Social and Behavioral Sciences Commons^™

Cultivating The Dream: Migrant Experiences Under Free Trade Agreements, Hannah Van Dolsen

International Affairs Senior Theses

This study is a comparison of two different regional free trade agreements, NAFTA and the European Union. It analyzes the goals and structure of the respective agreements, the provisions for migration and labor in each agreement, and how these provisions translate to the employment conditions of migrant workers who have immigrated to a more developed nation to gain employment in low-skill jobs. The first group examined is Mexican migrant workers in agriculture and hospitality in the United States post-NAFTA, and the second group is Polish migrant workers in agriculture and hospitality in Britain after the 2004 accession of the EU. …

Do Fuel Hedging Derivatives Provide Any Economic Benefit To Commercial Airlines Within The United States?, Nicholas Volpe

Economics Student Theses and Capstone Projects

This paper investigates whether the common practice of hedging the cost of fuel provides any economic benefits to participating airlines. Our study looks at 7 publically traded U.S. airlines over the course of 8 years, from 2008-2015, to determine whether revenue, income, financial leverage, credit quality, or the percentage of yearly fuel hedged contributes to an increase or decrease in overall firm value. We use Tobin's Q, which incorporates a company's market capitalization, outstanding stock, and assets and liabilities, as a proxy for firm value. We find statistically significant evidence that during this time period, a 1% increase in fuel …

Formalization Effects Of Microfinance In Sub-Saharan Africa: Synthesizing Evidence Of Potential Transitions From The Informal To Formal Economy, Claire E. Boucher

Economics Student Theses and Capstone Projects

Sub-Saharan Africa is the only region of the world where the number of people living in absolute poverty continues to grow. The region is characterized as having a large informal economy, within which exist a number of negative social and economic circumstances hindering economic growth and development. Recently, microfinance has been suggested as an innovative approach towards poverty alleviation and increasing standards of living. Through comprehensive synthesis of existing literature, in combination with an examination of the relationships between aspects of formal economies, this paper provides evidence that microfinance institutions can serve as an avenue towards formalization. However, incentivization, supporting …

Raising Minimum Wage Lowering Snap Expenditures, Samuel Yarian

Economics Student Theses and Capstone Projects

The amount of money that the United States spends annually on the welfare program Supplemental Nutrition Assistance Program (SNAP) has been on the rise over the last two decades. In tandem with this increase is a trend for a greater portion of Americans falling below the poverty line. This study has looked at the effect that minimum wage has on decreasing or reversing this trend. Two types of models are used U.S. Regression and State Difference-in-Difference. The dependent variables being tested for were percent of population on SNAP and change in per-capita expenditure on SNAP. The findings from these models …

Gender, Education, And Development: An Analysis Of The Impact Of Educating Girls On The Economic Growth Of Africa, Emebet Hailemariam Tessema

Economics Student Theses and Capstone Projects

Among numerous critical issues in Africa, the gender gap in education is the leading tragedy that continues to deteriorate Africa’s economy. Several studies have demonstrated the various social and economic benefits of education, but without emphasizing the implication of the gender gap in education on Africa’s economic growth. Millions of Africa’s girls and women are not attending school, mainly because of the social norms hindering gender equality in educational resources. Education is a basic human right and its availability should not be limited based on social identities such as gender, class, or race. Women are ‘untapped’ resources in Africa and …

Coffee Bean, Coca Leaf, And Crime In Colombia, Mayra Nunez

Economics Student Theses and Capstone Projects

In this paper, I am using panel data of merged datasets that include coffee bean hectares of cultivation, coca leaf cultivation, massacres, and selective assassinations to study the relationship between coffee bean production and the level of homicide rates in Colombia during 2002-2010. This is a departmental level analysis across six coffee-growing departments: Antioquia, Caldas, Cauca, Huila, Tolima, and Cauca Valley. I use a fixed effect regression model to analyze the relationship between coffee bean production, coca leaf production and the two types of homicides. My results do not show a direct link between coffee bean production and levels of …

Malt, Hops, And A New Demographic: A Study Of The Forces Behind The Craft Brew Revolution, James Harrison

Economics Student Theses and Capstone Projects

This paper examines factors associated with the recent rise in demand for craft beer, referred to by many as the “Craft Brew Revolution”. Using data for the number of brewery permits issued in each state by the Alcohol and Tobacco Tax and Trade Bureau (TTB), I look at demographic characteristics associated with areas that have seen an increase in demand for craft beer. The paper also focuses on the influence the Internet has had on changes in demand within the beer industry, by analyzing the correlation between the number of breweries and online search behavior collected through Google Trends. Results …

European Ageing Population And Asylum Seekers: Can Europe Solve One Problem With Another?, Theodoros Saroglou

Economics Student Theses and Capstone Projects

One of the biggest challenges of our times is the ageing of the population. In the Western world - especially in Europe - low fertility rates and higher life expectancy have shrunk the labor force and created a large pool of older people who have to depend on that decreasing labor force. The economic ramifications of the situation can be severe. When the population is ageing, pension and healthcare costs are raising. Meanwhile, the labor force - the group that contains the people who are paying for those costs - is shrinking. As a result of the reduced labor force, …

Analyzing Managerial Efficiency In Major League Baseball: A Sabermetric Approach, Jebediah C. Clarke

Economics Student Theses and Capstone Projects

Modern statistical analysis has allowed for teams to more accurately measure Major League Baseball player performance. However, other than tracing wins there are few ways to track the performance of on-field managers whose strategies, decisions, and expertise fundamentally influence the outcome of each game. I begin this paper by investigating and critiquing prior empirical analyses that have attempted to quantify the effect of managerial skill on team performance. Using Stochastic Frontier Analysis and data from the 2008-2015 MLB seasons, I expand on previous research by calculating managerial efficiency estimates while including control variables that better objectively measure player performance. I …

Have American Income Stabilizers Become More Effective In Dealing With Income Shocks?, Louis Debellis

Economics Student Theses and Capstone Projects

Automatic stabilizers are at the basis of nation’s defense against shocks in their economies. Automatic stabilizers are mostly defined as elements of fiscal policy that mitigate output fluctuations without discretionary government action. During economic downturns aggregate demand decreases, government spending automatically increases, which raises aggregate demand and government revenue automatically, decreases. The goal of automatic stabilizers during a recession is to offset the decrease in aggregate demand. During economic booms government spending automatically decreases in order to prevent the formation bubbles in the economy. In short an automatic stabilizer is a budgetary policy that automatically (meaning without the need for …

The Cultural Shift Away From Opera Production In The United States, Samantha Hart

Economics Student Theses and Capstone Projects

Using data from the 2004-2015 opera house seasons in the United States and Germany, I use an ordinary least squares regression with demographic data and Google Trend search data to show that the decline of opera in the United States is due to a cultural shift in attitudes. Previously, there has been minimal empirical research done on this topic, indicating it is a topic worth considering. I find that the demographic data is surprisingly insignificant. More importantly, I find that the Google Trend search data is significant for Germany’s regression. These results suggest that there is no decline in the …

The Future Of The Euro: Assessing The Viability Of The Common Currency Through The Lens Of Classical Optimum Currency Area Theory, Richard L. Cappellazzo

Economics Student Theses and Capstone Projects

The Eurozone, it appears, is in a constant state of crisis. While other major economic players have mainly recovered from the 2008 Global Financial Crisis, the Eurozone as a whole seems to have never escaped the economic malaise caused by that dreadful event. Perhaps more startling is the divergence seen within the Eurozone itself, as a few relatively wealthier, healthier members such as Germany and Austria pull away from the larger pack of poorer, languishing ones, such as Greece and Portugal. A currency union should be effective and cohesive, yet the Eurozone has been largely ineffective and fragmented in handling …

The Effects Of Pirated Music On Individual Musicians, Mysha Didi

Economics Student Theses and Capstone Projects

What kind of effect does pirated music have on musicians? Illegal music file sharing has become a huge problem over the last 15 years for the music industry. While it claims to have lost billions of dollars because of the problem, it is unclear what kind of effects piracy has on an individual musician.

College Student Perceptions Toward Prosocial Consumers, Andrey Pertsov

Economics Student Theses and Capstone Projects

No abstract provided.

Crude Oil Transport By Rail In Ny State: Ecosystem Value At Risk, Caroline Hobbs

Economics Student Theses and Capstone Projects

The opportunity to write both a Capstone and a Thesis has provided me a unique opportunity to supplement what I’ve learned and what I hope to achieve in each discipline with the other. In my ES Capstone, I explore the decision-making processes of stakeholders in a local, risky, and hot topic area: crude oil transport by rail.

In my EC Thesis I address the same issue, but from a different angle. I use Robert Costanza's method of ecosystem valuation to value the ecosystem services in New York State via the benefit transfer method. I then predict the proportion of these …

Schooling Is Not Learning: A Case Study Of Kenya's Primary Education, Stella Langat

Economics Student Theses and Capstone Projects

The government of Kenya adopted Free Primary Education (FPE) in January 2003 with a main objective of this program is to provide education to all primary school children regardless of their economic backgrounds. Academic performance in Public Primary Schools in Kenya has been declining over time since the introduction of FPE. This research investigates the effective enrollment in the wake of FPE. A case study analysis is used which includes both primary and secondary sources of data. Primary data from Kenya National Bureau of Statistics between the years 2002-2014 and a survey conducted in March 2016. Secondary data sources include …

A Detailed Examination Of The Gender Wage Gap In United States, Zhongling Wang

Economics Student Theses and Capstone Projects

The purpose of this paper is to study the recent trend of the gender wage gap in United States and underlying reasons that cause the change. The data I use is from 2000 to 2014. I use OLS method to estimate the coefficients of variables and Oaxaca and Blinder decomposition method to study the gender wage gap. The research result shows that the gender wage gap in United States has a clear downward trend in this period. Also, I find that occupational segregation benefits women and reduces the gender wage gap. The sticky floor effect and glass ceiling effect both …

Marginal Revenue Product Of Four-Year College Basketball Players, Adele Mackey

Economics Student Theses and Capstone Projects

In this paper, I calculate the marginal revenue product of 30 four-year college basketball players in an attempt to add to the debate surrounding the payment of college athletes. I compare the MRP of each player to tuition costs to determine their lost earnings. Previous studies have provided evidence that college athletes make more money for their schools than they are being compensated for. My results are consistent with this. My model estimates that on average these 30 college basketball players are generating $2,059,970 in revenue over four seasons and their lost earnings are on average $1,975,918. Additional analysis shows …

Influence Of Parents Education And Income On An Individuals Decision To Become Self-Employed, Leonsdale A. Griffith

Economics Student Theses and Capstone Projects

This paper analyzes the variables that impact an individual’s decision to become self-employed, and primarily focuses on parent’s education and parent’s income. The research uses PSID data (from 2012), on the head of the household’s education, their parent’s income, their parent’s social status, their parent’s education, and parent’s industry. The variables are chosen based on the assumptions of the liquidity constraint theory (Evans, D. S., & Jovanovic, B. 1989), which states that individuals with more access to capital are likely to become self-employed. In addition, my research also analyses the composition of the sample to determine if PSID allows for …

Sports Sentiment And Energy Consumption, Lindsey Decker

Economics Student Theses and Capstone Projects

This paper adds to the existing literature on how mood, specifically induced by the outcome of a sporting event, influences other economic variables. Past research on the subject has found that losses tend to have a greater impact than wins. These findings are consistent with the loss aversion property of prospect theory. I look at NFL game outcomes in the Boston area, where a large portion of the population feels extremely passionately about their home team. This study examines how mood induced by NFL game outcomes impacts energy consumption, a dependent variable that has not yet been used in this …

Casino Effect Casinos, And What Effect Does It Have On Crime?, Steven Menezes

Economics Student Theses and Capstone Projects

The study examines the relationship between casinos and crime rate by using county data from different states in the USA and comparing data 5 years prior and 5 years after the opening of a casino. Casinos were only found in Nevada before 1978, but expanded to other states afterwards. Currently there are over 15,000 Casinos found in the U.S. Data was obtained through UCR, FRED, BEA. The study used multiple difference-in-difference regression models comparing the outcomes before and after the opening of a casino during the same span of time. Findings indicate that crime rate decreases when a casino is …

Salary Caps And Competitive Balance In The Nba, Cody Couture

Economics Student Theses and Capstone Projects

Following the 1998-99 NBA lockout, the league instituted a new collective bargaining agreement (CBA) that, among other things, set a cap on individual player salaries for the first time in a professional sports league. This paper examines how these changes affected competitive balance within the league. I find that, contrary to previous results, the 1999 CBA had no effect on parity within the NBA. Furthermore, I find evidence that as the NBA has opened its doors to international players, competition within the league has become more balanced.

Economic Globalization: A Study Of Foreign Direct Investment’S Impact On U.S. Wages, Peter Vahle

Economics Student Theses and Capstone Projects

The United States labor market is undergoing seismic changes as it becomes more intertwined with the global economy. But this reality is not unique to the United States; technological innovation and the globalization phenomenon are shaping a world that is more socially, politically, and economically integrated than ever before. The Merriam Webster dictionary defines globalization as “the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets.” The definition alone indicates that globalization capitalizes on international labor market inequities. The question immediately arises; is this a …

Effects Of Parental Education On Return To Education, Zhirou Shi

Economics Student Theses and Capstone Projects

Return to education is the rate of return to income with each additional year of schooling. This paper utilizes data from the Panel Study of Income Dynamics (PSID) in 2012 to examine return to education in the U.S. I use the Mincer earnings function (Mincer, 1974) as a basic model to evaluate the relationship between relationship between school and earnings. I augment this wage function with control variables including gender, region, family economic background, and job industry to decrease the influence from other factors on the relationship between income and schooling. Then, in order to eliminate ability bias in the …

A Comparison In The Returns To Skills On The European Tour And The Pga Tour, Timothy C. Manwaring

Economics Student Theses and Capstone Projects

This study uses 2015 data from the PGA Tour and the European Tour to analyze differences in the returns to shot making skills between these two top professional golf tours. As the European Tour grows to become a competitive alternative to the PGA Tour, a player will be faced with a decision of which tour to compete to maximize the economic payoff. A model similar to Shmanske (1992) was used to run OLS regressions and quantile regressions. The quantile regressions were used to determine differences in the returns across various points on the earnings distribution. The findings suggest that a …

Hedge Fund Activism And Short Term Price Impacts: From The Perspective Of Hedge Funds, Winston Cheung

Economics Student Theses and Capstone Projects

Hedge fund activism has been attracting more attention nowadays. On the 14th of March, 2016, two democratic senators introduced a bill “that would take aim at activist hedge funds and their ability to act together in “wolf packs” to overtake public companies” (Moyer, 2016). On 4th of April, 2016, the U.S. sues ValueAct, which is an activist hedge fund, by saying that “[it] violated Antitrust Law” (Picker, 2016). These are just few of the evidence showing that hedge fund activism is attracting more attention in both the financial and political realm nowadays. Hedge fund activism, defined as hedge funds using …