2011-2012 Life Experiences in Mathematics
Dr. Ray Perryman (Baylor '74, Mathematics) was the third speaker in the Life Experiences in Mathematics lecture series when he visited Baylor University on March 21, 2012. The title of his lecture was "Madmen and the Village Watchman - Mathematics in the Trenches of Economics and Public Policy".
Besides holding a BS degree in Mathematics from Baylor, Dr. Perryman earned a PhD in Economics from Rice University. Dr. Perryman has held numerous academic positions in his career including ten years as Herman Brown Professor of Economics and five years as University Professor and Economist-in-Residence at Baylor University, as well as five years as Business Economist-in-Residence at Southern Methodist University.
Dr. Perryman is Founder and President of The Perryman Group (TPG), an economic and financial analysis firm headquartered in Waco, Texas. He is widely regarded as one of the world's most influential and innovative economists. His complex modeling systems form a basis for corporate and governmental planning around the globe. His thousands of academic and trade articles and presentations span a wide variety of topics, gaining him international respect and acclaim. He has also authored several books, including Survive & Conquer, an account of the Texas economy during the turbulent 1980s, and The Measurement of Monetary Policy, a treatise on Federal Reserve activity. A popular speaker, he addresses hundreds of audiences throughout the world every year.
Among Dr. Perryman's numerous awards are (1) the Nation's Outstanding Young Economist and Social Scientist, (2) the Outstanding Young Person in the World in the Field of Economics and Business, (3) one of the Ten Outstanding Young Persons in the World, and (4) the Outstanding Texas Leader of 1990. During his nearly 30 years of experience, he has been presented citations for his efforts from both the Congress of the United States and the Texas Legislature. He has been honored by (1) The Democracy Foundation for his role in promoting capitalism in mainland China, (2) the Asia and World Institute for his efforts to encourage international academic exchange, and (3) the Systems Research Foundation for his contributions to the field of economic modeling. He is a Fellow of the International Institute for Advanced Studies and has received the Institute's prestigious Lifetime Achievement Award.
Dr. Perryman authors The Perryman Economic Forecast, a subscription service detailing projections of state and metro area business activity, and The Perryman Report & Texas Letter, a succinct newsletter providing vital information about various aspects of the Texas economy. Dr. Perryman also writes a weekly syndicated column, The Economist, and hosts a daily syndicated radio commentary on economic affairs, “The Perryman Report.” In former positions as a research chair-holder, University Professor, and Economist-in-Residence at Baylor University and Business Economist-in-Residence at Southern Methodist University, Dr. Perryman pioneered the use of timely and reliable economic information for a spectrum of strategic purposes. His studies have played a role in the creation and retention of hundreds of thousands of jobs.
Cited by major media as “a world-class scholar” and “the most quoted man in Texas,” Ray Perryman is an active participant in the state, national, and world economic scenes. He has been a member of dozens of state, federal, and international task forces, served as editor of both academic and trade journals, and led conferences within the fields of economics, statistics, forecasting, modeling, and simulation. A member of several corporate boards and advisor to numerous governmental leaders, Dr. Perryman has been honored by the Texas Legislature for his “tireless efforts in helping to build a better Texas.”
Wednesday, March 21, 2012 at 3:30 pm - Kayser Auditorium, Hankamer School of Business
Title: Madmen and the Village Watchman - Mathematics in the Trenches of Economics and Public Policy
Abstract: Although many of the most prominent participants in the process likely do not realize it, mathematics is a driving force in much of rational economic decision-making and the formulation of key public policy initiatives. Drawing on 30 years of experience in quantitative analysis and its use in “real world” applications on a global scale, this underlying phenomenon is described and illustrated. Large-scale simulation models, general equilibrium models, game theory, input-out systems, and optimization techniques form an integral component of the daily ebb and flow of economic activity and policy. Examples will be provided from areas such as economic development, intellectual property, international trade, cultural policy, health care, and various public policy issues. An overall perspective on the importance of mathematics and its indispensable role in social progress is offered.