The Shape of Minnesota to Come

Laura KalambokidisWhen you see the word “economics,” maybe the first image that comes to mind isn’t one of parties, loud music, and uproarious good times. Some may regard economics as one of those deep sciences that study aspects of civilization, the findings of which are too impenetrable for the uninitiated to grasp.

Yet while the study of the production and trade of goods and services may be a deep scholastic foray, every person who pays taxes and has an opinion about Minnesota’s future has a vested interest in economics.

“We do an economic and budget forecast twice a year, in November and February,” says Laura Kalambokidis, professor of Applied Economics at the University of Minnesota. “The forecast will tell you what we think is going on in the state economy and labor markets, with personal and business incomes, and how these influence the budget that the state government has to work with.” Previously a financial economist in the Office of Tax Analysis in the US Department of the Treasury, Kalambokidis is Minnesota’s State Economist and the first woman to hold this position.

“The governor and legislature are discussing what they’ll do in the 2018–2019 budget cycle. Everyone will be affected by the next budget,” she says. In her LearningLife seminar State of the State: Understanding Minnesota’s Economy, Kalambokidis will outline the budget forecast and invite participants to discuss their concerns. “By the time this seminar takes place, the forecast will have been released, the governor will have shared his proposed budget, but the Minnesota state budget won’t yet be finalized. People should contact their representatives and legislators about their own priorities.”

What are the risks of such a forecast? What’s the level of uncertainty with such a prediction? Join us March 8Learn More...