University economists traveled to Richmond Aug. 21 for a biannual conference with the Federal Reserve Bank of Richmond.
The conference began two years ago following years of informal partnership, with research economists at the Federal Reserve Bank frequently teaching classes at the University or co-authoring books with faculty members.
One undergraduate student entering the academic job market is invited to the conference, along with all graduate students and faculty in the Economics Department.
The partnership represents the decision of the University and the research department at Federal Reserve Bank to communicate better, Thomas A. Lubik from the Federal Reserve Bank of Richmond said.
Lubik, who is the vice president for microeconomics and research communications at the Federal Reserve Bank of Richmond, said the purpose of the conference is to keep each institution informed of the other’s research and hold discussion.
Because it is not a lecture, the conference provides students with the opportunity to experience a new side of economics, Economics Prof. Eric Young said.
“You’re going to be seeing a new production of economic science, as opposed to a lecture, when you’ll see stuff that’s backward looking,” Young said.
In addition, the symposium allows students to experience an academic conference on a smaller scale, with many familiar faces from the Federal Reserve Bank. The students get to see the research on which faculty members at the Federal Reserve Bank of Richmond are working, Young said.
“They get a chance to discuss with the economists at the Fed. in an informal setting what they are working on and to see what an academic conference looks like in a friendly environment,” Young said.
Lubik said the conference benefits University students and faculty along with the Federal Reserve Bank of Richmond, providing the opportunity to share new research in economics.
“It’s an exchange of ideas,” Lubik said. “The more ideas are exchanged, the better both institutions can function. It’s a dissemination of ideas. Two important institutions in central Virginia can learn from each other.”
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