University Economics Prof. Bruce Reynolds characterized it as a "phoenix risen from the ashes." Unfortunately, he did not mean the U.S. economy -- instead, he was referring to the Economics Club.
"Two years ago, the Econ Club was a president and a box of T-shirts," Reynolds said.
But, for the first time in 17 years, the Economics Club, now with a complete executive board and a membership encompassing more than clothing, held a dinner in the Rotunda for graduating fourth-year Economics majors.
The dinner, held last Wednesday, featured a speech by University alumnus Mark Plant, an adjunct professor who teaches a class on economic development about once a year at the University. His full-time job, however, is on the International Monetary Fund's policy committee.
Plant's post at the IMF "is one of the really core, top spots for an economist," Reynolds said. "He also happens to be a good lecturer -- the kids seem to love him."
Plant has firsthand experience with developing economies, as well; he spent 15 years in Africa helping countries build their economies and strengthen their policies.
But he never meant to spend more than a decade and a half in Africa. In fact, some of Plant's life-shaping decisions happened by accident.
Having grown up in Michigan, Plant said he did not intend to attend the University, but on a weekend trip to Monticello, he changed his mind.
"I fell in love with the place, and I thought, 'This is where I want to go,'" he said during his speech.
After graduating with degrees in economics and mathematics, he also did not intend to work in Africa. Thanks to a few French classes taken at the University, however, he was placed in Africa and, he noted, "fell in love" with that continent as well.
Throughout his years in Africa, Plant said he learned three economic lessons: the importance of reducing poverty as a means for growth, the essentiality of a non-corrupt government and the value of financial prudence.
Plant relied on another American with experience in developing countries to help structure his speech: Thomas Jefferson. For each of his three tenets, Plant relayed an applicable Jeffersonian quote that demonstrated another one of his arguments.
"The first thing you learn at U.Va. from the first day you're here is that no matter how wise and worldly a thought can be had, Thomas Jefferson already had it," he said.
Although Plant was speaking to a room of economics majors, he was also speaking to a room of students with only two months left at the University, and he tailored his speech to match.
By tweaking the three economic lessons he learned in Africa, Plant offered advice for new graduates, pointing out that they will all graduate with riches that can be used to eliminate poverty.
"You will all start rich, with the richness of a U.Va. education," he said. "Use that richness and spend it. Spend it on the parts of the world that don't have it."
Next, instead of thinking egocentrically and tyrannically, as a corrupt government would, Plant urged students to seek to leave something behind that will still work when they leave.
Finally, he cautioned students to be prudent, but not in the normal sense of the word.
"By being prudent I don't mean be a prude in any way," Plant said. "Diversify a bit in knowledge. Allow accidents to happen to you. Those things work together very well."
During the dinner, the Economics Club also presented Asst. Economics Prof. Sanjay Jain with an award commemorating his teaching skills. Fourth-year College student Bobby Corrigan, who presented the award, said Jain is best remembered for his personality and attitude toward students, especially his dry wit.
Corrigan related Jain's own advice for graduates-to-be during his presentation in what he called a "prisoner's dilemma for life."
Using "hard," "soft," "head" and "heart" as variables, Jain encouraged students to fall into the "hard head, soft heart" category, Corrigan said. Although Jain had provided examples of historical figures who fit that category, Corrigan said he forgot one person.
"He failed to mention himself," Corrigan said.
After he received the award, Jain said he had no idea he was going to be honored.
"I feel like it's Oscar night, but I didn't know I was nominated," Jain said.
Economics Club President Katie Meyer said the award was not institutionalized, but the overwhelmingly positive response from Jain's former students led the club to honor him.
Positive reactions to the dinner also abounded. Fourth-year College student Juan Kassar praised the food and wine, while others complimented Plant's speech.
Fourth-year College student Ben Matherne said he enjoyed how Plant shifted "his experience with Africa into advice for students who are graduating."
After dinner, Meyer was also surrounded with thanks for organizing the dinner.
"We were thrilled to be able to do this," she said. "A lot of people said they'd never been to a Rotunda dinner, so it was good, especially for the fourth-years."
She said Reynolds was the mind behind the club's rejuvenation -- he sent out e-mails encouraging students to reactivate the club.
Regardless of who led the way, Reynolds said he was glad to see the club energetic again.
"I applaud this as a kind of renaissance of the activity of the Economics Club," Reynolds said.
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