Department of Economics hosts 5th annual New Mexico Economics Research Day

The Department of Economics recently hosted the 5th Annual New Mexico Economics Research Day. This event brought together state legislators and UNM faculty and students to experience four research projects focused on municipal water use, cannabis legalization, agricultural water conservation, and the transition from natural gas to electric power that affects the people of New Mexico.

The newly appointed chair of the Department of Economics, Matías Fontenla, provided opening remarks on how economics-centered research personifies the department's mission. He emphasized the importance of state-funded initiatives that improve the lives of New Mexicans. The projects presented during Economics Research Day were collaborations between UNM faculty, graduate students, and undergraduates, and Fontenla expressed the importance of faculty mentoring the next generation of economists.

UNM Provost and Executive Vice President for Academic Affairs Barbara Rodríguez echoed this sentiment, emphasizing how economics research "can make a meaningful difference to New Mexico." She highlighted UNM's role as the state's flagship university and the importance of place-based research. Rodríguez also praised the involvement of graduate and undergraduate students and the interdisciplinary nature of the work, noting that students should have opportunities to understand how their education can contribute to the communities around them. "The economics program is a wonderful example of that responsibility and action."

John Fleck, writer-in-residence at The Utton Center, UNM School of Law, opened the presentations by sharing the project "Streetlights and Tradeoffs: Better Understanding Water Use and Values in the Middle Rio Grande Valley." Fleck and his team's research examined how water is used and valued in New Mexico's Middle Rio Grande Valley as the region confronts climate change, declining river flows, and increasing water scarcity.

"Cannabis Legalization and Commercial Driver Availability," presented by Principal Investigator and Associate Professor Sarah Stith, highlighted how adult-use cannabis legalization affects employment and wages among commercial drivers, a workforce already facing nationwide shortages.

Associate Professor Jingjing Wang shared her team's research, "Agricultural Water Users' Preferences for Water Conservation Programs in the Middle Rio Grande Basin." Wang and her team surveyed more than 2,000 agricultural water users to understand the challenges they face amid increasing water scarcity and their preferences for conservation and water-management strategies in the Middle Rio Grande Basin.

Students in the Department of Economics also had the opportunity to present their research during the event, where attendees were prompted to vote for their favorite posters. Ana Paula Milán Hinastoza was selected as the winner for their research "The Impact of Large Beer Excise Tax Increases on Traffic Fatalities." Jiaqing Zhao was awarded second place for their project, "Energy Rebound Effect of Residential Solar Adoption", and Jinyang Liu received third place for their work, "Effects of the US-Mexico Long-Haul Program on the Labor Market of U.S. Border States."

You can learn more about this event and the research by faculty, students, and researchers at the Economics Department here.