Category Archives: Economics

Economic Researchers Have Paper Accepted by Journal of Developmental Economics

Andrea Civelli, associate professor of economics at the Walton College; Andrew Horowitz, a Walton College economics professor, and Arilton Teixeira of the Fucape Business School in Brazil have had their paper “Foreign Aid and Growth: A Sp P-VAR Analysis Using Satellite Sub-National Data for Uganda” accepted for publication by the Journal of Development Economics. Continue reading Economic Researchers Have Paper Accepted by Journal of Developmental Economics

Think. Plan. Do.

Thea Winston, a senior accounting major from Forrest City, Arkansas, is a thinker and a planner. She gathers pertinent information, dwells on it, creates a plan and then executes it. Information gathering is what led her to the Sam M. Walton College of Business and has kept her on track ever since.

When Winston was in high school in eastern Arkansas, she began to critique her likes and dislikes to plan for her future. She hated blood and gore, so medicine was a definite no. She liked numbers and logic, which led her to work after school at certified public accountant Sharon Wilson’s office in Forrest City.

While there, Winston performed administrative duties – answered the phone, made copies, filed materials – and was able to tackle the occasional accounting task and observe her boss at work. She learned what an accountant does and saw first hand that the work suited her. She realized she could become a CPA.

Her task became: Find a college that fit.

Over two summers, Winston attended two week-long residential programs at Walton College – Technology Awareness Program and Business Leadership Academy – where she met faculty and staff, lived on campus, befriended other campers and applied for scholarships.

After that, her mind was made up. Walton College was her choice and accounting was her major.

Helping Out

Winston’s summer camp programs eased her transition into college. She had made friends at both programs and reconnected with them in her freshmen year. She also met Barbara Lofton, the director of Walton’s Office of Diversity and Inclusion.

“Dr. Lofton is always willing to help,” Winston said. “She always checked up on me. She gives you tough love and is always there.”

Thea Winston [photo credit: Ryan C. Versey]
Thea Winston
[photo credit: Ryan C. Versey]
Winston’s Honors adviser for the past four years is Jason Adams, the associate director of Walton’s Honors Program, who was always there for Winston as well. She cites Susan Anders, the assistant director of Global Engagement, as another Walton staff member who was equally friendly and supportive.

“She always made time to answer my questions,” Winston said.

With the support of these Walton College staff, it is no surprise that Winston was an active participant in the Honors Program and Study Abroad and scholarship opportunities.

During her high school summer camp programs, Winston applied for and became a Boyer Fellow. The fellowship is earmarked for business students from Arkansas who have earned a 32 ACT or 1450 SAT college admission exams, along with a 3.75 grade point average and pays for her tuition, fees, books, room and board and other academic expenses.

Winston has also received the Arkansas Academic Challenge and Arkansas Governor’s Distinguished Scholarships, as well as scholarships from Tyson and Conoco Phillips. Talking to Walton faculty and staff helped her find scholarships.

“They’ve helped out so much,” Winston said. “I see a lot of students struggle and I know that worrying impacts their studies. It (scholarships) allowed me to focus on what I was doing academically.”

The scholarships also had an impact on her parents who have two kids in college. Winston’s brother, Avery, is an engineering student at the University of Arkansas.

Walton World View

In addition to studying accounting and general business, Winston expanded her working business knowledge through an internship for two summers at Ernst & Young in Atlanta. She also participated in Walton’s study abroad program to learn about Vietnamese culture and business practices.

Thea Winston
During a service project in Vietnam, Winston works with team members to power and heat resident housing.

In 2015, the summer before sophomore year, Winston traveled to Vietnam for a month with five other Walton students. For two weeks, she worked on a community development project building individual greenhouse systems to power and heat resident housing. Working with other business and agriculture students from the University of Arkansas, Thea learned from Vietnamese students who served as mentors and translators.

The travelers stayed on a Vietnamese university campus for two weeks. They slept on mats lying directly on a twin-size bed frame – Winston bought a second mat to create a softer bed. The food also was a change for the Arkansas native. Breakfast was often meat with rice, along with coffee with sweetened condensed milk ladled on top. One of her favorite meals was a beef dish with a sauce. She avoided the fish dishes if the eyes and head were intact.

Thea Winston
Thea Winston

“The first year we went, none of us had much of an idea of what we would be doing or how successful the program would ultimately be,” said Stephen Kopp, associate professor for the Department of Marketing. “Whether she realizes it, Thea was instrumental in the initial and continuing impact of this program. This was a brand-new program, and I was still working on the details. Her consistent question was, ‘My mom wants to know how is this relevant to my major?’ This compelled me, and still does, to make sure that the students understand the relevance of our work in Vietnam. I think she did not and does not realize the impact of her mom’s question has had on every aspect of the Vietnam program.”

In spring 2017, Winston attended the University of Sussex in South England in the University of Arkansas’ exchange program. She took four classes there – international business, ethics, race and ethnicity, and leadership – with students from Russia, Switzerland, the Middle East and England. The experience taught her about multi-national enterprises, racial issues in other countries and group dynamics with diverse members.

During her time in England, she learned many people there knew American politics, but most Americans were not in tune with world politics. She now sees the importance of being aware of global issues including political ones. She keeps up with her fellow students from her travels via social media.

Stateside

At the University of Arkansas, several classes and professors were especially thought provoking for Thea. Katie Terrell, an instructor for the Department of Accounting, taught Accounting Technology, where Winston learned about data analysis and the coding needed for accounting systems. It gave her insight into a different aspect of her major.

Thea Winston [photo credit: Ryan C. Versey]
Thea Winston [photo credit: Ryan C. Versey]
“She (Katie Terrell) enjoyed her job; it made me enjoy her class,” Winston said.

The Honors Economics Colloquium class taught by Amy Farmer, a professor in the Department of Economics, tackled life decisions, which involved economic thinking and decision making.

“Thea took my Honors colloquium course, which is a discussion-based economics class requiring a lot of critical thinking about any number of issues, some of which are controversial,” Farmer said. “Thea was an active participant in that class, adding a lot of insight and perspectives that added to the class.  She showed a great deal of maturity and ability to think critically, which impressed me quite a bit. I look forward to seeing what happens in Thea’s future.”

Next Steps

After Winston graduates in May with a bachelor’s degree in accounting, she will attend Vanderbilt University to earn a master’s degree in accounting. Once she graduates from Vanderbilt, she hopes to work at a public accounting firm in consulting, auditing or tax accounting for several years and then reevaluate her professional goals and direction.

No doubt, her skills at researching an issue, creating a plan and executing the plan will aid her on her journey to Nashville and beyond.

Kali Publishes Research on ‘The Burden of Glory’ in Journal of Economics & Management Strategy

Raja Kali, a professor in the Walton College Department of Economics and the Conoco Phillips Chair in International Economics and Business, has had his paper entitled “The Burden of Glory: Competing for Non-Monetary Incentives in Rank-Order Tournaments” accepted for publication in the Journal of Economics & Management Strategy. Continue reading Kali Publishes Research on ‘The Burden of Glory’ in Journal of Economics & Management Strategy

Geng Publishes Regulation and Pricing Research in Journal of International Economics

Difei Geng
Difei Geng

Difei Geng, an assistant professor in the Department of Economics at the Walton College, has had his paper “International Effects of National Regulations: External Reference Pricing and Price Controls” accepted for publication in the Journal of International Economics. Continue reading Geng Publishes Regulation and Pricing Research in Journal of International Economics