Posts for Economics

An Economic Explanation for Why Donald Trump Won the 2016 Presidential Election

By Dr. Pierre Canac – With real GDP growing at 3.2% during the third quarter of 2016 while unemployment was running at 4.6% in November and 178,000 jobs were created during the month, we could have expected that the voters

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Friendship Ambassador Award Gala: US – China People’s Friendship Association

By Dayuan Peter Liu – On Friday October 28, 2016, at the Kim Son Downtown Ballroom, the US-China People’s Friendship Association (USCPFA) Houston Chapter hosted the 10th Annual Friendship Ambassador Award Gala. The University of St. Thomas is a Silver

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Advertising and Economics

By Dr. Hassan Shirvani–Advertising is an important feature of our daily economic life.  As we watch TV, listen to radio, read newspapers and magazines, and use social media, we are constantly bombarded with advertisements.  For this “privilege,” we are asked to pay some $325 billion per year, roughly

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Insight from Former Treasury Secretary Lawrence H. Summers: Global Perspectives Speaker

By Jeffrey Coburn—On September 27, 2016, the Federal Reserve of Dallas, Texas, held its Global Perspectives Speaker Series, featuring Former Treasury Secretary Lawrence H. Summers. I was interested in going to the event because I want to learn more about

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How to Succeed in the Cameron School of Business: An Insider’s Scoop

Whether a student is a first generation college student or comes from a long line of college graduates, college can be a new world of experiences and challenges for students.  Many times students aren’t aware of the skills, behaviors, and

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15 Days in Cuba: A Unique Study Abroad Experience

By Barbara Bordon –After the relaxing of the US embargo to Cuba in 2016, the island has received a considerable number of US travelers. The University of St. Thomas organized a study abroad trip to Cuba in August, and there

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Psychology and Economics

By Dr. Hassan Shirvani—Among the collateral damages of the recent global economic crisis has been the reputation of the economics profession whose members famously failed to anticipate the financial tsunami that rocked the world. Enmeshed in their complex mathematical models with their highly unrealistic assumptions, most economists were seemingly as stunned by the suddenness and the severity of

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Schumpeter on Entrepreneurship

By Dr. Hassan Shirvani –Since the great Austrian economist Joseph Schumpeter (1883-1950) introduced the concept of entrepreneurship into economics almost a century ago, economists have struggled to systematically incorporate this concept into their models of economic development, with only limited

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A Mathematical Gem from Euler

By Dr. Hassan Shirvani–The Swiss mathematician Leonhard Euler (1707–1783) is widely considered as one of the greatest mathematicians who ever lived.  He made fundamental and path-breaking contributions to many areas of mathematics and physics.  In the following example, Euler displays

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Can There Be Too Much Finance?

By Dr. Pierre Canac –Finance certainly plays an indispensable and positive role in promoting economic growth and overall employment. However there is some evidence that the relationship between financial development and GDP growth is not linear, but instead has an

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