Peter Orazem Was Instrumental Awards and Acknowledgments
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Department of Economics Iowa State University 260 Heady Hall 518 Farm House Lane Ames, IA 50011-1054 Editor Joshua Rosenbloom Managing Editor/Layout Deborah Gruca Iowa State University does not discriminate on the basis of race, color, age, religion, national origin, sexual orientation, gender identity, sex, marital status, disability, or status as a U.S. veteran. Inquiries can be directed to the Director of Equal Opportunity and Diversity, 3680 Beardshear Hall, 515-294-7612. Printed with soy ink. http://www.econ.iastate.edu Greetings from Dr. Rosenbloom continued from page 1 In April, Professor Cathy Kling was named by Iowa Economics Club had the opportunity to have lunch State President Steven Leath to the President’s Chair with and meet Berkshire Hathaway CEO Warren in Environmental Economics. (Last year, Kling was Buffett. The Ag Business Club, which has won the elected to the National Academy of Sciences, only the AAEA’s Outstanding Student Chapter Award ten eleventh faculty member, and the first woman at Iowa of the last 12 years, received an unprecedented State to receive the honor.) Professor Quinn Weninger endowment for club activities. Read more about was named the John F. Timmons Endowed Professor in those and other student successes and research Environmental and Resource Economics (page 2). starting on page 8. Two assistant professors, Georgeanne Artz and And, of course, don’t forget to see what some of Lee Schulz, received university awards this year. Artz our illustrious alumni are up to starting on page 16. won the Award for Outstanding Service; Schulz As you can see from this brief summary and from received the Early Achievement Extension and the stories in this newsletter, there is a great deal going Outreach Award. On page 4 you’ll find their stories. on in and around Heady Hall. We appreciate your Our students have also had an eventful year. ongoing interest in the department, and would love to For starters, last October twenty members of the hear from you if you have news to share. ° Connect on Facebook at: https://www.facebook.com/ISUEconDept 24 | ISU Department of Economics Update Department of Economics Spring 2016 Greetings from the Chair igns of spring are everywhere around campus: individually irrational, the tulips are up, the redbuds are in bloom, and but collectively students are preparing for final exams. It is hard beneficial. I am thus Sto believe that we are coming to the end of my first very much aware academic year at Iowa State. of the debt I owe As John Schroeter informed you in last year’s to my predecessors newsletter, I came to Iowa State after nearly three in the position of decades on the faculty at the University of Kansas. department chair, No matter how carefully considered, moving to a new for it is the fruits of employer and a new community represents something their efforts that I of a leap of faith. By the time I accepted the offer of am reaping. Most the position of department chair, I knew a good deal immediately, I am about the strong research and teaching reputation grateful to John of Iowa State’s Economics Department, and had Schroeter, who served learned about its long and impressive history. But a as interim chair for Joshua Rosenbloom, Chair department is so much more than that. four years, and to Since arriving in Ames last August I have GianCarlo Moschini, who preceded him. As such, I discovered the more intangible things that make the want to extend my thanks to them for taking such department special. I have been welcomed warmly by good care of the department. all of my new colleagues, not just professionally but As a newcomer to Iowa State and to Ames, much socially; and I have observed firsthand the sense of of my fall semester was spent learning my way community that extends well beyond a shared goal of around, both literally and metaphorically. During advancing the frontiers of economic science, teaching this time, I met individually with every member in economics at both the undergraduate and graduate the department. Learning about the full range of level, and sharing our expertise to benefit the citizens activities of our faculty and staff was both inspiring of Iowa, the United States, and the world. and humbling. Among other things, they are involved In the language of economics, one can describe in supporting undergraduate learning communities, this sense of community as a “public good.” And, as leading travel courses to far-flung destinations, we know, there is a tendency to underprovide public mentoring graduate students, offering advice to the goods and to free ride on others’ contributions. One government of the State of Iowa, and consulting on of the important functions of a department chair is economic development in Ghana. I cannot possibly to discourage free riding, creating an environment tell you about all that has happened in and around that encourages individuals to act in ways that are Heady Hall over the past year. But I do want to share with you a few highlights. University Professor Peter Orazem was instrumental Awards and acknowledgments .................. 2 in arranging speakers for the Economic Forum Lecture Ivan Rudik: The costs of climate change .......... 6 Series this year. Heidi Shierholz, Chief Economist, U.S. Faculty profile: Peter Orazem .................... 7 Department of Labor, and Joshua Lerner, Harvard Graduate student research ...................... 8 University, along with invited alumni, came to Iowa Graduate student achievements ................ 10 State as a result of an anonymous grant. You’ll see Undergraduate student achievements ........... 11 more about that on page 7. Undergraduate student research ............... 14 Alumni news ................................. 16 Faculty & staff updates ........................ 21 Continued on back page Awards & Acknowledgements Kling Named to President’s Chair in Environmental Economics her exemplary performance and Development. Last year, she contributions to natural resources became Iowa State’s first female and environmental economics. faculty member to be elected to Kling was honored April 15 at the National Academy of Sciences. a medallion ceremony during The President’s Chair in the ISU Foundation Governors Environmental Economics was luncheon. established with support from the Catherine Kling Kling is a Charles F. Curtiss Howard T. Lanan and Evelyn M. Distinguished Professor in Lanan Endowment for Excellence. resident Steven Leath has Agriculture and Life Sciences, Howard Lanan was a 1938 Iowa Pnamed Catherine Kling professor of economics State graduate in agriculture; the to the President’s Chair in and director of the Center Lanans farmed for more than 60 Environmental Economics for for Agricultural and Rural years in Illinois. ° Weninger Named Endowed Professor SU Professor of Economics theory and econometric methods IQuinn Weninger has been named to improve the management of the John F. Timmons Endowed natural resources,” said Weninger. Professor in Environmental and “Much of my work features market- Resource Economics. based approaches for managing The Timmons Professorship was resources-based industries, such as established by a $200,000 gift from property rights-based approaches his wife, Dorothy L. Timmons, and in marine fisheries. My recent son, John L. Timmons, in memory work addresses management of John, who served Iowa State challenges in multiple-species University for more than 37 years fisheries under joint ecological and as a professor of economics and economic interaction. This research Quinn Weninger major professor to 140 graduate contributes to a growing literature students. Professor Timmons was on ecosystem-based fisheries colleagues, and ISU have entrusted a pioneer in the field of resource management, which seeks a more me with the responsibility of and environmental economics, holistic approach to managing carrying out the Timmons’ vision. I receiving numerous professional marine resources.” am truly grateful for this award.” honors and awards for his work. His other recent work studies Joshua Rosenbloom, chair, Quinn Weninger, an environ- rational search and learning said of the nomination, “The mental and natural resource in uncertainty production Economics Department greatly economist, joined Iowa State in environments, market-based appreciates the Timmons family’s 2000. He earned a bachelor’s in forest approaches for managing bycatch of gift that has made possible this science in 1989 from the University unwanted or prohibited species, and endowed position, which affirms of Alberta in Edmonton, Alberta, capital investment motives, market their belief in the value of academic and a doctorate in agricultural performance, and rent redistribution research and the importance of and resource economics from the under cap-and-trade regulations. the continuing pursuit of new University of Maryland in 1995. Weninger said, “I am honored knowledge in environmental and “My research uses economic that the Timmons family, my resource economics.” ° 2 | ISU Department of Economics Update Edwards and Jolly Receive Faculty InspirationAwards meritus Professors William EEdwards and Robert Jolly’s, contributions to the fields of farm and agribusiness management span several decades, including ground- breaking Iowa State University Extension work that provided assistance during the 1980s U.S. Farm Crisis. William Edwards Robert Jolly Edwards and Jolly each received the Distinguished winning Ag Business Club and more than 30 years, Edwards and Service to Agriculture Award co-authored the popular textbook Jolly together provided leadership from the American Society Farm Management. for the Agricultural Credit of Farm Managers and Rural Jolly has focused his teaching School, an annual educational Appraisers, as well as the ISU and research on international event sponsored by Iowa State College of Agriculture Award programs, providing training and University and the Iowa Bankers for Excellence in International education for the agricultural Association. Both men have Agriculture, among other honors. sectors of transition economies in made an indelible imprint on the Edwards spent 10 years as eastern Europe, the former Soviet lives of their former students.