Riding the Waves of the Global Economy
A Conference for High School Faculty
June 7–8, 2005
Federal Reserve Bank of Dallas

Date

• Tuesday, June 7, 2005
  8:30 a.m.– 3:15 p.m.
• Wednesday, June 8, 2005
  8:30 a.m.– 2:45 p.m.

Location

• Federal Reserve Bank of Dallas
  2200 N. Pearl St.
  Dallas, TX 75201

Agenda

Tuesday, June 7

8:30 a.m.		Continental Breakfast
8:50 a.m.		Welcome and Opening Remarks Gloria V. Brown Vice President Sherry L. Kiser Director of Economic Education
9:00 a.m.		Globalization: An Overview Jim Dolmas Senior Economist
9:45 a.m.		The U.S. Current Account Deficit Mark Wynne Vice President and Senior Economist
10:30 a.m.		Break
10:45 a.m.		Poverty in a Global Economy Darryl McLeod Associate Professor of Economics, Fordham University
11:45 a.m.		Domestic and International Market Orientation in Economic Development William C. Gruben Vice President and Director, Center for Latin American Economics
12:30 p.m.		Lunch Speaker: Richard W. Fisher President and Chief Executive Officer
1:30 p.m.		Technology in a Global Economy John South Director of Information Security, Alcatel North America
2:15 p.m.		Outsourcing’s Outlook: Outrage and Outlaw? Or Outwork and Outlast? Thomas F. Siems Senior Economist and Policy Advisor
3:00 p.m.		Summary and Adjourn
Wednesday, June 8
8:30 a.m.		Continental Breakfast
9:00 a.m.		World Energy Markets and the Economy Stephen P. A. Brown Director of Energy Economics and Microeconomic Policy Analysis
9:45 a.m.		World in Transition: Africa Scott Goodwin World Affairs Council of Greater Dallas
10:30 a.m.		Break
10:45 a.m.		W. Michael Cox Senior Vice President and Chief Economist China: Restructuring the World Economy
11:30 a.m.		European Economic Integration: A Conflict of Visions Jason Saving Senior Economist
12:15 p.m.		Lunch
1: 15 p.m.		Is China Eating Mexico’s Lunch? Erwan Quintin Senior Economist
2:00 p.m.		Financial Globalization: Manna or Menace? Ed Skelton Financial Analyst
2:45 p.m.		Wrap-up and Evaluation
3:00 p.m.		Bank Tour (Optional)

All speakers are from the Federal Reserve Bank of Dallas unless otherwise noted.

About the Speakers

Stephen P. A. Brown
Director of Energy Economics and Microeconomic Policy Analysis
Federal Reserve Bank of Dallas
Brown joined the Federal Reserve Bank of Dallas in 1981 after working as an energy economist for Brookhaven National Laboratory and teaching economics at several universities. He is currently an adjunct professor of economics at Southern Methodist University and Tulane University. Brown has authored numerous articles appearing in such publications as Economic Inquiry, Review of Regional Studies, Quarterly Review of Economics and Finance and The Energy Journal. Brown holds a B.S. in economics from California Polytechnic State University and an M.A. and a Ph.D. in economics from the University of Maryland.

W. Michael Cox
Senior Vice President and Chief Economist
Federal Reserve Bank of Dallas
Cox authors the Bank’s annual report essays on rising American living standards. He has been published in the Journal of Monetary Economics and the Review of Economics and Statistics, among others, and is coauthor of the book Myths of Rich and Poor. Cox is past president of the Association of Private Enterprise Education, a Cato Institute adjunct scholar and a National Center for Policy Analysis senior fellow. He has been a frequent guest on national radio and television, including CNN, Voice of America, National Public Radio and an ABC John Stossel program. He teaches economics at Southern Methodist University. Cox holds a B.A. from Hendrix College and a Ph.D. from Tulane University.

Jim Dolmas
Senior Economist
Federal Reserve Bank of Dallas
Dolmas’ main research interests lie in the field of macroeconomics, where he has worked on topics such as the effectiveness of stabilization policy, the costs associated with business cycles and the politico-economic determinants of inflation and immigration policy. Before coming to the Dallas Fed in 2000, he taught economics for seven years at Southern Methodist University. He has also taught at the University of Rochester and the University of Texas at Austin. Dolmas holds a Ph.D. in economics from the University of Rochester and a bachelor’s degree in economics from the University of Chicago.

Richard W. Fisher
President and CEO
Federal Reserve Bank of Dallas
Fisher assumed the office of president and CEO of the Federal Reserve Bank of Dallas on April 4, 2005. In this role, Fisher serves as a member of the Federal Open Market Committee, the Federal Reserve’s principal monetary policymaking group. Fisher is former vice chairman of Kissinger McLarty Associates, a strategic advisory firm chaired by former Secretary of State Henry Kissinger. He has had a distinguished career in both the private and public sectors. He spent a decade in the banking industry and two years with the Treasury Department. In 1987, he created Fisher Capital Management and a separate funds-management firm, Fisher Ewing Partners. As deputy U.S trade representative from 1997 to 2001, Fisher oversaw implementation of NAFTA and negotiated numerous trade agreements. He graduated from Harvard University in economics, read Latin American politics at Oxford and received an M.B.A. from Stanford University.

Scott Goodwin
World Affairs Council of Greater Dallas
Goodwin is K–12 social studies coordinator for the Grapevine/Colleyville Independent School District, where he has spent 18 years as a teacher, coach, sponsor and administrator. Goodwin teaches a variety of social studies content areas, including psychology, American history, government and law studies. He recently implemented an advanced placement course in human geography. Goodwin is trained in the use of World Affairs Council of Greater Dallas’ World in Transition instructional materials, which allows him to advance the understanding of geography and economics among GCISD students. He holds a B.S. in composite social studies education from Truman State University and an M.S. in educational administration from the University of North Texas.

William C. Gruben
Vice President and Director, Center for Latin American Economics
Federal Reserve Bank of Dallas
As senior international economist, Gruben focuses his research on international trade and capital flows, currency regimes and banking and how they apply to developing countries, particularly those of Latin America. He has published extensively on these topics in scholarly and technical journals, including Economics Letters, Cato Journal and Journal of Banking and Finance. Gruben has served on the economics faculty at Southern Methodist University and the International Management Studies faculty at the University of Texas at Dallas. He also worked as a research associate at the University of Texas at Austin’s Institute for Latin American Studies and its Center for Economic Development. Gruben holds a Ph.D. in economics from the University of Texas at Austin.

Darryl McLeod
Associate Professor of Economics
Fordham University
Before joining Fordham, McLeod was a research fellow for the Institute of Latin American Studies at the University of London’s School of Advanced Study. From 1998 to 2000, he worked for the consulting firm Global Insight as chief economist for Latin America. He was a consultant for the Inter- American Development Bank and Lehman Brothers Emerging Markets Group and founding member of the Latin American and Caribbean Economic Association, where he served as treasurer for six years. His work has been published in numerous professional publications, including the Journal for Development Economics, Economic Review, Quarterly Review of Economics and Finance, and Economic Letters. McLeod received B.S. and Ph.D. degrees from the University of California at Berkeley.

Erwan Quintin
Senior Economist
Federal Reserve Bank of Dallas
Quintin joined the Federal Reserve Bank of Dallas in September 2000. His research interests include growth and development economics, financial economics and macroeconomics, with an emphasis on Latin American issues. Quintin has taught economics at the University of Texas at Austin, University of Minnesota and St. Thomas Graduate School of Business. He also served as visiting scholar to the European Central Bank’s research department, where he studied financial convergence in the euro area. He holds an M.B.A. from Case Western Reserve University and a Ph.D. in economics from the University of Minnesota.

Jason L. Saving
Senior Economist
Federal Reserve Bank of Dallas
Saving joined the Federal Reserve Bank of Dallas in 1996, following a one-year postdoctoral fellowship at George Mason University’s Center for Study of Public Choice. As a senior economist at the Federal Reserve Bank of Dallas, Saving conducts research on such public policy issues as American welfare policy and legislative organization. His articles have appeared in Economic Inquiry, Southern Economic Journal, Public Choice and the Journal of Institutional and Theoretical Economics, among others. He is a member of the American Economic Association and the Public Choice Society. He holds a B.A. in mathematical economic analysis from Rice University and an M.A. and a Ph.D. in economics from California Institute of Technology.

Thomas F. Siems
Senior Economist and Policy Advisor
Federal Reserve Bank of Dallas
Siems began his career with the Federal Reserve in 1984. He is also a senior lecturer with the Engineering Management, Information and Systems Department in the School of Engineering at Southern Methodist University and an advisory board member of the Cato Institute’s Project on Social Security Choice. Siems has published more than 45 articles in such publications as the Journal of Money, Credit and Banking; European Journal of Political Economy; and Review of Financial Economics. Siems is a graduate of the Public Finance Institute at the University of Michigan and an alumnus of the Graduate School of Banking at Colorado. He earned a B.S.E. from the University of Michigan and an M.S. and a Ph.D. in operations research from Southern Methodist University.

Ed Skelton
International Financial Analyst
Federal Reserve Bank of Dallas
Skelton’s research at the Dallas Fed, where he has worked since 1996, focuses on the Mexican economy and financial system. This work supports the Federal Reserve’s supervision of foreign banks with offices in the United States. He is also an adjunct faculty member at Southern Methodist University, where he teaches economics and has received numerous awards for teaching excellence. Skelton received a B.B.A. in economics from Baylor University and an M.A. in economics from Southern Methodist University.

John South, CISSP
Director of Information Security and Information Systems Security Officer
Alcatel North America
South is responsible for the security of Alcatel computer systems and information throughout the United States, Canada and Latin America. He is also a program director and co-creator of the Information Assurance program at the University of Dallas. He is a Certified Information Systems Security Professional and is an advisory board member of the North Texas Electronic Crimes task force. He is a member of the High Technology Crime Investigators Association, Information Systems Security Association and IEEE Computer Society. South is also leading the University of Dallas K–12 Internet Safety Awareness Initiative that will roll out to North Texas area schools in August 2005. South received a bachelor’s degree from Purdue University and an M.B.A. from the University of Dallas.

Mark A. Wynne
Vice President and Senior Economist
Federal Reserve Bank of Dallas
Wynne’s primary research interests are in the fields of monetary economics and macroeconomics, and he has published in many leading professional journals. He has taught at the University of Rochester and Southern Methodist University and is an academic board member of the Open Republic Institute in Dublin. During 1997–98 Wynne worked on issues related to monetary policy strategy under economic and monetary union for the European Monetary Institute and, later, the European Central Bank. Wynne holds B.A. and M.A. degrees from the National University of Ireland (University College, Dublin) and an M.A. and a Ph.D. from the University of Rochester.