Celeste Swanson

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Major: Agricultural Business, International Agriculture
Experiences Abroad: Netherlands, Spain, United Arab Emirates, England, and Argentina

Studying abroad (on 5 different programs) has made Celeste a more confident person with a new appreciation for other cultures, mindsets and leadership styles. Celeste also mentioned that her international experiences have given her an edge up when interviewing and applying for internships as she can talk with employers on a higher level with more credibility.

Isabelle Kelley

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Iowa State Alumna Isabelle Kelley ('40 econ) Developed a Food Stamp Program to Feed Millions

At a time when many needy families lacked adequate nutrition, Kelley helped develop a program to improve the well being of Americans. Today, more than 38 million people receive food stamps.

In the middle of the 20th century, many thousands of poor families in the United States went to bed hungry.

Any real world examples of comparative advantage?

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Abbreviated Question: 
Any real world examples of comparative advantage?
Answer: 

Prices will drive the system. For example Ireland has a comparative advantage in cheese and butter due to climate and a large amount of land suitable for dairy cows.  China has a comparative advantage in electronics because it has an abundance of labor. With the removal of the milk quota and the opening of trade between China and Ireland, Irish dairy farmers will experience higher milk prices and will expand diary production. Milk products from Ireland will be sold to thousands of retail outlets in China.

How are uninvested US dollars categorized and does that affect the Balance of Payments?

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Abbreviated Question: 
How are uninvested US dollars categorized and does that affect the Balance of Payments?
Answer: 

The balance of payments accounts are maintained on a double entry basis. An import of $1 million will show as a negative $1 million entry in the Current Account. When the Chinese exporter receives and deposits this $1 million check in its Chinese bank, the latter has now a claim of $1 million on a US bank deposit. It is export of assets and will show as $1 million positive entry in the Financial Account of Balance of Payments.

As a result, the balance of payment identity, that is, Current Account + Capital Account = 0, holds.

Low growth in China and its effect on the exchange rate

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Abbreviated Question: 
Low growth in China and its effect on the exchange rate
Answer: 

Fundamentally the change of the exchange rate reflects the difference of productivity growth between China and U.S.. In the past decade, the productivity of China grew faster than U.S. and therefore we see a long-term appreciation of RMB over U.S. Dollar. The trend seems reversed in 2018.  In the 4th quarter of 2018, the growth rate in China is 6.6%, which is almost the lowest since early 1990s. In contrast, U.S. economy is pretty strong now. 

Riley Arthur

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Caring Mentorship, Room to Grow
Riley Arthur is on the run. The junior majoring in agricultural business and economics is chasing not just a degree, but the full-blown Iowa State experience.

Arthur, an Owatonna, Minnesota, native, worked as an intern this summer with ethanol processor Flint Hills Resources.

Hans Riensche

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World Food Prize Honors Iowa State University Student Hans Riensche with Prestigious Internship Award

The World Food Prize Foundation has announced Hans Riensche, an Iowa State University student, as the recipient of the 2018 John Chrystal Award at the 2018 World Food Prize Laureate Award Ceremony at the Iowa State Capitol in Des Moines, Iowa. Riensche was honored for his exceptional achievements as a 2017 Borlaug-Ruan International Intern. 

Ina De Inza Niemeijer

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Hometown:  La Pampa, Argentina

Current Employment/Job Title: Human Resources Coordinator at Renewable Energy Group, Inc. in Amsterdam

Fantasy Football Strategies

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Abbreviated Question: 
Fantasy Football Strategies
Answer: 

Thanks for your ‘Ask an Economist’ question.  I will provide some thoughts, but may not be able to answer it completely to your satisfaction given I do not fully understand how your fantasy league operates.  For example, you do not explain how players get classified as A1, A2, B, and C players.  It is also not clear to me what you mean by ‘give up a draft pick’ to keep a player (i.e., do you mean exchange one draft spot for another versus actually lose a draft pick and a player?).  Another thing you do not make clear is your league’s rule for starting players by position

Roger Underwood

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Roger Underwood has been selected to receive the 2018 Alumni Medal Award. The Iowa State University Alumni Association established this award in 1948 to recognize Iowa State University alumni for long loyal service to the university through alumni-related activities. It is the premier award given to alumni by the ISU Alumni Association.

The university-wide awards ceremony, sponsored by the Alumni Association, will take place on Friday, Oct. 26, 2018, during the ISU Honors & Awards Ceremony. 

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