About Professor Magee
Dr. Stephen P. Magee is the James L. Bayless/Enstar Corporation Professor of Finance and Economics and former chairman of the Department of Finance. He earned his PhD in economics from MIT and has taught at the University of California, Berkeley, and the University of Chicago, most recently as a Visiting Professor in 1990, 1991 and 1997. He has been an Associate Editor for 5 academic journals, the National Science Foundation Committee for Economics and the Secretary of Commerce’s Economic Advisory Board.
Magee has worked on the White House staff in Washington and has published over 70 academic articles and three books. His 1989 Black Hole Tariffs book was endorsed by two Nobel laureates in economics (James Buchanan and George Stigler) and the Chairman of the Nobel Committee for Economics, Assar Lindbeck. He has won three major awards in the Graduate School of Business at the Univ. of Texas: in both 1980 and 2000, he was selected the best professor teaching in the first year of the MBA Program and in 1990, he won the award for the top researcher on the faculty based on his research career.
In 2003, he presented an academic paper before Fidel Castro and over 1000 international economists at a conference in Havana, Cuba and then met with Castro for over an hour. He is a four-time player and co-captain of U.S. National Soccer Championship teams: 1999, 2000 and 2001 (men over age 50) and 2005 (men over age 60).
Federal Reserve Chairman Alan Greenspan quoted Houthakker-Magee’s research explaining the decline in the US trade balance over the last 35 years (Business Week, 2-28-2005, p. 29) and in 2004, New York Times columnist Paul Krugman said that this “Houthakker-Magee trade-balance effect is one of the most important empirical regularities in all of economics.”