This fall, a new lab will help students experience first-hand how research is done in economics. Made possible by a generous gift from 1978 Duke graduate Wayne Woodman, the Duke Economic Analytics Laboratory (DEAL) will provide undergraduates with real-world economics research experience.
DEAL students, also known as Woodman Scholars, will join research teams led by faculty with whom they will work directly. DEAL will enable faculty to choose students that best fit their project needs, which might cover a broad range of topics including education, crime, health care and behavior, public finance, welfare programs, family behavior, labor markets, economic development, the environment, the behavior of firms, international trade, poverty, inequality, the macroeconomy, and finance.
Heading up the endeavor is Jeff DeSimone, who joins Duke this year as professor of the practice and director of the DEAL after 3 years at the University of Iowa.
As an undergraduate, DeSimone admired the faculty at his liberal arts school as role models, and ever since then has been focusing on supporting and encouraging the undergraduates he works with asa professor.
“I have always made myself available to undergraduates, getting them involved in my own research, engaging them whenever possible,” he said.
That passion is what led him to Duke.
A health economist by trade, DeSimone was attracted to his new position because he wants to be on the front lines of recruiting undergraduates to economics and introducing them to the research process. DEAL’s goal, DeSimone says, is to enrich the Duke undergraduate experience, and attract students to the department that might not realize how vast the field of economics can be.
"At Duke, we think of ourselves as being in the most elite group of undergraduate programs in the world,” he said. "We want to stay at the frontier of that in terms of student experiences, and this lab gets students integrated into research life at Duke. As long as they’re interested in economics, we’re happy to train them on what it takes to work in research.
”That experience involves more than coming to class, studying for midterms and taking tests. “A big part of research is not knowing if you're going get the answer,” DeSimone said. “Research is finding interesting questions, not knowing the answer, having to create the processes as you go along, not knowing exactly what the ideal way to study it is. It’s not just doing well in classes.”
The unique undergrad experience the DEAL offers is not only working directly with faculty, but also doing research alongside masters and doctoral students, as well as their undergraduate peers.
Norb F. Schaefer Distinguished Professor Duncan Thomas, along with a faculty committee, have been shaping how DEAL will look. “Our goal is to help our students find their voice and develop the skills that will lay the foundation for future successes in finance, business, science, policy or elsewhere,” said Thomas.
Not only is the committee seeking to elevate the research environment in the department, but they hope the DEAL encourages women and other under-represented groups to study economics by offering them opportunities to participate in collaborative research, develop skills for future success and engage in a rigorous and personally rewarding educational experience.
“If this works as a vehicle to attract students who wouldn’t normally be involved in economics, even if they don’t major in it, then that's a good outcome,” said DeSimone.
For DEAL program specifics and to apply, please visit the DEAL website.
Economics Department
