Lee received his Ph.D. from Penn State. His research and teaching interests center on applied econometrics and monetary economics, with a focus on monetary policy analysis. He is currently the director of the South Texas Economic Development Center in the College of Business. He also serves as Chief Economist at the University’s EDA University Center.
"One can hardly pick up a newspaper today, watch a television news program or read an online news service without encountering a number of stories about large, complex problems affecting part or all of the earth's population. From disease pandemics to hunger, civil strife, educational needs, pollution and global warming, among others, there are a host of issues that vie for attention and demand resources. However, as we all know, those resources are limited, which suggests the question: How best to allocate limited resources to return the highest benefit?
For some, this type of benefit/cost question may seem inappropriate for these sorts of problems, especially when we are talking about life-and-death issues. How can we possibly decide that people whose lives are plagued by hunger are more or less worth helping than those who are faced with a life-threatening disease? But the fact is, we have to decide because we can't aid every afflicted person or solve every problem at least at the same time. We have to prioritize.
That's where economics comes in... Economics can help us answer these questions because it offers an analytical tool--benefit/cost analysis--that helps people make choices about these very important matters. It's not perfect, but it's a tool for helping to refine choice."
Chair, Department of Decision Sciences and Economics
College of Business
Texas A&M University-Corpus Christi
6300 Ocean Drive, Unit 5808
Corpus Christi, Texas, USA 78412