David Stockman

Professor of Economics

Department: Economics
Campus Address: 414 Purnell Hall
Newark, DE 19716
Phone: 302-831-1903


Research Interests:

  • Macroeconomics
  • Optimal fiscal and monetary policy
  • Indeterminacy and chaos in dynamic general equilibrium models


  • Ph.D., Economics, University of Chicago
  • B.A., Mathematics and Economics, University of Missouri
  • Curriculum Vitae
  • Website


  • "Fixed points imply chaos for a class of differential inclusions that arise in economic models,'' (with Brian Raines), Transactions of the American Mathematical Society, Vol. 364, No. 5, pp. 2479-2492, May, 2012.
  • "Chaos and Capacity Utilization under Increasing Returns to Scale," Journal of Economic Behavior & Organization, Vol.77, No.2, pp. 147-162, 2011. 
  • "Chaotic Sets and Euler Equation Branching,'' (with Brian Raines), Journal of Mathematical Economics, Vol. 46 (2010), pp. 1173-1193.
  • "Basins of Measures on Inverse Limit Spaces for the Induced Homeomorphism," (with Judy Kennedy and Brian Raines),Ergodic Theory and Dynamical Systems, Volume 30, Issue 04, August 2010, pp. 1119-1130.
  • "Balanced-Budget Rules: Chaos and Deterministic Sunspots," Journal of Economic Theory, Volume 145, Issue 3, May 2010, pp. 1060-1085.
  • "Chaos and Sector-Specific Externalities," Journal of Economic Dynamics & Control, Volume 33,   Issue 12, pp. 2030-2046 ,December 2009.
  • "Uniform Measures on Inverse Limit Spaces," Applicable Analysis, Applicable Analysis, Volume 88, No. 2, pp. 293--299, February 2009.
  • "The Inverse Limits Approach to Chaos," (with Judy Kennedy and James Yorke),Journal of Mathematical  Economics, Volume 44, Issues 5-6, pp. 423--444, April 2008.
  • "Chaotic Equilibria in Models with Backward Dynamics," Journal of Economic Dynamics and Control, Vol. 32, 939–955, 2008.
  • "Sunspots in a Cash-in-Advance Model: A Quantitative Assessment," Journal of Macroeconomics, Vol. 29, Issue 1, pp. 123-144, March 2007.
  • "Inverse Limits and an Implicitly Defined Difference Equation from Economics" (with Judy Kennedy and James A. Yorke),Topology and Its Applications, Volume 154, Issue 13, 1 July 2007, pp. 2533-2552.
  • "Money as Real Options in a Cash-in-Advance Economy" (with Stacie Beck), Economics Letters, Vol. 87, pp. 337-345, 2005.
  • "Default, Reputation and Balanced-Budget Rules," Review of Economic Dynamics, Vol. 7, No. 2, pp. 382-405  April 2004.
  • "Balanced-Budget Rules: Welfare Loss and Optimal Policies," Review of Economic Dynamics, Vol. 4, no. 2, April, 2001.


  • Macroeconomics
  • Mathematical Economics

The Lerner College is home to a state-of-the-art financial trading facility, the $1.5 million student-led Blue Hen Investment Club, a student-managed restaurant and hotel, a high-technology development center of a global bank and a start-up experience for students with new business ideas.

Undergraduate scholarships, made possible through the generosity of alumni and friends, enable us to support promising scholars. Here, Delaware Gov. Jack Markell and his mother, Leni Markell, join recipients of the William Markell Scholarship (center), which benefits students in Accounting and MIS.

The Institute for Financial Services Analytics is a collaboration between the Lerner College, UD's College of Engineering and JPMorgan Chase, and hosts events for academics and the business community designed to address consumer analytics and industry applications.

All Lerner College departments offer discovery learning experiences and emphasize data-based analytics to enrich the student experience. Here, students at Vita Nova, our award-winning restaurant run through HRIM, joined professional chefs and winemakers in hosting a 2014 Mid-Atlantic Wine and Food Festival event.

Lerner College faculty - like Meryl Gardner, whose research on foods and moods was recently published in the Journal of Consumer Psychology - are thought leaders who command attention from influential business audiences, economists and policy makers.

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