It’s hard to turn on a TV these days without seeing a report on the crippling effects of the sputtering U.S. economy. For some U finance and economics students, there’s no escaping it.
The classroom has become the center of economic crisis discussion on campus, as several professors have deviated from their syllabi to use as a teaching tool what some call the collapse of the American financial system.
“All of my professors are telling us that this is the best time to study finance,” said Austin Ballard, a graduate student in finance. “For the most part the news is just blowing smoke…the economy is definitely in trouble, but we need to be careful in how we react. We can’t overreact.”
Finance and economics students face an uncertain and somewhat paradoxical future. A shrinking job market has narrowed employment opportunities, yet in-depth, academic analyses of what caused the crisis, coupled with researching policies that might curb the market’s descent, could make them more attractive to potential employers, Ballard said.
Economics professor Lance Girton said students in his classes have spent a considerable amount of time studying how the crisis could be fixed, but he said the most immediate remedy will likely come from a change in the White House administration, regardless of which candidate wins the election.
“This is a great opportunity8212;it’s a wonderful time to be an economist, but not a great time to have a mortgage,” said Girton, who discusses possible solutions to the crisis in his class. “The bailout is a crime against the tax-payers, and it probably won’t work.”
Finance professor Elizabeth Tashjian said the turbulent economy has made teaching exciting because daily fluctuations in the market often guide her lectures, causing her to make last-minute changes to her lesson plans. Tashjian said she first noticed warning signs of an ailing financial infrastructure during a class trip to New York City in August of 2007 and began implementing topical developments in her lectures.
“It’s been a rough year,” she said. “This situation is perfect for teaching because we always seem to remember the hard times…it’s easier for students to be engaged when what’s in the news relates to their classes.”
With an average of 450 students graduating from the U each year with bachelor’s degrees in finance and economics, Tashjian said the financial crisis might be the most talked-about issue on campus this fall.
Tyler CobbRobert Dubil, a Finance Professor at the U, deviates from his normal syllabus to use the current financial crisis as a teaching tool.