State's Income Growth Tanks

From the Tennessean (3-27-08): "The state has shed 33,100 manufacturing jobs during the last two years, according to Middle Tennessee State University economist David Penn. Those job losses aren't being replaced by enough higher-paying jobs in other sectors."

State Views Skilled Jobs as Crucial to Pay Growth

From the Tennessean (3-27-08): "The state's unemployment rate rose to 5.3 percent in February, higher than the national average of 4.8 percent. The state has lost 33,100 manufacturing jobs during the last two years, according to Middle Tennessee State University economist David Penn."

Journal for Economic Educators

The 2008 issue of the Journal for Economic Educators is now online (www.mtsu.edu/~jee). Articles include:

• "Confounding Issues in the Deadweight Loss of Gift-Giving"
  —H. Kristl Davison, Mark N. Bing, E. Bruce Hutchinson, and Leila J. Pratt
  

• "Social Mobility in the United States as a Markov Process"
  —Zol Alexei Hooper and E. Anthon Eff

• "Cross Elasticity of Supply: As Big a Secret in Canada as It Is in the U.S."
  —Anthony J. Greco

• "An Economics Capstone Course from Creation to Presentation"
  —Dennis S. Edwards

• "The Adoption of Specialized High School Financial Literacy Curriculum Modules"
  —David Fehr

Nashville Housing Market Holds Out against Tide of Economic Turmoil

From the Tennessean (3-24-08): "David Penn, an economist at Middle Tennessee State University, doesn't like what he sees when he surveys the nation's financial landscape. . . . Penn believes it's the most serious financial crisis to face the nation since the 1930s. 'We're in uncharted territory,' Penn said."

Area Struggles, but Avoids Nation’s Economic Problems

From the Murfreesboro Post (3-23-08): "David Penn, executive director of the Business and Economic Research Center at MTSU, is reluctant to say Rutherford County is in a recession. . . . 'We need to see more losses for another couple of months, more severe losses to really convince me. . . . I think we are going to see six more months of worse news or declining activity,' he said.

Group Urges Living Wage Debate

From the Daily News Journal (3-22-08): "'In a marketplace economy, the market sets wages...,' said David Penn, director of Middle Tennessee State University's Center for Business and Economic Research. "In the long run, you need to be working in an occupation in short supply that requires a lot of training and education. That's how you get more pay.' ... Living wage campaigns have gained attention because corporate profits and productivity have risen while wages for all but a few remained flat or fell when adjusted for inflation, Penn said."

Nashville's Newcomers Flock to Booming 'Burbs

From the Tennessean (03/20/08): "Bedford and Maury made the state's top 15 list for both periods measured. David Penn, director of the Business and Economic Research Center at Middle Tennessee State University, called them 'not red-hot, but very warm' and attributed the growth to people looking for even cheaper housing and a more rural setting."

Academy of Economics and Finance Awards

At the recent 2008 annual meeting of the Academy of Economics and Finance (AEF) in Nashville, the following MTSU economics faculty members received recognition:

• Dr. John Lee, Chair of MTSU's Department of Economics and Finance, was named Fellow of the Academy, awarded for lifetime contributions. Only four people have received this award.
• Dr. Albert DePrince, Jr., was elected to a four-year term as secretary of AEF.
• Dr. Joachim Zietz was named Teaching Fellow.
• Dr. Franklin Michello was elected to the AEF board of directors.
  

Nashvillians Feel Economy's Pinch

From the Tennessean (03/09/08): "'I think this is one of the worst quarters I've seen since I've been here, and I don't think it's the worst yet,' said Middle Tennessee State University economist David Penn, who has tracked the local economy since 2002."

Database Update

The following files on the database website maintained by Dr. Al DePrince have been updated with data available as of the morning of March 3, 2008.

• Gross Domestic Product and Its Components
• Personal Income and Its Components
• National Income and Its Components
• Gross Saving and Investment
• Deflators
• General Economic Indicators (monthly)
• Consumer Level Prices (monthly)
• Detailed Personal Consumption (quarterly)