The (Almost) Recession, Pursuit of Knowledge, and More – Los Angeles News
It’s Friday, ya’ll! Let’s dig into some positive Los Angeles news from the previous week. And for those that can, please donate to those who are being affected by the California wildfires.
The Housing Slump is Not (Yet) a Recession – Market Watch
UCLA Anderson School of Management Economist Ed Leamer, one of the largest voices in the housing market to share his concerns leading up to the 2008 recessions, was recently interview by Howard Gold at Market Watch, regarding a distinct slowdown in housing prices and the number of new homeowners.
“Of the 11 recessions since World War II, nine have been preceded by ‘substantial problems in housing and consumer durables,’ Leamer wrote in his 2007 research paper “Housing IS the Business Cycle.”
““If you look back to 1994 or so, you’ll see a period of time where it was pretty flat around 1.4 million units, up and down a little bit, but it was sustained for a long period of time at that level,” he continued. “If it got over 1.4 [million annually] you’ve got to start worrying about it” because it would be a sign of too much froth.”
Leamer continues, saying, “There’s no question in my mind that the housing sector’s going to be difficult over the next couple of years. The price appreciation is going to be a thing of the past. The higher interest rates are going to be a problem, and the change in the tax codes that affects several states is yet another source of problems.”
You can read more from Gold’s interview with Learner here.
Pursue Knowledge, Not Happiness, Advises Mihaylo Professor – Mihaylo News
Cal State Fullerton’s Mihaylo College of Business Marketing Professor Chiranjeev Kohli announced a forthcoming book that will address many of the pressing issues young MBAs face as they fully embrace adulthood—from the practical to the more elevated, such as harnessing willpower and discipline, and how to handle difficult relationships in the workplace.
Some of the guidelines Kohli sets forth are Investing: How to Attain Reasonable Success; Warranties: A Needed Security or a Wasteful Expense?; and Do Unto Others … Only if Others Treat You With Respect.
Chiranjeev Kohli (second from left) / Photo via business.fullerton.edu
In his recent talk at the Pollak Library, Kohli poses the question, “What is the most important thing that we are trying to pursue in this life? If you say it is happiness, I disagree. The ultimate frontier is the search for truth or true knowledge … If you live by this, happiness will follow. But if you seek happiness, you may never find it.”
You can read more about Kohli’s book and more here.
LMU LA Professor Receives Innovation Award for Entertainment Finance – LMU LA News
David Offenberg, Associate Professor of Finance at LMU LA, received national recognition with the Financial Management Association’s (FMA) Innovation in Teaching Award.
The Association recognized Offenberg for his work in entertainment finance. His methodology, which combines the hard skills of modeling and the soft ‘people’ skills of communication, impressed the awards committee.
“The real gift of this award is that it allows me to show my peers a more effective way to teach financial modeling … It’s so exciting to know that courses will change and student outcomes will improve as faculty adopt my way of teaching,” says Offenberg.
First launched in 2014, the Entertainment Finance course made available to business students concepts that had been heretofore only available to film majors. Tom Sheppard, a former student of Offenberg’s, attests to the value of his guidance.
“I had virtually no connections in the film and television industry going into the course as a senior … [but] by the end of the semester, I had a job lined up at Lionsgate Entertainment—even before graduating. In my opinion, it’s the most valuable class [at] LMU’s business school.”
You can read more about Offenberg’s recognition here.
The Lehigh Expo, Columbia Stats, and More – New York News
Let’s explore some of the most interesting stories that have emerged from New York business schools this week.
Lehigh Expo Showcases Students’ Creativity – Lehigh College of Business & Economics Blog
As part of the recent Lehigh University College of Business and Economics School Expo, nearly 600 Lehigh students across all disciplines showcased projects, many of which were “outcomes of capstone courses that leverage intense study in a chosen field.”
One project of note was Danielle’s Buddy, a device developed by eight Lehigh students, including Emily Randolph, ’19 to “locate children with autism who might become lost.” According to the article, the device, which comes equipped with GPS, WiFi, and Bluetooth, attaches to “the pants or shoelaces of a child with autism and sends a signal to caretakers if the child wandered from a particular area or became lost.”
Students in attendance at the recent Lehigh Expo / Photo via lehigh.edu
Learn more about more exciting Lehigh Expo presentations here.
New Columbia Business School Study Uncovers Significance of the Mortgage Market as a Barometer in Presidential Elections – Columbia Business School Blog
In a study that has the potential to influence how the American public views “the relationship between the economy and national elections for years to come,” Columbia Business School professor Charles W. Calomiris and Georgetown’s Alexis Antoniades recently published research that finds that the mortgage crisis of 2008 was “five times more impactful on voting behavior than rising unemployment.”
Professor Calomiris writes:
“We all know that Americans vote with their wallets. When times are tough, incumbents are punished at the ballot box, and when America’s economy is thriving, those in the White House are often rewarded. This new research shows us that when it comes to mortgage markets, that’s not necessarily the case.”
Read more about the duo’s groundbreaking research here.
Columbia Business School Reveals 2018-19 Essays and Deadlines – MetroMBA
The incoming batch of MBA deadlines and essay questions for the newest class of Columbia Business School grad students has been officially revealed.
For admission during the 2018-19 academic year, students must answer the following questions:
Goal: What is your immediate post-MBA professional goal? (50 characters)
Essay #1: Through your resume and recommendations, we have a clear sense of your professional path to date. What are your career goals over the next 3-5 years and what, in your imagination, would be your long term dream job? (500 words)
Essay #2: How will you take advantage of being “at the very center of business”? CBS urges those undertaking essay number two to watch this video from Dean Glenn Hubbard (250 words).
Essay #3: Please provide an example of a team failure of which you have been a part. If given a second chance, what would you do differently (250 words)?
Optional Essay: What else would you like to tell the Columbia admissions committee? You can use this space to provide your explanation if there any areas of concern in your own academic or personal history. This essay does not need to be traditionally formal and can include bullet points (maximum 500 words).
Check out the upcoming MBA deadlines for CBS here.
Washington Business Ranked Best in U.S. for 2017
For 11 years, CNBC has ranked the nation’s states to determine which are the most economically competitive. After months of data analysis—reviewing more than 60 measures of competitiveness from taxes to regulatory climate and quality of the workforce—Washington came out as “America’s Top State for Business in 2017.” Continue reading…
Washington State Economy Continues to Boom
Thanks to new construction in downtown Seattle and more major tech corporations moving to the area and expanding, Washington state has become even more attractive as a place to live. Despite the high cost of living, Washington’s state economy is one of the best in the country, and in the world. In fact, according to U.S. News, Washington is ranked fifth overall in the ‘Best States’ analysis and is third for patent generation between 2013 and 2015. Continue reading…
Ivey Professors Talk 2017 Canadian Economy
In the last month, two Ivey Business School professors have been interviewed to talk about the state of the Canadian economy in 2017. In both cases, they shared their concerns and their ideas for the future. Continue reading…
LBS’s Reload Greece Conference Offers Insights on Economic Recovery
London Business School (LBS) published an article offering insights into how the Greek economy might bounce back at its recent Reload Greece conference, co-presented by LBS and SEESOX, Oxford’s European Studies Centre.
Continue reading…
