Tricounty News

St. Cloud State University hosts the 48th Annual Winter Institute

St. Cloud State University officials announced that the 48th Winter Institute Business and Economic Leadership Summit will be held Thursday, March 4. The theme "Thriving in the brave new economy" will focus on the importance of innovation and technology in creating economic growth.

The one-day event features speakers in morning and early afternoon sessions at Ritsche Auditorium in Stewart Hall and in Atwood Ballroom on the campus of St. Cloud State with mid-afternoon to early evening sessions at the Best Western Kelly Inn on 4th Ave. South in St. Cloud.

The 2010 Winter Institute features three leading national economists to discuss in the morning sessions their latest work and perspectives on economic growth, competition and evolution. Admission to the morning sessions is free.

James Bullard, '84, is the 12th President and CEO of the Federal Reserve Bank of St. Louis. A St. Cloud State alumnus, he earned his undergraduate degrees in economics and quantitative methods and information systems and earned his PhD at Indiana University. Bullard has authored more than 100 articles in professional journals, such as American Economic Review; Journal of Monetary Economics; Journal of Money, Credit, and Banking; Journal of Economic Growth; and Journal of Economic Theory. He is co-editor of the Journal of Economic Dynamics and Control, and a peer reviewer for more than two dozen periodicals and institutions. His presentation is entitled "The Fed at a Crossroads."

Costas Azariadis is the Edward Mallinckrodt distinguished professor in arts and sciences at the economics department at Washington University in St. Louis, and professor emeritus at UCLA. Azariadis studied engineering in the National Technical University of Athens before earning an MBA with distinction and a PhD in economics at Carnegie Mellon. Originator of the implicit contract theory, he is widely published with nearly 40 journal articles and 14 book chapters, and is the author of the popular graduate-level textbook, "Intertemporal Macroeconomics." His presentation is entitled "Engines of Economic Growth."

Barry Nalebuff is Milton Steinbach professor of management at the Yale School of Management and part owner of Honest Tea beverages. An expert in business strategy and game theory, Nalebuff graduated in 1980 from MIT with degrees in economics and mathematics, eventually earning a master's degree and doctorate in economics from Oxford University on a Rhodes Scholarship. His most recent book, "The Art of Strategy," is an update of his best-selling book "Thinking Strategically." Nalebuff will discuss ideas from his book, "Co-opetition," specifically how can businesses cooperate to innovate and increase technological know-how but still compete for market share.

Joining the dialogue in presentation and as panel facilitator is Chris Farrell, economic editor for Marketplace Money, American Public Media nationally syndicated public radio personal finance program. He is also economics correspondent for American Public Media's documentary unit, American Radio Works and chief economics correspondent for Minnesota Public Radio. A contributing editor at Bloomberg Business Week magazine, Farrell also has a weekly column in the Star Tribune and is the author of several books. His latest is "The New Frugality: How to Consume Less, Save More and Live Better." His presentation is entitled: "I Hope We Don't Let A Serious Crisis Go To Waste ... But I Am Worried ..."

A new component of the Winter Institute is an afternoon business interactive panel moderated by Chris Farrell. The panel consists of the three morning speakers and three St. Cloud CEOs; Tom Grones, GeoComm, a consulting, geographic information systems and software development firm; Jeff Gau, Marco Business Products, a voice, data, video, and print solutions company and Chris Coborn of Coborn's, Inc., an employee-owned supermarket chain. The panel discussions take place at the Kelly Inn at 2:30 p.m.

At 5 p.m. the 16th Annual Economic Outlook is scheduled. The Outlook features a panel of experts who debate over a broad spectrum of topics, from employment and demographics, to real estate and interest rates. Panelists include Dan Laufenberg, chief economist at Ameriprise Financial; Tom Stinson, Minnesota State Economist; Steve Hine, labor market information director at the Minnesota Department of Employment and Economic Development; and King Banaian, chair of St. Cloud State's department of economics and co-author of the St. Cloud Quarterly Business Report. In addition to providing their customary forecasts for the coming year, the speakers will comment on the global, national, regional, state and local economies.

The Winter Institute ends with a reception and entertainment by comedian, stand-up economist, Yoram Bauman. Bauman has a Ph.D. in economics and is environmental economist for the University of Washington. He performs at comedy clubs, colleges, and corporate events around the world as "the world's first and only stand-up economist." He has appeared in Time Magazine, PBS, and NPR. His presentation is entitled "Comedy, economics, and climate change."

The morning sessions are free and run from 8:30 a.m. until 2 p.m. There is a $12.50 fee for the luncheon and registration is required. The afternoon event is 2:30 p.m. until 7:30 p.m. Registration is $40 with special rates for groups. Registration information can be found at www.stcloudstate.edu/winterinstitute, or for more information please call (320) 308-2157.

The Winter Institute regularly attracts 200-300 business and community leaders and is known for attracting world-class speakers. Ben Bernanke, chairman of the Board of Governors of the United States Federal Reserve, the late economist Milton Friedman and former Federal Reserve chairman Alan Greenspan were all featured speakers in past Winter Institute events. In its 48th year, the Winter Institute is managed by the St. Cloud State Center for Economic Education.

The 48th Annual Winter Institute Schedule of Events - Thursday, March 4,

8:30 a.m. to 2 p.m. - Academic Event - Kimberly Ritsche Auditorium & Atwood Memorial Center

Registration: Free sessions & $12.50 lunch (e-registration required)*

8:30 - Registration & Continental Breakfast, Kimberly Ritche Auditorium, Stewart Hall

9 - Winter Welcome, President Earl Potter, St. Cloud State University, President Kathy Gaalswyk, Initiative Foundation

9:15 - "The Fed at a Crossroads," James Bullard, Federal Reserve Bank of St. Louis

10 - "Engines of Economic Growth," Costas Azariadis, Washington University

10:45 - Break

11 - "Co-opetition," Barry Nalebuff, Yale University

12 - Lunch* in Atwood Memorial Center Ballroom

12:45 - "I Hope We Don't Let a Serious Crisis Go to Waste (But I am Worried)" Chris Farrell, Minnesota Public Radio

2:30 to 7:30 p.m. - Business Event, Best Western Kelly Inn, 100 4th Avenue South, St. Cloud

Registration: $40 per guest | $450 Evolve Table Sponsor

2:30 - Registration

3 - Winter Welcome, President Earl Potter, St. Cloud State University, President Kathy Gaalswyk, Initiative Foundation

3:15 - Interactive Panel Discussion - CEOs Meet the Economists

Costas Azariadis, Washington University; James Bullard, Federal Reserve Bank of St.. Louis; Barry Nalebuff, Yale University; Tom Grones, GeoComm; Jeff Gau, Marco Business Products; Chris Coborn, Coborn's

5 - Cocktails & Hors d'oeuvres

5:30 - 2010 Economic Outlook - Regional, State & National Forecasts, King Banaian, St. Cloud State University; Steve Hine, Minnesota DEED; Dan Laufenberg, Stonebridge Capital Advisors; Tom Stinson, Minnesota State Economist

7:15 - Comedy, Economics & Climate Change, Yoram Bauman, The Stand-Up Economist