As part of its mission, the University of Georgia "endeavors to prepare the university community and the state for full participation in the global society of the 21st century." The Department of Economics plays a vital role in this mission in two important ways. For students interested in business careers, economics is an essential foundation for business education. Similarly, when it's viewed in the broader sense of a liberal arts education, economics is a core discipline and an integral part of a well-rounded course of study.
We strive to promote high-quality research and scholarship, and to provide students with an excellent education in economics that gives them a conceptual framework for understanding the world, a set of skills for pursuing leadership in the world's private enterprise system, and a foundation for advanced study and research.
On October 8 the Terry College sponsored a panel discussion of the current financial crisis. The panelists — Professors Bill Lastrapes (Economics), Jim Kau (Real Estate) and Chris Stivers (Finance) — addressed a standing-room only crowd of over 400 gathered in SLC 101 to hear "what just happened". Or, as Lastrapes correctly put it, "what is going on".
What is going on, indeed. Invoking a baseball metaphor, the panel moderator, Chris Cornwell (Economics), made it clear we are only in the first inning of the crisis. By now it is probably fair to say that we have moved to the middle of the second. Even with the series of actions taken by the Treasury and Federal Reserve over the last several weeks, much uncertainty remains about the course the economy will take. One thing is certain Lastrapes said, "The question [about whether there will be a recession] is no longer if; the question is how long and how deep."
Listen to the podcast of the panel discussion.
Follow the financial crisis as it develops:
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