The leadership Galambos has provided with the new major and Fox Commons builds on work he has been doing since arriving at Â鶹ӰԺ in 2006. Much of his research has been in microeconomic theory and game theory. 

Galambos holds a Ph.D. in economics and a Master’s in mathematics from the University of Minnesota and a bachelor’s degree in economics and German language from the University of Northern Iowa.

We caught up with him to talk about his interests in and out of the classroom.

In the classroom

Inside info: What’s one thing you want every student coming into your classes to know about you?

I made a deliberate choice to come to teach at a liberal arts college because I believe in the philosophy of education that we embrace here. Learning at a liberal arts college is a community experience that happens through engaging with each other’s ideas, perspectives, and opinions. So, first and foremost, I am looking for intellectual engagement, thinking, questioning, and dialogue in my classes.

Getting energized: What work have you done or will you be doing at Â鶹ӰԺ that gets you the most excited?

I really enjoy teaching my courses, and I feel privileged to be able to do this work. For the past year, I have also been serving in a different role as special assistant to President Laurie Carter, and I have really enjoyed working with colleagues in the Administration and being able to contribute in a small way to the hard work that happens in the background to make it possible for the university to continue to thrive and to serve its mission for many generations of Lawrentians to come. Many of us on the faculty and staff are involved in ambitious projects to take Â鶹ӰԺ to the next level, and I think we are at an exciting and hopeful juncture.

Going places: Is there an example of somewhere your career has taken you (either a physical space or something more intellectual, emotional, or spiritual) that took you by surprise?

The first time I taught First-Year Studies, Chuang Tzu (Zhuangzi) was on the reading list. Reading that and discussing it in class was a revelation, and I revisited it regularly later as well. As for physical spaces, two stand out. Seven years ago, I co-led (with Martyn Smith in religious studies and our then-colleague Dave Hall in chemistry) a group of faculty from liberal arts colleges on a 10-day trip to Silicon Valley. We discovered a lot about innovation, entrepreneurship, spaces, and culture there. Also, teaching at London Centre last year was truly a highlight of my career; I have very fond memories of exploring many fascinating places and spaces there with the wonderful group of students in my courses on markets and on socialism.

Out of the classroom

This or that: If you weren’t teaching for a living, what would you be doing?  

I’ve always been on the more, shall we say, contemplative side, and I’ve always loved to learn, so an academic career was probably always in the cards. I do love baking bread, as well as cooking, and eating, of course… so, who knows, maybe that’s where I would be. 

Right at home: Whether for work, relaxation or reflection, what’s your favorite spot on campus?

The swimming pool is a strong contender, for relaxation, reflection, and balance. But my favorite spot is probably an armchair overlooking the river in the Pusey room, especially when there is an eagle or pelican flying by.

One book, one recording, one film: Name one of each that speaks to your soul? Or you would recommend to a friend? Or both?

Tom Stoppard’s play, Arcadia, is definitely one I feel close to and would recommend. I love how it plays with language and ideas. Spotify says that my top tracks recently are from a 2002 recording of Vivaldi’s Gloria, and Dixit Dominus by the Choir of King’s College Cambridge, and also from Bach’s The Well-Tempered Clavier recorded in 2012 by András Schiff. I have listened to Sviatoslav Richter’s version a lot in the past (and I sympathize with Richter’s notion that one ought to listen to Bach from time to time, if only for “hygienic reasonsâ€�). I have always enjoyed listening to Hungarian Klezmer music, as well as Hungarian Gypsy songs, so here are two recommendations that most people at Â鶹ӰԺ haven’t heard: the album Hit the Piano by the group Parno Graszt (White Horse), and Budapest Klezmer Band’s Gyere táncolj velem (Come dance with me).

As to films, I do like some Ingmar Bergman films a lot, but recognize that they are an acquired taste. On the somewhat lighter side, I enjoy crime dramas, including British classics like Inspector Morse or the Poirot series with David Suchet, and more recent series like Only Murders in the Building.

Afforai is one of four companies selected to be part of Sputnik ATX’s newest cohort. The venture capital fund, which backs early-stage, high-growth startups, announced earlier in August that Afforai would join its portfolio of more than 60 investments.

“Being chosen as one of four companies out of the thousands that applied to join this summer ’23 cohort is an amazing honor,â€� Alec said. “Knowing we’re now part of Sputnik ATX’s family, alongside their 63 other portfolio companies, makes this all the more special.â€�

“I’m deeply grateful to Â鶹ӰԺâ€�

Alec was born in Vietnam and spent much of his life in Japan before coming to the United States to study economics and data science at Â鶹ӰԺ. He and Hung, a student from Vietnam who was studying economics and computer science, met during their first year on campus.

“We both have backgrounds in economics, data science, and software engineering,� Alec said.

Alec and Hung were both involved in Â鶹ӰԺ’s Innovation & Entrepreneurship program, which now features a business and entrepreneurship major. They began developing Afforai during their senior years in advance of the annual Launch LU competition. Alec would place first in Launch LU but for a different startup, one focused on creating a better food container for college food services. The Afforai pitch, meanwhile, was chosen as a wild card selection to advance to The Pitch, a regional competition featuring startup pitches from students at multiple universities in northeast Wisconsin.

They didn’t win The Pitch, but the idea was planted. Alec and Hung then set out to pursue the startup following graduation in June.

“We started with a dream, a vision to make a difference, and this investment symbolizes belief in that vision,â€� Alec said of the Sputnik ATX investment. “It’s a partnership that extends beyond dollars; it’s about shared goals, collaboration, and the drive to innovate.â€�

His experiences as an undergraduate at Â鶹ӰԺ played a big role in building the confidence to take that next step, Alec said. In addition to his studies, he worked for four years as an international admissions ambassador and served as a tutor in both economics and data science.

“Having the opportunity to present my startup at the Launch LU pitch competition, and then advancing to the regional The Pitch competition, has been an invaluable experience,â€� Alec said. “I’ve learned so much about business, networking, and finance. I’m deeply grateful to Â鶹ӰԺ for providing me the stage to hone my skills and work toward success.â€�

Hung served as a tutor in economics and computer science and worked for three years as a community advisor in Student Life. He called his journey through Â鶹ӰԺ empowering.

“If I have to choose one thing to highlight, it would be that Â鶹ӰԺ University created an environment that encouraged independent thinking and learning autonomy,â€� Hung said. “The professors at Â鶹ӰԺ, in various ways, encouraged me to pursue my passion and apply myself in many independent projects.” 

In its announcement of the new investments, Sputnik ATX said of Afforai: “Alec and Hung saw the need for this omniscient learning tool while studying as international students and seeing a massive increase in signal to noise ratios in virtually any knowledge work, compounded by language and culture barriers between Asian and Western organizations.�

As part of the initial investment, Afforai and the other startups will now go through a 13-week training program that focuses on sales, marketing, and scaling their companies and products.

Last summer, Bocanegra worked as an intern with Northwestern Mutual. He loved the opportunity to gain hands-on experience with financial management. He said his personal experience with trading helped him get the position.

“The work I was doing was building retirement portfolios for clients,� Bocanegra said. “If you’re a freshman, and you work for a Fortune 100 company, it’s a huge deal.�

In addition to his work with Northwestern Mutual, Bocanegra was accepted into the Goldman Sachs Investing & Portfolio Management Academy. He was part of the Asset Management Division, beginning in his first year at Â鶹ӰԺ and continuing into his sophomore year. He was assigned a mentor for the duration of the program. The finale was his trip to New York City, where he got to meet his mentor in person and network with other students in the program as they worked on case studies.

The internship and the Goldman Sachs program have meshed beautifully with his studies at Â鶹ӰԺ.

“The economics program is extremely well-managed,â€� Bocanegra said of his time at Â鶹ӰԺ. “Mixing the liberal arts education with economics, how they teach, helps a lot. You learn a whole new way to learn, which is extremely helpful in the long term.â€�

Even outside of the Economics Department, Bocanegra has been able to apply his studies to his entrepreneurial ambitions. He said he loved his environmental studies coursework last year.

“It taught me a lot about the different approaches companies take toward the environment,� he said.

Bocanegra said the skills he gained through his internships have been integral to his personal work as an entrepreneur. The real-world skills he’s built have helped him form and manage his own hedge fund, Bocanegra Asset Management, which focuses on energy equities.

“We have taken a liberal arts mindset to building this major, emphasizing the importance of multiple perspectives and big-picture thinking,� said Adam Galambos, the Dwight and Marjorie Peterson Professor of Innovation and associate professor of economics. “Students will have an opportunity to learn the foundational skills in accounting, marketing, financial management, and entrepreneurship, and connect these to the broader roles of business in society.�

Galambos is one of seven faculty members from across multiple disciplines who have worked for the past year to forge a plan that would build on the strength of the I&E program, giving students who want a liberal arts path to a business major a place to land. The objective is to build a robust major with intellectual integrity that allows students to understand the role of business within society and develop depth within one of four focus areas—entrepreneurship, arts entrepreneurship, business analytics, and natural resources and energy management.

“Students will have an opportunity to learn the foundational skills in accounting, marketing, financial management, and entrepreneurship, and connect these to the broader roles of business in society.�
– Adam Galambos, associate professor of economics

The academic path through the major will introduce students to foundational business skills through core courses. But where it will separate itself from other programs will be the emphasis on multiple perspectives, the connections across disciplines, and the exploration of critical thinking, said Claudena Skran, the Edwin & Ruth West Professor of Economics and Social Science and professor of government who chairs the I&E program.

“The BUEN major requires students to combine learning critical thinking and problem analysis, but also how to put this knowledge into practice through internships and practicums,� she said. “The major appeals to students who want to think about problems and the world, but who also want to take positive action in that world.�

• The entrepreneurship focus area will appeal to students interested in start-ups and self-employment in business or social enterprises.  
• The arts entrepreneurship focus area will appeal to students interested in the business side of music, theater, or studio art.
• The business analytics focus area will zero in on a more quantitative skill set,Ìýwhich ties into Â鶹ӰԺ’s data science curriculum.
• The natural resources and energy management focus area will bring together perspectives from economics, environmental science, politics, and other related fields to understand important contemporary environmental and energy issues, and the role that business can play in tackling them.

It is about developing core business skills while diving deep into a student’s chosen path.

“This major is not just a one-size-fits-all major,� Skran said.

Â鶹ӰԺ’s I&E program was launched in 2014. It created an interdisciplinary concentration for students interested in exploring business ventures—both for-profit and non-profit—that would create positive change in the world. It was not intended to be a business program, but a growing number of students in the ensuing years have indicated an interest in an expanded business program designed through that same liberal arts lens.

That led to the formation last year of a working group that included faculty from Economics, I&E, Government, the Conservatory of Music, Psychology, Religious Studies, Global Studies, and Theatre Arts. With encouragement from President Laurie Carter, they set out to craft an interdisciplinary business major that would build on the gains already made through I&E.

The working group’s proposal was passed in a faculty vote on Nov. 4.

The business major will be integrated into a Â鶹ӰԺ education, including the taking of First-Year Studies and the general education requirements that afford students an overview of diversity and provide them with a global context.

From there, the architects of the major set out to build a program that would blend needed business knowledge and skills with an emphasis on working toward the greater good.

Introductory courses will include Business and Society, Introductory Economics, and Fundamentals of Accounting.

Martyn Smith, associate professor of religious studies, co-chair of Global Studies, and First-Year Studies director, has been leading the development of the new Business and Society course.

“Through this major, students will gain the knowledge and vocabulary to understand the global context of business, and they will be introduced to interdisciplinary content that will give them a long view of the role of business and finance play in our planetary future,� Smith said.

Intermediate courses will focus on perspective and skills with a wide breadth—accounting and finance, marketing, entrepreneurship, and business and the greater good.

Students will then be required to select one of the focus areas that brings a deeper level of engagement and understanding. The program will include a heavy emphasis on internships, practicums, study abroad, or international field experience.

The architects of the plan have proposed the addition of two full-time teaching positions to meet the expected interest in the program. Work is already under way to build the curriculum, with input coming from across academic disciplines.

Students interested in the business and entrepreneurship major can see details at lawrence.edu and are encouraged to reach out to Galambos, Skran or other I&E faculty.

Gamalinda earned a Ph.D. in African cultural studies and a master’s degree in French studies, both at the University of Wisconsin-Madison, and a bachelor’s degree in French language and literature at Amherst College.

Gamalinda was a 2021-22 Andrew Mellon Public Humanities Fellow and was awarded a 2019 Chancellors Pre-dissertator Fellowship at UW-Madison.

Van Nguyen, economics

Nguyen earned a Ph.D. in economics at the University of Kansas and recently did independent research at the University of Paris 1 after receiving the Carol Drever Pimental Award.

Nguyen, who earned a master’s degree in economics from the University of Kansas, has research interests in monetary policy, open macroeconomics, inflation, and welfare.

Marcy Quiason, gender studies

Quiason comes to Â鶹ӰԺ from the University of Kansas after completing a Ph.D. in women, gender, and sexuality studies, with a concentration in political science (international relations and public policy).

Quiason earned master’s degrees in both political science and women, gender, and sexuality studies at Kansas, and holds a bachelor’s degree from Kansas in women’s studies and political science.

Nedderman first learned about TitletownTech from a Â鶹ӰԺ friend who connected with the company through a corporate finance class but felt the position better suited Nedderman’s interests. A professor recommended the company as well a few months later.

As a 2022 graduate just starting his post-Â鶹ӰԺ life, Nedderman felt that TitletownTech was the perfect place to make the jump.

“It was actually a really nice circumstance that just worked out where I was able to get connected through two different sources,� Nedderman said.

These connections are one of Nedderman’s favorite things about Â鶹ӰԺ. He said a few simple interactions with Mike O’Connor—formerly dean of the Career Center and now special assistant to the president—led to a successful internship last summer. And that proved to be a step toward the TitletownTech position after graduation.

“I think the biggest thing we can leverage as Â鶹ӰԺ students and Â鶹ӰԺ graduates is the tight connection that we’re able to have with alumni, with professors, and with our peers,â€� Nedderman said.

Just like Â鶹ӰԺ, Nedderman said he enjoys how connected and intimate the work at TitletownTech can be. Working on a team of nine, Nedderman mostly researches vertical markets, and likes researching the history of the company in his spare time.

“I’m working with people who are not afraid to be wrong or not afraid of being challenged, so it allows everyone to have an openness to new ideas and opinions,� he said.

Nedderman’s favorite things about TitletownTech are the opportunities to learn about the venture capital field and the chance to bring his own perspectives to the table, and have them valued by others.

“In a company that I’m in, I like to feel integral to the process,� he said.

Finding his path

Nedderman said he was determined to not just land a successful career, but a fulfilling one as well. He is a New Yorker who came to the Midwest for Â鶹ӰԺ and post-undergraduate job opportunities. He first pictured a future in tech and started with mathematics and computer science before settling on majors—philosophy and economics—that he felt best fit his interests.

A double-degree student who also played music in the Conservatory during his time at Â鶹ӰԺ, Nedderman said he heard the naysayers who doubted the value of a liberal arts education. But he said interactions with the Career Center and gave him confidence he was heading in the right direction.

“I used the Career Center throughout the entirety of my four years to find opportunities, to work on my résumé, to get good résumé-building skills or LinkedIn profile-building skills,â€� he said. “…I feel that Â鶹ӰԺ set me up tremendously well to do well after school.â€�

Nedderman decided on his majors and then TitletownTech because they combine his interests in technology and economics, and his fascination with the brain and social interaction.

“I’ve been meeting a lot of people…there’s just so much going on all the time,â€� he said of his first weeks on the job. “I live for the differences and excitement around it all.”

TitletownTech has a portfolio of 24 startups, three of which have relocated to the Midwest to be closer to the company.

“To have three companies move physical locations to be here and be a part of this is really outstanding, and we only hope to increase that number over the years,� Nedderman said.

The TitletownTech environment, he said, is a great fit for a Lawrentian.

“I think especially as a college grad, it’s important to find a place that will foster learning,� he said.

According to , the coordinator of Â鶹ӰԺ’s Innovation and Entrepreneurship program, Le’s triumph wasn’t exactly a surprise. For one, he’s a diligent student—the type that will put in the extra hours and fill thousands of cells in an Excel spreadsheet. But he also came prepared.

Le, who graduated in June, participated in an in-class version of the Capsim Challenge in his Topics in Consulting course during Fall 2021, an I&E elective taught by Vaughan. During the term, Le worked with a team of students to brainstorm and implement potential business strategies as they competed against their classmates.

This way, when Le decided to go for the official Capsim Challenge, he knew what he was doing. He used the strategies he learned in class to analyze successes and failures, and then he adapted in order to maximize profits. The ability to combine these procedures with an understanding of econometrics from other courses was critical to his win.

“I knew economic courses would be helpful when I started, but I had no idea how helpful they would be,� Le said. “Just talking to my friends, I realized that I see things in ways my friends couldn’t see.�

“I knew economic courses would be helpful when I started, but I had no idea how helpful they would be. Just talking to my friends, I realized that I see things in ways my friends couldn’t see.�
– Luke Le ’22

Now that he’s on the other side of the challenge, Le feels that he has developed a deeper understanding of real-world economics and competition within a limited field. The opportunity to put his skills into practice is helping him prepare for post-graduate life, which is a key tenet of the I&E program.

As a concentration, I&E allows students to take courses which align with their areas of interest and start putting their academic skills into practice—whatever those skills may be.

“At Â鶹ӰԺ, we teach a lot of analysis, whether it’s econ or math or government or history, we teach a lot of analysis as a whole. I&E just fits right in there,â€� Vaughan said. “It’s the whole Â鶹ӰԺ experience that helps our students do well.â€�

So, with a degree in economics in hand and a growing understanding of the YouTube environment, he set forth to build an even larger audience and a carefully designed business enterprise, based in Glenview, Illinois. He has since produced hundreds of aquarium videos—well-researched, informative, often funny, with high energy and fast cuts—garnering nearly 150 million views over the past three years.

And, as of Dec. 21, one million subscribers.

“It’s crazy,� he said. “For me, to have that Golden Play Button on the way, it’s like a childhood dream. It’s really special.�

Saltwater fish collecting is a niche hobby, but the 24-year-old Mavrakis has found a formula that is as much entertainment as it is educational. You don’t have to be an aquarium buff to enjoy the banter or share in the laughs or appreciate the energy.

“I realized I need to appeal to a broad audience,� Mavrakis said. “How can I make aquariums and marine life interesting and entertaining and educational to everyone? How can I make anyone who just picks up their phone to watch this video be interested?�

He’s traveled to 15 countries to shoot his videos since graduating from Â鶹ӰԺ. He’s sought out interesting people who have stories to share and interesting locales that provide brilliant backdrops. He spent more than two months in Asia shooting dozens of videos because that region of the world supplies such a large percentage of the world’s ornamental fish.

“It’s something that sets me apart from a lot of other creators in my field,� Mavrakis said. “I like to get out there. I like to see and find the things that no one else has seen before.�

Putting his economics background to work, he’s purposefully expanded beyond videos. He didn’t want to be beholden to the ebb and flow of video consumption and advertising. He and Hale expanded Aquashella to three times a year, adding Orlando to the mix. It’s billed as the “world’s premier aquarium festival,� featuring fish, reptiles, and aquatic art.

In December, just as CoralFish12g was about to hit that magical 1 million subscriber mark, Mavrakis launched his own line of small saltwater aquariums, complete with a kit and an instructional video course targeted toward beginners. Pandemic-related shipping delays meant he could only get 50 of the first 200 he ordered, priced at $450 each, but those 50 sold out in three hours. He got another 1,500 emails expressing interest in buying the kit as soon as more become available.

Mavrakis thought it would be fun to deliver a few of the tanks in person, a thank you to those who have been fans of his videos. He didn’t tell them he was coming.

“We got on a plane and went to a few different spots in the United States,� he said. “It was really fun, really cool. And we shot that as a video. Some people were a little awkward because you catch them off guard, but there were a few people who really freaked out. It was so fun. I got to set the tanks up with them.�

Mavrakis has spent much of the past six months expanding his operation. He now has five full-time employees working with him on CoralFish12g. Another five part-time employees work on the Aquashella shows.

The quick growth has been a blessing and a challenge, he said, but he’s establishing an infrastructure that will hopefully allow CoralFish12g and Aquashella to thrive over the long haul.

“It’s hard; creators and creative people in general and small business owners in general experience burnout,� he said. “Managing that is the key. How does this continue to go on even potentially beyond me?�

Mavrakis said his Â鶹ӰԺ experience helped him to prepare for this journey. That includes his experiences as a student-athlete—he played basketball for four years, averaging 9.9 points and 5 rebounds during his senior season. The path wasn’t always easy, he said, but the lessons learned inform decisions he’s now making as a young entrepreneur.

“It was a place that set me up for my future,â€� he said of Â鶹ӰԺ. “I’m very grateful. It ended up being a place that put me in the best position to be successful.â€�