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St. Cloud State University
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Winter event to educate
By Scott Bushee
Published:
Monday, February 17, 2003
One of the most pressing concerns facing college students is whether they will get a good job after graduation.
Fortunately for students who seek to educate themselves about the state of the local and national economy, the SCSU Center for Economic Education is sponsoring the 41st Annual Winter Institute this week.
The events start at 5 p.m. Thursday evening with the 9th annual Economic Outlook. This will take place at the St. Cloud Civic Center. Speakers will include Dan Laufenberg, the chief domestic economist for American Express Financial Advisors, Thomas Stinson, Minnesota state economist, and SCSU' s own economics professor, Mark Partridge.
"The adding of the Economic Outlook gives the local business community a chance to hear economic projections from the most influential economists in Minnesota," said King Banaian, chair of the SCSU department of economics.
The Economic Outlook also gives the public an opportunity to listen to the state economist talk about the state budget.
According to Rich MacDonald, director of the SCSU Center for Economic Education, he is, more than any other person, responsible for the state revenue forecast, which forms the basis for the state budget deficit deliberations that are being considered by elected representatives in St. Paul.
"This will be a great way for students to get involved in decisions that affect their lives," said MacDonald "Especially since one week after he is here he will be releasing very important numbers that will affect all of our plans here at SCSU, including potential tuition increases."
The next morning will feature two other speakers and a panel discussion on the regional workforce in 2010. Keynote speaker Ben S. Bernanke, one of the members of the board of governors of the Federal Reserve System will get things started at 9 a.m.
Bernanke will be giving a presentation entitled "Balance Sheets and the Recovery."
As a member of the Federal Reserve Board, Bernanke helps Alan Greenspan set the national monetary policy.
The monetary policy is crucial to the health of the economy. By buying and selling bonds through its Federal Open Market Committee, the Federal Reserve can both alter interest rates and change the amount of money in the economy. Mainstream economic theory shows that this can be a tight rope to walk.
While lower interest rates and increased money supply function like a shot in the arm to the economy in the short term, if maintained, this policy can lead to that dreaded disease of the 70s, inflation.
Following Bernanke will be Harold L. Hodgkinson, the co-director of the Center for Demographic Policy.
Hodgkinson will be delivering a speech entitled "Demographics is Destiny."
"We have always had big names on the program," MacDonald said. "So when we try to recruit speakers to come to St. Cloud in February, our biggest advantage is to show potential speakers such names as Alan Greenspan, Milton Friedman, Paul Samuelson and Gary Becker."
All four economists have received Nobel Prizes.
After Hodgkinson's presentation will be a panel discussion about the Regional Workforce in 2010. Three panelists featured will be: U.S. Representative Mark Kennedy (6th District, MN), John Frobenius, the Retired President/CEO of St. Cloud Hospital & CentraCare Health Systems and Peggy Brown, the Human Resources Director for Gold N Plump. St. Cloud Area Chamber of Commerce Teresa Bohen will moderate.
The Winter Institute is co-sponsored by SCSU Student Government and all sessions are free to SCSU students.
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