Student: Elizabeth Wong
Content Advisor: Mr. Biersach
Faculty Advisor: Mr. Saxena
Driving Questions:
- Why is there such a gender imbalance in corporate finance?
- What factors are perpetuating these circumstances?
- How can we minimize the effects of the gender imbalance that we see?
Preliminary Resources + Activities
Marginal Revolution University – gives online courses on economics (recommended by Mr. Biersach): more focused around labor economics courses / videos
- Marginal Product of Labor – How are wages determined? Why do most Americans earn so much by global standards? What exactly is meant by ‘human capital’? Do labor unions help workers, and if so, by how much? How does discrimination affect labor markets? How is the demand for labor different than the demand for a good? We’ll discuss how to derive the demand for labor based on the marginal product of labor, and use real-world examples — such as the demand for janitors in a fast food restaurant — to illustrate this calculation. We’ll also cover an individual’s labor supply curve vs. market supply of labor.
- Division of Labor: Burgers and Ships – A simple example of hamburgers being made at home versus at a restaurant can help illuminate the explosion of prosperity since the Industrial Revolution. The story of the division of labor and development of specialized tools is not a new one — Adam Smith began The Wealth of Nations with this concept. Yet it still has tremendous explanatory power about the world we inhabit.
- Bonded Labor – explanation of what bonded labor is
- Labor Market Regulation – Does labor market regulation really protect the interests of workers? Or sometimes might it backfire?
- The Rise of Superstar Firms and the Fall of the Labor Share – The “labor share” of GDP has fallen since 2000. Is this another sign that the robots are going to rule our economy? David Autor, an economics professor at MIT, explains the differing explanations for why this is happening. The “labor share” of GDP means the share going to wages, salaries and benefits—as opposed to going to capital (stockholders, business owners, etc.). That money hasn’t gone away, but it has been concentrated in the hands of fewer and fewer people.Why is this happening? Is it because of robots taking work from humans? A lack of competition? Or something else? David Autor explains the answers he discovered in his 2019 study on labor share and superstar firms.
- Women in Economics – video series that highlights the groundbreaking and inspiring work of female economists — not only to recognize the important work they’ve done but to also share their inspirational journeys (includes practice questions to test understanding)
- Women Working: What’s the Pill Got to Do With It? – what effect birth control has over women’s roles in the workplace (includes practice questions to test understanding)
- Labor Force Participation – the change in labor force participation with changing demographics (includes practice questions to test understanding)
Wall Street Journal – periodical which will give more research into workplace gender imbalances
Forbes – reputable magazine on marketing, investment, finance, and industry
- Glass Cliff Challenge for Corporate Governance – gives some more insight on the glass cliff theory
Bloomberg – newspaper that delivers business and markets news, data, and analysis
Professor Interviews / Research
Rafael Dix-Carneiro – Duke professor who focuses on International Trade, Labor Economics and Development Economics, labor market informality, migration, firms’ behavior in response to exchange rate shocks, and crime
Arnaud Maurel – Duke economics professor who focuses on Labor Economics/Education and Microeconometrics
Robert Garlick – Duke Assistant Professor of Economics who focuses on frictions in urban labour markets that distort job search and hiring decisions, and determinants of and returns to human capital investment decisions
Patrick Bayer – economics professor at Duke University whose research includes racial inequality and segregation, social interactions, discrimination, neighborhood effects, housing market dynamics, education, and criminal justice
Hugh Macartney – (Duke professor) focuses on formation of human capital and the role of incentives in personnel settings, as well as on segregation in the education sector and inequality more broadly
Katherine Manuel – has specialties in Corporate Strategy, Change Management, Business Development, Strategic Partnerships, Team Leadership through extensive work at Thomson Reuters and designated as Senior VP of Innovation
Linsey Lebowitz Hughes – (Duke professor) 15+ year Wall Street veteran, with an expertise in the investment alternatives space
Month by Month Plan
| Month | Coursework |
| General | Reading from Wall Street Journal, Forbes, and Bloomberg looking specifically for gender equity articles to read about |
| January | Intro to labor economics Labor Force Participation Marginal Product of Labor Division of Labor: Burgers and Ships Bonded Labor Labor Market Regulation Rafael Dix-Carneiro (Interview) Arnaud Maurel (Interview) |
| February | Labor Economics Effect on Corporate Workplaces The Rise of Superstar Firms and the Fall of the Labor Share Robert Garlick (Interview) |
| March | Gender Imbalances in Corporate Workplaces Women Working: What’s the Pill Got to Do With It? Women in Economics Glass Cliff Challenge for Corporate Governance Patrick Bayer (Interview) Hugh Macartney (Interview) Katherine Manuel (Interview) |
| April | Preventive Measures and/or Solutions Stanford sociologist pilots new method to reduce gender inequality at work Linsey Lebowitz Hughes (Interview) |
| May | Wrap up + presentation |
Expected Final Product
Tutorial presentation of findings and results.