Richard D. Marcus, Ph.D.
Associate Professor and Chair of the
Lubar School of Business Executive Committee, Finance
and Interim Director, M&I Marshall & Ilsey Center for Business Ethics
Lubar Hall S430F
Office: (414) 229-4103 Home: (414) 228-7731
Ph.D., Economics, University of Chicago
M.S., Finance, University of Wisconsin-Madison
M.A., Economics, University of Chicago
A.B., Economics, University of Michigan
I am financial economist. Some call me a “Chicago Economist,” which means that I think that economic and financial events are explainable by forces of incentives and prices. My economic heroes include Adam Smith, Frédéric Bastiat, and Milton Friedman, of which I will frequently quote. I would also call myself a “monetarist,” which roughly means that the wild gyrations in the amount of money directly influence inflation, economic growth, and the stock market.
Our session is on What’s Ahead for Wisconsin Manufactures from the New Administration? My chief concern will be over the positive and negative impacts of border taxes. There are considerable mixed messages on how a border tax will work. I will help show what this means and where it may help and hurt our various industries. Often the claim is made that exchange rate changes will “undo” any positive effects of a border tax. I will explain why some believe this statement, but why I don’t agree with it.
I teach both economics and finance courses. My recent research includes management buyouts and initial public offerings. My publications appear in Economic Modeling, The Financial Review; International Review of Accounting, Banking, and Finance; Managerial and Decision Economics; Southern Economic Journal; Land Economics; Global Business and Finance Review; Recent Developments in International Banking and Finance; The Journal of Business Forecasting; Economics of Education Review; Journal of Educational Statistic; Journal of Marketing for Higher Education; Journal of Economic and Social Measurement; Ideas on Liberty; and elsewhere. My macroeconomic forecasts appear in BizTimes Milwaukee.
The Sheldon B. Lubar School of Business is non-departmentalized, which means that all the areas are technically in one large Department of Business. I have the pleasure of chairing the Lubar Executive Committee since 2003. I have been teaching at UWM for 32 years. Before that, I taught at Cleveland State University, including their CSU Executive MBA Program.