Kelley Business Economics & Public Policy

Department Chair Letter 2024

Posted on September 6, 2024 by milleabi

Jeff Prince, Harold A. Poling Chair in Strategic Management

Dear BEPP Community,

I am thrilled to write to you again as a kick-off to our eighth annual department newsletter!

The BEPP department consists of high-caliber economists working within a top business school. As such, our primary purpose is to bring the rigor and critical thinking inherent in economic modeling and econometric analysis to important business and policy questions and challenges. Recognizing our role, 3 the purpose of this newsletter is to highlight how BEPP faculty, students and alumni have served this purpose over the past year.

In what follows, you’ll find: an in-depth look at select faculty and recent 4 PhD graduates, spotlights of accomplished alumni, a detailed discussion of our new course on Energy Economics and Environmental Policy, BEPP club activities and engagements, BEPP program highlights, and summaries of key BEPP activities including involvement with the Jellison Living Learning Center.

Of course, there is much more to BEPP than what we can summarize in a 8 newsletter. So, if you haven’t already, please join the hundreds of BEPP friends who now follow us on Facebook (https://www.facebook.com/KelleyBEPP/), and if you’re a BEPP alum, please join our LinkedIn group (https:// www.linkedin.com/groups/4347267) to not only learn about the department but also stay connected with fellow BEPP grads.

I like to conclude these newsletters with a thought that highlights general BEPP skills within a current context. Unless you’ve been “off the grid,” you probably have heard about a string of lawsuits against prominent companies, 14 including Apple, Google, Meta, and Amazon. While the legal issues are obviously prominent, economic analysis typically plays a crucial role, requiring participation by economics experts. BEPP graduates are well equipped to perform exactly this type of analysis, and some go on to do exactly this type of 22 work at economic consulting firms. Importantly, BEPP skills are valuable well beyond just the realm of litigation; the critical thinking and analytical skills that help illuminate the key economic issues in a legal dispute also can be, and are, used to help firms make sound strategic decisions. They allow our students not 27 only to help their firm climb the proverbial mountain most efficiently but also astutely point out when the firm is climbing the wrong mountain. At a time of such dynamism across so many industries, where the possibility of climbing the wrong mountain is a very real concern, it’s no wonder why graduates with these capabilities are in high demand.

Please enjoy this eighth installment of our newsletter, and as friends of BEPP, please don’t hesitate to stay in touch and stop by any time you’re back in B-town – we’d love to see you!

Sincerely,

Jeff Prince, Harold A. Poling Chair in Strategic Management

Faculty Spotlight: Phil Powell Clinical Associate Professor of Business Economics and Public Policy

Posted on September 6, 2024 by milleabi

A native of Nashville, Tennessee, and an Appalachian boy at heart, Philip Powell is a seventh-generation Tennessean who accidentally stumbled into a career in academia, and is so glad he did. While attending the University of South Carolina, he was an exchange student in Economics & Political Science in the Fiji Islands at the University of the South Pacific. After leaving the South Pacific, he went to Vanderbilt University where he wrote a dissertation about economic development and environmental policy in the Pacific Island economies.

Clinical Associate Professor Phil Powell

He married his wife, Sydney, in 1995. The following year, he was thrilled when Indiana University hired him. He started off working at Kelley’s School of Business’ Indianapolis campus teaching MBA students. During his first few years at IU, he also developed a new research interest in healthcare.

After becoming a Clinical Professor of Business Economics, he focused the majority of his time on teaching and administration. He became Faculty Director of the Health Care Academy for the full-time MBA program in Bloomington, leveraging the research he started in healthcare. In 2006, he became faculty chair of the part-time MBA program in Indianapolis. In 2009, he returned to Bloomington and became the faculty chair of the full-time MBA program.

“We took the program up in the rankings,” says Powell. “In fact, we were able to achieve a number one ranking in student satisfaction, teaching quality, and career outcomes in 2012.”

For four years, Powell ran Kelley Direct, the online MBA program. During that time, they increased their annual intake of students by 50%. The program was ranked number one in the country.

In 2016, Powell returned to Indianapolis to become Associate Dean of Academic Programs where he managed all the academic programs on the Indy campus. He was in charge of revenue creation, enrollment, marketing, development, and career services. He returned to Bloomington in 2022 and is now the Executive Director of the Indiana Business Research Center.

Professor Powell Teaching

Through the years, he’s had a host of fond memories as it relates to his career, but one of his favorites was when the MBA program launched the International Consulting Program. They took students to other countries such as Botswana, Burma, Peru, Guatemala, Fiji, and Greece so that they could consult with small businesses in emerging markets to help them thrive.

Powell recalls the first time they took five teams of MBA students to an extremely poor area of Lima, Peru, where they met with the owner of a jewelry manufacturer who made jewelry by hand from his house. At their first meeting, the owner told the students that he had saved $15K US dollars.

“I’m going to do exactly what you tell me to do with the money,” he said.

Powell watched the eyes of the students grow wide as it hit them that this man trusted them with his life savings. Failure was not an option because if they gave him bad advice, it would ruin his family financially.

“I watched the students generate good solutions for this jewelry manufacturer,” says Powell. “To me, that captures the type of transformation we want our students to achieve. That kind of learning was a living example of what the Kelley School is all about, and I’ve been able to see that moment repeat itself over and over again.”

Powell and his wife, Sydney, have two grown children, Savannah and Sawyer. A huge college sports fan, Powell roots for the Hoosiers and the South Carolina Gamecocks. Although he may play a round of golf every now and then, his biggest passion is working at Kelley.

“I love it so much it’s hard to distinguish between work, play, and purpose,” he says

Faculty Spotlight: Ralph Boleslavsky Associate Professor of Business Economics and Public Policy

Posted on September 6, 2024 by milleabi

After earning his PhD at Duke in 2009, Ralph Boleslavsky became an Assistant Professor at the University of Miami Herbert Business School in Coral Gables, Florida. In 2016, he was promoted to Associate Professor and continued at Miami Herbert until he joined the IU faculty in July 2022. He lives in Indianapolis with his wife, Kristin (who is also a professor on the Indy campus) and their daughter, Selia.

After Boleslavsky’s first in-person lecture at IU, a significant fraction of the students stayed after class to introduce themselves.

“It was a great way to start off the semester and my time at IU,” says Boleslavsky, whose research uses game theory and information economics to study a wide variety of strategic interactions.

“One of the beautiful things about game theory is that it can be applied to study so many interesting real-world issues,” he says. “Its applicability is limited only by the creativity of the researcher.”

Boleslavsky’s papers cover a wide breadth of topics, including grade inflation and school competition, intervention and information in financial markets, political extremism, the informational role of protest, fraud, and manipulation of investigations.

The poet Khalil Gibrain wrote, “You are the bows from which your children as living arrows are sent forth.”

Boleslavsky maintains that research is similar.

“We struggle to produce the most compelling findings that we can before releasing them, but once we put our work out into the world, we have no control over how it’s received,” he says.

Boleslavsky is grateful for IU’s students, who provide him with the opportunity to share his interests and knowledge of economics and game theory. He also appreciates IU’s faculty and staff.

“My colleagues in BEPP are brilliant, hard-working, and generous with their time, energy, & ideas. They’re incredibly helpful and supportive,” says Boleslavsky. They also have a sense of humor. Boleslavsky recalls a funny incident that happened when he attended a conference. After his paper was presented, someone pointed out that Boleslavsky’s name was misspelled. He realized that he had misspelled his name on his own paper.

“This paper had been around for several years, and my coauthor and I had looked at the title page thousands of times,” says Boleslavsky. After sharing this story with his colleagues, they created a misspelled name plate for his office.

“It took me a few weeks to notice!” he says with a chuckle.

Boleslavsky was also once the star of a meme that circulated in which he wore a funny t-shirt that baffled students. It read, “There are two types of people in the world: 1) Those who can extrapolate from incomplete data.” Then the meme stated, “Two of my classmates just asked our professor if his shirt is missing a second part.”

Aside from being part of a funny meme, Boleslavsky enjoys fitness (mainly weightlifting), reading, and watching Sci Fi. He also loves to travel (particularly to Paris), eat out (Tinker Street and Bodhi are Indy favorites), cook with his wife, and play the Switch with his daughter.

New Faculty: Kelly Yang

Posted on September 6, 2024 by milleabi

Assistant Professor Kelly Yang

Kelly Kaili Yang is happy to join the BEPP faculty as an Assistant Professor.

Born and raised in Beijing, Yang received her undergrad degree from Hong Kong University of Science and Technology in Hong Kong (BSc. in Mathematics and Economics). Following graduation, she came to the U.S. to attend graduate school at Duke University. As a teaching assistant, she taught MBA and master level courses at Fuqua School of Business and in the Economics Department at Duke. These courses were in health care markets, managerial economics, and applied econometrics.

Yang’s research fields include industrial organization, health economics and international trade. Her research has centered around technology adoption and how it affects many aspects of the economy and people’s lives.

“My dissertation focuses on healthcare providers’ adoption of new treatment technologies with dynamic scale economies, and studies the optimal adoption regulation by examining the trade-off between concentrating medical care in high quality providers and promoting patient choice and access to healthcare,” says Yang, who has been published in the Journal of Political Economy, Harvard Business Review, JAMA Network Open, and Health Affairs.

The paper in the Journal of Political Economy focuses on how technology adoption or quality upgrading is complementary among manufacturing firms through the production network.

Her other health policy papers focus on the consequences of recent private equity acquisition of US hospitals including impact of ownership structure changes on service offerings, adoption of profitable technologies, and patient outcomes for common medical and surgical conditions.

At IU, Yang will teach G-492 Predictive Analytics for Business Strategy for undergraduates in which students learn to use predictive analytics to measure the causal effects of business strategies and gain hands-on experience with both economic models and data analysis. She’ll also teach G-652 Econometric Methods in Business II for PhD students. This course introduces structural econometric models and the associated estimation methods that are central to empirical industrial organization and other quantitative research fields.

Yang was drawn to Indiana University because of the people.

“The main attractions for me are the opportunities to learn from and work with amazing colleagues and students at BEPP and IU!” says Yang, who is settling nicely into Bloomington with her husband, whom she met in high school.

“We came to the U.S. together, got married and both got our PhDs in Economics at Duke University,” says Yang.

In her free time, Yang loves to immerse herself in music. She grew up playing the accordion and piano. She also participated in school choir for many years. Now she is primarily an avid listener and especially likes classical and pop music.

“I have really enjoyed the music and theatre events and performances at IU!” says Yang.

Alumni Spotlight: Kirah Cahill

Posted on September 6, 2024 by milleabi

BEPP Graduate Kirah Cahill

In December 2020, several months after graduating from IU with a degree from BEPP, Kirah Cahill began her Master of Architecture at the University of Pennsylvania.

“I’ve always been artistic so after my time in the BEPP program, I wanted to do something more creative,” says Cahill, who received her master’s degree in May 2024. She plans to join an architectural firm and hopefully start her own practice in the next five to ten years.

While at IU, Cahill particularly enjoyed taking Kerem Cakirer’s class because of its interactive and engaging nature.

“That class material could have been dry, but he had a good sense of humor and made up his own problem sets with background stories, which were always entertaining,” she says.

“My time at IU was a really great opportunity for me to figure out who I was as a person and to gain more self-confidence and motivation to push the boundaries and see what I could do,” says Cahill. “I became very independent, set goals for myself, and had a sort of awakening that I could go further than I had anticipated when I first started college.”

Cahill has partnered with two online education platforms, DesignMorphine and PA Academy, to host online webinars that teach participants how to use various creative software to make innovative designs.

These organizations, which were cofounded by ex-Nike designer, Michael Pryor, aim to share knowledge and advance the field of digital design.

“My interest in teaching these webinars stems partially from my time working as a teaching assistant for K201 Computers in Business and participation as a Kelley-to-Kelley peer mentor while I was at IU,” says Cahill, who has fond memories of her time in Bloomington—particularly the energy of the basketball games and the strong sense of community that came with the experience. Her favorite memory on campus, however, is adopting her precious Australian Shepherd mix, Patch, during her junior year.

Kirah’s dog, Patch, sporting his best IU gear

“He was six months old, so I went through all the puppy phases with him,” she says. “I loved to dress him in cute doggie jerseys and walk him all around campus.”

When Cahill lived in Bloomington, she often hiked state parks. She particularly liked to go to Hickory Ridge Fire Tower in Brown County, which is a rickety metal staircase that goes up to a platform where one can soak in the impressive view through the trees.

“It’s especially magical in the fall when all the trees change color,” she says.

Now she and Patch enjoy exploring parks around Philadelphia.

In the fall of 2023, Cahill visited Rome, Florence, and Bologna, Italy, for a tenday trip where she soaked in the architectural vibe of these historical cities.

“Everything in Rome is massive!” Cahill says. “You wonder how they made things so big back when they had such limited technologies.”

She also loved the dining.

“The food is amazing,” she says. “I’m a pasta, pizza, and ice cream person. I was eating everything there.”

She especially loved the city of Bologna as it exuded an authentic Italian, small-town community feeling.

“I’m definitely planning to do more trips abroad!” she says.

In her free time, Cahill likes dabbling in jewelry design.

“In my architectural degree, we use a lot of 3D printing to make models, so I’ve been experimenting with it to make jewelry,” says Cahill.

Cahill’s design work was recently featured in the spring edition of Metropolis Magazine, a prominent architectural design publication, as part of the Metropolis Future 100 Class of 2024. She was ranked fourth among 29 graduate-level winners.

To see Cahill’s design work, visit her on Instagram @ksc.dsn or find her on LinkedIn.

Alumni Spotlight: James Snyder

Posted on September 6, 2024 by milleabi

BEPP Graduate James Snyder (middle) with his parents.

James Snyder graduated from IU in 2022, having studied economic consulting and business analytics.

While at IU, Snyder was involved in a number of activities, including participating in Greek life, playing on a volleyball team, and working as a campus tour guide. The cherry on top was auditioning for and securing a spot in the a Capella group, RPF, as a senior.

“When I walked out of that audition room, I was overcome with emotion,” says Snyder. “I didn’t realize how much I had missed singing!”

In April 2022, his group was invited to sing the National Anthem at the Little 500 race.

“That was so cool!” he says. “We sang during the warm-up lap, and then we had to book it across the track so we wouldn’t be stuck in the middle for the race.”

Following graduation, Snyder moved to Denver, Colorado, where he has worked for the past two years as a business analyst at McKinsey & Company. Studying BEPP helped develop the skills Snyder needs for his career.

“In the majors I was in with BEPP, you think about solving problems using an econ lens, like the economic consulting kind of angle or maybe public policy,” says Snyder.“ The other side of it is you solve problems using more of an analytical data lens.”

As a business analyst, Snyder is asked to solve problems using different frameworks, but economics and analytics frameworks are always involved to some extent.

James Snyder (right) with BEPP Senior Lecturer Thomas Youle

“It really helped me learn how to think through a problem and how to use different tools to solve a problem,” says Snyder. “Those are helpful skills to have in consulting. It’s good to know how to analyze data and use Excel, but it’s also good to know more about the nuances around economics.”

Working across campus with all kinds of people from different backgrounds set Snyder up to be a social and collaborative teammate.

“Whether I was working on the volleyball court or as my fraternity’s president, I was solving problems of all different kinds,” he says. “Knowing how to effectively work in small teams is probably the greatest skill because if I couldn’t make a team connection, I couldn’t be effective in my job.”

Snyder thoroughly enjoyed being a part of a Big Ten campus. Just nabbing a job as a campus tour guide for three years felt like he was getting away with something.

“I got paid, but it certainly didn’t feel like a job,” he says. “I love talking to students!”

It’s something he still does as Snyder works with the McKinsey Recruiting team for IU, helping to organize the IU campus visits, networking events, and coffee chats.

While at IU, Snyder especially appreciated Thomas Youle, who was both his teacher and senior advisor for his honor’s thesis. Snyder makes sure to grab coffee with Youle anytime he’s back on campus.

When he’s not working, Snyder enjoys skiing, golfing, and playing pickleball.

Because he grew up in Illinois, he’s a big Chicago sports fan.

“Bears and Cubs mostly. Bulls and Blackhawks are a tier below only because I’m more of a football and baseball guy,” he says.

His favorite R&R spot is Sun Valley, Idaho—a small resort town where his grandparents reside.

“It’s where I learned to ski and love the outdoors,” says Snyder. “It’s full of infinite beauty.”

Currently, Snyder is single and embracing this newfound peace and quiet.

“I lived with 20 dudes for three years at college,” he says with a chuckle. “Now I’ve done a full 180.”

Ph.D. Placement: Moyan Li

Posted on September 6, 2024 by milleabi

Ph.D. Graduate Moyan Li

Prior to his doctoral studies, Moyan Li received his Bachelor’s and Master’s degree in Economics from Wuhan University. In the summer of 2024, Moyan joined Hong Kong University of Science and Technology (Guangzhou) as an Assistant Professor.

“I extend my heartfelt gratitude to my co-chairs Haizhen Lin, Dan Sacks, George Ball, and my committee members Andrew Butters, RJ Niewoehner, and Krista Li,” says Li. “Their expertise, guidance, and support have been invaluable throughout my journey. I also appreciate my parents for their unwavering love and encouragement.”

Li’s research focuses on innovation and health economics. His research interests include innovation, health economics, and applied microeconomics. His studies estimate causal effects using applied econometric methods, such as instrumental variable strategy, differencesin-differences models, and event study. His projects leverage large-scale and proprietary data, such as government records, nationally representative surveys, vital statistics, and medical device transaction records. He also uses web scraping and natural language processing to construct novel datasets.

During Li’s doctoral study, he has done research on healthcare innovation and public policy with advisors and collaborators from diverse academic disciplines. In one of his papers, using differences-in-differences models and instrumental variable strategy, he finds that corporate venture capital fosters more medical device product approvals. However, corporate venture capital-backed startups experience worse innovation product quality and more adverse events after devices are launched. In another paper, he finds that a $1 increase in teenage cigarette taxes reduces adult smoking and adult mortality by 9% and 4%, respectively. He also finds larger mortality reductions for men and older individuals, and most of the mortality decline comes from diseases linked to the direct, physical effects of smoking.

“I’m excited to explore more about healthcare innovation development and product quality management, and continue to publish rigorous, data-driven studies with real-world impact,” says Li.

During his doctoral program at IU, he had the privilege to independently teach undergraduate Introduction to Managerial Economics and Strategy, virtually during the spring of 2021 and in person during the spring of 2022.

“I regard teaching as an opportunity to build a long-term and constructive effect on students,” says Li, who believes that active engagement is the key to the learning process.

“My students come from diverse backgrounds, and the online environment of the 2021 spring class made it even more challenging,” he says. “I employ various strategies to create an intriguing and inclusive classroom. Besides discussing course-related topics, I extend the lecture materials to frontier academic research and share my experiences as a researcher. I also talk about career plans with students.”

Li appreciates the fact that at the Kelley School of Business, 68% of students in the PhD program are international.

“I’ve been exposed to a wide diversity of nationalities, races, religions, languages, and sexualities,” says Li. “The opportunity to closely interact with people with different perspectives has widely broadened my views. I not only learned how to appreciate the value of diversity but also built my empathy for people who are treated unequally. I look forward to contributing more to equity and diversity, both inside and outside my workplace.”

Ph.D. Placement: Yanhao Wang

Posted on September 6, 2024 by milleabi

Ph.D. Graduate Yanhao Wang

Yanhao Wang grew up in Guangdong, China. He earned his bachelor’s degree in finance and Master’s degree in Economics from Shanghai Jiao Tong University. He was also an exchange student at Queen’s University in Canada before joining BEPP in 2018 as a PhD student. As an applied microeconomist, Wang’s primary field of research has been the economics of healthcare.

“I study the behavior and decision-making of healthcare providers such as physicians and hospitals, and consequent impacts on patient health and medical expenditure,” says Wang. In his dissertation, Wang empirically shows that when physicians’ personal wealth shrinks, they might be more likely to recommend lucrative surgeries to their patients, leading to over-treatment and worse patient outcomes.

Besides being a health economist, Wang is also interested in household finance and the real estate market. This aligns well with the strengths of the Alberta School of Business, which he joined as a postdoctoral fellow after graduating from the Kelley School. “I’m excited about my new job in Canada as this position offers me great flexibility in finishing my ongoing projects and exciting opportunities to explore these new research directions as well,” says Wang, who is thankful for the huge support from not only his advisors but also other faculty members in the department for the past six years.

“I’m so glad that I was treated as a colleague and a coauthor instead of just a student,” he says. “Everyone has been so generous in giving me encouragement and advice.”

Wang especially appreciated the chances of presenting his papers at BEPP’s Tuesday brown bags.

“I didn’t realize how invaluable these experiences were until I gave job talks at other schools!” he says.

COVID hit when Wang was in his third year in the program and had just finished his coursework.

“I was a bit lost at that time as I had limited interactions with everyone else because of the lockdown,” he says. Fortunately, Wang pulled himself out of the haze by running. While in Bloomington, he often enjoyed long Sunday morning runs at the B-Line Trail. He also ran Indy’s Half Marathon twice.

“Life is like a marathon,” says Wang. “Running has taught me never give up.”

Wang met the love of his life in the doctoral program. They married in front of family and friends on the same day of commencement before honeymooning in Italy and France. The newlyweds, who coauthored a paper together, will join the same school in Alberta.

Navigating the Intersection: The BEPP Club Journey

Posted on September 6, 2024 by milleabi

Kelley students conversing over a luncheon.

In the dynamic realm where business meets policy, the BEPP Club stands tall as a catalyst for growth and opportunity. Rooted in a passion for business economics and public policy, the BEPP Club’s mission is to empower members through skill development, networking, and impactful partnerships, including those with esteemed professors within our department. Reflecting on the past semester, the BEPP Club witnessed remarkable growth and engagement.

“Our call-out meeting, despite initial challenges, saw enthusiastic participation, setting the tone for what was to come,” says Arushi Singh, President of the BEPP Club. “Notably, our collaboration with My Consulting Offer drew more than 200 eager minds to our Consulting Interview Workshop, a testament to the value our club brings to its members.”

The Consulting Interview Workshop served as a pivotal event, providing attendees with invaluable insights and practical strategies for success in the competitive world of consulting. Participants learned from seasoned professionals, gaining insider knowledge on case interview techniques, behavioural assessments, and industry expectations. Through interactive sessions and hands-on exercises, attendees honed their skills, boosted their confidence, and gained a competitive edge in their job search.

The BEPP Club is committed to equipping its members with the skills and knowledge needed to excel in today’s ever-evolving landscape. In an era marked by rapid technological advancements and complex global challenges, the demand for individuals with expertise in business economics and public policy has never been greater. From shaping corporate strategies to informing government policies, the intersections of business and policy play a crucial role in driving innovation, fostering growth, and addressing societal needs.

Kelley undergrads enjoying a much needed celebration.

“As a club, in conjunction with the department, we are dedicated to preparing our members for success in this dynamic environment,” says Singh. “Through workshops, guest lectures, and networking events, we provide opportunities for handson learning, professional development, and mentorship. By fostering collaboration and dialogue, we aim to empower our members to become leaders and change-makers in their respective fields.

Looking ahead, the BEPP Club is poised for an exciting semester brimming with possibilities. They are thrilled to announce the launch of a mentorship program, providing personalized guidance and support to our members as they navigate their professional journeys. Additionally, the BEPP Club will host workshops focused on interview techniques and resume writing, equipping our members with the skills needed to succeed in today’s competitive landscape.

“Our efforts to broaden our network and establish connections continue to bear fruit,” says Singh. “By forging partnerships with other schools, departments, and organisations on campus, we aim to create new avenues for collaboration and growth within our community.”

The BEPP Club invites you to join them in shaping the future of business economics and public policy. Whether you’re a seasoned professional or just beginning your exploration of these fields, there’s a place for you in the BEPP Club.

“Together,” says Singh, “let’s empower futures, build bridges, and make a lasting impact on the world around us.”

Kelley students building connections through conversation.

Course Spotlight: Energy Economics and Environmental Policy

Posted on September 6, 2024 by milleabi

Photograph of a man wearing a black business suit and a lavender-colored tie. He is smiling.

Assistant Professor Andrew Butters

Energy Economics and Environmental Policy (G455) is a brand-new course that the Business Economics and Public Policy department is offering to help prepare students to think critically about energy and environmental issues and how they relate to businesses as well as public policy. Currently, this course will be able to serve as an elective for both the business analytics and sustainability co-majors.

“The department saw this as an opportunity to offer students an elective course that would be well suited for those interested in having a deeper understanding of environmental policy issues as they relate to both how they affect businesses and how businesses should be formulating their decision making as well as thinking about it from the public policy perspective,” says Professor Andrew Butters, who is working to roll out the course this fall.

The vision for G455 is to have students develop a foundational set of tools and frameworks to be able to evaluate a broad array of environmental issues with an emphasis on economics. This foundation will lean heavily on unpacking topics such as externalities, market power, public goods, taxes, and regulations. The course is designed so that each week is centered on furthering students’ understanding of the dimensions related to a currently debated issue in environmental policy such as implementing a carbon tax.

“In every case, the students are asked to get their hands dirty with the key data and evidence relevant for the issue,” says Butters.

Students will be given the conceptual frameworks to engage more deeply with the issues surrounding environmental policy.

“It’s not enough to simply know about public goods or externalities,” says Butters. “Students will also learn how to determine which framework or concept is the most relevant for any particular issue.”

Students will also become familiar with a range of different sources of data commonly used and incorporated into the business analytics of environmental policies. By way of exploring these datasets and using them to analyze the issue at hand, students will strengthen their empirical and analytical skillset.

Following the completion of this course, students will be able to outline the key issues in evaluating the merits of a range of policies, like, for instance, increasing/introducing a tax on energy such as a gasoline tax.

Students will also be familiar with several of the sources of good data to bring to bear in making that evaluation. This sort of application occurs routinely in government agencies, and consulting firms, as well as benefits public policy discussions.

“After taking the course students might have a deeper understanding of what goes into why the price of gasoline is $3.79/gallon, and what the variety of factors are that make the price of gasoline vary both over time and across states,” says Butters.

Energy Economics and Environmental Policy is one of three new courses that will come online next year. All will have a particular application of focus; this one is environmental policy. Another one will be focused on healthcare policy and analytics. The third is Digital Economics for Business. All three will hit the ground running this year as opportunities for students to choose an elective that they can tailor for what they envision their future careers to be.

Increasingly, universities are seeing the value in offering a course like this. Kelley was particularly well set up to offer it given its already extremely strong reputation and expertise associated with the business analytics and sustainability co-majors that feed into the Economic Consulting and Public Policy majors.

“Not only is this course supported by a strong foundation that exists around it, but the department was able to roll something like this out quickly because of the expertise here,” says Butters.

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