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Lewis Mandell

Professor Emeritus
Finance and Managerial Economics Department
 

Lewis Mandell is the author of 21 books relating to the finances of consumers, his latest being "Financial Literacy: Improving Education" published in Fall, 2006. That book is based on Dr. Mandell's benchmark nationwide studies of the personal finance skills of young adults throughout the United States, conducted for the Jump$tart Coalition for Personal Financial Literacy.

The results of those studies, conducted in 1997, 2000, 2002, 2004 and 2006 show that a majority of students graduate from high school without an adequate understanding of money and finance, which can often lead to financial difficulties later in life. Dr. Mandell's work on this subject has been reported nationally by NBC News, National Public Radio, The New York Times, USA Today, The Washington Post, CNN and other media throughout the country. The August 2006 issue of Money Magazine has an article reviewing his work on this issue. In 2004 he received the William E. Odem Visionary Leadership Award in financial literacy, the highest award in the field.

From 1998 to 2001, Dr. Mandell served as dean of the University at Buffalo's School of Management, leading a successful effort to improve the school's national and regional reputation, as well as its educational facilities. In 2004, he was named "Teacher of the Year" by the Undergraduate Management Association and in 2007 he received the SUNY Chancellor's award for outstanding teaching. Previously he served as dean of the School of Business at Marquette University, Director of Economic Research for the U. S. Comptroller of the Currency and Director of the (nationwide) Surveys of Consumer Finances at the University of Michigan.

He is a member of the board of directors of Delaware North Companies, the Jump$tart Coalition for Personal Financial Literacy and the American Financial Services Association Education Foundation for which he completed an online, interactive textbook "MoneySKILL" which is offered without charge to teachers and professors throughout the world. He has served as a consultant for such clients as Aetna, American Express, Citigroup and General Motors. He served as a member of the Standing Committee for the new national examination in Economics which was administered by the Department of Education in 2006 as part of "No Child Left Behind."

Dr. Mandell has published numerous articles in the top business and economics journals including the Journal of Finance, the American Economic Review, the Journal of Marketing Research and the Journal of the American Statistical Association. He was the founding editor of Financial Services Review, the leading academic journal relating to the finances of the individual. He earned a bachelor's degree from City College of New York, a master's degree from Northwestern University and a doctorate from the University of Texas.

A list of Dr. Mandell's publications relating to financial literacy is given in chronological order, below.

  1. 1970 Survey of Consumer Finances (with George Katona and Jay Schmiedeskamp), Ann Arbor: Institute for Social Research, l97l.
  2. "Consumer Perception of Incurred Interest Rates: An Empirical Test of the Ef­ficacy of the Truth?in?Lending Law," Journal of Finance December, l97l.
  3. Credit Card Use in the United States Ann Arbor: Institute for Social Research, l972.
  4. 1971 Surveys of Consumers (senior author, with George Katona, Jay Schmiedeskamp, and James N. Morgan), Ann Arbor: Institute for Social Research, l972.
  5. "The Changing Role of the American Consumer," Michigan Business Review January, l972.
  6. "Changing Consumer Needs: Problems and Opportunities for Small Business," The Journal of Small Business Management December, l972.
  7. "The Changing Role of the American Consumer," in Britt, Steuart Henderson and Harper W. Boyd, Jr., Marketing Management and Administrative Action 3rd Edition, New York: McGraw Hill, l973.
  8. "Consumer Knowledge and Understanding of Consumer Credit," Journal of Consumer Affairs Summer, l973.
  9. "Consumer Knowledge and Opinions of Consumer Credit," Journal of Consumer Credit Management Fall, l973.
  10. Economics from the Consumer's Perspective Palo Alto: Science Research Associates, l975.
  11. Bank Cards (with Neil Murphy), Washington, D.C.: American Institute of Banking, l976
  12. "Diversion of Credit Life Commissions by Bankers" (with Lorman L. Lundsten), Journal of Bank Research Summer, 1977.
  13. "The New Home Economics," in Parsons, Talcott, Tamara Hareven and Lewis Mandell, Changing Economy of the Family Washington, D.C.: American Council of Life Insurance, l978.
  14. "Discrimination in Mortgage Lending" (with Harold Black and Robert L. Schweitzer), American Economic Review May, l978.
  15. "Consumer Response to Restructured Financial Institutions: The Case of Maine" (with Neil Murphy), Journal of Money, Credit and Banking February, l979.
  16. Consumer Economics Palo Alto: Science Research Associates, l98l.
  17. "Sophisticated Financial Planning for Bank Customers: A Cost-Effective Delivery," Bank Marketing March, l983
  18. The Credit Card Industry - A History Boston: G. K. Hall ?Twaine Publica­tions, 1990.
  19. "Another Look at Consumer Sentiment," Public Perspective, January/February, 1992.
  20. "Nobody Gains from Dollar Cost Averaging," (with John Knight) Financial Services Review, September 1992
  21. "Reshaping Retirement," The Connecticut Economy, April, 1994
  22. "Optimal Holding Period for Assets That Must Be Liquidated," (with John Knight), Financial Services Review, Fall, 1995.
  23. Fundamentals of Financial Planning (published as Etext), 1995, 2004
  24. "A Jump Start for Personal Financial Literacy," Credit, September /October 1996.
  25. Our Vulnerable Youth: The Financial Literacy of American 12th Graders Washington, D.C.: Jumpstart Coalition, 1998
  26. Improving Financial Literacy: What Schools and Parents Can and Cannot Do Washington, D.C.: Jumpstart Coalition, 2001
  27. "Dumb and Getting Dumber," Credit Union Magazine, Savingteen Supplement, January 2001
  28. "Financial Literacy in the U.S. and Efforts toward Credit Education," in Durkin, Thomas and Michael Staten, The Impact of Public Policy on Consumer Credit, Boston: Klewer Academic Publishers, 2002.
  29. "Jumpstart's 12 Principals and the 80/20 Rule," Credit Union Magazine, Savingteen Supplement, January 2002
  30. Financial Literacy, a Growing Problem: Results of the 2002 National Jump$tart Survey Washington, D.C.: Jumpstart Coalition, 2003
  31. Money Skill: An Interactive Etext for High School Seniors and College Students Washington DC, AFSA Education Foundation, 2003, 2006
  32. "Plotting the Future," Credit Union Magazine, Savingteen Supplement, January 2003
  33. Financial Literacy: Are We Improving? Results of the 2004 National Jump$tart Survey Washington, D.C.: Jumpstart Coalition, 2004
  34. "A Dream of Financial Literacy," (with Maykala Hariharan) Credit Union Magazine, Savingteen Supplement, January 2004
  35. "Financial Literacy, Financial Failure and the Failure of Financial Education," Proceedings of the Academy of Financial Services Eighteenth Annual Meeting, October 2004
  36. "The Connection Between Saving and Financial Literacy," Credit Union Magazine, Savingteen Supplement, January 2005
  37. "Financial Literacy? Does it matter?" Presented at the ACCI Annual Meeting, Columbus Ohio, April, 2005
  38. "The Financial Literacy of Young African-American Adults" a report prepared for Operation Hope, April, 2005, 2006
  39. "Does Just in Time Instruction Improve Financial Literacy?" Credit Union Magazine, Savingteen Supplement, January 2006
  40. "The Impact of Financial Literacy Education on Subsequent Financial Behavior," working paper, January, 2006
  41. "Gender Differences in Personal Financial Literacy: A Comment,
    working paper, March, 2006
  42. "Financial Literacy: If it's So Important, Why isn't it Improving?" in Assessing Adult Financial Literacy and Why it Matters, Indianapolis: Networks Financial Institute at Indiana State University, 2006
  43. Financial Literacy: Improving Education Results of the 2006 National Jump$tart Survey Washington, D.C.: Jumpstart Coalition, 2006
  44. "Four Keys to a Model Youth Program," Savingteen, January 2007
  45. "Teaching Old Dogs New Tricks," Savingteen, January 2007
  46. "Motivation and Financial Literacy," (with Linda Klein) Financial Services Review, forthcoming, 2007
  47. "Financial Literacy: Does it Matter?" in Lucey, Thomas A. and Katherine S. Cooter Financial Literacy for Children and Youth. DigitalTextbooks.biz, 2008
  48. "Teaching Young Dogs Old Tricks: The Effectiveness of Intervention in Pre-High School Grades," in Lucey, Thomas A. and Katherine S. Cooter Financial Literacy for Children and Youth. DigitalTextbooks.biz, 2008
  49. Financial Literacy of High School Seniors in Jing J. Xiao (editor) Advances in Consumer Financial Research New York: Springer Publishing 2008
  50. "High School Financial Literacy," in Anamaria Lusardi (editor) Overcoming the Savings Slump. How to Increase the Effectiveness of Financial Education and Savings Programs
    (forthcoming) University of Chicago Proess, 2008

 

Contact Information

Lewis Mandell
Professor Emeritus
Finance and Managerial Economics
School of Management
University at Buffalo
347 Jacobs Management Center
Buffalo, NY 14260-4000

Tel: 716-645-3293

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