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Economics Business and Finance

Jeffrey Sundberg

Jeffrey Sundberg

James Kemper Foundation Professor of Liberal Arts & Business & Prof Economics

Economics Business and Finance


Land Economics
Environmental Economics
Corporate Finance
Economics of Higher Education


PhD Economics, Stanford University
MA Economics, Stanford University
BA Economics (with Distinction), Carleton College

Courses Taught

Economics 110: Principles of Economics
Economics 210:  Intermediate Microeconomics
Finance 237:  Introduction to Finance
Economics 260:  Law and Economics
Economics 310: Industrial Organization
Economics 325:  Economics of Land:  Valuation, Use and Taxation
Economics/Environmental Studies 340:  Environmental & Natural Resource
Finance 415:  Corporate Finance Seminar
various Environmental Studies seminars, including North American Wildlife; War and the Environment; Causes and Consequences of the Gulf Oil Blowout; and Environmental Connections: Chicago and New Orleans


“Economic Implications of Differential Taxation for Agriculture in the Intermountain West: Issues and Alternatives,” with Daniel Villar, Andrew Seidl, Lesli Allison, and Hollie Mahowald.  ARPR15-02, Agricultural and Resource Policy Report, Department of Agricultural and Resource Economics, Colorado State University, June 2015, pp. 1-15.

“Birding Economics: Activity and Preferences of Resident and Nonresident Birders in Lake County Forest Preserves,”with Khayrulla Azamov ’15, J. Eliot Barber ’15, and Ben Labaschin ’14. Study commissioned by the Lake County Forest Preserve District, September 2014.

“Preferential Assessment for Open Space,” Public Finance and Management, vol. 14, no. 2, 2014, pp. 165-93.

“Tax Incentives for open space preservation: Calculating the costs and benefits of preferential assessment,”Land Lines, vol. 25, no. 4, 2013, pp. 14-20.

“Using conservation easements to protect Open Space: Public Policy, Tax Effects, and Challenges,”Journal of Property Tax Assessment & Administration, vol. 10, no. 1, 2013, pp. 5-20.

“State Income Tax Credits for Conservation Easements: Do Additional Credits Create Additional Value?,”with Chao Yang (LFC ’11), State Tax Notes, vol. 66, no. 10, 2012, pp. 723-42.

“Measuring the Effect of State Income Tax Incentives on Land Conservation,” State Tax Notes, vol. 48, no. 4, 2008, pp. 295-304.

“Biodiversity, Profitability, and Vegetation Structure in Coffee Agroecosystems of Central Veracruz, Mexico,” with Caleb Gordon (Lake Forest College), Robert Manson (Instituto de Ecologia, Veracruz Mexico), and Andrea Cruz-Angon (Instituto de Ecologia, Veracruz Mexico), Agriculture, Ecosystems, and Environment, vol. 118, 2007, pp. 256-66.

“Voting for Public Funding of Open Space,” working paper, available on line from the Lincoln Institute of Land Policy, September 2006.

“Private Provision of a Public Good: Land Trust Membership,” Land Economics, vol. 82, no. 3, 2006, pp 353-66.

“Tax and Property Value Effects of Conservation Easements,” with Richard Dye. National Tax Association Proceedings of the 99th Annual Conference on Taxation, 2006, pp. 219-24.

“Birding For Vagrants:  A Look At Illinois,” with William Moskoff, Birding, vol. 31, no. 1, February 2001, pp. 35-37.

“A Model of Tax Increment Financing Adoption Incentives,” with Richard Dye, Growth And Change, vol. 29, no. 4, Winter 1998, pp. 90-110.

“Student Research Opportunities:  The Economics of Open Space”, with Lake Forest College students Mitch King and Chris Nyren, in Conference Proceedings, Greening of the Campus II, Ball State University, September 1997, pp. 79-84.

“Fourth Down and Gold to Go? Assessing the Link Between Sports Success and Alumni Giving,” with Robert Baade, Social Science Quarterly, vol. 77, no. 4, December 1996, pp. 789-803.

“What Determines Alumni Generosity?,” with Robert Baade, Economics of Education Review, vol. 15, no. 1, March 1996, pp. 75-82.

“Research Grants:  Who Pays the Overhead?,” Education Economics, vol. 2, no. 1, 1994, pp. 45-64.

“Identifying the Factors That Stimulate Alumni Giving,” with Robert Baade, The Chronicle of Higher Education, September 29, 1993, p. B1.

“The Social Security Cost of Smoking,”with John Shoven and John Bunker, in Wise, David (ed.), The Economics of Aging, National Bureau of Economic Research, University of Chicago Press, 1989, pp. 231-50.

Invited Talks

“Birder Use of Lake County Forest Preserves”, Board of Commissioners, Lake County Forest Preserve District, Libertyville Illinois, November 3, 2014.

“An Economic and Environmental Analysis of Conservation Easements”, George Lamson Memorial Lecture, Carleton College, October 18, 2014.

“The Varying Effects of State Tax Credits on Conservation Easement Donations”, Urban Economics and Public Finance Conference, Cambridge MA, May 4, 2013.

“Using Conservation Easements to Protect Open Space: Public Policy, Tax Effects, and Challenges”, 33rd Annual Legal Seminar, International Association of Assessing Officers, Chicago IL, December 14, 2012.

“Land Values, Market Exchanges, and Modification and Termination”, presented at the Lincoln Institute of Land Policy, February 11, 2011.

“Understanding Conservation Easements as Part of Property Values”, presented at the Lincoln Institute of Land Policy, March 19, 2010.

“An Economics Perspective to Modification and Termination of Conservation Easements”, presented at the Lincoln Institute of Land Policy, February 15, 2008.

“Tax Incentives for Conservation Easement Donations”, December 2006.  National Tax Association Annual Meeting.

“A Study of Land Trust Membership Patterns,” delivered at the Land Trust Alliance Rally, October 14, 2006, Nashville, TN.

“Tax and Property Value Effects of Conservation Easements,” presented at the Lincoln Institute of Land Policy, May 4, 2006.

“Private Provision of a Public Good: Land Trusts and Their Environmental Benefits,” presented at the Lincoln Institute of Land Policy, February 17, 2005.

“Is Open Space a Luxury Good?”, presented at the Illinois Economic Association annual meeting, University of Illinois-Chicago, October 22, 1999.

“Student Research Opportunities: The Economics of Open Spaces”, presented at Greening of the Campus II, Ball State University, September 19, 1997.

“The Status of the Economics Major”, presented at the Associated Colleges of the Midwest Conference on Challenges in the Undergraduate Economics Major, March 8, 1997.

“An Economist’s Approach to the Problem of Global Warming”, presented at the Associated Colleges of the Midwest Conference on Environmental Education and the Liberal Arts, March 12, 1994.

“A Theoretical Assessment of Tax Increment Financing Choices”, presented at the Illinois Economic Association Meetings, October 2, 1993; also presented at a Northwestern University Department of Economics seminar, November 30, 1993.

“The Impact of Quality on Alumni Giving”, presented at the Eastern Economic Association Meetings, March 3, 1993; also presented at the Associated Colleges of the Midwest Development Officers meeting, September 27, 1993.

“Environmental Regulations and Their Economic Consequences: Good News and Bad”, presented at Lake Forest College as part of the series Lake Forest College Looks At The Global Environment@, November 8, 1990.

Other Work

Chair of the Finance and Endowment Committee, International Crane Foundation, 2014present.

Board Member, International Crane Foundation (Baraboo, WI)

Board Member and past President, Liberty Prairie Conservancy (Grayslake, IL)

Various talks about birds and conservation-related issues.

Regular bird walks led for Chicago Audubon Society, Lake Bluff Open Lands, and Liberty Prairie Conservancy.

Awards and Honors

Elected “Great Teacher,” May 2016, May 2010 and May 1996, by Lake Forest College graduating seniors in those classes.

Received the College’s “Trustee Award for Teaching Excellence and Campus Leadership,” August 2008.