Economics Department

In the News

Outstanding Major Award in Economics AY 2019-2020

Kevin Lannoch
KevinLannochKevin Lannoch was named outstanding major for the 2019-2020 academic year, after having also received the Richard Schier Endowed Scholarship for the current academic year and the Janus Scholarship in 2018. A 2016 graduate of Normandy High School in Parma, Kevin has interned at Lincoln Electric with one of their sales teams since May 2019 assisting with marketing literature, sales projections, quoting, creating sales tools, and other various projects. Upon graduation he will become a Technical Sales Trainee, a position that will involve hands on training with welding, learning the entirety of the Lincoln product line, and increased customer interaction. Of his time at CSU, Kevin says “Cleveland State has been truly a rewarding experience. Every year I discovered a new and exciting aspect of being on campus. Even as a commuter, Cleveland State had the feeling of community. In terms of academics, the Economic department provided us with the tools and knowledge for real-world application. The professors were personable and friendly but always challenged us to expand our understanding. I thoroughly appreciated the electives and thought they added great value to my education. I am thankful for such an opportunity to meet great peers, colleagues, and teachers.”

Recent Faculty Activities

Faculty Achievements

Congratulations to the department faculty who received rank promotions in 2019. Dr. Vasilios (Bill) Kosteas was promoted to the rank of Professor while Dr. Phuong Ngo was promoted to the rank of Associate Professor with tenure in August 2019. Dr. Ngo's research accomplishments have also garnered him last year's CLASS Excellence in Scholarship award. Well done Dr. Ngo!

Research Grants and Awards

Several faculty members in the department received internal funding from the Office of Research to support their scholarship during the latest round of awards announced in the spring of 2020.

Professor Myong-hun Chang received a Faculty Scholarship Initiative (FSI) award to assist with travel costs related to his project “Learning to Vaccinate, Endogenous Vaccination and the Dynamics of Infectious Diseases.”

Professor Vasilios (Bill) Kosteas also received an FSI award to hire a research assistant and provide incentives for survey participants for his project “Student Debt, Salary Expectations, and Career Choices.” Finally,

Professor Maksim Isakin received an Undergraduate Summer Research Award (USRA) to provide support for an undergraduate student to who will work with him on a project titled “Sentiment and Business Cycle.”

Conference and Seminar Presentations

Professor Maksim Isakin presented his paper “Inflation Volatility with Regime Switching,” (co-authored with Phuong Ngo) at the 2019 North American Summer Meeting of the Econometric Society and the 2018 Northeast Ohio Economics Workshop.

Professor Maksim Isakin presented his paper “Credit Ratings, Credit Crunches, and the Pricing of Collateralized Debt Obligations” at the 2019 Midwest Finance Meetings and in Kent State University’s Firestone Lecture Series in 2017.

Professor Phuong Ngo also had his paper “Inflation Volatility with Regime Switching,” (co-authored with Maksim Isakin) the 2019 North American Summer Meeting of the Econometric Society.

Professor Phuong Ngo presented his paper “Variance Decomposition Analysis for Nonlinear DSGE Models: An Application with ZLB,” (co-authored with Maksim Isakin) at the 2019 Society for Nonlinear Dynamics and Econometrics and the 2018 North American Summer Meeting of the Econometric Society.

Professor Kuzey Yilmaz presented his paper “Two worker Households, Decentralized Employment, and Residential Segregation” at the 2019 Midwest Economic Theory and International Trade Conference.

Professor Phuong Ngo presented his paper “Stock Price Fluctuations and Productivity Growth;” (co-authored with Diego Comin, Mark Gertler, and Anna Maria Santacreu) at the 2018 Society for Economic Dynamics (SED) Annual Meetings, the 2018 Northeast Ohio Economics Workshop, and the 2017 Midwest Macroeconomic Meetings.

Professor Kuzey Yilmaz presented his paper “Two worker Households, Decentralized Employment, and Residential Segregation” at the 2018 Northeast Ohio Economist Workshop hosted jointly by the Federal Reserve Bank of Cleveland and Cleveland State University Economics Department.

Professor Maksim Isakin presented his paper “Banking Technology in a Markov Switching Economy,” (co-authored with with Apostolos Serletis),  at the 2017 Midwest Economics Association meetings and the 2017 Society for Economic Measurement meetings.

Professor Vasilios (Bill) Kosteas presented his paper “Determinants of Post-Displacement Reemployment Outcomes and Occupation Changes” at the fall 2017 Association for Public Policy Analysis and Management meetings and the 2017 Midwest Economics Association Annual Meetings.
Professor Phuong Ngo presented his paper “Risk Premia at the ZLB: A Macroeconomic Interpretation,” (co-authored with Francois Gourio) at the 2017 Western Finance Association (WFA) Annual Meeting.

Professor Phuong Ngo presented his paper “Does Calvo Meet Rotemberg at the Zero Lower Bound?,” (co-authored with Jianjun Miao) at the 2017 Annual Meeting of the Society for Computational Economics.