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An explanation of the current financial crisis facing the United States will be presented at East Central University Monday [OCT. 6] by two economics and finance experts in ECU's School of Business.

Dr. Jim Rauch and Dr. Zhimin Wang will speak at 6 p.m. in the Estep Multimedia Center on the first floor of the University Center. The presentation is open to the public.

Rauch and Wang will explain, in layman's terms, what the crisis is about, why it happened and the potential impact on Ada and Oklahoma. The presentation will include a brief overview of the housing and mortgage market meltdown and how it led to the current crisis.

They also will explain why certain companies are facing bankruptcy and the impact on the U.S. economy and how it might affect savings, investments, jobs and retirement income.

"These two amazing professors truly have the expertise and knowledge to dissect this situation and provide the Ada community with a clear understanding of what is happening and how it might affect them," said Dr. Micheal Thompson, dean of the ECU School of Business. "Everyone should leave this presentation with a much better understanding of this economic and financial crisis and possible impacts on their jobs, savings and investments."

Rauch, an assistant professor teaching finance and investments at ECU, has a Ph.D. in economics from Colorado State University and a master's degree in monetary economics from University of Nebraska-Lincoln. Wang has a Ph.D. in economics from Southern Illinois University and a master's degree in financial management from the Shanghai University of Finance and Economics. She is an assistant professor teaching economics and finance at ECU.

The mission of the ECU School of Business is to deliver a sustainable educational advantage for a knowledge-based economy. Its vision is to challenge, promote expression, instill self worth, promote integrity and to make a positive difference. The school offers bachelor's degrees in business administration and accounting and a master's degree in accounting.

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