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News and Announcements

 

Nobel Prize winner Peter Howitt returns to Western

‘This is where I cut my teeth as an economist,’ says alum and past professor, Read the full article here.

 

Economics Department Professors Receive $950,000 in Research Grants

Professors from the Economics Department received 6 Insight Grants and 4 Insight Development Grants from the Social Science and Humanities Research Council of Canada to advance research in multiple areas of economics in the coming years. These grants amount to almost one million dollars in research funds over the next 5 years that will support the research mission at Western Economics.

We are proud of our faculty and their continuous dedication to conduct the highest quality research, and we are fortunate to count with the support of the SSHRC of Canada.

These Are the New Grant Holders:

Nail Kashaev: Models of peer effects and strategic interactions with limited consideration

 

Nirav Mehta: Structural estimation of the Grossman health capital framework: A quantitative lifecycle model of health investments, labor market outcomes, and consumer welfare

 

Todd Stinebrickner: Jobs and earnings of university graduates

 

Lisa Tarquinio:  Pathway to sustainable development? Evaluating a micro-watershed program

 

Sergio Ocampo Díaz (co-applicant): Wealth taxation in the 21st century

               

Daniel Chaves (co-applicant): Collusion and the misallocation of production

 

Rory McGee: Health-related work limitations and the interaction between disability insurance programs and workers’ Compensation

 

Sergio Ocampo Díaz: Effective tax progressivity and the accumulation of business wealth

 

Lisa Tarquinio: Beyond the drought: Persistent economic impacts

 

Michael Sullivan: The economics of platform competition and regulation

Welcome to Our New Faculty!

The Department of Economics welcomes Assistant Professor Katya Kazakova who recently obtained her PhD in Economics and Finance from the University of Wisconsin-Madison. Katya will be joining The Department of Economics in July 2025 and will be teaching Macroeconomics and Financial Economics courses in the Masters of Financial Economics this fall. Her expertise in Financial Economics will be invaluable in the classroom. Here is what she has to say:

"I find it exciting to teach and work at the intersection of macroeconomics and finance, as these two fields are increasingly interconnected. In my teaching, I focus on real-world problems, explore practical solutions, and highlight the links between financial markets and aggregate economic outcomes. I aim to meet students where they are, inspiring them to explore, ask questions, and collaborate both inside and outside the classroom. In my classroom, I encourage students to develop adaptable skills that can be applied in a rapidly changing financial environment."

Katya's research focuses on how firms deal with financial frictions when obtaining funding and making operational decisions. In her own words: "My research is at the intersection of macroeconomics, corporate finance, and international finance. In my recent research, I explore how financial disclosure policies affect firm dynamics in public and private markets in the presence of private information and choices to go public in the stock market."

Welcome Katya to Western!

Previous Years News and Announcements

Chon Kei Chen (Honors Double Major in Economics and Political Science), Adib Sedig (Honors Double Major in Finance and Economics),  Robin Kovacs (Honors Specialization in Politics, Philosophy and Economics – Economics concentration) and Orlando Scarlett (Honors Specialization in Economics). 

Economics Professor Emeritus David Laidler speaks on how quantitative tightening by the Bank of Canada is an indication of an approaching steep downturn in the economy. The article goes on to discuss the shrinking supply of money and the central bank's need to reflect on its polices. To read the full article, visit The Globe and Mail (paywall).

Congratulations are extended to Economics PhD candidate Emmanuel Murray Leclair! His job market paper "Balancing Production and Carbon Emissions with Fuel Substitution", was recently named the runner-up for the Bank of Canada Graduate Student Paper Award. For more information, see BoC Research Paper Awards.

Congratulations are extended to Lance Lochner and Tim Conley who were awarded the honorary title of Fellow of the International Association for Applied Econometrics (IAAE) in 2021. The Association focuses on the advancement of education in econometrics, with a goal of making econometrics research accessible to the public. For more information, see IAAE Fellows.

Congratulations are extended to Lance Lochner who has been awarded the honorary title of Fellow of the Society of Labor Economists (SOLE).  The Society recognizes labour economists who have made contributions of unusual distinction to the field. For more information, see SOLE Fellows.

Congratulations are extended to Economics undergraduate student and recent graduate, Elliot Grenier! His Economics 4400E undergraduate thesis “The Impact of International Environmental Agreements on U.S. Environmental Legislation” has been chosen as a CEA – Bank of Canada Undergraduate Student Paper Award. Grenier will virtually showcase his research at a poster session during the 56 th Annual Meeting of the Canadian Economics Association. For more information, see CEA – Boc Undergraduate Awards.

Economics Professor Emeritus David Laidler speaks on how quantitative tightening by the Bank of Canada is an indication of an approaching steep downturn in the economy. The article goes on to discuss the shrinking supply of money and the central bank's need to reflect on its polices. To read the full article, visit The Globe and Mail (paywall).

Economics Professor Emeritus David Laidler spoke on the mistake of attributing Canada's inflation rates to war in the Ukraine. The article discusses further the effect of the war on the economy, and other causes for the rise of inflation. To read the full article, visit The Toronto Star.

 Economics Ph.D. Candidate Wins Award

Economics Ph.D. candidate and lecturer, Phuong Vu, has received the 2021-2022 Western Centre for Research on Social Inequality Gradiate Academic Student Award. Congratulations, Phuong!

Economics Professor Emeritus David Laidler speaks on how quantitative tightening by the Bank of Canada is an indication of an approaching steep downturn in the economy. The article goes on to discuss the shrinking supply of money and the central bank's need to reflect on its polices. To read the full article, visit The Globe and Mail (paywall).

Economics Professor Emeritus David Laidler spoke on the mistake of attributing Canada's inflation rates to war in the Ukraine. The article discusses further the effect of the war on the economy, and other causes for the rise of inflation. To read the full article, visit   The Toronto Star. 

Economics Ph.D. candidate and lecturer, Phuong Vu, has received the 2021-2022 Western Centre for Research on Social Inequality Gradiate Academic Student Award. Congratulations, Phuong!

Economics Professor and  Stephen A. Jarislowsky Chair in Central Banking , Stephen Williamson,  was quoted in a BNN Bloomberg article regarding the banks position in enforcing the Emergencies Act. Williamson expresses concerns about how long the regulations will last. To read the full article, visit   BNN Bloomberg. 

Economics Professor Emeritus David Laidler, and Alumni Chidozie Okoye, were quoted in a CBC News article regarding inflation. The article discusses the disruption that inflation may inflict on future financial planning. To read the full article, visit CBC News. 

Economics Professor Emeritus, James Davies,  discusses the effects of income inequality during the COVID-19 pandemic. Davies demonstrates supporting statistics as well as his own study conducted at Western University.  To read the full article, visit The Conversation and The London Free Press

Economics alumnus and Bank of Canada Governer, Tiff Macklem,  discusses ways in which Western University  helped shape his career as a banker, advisor, policy-maker and educator. Macklem names Western Economics faculty as, " an enduring inspiration and influence." To read the full article, visit Western Alumni Gazette.

Economics Professor Emeritus David Laidler was a featured author in a Financial Post opinion piece. Laidler speaks on the Bank of Canada’s latest predicament in regards to the economy’s return to normalcy and its promised inflation range. To read Professor Laidler’s full article, visit Financial Post. 

Economics Professor Stephen Williamson was featured on CBC Live Radio to discuss the idea of a trillion dollar coin as a solution to the debt ceiling debate in the United States and why it is unlikely to happen. For the full interview, visit CBC News. 

The Department of Economics welcomes Assistant Professor Lisa Tarquinio. Tarquinio researches development economics, drawing in information and research related to climate change, political economy, and migration. To read more on Economics' latest member, visit Western Social Science News

Economics Alumna Earns Valedictorian

The Department of Economics would like to congratulate recent alumna, Talissa Aphia Watson (class of 2018-2019) on her academic success.  Upon completing her Masters of Science degree in Business Analytics at the Ivey Business School, she was named class valedictorian for the MSc class of 2021. To read more, visit Ivey News.

Congratulations to our gold medalists for 2020-2021: Michael Quan Chow (4-Year BA Specialization), Lauren Ruffo-Caracchini (Honors Double Major in Political Science and Financial Economics), Ye Rao (Honors Double Major in Accounting and Economics), Kyle Boutilier (Honors Specialization in Global Economics), and Aaron Leonard (Honors Specialization in Economics and the Chancellors Prize in an Honors BA from the Faculty of Social Sciences). 

Further congratulations are extended again to Aaron Leonard as he is this year’s recipient of Governor General’s Silver Medal! This honour is awarded to the undergraduate who achieves the highest academic standing upon graduation from a bachelor degree program throughout Western University. 

Congratulations are extended to Economics undergraduate students, Aaron Leonard, Kyle Boutilier, Nalinda Murray and Jackson Montelpare. The four students were selected to present at the esteemed Canadian Economic Association and Bank of Canada Undergraduate Student Awards. Leonard and Boutilier will present their 4400 undergraduate thesis, “The Impact of Mask Mandates on the Trade-Off Between GDP and COVID-19 Mortality” and Murray and Montelpare will present “The Direct and Indirect Effects of Cohabitation on Children's Human Capital Development”. For more information on the CEA - Bank of Canada Awards and our students, please visit the Canadian Economics Association.

Professor Emeritus, David Laidler was featured in a CBC News article for identifying the similarities between the U.S.’s current inflation and the unexpected 1960s rise in prices. Laidler witnessed, as an early expert, price rises consume the value of money, and now nearly 50 years later, discusses how history is repeating itself. The full article “Jump in U.S. inflation may signal that history is repeating itself” can be found at CBC News.

Congratulations are extended to this year’s teaching award recipients. Charles Zheng was voted Graduate Professor of the Year by the Economics graduate students. Iftekher Hossain was voted Undergraduate Professor of the Year by the Economics undergraduate students. Duhyeong Kim was voted the Graduate Teaching Assistant of the Year and Evan Sauve is the recipient of the Tutorial Leader of the Year award.

Professor Emeritus, Jim Davies was featured for a recent study regarding the importance of income inequality and the subsequent health impacts. Unlike other research during this time, Davies’ has shown that, across countries, income inequality — and not poverty — is associated with higher death rates in relation to COVID-19. To read more about the study published in the latest issue of CEPR COVID Economics, see the Western News.

Economics Assistant Professor, Rory McGee recently won the Netspar PhD Thesis prize for his technically impressive research into the saving behavior of the elderly. In the thesis, McGee studies the microeconomics of
household savings decisions and intergenerational transfers. The jury mentions the high degree of relevancy and the challenge of unravelling such a topic. The full article on McGee's thesis, "Essays on Saving and Intergenerational Transfers over the Life-Cycle" can be found at Netspar. To read more, including McGee's interview on winning the Netspar PhD Thesis prize, visit the Social Science News.

Economics Professor, Terry Sicular was featured in a Bloomberg article on December 23, 2020. The article discusses the Chinese Communist Party's new pledge to fix the "demand side" of the economy and the subsequent expections in leadership. Sicular provides insight on China's struggle to increase consumption and demand-led growth. The full article "China Looks at Cutting Inequality in Order to Boost the Economy" can be found at Bloomberg News.

Second-year Honors student Brett Gugel has been awarded numerous scholarships in 2020-2021 for his academic accomplishments.  He has won the Richard J. Kohn Scholarship, Harold Crabtree Foundation Awards in the Economics of Industrial Organization, and the Faculty Association Scholarship.  Congratulations to Brett for these outstanding achievements!

Assistant Professor Roy Allen was awarded the 2020 Polanyi Prize in Economic Science for his work in econometrics, specifically for work modelling a population’s future economic behaviour based on information from the past. The article on Allen’s major award can be found at Western News.

Congratulations to third year Western University Economics student Maximilian Pentland for publishing an article titled “Maximizing the impact of the Canada Child Benefit: Implications for clinicians and researchers” with Eyal Cohen, Astrid Guttmann, and Claire de Oliveira. Pentland's paper can be found in Paediatrics and Child Health, the official journal of the Canadian Paediatric Society

Congratulations to alumna Sherrie Cheng who submitted her Economics 3311F paper 'Innovation in China: Ownership, efficiency, and current innovation policy' to The Global Undergraduate Awards 2020 Programme.  Her paper was deemed a Highly Commended Entrant in the Economics category, therefore, judged as among the top 10% of entries submitted to that category out of 4,148 submissions.

Congratulations are extended to Economics undergraduate students, Sherrie Cheng and Jay Zhao-Murray on their 4400 undergraduate thesis, “Can Google Searches Predict Unemployment in Canada?”. Cheng and Zhao-Murray's paper was selected by the Canadian Economic Association and Bank of Canada to be presented at the Undergraduate Research Award seminar on June 1, 2020. 

Tiff Macklem (Western Economics Ph.D. 1989) has been named the new Bank of Canada Governor by Finance Minister Bill Morneau. Macklem, former Senior Deputy Governor and Chief Operating Officer at the Bank of Canada, was appointed dean of the Rotman School of Management at the University of Toronto in May 2014. Macklem has remained closely involved in nearly all of the Bank's major initiatives. He will replace Stephen Poloz (Western Economics M.A 1979, Ph.D. 1982), beginning June 3, 2020. Globe and Mail Announcement and Western News

 

Professor Bowlus’ prediction for Canada’s economic future during the COVID-19 pandemic is being higlighted by Western News. Bowlus estimates we will see a major increase in unemployment rates and the longer-term economic implications will worsen as the situation continues. The article, "Experts: Pandemic making economic future uncertain" can be found at Western News.

Congratulations are extended to this year’s teaching award recipients. Juan Carlos Hatchondo was voted Graduate Professor of the Year by the Economics graduate students. Peter Streufert was voted Undergraduate Professor of the Year by the Economics undergraduate students. Anastasiia Suvorova was voted the Graduate Teaching Assistant of the Year. Lucas Lalonde and Benjamin Sas Trakinsky are the recipients of the Tutorial Leader of the Year award.