{Modern Teaching Portfolio.}

"Numerous are the academic chairs, but rare are wise and noble teachers. Numerous and large are the lecture halls, but far from numerous the young men who genuinely thirst for truth and justice. Numerous are the wares that nature produces by the dozen, but her choice products are few." --Albert Einstein

[> Recent Teaching (Fall 2017 to Date at Northern Illinois University).

***Predicted Season Runs=-19.86+1.2*(HR)+0.78*(3B)+0.53*(2B)+0.25*(1B)+0.25*(BB+HBP)+0.16*(SB)-0.38*(CS).

***Predicted Season Win Percentage=1/(1+(Runs Scored/Runs Allowed)^-1.84).

*** Bill James Runs Created=(H+BB-CS)*(TB+0.7*SB)/(AB+BB+CS).

*** wOBA=1.7*(HR/TPA)+1.41*(3B/TPA)+0.99*(2B/TPA)+0.75*(1B/TPA)+0.59*(BB/TPA)+0.57*(HBP/TPA).

# The application of microeconomic analysis to the understanding of the market for professional and amateur sports. Topics include the industrial organization of sports markets, competitive balance in sports, public finance of sports facilities, sports labor markets, and amateur & college sports (3 Credits). Prerequisites: ECON 260 or consent of the Economics department.

    • Sample of Topics on the Industrial Organization of Sports Markets: {Profit-Maximizing and Win-Maximizing Teams; Partial Equilibrium Analysis of a Pro Sports League; Monopolistic Behavior of Sports Franchises; Ticket Pricing and Price Elasticity Studies; Analysis of Consumer Surplus and Deadweight Loss in Sports Markets; Variable Pricing, Price Discrimination, & Market Segmentation; All-Or-Nothing Monopoly Behavior; Game-Theoretic Issues in Pro Sports; Monopsony in Sports Labor Markets; Historical Antitrust Issues in the United States.} [Market Segmentation Spreadsheet Model] [Monopsony Spreadsheet]

    • Sample of Topics on Competitive Balance & Inequality: {Within-Season vs. Across-Season Competitive Balance; Standard Deviation of League Win Percentage (SDWP); Mean Absolute Deviation (MAD) of Win Percentage; Empirical Dispersion of Wins & Championships; Binomial Model of a Pro Season; Idealized SDWP and the Noll-Scully Ratio; Herfindahl-Hirschman Index (HHI) of Resource Concentration; Lorenz Curves and Geometric Depictions of Inequality; Sample Entropy of a Resource Distribution; Excel® VBA Add-In for Analyzing Economic Inequality; League Policies & the Promotion of Competitive Balance: Revenue Sharing, Salary Caps, Luxury Taxes, and Reverse-Order Drafts.} [NFL Gate Sharing Simulator]

    • General Equilibrium of a Pro Sports League: {Two-City Equilibrium Model of a Professional League; Algebraic Characterization of Equilibrium; Geometric Depiction of Equilibrium; Spreadsheet Implementations of the Two-City Model; Intuitive Meaning of the Two-City Equilibrium; Free Agency & Equilibrium Player Salaries; Competitive Imbalances as a Natural Consequence of Differing City Size; Aggregate Demand for Win Percentage & Market Equilibrium in a Large League; Heterogeneous Agents: Pro Leagues With a Mixture of Profit-Maximizers and Win Maximizers; General Equilibrium Under Gate Sharing and Salary Caps.} [Two-City Equilibrium Model]

    • Sample of Topics on Sports Analytics & Sabermetrics: {The Pythagorean Theorem of Baseball; In-Sample vs. Out-of-Sample Prediction Errors; Measurement of Predictive Performance: RMSE, MAD, and Worst Absolute Residual; Nonlinear Regression Analysis & Modified Pythagorean Expectation; Transformation to a Log-Linear Model; Empirical Estimation of Elasticities in Economics; Pythagorean Expectation in Other Pro Sports; Pythagorean Luck; Linear Models of Win Percentage: Point & Run Differential; Basic Nomenclature for Baseball Statistics & Data; Bill James' Runs Created Formulas; Linear Weights Formulas for Offensive Production in MLB; Estimation of Weighted On-Base Average (wOBA) Formulas; On-Base Plus Slugging (OPS) and its Generalizations; Correlation Analysis of Offensive Statistics; Sabermetric Player Comparison & Valuation; The Stolen Base Decision; Base-Out States: the Baseball Inning as a Markov Decision Process (MDP); Analysis of Sports Time Series; Serial Correlation & Regression to the Mean.} [Moneyball Runs Created Formulas] [MLB Expected Run Matrix] [Stolen Base Simulator] [On Base Plus Slugging ] [Run Diff in MLB] [The Best Exponent in MLB]

    • Topics on Sport Finance (Public & Private): {Present Value Analysis of Cash Flow Streams; Model Horizon (Finite or Infinite) and Scrappage Value; Numerical Examples; Review of Geometric Series; General Discussion of Annuities and Perpetuities; Adjusting for Revenue Growth, Inflation, and Taxes; Practical Valuation of Pro Sports Franchises; Sensitivity to Assumptions: Conservative Lower & Upper Bounds on Franchise Value. Economic Impact of New Facilities: Ripple Effects and the Money Multiplier; Positive and Negative Externalities of Pro Sports Teams; Stadium Quality and the Demand for Win Percentage; Logrolling and the Politics of Sport Finance.} [Money Multiplier Spreadsheet]

    • Core Textbooks & References: {The Economics of Sports, by Michael A. Leeds and Peter von Allmen; Sports Economics, by Roger D. Blair; Analytic Methods in Sports, by Thomas A. Severini; Pay Dirt: The Business of Professional Team Sports, by James Quirk and Rodney D. Fort; Mathletics: How Gamblers, Managers, and Sports Enthusiasts Use Mathematics in Baseball, Basketball, and Football, by Wayne L. Winston; Sports Math: An Introductory Course in the Mathematics of Sports Science and Sports Analytics, by Roland B. Minton.}

    • Some Fundamental Datasets: {MLB Offensive Dataset; NBA Point Scoring and Win-Loss Data; NFL Point Scoring and Win-Loss Data.}

  • ECON 647: Optimal Portfolio Choice Using MATLAB® and Excel® VBA (Fall 2021, Spring 2019). [Mean-Variance Spreadsheet] [Maple® Worksheet on Risk Parity Portfolios]

# A survey in discrete and continuous time using analytical and numerical techniques. Topics include dynamic programming, martingale methods, robustness, and the Malliavin calculus (3 Credits). Prerequisites: CSCI 501 and ECON 591, or consent of the Economics department.

# High-performance computational methods for high-frequency and algorithmic trading. Topics include a review of available high-performance optimization hardware and software, machine learning, high-frequency market microstructure and models of financial markets, real-time dynamic optimization, robotic trading algorithms, agent-based models, arbitrage strategies, and automated textual analysis (3 Credits). Prerequisites: ECON 647 and CSCI 501, or consent of the Economics department.

# Exposition of economic price theory and resource allocation; commodity and factor price and output determination (3 Credits). Prerequisite: ECON 260.

    • Consumer Theory Topics: {Mathematical Reviews; The Market; Consumer Preference Relations; Axioms of Consumer Theory; Inducement of Preferences via Utility Functions; Budget Sets; Optimal Consumer Choice; Consumer Demand; Aggregation of Consumer Demand; Hints About Higher-Dimensional Commodity Spaces; Market Equilibrium; Pure Exchange Economies; Edgeworth Box Economies; Edgeworth Cubes and Hypercubes; Pareto Efficiency & Contract Curves; Walras' Law; General Walrasian Equilibrium & the Fundamental Welfare Theorems; Numerical Examples; Exact Formulas for Equilibria of Cobb-Douglas Economies.} [Contract Curve Illustration]

    • Producer Theory Topics: {Production Functions & the Factors of Production; Theory of the Competitive Firm; The Profit Maximization Hypothesis; Cost Minimization; Cost and Supply Curves; Aggregate Supply; Short-Run Cost and Supply Curves; Long-Run Equilibrium With Free Entry & Exit; Monopoly Behavior & Price Elasticity Studies.} [Monopoly With Quadratic Marginal Cost]

    • Topics in the Theory of Games & Economic Behavior: {Classical Oligopoly Games with Infinite Strategy Sets: Cournot, Bertrand, and Stackelberg Competition; Matrix Games; Strategic Dominance in Simultaneous Move Games; 3-Player and n-Player Games in Normal Form; Best Responses & Pure Strategy Nash Equilibria (PSNE); Mixed Strategies & MSNE; Computation of Equilibrium Points; Nash Existence Theorem; Von Neumann's Minimax Theorem; Backward Induction in Extensive-Form Games; Practical Modelling & Applications of the Theory.} [Stackelberg Leader-Follower]

    • Key Reference for Microeconomic Theory: {Intermediate Microeconomics: A Modern Approach, by Hal R. Varian.}

    • Core References for Excel® & VBA: {A Guide to Microsoft Excel® 2007 for Scientists and Engineers, by Bernard V. Liengme; Excel® VBA in Easy Steps, by Ed Robinson; Brilliant Excel® VBA Programming, by Curtis Frye.}

  • ECON 691: Research Tools for Economists (Team-Taught; Fall 2021, Fall 2020, Fall 2019; Symbolic and Semi-Numerical Economic Computations in Maple®). [Linear Algebra Worksheet] [Differential & Integral Calculus in Maple®]

# Introduction for graduate students in economics to the software applications, programming, and basic computational techniques needed to be productive researchers in economics. (3 Credits).

# Analysis of societal issues in an economic framework; use of library, internet, and computer resources to conduct research; and organizing and writing an effective research paper. Students write a substantial research paper on a topic of their choice and present their findings to the class (3 Credits). Prerequisites: economics majors must have completed the required non-elective courses prior to enrolling.

[> Past Teaching Experience (Fall 2012-Spring 2017 at The University of Minnesota).

  • ECON 4261: Introduction to Econometrics.

  • ECON 4211: Principles of Econometrics.

  • ECON 3951: Major Project Seminar.

  • ECON 3101: Intermediate Microeconomics.

  • ECON 1102: Principles of Macroeconomics.

  • ECON 1101: Principles of Microeconomics.