Associate Professor of Economics
At NAU since 2008
Office Number: 311
Office Hours: MWF 12:30pm-1:30pm; and by appointment
Ph.D., Natural Resource Economics, West Virginia University, 2004
M.S., Agricultural & Resource Economics, West Virginia University, 2003
Ph.D., Political Economy, Nankai Univeristy, China, 1999
B.S., Environmental Chemistry, Nankai Univeristy, China, 1994
Courses Usually Taught
ECO 424 Natural Resources and Climate Change
ECO 324 Environmental Economics
ECO 285 Principles of Macroeconomics
ECO 201 Quantitative Methods
Assistant Professor, South Dakota State University, 2008
Adjunct Assistant Professor, South Dakota State University, 2006-2007
Lecturer, Department of Economics, California State University-Bakersfield, 2005
Area(s) of Emphasis
Selected Recent Publications and Working Papers:
Zhao, X. and Du, D. (2017). Economic Costs of Aggressive Climate Policy. Energy Sources, Part B: Economics, Planning, and Policy, 12(4), 312-317.
Du, D., Zhao, X., and Huang, R. (2017). The Impact of Climate Change on Developed Economies. Economics Letters, 153, 43-46.
Balvers, R, Du, D., and Zhao, X. Temperature Shocks and the Cost of Equity Capital: Implications for Climate Change Perceptions. Journal of Banking and Finance (forthcoming).
Zhao, X. and Du, D. (2015). Forecasting Carbon Dioxide Emissions. Journal of Environmental Management, 160, 39-44.
Zhao, X. (2012). The Impact of Carbon Dioxide Emission Cuts on Income in 23 OECD Countries. International Research Journal of Finance and Economics, 92, 134-140.
Zhao, X. (2011). Is Global Warming Mainly Due to Anthropogenic GHG Emission? Energy Sources, Part A: Recovery, Utilization, and Environmental Effects, 33:21, 1985-1992.
Ng, P. and Zhao, X. (2011). No Matter How It is Measured, Income Declines with Global Warming. Ecological Economics, 70, 963-970.
Zhao, X. and Fletcher, J. J. (2011). A Spatial-Temporal Optimization Approach to Watershed Management: AMD Treatment in the Cheat River Watershed, WV, USA. Ecological Modelling, 222(9), 1580-1591.
Du, D. and Zhao, X. (2016). Financial Investor Sentiment and the Boom/Bust in Oil Prices during 2003-2008. Review of Quantitative Finance and Accounting. doi:10.1007/s11156-016-0553-5.
Du, D., Gunderson, R. J., and Zhao, X. (2016). Investor Sentiment and Oil Prices. Journal of Asset Management, 17, 73-88. doi:10.1057/jam.2015.39.
Du, D., Hu, O., and Zhao, X. (2016). Currency Risk Premium and US Macroeconomic Announcements. Journal of Financial Research (Tier 1), 39(4), 359-388.
Zhao, X., Gerety, M., and Kuminoff, N. Revisiting the Temperature-Growth Relationship using Subnational Data from Earth. Working Paper.
Zhao, X., Du, D., Xiong, J., Winkler, B., Springer, A., and Lopez, S. An Econometric Analysis of the Impact of Forest Restoration on Agriculture in the Verde River Watershed, Arizona. Working Paper.
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