News Release: Finance and Economics, People

Sep. 17,  2008

What's Next: Experts Available to Comment on Economy

Consumers are justifiably worried about the economy and what's next on the horizon since the biggest drop in the stock market since 9-11 and other negative economic indicators. The following Emory University finance and economic experts are available for commentary. Contact Beverly Clark, 404-712-8780, 404-275-4771, for more information and to arrange interviews.

Economic Prospects for Consumers

Tom Smith
Goizueta Business School
Practice of finance, financial economics

"People get scared about their assets, especially their retirement accounts. It's important to know that the stock market will rebound — we just don't know how long it will take. A lot of the fallout from this depends on how people perceive it and react to it, which in turn will cause how the market reacts," says Smith.

Ray Hill
Goizueta Business School
Practice of finance, former investment banker with Lehman Brothers.

"What happened to Lehman is the result of things that we already know about... all the bad things that have already happened, such as the decline of the housing market. I don't think Lehman's demise or Merrill's being bought by Bank of America is going to make [the situation] any worse," Hill says.

Job Market for Students

Paul Fowler
Executive Director
Emory Career Center

"Job opportunities for liberal arts graduates aren't driven by industry trends," says Fowler. "These students benefit from unlimited options in multiple sectors where employers are looking for well-rounded, well-educated change-agents who can make a difference in their organizations and businesses," he says. What is vital now and in the future is to further develop Emory's alumni network, Fowler says, which helps to hedge against economic downturns.

Andy Rabitoy
Goizueta Business School
Director, BBA Career Management Center

Business students are entering a finance job market that will be fiercely competitive, much more than usual, Rabitoy says.

"We are encouraging our students to network as much as possible... Student may not be able to start out on a traditional investment banking path, but we do see promise and opportunities in mid-market and boutique firms."

Economic forecasts

Essie Maasoumi
Arts and Sciences
Distinguished Professor of Economics

Maasoumu attributes much of the current economic situation to the "lack of independence of the Fed, letting immediate interests dominate the outcome, no matter what the long-term consequences... even the most superficial commentators realize that the Fed is out of bullets."

Maasoumi's specialties include economic forecasts and policy, welfare economics, international political economy, labor issues, Middle East economics, financial economics and econometrics. He is the editor of the journal, "Econometric Reviews."

Price of Oil, Gas Markets

The fluctuating price of oil and its effect on the gasoline market are among the issues addressed by Hashem Dezhbakhsh, professor of economics, director of undergraduate studies and chair of the Department of Economics. His other specialties include financial markets and volatility, and general macroeconomic trends and changes.

Impact on College Financial Aid

Dean Bentley
Director, Emory Office of Financial Aid

"There are residual effects from the economic downturn," says Bentley. "Private loans are more costly and some lenders are dropping this piece of their portfolio altogether. Families have less liquidity with equity in their homes and other assets which impacts financial aid application data and is encouraging a higher application pool for assistance. Federal loans should still be available but options are more limited and costs are higher."

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