The Macalester Journal of Economics is produced by the Macalester College chapter of Omicron Delta Epsilon, the international honors society in economics. The editors – Kap Mueller (Iowa City, Iowa), Jose Caballero Ciciolli (Asuncion, Paraguay). Pukitta Chunsuttiwat (Nonthabun, Thailand) Morgan Widuch (LaCrosse, Wisconsin) – have done an outstanding job selecting and editing five papers which represent the best scholarship to emerge from our courses this past year.