This past meeting focused on changes to the Econ club's leadership, direction, and tutoring system. A new Vice President has been elected, Joshua Pejsach, as well as a new treasurer, Chris Schmidt. For their contact information, see the About page.
The Economics Club has traditionally done tutoring for the department's undergraduate students free of charge. We are continuing to do so but are in need of volunteers capable of tutoring ECON 2000 (microeconomics), ECON 2010 (macroeconomics), and ECON 2035 (money & banking). If you are interested in tutoring these subjects, please contact an officer of the economics club as soon as possible.
Finally, we are looking to schedule new guest speakers for future club meetings. A number of people have been suggested so far, but we are still seeking further suggestions. If you or someone you know may be able to speak with us on any financial or economics topic (from geological and development economics to game theory and investing) , please contact us.

Our next meeting will be held Friday, March 17 at 3:30 in CEBA 1111. Click here to see a full list of meeting times. All students whose declared major through PAWS is Economics (BA or BS) will receive a reminder meeting about the e-mail. If you are listed as another major and would like a reminder, please let us know.

Welcome to the new club site. Along with new meeting dates, contact information for the officers is now available. Pay attention to this site for any changes related to meetings or officers. Below are the meeting dates for Sping 2006:

Former CEO of Community Coffee, K. Randall Russ, visited in November to offer club members an opportunity to hear first-hand accounts of applied economics. Topics varied, but focused heavily on hedge funds and forecasting models.
Intimately aquatinted with the coffee market, Mr. Russ noted the problem he faced with volatile coffee futures on the London, Brazil, and New York stock exchanges. The solution his firm sought was multi-pronged and intensive, involving a process of hedge funds, individual contracts, and the use of forecast models. He brought to students a moment to reflect upon the role of economics in smaller-scale business, far outside the traditional roles of investment banking and Fortune-500 firms.
After a student's mention of the new Community brand packaging, our discussion led to price-elasticity marketing. He relayed to us that his company had changed the packaging to capture a portion of the younger demographic. The challenge was to still maintain their long-time local customers. Community is, after all, a dedicated local brand. The most balanced design in terms of both innovation and compatibility came at a cost, however. There is always a fear in business that passing additional costs to old consumers can lead them to seek alternatives. More difficult to judge was the contest of ensuring that an increased price would not deter the new customers Community was after. At the end of the day, a first-year business or economics student could see the value of applying the principles of price elasticity.
Elasticity struck again, this time being used to form a regional pricing strategy. In short, Mr. Russ was able to find a balance in lowering the price of Community Coffee in areas where there a loyal customer base had not yet been formed, increase the price locally to manage operating costs, and also please the demands of equal pricing with larger retailers.