PJ Glandon joined the economics department in the fall of 2012 after completing his doctorate at Vanderbilt University. Prior to graduate school, he worked for Procter Gamble in Cincinnati as a financial analyst in their pharmaceuticals and personal health care divisions. His current research studies the pricing behavior from a macroeconomic perspective. He has published articles on the role that temporary price reductions (sales) play in business cycles and how competition affects pricing strategy. He is currently working documenting the methodology used by macroeconomists and how it has changed over time.

Glandon teaches principles of macroeconomics, intermediate macroeconomic theory, introduction to econometrics, advanced econometrics, portfolio allocation and industrial organization.

Areas of Expertise

Macroeconomics, finance

Education

2011 — Doctor of Philosophy from Vanderbilt University

2000 — Bachelor of Science from Miami University Oxford

Courses Recently Taught

This course studies national economic performance. Building upon the microeconomic theories of consumer and producer behavior developed in ECON 101, the course introduces models that focus on the questions of unemployment, inflation and growth. Topics covered include measurement of national income and inflation, macroeconomic models, saving and investment, money and banking, fiscal and monetary policy, and international trade and finance. This course is required for economics majors. Prerequisite: ECON 101. Offered every spring semester.

This course is a theoretical and applied study of the level of national income and employment. Prices, interest rates, unemployment rates, international trade relations, business cycles and the long-run growth of income significantly affect our standards of living. Diverse schools of macroeconomic thought are distinguished by theoretical concepts, priorities in performance goals, and empirical evidence. The course considers a variety of approaches and emphasizes the microeconomic foundations of macroeconomic theory. Government actively manages both domestic and international aspects of the macroeconomy, and the course considers current public policy issues. This course is required for the major. Prerequisite: ECON 101 and ECON 102, and a college level calculus course or a score of 4 or 5 on the Calculus AP exam. This course cannot be taken as pass/D/fail. Offered every spring semester.

Econometrics is the application of statistical techniques to test economic models. This course offers an introduction to the theoretical and practical aspects of econometrics. Emphasis will be given to linear regression techniques, special problems associated with linear regression, and the interpretation of results. In short, economic explanations of behavior are quantified and hypotheses are tested with data using statistical techniques. Students will make extensive use of Stata; a statistical software package that is popular among economists; to create and modify data sets and obtain experience learning to apply appropriate econometric methods. This course is required for the major. Prerequisite: ECON 101, 102 and a college course in statistics or a score of 4 or 5 on the Statistics AP exam. This course cannot be taken as pass/D/fail. Generally offered every semester.

This course examines the optimal allocation of an individual's wealth among risky financial assets and the related question of the pricing of these risky assets. After a consideration of various measures of risk and return, modern portfolio theory is used to derive the capital asset pricing model. The empirical performance of the capital asset pricing model will be analyzed and alternative asset pricing models will be discussed. Throughout the course, equity shares will be used as a particular application. The remainder of the course is spent on derivative assets, most importantly futures and options. Time permitting, options will be treated in some detail, concluding with a discussion of the Black-Scholes option-pricing model. While completing assignments, students will make fairly heavy use of a spreadsheet program such as Excel. Prerequisite: ECON 101, 102 and a college course in statistics or a 4 or 5 on the Statistics AP exam. Generally offered every year.

This course provides an introduction to industrial organization, a field that focuses on how firms, interacting through markets, attempt to exploit opportunities for profit. We examine the standard models of perfect and imperfect competition, emphasizing the strategic behavior of the interacting firms. Topics include pricing models, strategic aspects of business practice, vertical integration and technological change. Prerequisite: ECON 101, 102 and 201. Generally offered every other year.

This seminar studies the empirical testing of economic models. The seminar's focus will vary depending on the instructor. Possible topics include instrumental variable analysis, time series analysis, panel data analysis or limited dependent variables. Each student will undertake and report on a research project. This counts toward the seminar requirement for the major. Prerequisite: ECON 101, 102 and 205. Generally offered every other year.