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The Federal Reserve Bank of MinneapolisThe Federal Reserve system is responsible for the United States’ monetary policy and plays a direct role in influencing the supply and cost of money. The Fed also supervises banking organizations and provides services to financial institutions. The Fed employs a number of research economists and spearheads research into money, monetary policy and banking
The Department has a long-standing relationship with the Federal Reserve Bank of Minneapolis (often called “the Fed.”) Many of our staff hold joint appointments with the University of Minnesota and the Federal Reserve and the Fed also employs a few students every year as research assistants. Typically, these students have completed their written prelims, since they are usually the most qualified candidates. Research assistants are employed for one year, although quite often the position is renewed for a second year. This position provides an opportunity to work with a number of highly active researchers, who are not only economists employed by the Fed, but also consultants and visitors.
The Department of Economics at Minnesota has its own library, called the Economics Research Library. The ERL is housed in room 3-145 Hanson Hall, and is primarily for use by graduate students and faculty in econ-related departments.
The library began in 1967 with donated books and journals from department professors, with many from the collection of Jacob Schmookler. A fund was set up for purchasing books and journal subscriptions, and we still acquire books. Journals are now accessed primarily through the University Library's electronic collection, although we have the major economics journals in paper from 2000-2008. There is a useful like to our new book lists, economics journals and the index EconLit on the website above.
We collected many discussion (or working) papers from institutions around the world and keep an archive of papers that are not in digital format. All papers received since 1992 are listed on the library website, as are links to other universities' current working paper series. The older working papers of the department are being digitized and will become part of the U of M Digital Conservancy at http://conservancy.umn.edu/. The new Minnesota working paper series can be found here: http://www.econ.umn.edu/merr/.
In addition, we have an archive of unpublished and non-electronic papers by Minnesota professors and alumni, and a collection of unpublished papers by Nobel Prize winner Leonid Hurwicz. Lists of these can also be found on the library website.
It is a quiet place to study. Photocopies can also be made for free.
The library is usually open every weekday during the semester from 1:00 - 4:30 or 5:00pm. You can reach me at wendy@umn.edu or by phone at 625-2516. Please stop by and introduce yourself!
Wendy Williamson
Librarian
The Economics Department provides a computer lab, which may be used 24 hours a day free of charge. The terminals in the lab give full access to the West Bank computer network.
The Social Science Research Facility Center (SSRFC) is a support office for faculty, students and staff who use the Unix environment for research. It primarily serves the departments of Economics, Geography, History, Political Science and Sociology, and also assists other departments involved in research using Unix systems.
The SSRFC maintains numerous Unix workstations and X-terminals at its office, which are available to all users. It also maintains various Unix workstations and X-terminals in the client departments. The following software is currently provided on Sun SPARC stations:
C language (Sun C, GNU C)
C++ language (Sun C ++, GNU C++)
F77 language (Sun)
mathematica
matlab
SAS
GAUSS
SPSS
Graduate and undergraduate students at the University of Minnesota can get help with all statistical aspects of research, from study design to analysis and interpretation of results. Students may get help from either the Statistical Clinic staffed by statistics graduate students or from faculty consultants. There is no charge for this service.
Social Functions
The Department of Economics is made up of faculty, staff, and students who enjoy socializing with each other and take many opportunities to do so. There are many parties throughout the year, hosted not only by the department, but also by individual faculty members or the Graduate Student Social Committee.
The department has a Happy Hour every Friday at one of the local bars, where faculty and students gather to talk about the latest in economics in a convivial atmosphere. The department also sponsors a “Donut Hour” every Tuesday in the departmental lounge. The Donut Hour offers an opportunity for faculty, students and staff to mingle and discuss economics or any other pressing topics.
There are also some more formal, and purely social occasions throughout the year. Every year starts with the Fall Barbecue at a local park which allows students, faculty, and staff to socialize and introduce themselves to new students before their studies start.
The departmental Holiday Party is held in December every year. Students, faculty and staff enjoy a festive buffet and the theatrical stylings of various departmental groups. In recent years, the company has been treated to skits from both the students and the faculty satirizing various aspects of academic life.
The Spring Picnic and Softball game is another popular annual event. Most years, a team of graduate students opposes a team of faculty members. The softball game is followed by a barbecue, which allows both faculty and students to showcase their cooking skills. Softball is not the only game played at the picnic; soccer(football) and hackeysack are offered as well.
The Department of Economics is located in Minneapolis. Minneapolis has 13 lakes, most with swimming beaches. The lakes are connected by a parkway system extending over 35 miles, with separate bicycle trails and running paths. Near the University, where many students live, are small shops, inexpensive restaurants, bookstores and theaters.
Minneapolis, the largest city in Minnesota, and St. Paul, the state capital, are known as the Twin Cities. The Twin Cities combine the benefits of a small town--gracious homes, tree-lined streets, uncrowded lakes and parks--with the cultural and recreational offerings of a large urban area. Even with a population of more than two million, there are negligible pollution, low crime rates, affordable housing, and people known for their friendliness. Both are highly attractive cities, offering flourishing downtowns, sophisticated educational and cultural institutions, impressive shopping facilities such as the Mall of America, entertainment and sports, and the always affordable diversions of parks and open spaces.
The Twin Cities are the cultural center of a five-state area. The nationally acclaimed Guthrie Theater, a number of community theaters, the University's own theater, and national touring companies provide year-round entertainment.
The musical environment is outstanding. The Twin Cities are home to the Minnesota Orchestra, the St. Paul Chamber Orchestra and the Minnesota Opera as well as a thriving independent music scene and the iconic rock club, First Avenue. Local theaters, such as the Orpheum and the Ordway Music Theatre, welcome major shows as well as internationally-known performers. The Twin Cities is also a frequent stop for musical acts from every genre.
The University's Northrop Auditorium offers an annual dance series that features dance groups from around the world. Movie theaters in the area hold regular film festivals. The Walker Art Center and the Minneapolis Institute of Arts display both permanent collections and special exhibits. There are numerous outdoor festivals during the year. Most notable are St. Paul's Winter Carnival, the Minneapolis Aquatennial, the Renaissance Festival, and the Minnesota State Fair which is one of the nation's largest.
Many of the activities noted here are available to students at a discount. Nearly all are accessible by public transportation.
The University's Big Ten teams and the Cities' professional baseball, football, hockey and basketball teams provide a year-round schedule of spectator sports. Intramural sports at the University offer ample opportunity for students to participate in team sports; the economics department regularly fields teams in basketball and soccer.
The Cities offer miles of bicycle paths, hiking and cross-country ski trails, and easily accessible golf courses and tennis courts. The area abounds with lakes for swimming, boating, and ice-skating. Opportunities for hunting, fishing, camping and hiking are plentiful and inexpensive throughout Minnesota.
Sharing its northern border with Canada, Minnesota is a patchwork of lakes and rivers, forests and croplands. Glaciers scraping slowly across North America eons ago created the many bodies of water that give Minnesota its nickname "Land of 10,000 Lakes."
There are actually more than that, and it's not surprising that two popular recreation areas in the state focus on water: the North Shore, which curves around the western edge of Lake Superior, and the Boundary Waters Canoe Area, a federally protected wilderness area. Many smaller state parks and wilderness areas are located a short drive from Minneapolis.
The weather, especially winter, is a subject that comes up frequently. Mention Minnesota, and some people imagine an arctic plain with howling winds. However, winter is rarely as bad as one might imagine. Clear winter days bring skiers, skaters, hikers, and joggers to the lakes and parkways. The same areas accommodate swimmers, sailors, cyclists, golfers, and tennis players in the spring and summer. These are all popular diversions from study and research.
Most long-term visitors to the University soon fall in love with Minnesota and the widely envied quality of life here.
As with many urban campuses, parking is at a premium on campus. Public transit is a convenient way to get around the cities. Metro Transit covers both St. Paul and Minneapolis as well as providing services to some of the suburbs. As a University Student, you are eligible to purchase a U-Pass which gives a substantial discount on bus fares.
The University also provides a bus service between the St. Paul and Minneapolis campuses.
The University is in a large metropolitan area with adequate housing available for both married and single graduate students:
University of Minnesota student families, with or without children, or single parents who have 50 percent or greater legal custody of minor children are eligible. A marriage certificate or custody document is required. Extended family members are not eligible for University student family housing (mothers, fathers, sisters, brothers, adult children, etc.).
For more information and/or an application please visit www.housing.umn.edu/family.index.html.
Most students choose to live in one of the neighborhoods adjoining the Minneapolis campus. The University of Minnesota's housing services provides a comprehensive listing for many off-campus apartments and houses, as well as temporary housing and sublets. Housing Services also manages the University's residence halls.
You can find housing services on-line at www.housing.umn.edu