Brian Phelan | Photo courtesy of Kathy Hillegonds The Department of Economics welcomes Brian Phelan as its new chair. A longtime faculty member and dedicated educator, Brian Phelan brings a deep commitment to teaching, research, and student success. In this conversation, Brian Phelan reflects on what drew him to the field, shares what he’s most excited about in his new role, and offers advice for students interested in making an impact.
What are some of the things you look forward to in your new role as chair of the economics department?
One thing I’m especially excited about as chair is spending more time connecting with our alumni. Teaching our students over the years has been incredibly rewarding, and it’s always a pleasure to see where their personal and professional journeys have taken them since graduating from DePaul. Our alumni are also a valuable resource for our department. They offer insights into the transition from college to career, help us better understand the opportunities and challenges in today’s labor market, and play a key role in connecting our current students with internships and job opportunities.
How did you become interested in economics?
I was drawn to economics from my very first course as a freshman in college. I immediately loved—and still love—the way economics offers a simple yet powerful framework for understanding behavior and uncovering insights into real-world outcomes. It helped me make sense of why individuals and businesses make the decisions they do, and how those decisions interact to shape broader outcomes in our communities and society. I was also struck by how naturally economics lends itself to thinking about the role of government, prompting me to explore deeper questions about what government can—and should—do. My interest in economics deepened after college, when I began working at NERA Economic Consulting. There, I truly saw the power of using data to support economic reasoning and to quantify key economic relationships. Economic theory alone can be abstract or imprecise, but when paired with rigorous data analysis, its predictions can be tested and the impacts of policy measured with real precision. This experience was eye-opening. I saw first-hand how compelling and influential well-founded economic arguments could be, and it inspired me to pursue a PhD in Economics.
What are some things you enjoy doing in your free time?
I'm an avid outdoors enthusiast who loves staying active and getting out into nature whenever possible. Hiking, backpacking, fishing, and skiing are some of my favorite ways to unwind and explore the outdoors. Fortunately, I’ve passed that love on to my kids and can usually convince one of them to join me on these adventures. I’m especially excited for an upcoming trip in October—a four-day backpacking trek through the Wind River Range in Wyoming with a couple of old college friends. In addition to outdoor adventures, I grew up playing a variety of sports and have recently taken up tennis, which I try to play whenever I get the chance.
What classes will you be teaching this year?
I continue to teach two of my favorite courses: Labor Economics in our MS program and Econometrics (now called Analytics for Economics) in our undergraduate program. Labor Economics combines my passion for economic theory and data analysis. The course is structured around examining several current labor market trends, such as the rise in earnings inequality. For each topic, we start by documenting the trend with data, then explore the economic theories that explain why the trend is occurring, and finally evaluate the empirical evidence supporting different competing hypotheses. This approach brings together the diverse skills taught in our MS program and applies them directly to labor market issues. In the undergraduate course, Analytics for Economics, students are introduced to the regression model and its use in answering descriptive, diagnostic, predictive, and prescriptive questions. A key focus is on understanding when regression estimates reflect causal relationships and can inform prescriptive decisions. Importantly, this course is far from abstract—students regularly work with real data, conducting their own empirical analyses to deepen their understanding.
Tell us about your current research.
I am currently working on a couple of new projects examining the effects of high-skill immigration on labor market outcomes for non-immigrants. While public discourse on this topic often focuses on the direct competition that immigrants may pose, many immigrants have highly complementary skills that benefit non-immigrant workers. For example, computer scientists do not compete with physicians for the same jobs. As a result, an influx of immigrant computer scientists is unlikely to harm physicians’ labor market outcomes and may even improve them by increasing the overall demand for healthcare services. Additionally, this increased demand often extends to other service providers as well. This complementary effect has been recognized for some time, but the challenge lies in measuring exactly who competes with whom, and then separately estimating the impacts of immigrants who are competitors versus those who are not. In these projects, I use college major as a proxy to identify who competes with whom. I estimate the effects of new immigrants with similar college majors (competing immigrants) separately from those with very different majors (non-competing immigrants). Overall, I find that the positive effects from non-competing immigrants are substantial and provide real benefits to non-immigrants. One paper on this topic, co-authored with my former colleague William Sander, is nearing publication. Another project, still in its early stages, is being developed with Kristin Butcher at the Federal Reserve Bank of Chicago.
Why should students major in economics?
Economics is an excellent major for students interested in careers in business, finance, government, policy, or law—or for those still deciding among these paths. It equips students with a powerful framework for analyzing behavior and understanding why certain outcomes emerge in different markets. It also offers a structured way to evaluate the role of government—why it intervenes in some markets but not others—and to assess the effectiveness of those interventions. Additionally, economics is a highly empirical discipline, and students graduate with strong data analysis skills that are in high demand across many industries. The core competencies developed through an economics major will remain valuable even as AI becomes increasingly integrated into the economy. First, economics students build strong quantitative and analytical skills—skills that complement AI rather than compete with it. Second, while AI may disrupt existing systems, economics provides the tools to understand and critically evaluate those systems. This makes economics graduates well-positioned to interpret and respond to change. Finally, the versatility of an economics degree opens doors across a wide range of sectors and roles, giving students the flexibility to adapt and pivot as new opportunities arise.
What advice would you give to students hoping to make a difference in the field of economics, and beyond?
Here’s some advice I often share with students:
Work hard. The diploma you receive after four years is only valuable if your mind has grown along the way. That kind of growth happens when you challenge yourself and put in the effort.
Jump right in. Each quarter—and indeed, all four years—will pass faster than you expect. Many students ease into the term only to be caught off guard by difficult exams. Starting strong from week one will help you stay ahead and avoid surprises.
Ask questions. Treat every class like your own personal tutoring session. If something confuses you, don’t wait until after class to seek clarification. Asking questions in the moment helps you—and your classmates—get more out of the lesson.
Get to know your professors. Grades and interviews only tell part of the story. Employers and graduate programs often rely on faculty referrals and recommendations. Building relationships with your professors can also open doors to new learning opportunities.
Think about your future, but stay open to change. It’s smart to start each year and quarter with goals and a general plan. At the same time, college will expose you to new ideas—be open to revising your goals as you grow and learn.
Get involved outside the classroom. Leadership is hard to teach in a lecture hall but essential in life. The best way to develop leadership skills is by joining clubs and extracurricular activities. They’re fun and offer invaluable experiences.