President Barack Obama nominates Haas Professor Emeritus Janet Yellen to become the first woman to lead the Federal Reserve.
Colleagues and friends at Berkeley-Haas celebrated Professor Emeritus Janet Yellen’s nomination by President Barack Obama to become the first woman to head the Federal Reserve Board. If confirmed, Yellen will succeed current Fed Chair Ben Bernanke in January 2014.
Yellen taught macroeconomics to MBA and undergraduate students for more than two decades. Her research has focused on labor markets, monetary and fiscal policies, international trade, and investment policy.
Yellen has served as the Fed’s vice chair since 2010 and was CEO of the Federal Reserve Bank in San Francisco from 2004 until 2010. She has been a vocal advocate for transparency of Fed policies. Yellen also chaired the President’s Council of Economic Advisers during the Clinton administration.
Dozens of scientists and engineers from around the country converged in Berkeley this summer for a new entrepreneurship program funded by the National Science Foundation (NSF).
Haas’ Lester Center for Entrepreneurship is leading the three-year Bay Area NSF Innovation Corps, which provides training and mentoring to help NSF grant holders more quickly commercialize their technologies.
The foundation of the program is Haas Lecturer Steve Blank’s Lean LaunchPad framework, which focuses entrepreneurs on developing business models, rather than business plans, and iterating models quickly in response to feedback from more than 100 customers.
Bo Cowgill, a former Google analyst and current Haas PhD student, has won a $20,000 Kauffman Dissertation Fellowship, which supports research in the field of entrepreneurship. He is one of 15 fellowship winners nationwide.
The money will go towards Cowgill’s research, which in general focuses on the intersections of economics, job markets, and innovation. Specifically, Cowgill has been interested in studying the link between firms’ hiring practices, patenting, and other innovative activities, as well as firms’ internal betting markets that let employees bet on which new ideas they think will be most successful.
The Energy Institute at Haas has teamed up with MIT’s Center for Energy and Environmental Policy Research to evaluate and improve energy-efficiency policies and technologies.
The joint initiative, called E2e, aims to support and conduct rigorous and objective research, communicate the results, and give decision-makers real-world analysis to make smart choices. The project’s name captures its mission: to find the best way to go from using a large amount of energy (“E”) to a small amount of energy (“e”).
“When deciding on the best energy measures, decision-makers should compare model predictions to actual consumer behaviors. That’s where this project comes in,” says Professor Catherine Wolfram, co-director of the Energy Institute at Haas. “E2e will provide valuable guidance to government and industry leaders as well as consumers.”
California Management Review (CMR), the Haas School’s quarterly journal, earned a higher “impact” rating than did competitors from other business schools in an analysis by Thomson Reuters. The most recent release of Journal Citation Reports from Thomson Reuters gave CMR a current impact factor of 1.667 and a five-year impact factor of 2.554—both higher than any other competing business school journal. The impact factor measures the frequency with which articles are cited in other academic publications.
The Haas Undergraduate Program rose to second place in the U.S. News ranking of undergraduate business programs. Haas, which shared the #2 spot with MIT and Michigan, ranked #3 in the previous three years.
Greg Greeley, MBA 98, VP of International Expansion, Amazon
Alumni in such diverse fields as technology, banking, and design welcomed hundreds of new students to campus.
Greg Greeley, MBA 98, Amazon’s vice president of international expansion, stressed the value students bring each other. “As you embark on this journey, it’s going to provide you a great opportunity to immerse yourselves with some of the most diverse, energized, dynamic people you will ever get a chance to work with,” Greeley told evening-and-weekend MBA students.
New full-time MBA students heard inspiring talks by Barbara Desoer, MBA 77, newly named chief operating officer of Citigroup’s consumer unit, Danae Ringelmann, MBA 08, co-founder of crowdfunding site Indiegogo; and Tom Kelley, MBA 83, general manager of design firm IDEO.
Greg Patterson, MBA 00, CEO of a private wealth consulting firm, spoke to the incoming class of undergraduates about “the Haas way” of networking.
The Haas School’s new Fisher Center for Real Estate and Financial Markets Laboratory is using Big Data to create better metrics for the industry and regulators.
One project launched by the lab involves building more accurate housing price indices. Another project is tapping data from 32 million fixed-rate loans issued in the U.S. to map the massive mortgage network from loan originators to brokers to branches to large bank holding companies.
The goal of the new lab, launched this year, is to develop a deeper understanding of real estate markets and develop risk management tools for the industry, says Nancy Wallace, co-chair of the Fisher Center for Real Estate and Urban Economics. Wallace hopes the new housing indices under development at the lab will replace the frequently cited Case-Shiller Index, which she believes is flawed. For more on the lab, see the Q&A with Wallace.
Prof. Toby Stuart
Entrepreneurship Professor Toby Stuart is leading a Silicon Valley Immersion Week in November for the Haas School’s new Berkeley MBA for Executives Program, including entrepreneurship coursework, company visits, talks by C-level executives, and a venture capital panel discussion.
The week features two days of coursework on entrepreneurship and innovation at the headquarters of Google and Airbnb. On another day, a diverse cast of C-level Silicon Valley executives will talk to students at Facebook headquarters. Students also will fan out across Silicon Valley and San Francisco to visit 25 of the area’s most innovative companies and hottest startups.
To teach about current trends in venture capital, Stuart will team up with Dean Rich Lyons on Sand Hill Road in Menlo Park to lead a panel discussion with several VC alumni, who then will talk one-on-one with students at an informal reception and dinner.