Tag Archives: Michigan Technological University

Finance Club Visits Chicago

On November 4, the Finance Club had the opportunity to visit Chicago to meet with finance professionals across the industry. First they visited Northern Trust, a financial services company. The club had the opportunity to speak with professionals who specialize in areas such as wealth management and private equity. The professionals at Northern Trust emphasized the importance of taking advantages of opportunities, such as internships and school programs like APMP. Students also learned that it is important to constantly challenge themselves to make a lifetime career, not just a job.

The club then had the opportunity to tour Chicago Board of Options Exchange (CBOE). There, the club learned how trading used to be conducted in the chaotic world of trading floors and see how much technology has impacted trading and investing.

Students were also able to tour the Chicago Federal Reserve where they learned about the role the Federal Reserve plays in the U.S. economy. The Federal Reserve is responsible for functions such as setting monetary policy and regulating the banking industry. It is also responsible for keeping the money supply at sustainable levels around the country. The club had roughly $3 billion of cash under their feet as they learned about the nation’s bank.

After a successful trip to Chicago, the Finance Club says they are ready to spread knowledge throughout campus through multiple financial literacy events.  Stay tuned for more information!

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Brown Bag Lunch Seminar

The School of Business and Economics will host its first brown bag lunch research seminar of the semester on Thursday, September 15 at 12:00pm in Academic Office Building 101.  Dr. Tom Merz and Professor Russ Louks will present their exciting new study.

Title: Scorecasting: A Laboratory Experiment of the Framing Effect on Risky and Safe Choices in a Strictly Competitive, Repeatedly Played 2X2 Game.

The experiment consists of two players (subjects) playing repeated rounds of a “simple” game involving binary choices for each player.  The game is one of pure conflict – constant sum, with each round having only one winner.  Players choose simultaneously – without knowledge of the choice of his or her opponent.  The stage game has a unique Nash equilibrium in mixed strategy (the minimax solution).  With two players each making one of two choices, each round has four possible choice combinations.  Once each player makes a choice, the winner of a round is determined by a random draw, with the odds of winning being dependent on the choice combination.

 

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Economics Student Returns from Washington DC

Jerrid Burdue (a third year economics student) just returned from presenting his winning iOME essay in Washington DC.  Faculty adviser, Dr. Emanuel Xavier-Oliveira and the Interim Dean of the School of Business and Economics, Dr. Dean Johnson accompanied Burdue on his trip.  Jerrid discussed his proposal for improving the savings of millennials with Senator Stabenow, and met with Senator Peters to talk over his currently pending bill, THE COMPETES BILL.  This bill would increase funding for STEM research.  Burdue, Oliveira and Johnson discussed ways the School of Business and Economics could assist with the implementation of the bill. The group was also able to spend extended time with Senator Peter’s key staffers that work with retirement savings where they discussed the importance of the commercialization of this research.

While in Washington, Jerrid was also featured on a panel to discuss millennial savings patterns and habits.  Other panelists included representatives from the Department of Labor, the Treasury Department, and Congressional staff from both republic and democratic parties.

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Read more about Burdue, and see his essay here.


SBE Student Wins National Essay Competition

By Mark Wilcox

A promotion used at his financial institution, provided the inspiration a Michigan Technological University undergraduate needed to take the top prize in a prestigious national essay competition.

For the past four years, teams from Michigan Tech’s School of Business and Economics had advanced to the finals of the iOme Challenge. In 2012 the SBE team took home Honorable Mention and a $2,000 prize. Finally this year, a Husky has emerged as the champion.

Jerrid Burdue has been named winner of the iOme Challenge for his essay and innovative video focused on federal government proposals related to education requirements, the myRA program, Social Security taxes and the Saver’s Credit.

As a result of the win, the third-year student from Niles, Michigan, was awarded the top prize of $5,000 and will travel to Washington, D.C. later this month to present his essay at the Women’s Institute for a Secure Retirement (WISER) Forum.

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Jerrid Burdue


Dr. Emanuel Xavier-Oliveira Featured Across the Web

Dr. Emanuel Xavier-Oliveira (SBE) and other professors of economics from universities such as Purdue and Yale were asked by the financial web site WalletHub to comment on growth strategies that state economies can adopt in order to improve or return to full capacity. It was part of a WalletHub report just released on the states with the best and worst economies. News of the report has been picked up by Forbes and CBS News, among others.

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