Professor Nowak received her Bachelor’s, Master’s and Ph.D. degrees in Economics from CUNY.  At the Ph.D. level, she specialized in Labor Economics and Econometrics and subsequently worked at the Federal Reserve Bank of New York, where she developed an interest in financial economics and monetary policy.  She earned her Chartered Financial Analyst (CFA) certification in 1995.  At CSI, Professor Nowak has taught a number of finance courses, including Money and Banking, Money and Capital Markets, Corporate Finance, Advanced Corporate Finance, and Security and Investment Analysis.  As Area Chair of Finance, she upgraded the finance curriculum and formed the Economics/Finance Honor Society. She has fostered curriculum reform, raised standards in the Department’s four undergraduate programs, and helped develop the Department’s M.S. in Business Management.  Professor Nowak has participated widely in international exchanges of faculty and students.  She has both taught at and served as a consultant to the American University in Rome, and she traveled to the Shanghai College of Business in China to evaluate their Business Program and foster exchange relationships.  She serves on the Advisory Board of CSI’s Center for International Service. She is working with our exchange partner IPAG in Nice, France to encourage undergraduate student exchanges.


BA, City College of New York

MA, Hunter College

PhD, CUNY Graduate Center


Scholarship / Publications

Laura Nowak has written extensively on financial economics and monetary policy.  She is the author of Monetary Policy and Investment Opportunities, published by Greenwood Press, and she has written many articles in professional journals and books.  Her work in Benefit/Cost Analysis appeared in The American Economist, and her paper “Can The Interest Rate Drop Undo the Damage” was published in The Banker’s Magazine.  The effect of interest rates on discount rates used in present value calculations was published as “The Total Offset Method; Is it Valid?” in The Trial Lawyers Guide, and “Empirical Evidence on the Relationship Between Earnings Growth and Interest Rates” was published in The Journal of Forensic Economics.  After her visits to Shanghai University and other parts of China, Professor Nowak wrote several articles; “Reforming Finance Education in China: A Case Study of Shanghai University, College of Business,” “Intercultural Differences Between Chinese and Americans in Business,” and “The Shortage of Financial Skills in China.”  She is currently investigating gender differences in wage rates as well as outcomes assessment of CSI’s Business programs.  In 2006, she presented “The Gender Wage Gap; The Experience of CSI’s Accounting Graduates” at the International Society Of Business Disciplines.