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.