Business and Economics

Photo of Andrew Economopoulos in a library
Photo of Andrew Economopoulos in a library

Andrew Economopoulos

Dr. Economopoulos was the operations manager of the family business before returning to academia. In the classroom he integrates real-world decision making with economic concepts taken from his own experiences and from the organizations for which he consults. He consults with nonprofit organizations in the area of financial planning, portfolio management, and gambling policy. Outside of the classroom Dr. Economopoulos advises several clubs: Association of Christian Athletes, College Republicans, and YTL. He has supervised over 25 honors students and has published several articles with students. His current research effort is in the area of gambling policy in the United States, and historical banking in Illinois pre-Civil War. He has supervised numerous student independent research projects on technical indicators.

Dr. Economopoulos also directs the Gladstone Whitman Program at Ursinus College. The Program engages students to understand the value of a free market society. The program sponsors speakers, films, student research, internships and study abroad.


Business and Economics


  • B.A., SUNY Fredonia
  • M.A., Virginia Tech
  • Ph.D., Virginia Tech


  • Contemporary Economic Issues
  • Principles of Macroeconomics
  • Intermediate Macroeconomics
  • Econometrics
  • Introduction to Finance
  • Corporate Finance
  • Advanced Finance
  • Summer Study Abroad - Economies in Transition

Research Interests

  • Free Banking
  • Financial Market Efficiency
  • Analysis of the Gambling Market

Recent Work

Working Papers

The Economic Impact of Ursinus College.

Soothsayers and Crystal Balls: Forecasting Banknote Prices in Illinois.

 Recent Publications

An Examination of Illinois Free Bank: Bank Ownership, Operations, and Free Bank Failures. Essays In Business and Economic History, forthcoming.2021 

Caught in the Headlights: Revising  the Road Kill Hypothesis of Illinois Free Bank Failures. Essays in Economic and Business History, Spring 2017 (with Scott Clayman and Scott Deacle)

Did Casinos Cannibalize of Lottery Revenues in PA? Pennsylvania Economic Review, Spring 2012  (with student co-author William Stolle)

Mid-Atlantic Competition of Casino Revenues: A Spatial AnalysisUNLV Gaming Research and Review Journal.  Spring, 2015
Revisiting the Impact of Casinos on Economic Development: A Spatial Analysis of the Counties in the Mid-Atlantic Region, Journal of Gambling Business and Economics. Spring 2015

Opposing the Lottery:  Forces Behind Individual Attitudes towards Legalization in 1975. ?International Gambling Studies?, 2006 

Free Banking Publications

Political Barriers and Transmission of Monetary Policy During the Free Banking Era?Pennsylvania Economic Review, Fall 2003

Bank Entry During the Antebellum Period, Journal of Money, Credit, and Banking, 1995

A Discriminating Taste for Money: An Examination of the New York Antebellum Banking Market, in Money: Lure, Lore, and Literature, Greenwood Press, 1994

Free Bank Failures in New York and Wisconsin: A Portfolio Analysis.  Explorations in Economic History, July 1990

Illinois Free Banking Experience, Journal of Money, Credit and Banking. 1988 

The Free Banking Era: A Period of Deregulation or Re-regulationNew York Economic Review, Spring, 1987

Reserve Requirements and the Free Banking ExperienceAtlantic Economic Journal, December, 1986

Finance Publications

The Impact of SPDR’s on the S&P Cash and Futures Markets.  Investment Management and Financial Innovation, May 2005

In Search for Bubbles: An Examination of the NYSE IndexPennslyania Economic Review, Spring 2001, Co-Authored with Avinash Shetty (Class of 2001)