Global Economic Forum
A Two-Day Conference for High School Educators
San Antonio
June 28–29, 2010

The global economy is still experiencing the aftershocks of the financial meltdown. Even though the worst appears to be over, questions still abound.  Can we accurately identify the forces that led to this unprecedented global economic slump? How can we prevent such a meltdown happening again without stifling innovation?  What are the most important lessons that can be learned?

The Global Economic Forum, a two-day conference, addressed the state of the current global economy. Participants examined globalization-related issues and classroom resources that can be used in helping secondary students understand the ramifications of the interconnectedness of our world.

One of the forum’s highlights was a videoconferencing collaboration among the Boston, Cleveland and Dallas Feds. Breakout sessions provided opportunities to learn how to apply conference content within the classroom.

Agenda

Monday, June 28

8:30 a.m.		Continental Breakfast
8:55 a.m.		Welcome Tara Ford Payne Public Affairs Manager Federal Reserve Bank of Dallas, San Antonio Branch
9 a.m.		The Unprecedented Global Economic Slump Agustín del Río Economist and Head of the Regional Delegation Banco de México, Monterrey Branch
10 a.m.		Everyday Economics: Three Faces of Globalization Princeton Williams Senior Economic Education Specialist Federal Reserve Bank of Dallas
11 a.m.		Break
11:15 a.m.		Economics of Migration: Immigration and Emigration Tim Shaunty Former President Texas Council on Economic Education
12:15 p.m.		Lunch and Address
		The Role of the North American Development Bank in the U.S.–Mexico Border Region Jorge Garcés Managing Director and Chief Executive Officer North American Development Bank
1:15 p.m.		The Yield Curve—Growing International Evidence of Its Predictive Powers Keith Phillips Senior Economist and Policy Advisor Federal Reserve Bank of Dallas, San Antonio Branch
2:15 p.m.		Break
2:30 p.m.		Helping Students Understand the Aftermath of the Financial Crisis Anne Macy Gene Edwards Professor of Finance West Texas A&M University
4:15 p.m.		Adjourn (reception to follow)

Tuesday, June 29

About the Speakers

Daniel Cooper
Economist Federal Reserve Bank of Boston
Boston, MA
Cooper is an economist in the macroeconomic/financial markets section of the Research Department at the Federal Reserve Bank of Boston. Previously, he worked as a dissertation intern at the Federal Reserve Bank of San Francisco and as a research assistant at the Board of Governors of the Federal Reserve System. His main research interests relate to the housing market and consumer behavior. His current projects examine how falling house prices and changing consumer optimism affect household spending, as well as how changes in sales tax rates affect households’ intertemporal spending decisions. Cooper holds a B.A. in economics from Amherst College. He earned his M.A. and Ph.D. in economics from the University of Michigan.

Richard Cooper
Maurits C. Boas Professor of International Economics
Harvard University
Cambridge, MA
Cooper has served as Maurits C. Boas Professor of International Economics at Harvard University since 1981. He has been an assistant professor, Frank Altschul Professor of International Economics and provost at Yale University. Cooper has served in various government positions, including senior staff economist on the Council of Economic Advisers from 1961 to 1963, deputy assistant secretary of state for international monetary affairs in the Department of State between 1965 and 1966 and undersecretary of state for economic affairs from 1977 to 1981. Cooper was chairman of the Federal Reserve Bank of Boston between 1990 and 1992. He also served as chairman of the National Intelligence Council. Cooper graduated from Oberlin College and received a master’s degree in economics from the London School of Economics and Political Science. He received his Ph.D. from Harvard University.

Agustín del Río
Economist and Head of the Regional Delegation
Banco de México
Monterrey, México
Del Río is the head of the regional delegation for Banco de México’s Monterrey branch. In addition to his work for Mexico’s central bank, he alternates teaching part time at Tecnológico de Monterrey, the University of Monterrey and the School of Economics of the Universidad Autónoma of Nuevo León. He previously served as full-time professor at Tecnológico de Monterrey, economist in the Western Hemisphere department of the International Monetary Fund and chief economist of Vitro, a manufacturing conglomerate based in Monterrey. Del Río has a master’s degree in economics and a Ph.D. in econometrics and monetary theory and policy from the University of Missouri–Columbia.

John Duca
Vice President and Senior Policy
Advisor Federal Reserve Bank of Dallas
Dallas, TX
Duca coleads and conducts research in macroeconomics and finance for the Federal Reserve Bank of Dallas. He has been with the Bank since 1991. Duca has given numerous briefings on the economy to the Bank’s president and board of directors. He has published more than 60 articles on money, credit, wages and housing in scholarly journals and Dallas Fed publications. Much of his research analyzes how innovations have altered economic relationships relevant to the macroeconomy and monetary policy. From 1986 to 1991, Duca was a staff economist at the Federal Reserve Board, where he briefed former Chairmen Alan Greenspan and Paul Volcker and other Fed policymakers. Additionally, he was a part-time lecturer at the University of Maryland. He is currently a part-time lecturer at Southern Methodist University. Duca holds a B.A. from Yale University and a Ph.D. in economics from Princeton University.

Jorge C. Garcés
Managing Director and Chief Executive Officer
North American Development Bank
San Antonio, TX
Garcés joined NADB in 2001. With more than 30 years experience dealing with Texas–Mexico concerns, he has served in the administrations of four Texas governors as the staff authority on Texas–Mexico relations and border issues. He was the Mexico and border affairs manager for the office of the Texas secretary of state, dealing with environment, infrastructure, trade, transportation, immigration and health matters. Garcés holds a B.A. and an M.A. in Latin American studies from the University of Texas at Austin and a Master of Public Affairs degree from the LBJ School of Public Affairs at UT.

Owen Humpage
Senior Economic Advisor
Federal Reserve Bank of Cleveland
Cleveland, OH
Humpage is a senior economic advisor specializing in international economics in the Research Department of the Federal Reserve Bank of Cleveland. His recent research has focused on central bank interventions in exchange markets, dollarization in Latin America and the sustainability of current account deficits. Humpage joined the Bank as an economic analyst in 1973. He was promoted to economist in 1978 and to his present position in 1987. He has lectured on economics at Case Western Reserve University, Oberlin College, Cleveland State University and Baldwin-Wallace College. Humpage received a bachelor’s degree in economics from the University of Dayton, a master’s degree in economics from Miami University and a doctorate in economics from Case Western.

Anne Macy
 Gene Edwards Professor of Finance
West Texas A&M University
Canyon, TX
Macy teaches finance and investment courses at West Texas A&M and frequently speaks at financial and economic education seminars. She is widely published in periodicals such as the Journal of Economics and Economic Education Research, Southwestern Economic Review and Journal of Entrepreneurship Education. Macy is the recipient of numerous distinguished research and outstanding professor awards. She serves on the editorial review board of the Institute of Finance Case Research and the Academy for Economics and Economic Education. She is the incoming editor of Southwestern Economic Review and an active member of the Texas Council on Economic Education. Macy holds a bachelor’s degree in economics from the University of South Dakota and master’s and doctoral degrees in economics from Texas Tech University.

Keith Phillips
Senior Economist and Policy Advisor
Federal Reserve Bank of Dallas, San Antonio Branch
San Antonio, TX
Phillips joined the Federal Reserve Bank of Dallas in 1984. His areas of concentration include regional economics and economic forecasting. Phillips developed business-cycle indexes for Texas and its major metro areas, which he uses to analyze business conditions in those regions. In August 1996, Phillips transferred to the San Antonio Branch to improve the regional economic coverage of the Dallas office and to better serve the needs of the South Texas community. He is a contributing member of the Western Blue Chip Economic Forecasting Group, where he has been the most accurate Texas forecaster for eight of the past 13 years. He teaches courses in econometrics and forecasting at Trinity, Incarnate Word and St. Mary’s universities. He also teaches courses in managerial economics in the executive M.B.A. program at the University of Texas at San Antonio. Phillips holds a B.A. and M.A. in economics and a bachelor of journalism degree from the University of Missouri at Columbia. He earned his Ph.D. in economics from Southern Methodist University.

Ananth Ramanarayanan
Economist
Federal Reserve Bank of Dallas
Dallas, TX
Ramanarayanan joined the Federal Reserve Bank of Dallas in 2007. His research interests are in the fields of international trade and macroeconomics. His recent work is on dynamic models of international trade and sovereign debt in emerging-market economies. Ramanarayanan received an A.B. in economics from the University of Chicago in 2002 and a Ph.D. in economics from the University of Minnesota in 2007.

Tim Shaunty
Former President
Texas Council on Economic Education
Houston, TX
Shaunty served as president of the Texas Council on Economic Education from 2001 to 2009. During a 30-year career in higher education, he held a variety of positions, including research economist and director of governmental relations. He then taught government and economics in the public school system before becoming director of the Center for Economic Education at the University of Houston–Clear Lake. Shaunty has earned multiple degrees in agricultural economics, sociology, business administration and architecture.

Princeton Williams
Senior Economic Education Specialist
Federal Reserve Bank of Dallas Dallas, TX
Williams joined the Federal Reserve Bank of Dallas as senior economic education specialist in 2006. Before coming to the Bank, he taught economics, advanced-placement macroeconomics and AP microeconomics at Paschal High School in Fort Worth. Selected as lead teacher for AP economics for the Fort Worth Independent School District, Williams coauthored the district’s economics curriculum, mentored new economics teachers and conducted citywide review sessions for AP students. Williams interned in the economic and market analysis division of the U.S. Department of Housing and Urban Development during his graduate studies. He is an adjunct instructor of economics at the Dallas–Fort Worth campus of Concordia University of Texas. Williams received a B.B.A. from Southern Methodist University and an M.A. in economics from the University of Texas at Arlington.