Penn State Economics Graduate Program ranked Number 3!

Excellent Outcomes at Pennsylvania State University – Main Campus for Students Earning Economics Degrees

Pennsylvania State University – Main Campus Is a 2019 Best for Vets Studying Economics Nationwide and in Pennsylvania

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2018-2019 Ph.D. Job Market Candidates

Click here for the 2018-2019 Ph.D. Job Market Candidates.

Dr. Russ Chuderewicz receives 2018-2019 Schreyer Honors College Excellence in Advising Award

Congratulations to Russ Chuderewicz (Chud), who has been selected as the recipient of the 2018-2019 recipient of the Schreyer Honors College Excellence in Advising Award. This award is presented annually to an honors advisor who has been nominated by a student or students for excellence in advising.

Department of Economics Welcomes New Faculty

The Department of Economics is pleased to announce the new faculty members for the 2018-2019 academic year.


Miaomiao Dong, Assistant Professor of Economics

Elisa Giannone, Assistant Professor of Economics

Benjamin Glass, Visiting Assistant Professor of Economics

Qi Li, Assistant Professor of Economics

William Walsh, Visiting Assistant Professor of Economics

Department of Economics Online Program nationally ranked #2!

Department of Economics Online Program nationally ranked #2!

The Department of Economics online program has been nationally ranked #2!

Professor Jonathan Eaton named winner of the 2018 Onassis Prize for International Trade

Five leading academics in finance, international trade and shipping named winners of Onassis Prizes 2018

Professor Douglas W. Diamond, one of the world's leading authorities on bank runs and liquidity crises, will be awarded the 2018 Onassis Prize in Finance. In the area of International Trade, Professors Jonathan Eaton and Samuel Kortum will share the relevant 2018 Onassis Prize for their collaborative efforts researching the impact of technology on global trade. The Shipping Prize will be shared between Professors Mary Brooks and Wayne Talley, maritime economists known for their work on ports and the risks of terrorism and piracy to the shipping industry.

Read the full Press Release issued Friday, April 20th. 

Mark Roberts named Liberal Arts Professor

Mark Roberts, Liberal Arts Professor of Economics. With over 40 papers in refereed journals and more than 15,000 citations to his work, Mark is a leading scholar in the field of industrial organization. He was a pioneer in the use of data from the Census of Manufactures to study the behavior of the firms and their pattern of exit and entry. This work has been influential in its own right, but it led to an explosion of work using this source of data. There are now 29 Census Data Research Centers, including one at PSU which Mark directs. Mark’s research on the decision to export has been influential both the industrial organization and the trade literature, with one of his papers cited over 2,000 times. And his work on productivity measurement at the firm level and the role of R&D has also been very influential. Consequently, it is not surprising that he is a research associate of the NBER, has been a member of several NSF review panels, a member of the AEA Census Advisory Committee, and a member of research panels from both the National Research Council and the European Research Council. He received the Award for Distinction in the Social Sciences, Liberal Arts Society in 1990, and has supervised 29 PhD dissertations.

Russell Cooper named Distinguished Professor of Economics

Russell Cooper, Distinguished Professor of Economics. With over 60 publications in refereed journals and more than 11,000 citations to his work, Professor Cooper is among the most creative, influential, and productive researchers of his generation in the field of macroeconomics. In his early work on coordination failures and complementarities has had great impact (his paper with his student, Andrew John, has had over 1,800 citations) and has led to a large literature. This work influenced his subsequent work on non-convexities in capital adjustment. Here he showed, through structural estimation of models with non-convexities, that investment tends to be lumpy and bunched (over time), a very different view from the conventional model of quadratic adjustment costs that previously dominated the literature. This work was important in explaining many puzzles in dynamic macroeconomics. Professor Cooper has also done important work on monetary unions and the difficulties that arise when fiscal policy is set individually by members.  Recently, he has also studied the interaction of household finance and education decisions. Some of this research has utilized Chinese data sets to study how access to finance impacts such choices. He is a fellow of the Econometric Society and a Research Associate of the NBER.

Barry Ickes presented the key-note address at the 17th Annual Aleksanteri Conference.

Barry Ickes presented the key-note address at the 17th Annual Aleksanteri Conference

 Click here to watch the key-note address.

Congratulations to the 2017 Economics PhD Graduates!


Pictured from left to right: Wang Xiang, Pathikrit Basu, Xiaolu Zhou & Oleksii Khvastunov.

Missing from photo: Hiroki Fukai, Bulat Gafarov, Chaohai Shen and Shigeki Isogai.

Welcome New Assistant Professors for Fall 2017

The Department is pleased to announce three new faculty members for the upcoming academic year!

Assistant Professor of Economics, Jinting Fan

Assistant Professor of Economics, Rishabh Kirpalani

Assistant Professor of Economics, Karl Schurter

New MA in Economics Program

The MA Program in Economics at Penn State

Penn State now offers a two-year program designated only for the M.A. degree in economics. The program provides rigorous training in econometrics and quantitative economics as well as in economic theory. It is ideal for those who pursue high level professional careers in industry and government, or further study for the Ph.D. degree.

More details at


Jonathan Eaton - Elected as a Fellow of the American Academy of Arts & Sciences

Congratulations to Jonathan Eaton, who has been elected as a Fellow of the American Academy of Arts and Sciences. This is a deserved, but very fine honor. 

April 2017 Newly Elected Members

Vijay Krishna - 2017 Graduate Program Chair Leadership Award

Vijay Krishna, professor of economics in the College of the Liberal Arts, is the 2017 recipient of the Graduate School Alumni Society Graduate Program Chair Leadership Award.

Read the full article here.

Katie Coll - 2017 Filippelli Institute Award for Excellence in Online Teaching

Katherine Coll, Economics Lecturer, has been selected as the recipient of the 2017 Filippelli Institute Award for Excellence in Online Teaching.


Information about the award can be found here.


Mark McLeod - 2017 Outstanding Teaching Award for Non-Tenure Line Faculty for Liberal Arts

Mark McLeod, Senior Lecturer in Economics, has been selected as the recipient of the 2017 Outstanding Teaching Award for Non-Tenure Line Faculty for Liberal Arts.  This is the second time Mark has won the award. 

Information about the award can be found on this page (

The Teaching Economist

For more than a quarter century, The Teaching Economist has presented strategies about teaching and learning from the cognitive sciences. Austin Boyle and William L. Goffe, both of Penn State, tried to uncover the effect of many of these strategies, such as retrieving, spacing, elaborating, generating, and interleaving, on two large macroeconomic principles classes taught by Professor Goffe. These “research-based teaching methods” are too numerous to detail here, but here are some examples of what he tried to do in the course: get nearly all students to read the material before class; connect new ideas with material already covered; interleave topics on five written homework assignments; lead with an example before introducing the abstract idea behind it; ask about five clicker questions per class period that stressed understanding rather than computations; use clicker questions, class discussion, seven quizzes, and the cumulative final exam to space retrieval of key concepts throughout the term; structure PowerPoint slides so that words appear a line at a time and diagrams build in sequence as they are explained; and provide abundant feedback throughout the term, for example, by reviewing the reasoning behind each answer immediately after each quiz. The changes introduced seem ambitious, even exhausting, for an instructor, but he said he enjoyed seeing students learn more effectively. To assess the effect of all these strategies, the Test for Understanding Economics (TUCE) was given at the beginning and end of the semester. The authors argue that because this test was normed in 83 sections of macro principles courses at 53 institutions taught by instructors who volunteered for the norming process, instructors with at least an average interest in teaching, TUCE results should offer a reliable comparison. The 508 students in the course who took the TUCE averaged four more correct answers (out of 30 questions) than the norm and in so doing achieved 0.77 standard deviations more learning in the course. See “Beyond the Flipped Class: The Impact of Research-Based Teaching Methods in a Macroeconomics Principles Class,” (May 29, 2016), available at


Click here to read the full article.