Economics

Jacquelyn Martin / AP

Pittsburgh macroeconomist Marvin Goodfriend is still awaiting official Senate confirmation this week to help lead the nation's central banking system.

CMU Economics Prof Grilled By Democrats During Fed Confirmation Hearing

Jan 23, 2018
Jacquelyn Martin / AP

Federal Reserve board nominee Marvin Goodfriend said Tuesday he supports the Fed's political independence and its dual goals of achieving stable prices and low unemployment. But those assurances did not seem to satisfy Democrats who say Goodfriend's past policy positions are at odds with his current views.

Goodfriend, an economics professor at Carnegie Mellon University, faced tough questioning from Democrats on the Senate Banking Committee during his confirmation hearing. He won the backing of Republicans who spoke favorably of his conservative views.

North Dakota Department of Agriculture via AP

The number of acres permitted to grow industrial hemp in Pennsylvania is going to increase 100-fold in 2018, from less than 50 to possibly more than 5,000.

dnesday, Sept. 27, 2017, in Seattle.
Elaine Thompson / AP

Amazon benefited from more than $1.2 billion in incentives across the country, according to research published Wednesday by American City Business Journals

The company employs an estimated 10,000 people across 15 facilities in Pennsylvania, drawing nearly $25 million in known subsidies statewide. Bids for Amazon’s second North American headquarters HQ2 are due next week.

401 (K) / flickr

For low-to-moderate income families, tax season can be a confusing and intimidating time.

Clyde Robinson / Flickr

Music can soothe you, make you cry, get you pumped up for a workout, or make you tap your feet. And to Brian O’Roark, professor of economics at Robert Morris University, music is also a great way teach economics.

For his efforts, O’Roark was recently recognized by the Middle Atlantic Association of Colleges of Business Administration, which bestowed upon him an Undergraduate Teaching Innovation Award.

O’Roark says that his interest in using music to teach was inspired, in part, by the 1990s VH1 music video series “Pop-Up Video,” which showed music videos and added jokes and anecdotes about the artist in pop-up text that would flash on the screen.

He realized that this combination of music with storytelling could also be used in teaching.

Why the Low Gas Prices?

Jan 20, 2015
Wisconsin Department of Natural Resources / Flickr

The word “staycation” seemed to enter the lexicon when gas prices were continually on the rise a few years back. Now, to the delight of consumers, gas prices are on the decline, and genuine vacations may be back in vogue.

Joining us for a look at how this is impacting the nation is Robert Morris University Economics Professor Brian O’Roark.

Pittsburgh and Detroit: A Tale of Two Cities

Aug 1, 2013
Dave Rezendes/Flickr

Since the beginning of the great recession, Pittsburgh has often been touted as a shining symbol of economic recovery in the rust belt, while Detroit has become the poster-child of nearly apocalyptic economic strife. So what has allowed the Steel City to thrive while the Motor City has stalled? According to Antony Davies, an Associate Professor of Economics at Duquesne University, the answer lies in the two city’s differing approaches to the collapse of their largest industries.

He notes that while Pittsburgh weathered the painful collapse of the steel industry without support, “when Detroit fell on hard times, it turned to the federal government.”

Don't Count The Big D Out Yet!

Aug 1, 2013
Kate Sumbler/Flickr

While the recent media cycle on Detroit’s bankruptcy often reads like a eulogy to one of America’s great industrial boomtowns, Richard C. Harwood, who heads the Harwood Institute for Public Innovation, sees signs of life. Harwood points to a number of positive signs in the city, including companies moving downtown, building renovations and venture capital funds being formed.

All of these improvements “are pockets of change that suggest that a new path forward can emerge.”