Scholarships and fellowship awards: $68,000
5-year increase in degrees awarded: 80% (through 2017)
24 Credit-bearing internships in 2017-18
Diverse faculty:
9 countries of national origin
5-year enrollment growth: 22% (through 2017)
Number of students: 776
Students completing an internship of any kind by graduation: 47%
Increase in number of full-time faculty over the past 5 years:
33 %
The School of Economics and Business (SEB) recently completed the Continuous Improvement Review process to extend accreditation from the Association to Advance Collegiate Schools of Business (AACSB International) to maintain its place among the best business schools in the world. AACSB accreditation is considered the hallmark of excellence in business education. The SEB earned Initial Accreditation status in 2011. Schools that have attained accreditation are reviewed every five years through an intensive, rigorous peer evaluation. The AACSB Board of Directors’ ratification of the extension of accreditation in April speaks volumes about our School’s focus on excellence in teaching, research, curricula development, and student learning.
It is truly a pleasure to report on the SEB’s continuation of its business accreditation and the achievements of our students, faculty, and staff. These groups as well as the members of our student clubs, Beta Gamma Sigma Honor Society, Business Advisory Council, and Student Advisory Council have demonstrated their dedication to the process of continuous improvement. The SEB is also grateful for the institutional support provided for accreditation.
The SEB’s previous marks of achievement continued this year while striving for new areas of innovation and distinction. This edition of the newsletter brings our readers up-to-date on the many fine accomplishments of our students and faculty. These include SEB’s chapter of the Beta Gamma Sigma (BGS) international honor society for business programs receiving public recognition again as a “Highest Honors Chapter;” our Fed Challenge Team taking third place in the Second Federal Reserve District Liberty Street Division; a SUNY Chancellor’s Award going to one of the SEB’s top students; and several awards earned by faculty.
Throughout this edition of the newsletter, you will find ownership has been broadened in our efforts to maintain and improve relationships for internships, placement, leadership opportunities, mentoring, and alumni involvement. The School of Economics and Business has pursued refinements to its programs and students’ educational experiences through increased reliance on the practice of involving advisory councils in the conception, design and development. The outcomes have been impressive with the launch of the student-driven Innovation Center and the establishment of an internship fellowship program thanks to a gift from James and Mary Susan Ajello. Members of the Business Advisory Council participated in revising the finance concentration to encourage students’ success in the increasingly competitive financial sector.
Finally, excitement is building because of a building. Alumni Hall will be renovated and become the new home of the School of Economics and Business. The Division of College Advancement will share the building. A SEB working group — composed of the dean, chairs, faculty, and advisory council members — has begun collaborating on the architectural design. The project, from design to completion stages, is expected to take approximately four years. Establishing a building specifically with the needs of the School of Economics and Business in mind is a significant strategic objective of the SEB and the college. Improved facilities will provide for expansion, reinforce the quality of our business programs and leverage new educational initiatives in the future.
The 2017-18 academic year closes with reflection on the year’s accomplishments and an eye to the future. The SEB greets the upcoming academic year with affirmation of an academic mission that continues to deliver excellent results.
Wade L. Thomas, Ph.D.
Dean, School of Economics and Business
The Student Advisory Council in September teamed with the SUNY Oneonta Alumni Association and SEB to host another speaker in the Distinguished Alumni Lecture Series. James Ajello (’75) joined faculty members from a variety of disciplines, including Economics and Environmental Studies, for a panel discussion on energy-related topics. Mr. Ajello was previously the Chief Financial Officer and Executive Vice President of Hawaiian Electric Industries, one of the largest energy producers in Hawaii. A variety of issues were addressed including how long it will take to reliably convert to only renewable energy sources, potential implications of cyberattacks, and the practicality of using microgrids. A question-and-answer period with students focused on how students could be more marketable entering the workforce and how personal connections can be useful to advance in a career.
George Iwanicki (’83) visited with students and faculty in February to lead a discussion about how to survive in asset management. Mr. Iwanicki, Managing Director at J.P. Morgan, is a portfolio manager and global macro strategist within the Emerging Markets and Asia Pacific (EMAP) Equities team based in New York. Topics for discussion included globalization, central bank action, monetary policy, and quantitative/momentum investing. Members of the Student Advisory Council, Beta Gamma Sigma and Fed Challenge Team had the opportunity to continue the discussion during a luncheon held after the event.
In April, Distinguished Alumni Lecture of the spring semester featured Rory Parness (’86), Chief Financial Officer (CFO) of Foursquare Labs, Inc. He leads the company’s financial planning, accounting and operations. Prior to joining Foursquare, he served as the CFO of several companies in the technology, healthcare and music industries. He has been an advisor to several start-ups in the technology and fashion industries. Mr. Parness shared the fifteen lessons he found to be invaluable for his success including the importance of networking, accepting failure and being humble. After the presentation, students asked questions concerning internships and jobs and explored in greater detail the culture at Foursquare.
Left to right: Tim Distler, James Garzia, Alan Rubin
This academic year saw the beginning of a long-term commitment to a partnership between SUNY Oneonta and surrounding businesses. James Garzia and Timothy Distler applied for and received the first Strategic Allocation of Resources (StAR) grant awarded by SUNY Oneonta to students. The A&D Transport Services Entrepreneurial Fund, established by Alan Rubin (’93) to support students in developing entrepreneurial skills, provided additional support for the students’ vision of establishing an Innovation Center. The center aims to promote creativity, collaboration, incubation and innovation among students at the college. Programs for hands-on learning will provide students with the opportunity to gain experiences that may not be available in the classroom. Linking students with start-up businesses in the community and identifying existing business needs through internships and project-based learning will benefit both students and local companies. Presentations concerning the progress of the Center were made by Messrs. Garzia and Distler at the President’s Breakfast for Corporate and Foundation Leaders and to the Otsego County Chamber of the Commerce.
The Dean and faculty of the SEB selected the following students to receive this year’s outstanding senior awards. The outstanding student in the school, as well as in each department and major, were recognized in a ceremony on May 11.
Outstanding Seniors and Academic Achievement Awards
School of Economics and Business (SEB): Connor Killane
Department of Economics, Finance, and Accounting (EFA): Anthony Vecere
Department of Management, Marketing and Information Systems (MMI): Joseph Pirro
Business Economics Major: Connor Killane
Professional Accounting Major: Michael McDonnell
Economics Major: Cassandra Alexandre
Robert B. Carson Award: Thanh Nguyen
Additionally, this year’s Academic Achievement Award winners include Kevin Stearns and Anna Lin, (EFA); Darnel Rogers Richards, Connor Killane, and Breanna O’Shea (MMI).
Beta Gamma Sigma (BGS) member Kevin Yue traveled to Orlando, Florida to attend the BGS Global Leadership Summit. Along with over 300 other BGS members from around the world, the students worked to improve their leadership skills through presentations, team-building exercises and networking events.
The School of Economics and Business welcomed Leah Baratz, Kadidiatou Diallo, Nathan Doody, Lesya Dubee, Zach Gerfo, Angelina Naula, Mykel Roche, Peter Small, and Heather Van Zile to the Student Advisory Council for the 2017-2018 academic year.
The SUNY Oneonta Chapter of Beta Gamma Sigma (BGS) invited 23 of its top business students and 2 faculty members to join “The Best in Business,” an expanding network of 830,000 students and alumni worldwide. Only the students who rank in the top 10 percent of the baccalaureate programs and top 20 percent of graduate programs at schools accredited by AACSB International are eligible for this invitation. Our chapter now has 174 members since 2012.
On April 27, Dean Wade Thomas, along with BGS advisors Drs. Lisa Flynn (Chapter Advisor), Barbara Durkin and Simona Giura, invited the following members to join this prestigious organization.
Juniors: Kelly Boyle, Jared Ciccarelli, Joseph Del Pozzo, Lesya Dubee, Michael Fragala, Matthew Gornbein, Olivia Jewett, Rachel Menoutis, Mariana Reis, Takoda Sitar
Seniors: Sarah Cornwell, John Danielo, Karen Duffy, Stephen Gross, Lauren Loucks, Joseph Pirro, Darnel Rogers Richards, Kody Sargent, Anthony Tommasiello, Austin Topel, Zack Valachovic, Heather Van Zile, Alan Wynne
Faculty: Dr. Lambrianos Nikiforidis and Dr. Juan Qin
Dr. David Ring, Associate Professor Emeritus of Economics, was formally recognized as the chapter honoree at the induction ceremony for his leadership and support of the School of Economics and Business. He created the endowed George F. Ring, Jr and Ellen Smith Ring Scholarship, dedicated to majors in Accounting, Business Economics or Economics. It was his vision to establish a team from the School of Economics and Business to participate in the College Fed Challenge hosted by the Federal Reserve Bank of New York.
The president of the SUNY Oneonta chapter this year was Melissa Voyer. She was joined on the leadership team by Vice Presidents Breanna O’Shea, Anthony Vecere and Kevin Yue.
On May 11, the Alpha Lambda of New York Chapter of Omicron Delta Epsilon held its induction ceremony. Chapter advisor, Dr. Michael McAvoy, and chapter officers Kevin Stearns, Peter Small and Robert Cannizzo welcomed 14 students and 1 faculty member. To qualify for ODE, a student must major in economics or have a finance concentration, junior standing or higher, completed 18 hours in economics courses, and earned overall and Economics GPAs of 3.0 or better.
The following members were inducted.
Fall 2017 semester: Robert Cannizzo, John Danielo, and Peter Small
Spring 2018 semester: Cassandra Alexandre, Matthew Eicher, Anna Lin, Anthony Messina, Carly Neugebauer, Thanh Nguyen, Anthony Vecere, Melissa Voyer, Justin Whitney, Brittany Williams, and Alan Wynne
Faculty: Dr. Christine Storrie
The SUNY Undergraduate Research Conference (SURC) is a multidisciplinary event showcasing the research of students throughout the SUNY/CUNY system. This year’s event, hosted by SUNY Oneonta, had a great turnout, as a variety of professors, alumni, and peers came to support our students. Alongside students from other colleges and those studying different majors, our students were able to participate in a great opportunity to gain professionalism and experience. Fifteen SEB students presented their projects at the conference and are listed below along with their faculty advisors.
Cassandra Alexandre, How Do Stockholders Value Firm’s Hedging Activity? (Dr. Fan Chen)
Frank Annicaro, The Effects of Biodiversity on United States National Park Visitation (Dr. Philip Sirianni)
Daniel Furtado, Analysis of the Impact of the Tax Cuts and Jobs Act of 2017 on the Stock Prices of Publicly Traded U.S. Firms (Dr. Dona Siregar)
Ruben Gil, Baylee Saba Human Resources Management Implications of Implementing the International Labor Standards in the United States (Dr. Barbara Durkin)
Michael Hennessy, Joseph O’Dea, The Influence of Goal Types on Brand Roles Preference (Dr. Chien-Wei Lin)
Thanh Nguyen, How the Affordable Care Act Has Affected the Relationship between Cancer Survival Rate and Income (Dr. Kpoti Kitissou)
Brandon Slutsky, The Impact of Federal Government Shutdowns on Stock Markets (Dr. Fan Chen)
Kevin Stearns, Do Institutes of Higher Education Have an Environmental Kuznets Curve? (Dr. Philip Sirianni)
Anthony Vecere, The Impact of Banking Regulations and Deregulations on the Stock and Housing Market (Dr. Fan Chen)
Melissa Voyer, Total Capacity Utilization and Inflation: Is There a Relationship? (Dr. Christine Storrie)
Brittany Williams, The Stimulating Factors that Contributed to the Widespread Convergence Across States During the 1940s (Dr. Paul Bauer)
Alan Wynne, Are We Overcompensating for the Amazon Effect? (Dr. Fan Chen)
Nicholas Zarr, Does Ridesharing Reduce Alcohol-related Motor Vehicle Fatalities with the Addition of Other Modes of Transportation? (Dr. Philip Sirianni)
SUNY Oneonta Marketing Club (OnMark) was once again selected as one of the top ten collegiate chapters by the American Marketing Association (AMA) at the 2018 AMA’s Annual International Collegiate Conference.
Under the advisement of Drs. Stephen Walsh and Wilson Lin, OnMark finished in seventh place among the 400 competing colleges and universities, making this the third year in a row OnMark has placed in the Top 10. In this competition, schools are judged based on their accomplishments. Each chapter submits an annual report detailing the fundraiser, membership drive, community service event, career development workshop, and other activities in which the club participated throughout the year. During the conference, OnMark was recognized in several categories including the Student Research Posters Competition (second place), Website Competition (honorable mention), and Mary Kay Case Competition (commendable).
Dr. Wilson Lin with students, Michael Hennessey and Joseph O’Dea, were awarded second place for their Student Research presentation, Are You with Me or Leading Me? The Influence of Goal Types on Brand Roles Preference.
Almost half of all SEB students are involved in internships during their time at the college, both non-credit and credit-bearing. During this academic year, 24 students earned a total of 110 credits.
The School of Economics and Business has received a generous gift from James (’75) and Mary Susan Ajello to provide financial support for internships. Fourteen students are being supported through the James (’75) and Mary Susan Ajello Internship Fund.
Thomas Kane (’83), Executive Vice President/Chief of Human Resources at Constellation Brands, has been working closely with the Internship Coordinator Dr. Sean Shannon to develop a partnership. SEB hosted representatives from Constellation Brands featuring a general informational meeting for students and a resume and interview workshop.
In the fall semester, the Fed Challenge Team (led by Dr. Christine Storrie) presented its analysis of and predictions for the economy at the annual collegiate Federal Reserve Challenge Competition. Representing this year’s team at the New York Federal Reserve were Mike Deyak, Carlos Salomon Goraieb, Kevin Stearns, Heather Teichman, and Melissa Voyer. All 17 students in the class contributed to the presentation’s development. This year, the team not only advanced to the semifinal round, they placed third out of 41 teams in the New York Federal Reserve District.
Assistant Professor of Accounting Charlene Foley-Deno again coordinated the highly acclaimed Backpacks to Briefcases networking event. All three student clubs encourage and arrange participation for this annual event. Fifty-four students, accompanied by Ms. Foley-Deno, Dr. Sean Shannon, Dr. Lisa Flynn, Dr. Izabella Lokshina, Dr. Don Trippeer, Mr. Jeffrey Weinell, and Dr. William O’Dea (emeritus) traveled to New York City, where 21 of our alumni hosted visits by our students at their places of employment.
In addition to its weekly meetings and fund-raising activities, the Finance Club (advised by Dr. Fan Chen), participated in a stock market simulation contest. Other events included Finance Career of the Week, an ice cream social and Backpack to Briefcases.
The Accounting Society (advised by Dr. Lisa Flynn and co-advised by Ms. Charlene Foley-Deno) had an active year. Guest speakers included Bill Michalsky and alumna Kaitlyn Hensler from the Syracuse CPA firm of Dannible & McKee. CPA examination preparation was also emphasized with visits from the Becker CPA Review representatives during the fall and spring semesters.
This year, the Economics Club (advised by Dr. Christine Storrie) participated in the highly successful Backpacks to Briefcases program and sponsored a trip to New York City to tour the Federal Reserve’s vault in conjunction with the College Fed Challenge class field trip/competition. The club also sponsored the College Fiscal Challenge team in the spring.
The Fiscal Challenge is an intercollegiate competition much like the Fed Challenge. The goal of the competition is to attempt to stabilize the US debt to GDP ratio to 75% over the next forty years. This extra-curricular activity, sponsored by the Economics Club, is a newly-formed team at SUNY Oneonta this year. The team, students Michael Cruz, Rebekah Cohen, Mike Deyak, Matthew DePalmo, Darnel Rogers Richards and Christopher Santana, jointly collaborated on and participated in creating the proposal for the competition. Mike Deyak, Darnel Rogers Richards and Christopher Santana presented the team’s proposal to an audience of over fifty members of the Economics Club and other interested students and faculty.
With an increasingly consistent group of members, the recently-established Management Club (led by advisor Dr. Simona Giura) has had guest speakers such as alumnus James Ajello (retired Executive Vice President and CFO of Hawaiian Electric Industries) and(President and Founder of Potentia Management Group). In February 2018, the Club organized a Business Dinner Etiquette 101 with the goal of teaching participants proper etiquette that should be practiced during a business-related dinner meeting.
The nascent Entrepreneurship Club (advised by Mr. Jeff Weinell) attended the Mohawk Valley Regional Business Plan Competition at Utica College on April 6. The event is part of the statewide program representing over 75 colleges and universities. Eulogio Medina, the first student to represent SUNY Oneonta, presented his company, Awakening Tribe. He placed second in the Social Enterprise/Social Good category. In April, James Garzia and Timothy Distler represented the club and gave a presentation to the Otsego County Chamber of Commerce. Their goal was to promote a partnership among students and local businesses and to develop opportunities for students to work with and for companies in the area.
During the End-of-Semester Study Days, the Student Advisory Council and members of Beta Gamma Sigma honor society teamed with faculty of the SEB to help students prepare for finals. Experienced students with sufficient background helped their peers to understand challenging concepts in subjects such as accounting, marketing and economics.
In November, the Student Advisory Council sponsored their two-day photo fundraiser. Headshot photographs, as well as any necessary edits, were provided to students for only $3. The pictures could be used for career-building activities such as LinkedIn profiles and portfolios.
The SUNY Oneonta Volunteer Income Tax Assistance (VITA) program, with the leadership of Mr. Jeff Weinell, continues to offer free tax assistance to qualifying households in the greater Oneonta area. Together with a coalition of not-for-profit agencies and government agencies, students from the School of Economics and Business completed 151 tax returns. During the current academic year, 12 students completed the certification training and 5 students received internship credit for their experience.
On April 16, members of the Student Advisory Council and Beta Gamma Sigma participated with other groups on campus in Yards for Yeardley, an event held on campuses around the world to raise awareness about relationship violence. Together, members of the campus walked over 2.5 million yards.
Beta Gamma Sigma, with participation by the Student Advisory Council, sponsored a Dodgeball Fundraiser Tournament in December 2017, raising $133 for the hurricane clean-up efforts in Puerto Rico.
Effective in Fall 2017, Dr. Paul Bauer was awarded continuous appointment. His areas of interest include econometrics, macroeconomic policy, applied microeconomics, regional analysis, efficiency and productivity measurement, financial markets and payment services. He received his Ph.D. in Economics from the University of North Carolina-Chapel Hill and joined SUNY Oneonta in 2011 after a career as an Economic Advisor with the Federal Reserve Bank of Cleveland.
Effective in Fall 2017, Dr. Barbara Durkin was awarded continuous appointment and promotion to Associate Professor of Management. Dr. Durkin’s research is interdisciplinary and focuses on emerging issues in the legal environment of business and the workplace. She received her J.D. degree from Pace Law School in 2010 and joined the faculty at SUNY Oneonta the following year. Admitted as an attorney in New York, her professional experience in human resources management includes consulting and executive positions in both the corporate and public sectors.
“I thank Dean Thomas and the committee for putting my name forth to receive this award. The SEB has many worthy recipients, so I am honored to have been our nominee.” Dr. Philip Sirianni (Assistant Professor of Economics) received the college’s 2017 Distinguished Scholar Award in recognition of his achievements in scholarly research. Dr. Sirianni’s current research examines the impacts of sustainability commitments made by colleges and universities on admissions outcomes. Additionally, he has published research on economic education and climate-economy modeling. Dr. Sirianni noted, “I thank Dean Thomas and the committee for putting my name forth to receive this award. The SEB has many worthy recipients, so I am honored to have been our nominee.”
The SUNY Oneonta chapter of the National Student Athlete Honor Society of Chi Alpha Sigma Chi recognized Dr. Barbara Durkin (Associate Professor of Management) as its 16th Honorary Inductee for her continued support to student athletes at the College. She is the first faculty member from the School of Economics and Business to be selected for this distinction.
Dr. Simona Giura (Assistant Professor of Management) was recognized for her research at the Northeast Decision Sciences Institute (NEDSI) conference in Providence, Rhode Island in April 2018. Her paper, The Impact of Network Centrality on Knowledge Transfers in Alliances, was the winner of both the Richard Briotta Best Paper Award in the Knowledge Management/Strategy category and the Best Overall Conference Paper across all categories.
