Decode Econ

This week, we explore economic research and career development with Ben Reynolds, the first Haile Fellow. Now a senior research analyst for the Council of State Governments, Ben's journey showcases the versatility of economics skills across industries. He emphasizes the importance of effective communication in research and the value of combining quantitative and qualitative methods.

Ben's experience pursuing a master's degree in economics at the University of Essex during the COVID-19 pandemic highlights the benefits of international education and building a global network. His advice to students: focus on personal connections and problem-solving skills – crucial for success in any economics-related career.

Chapters

00:00 Introduction

01:03The Haile Fellows Program and Ben's Experience

03:18 Building Connections and Learning Through Problem Solving

04:19 Advice for Fellow Students on Data Cleaning and Analysis

05:37 Having a Question and Applying Economics Skills

06:16 Leveraging the Fellowship for Internships

07:33 Transitioning to Work at Triad and Grad School

08:09 Translating Skills for New Internships

10:03 The Variety of Career Paths in Economics

12:10 The Importance of Communication in Research

14:01 Presenting Information for Different Audiences

15:26 The Fun and Variety of Ben's Current Role

16:36 The Impact of Local Policy and the American Rescue Plan Funding

19:15 Ben's Passion for History and its Synergy with Economics

21:02 The Role of History in Economics Research

22:05 The Importance of Quantitative and Qualitative Methods

24:59 Pursuing a Master's Degree in Economics Abroad

29:34 Challenges of Completing a Degree During COVID-19

33:39 Building Personal Connections and Problem-Solving Skills

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Today, we sit down with Becca Wilson, an NKU Haile College of Business alumna, former Haile Research Fellow, and current employee at 3CDC.

Key Takeaways:

• (03:10) Becca credits the Haile Fellows Program for opening up new career paths and opportunities she wouldn't have considered otherwise, like working in a nonprofit organization

  
  



• (10:24) Reflection is crucial for personal and professional growth; Becca suggests having verbal discussions to process reflections and share with others for support and guidance

  
  



• (20:47) Transitioning from college to a full-time job can be challenging, especially adjusting to a consistent work schedule and maintaining optimal brain function through proper sleep and nutrition

  
  



• (27:36) Building a strong support system and staying connected with peers who are going through similar experiences can help navigate the challenges of post-graduate life

  
  



• (32:26) When faced with multiple career options, prioritize moving forward and learning what you don't like; choose opportunities with managers who invest in your growth and development

  
  



• (39:15) Becca believes her future lies in academia but values her current experiences in the business world to develop her beliefs and collide with new ideas

  
  



• (48:49) Advice for current Haile Fellows: connect with alumni, be confident in your strengths, take on new opportunities even if you're unsure, and lean into your passions

  
  

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Guest: Brooklyn Stephens, NKU Economics alumna, former Haile Research Fellow, adjunct professor, and MBA graduate from the University of Kentucky

Key Takeaways:

• (05:28) Brooklyn shares her most memorable experience as a Haile Research Fellow, presenting at the Kentucky Economic Association conference amidst challenging personal circumstances  

• (07:57) The support and empathy from Dr. A during this difficult time greatly influenced Brooklyn's leadership style and teaching approach

• (12:35) Brooklyn's research experience enhanced critical thinking, communication, and presentation skills that have been invaluable in her career

• (14:54) Brooklyn and Dr. A collaborated on an international consulting project on financial literacy education after she graduated

• (17:17) Brooklyn's research paper from her time as a Haile Fellow was published in November 2023

• (22:04) Brooklyn chose to pursue an MBA at University of Kentucky to have a new experience at a larger school, but values her undergraduate experience at NKU

• (37:04) As an adjunct professor at NKU, Brooklyn taught ECO 309 (Data Tools for Economic Analysis) and inspired students like Brandon Hester to become curious and engaged learners  

• (45:07) Brooklyn advises students facing personal challenges to build connections with faculty early on and communicate openly about their situations

• (48:26) In your twenties, it's okay to break societal "rules" and expectations when following your passion; rely on your network and community for support during times of uncertainty

Discussion Topics: 

• (24:05) Navigating the decision between entering the workforce or pursuing graduate school after completing an undergraduate degree

• (26:26) The importance of having a supportive network and seeking out empathetic leaders  

• (29:53) Leveraging research experience for career opportunities and skill development

• (34:42) Sharing student stories to showcase the diverse experiences and successes at NKU

• (39:24) Balancing personal challenges with academic and professional responsibilities

• (41:42) Building relationships with professors and being open about personal circumstances affecting school  

• (50:42) Normalizing changing career paths and prioritizing personal well-being, even if it goes against conventional expectations

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In this episode of Economics with Dr. A, Dr. Abdullah Al Bahrani interviews Tyler Kent, a graduate from the class of 2019 and a former participant in the Haile Fellows Program. They discuss Tyler's experience in the program, its impact on his career, and his advice for current fellows. The conversation highlights the importance of experimentation, curiosity, and having fun in the learning process. Tyler emphasizes the value of research and developing skills such as coachability, critical thinking, and persistence. He also encourages fellows to be open to new opportunities, be vulnerable, and trust in the process.

Takeaways

• The Haile Fellows Program provides a valuable opportunity for students to engage in research, develop critical skills, and differentiate themselves in the job market.

  
  



• Being coachable, having a growth mindset, and persisting through challenges is essential for success in the program and beyond.

  
  



• Research experiences can lead to higher earnings and open up new career opportunities.

  
  



• Overcoming the fear of failure and vulnerability is key to personal and professional growth.

  
  



• Trusting others and being open to new opportunities can lead to unexpected and rewarding experiences.

  
  



• Long-term thinking and taking calculated risks can lead to personal and professional development.

  
  

Sound Bites

• "Being vulnerable is a good thing."

  
  



• "The camaraderie of the group was key to the program's success."

  
  



• "Research and writing a paper was instrumental in launching my career."

  
  

Chapters

• 00:00 Introduction and Welcoming Tyler Kent

  
  



• 03:00 The Value of Research and Developing Essential Skills

  
  



• 08:11 The Importance of Camaraderie and Trust

  
  



• 13:32 Research and Career Development

  
  



• 29:28 Trusting the Process and Seizing Opportunities

  
  



• 39:18 Advice for Current Fellows and Conclusion

  
  

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In this conversation, Dr. Abdullah Bahrani interviews Aro Rajaonah, a former Haile Fellow and a pre-doctoral research specialist at Princeton University. Aro shares his experience as a Haile Fellow and advises current fellows. He emphasizes the importance of coding skills, networking, and reading widely. Aro also discusses his plans, including applying to PhD programs. The conversation highlights the value of research and the opportunities it can create.
Takeaways
Develop coding skills and organize code effectively
Build a strong network of connections in the research community
Read widely and explore diverse topics
Focus on skills development and be open to new opportunities
Apply to as many research positions as possible to increase chances of success
Sound Bites
"Coding is a big part of my experience here right now."
"Networking was a great thing that the Haile Fellows Program helped me with."
"Focus on building skills: coding, reading, and research interests."
Chapters
00:00 Introduction and Background
03:08 Aro's Current Work at Princeton
08:49 Developing Curiosity and Intellectual Growth
11:22 The Impact of the Hale Fellows Program
24:08 Preparing for a Career in Research
31:36 Future Plans and Closing Remarks

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In this episode of Economics with Dr. A, we sit down with Sophia Hermosilla, a recent graduate of Thomas More University and a former fellow at the Zembrodt Center for Entrepreneurship and Innovation. Sophia shares her journey from Panama, her home country, to pursuing her undergraduate degree in the US. She has decided to continue her education with a graduate degree at George Washington University.

Key Takeaways:

• Sophia's passion for international relations and political science stems from her high school experiences with public speaking and campaigning as a youth deputy in Panama.

  
  



• The power of mentorship is evident in Sophia's relationship with Mrs. A, who has been a constant source of support, encouragement, and guidance.

  
  



• Asking questions and building connections are crucial for success in both academic and professional settings.

  
  



• Being true to oneself and embracing vulnerability is key when applying to graduate school and navigating new challenges.

  
  



• Maintaining a strong network, such as the one Sophia has built with her fellow students and mentors, is essential for personal growth and success.

  
  

Sophia's story is about determination, passion, and the importance of surrounding oneself with supportive mentors and peers. As she embarks on her graduate school journey at George Washington University, she carries the lessons learned and connections made during her time at Thomas More University.

Chapters 

00:00:00 - Introduction

00:02:08 - Sophia's journey to Thomas More University

00:04:32 - Sophia's choice of major and passion for international relations

00:06:54 - Sophia's driven and motivated nature

00:09:17 - The power of asking questions and seeking help

00:12:23 - Sophia's most prideful moment of the year

00:14:47 - The importance of Mrs. A's mentorship

00:17:12 - Sophia's connection with Mrs. A and the safe space she provides

00:19:14 - The importance of building connections and asking questions

00:21:16 - Sophia's dependability and initiative

00:23:28 - The decision to pursue a graduate degree

00:25:53 - Applying to graduate school and being true to oneself

00:27:57 - Sophia's choice of graduate school and excitement for the future

00:30:16 - Transitioning from a small community to a large one

00:32:40 - The importance of leaning on a network during challenging times

00:34:53 - The impact of fellow students on Sophia's journey

00:37:18 - Dr. A's parting words for Sophia

00:37:50 - Mrs. A's parting words for Sophia

00:40:15 - Conclusion and upcoming episodes

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Summary

In this powerful episode, Dr. Abdullah Al Bahrani sits down with Mrs. Jeni Al Bahrani and Erin Preston, a graduating senior at Thomas More University, to discuss Erin's experience as a fellow at the Zembrodt Center for Entrepreneurship and Innovation.

The main themes include professional development, mentorship, and the importance of community. Erin shares her journey of initially hesitating to join the program but eventually embracing it and finding success. The conversation also highlights the impact of mentorship and the power of taking on uncomfortable opportunities for personal growth. Erin discusses her job search process and the role of personal relationships in finding employment. 

• 00:00 Introduction to the Zembrodt Center and its focus

  
  



• 03:13 Professional Development and Mentorship at the Center

  
  



• 09:09 Embracing Uncomfortable Opportunities for Growth

  
  



• 13:06 The Power of Personal Relationships in Finding Employment

  
  



• 26:46 Education is About Relationships

  
  



• 35:26 Expressing Gratitude and Conclusion

  
  

1. The fellowship program focuses on professional development and mentorship, with fellows learning to be both mentees and mentors.

2. Despite initial fears and uncertainty, Erin chose to join the fellowship program, which she describes as her favorite experience at Thomas More.

3. Erin emphasizes the importance of being true to oneself and using role models as inspiration rather than trying to emulate them.

4. Mrs. A highlights the mutual benefits of the mentor-mentee relationship, noting how much she has learned and grown from working with Erin and the other fellows.

5. Erin's most proud moment was representing Thomas More at a panel discussion on entrepreneurship programs, where she overcame her nerves to articulate the value of the fellowship program.

6. The power of relationships and community is a central theme. Erin secured her post-graduation job through her connection with Mrs. A and her involvement in the local business community.

7. Dr. A and Mrs. A express their pride in Erin's growth and willingness to embrace discomfort for personal and professional development.

ChaptersTakeaways

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Dr. Abdullah Al Bahrani welcomes Grace McConn, a graduating Haile Fellow, to reflect on her experience in the program. Grace is the commencement speaker for her upcoming graduation and a Haile Fellow. We discuss the five things she learned while working as a Haile Fellow. 

5 Key Things Grace Learned as a Haile Fellow:

1. The Power of Community (04:23)

2. Teaching and Being a Professor (13:45)

3. The Power of Storytelling (17:12) 

4. The Power of Reflection (22:30)

5. Adding Value to the Team (28:38)

Advice for New Fellows (35:28)

Conclusion (37:20)

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Episode Description: In this episode, Dr. A delves into the troubling trend of the declining share of income allocated to American workers, despite their increasing productivity and output. The discussion explores the factors contributing to this decline, including globalization, the decline in union membership, and the growing automation of jobs. Dr. A also examines the recent groundbreaking decision by the Federal Trade Commission (FTC) to ban noncompete clauses and its potential impact on workers, businesses, and innovation. Join us as we navigate the complex economic realities and discuss the path forward towards a more equitable distribution of growth and prosperity.

Key Takeaways:

1. The share of income allocated to U.S. workers has significantly decreased since 1947, from two-thirds to just over half, despite increased productivity.


2. Globalization and the decline in union membership have contributed to the shrinking share of income for American workers.


3. The growing automation of jobs, observed since the 1980s, has further eroded the portion of income allocated to workers.


4. While the slice of the economic pie for workers is shrinking, the overall size of the U.S. economy is expanding, presenting a complex economic reality.


5. The FTC's recent decision to ban noncompete clauses marks a significant victory for workers' rights and has the potential to spur business formation, increase worker earnings, lower healthcare costs, and drive innovation.

Topics Covered:

1. Declining share of income for American workers


2. Globalization and outsourcing


3. Union membership and collective bargaining


4. Automation and its impact on the workforce


5. FTC ruling on noncompete clauses


6. Equitable distribution of economic growth and prosperity

Episode Outline:

1. Introduction (1-2 minutes)


2. The declining share of income trend (3-4 minutes)


3. Factors contributing to the decline (6-8 minutes)


4. The shrinking slice of a growing economic pie (2-3 minutes)


5. The FTC's groundbreaking ruling on noncompete clauses (4-5 minutes)


6. Navigating the path forward (2-3 minutes)


7. Conclusion and key takeaways (1-2 minutes)

Calls to Action:

1. Stay engaged with the critical issues surrounding the declining share of income and the future of work.


2. Analyze the forthcoming data and insights from the Bureau of Labor Statistics.


3. Please share your thoughts, questions, and perspectives on the economics of our world with Dr. A and the community.

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1. Embrace Exploration: Refrain from rushing into major life decisions such as buying a home or pursuing graduate school immediately after graduation. Instead, focus on building diverse experiences and exploring various career paths to find the best fit for you.

   
   



2. Leverage Your Economics Degree: An economics degree is highly versatile and opens doors to various job opportunities across different industries. Please don't limit yourself to working solely in your field of study; you can explore how your skills can be applied in various contexts.

   
   



3. Harness the Power of Networking: Building relationships and helping others is crucial for career success. You can engage in networking opportunities, both in-person and online, to expand your professional circle and create valuable connections that can lead to future opportunities.

   
   



4. Negotiate Your Worth: Don't hesitate to negotiate when receiving a job offer. Research market rates for your role and consider your qualifications to ensure you're fairly compensated. To remind you, negotiation is a typical and expected part of the hiring process.

   
   



5. Seize Opportunities in a Strong Job Market: The current job market for college graduates is robust, with plenty of opportunities available. You can take advantage of this favorable climate by actively looking out and applying for positions that align with your interests and goals.

   
   



6. Make Informed Financial Decisions: As you enter the workforce, educate yourself on important financial matters such as insurance, retirement plans, and budgeting. Seek guidance from trusted sources and utilize available resources to make sound financial choices.

   
   

   
   

   
   

   Chapters

   
   

   00:00 Introduction and Congratulations to Graduates

   
   

   04:23 The Versatility of an Economics Degree

   
   

   09:02 The Power of Networking

   
   

   13:08 Negotiating Job Offers

   
   

   22:08 Transitioning from College to the Real World

   
   

   
   
   

   
   

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