Economic Summit 2016
Seeing Tomorrow: Insights About the Global, National and Regional Economy for 2016
Saint Xavier University's Graham School of Management hosted the 2nd Annual Economic Summit in partnership with Federal Reserve Bank of Chicago on Friday, February 26 from 7:30 to 9 a.m. in Metropolitan Club's East Room in the Willis Tower (67th floor), 233 South Wacker Drive. A panel discussion, moderated by SXU's Dr. Monzurul Hoque, along with a Q&A immediately followed, and addressed the latest economic and financial events and policy changes in the U.S. markets.
The panelists also assessed how recent forecasts fit our expectations for economic trends and policy changes. Snapshots of the latest data and upcoming market events will be available. Three key areas were discussed: the U.S., Midwest and Chicagoland area.
However, uncertainties in international economies were discussed in terms of the impact on our daily lives as well as the real estate sectors and local economies. Panelists also shared critical issues of recovery after the "Great Recession" of 2008 and 2009 as well as the Fed's current policy stance and forecasts for the Euro/U.S. dollar exchange rate. The goal of the 2016 Economic Summit was to enable finance managers to strategize and take advantage of these trends in a changing global society.
Economic Summit Panel Members
William joined the Federal Reserve Bank of Chicago in 1982. He is responsible for analyzing the current performance of both the Midwest economy and the manufacturing sector for use in monetary policy. He produces the monthly Chicago Fed Midwest Manufacturing Index and organizes the Bank’s Economic and Automotive Outlook Symposiums. Strauss earned a B.A. in economics and geography from the State University of New York at Buffalo, and an M.A. in economics from Northwestern University. He currently teaches at DePaul University Kellstadt Graduate School of Business, and at the University of Chicago Graham School of Continuing Liberal and Professional Studies.
- Strauss presented the performance of the overall macro economy (i.e. performance, structure, behavior and decision-making of an economy as a whole) with specific attention paid to key economic sectors and indicators for the U.S. economy over the next couple of years.
Indranil Ghosh earned his Ph.D. and M.A. in economics from the Southern Methodist University in Dallas, Texas. Dr. Ghosh is currently working on three research papers: Referenda and the Provision of Public Goods (with Rajat Deb and Tae Kun Seo); Auction Mechanisms to allocate players - The Indian Premier League; and A Comparison of Online versus In Person Delivery of an MBA level Managerial Economics Class.
- Ghosh analyzed the growth and development of regional cluster formations in the Chicagoland area as well as the economic performance of industries that make up these clusters. Examples of regional cluster formations include information technology in Silicon Valley, light aircraft in Wichita, entertainment in Los Angeles and boat building in Maine. His presentation identified groups or agglomeration of closely related and complementary industries as well as the synergies that these clusters promote. Clusters can drive productivity and innovation.
Song Wang earned his Ph.D. from the University of Central Florida in finance and a M.S. in applied economics from Universitat Regensburg in Germany. Wang has produced numerous papers presented at national and regional conferences, including: Financial Management Association Conference, Midwest Financial Association, Eastern Financial Association Conference, and Academy of Finance. His articles have been in the following journals: Journal of Banking and Finance, Applied Financial Economic and Managerial Finance. He has also served as an anonymous reviewer for the following publications: Journal of Financial
- Wang examined the involvement of global activities of Illinois Companies (Chicago companies and non-Chicago companies) and compares them with the national level. His presentation investigated whether globalization promotes revenue and profit of companies and longevity, while controlling size and industry in the empirical testing.
Monzurul Hoque earned his Ph.D. from the University of Illinois in economics and a M.S. in finance from the University of Illinois, Urbana, Champaign. He serves on the University's executive leadership team, was a key member of its Association to Advance Collegiate Schools of Business (AACSB) accreditation team, and recently completed a four-year term as chair of the University's Assurance of Learning Committee. Hoque led the development of the GSM's Finance program and interdisciplinary collaboration with Computer Science and Mathematics Departments.
He created the University's Financial Trading and Practices Program in 1995, where he led the program for ten years. Through grants from CQG and CME Group, Hogue and his team created a Student Managed Hedge Fund. He has published more than 40 articles in reputed journals like Journal of Risk and Insurance, Managerial Finance, among others. He is the past president of the Academy of Finance and is the editor of Journal of Finance Issues.