Faculty Profile

Masud Alam, Ph.D.

Professor

Contact Information

  • Office Address: Professor Institute of Shahjalal University of Science and Technology, Sylhet-3114, Bangladesh
  • Phone: +8801770340474
  • Email: masudalam-eco@sust.edu

Biography

Dr. Masud Alam is an economics professor who began his academic career in 2004 as a lecturer at Shahjalal University of Science and Technology (SUST) in Sylhet, Bangladesh. He holds a Ph.D. in Economics and Applied Econometrics, as well as an MA in Economics from Northern Illinois University, USA. Dr. Alam also completed an MA in Economics through the Erasmus Mundus joint master's degree program, studying at both Antwerp University in Belgium and Staffordshire University in the UK, graduating in 2008. He earned his BSS and MSS in Economics from the University of Chittagong in 2000, graduating with first-class-first position. Additionally, Dr. Alam holds an LLB from Bangladesh.

Dr. Alam’s research interests encompass macroeconomics, financial economics, empirical asset pricing, real estate finance, and applied time series and financial econometrics. His work has been published in respected academic journals, including Empirical Economics, Journal of Real Estate Finance and Economics, International Review of Financial Analysis, S N Business and Economics, Investment Analysts Journal, and the Handbook of Climate Change Management.

Beyond his academic work, Dr. Alam has served as a fiscal policy consultant to the Government of Bangladesh and the United Nations Development Programme (UNDP), contributing to the formulation of the Bangladesh Climate Fiscal Framework 2014. This framework provides principles and tools for climate fiscal policy-making (CFP) and aims to improve the transparency and sustainability of climate-related fiscal policies in the long term. He has also provided guidance to several Bangladeshi non-governmental development organizations on integrating climate budgeting into sustainable development strategies. In 2020, Dr. Alam interned at The Peter G. Peterson Foundation and worked with the Niskanen Center in Washington, D.C. During this internship, he focused on fiscal policy analysis, specifically examining U.S. tax and budgetary issues, and provided research assistance to federal and state advocates. Dr. Alam has presented his research at numerous international conferences, including the American Economic Association, the Midwest Economic Association, the Illinois Economic Association, and the annual meetings of the International Atlantic Economic Society. He enjoys working with open-source programming languages like R and Julia and is open to collaborating on research projects.

Education

  • Ph.D. in Economics (May 2021), Northern Illinois University, USA
  • MA in Economics (May 2019), Northern Illinois University, USA
  • MA Economics of International Trade & European Integration (2008), University of Antwerp, Belgium & University of Staffordshire, UK.
  • BSS & MSS in Economics (2000, First Class First Position), University of Chittagong, Bangladesh.

Research Interests

  • Macroeconomics
  • Financial Economics, Real Estate Finance
  • Applied time series and Financial econometrics
  • FinTech, Machine Learning, and Data Analytics

Active Research Project

  • Sectoral Effects and Asymmetric Transmission of Structural Oil Supply and Demand Shocks: A Data-Driven Modeling with Machine Learning and Production Network Analysis.
  • A Decomposition of Cryptocurrencies' Time Varying Systematic Risk Beta
  • Climate Finance News and Global Financial Market Dynamics
  • Unveiling the Pro-cyclicality of Alpha and Beta in Sectoral REITs

Previous Research Project

  • Output, Employment, and Price Effects of U.S. Narrative Tax Changes: A Factor-Augmented Vector Autoregression Approach. Available at, SSRN: https://ssrn.com/abstract=3870896 or http://dx.doi.org/10.2139/ssrn.3870896.
  • Heterogeneous Responses to the U.S. Narrative Tax Changes: Evidence from the U.S. States (July 29, 2021). Available at SSRN: https://ssrn.com/abstract=3895432 or http://dx.doi.org/10.2139/ssrn.3895432.
  • Climate Fiscal Framework for Bangladesh, Fiscal Policy Consultant, Study under the Poverty, Environment and Climate Mainstreaming (PECM) Project 2014, the Government of Bangladesh and UNDP. Available at http://nda.erd.gov.bd/en/c/publication/bangladesh-climate-fiscal-framework-cff-2014.

Journal Publish

  • 1. Output, employment, and price effects of U.S. narrative tax changes: a factor-augmented vector autoregression approach
  • 2. NFTs, DeFi, and other assets efficiency and volatility dynamics: An asymmetric multifractality analysis
  • 3. Volatility spillover and connectedness among REITs, NFTs, cryptocurrencies and other assets: Portfolio implications
  • 4. Nighttime light intensity and child health outcomes in Bangladesh
  • 5. Volatility in US Housing Sector and the REIT Equity Return, The Journal of Real Estate Finance and Economics,
  • 6. Valuation of Ecosystem Service to Adapting Climate Change: Case Study from Northeastern Bangladesh, Handbook of Climate Change Management,
  • 7. Revisiting the Feldstein-Horioka Hypothesis of Savings, Investment and Capital Mobility: Evidence from 27 EU countries.

External Affiliations

  • American Economic Association, USA.
  • Illinois Economics Association, USA.
  • Midwest Economics Association, USA.
  • Member, Erasmus Mundus Students and Alumni Association, Cologne, Germany
  • Member, Bangladesh Economic Association (BEA), Bangladesh.
  • Reviewer: Financial Innovation, PLOS One, North American Journal of Economics and Finance, Quarterly Review of Economics and Finance.
  • Reviewer: SN Business and Economics, Southern Economic Journal, Cogent Social Sciences, Cogent Economics & Finance

Conference

  • 1. Heterogeneous responses to the U.S. narrative tax changes: Evidence from the U.S. states, The 92nd International Atlantic Economic Conference 2021, Atlanta, GA, USA.
  • 2. Cross-States Heterogeneity in the Transmission of the U.S. Narrative Tax Changes, American Economic Association Annual Conference 2021, Poster Session, Chicago, USA.
  • 3. A Factor-Augmented VAR Approach to Analyze the Effects of US Narrative Tax Cuts, Illinois Economics Association Conference 2019, DePaul University, Chicago, USA.

Teaching

  • 2018-2020: Basic Econometrics and Econometrics Lab with R Programming, Northern Illinois University, USA
  • Spring 2019: Intermediate Microeconomics, Northern Illinois University, USA.
  • Summer 2017-2019: Microeconomics, Macroeconomics & the Global Economy, Johns Hopkins Center for Talented Youth, Skidmore College, NY, USA.
  • Fall 2021 & Spring 2023: Advanced Macroeconomics (MSS), Principles of Economics (undergrad), Shahjalal University of Science and Technology, Bangladesh
  • Spring 2022: Application of Statistics in Economics using R, Shahjalal University of Science and Technology, Bangladesh
  • Spring 2023 and 2024: Financial Economics (MSS first semester), Shahjalal University of Science and Technology, Bangladesh
  • August 2023: Statistical Computing with R for Beginners (Lead Trainer)
  • Fall 2024: MATH II: Optimization Techniques in Economics (Second Year first semester), Shahjalal University of Science and Technology, Bangladesh

Graduate Supervision

  • 2023: Cross-Country Asymmetries in Risk Sharing of Energy Commodity Shocks (Master Thesis)

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