Congratulations to Mike Dooley!
Professor Michael Dooley joined the UC Santa Cruz Economics Department in the winter of 1992 to help start our program in international economics, and is retiring after the 2014-15 academic year concludes. He earned his Ph.D. in economics from Pennsylvania State University in 1971. Before joining UCSC, he held influential roles in the international finance sector such as chief economist for Deutsche Bank, Latin America and assistant director of the Division of the Research Department at the International Monetary Fund.
We had the opportunity to ask Professor Dooley about his time at the university, and about his plans for the future.
Since Professor Dooley joined UCSC in 1992, there have been many changes to education and economics. He commented that "confidence in our economic standing was shaken by the events in 2008-09. We [collectively] didn't think that could happen anymore. We are still uncertain." International Economics has also changed over the years. "Many of the International Economics understandings were wrong. It will take a long time for the new work and theories to make their way into textbooks."
His advice for undergraduate economics students is that they should focus on something that they excel in. “If you are good in math or statistics, let that differentiate you. You will do better in the job market if you can set yourself apart from others. Quantitative backgrounds are in demand.” As for graduate students, "… pay off is 99% internal. … You earn the right to [study economics at the Ph.D level] by being really good at it."
While Professor Dooley plans to continue his work in the financial sector, he will miss watching the students grow intellectually and the town of Santa Cruz.
The department wishes Mike much happiness and fulfillment in his retirement from academia!