The Economics Leadership Council advises the Chair on a broad range of topics, and also serves the student and alumni communities.

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Dr. Anirban Basu, B.S./M.P.P./M.A./J.D./PhD. '90, '92, '98, '03, '20

Chairman & Chief Executive Officer, Sage Policy Group, Inc.

Anirban Basu is Chairman & CEO of Sage Policy Group, Inc., an economic and policy consulting firm headquartered in Baltimore, Maryland with an office in Indonesia. The firm provides strategic analytical services to energy suppliers, law firms, medical systems, government agencies, and real estate developers among others.

In 2014, Maryland Governor Larry Hogan appointed him Chair of the Maryland Economic Development Commission (2014-2021). He also serves as chairman of the Baltimore County Economic Advisory Committee. He is also the Chief Economist to Associated Builders and Contractors and Chief Economic Advisor to the Construction Financial Management Association. He serves or has served similar functions for Visit Baltimore, Maryland Realtors, and Marcum, LLP.

He has lectured at Johns Hopkins University, most recently in Global Strategy, and has also taught international economics, urban economics, micro- and macroeconomics at Hopkins. His radio show can be heard weekdays on 88.1FM, WYPR, Baltimore.

In both 2007 and 2016, the Daily Record newspaper selected Mr. Basu as one of Maryland’s 50 most influential people. The Baltimore Business Journal named him one of the region’s 20 most powerful business leaders in 2010.

Mr. Basu has been on many boards over time, including First Mariner Bank, the Baltimore City Public School System, Port Discovery, the Baltimore School for the Arts, and Union Memorial Hospital. He is currently on the boards of the University of Maryland School of Law, St. Mary’s College, the University System of Maryland Foundation, the Center for Emerging Media, the Lyric Opera House and the Archdiocese of Baltimore School System.

Mr. Basu earned his B.S. in Foreign Service at Georgetown University in 1990. He earned his Master’s in Public Policy from Harvard University’s John F. Kennedy School of Government, and his Master’s in Economics from the University of Maryland, College Park. His Juris Doctor was earned at the University of Maryland School of Law. His doctoral work was completed at UMBC with a concentration in health economics.

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Kabir Chaudhary, B.A. '05
Chief Executive Officer, President, NIKA

Chief Executive Officer and President Kabir Chaudhary is an energetic, forward-thinking leader whose vision, drive, and passion for business are the fuel that have helped catapult NIKA to success in only a few short years. Kabir is responsible for overseeing all business units and guiding the strategic direction of the firm through management of the executive leadership team. Furthermore, his involvement in the NIKA’s business development and marketing efforts has led to substantial revenue growth for the firm.

Throughout his career at NIKA, Kabir has worked in and significantly improved nearly every operational department, including business development, accounting, human resources and marketing. His ability to rapidly decode and master the U.S. government’s contracting process was instrumental in NIKA’s expansion from small business to a world-class service provider working with a diverse set of clients across the globe.

Kabir is a native Washingtonian who graduated from the University of Maryland with an undergraduate degree in economics and earned an Executive MBA from Harvard Business School. Kabir was recognized as one of the top 100 CEOs in Washington by SmartCEO Magazine and named an Ernst & Young Entrepreneur of the Year Award Finalist for 2016.

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Dr. Cindy Clement, Ph.D. '97 Director of Undergraduate Studies (Retired)

Cindy Clement, Director of Undergraduate Studies in Economics from 2006 until 2020, taught various courses and carried out a variety of tasks to strengthen and improve the undergraduate program, including curriculum design and assessment, hiring and mentoring professional faculty and graduate student instructors, supervising academic advisors and supporting economics faculty with expertise in learning technologies and university policies. She served on the University Senate's PCC committee and on the GenEd Math and Analytic Reasoning and Scholarship in Practice Faculty Boards. In fall 2015 she was awarded the Kirwan Undergraduate Award for exceptional contributions to the quality of undergraduate education at the university.

Prior to taking on the position of undergraduate studies director, she was a faculty research associate for 9 years. In that capacity, she authored assessments of legal and economic policy institutions in various developing countries, designed workshops for both domestic and foreign policymakers, contributed to development of new methodologies for measuring corruption, and managed a team of lawyers and economists and development projects around the world.

In retirement, Dr. Clement still teaches online classes in winter and summer terms.

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Dr. Ed DeMarco, Ph.D. '91 President, Housing Policy Council

Ed DeMarco is President of the Housing Policy Council. Prior to joining HPC in June 2017, Mr. DeMarco was a senior fellow in residence at the Milken Institute’s Center for Financial Markets. From 2009 to 2014, Mr. DeMarco was acting director of the Federal Housing Finance Agency (FHFA), where he served as the conservator for Fannie Mae and Freddie Mac and regulator of those companies and the Federal Home Loan Banks. He was named HousingWire Magazine’s Person of the Year in 2012 for his impact on housing finance. Mr. DeMarco’s 28-year career in public service includes executive positions at the Social Security Administration and the Treasury Department. He began his federal career at the General Accounting Office. He earned a B.A. in economics from the University of Notre Dame and a Ph.D. in economics from the University of Maryland.

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John Fitzgerald, B.A. '86
CEO & President, Magyar Bank

John S. Fitzgerald is President and Chief Executive Officer of Magyar Bank, a community bank headquartered in New Brunswick, NJ.  An industry veteran of over 35 years, Mr. Fitzgerald joined Magyar Bank in 2001.  Under Mr. Fitzgerald’s leadership, Magyar Bank has become a premier community bank with the mission of serving all segments of the community in New Jersey.  Magyar Bank is especially focused on helping not for profit organizations in its community, both with monetary donations and the participation of Magyar Bank staff members.  Mr. Fitzgerald was named President and CEO of Magyar Bank in June 2010, and was previously the Bank’s Chief Operating Officer, responsible for the Bank’s branch network, retail deposit and loan operations departments. 

A graduate of the University of Maryland, where he obtained his Bachelors degree in Economics, and the Stonier Graduate School of Banking, Mr. Fitzgerald is involved in numerous community and professional organizations.  He currently serves as Chair of the Board of Trustees for the State Theatre NJ, Chair of the New Jersey Bankers Association and a member of the Dunellen Lions Club. He is also a past Chairman of the Board of the Middlesex County Regional Chamber of Commerce, past President of the North Jersey Chapter of the Risk Management Association, past President for the Community Bankers Association, past member of the Executive Committee of the NJSIAA and a former member of the Dunellen Board of Education.

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Dr. Lucie Lapovsky, Ph.D. '81
Principal, Lapovsky Consulting

Lucie Lapovsky, principal of Lapovsky Consulting, is an economist who consults, writes and speaks widely on issues related to higher education finance, pricing, strategy, governance, and enrollment management. She also specializes in searches for chief financial officers. Her clients include public and private colleges and universities throughout the United States and various companies and organizations throughout the world. Recent clients include the National Association of Independent Schools, Pitzer College, Kiski School, Claremont Graduate University, Agnes Scott, The College of Wooster, La Salle University, Carthage, Point Park, University of the Sciences, Goucher College, Drew University, Loyola New Orleans, Lewis & Clark, University of Findlay, Cabrini and Nomura Securities. In addition, she is actively engaged in research on price resets, tuition discounting and cost containment.

She served as President of Mercy College, a multi – campus institution of 10,000 undergraduate and graduate students with campuses in New York City, Westchester and on-line from 1999 to 2004. Lucie has more than 30 years of experience in Higher Education Finance in both the public and private sectors. Prior to coming to Mercy College, she served as Vice President for Finance at Goucher College, and worked at the University of Maryland at College Park, the Maryland Higher Education Commission, and the Maryland State Department of Budget and Fiscal Planning.

She is the co-editor of three books: Strategic Financial Challenges for Higher Education: How to Achieve Quality, Accountability and Innovation; Roles and Responsibilities of Chief Financial Officers both published by JosseyBass and The White House Project Report: Benchmarking Women’s Leadership. She blogs for Forbes and is the author of more than 200 chapters and articles and is a frequent speaker at major higher education conferences.

Dr. Lapovsky chairs the board of the KnowldgeWorks Foundation and also serves on the boards of the Asolo Theatre, the Education Foundation of Sarasota, American Public University System (chair of Student Affairs Committee), the Tuition Exchange (Treasurer) and the Suncoast International Women’s Forum (Treasurer). She chaired the board of the National Council for Research on Women for many years and served as Treasurer of The White House Project and recently went off of the boards of Cedar Crest College and Western New England University.

She received her B.A. degree from Goucher College, and her M.A. and Ph.D. degrees in Economics from the University of Maryland at College Park. She also attended the new President’s Institute and the Institute for Educational Management at Harvard and the Directors Institute at Duke. Among her many honors, she was the recipient of the Donna Shavlik award from the American Council on Education for Advancing Women’s Leadership in Higher Education in 2016; she was named one of the top 100 women in Maryland in 1999 by the Daily Record and she received the Alumni Award of Honor from Packer Collegiate Institute in NY in 2009.

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Dr. Paul Lengermann, Ph.D. '02
Assistant Director, Household and Business Spending, Federal Reserve Board

Paul Lengermann is an Assistant Director in the Division of Research and Statistics at the Board of Governors of the Federal Reserve System. He also leads the Household and Business Spending section, which is responsible for analysis, forecasting, and research regarding U.S. consumer spending, residential investment, and business fixed investment.

Before joining the section as chief in 2014, he was a senior economist in the Industrial Output section. Outside the Board, Paul has served as a senior staff economist at the Council of Economic Advisers, been a visiting scholar at the East-West Center at the University of Hawaii, and worked as an economist at the Census Bureau’s Longitudinal Employer-Household Dynamics program.

His research has focused primarily on economic measurement—most recently using Big Data to measure consumer spending, as well as on offshoring in U.S. manufacturing and on the determinants of U.S. productivity growth.

Paul holds a PhD and MA in Economics from the University of Maryland and a BS and MS in Industrial and Labor Relations from Cornell University.

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Dr. J. Nellie Liang, Ph.D. '86
Under Secretary of the Treasury for Domestic Finance

Nellie Liang joined the Treasury Department as undersecretary for domestic finance in July 2021. Prior to joining the Treasury, Nellie was the Miriam K. Carliner Senior Fellow in Economic Studies at the Brookings Institution. Before joining Brookings, she served as the founding director of the Division of Financial Stability (2010-17), where she worked to integrate financial stability into the Board’s monetary policy and financial regulatory deliberations. She co-edited the book, First Responders: Inside the US Strategy for the 2007-09 Global Financial Crisis, with Ben Bernanke, Timothy Geithner, and Henry Paulson. She holds a Ph.D. in economics from the University of Maryland, and a B.A. in economics from the University of Notre Dame.

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Dr. Aparna Mathur, Ph.D. ‘05
Senior Research Manager in Economics, Amazon

Aparna Mathur is a Senior Research Manager in Economics at Amazon. In this role, she tracks and conducts research to help identify labor and employment related challenges faced by Amazon’s domestic and global workforce, with a view to informing best policy. She is also a Senior Fellow at Harvard Kennedy School’s Mossavar-Rahmani Center where she is researching safety net issues. Prior to Amazon, she spent a year as a Senior Economist at the Council of Economic Advisers. She joined the Council as part of the COVID-19 response task force at the peak of the crisis in April 2020 and worked with epidemiologists on the health aspects of the crisis, while also tracking the economic downturn that came with the lockdowns. Prior to joining CEA, she was a resident scholar in economic policy studies at the American Enterprise Institute. At AEI, she directed the AEI-Brookings Project on Paid Family and Medical Leave, building bipartisan momentum on paid leave, for which she was recognized in the Politico 50 list for 2017. Her academic research has focused on income inequality and mobility, tax policy, labor markets and small businesses. She has published in several top scholarly journals including the Journal of Public Economics, the National Tax Journal  and the Journal of Health Economics, testified several times before Congress and published numerous articles in the popular press on issues of policy relevance, including on her own blog at Forbes. Her work has been cited in leading news magazines such as the Economist, the New York Times, the Wall Street Journal and the Washington Post. She has regularly provided commentary on prominent radio and television shows such as NPR’s Marketplace and the Diane Rehm Show, as well as CNBC and C-SPAN.  She has been an adjunct professor at Georgetown University’s McCourt School of Public Policy. She received her Ph.D. in economics from the University of Maryland, College Park in 2005, and is currently serving on the University of Maryland Economics Leadership Council. She is also on the Board of the National Academy of Social Insurance, Simply Green and the National Economists Club.

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Dr. Thomas McCarthy, Ph.D. ‘80
Senior Vice President and Managing Director, NERA Economic Consulting

Thomas McCarthy is a Senior Vice President and Managing Director with NERA Economic Consulting, a consulting firm with 28 offices worldwide. He heads up NERA’s Health Care Antitrust Practice where he specializes in the study of antitrust and competition issues in the health care marketplace. He has testified in a number of antitrust cases relating to hospital services, physician services, and health insurance markets and has assisted in federal and state merger reviews of proposed mergers of all types of health care firms. He testified at multiple sessions before the Federal Trade Commission and DOJ Antitrust Division’s joint hearings on Health Care and Competition Law and Policy. Before joining NERA, Dr. McCarthy worked as a Staff Economist for the Federal Trade Commission in Washington, D.C., and as an Assistant Professor of Economics at the School of Economics and Management at Oakland University in Michigan, where he taught, among other courses, health economics. Dr. McCarthy received his Ph.D. in Economics from the University of Maryland in 1980.

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Dr. Lori Melichar, Ph.D. ‘01
Director, Pioneer Project, Robert Wood Johnson Foundation

Lori Melichar, a labor economist, is director of the Pioneer Portfolio at the Robert Wood Johnson Foundation, where she focuses on discovering, exploring and learning from cutting edge ideas and emerging trends with the potential to help create a Culture of Health in America. She is also the host of the Foundation’s Pioneering Ideas podcast.

Over the past 17 years, Melichar has created and managed several programs to focus a broad research community on studies to improve health and healthcare policy and practice, and was a key driver of efforts to advance the science of quality improvement (QI) research and evaluation.

She holds a PhD and MA in economics from the University of Maryland at College Park and a BA in economics from Swarthmore College in Pennsylvania.

Pioneering Ideas Website

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Dr. Ahmed Mushfiq Mobarak, Ph.D. ‘02
Professor of Economics, Yale University

Ahmed Mushfiq Mobarak, a native of Bangladesh, is a Professor of Economics at Yale University with concurrent appointments in the School of Management and in the Department of Economics.

He is a member of the Board of Directors of the Jameel Poverty Action Lab (J-PAL) at MIT, as co-chair of its Urban Services Initiative and of its Environment & Energy Sector work. He is also the academic lead for the Bangladesh Research Program for the International Growth Centre (IGC) at LSE, and Scientific Advisor to Innovations for Poverty Action, Bangladesh.

Mobarak has several ongoing research projects in Bangladesh, Brazil, Chile, India, Indonesia, Kenya and Malawi. He conducts field experiments exploring ways to induce people in developing countries to adopt technologies or behaviors that are likely to be welfare improving. He also examines the implications of scaling up development interventions that are proven effective in such trials. His research has been published in journals across disciplines, including Econometrica, Science, The Review of Economic Studies, the American Political Science Review, Proceedings of the National Academy of Sciences, and Demography, and covered by the New York Times, The Economist, Science, NPR,, BBC, Wall Street Journal, the Times of London, and other media outlets around the world. He received a Carnegie Fellowship in 2017.

Mobarak is currently collaborating with Evidence Action in multiple countries to replicate, test, and scale his research program that encourages rural to urban seasonal migration to counter seasonal poverty. This program, called No Lean Season, is supported by, Good Ventures and the Global Innovation Fund, and the start-up accelerator Y-Combinator.

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Mr. Frank Nitkiewicz, B.S. '83
Executive Vice President, Chief Operating Officer, and Chief Financial Officer, Federal Home Loan Bank of Boston

Frank Nitkiewicz is the Executive Vice President, Chief Operating Officer, and Chief Financial Officer for the Federal Home Loan Bank of Boston (the “Bank”), one of the 12 banks of the Federal Home Loan Bank System, where he has been employed since 1991. The Bank is a cooperative institution that makes secured loans and other forms of credit available to its member financial institutions for the support of housing, community development and economic growth. Mr. Nitkiewicz oversees the Bank’s Treasury, Accounting Control, and Planning & Research functions. He is responsible for oversight of all capital markets activities including funding and liquidity management, management of all investment portfolios, and all hedging activities. He is also responsible for all accounting and financial reporting functions, as well as its budget and financial control functions. Over the course of his tenure with the Bank, he has also been responsible for asset-liability management, bank operations and credit risk management. Mr. Nitkiewicz began his banking career at Shawmut Financial Corporation, where he was an investment officer.

Mr. Nitkiewicz serves as a board member for the Lynn Shelter Association in Lynn, Massachusetts, which provides emergency and family shelter and support services to homeless individuals and families. He also serves as a board member for the North Shore Community Development Coalition in Salem, Massachusetts, which provides affordable housing and neighborhood development services to communities on the North Shore of Massachusetts

He holds a BS in Finance and a BA in Economics from the University of Maryland, and a Master of Management degree from the Kellogg Graduate School of Management at Northwestern University.

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Mr. Neil Moskowitz, B.A, ‘80
CFO Credit Suisse First Boston (retired)

Neil Moskowitz is retired from Credit Suisse First Boston as chief financial officer and head of the investment banking support functions for the investment banking division of Credit Suisse. Based in New York, he was a member of the Investment Banking Management Committee and the Management Council. Mr. Moskowitz received the BSOS Distinguished Alumnus Award in 2001. In 1996, Mr. Moskowitz generously established a series of awards in the Department of Economics, including the Martin Moskowitz Award Fund and the Neil Moskowitz Professorship. He also serves on the BSOS Board of Advisors and as emeritus trustee for the University System of Maryland Foundation.

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Mr. Andrew Palmer, B.A./M.A ’81, ‘84
Chief Investment Officer, Maryland State Retirement and Pension System

Andrew Palmer, CFA is the Chief Investment Officer for the Maryland State Retirement and Pension System. In this role, he is responsible for the day-to-day operations of the System’s investment division and has overall responsibility for the System’s investment program.

Previously he was the Deputy Chief Investment Officer, Director of Fixed Income for the Tennessee Consolidated Retirement System. In addition to his role as Director of Fixed Income, he led the construction of a Strategic Lending Portfolio, was a member of the Private Equity and Real Estate Committees and shared in the responsibility for tactical asset allocation and new product development. He began his career at ASB Capital Management, a Bethesda, Maryland based institutional advisory firm.

Mr. Palmer is a member of the ILPA, has been active in the CFA program and was President of the Washington Association of Money Managers. He received a BA and a MA in Economics from the University of Maryland.

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Nela Richardson, Ph.D. '05
Chief Economist, ADP


Nela Richardson joined ADP as Chief Economist in November of 2020. Nela is the co-head of the ADP Research Institute and leads economic research for ADP. Previously she was Principal and Investment Strategist at Edward Jones, a financial services firm. In that role, Nela analyzed and interpreted economic trends and financial market conditions and recommended investment strategies. Nela is also the former chief economist at Redfin Corp., a national real estate brokerage and technology company, where she led a team of data scientists, economists and writers to track trends in the housing market. Nela also served as a senior economist for Bloomberg, L.P., covering housing and financial markets, and has held research positions at the Commodity Futures Trading Commission (CFTC), Harvard University’s Joint Center for Housing Studies and Freddie Mac. She also worked as an adjunct finance professor at the Carey School of Business at John Hopkins University.

Nela earned a doctorate in economics from the University of Maryland-College Park with concentrations in financial economics, international finance and economic development. She obtained a master’s degree in economics from the University of Pennsylvania and a bachelor’s degree from Indiana University in Bloomington, where she was a triple major in mathematics, economics and philosophy.

Nela regularly provides insight on the economy, real estate trends and capital markets to policymakers, consumers and media. She is a regular contributor to Marketplace from American Public Media and has frequently appeared on CNBC, Bloomberg, Fox Business CNN, Yahoo Finance, the Wall Street Journal, FORTUNE magazine, The New York Times and other national and local media.

Nela serves on the foundation boards for the U.S. Chamber of Commerce and the National Association of Business Economists. She also is a member of the Bureau of Economic Analysis (BEA) Advisory Committee and the Conference of Business Economists.

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Mr. Gary Rozier, B.A. ‘99
Managing Director, Oak Street Real Estate Capital, LLC

Gary Rozier is a Managing Director at Oak Street Real Estate Capital, LLC. Mr. Rozier is responsible for investor relations for institutional investors.

Prior to joining Oak Street Real Estate Capital, Mr. Rozier served as Senior Vice President at Ariel Investments for almost 14 years where he was responsible for institutional business development, client services, and consultant relations. Prior to joining Ariel, Mr. Rozier spent more than five years with Rydex Investments. At Rydex, he held multiple positions in shareholder services and financial advisor sales before being promoted to regional vice president where he oversaw product development and distribution across nine states in the Midwest Region.

Mr. Rozier is on the board of directors for City Colleges of Chicago Foundation, American Red Cross Chicago, a trustee for the Francis Xavier Warde School, and serves on the Investment Committee of Cristo Rey Jesuit High School. Additionally, he is a 2011 Leadership Greater Chicago fellow. Mr. Rozier earned a BA in Economics from the University of Maryland, where he serves on the Board of Visitors, the Economics Leadership Council and was a captain of the rugby team.

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Mr. Todd D. Snyder, B.A./B.S./J.D. '85, '89, '94
Founding Member, Snyder Kearney, LLC

Todd Snyder has over 30 years of legal, financial and due diligence experience. Prior to joining Snyder Kearney, he was a co-president of SK Research, LLC from March 2014 until January 2016, and the founding partner of Snyder Kearney Law Firm LLC (formerly Snyder Kearney LLC) from 2004 until March 2014. Before founding Snyder Kearney, Todd’s experience includes practicing corporate and securities law, and acting as the Vice President of Due Diligence for a registered broker-dealer. Todd is admitted to practice law in the State of Maryland and the District of Columbia and is licensed as a Certified Public Accountant in the State of Maryland. Todd holds a J.D., a B.A. in Economics and a B.S. in Business.

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Dr. Chad Willis Syverson, M.A./Ph.D. ’98, ‘01
Eli B. and Harriet B. Williams Professor of Economics, The University of Chicago Booth School of Business

Chad Syverson is the Eli B. and Harriet B. Williams Professor of Economics at the University of Chicago Booth School of Business. He has been on the University of Chicago faculty since 2001.

His research spans several topics, with a particular focus on the interactions of firm structure, market structure, and productivity. He has authored or coauthored dozens of scholarly articles and is the coauthor (with Austan Goolsbee and Steve Levitt) of intermediate-level textbook, Microeconomics. Syverson is an editor of the Journal of Political Economy, a research associate of the National Bureau of Economic Research, and has served on multiple National Academies committees.

Syverson received a Ph.D. in economics from the University of Maryland in 2001. Before that, he earned two bachelor's degrees from the University of North Dakota in 1996, one in economics and one in mechanical engineering, and worked briefly as a mechanical engineer for Unisys Corporation and Loral Defense Systems.

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Mr. Thomas D. Teles, B.A. ‘92
Goldman Sachs, 1997-2018, Partner 2006

Tom retired from Goldman Sachs Asset Management (GSAM) in 2018, where he was global head of Securitized and Government/Swaps investment strategies and co-head of the Cross-Sector strategy within the Global Fixed Income team. He was also a member of the Fixed Income Strategy Group. Tom joined Goldman Sachs in 1997 as an associate within the Fixed Income, Currency and Commodities Division in New York, where he worked in the Research Department and then as a mortgage trader. He joined GSAM in 2000. Tom was named managing director in 2003 and partner in 2006.

Prior to joining Goldman Sachs, Tom was the assistant investment officer at Travelers Insurance Group from 1994 to 1997.

Tom serves on the board of the Touch Foundation. He earned a BA from the University of Maryland in 1992 and an MBA from the University of Chicago in 1994.