The ECBU faculty continues to work hard at publishing research in academic journals, presenting their research at various conferences and attending workshops designed to improve their teaching, around the country and the world. Here is a sampling of their work from the past academic year:
Maj. Sam Allen
Major Allen mentored Cadet Rhys Williams in an undergraduate research project. The project continued into the fall semester. Cadet Williams began investigating the economics of MBAs in 2006 and he that found several of his questions remained unanswered by previous economic studies. Thus, he and Major Allen collaborated to explore the underlying economics of the market for MBA degrees. In conjunction with VMI's Summer Undergraduate Research Institute (SURI), Rhys formulated his questions, collected data and learned to use STATA (a statistical software package). Rhys continued his SURI project in the fall semester as an independent study. Rhys ultimately has achieved his goal of understanding what drives the demand for MBAs. He presented this work at a scholarly economics conference (Eastern Economics Association Annual meetings in Boston, Massachusetts), and will also present at VMI's Undergraduate Research Symposium in April and at the National Conferences on Undergraduate Research in Salisbury, Maryland.
Speaker for Dean’s Lecture Series
Major Allen arranged for Dr Greg Clark’s visit to VMI as part of the Dean’ Lecture Series. On Thursday, March 6, 2008 Greg Clark presented his ideas on the Pre-industrial Economy and the Evolution of Modern Preferences. Dr. Clark is professor of economics at the University of California – Davis where teaches economic history. His research focuses on long run economic growth and the wealth of nations. Dr. Clark earned degrees from King’s College, Cambridge, and Harvard. He is also the author of “A Farewell to Alms” A Brief Economic History of the World. The event, held in Moody Hall, was open to the public.
- “Demand for MBA degrees”, with cadet Rhys Williams at the Eastern Economics Association, Boston (Attended), spring 2008.
- “Major Matters: Is Choice of College Major a forward looking Investment?” Hawaii International Conference on Business, May 2007.
Maj. Elizabeth Baker
- White-Baker, E., Al-Gahtani, S., and Hubona, G. "The Effects of Gender and Age on New Technology Implementation in a Developing Country: Testing the Theory of Planned Behavior (TPB)." - Information Technology and People, Vol. 20, Issue 4, pp. 352-375 (2007).
- Baker, E. “Responding to Critical Infrastructure Threats of Reliability and Security: Economic, Organizational and Technical Perspectives for a Next Generation US Electric Grid.”, forthcoming, Journal of Information Privacy and Security (2008).
- Thatcher, J., Baker, E., McKnight, H. “The Role of Trust in Post-Adoption IT Exploration.” – revise and resubmit, IEEE Transactions on Technology Engineering Management.
- “Implementation and Instantiations of a Relational Model Base”, Annual Meeting of the Decision Sciences Institute (DSI), Phoenix, AZ, November 2007.
- Program chair for the Southern Association of Information Systems conference, Richmond, VA, in March 2008.
- Conducted workshop on “The Grade book in Blackboard”, fall 2007.
Under the mentor ship of Major Baker, a team of cadets lead by 3 EBCU majors were invited to present their Engineering Entrepreneurship project at the National Collegiate Inventors and Innovators Alliance annual meeting in Dallas, TX March 20-22, 2008 (aka March Madness of the Minds. The ELF-SD (short for the Extremely-Low Frequency Seismic Detector) project team was invited to participate in the March Madness of the Minds Exhibition as one of 16 E-Teams selected out of hundreds applying for the spot. These project teams are called E-Tams for excellence and entrepreneurship. Currently, the VMI Foundation is sponsoring the patent process for the ELF-SD to further the commercialization efforts on the project.
Maj. Jim Bang
- “Determinants of the method of sale in privatization”, Economic Systems, Nov 2007.
- “An Incomplete-Information Model of Immigrant Self-Selection”, Virginia Social Science Association and Western Economic Association, 2008.
“Foreign Educational Attainment, Moving Costs, and the Education of Immigrants”, Southern Economic Association and VMI Roberts Series, 2007 (with Aniruddha Mitra, University of Illinois). (Currently under submission & review.)
Lt. Col. Atin Basuchoudhary
- “Ethnicity and Terrorism,” (with Bill Shughart). Expert Commentary accepted for appearance in edited volume "Terrorism Issues: Threat Assessment, Consequences and Prevention."
- Book Review: Contract Theory, by Bolton, P. and Dewatripont, M. MIT Press: Cambridge and London. 2005, in Managerial and Decision Economics v28 (1) 2007.
- “Does the National Purchasing Manager’s Index Predict the Ex-Ante Real Interest Rate? - A Short Note,” with Tinni Sen. Revise and Resubmit, Economics Letters.
- “Reducing the Impact of Ethnic Tensions on Economic Growth – Economic or Political Institutions?”, with Michael Reksulak and Geoffrey Parker, International Atlantic Economic Society Meetings in Savannah, 2007
- “Checks and Balances at the OK Corral: Restraining Leviathan.”, with Michael Reksulak and Bill Shughart, US and European Public Choice Society Meetings in San Antonio, TX and Jena, Germany respectively, 2008.
Lt. Col. Basu was interviewed on “With Good Reason” – a radio show that is broadcast by NPR within Virginia. The interview was based on a paper written by LTC Basu and William F. Shughart II that suggests that ethnic tensions only seem to be correlated with terrorist attacks. A little digging reveals that ethnic tensions may proxy the true underlying cause of terrorism – the lack of economic opportunity (as opposed to existing average wealth levels). The show aired in January.
Faculty Advisor ODE – Honor Society in Economics
This year ODE continued to sponsor a journal that showcased cadet writing. In addition ODE has started a speaker series. For the 2007-2008 academic year, Professor Dann Arce (UT- Dallas) was invited to give a talk on the economics of Honor Codes. An in-house discussion group is being planned. Interested cadets will be able to exchange views on social, economic, and political issues using economic methodology.
Col. Francis Bush
- “Blackboard and VMI: Where We Are Now”, The College Teaching Methods and Styles Journal, 2008.
- “Results from a Multi-Center Investigation of the Effect of Network Latency on Pedagogic Efficacy,” with Squire, Walsh, Sullivan, and English, Computers in Education Journal, 2008.
- “Using the Major Field Test-Business as an Assessment Tool and Impetus for Program Improvement,” with Floyd Duncan, Ed Sexton, and Cliff West, Journal of College Teaching and Learning, 2008.
- “Blackboard and VMI: Where We Are Now” presented at:
a. The 2007 TLC Conference. San Juan, Puerto Rico. 2008.
b. The 2007 TLC Conference. Las Vegas, Nevada. 2007.
c. The 2007 ASEE Annual Conference and Exposition. Las Vegas, Nevada. 2007.
- “Capital Budgeting: To or Not To,” Roberts/Chamber of Commerce Speakers Series, 2008.
- “Management Themes,” Environment Virginia 2007.
- “An Investigation of the Effect of Network Latency on Pedagogic Efficacy: A Comparison of Disciplines.” The 2007 TLC Conference. San Juan, Puerto Rico. 2008.
- “Teaching Ethics to Undergraduates: An Empirical Examination of Multiple Approaches.” Societyfor Advancement of Management 2008 International Business Conference. Arlington, VA. 2008.
- “Capital Budgeting: To or Not To,” Roberts/Chamber of Commerce Speakers Series, 2008.“Management Themes,” Environment Virginia 2007.
Lt. Col. Barry Cobb
- "Influence diagrams with continuous decision variables and non-Gaussian uncertainties," Decision Analysis, Vol. 4, No. 3, 2007, 136—155.
- "Real options valuation," in S.G. Henderson et al. (eds.), Proceedings of the 2007 Winter Simulation Conference, 2007, in press, with J.M. Charnes.
- “Influence diagrams for capacity planning and pricing under uncertainty,” Institute for Operations Research and the Management Sciences (INFORMS) Annual Conference, Seattle, Washington, November 2007.
- Session organizer for Institute for Operations Research and the Management Sciences (INFORMS) Annual Conference, Seattle, Washington, November 2007.
- Cadet Alex Menas worked with Lt. Col. Barry Cobb to develop a minimum variance portfolio model for the TIAA-CREF optional retirement plan available to VMI employees. The portfolio is developed based on investor goals then reallocated annually to consider fund performance and updated investor objectives. Simulation is used to analyze risk associated with meeting the investor’s targeted performance. The minimum variance approach outperformed three portfolios suggested by TIAA-CREFF over the period from 2001-2007. This resulted in two presentations:
- Cadet Menas will present his research at the National Conference for Undergraduate Research (NCUR) in Salisbury, Maryland in April.
Lt. Col. Cobb presented this research at a brown bag luncheon attended by faculty, staff, and cadets.
Col. Karen Gutermuth
- 2007 AACSB International Continuous Improvement Conference, 16-18 September 2007, St. Louis, MO.
Col. Stewart Husted
- “Developing Leaders of Character: The Case for Military Higher Education,” with West, Cliff, The Journal of Practical Leadership, Spring 2008.
- George C. Marshall: Rubrics of Leadership was selected as the VMI graduation gift for cadets not choosing to receive a Bible.
- Received the feature review from the Naval War College Review for George C. Marshall: Rubrics of Leadership (published by Army War College, 2007).
- “George C. Marshall: Rubrics of Leadership,” Kiwanis Club, Lexington, VA, October 30, 2007.
- “Guerilla Marketing: How to Compete with the Big Guys,” Lexington-Rockbridge Chamber of Commerce, January 14, 2008.
- “George C. Marshall: A Marshall Plan for Prospective Leaders,” VMI Army ROTC Luncheon, February 25, 2008.
- “Preparing Leaders: An Innovative Approach,” Society for the Advancement of Management (SAM), Washington, DC, April 2, 2008.
Col. Husted was interviewed on “With Good Reason” – a radio show that is broadcast by NPR within Virginia. The topic was “Walking the Tight Rope: Democracies and Terrorism” (viewed from George Marshall’s likely perspective and leadership roles).
Maj. Raymond MacDermott
- “Linking Exchange Rates to Foreign Direct Investment”, TheInternational Trade Journal, Vol. 22, No. 1, 3-16.
- " Environmental Regulations and the Flow of Foreign Direct Investment: A Review of the Pollution Haven Hypothesis" forthcoming in Foreign Direct Investment.
- “Grade Dropping in Intermediate Macroeconomics”, New York State Economics Association, October 2007.
- “A Panel Study of Foreign Direct Investment and Trade”, Western Economics Association, June 2007.
Col. Robert Moreschi
- 2007 AACSB International Continuous Improvement Conference, 16-18 September 2007, St. Louis, MO.
- “How to Finance Your Small Business during Challenging Economics Times.” Lexington-Rockbridge Chamber of Commerce, 11 October 2007.
- Discussant and session moderator at:
- Academy of Financial Services – October ’07.
- Academy of Economics and Finance – February ’08.
- “Corporate Sponsorship and Market Efficiency”, Academy of Financial Services, October 2007 and Academy of Economics and Finance. February 2008
Lt. Col. Tinni Sen
- “Does the National Purchasing Manager’s Index Predict the Ex-Ante Real Interest Rate? - A Short Note,” with Atin Basu. Revise and Resubmit, Economics Letters. Fall 2007.
- “Asymmetric Business Cycles under Optimal Mixed State and Time Dependent Pricing Rules,” with John R. Conlon. Conditional Acceptance, the Berkeley Electronic Macroeconomic Journal.
- The Unreported Knowledge Economy,” Jonathan Fox. Summer Undergraduate Research Initiative award.
- AACSB International October 18-19, 2007 Teaching Effectiveness Seminar, Tampa, FL.
- Served as Judge for Undergraduate papers in the International Atlantic Economic Society conference, fall 2007.
Joint Faculty Activities
- Under the supervision of Maj. Elizabeth Baker and Col. Stewart Husted, 54 cadets enrolled in Col. Husted’s Principles of Marketing course are participating in a global Google Ad Word Campaign. Thirteen local businesses are matched with cadet teams. Using the Google donation of $200 per team, each teams is creating a three-week advertising campaign to draw traffic and business to each organization’s web site. We are competing internationally against approximately 20,000 students representing over 5,000 teams. Winners will be announced in June 2008.
- John and Jane Roberts/Chamber of Commerce Luncheon Lecture Series for 2007-2008: Col. Stewart Husted developed and organized this inaugural event. The series of four lectures/luncheons featured ECBU faculty: Col. Bob Moreschi, Col. Francis Bush, Col. Stewart Husted, and Maj. Elizabeth Baker. They spoke on a variety of business topics. Attendance was excellent and plans are underway for next year’s series.
- Goose Creek Leadership Reaction Course: Col. West, Col. Husted, and Maj. MacDermott continue to train Air Force ROTC cadets on the Goose Creek Leadership Reaction Course. In addition to VMI cadets, they have added the UVA AFROTC unit and Central Virginia JROTC units from the Air Force, Marines, and Army to their list of clients.