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Mina Mahmoudi

● E-Mail: ● Tel: (775)303-2535


- Ph.D. Candidate in Economics, University of Nevada, Reno. August 2012 - Expected May 2017
- M.S. Agricultural Economics: Production and Management, August 2010 - June 2012
University of Tehran, Iran.
- B.S. Agricultural Economics, University of Shiraz, Iran. August 2005 - May 2009

Research Interests

Applied Macroeconomics, Financial Economics, Behavioral and Experimental Economics

Working Papers

Mahmoudi M. and Pingle M., “A Growth Model with Unemployment”, Submitted to the Journal of
 The standard descriptive growth model is modified in a straightforward way to incorporate what
Keynes (1936) called the “essence” of his general theory. The essence is the idea that exogenous
changes in investment cause changes in employment and unemployment. We capture this idea by
assuming the path for the capital growth rate is exogenous in the growth model. The result is a
dynamic model comparable to the IS-model of static macro theory. Testing the model using post-
WWII U.S. data, we show our model well explains both the long term growth trend and fluctuations
in unemployment around the trend.

Mahmoudi M. and Guerrero F., “The Transmission of the U.S. Stock Market Crash of 2008 to the European
Stock Markets: An Applied Time Series Investigation”, Published in American Journal of Economics.
 The study investigates the direction and magnitude of the financial links between the European
stock markets and the U.S. stock market before, during, and after the stock market crash of 2008,
with an emphasis on the Central European countries. The results show that there is an immediate
response of the European markets to a price change in the U.S. stock market while the reverse
relationship takes longer to develop. After the financial crisis, the bilateral relationship happens in
a shorter period of time. We show that although the Central European stock markets are segmented
from the U.S. market before the crisis, they become linked during the crisis and stay connected
even after the crisis. Also, the quantitative results of the study show a significantly higher impact
of the U.S. stock market on the Europe stock markets during the recent financial crisis, while this
effect is decreasing after the crisis.

Mahmoudi M. and Pingle M., “Bounded Rationality and Ambiguity”.

 The paper examines the results of a preference experiment aimed at examining the ability of people
to distinguish a better uncertain prospect from a worse uncertain prospect when the difference
between the two is the probability distribution. This tests the extent to which human subjects
perceive ambiguity because of limited cognitive capacity even though there is no ambiguity (as
ambiguity is normally defined).
Professional Experience

Teaching Experiences

University of Nevada, Reno

 Principles of Macroeconomics - Econ 103 - Lecturer January - May 2017
 Principles of Statistics II - Econ 262 - Instructor August - December 2016
 Intermediate Macroeconomics - Econ 303 - Lecturer June - July 2016
 Principles of Macroeconomics - Econ 103 - Instructor January - May 2016
 Principles of Macroeconomics - Econ 103 - Group teaching May - June 2015
 Intermediate Macroeconomics - Econ 303 - Some sessions January - May 2015
 Economics of the Firm - BADM 730 - Some sessions January - May 2015

Teaching Assistant - University of Nevada, Reno August 2012 - Present

 Intermediate Macroeconomics - Econ 303
 Principles of Macroeconomics - Econ 103
 Principles of Microeconomics - Econ 102
 Introduction to Economics - Econ 100
 Principles of Statistics I - Econ 261
 Economics of the Firm - BADM 730
 Pre-Calculus II – Math 127

Research Experiences

Nevada State Controller’s Office August 2015 - Present

 Investigating the optimal size of state government that leads to the maximum economic growth
 Creating a big database for Nevada and designing a new system to access the data
 Providing some book reviews to help build up the monthly State’s economic reports

College of Business - University of Nevada, Reno May - August 2014

 Worked in a team on a research project for Haws/Cirrus Systems LLC
 Developed strategic audit including market research and competitive analysis

University Center for Economic Development - University of Nevada, Reno January - August 2013
 Collected and analyzed the data from Nevada Trich surveys
 Wrote a complete report of the research which was published by the UCED

Research Center of Agricultural Risk and Insurance - Tehran, Iran May 2010 - March 2011
 Conducted a working paper requested by The Agricultural Insurance Fund of Iran
 Verified successful experiments of other countries on the use of private sector in agricultural

Other Experiences

Assistant Book Review Editor, Journal of Behavioral and Experimental Economics March 2015- Present
 Evaluating different books related to the journal topic to be reviewed
 Finding possible reviewers and negotiating with them to write book reviews for the journal

Journal Papers

Mahmoudi M. and Guerrero F. (2016), “The Transmission of the U.S. Stock Market Crash of 2008 to the
European Stock Markets: An Applied Time Series Investigation” American Journal of Economics, Vol. 6,
No. 4, P. 216-225.

Karami O. and Mahmoudi M. (2013), “Estimating Trade-Related Adjustment Costs in the Agricultural
Sector in Iran” Scientific Journal of Agricultural Economics, Vol. 2, Issue 1.

Mahmoudi M. and Chizari A.H. (2013), “Price Relationship between Commodity Exchange Market and
Traditional Market in Iran”, Journal of American Business Review, Cambridge, Vol. 1, No. 2.


Pingle M. and Mahmoudi M. (2016), “Economic Growth and Government Size” Financial Reports, Nevada
State Controller’s Office, Link:

Mahmoudi M., Landis M., Fadali E., and Harris T. (2013), “Nevada Trich Survey Results”, University
Center for Economic Development, Department of Resource Economics, University of Nevada, Reno.


“Bounded Rationality and Ambiguity”, The 92nd Annual Western San Diego, California
Economic Association International (WEAI) Conference. June 2017

“A Growth Model with Unemployment”, The 43rd Annual Northeast West Point, New York
Business & Economics Association Conference. November 2016

“Bounded Rationality and Ambiguity”, Wagner Conference in Decision- Reno, Nevada

making at Research Frontiers. November 2015

“The Role of the Agricultural Sector Economic Productivity in Iran’s Kansas City, Missouri
Development Plan”, Missouri Valley Economic Association Conference, October 2015
52nd Annual Meeting.

“Price Relationship between Commodity Exchange Market and Honolulu, Hawaii

Traditional Market in Iran”, The Economics, Finance, Accounting and May 2013
Management Research Conference.

“Determining the Comparative Advantage of Crops in Cropping Pattern Shiraz, Iran

of Karaj Townships: Using Linear Programming Approach”, The 8th May 2012
Biennial Conference of Iranian Agricultural Economics Society.

Honors and Recognition

- Ranked 3rd among 864 participants in the nationwide university entrance exam for M.S. degree, Iran.
- Studied at a high school affiliated to the National Organization for Development of Exceptional Talents
(NODET), Shiraz, Iran.
Programming Skills

Stata, Eviews, Lindo, Shazam, Minitab, Microsoft Office


Mark Pingle, Ph.D.

Department of Economics
University of Nevada, Reno
Tel: (775) 784-6634

Federico Guerrero, Ph.D. Ron Knecht, MS, JD, PE

Associate Professor Nevada State Controller
Department of Economics State Capitol
University of Nevada, Reno Carson City, Nevada
Tel: (775) 784-6864 Tel: (775) 684-5632
Email: Email: