Money and Banking What Everyone Should Know (Guidebook).PDF

Money and Banking:

What Everyone Should Know

Michael K. Salemi, Ph.D.

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Michael K. Salemi, Ph.D.

Professor of Economics

and Chair of the Department of Economics

University of North Carolina at Chapel Hill

P rofessor Michael K. Salemi is Professor of

Economics and Chair of the Department

of Economics at the University of North

Carolina at Chapel Hill. He has been a member

of the faculty there since 1976 and a Professor

of Economics since 1987. He has held three

distinguished term professorships at UNC–Chapel Hill: Zachary Smith

Professor of Economics from 1993 to 1996 and Bowman and Gordon Gray

Professor of Economics from 1987 to 1990 and again from 2005 to 2010.

As an undergraduate, Professor Salemi studied Economics at St. Mary’s

College in Winona, Minnesota, and received his bachelor’s degree in 1968.

He earned master’s degrees in Economics from Purdue University in 1969

and from the University of Minnesota–Minneapolis in 1973, and he earned

his doctorate in Economics from the University of Minnesota–Minneapolis

in 1976.

At UNC–Chapel Hill, Professor Salemi has taught a wide variety of

undergraduate courses, including Money as a Cultural, Economic, and Social

Institution, a ¿ rst-year seminar he created. He routinely teaches Principles of

Economics and has taught Intermediate Macroeconomic Theory and Money,

Banking, and Financial Markets. To graduate students, Professor Salemi has

taught Advanced Macroeconomic Theory, Monetary Theory, and advanced

seminars in Macroeconomic Policy and Research on Monetary Policy.

Professor Salemi has completed a variety of international assignments

during his career. He was a Research Associate and Visiting Professor at

The Graduate Institute in Geneva, Switzerland, from 1982 to 1983 and 1985

to 1987 and in 2001 and 2002. The Asian Development Bank selected him

as a contributor to seminars on monetary policy for transitional economies

in Beijing in 1991 and in Lao in 1992. Under the aegis of the Swiss State

Secretariat for Economic Affairs, he designed and delivered a technical

assistance and training program at the State Bank of Vietnam in Hanoi in

2004. More recently, he was a visiting fellow at the Hong Kong Institute for

Monetary Research in 2007 and again in 2008.

Professor Salemi is the author of 2 books and more than 60 published

articles in macroeconomics, domestic and international monetary theory,

and economic education. He is the coauthor of Discussing Economics:

A Classroom Guide to Preparing Discussion Questions and Leading

Discussion and Teaching Innovations in Economics . His journal publications

have focused on formulation and estimation of optimal monetary policies,

explanations for high unemployment in Hong Kong, and strategies for

effectively teaching economics to undergraduate students.

Professor Salemi has had a career-long interest in economic education.

While a graduate student, he served as Assistant Director of the Center for

Economic Education at the University of Minnesota–Minneapolis. In 1977,

he created the Teacher Training Program for graduate student instructors of

economics at UNC–Chapel Hill, a program that is widely described as one of

the best of its kind in the world. Professor Salemi has taught in the program

and has helped administer it throughout his career.

An acknowledged expert in economic education, Professor Salemi has

served as an instructor, workshop director, and workshop program director

for national programs in teacher education. He was co-principal investigator

for “Interactive Teaching in Undergraduate Economics Courses: Bridging the

Gap between Current and Best Practices,” funded by the National Science

Foundation from 2004 to 2010. The American Economic Association (AEA)

selected him to serve on its Committee on Economic Education from1981

to 1988, 1990 to 2000, and 2001 to 2007 and to chair the committee from

1994 to 2000. More recently, the AEA chose him and William Walstad

to design, administer, and teach a continuing education program in

economic education.

Professor Salemi has been a featured speaker on the teaching of economics

throughout his career. He has given talks at many colleges and universities,

including the University of Notre Dame, Michigan State University,

Stanford University, Wellesley College, University of Kentucky, and Baylor

University. He has been selected as a featured presenter at many conferences

devoted to economic education.

Professor Salemi has received numerous teaching awards. From UNC–

Chapel Hill, he received the Tanner Award for Teaching in 1980, the

Instructor Excellence Award of the Young Executive Institute in 1986, the

Economics Undergraduate Teaching Award in 1994 and again in 2000, and

the Economics Graduate Teaching Award in 2002.

The recipient of a number of national awards as well, Professor Salemi was

awarded the Bower Medal in Economic Education in 1998 from the Council

for Economic Education. The National Association of Economic Educators

awarded him the Villard Award for Research in Economic Education in

2001. The Gus A. Stavros Center named him a Great Teacher in Economics

in 2007. He is also listed in Marquis Who’s Who in America .

Professor Salemi is married to Ariana Pancaldo and is the father of

Benjamin, Caitlin, and Chiara Salemi. He is an avid squash player and also

an amateur photographer and woodworker. He enjoys hiking, particularly in

the American Southwest. Ŷ

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