE EDGE

Col. Barry Cobb worked with Cadet Tristan Howard to develop an important, new healthcare process

ndependent study projects are a valuable part of the calculate the total costs for several different staffing and curriculum at VMI and vary widely in subject matter hiring plans at last allowing the PICU to judge the costs Iand application. Their advantages are numerous. They associated with various plans, as well as determine the provide variety to the curriculum, inspire special thinking, financial impact of proposed process improvements. and often benefit some aspect of life for the community at large. Five years ago, two cadets worked on an application of 2. Now, thanks to his model, Tristan could provide the the Shepherd Program for people in Lexington and Buena outcomes of his project with the nurse manager at Vista that would inform and help the maintenance staff and the PICU and accurately forecast their current staffing workers at VMI and W&L learn how to work with banks levels. This is important because it allows the PICU to and savings and loan institutions. Another notable case was use the model to match staffing with future demand last summer, when Col. Barry Cobb worked with a cadet on and evaluate process improvement and investments in an important project that earned that cadet the prestigious infrastructure that reduce costs and improve quality of Wilbur S. Hinman Research Award. care. Tristan’s model can be directly applied in practice in Cadet Tristan Howard ’20, an Economic and Business numerous health care settings. major, approached Col. Barry Cobb to discuss and then Quite an achievement! For such a project Cadet Howard for permission to pursue an independent study project that earned the nomination for the Hinman Award from the (broadly speaking) involved investigating staffing models ECBU department by presenting his research to the faculty used in health care operations. In the past year, working with along with four other deserving cadets. The faculty then Col. Cobb’s guidance, he developed an aggregate planning voted to nominate Tristan as the most outstanding research model that can be used by the pediatric intensive care unit project in the department during the academic year. (PICU) at the University of Virginia (UVA) to forecast its Tristan Howard already had a longstanding interest in staffing requirements and labor costs. The result of his study, healthcare, and appreciation for the role of nurses. Here and thesis, will now allow UVA to PICU business to match is how he put it in an interview last year. “Nurses have a its capacity to serve patients with the demand for its services much broader application of their skills and attention—like over a time period of one year. Here is how he developed it. the critical and daily tasks of ensuring that medications are 1. Tristan began by developing a patient demand forecast ordered and ready when needed and to confer with physicians from actual patient load data provided by the PICU. regularly and finally to document each patient’s care with This process included testing nine different time series meticulous accuracy. As he put it “The nurses do a ton of forecasting methods and comparing the results based work and I hope, in my study, to document, recognize, and on three different error measurements for each method. determine how much they can and actually do. Ultimately, he combined the top four forecasting Last summer, whenever he wasn’t working on his methods. 2. Next, he documented the time required independent study project, he could be found at the on the regular patient care tasks by PICU nurses. This Lexington Fire Department, where he serves as a firefighter/ involved three meetings with PICU nurses and the EMT. After graduation Tristan hopes to work in Chesterfield, nurse manager. 3. He was now able to create a model VA, as an EMT. that translated the forecasted patient loads over the next year into the total requirements for required nursing hours. 4. This allowed him to develop occupancy and utilization assumptions that can capture the time spent by nurses on other paid activities not included in the regular patient care tasks. 5. Next he was able to translate the required nursing hours into a staffing and hiring plan by considering potential overtime hours and attrition. 6. And finally this hiring plan allowed him to

6 FALL/WINTER 2020

Steve Landgraf And Tim Murray

ince our last issue of The Edge, Internet service and electricity. He is track and field, and cross country. He the ECBU department has seen also interested in, and pursuing research is still an avid basketball player today. Smany changes and added to our into Urban Economics. His first move Following high school, he attended faculty. Two new hires are profiled here, (and job—post graduate degree) was Virginia Tech (for three years) and then beginning with our newest professor, as an assistant professor at Wittenberg transferred to Old Dominion University Steven Landgraf. I interviewed him in University for 2 years. in Norfolk, Virginia. At Virginia Tech, mid-November and very much enjoyed I knew the answer to one question he initially majored in Mechanical the experience. before I asked it—what was his life Engineering, but he changed his major First of all, Steven is a like growing up in Wisconsin? This is to Economics in his sophomore year. Midwesterner, born in Wisconsin and a land of bountiful and beautiful lakes After completing a BA in Economics spent most of his life (so far) there. and woods. He responded immediately, with a minor in Applied Mathematics, He attended St. Norbert College “Fishing of course, hiking, and hunting he continued to pursue an MBA and in De Pere, Wisconsin, where he with my buddies but most meaningfully, MA in Economics at Old Dominion majored in economics (which is just with my dad.” Steven’s wife is named University. To complete his education, 15 minutes down the road from where Kim, and she has a Ph.D. in Medieval Tim then moved Connecticut to pursue the Greenbay Packers play). He went Literature (also from Florida State). his Ph.D. in Economics at UConn in on to get a master’s degree in applied They met while both were students at Storrs, Connecticut. He graduated with economics from Marquette University St. Norbert. She is also teaching at VMI his Ph.D. in May of 2019 and is now in Milwaukee, and then worked for two in the English department as a visiting an Assistant Professor of Economics years as a market analyst for a small assistant professor of English. They rent in the ECBU department at VMI, electric utility headquartered outside a house on Summit Street in Lexington, where he currently teaches courses that of Madison. This period was a decision which they share with two cats. include Principles of Microeconomics point in his life to continue to pursue Welcome aboard, Steve (and Kim). and Labor Economics. the world of business and investment I originally interviewed Tim in Tim has research interests in labor analysis, or to become a teacher. October of 2019, shortly after he came economics, health economics, housing In 2013, he decided to enter the to Lexington and joined the ECBU economics, and the economics of world of academia; to go back to school faulty at VMI. This is an updated profile. aging. His current research focuses on to pursue a Ph.D. in economics and Timothy Andrew Murray grew two general topics. First, how retirees become a college level professor. That up in Williamsburg, Virginia, and was can maximize their consumption in took him to Florida State University in quite an athlete. Because of his height, retirement, specifically understanding 2018, where he wrote his dissertation it is not surprising that he was active in how they could and why they do not use on competitive issues in markets for sports growing up, including basketball, their housing equity for that purpose. Second, how the health of men and Steven Landgraf Tim Murray women differ from different types of environmental and physical stimuli. These, and more were discussed with Tim in our interview. Tim has lived in Lexington since his arrival at VMI in July 2019. In his free time, Tim spends a lot of time at the gym lifting and playing basketball. He also is an ardent fan of movies, quality TV series, and watching sports. Some of his favorite movies include Star Wars, Harry Potter, the Avengers series, Forrest Gump, and Lord of the Rings. His favorite TV shows include The Office, Game of Thrones, Breaking Bad, Ozark, and The Mandalorian.

7 THE EDGE

Teaching/Learning in the Pandemic

ecause the pandemic has strategies and understood this was not how similar it is to learn as if it were imposed itself on our lives so one size fits all in terms of teaching or in person. But for the most part it isn’t Bsignificantly, forcing professors selection of technology. For me, the really different. It allows you to be more to teach (sometimes) hybrid style, behind best approach ranged by class.” relaxed, and not have all the stressors Plexiglas® screens or alternatively –Major Kathy Simms of a school like VMI. You get used to sometimes virtually from home, I “The silver lining of the pandemic your teacher being behind Plexiglas® decided to find out how, and in what is that it made it necessary for us to pretty quick. It becomes the norm. I manner, the result will be reflected next learn new technology. This technology think the value of our education is still year—or perhaps many years from now. decreased the costs (both monetary and equal to what it was before.” FIRST FROM FACULTY time commitment in terms of travel) –Cadet Reeves Whitmore “The best new thing I started doing of attending presentations, workshops, because of the pandemic is to have and discussions both for students and cadets read a case study (usually from the for faculty.” Wall Street Journal that is about two pages –Col. Valentina Dimitrova-Grajzl long) prior to my lecture on a particular NOW FROM CADETS chapter. They have to summarize the “During these unprecedented case study in one page and then provide times during the pandemic, there connections to the chapter or any have been many struggles with the previous chapter in a half-page. Then, FINALLY, FROM COL. TINNI way we are learning. Online learning SEN ON ZOOM FATIGUE they have to discuss the case with other is very challenging at times due to all cadets on the Canvas Discussion Board Exhausting, is how both my cadets of the many distractions in barracks. and colleagues would describe the within 3–4 days. I provide feedback Roommates and other cadets are on the summary, connections, and the fall semester. For those who taught constantly coming in and out of the in person, or a mix of in-person and discussion for each cadet. This has been room performing their daily activities a great way to get cadets to engage with online, speaking loudly and clearly while class is in progress. However, the through a mask that trapped the virus, each other and the material.” professors are doing an excellent job –Col. Jennifer Gerow and carbon dioxide, made breathing providing the information to the cadets difficult. For the first time, I was out of “The pandemic has provided some in a way that helps them be successful. breath often, stopping to turn away and fascinating examples that have been I believe that even though we are loosen the mask, then turning back to used to reinforce principles taught in my learning differently, I am still learning resume class. It slowed me down. I had courses. For example, supply chains for new information that will help me be not anticipated that when I planned my products like toilet paper and meat have successful in the future.” classes. “Zoom fatigue” crept into those been affected. In the case of toilet paper –Cadet Wil Knight classes that met partly or wholly online. and cleaning products, we discussed “Learning in the pandemic envi- But, as in any period of challenge, in operations management that the ronment has been a learning process we learned to innovate, and there were shortages are occurring temporarily within itself. While the change in silver linings. “Zooming” into class every because these type of products have had environments has been helpful in some other day, I was able to engage each and stable demand patterns for decades, so respects, personally, I believe nothing every cadet in each and every CP. There manufacturers produce these in a lean beats face-to-face interaction between a is no way to hide in the back row! environment without capacity buffers. teacher and student. I believe that the What does the future hold? Please, They are unwilling to add capacity for value of education now is no longer ye fates, all in-person classes. But with a a short-term surge in demand because worth its price as students are paying for dash of zoom conversations with cadets this would cause the bullwhip effect classrooms they don’t use and teachers who are indisposed, a few more animated to occur, and this would likely lead to they have limited access to.” lectures posted to canvas, more online excess inventory at some point.” –Anonymous discussion boards where even the most –Col. Barry Cobb “Learning under the conditions of introverted of students can participate, “I’m grateful that the Institute online only isn’t that bad. It is what you and above all, less complacency with our allowed us to develop our own teaching make it. It also depends on the class on model of teaching.