Dr. Ann Mari May, professor of economics at the University of Nebraska–Lincoln College of Business Administration, has a feature article in the International Monetary Fund’s June issue of Finance & Development, “A Woman’s World.”  May is featured in the first of four articles for her research showing how the rising proportion of women in economics may begin to change the profession’s views on policy questions.
 
May indicated there is a great deal of interest in understanding the impact of growing diversity in organizations and policy-making bodies. According to her, “There is substantial research to indicate that companies with female board members routinely outperform competitors whose boards include no women. This research provides hard evidence that gender diversity is not just an issue of fairness, but one of performance and outcomes.”
 
Interesting research on diversity and groups shows individuals working in diverse teams are more likely to do more preparation for any exercise if they know it will involve working in a diverse team rather than a homogenous one. A wider range of alternatives are likely to be debated in a diverse group, and diversity encourages people in the majority to think more critically about their own views.
 
May’s research provides an important link in understanding how the growing representation of women in economics might affect the profession. She and her co-authors, Dr. Mary G. McGarvey also of UNL and Dr. Robert Whaples of Wake Forest University, surveyed members of the American Economic Association.

The research team found that despite having similar training and adherence to core economic principles and methodology, male and female economists hold different opinions on current economic issues and specific economic policies, including educational vouchers, health insurance and policies toward labor standards.  As May points out, “not only will women’s views shape public policy because they are different than men’s views, but adding to gender balance in the profession will also likely change the dynamics of how we arrive at policy outcomes.”

The results of the study lend support to the notion that gender diversity in policy-making circles may be an important aspect to broadening the menu of public policy choices. Published: July 1, 2013