Dr. Rao completed her doctoral studies in economics at SUNY, Stony Brook, and graduate work in management at the Graduate Center, City University of New York. She teaches business and finance courses; her research interests include economic development and risk management. Before joining Marymount, Vandana taught and did consulting and project work for government and non-profit organizations in the U.S. and India, as well as for international organizations such as UNICEF.
Chair, Division of Business
M.A., Bombay University, India
M.A. and Ph.D., State University of New York at Stony Brook
Rao, Vandana. “The Significance of Economic Capital to Financial Institutions,” chapter in Ashish Dev (ed.) Economic Capital: A Practitioner Guide, Risk Books, Incisive Media Investments Ltd, London. 2004.
Rao, Vandana and Ashish Dev. “Economic Capital Allocation using Risk Management Tools,” chapter in Michael Ong (ed.) “Risk Management; A Modern Perspective,” Elsevier, 2006.
Rao, Vandana and Ashish Dev. “Operational Risk: Some Issues in Basel II AMA implementation in US financial institutions,” chapter in Ellen Davis (ed.) Implementing Operational Risk Management in Financial Services Firms, Risk Books, Incisive Media Investments Ltd, London. 2006.
Rao, Vandana and Ashish Dev. “Retail Economic Capital and Basel II” in Risk Management Association (RMA) Journal, March 2006.
Rao, Vandana. “Capital Adequacy Rules for Securitizations,” chapter in Michael Ong (ed) Basel II Handbook Risk Books, Incisive Media Investments Ltd, London. 2nd revised edition, 2007.
Rao, Vandana and Ashish Dev. “ERM: A new way to manage a financial institution” in Risk Management Association (RMA) Journal, February 2007.
Selected Paper Presentations:
Rao, Vandana and Ashish Dev. “Strategic Use of Economic Capital in Managing an Institution,” invited presentation at the Basel II and Banking Regulation Forum organized by the Global Association of Risk Professionals (GARP) at Zurich, Switzerland, April 2005.
Rao,Vandana. “The Basel II Financial Accord: Divergent Conditions Facing Developed and Emerging Countries,” presented at the Allied Social Sciences Association (ASSA) conference, Boston, in January 2006.
Rao, Vandana. “Quantifying Operational Risk,” presented at the Midwest Business Administration Association (MBAA) conference, Chicago, March 2006.
Rao,Vandana. “An Econometric Specification for estimating how Key Risk Indicators affect Frequency and Severity of Operational Loss,” presented at the Allied Social Sciences Association (ASSA) conference, Chicago, in January 2007.
Rao, Vandana. “Straight bonds versus Securitized bonds: Do investors get adequately compensated for risk?” presented at the Midwest Business Administration Association (MBAA) conference, Chicago, March 2007.
Rao, Vandana, Nasrin Shahinpoor, and Hedayeh Samavati, “Women, Economic Development and Globalization,” presented at the Academy of Business Economics, MBAA International, Chicago, April 2008.
Rao Vandana, “Financial Systems, Accounting Rules and Liquidity Crisis, AIEFS, ASSA presentation, San Francisco, CA, January 2009.
Rao, Vandana, “The Other Kind of Leverage: Packaging and Re-packaging of Loans” presented at the Academy of Business Economics, MBAA International, Chicago, March 2009.
Courses taught include Finance ( financial management, investment, international finance, financial markets and institutions), Economics ( introductory and intermediate economics, econometrics, mathematical economics, statistics and research methods), international business, marketing, organizational behavior and management.
Selected Presentations related to Teaching:
A.Szopa, N. Sabine & Vandana Rao. “A Bitter Conflict - A Simulation Explaining Social and Environmental Dilemmas” at the International Society for Exploring Teaching Alternatives (ISETA) Conference, October 1996.
Rao, Vandana. “Use of Newspaper Articles as an Active Learning Strategy”, at the Interactive session of Lilly Conference, Oxford, Ohio, November 1996.
Rao, Vandana. “Creating Partnerships to Improve Learning in an Economics Course: A Case Study” at the Eastern Economic Assoc. meetings, WashingtonDC, April 1997.
Rao, Vandana. “Using Problem-based Learning and Group Interactions to Explore Abstract Concepts”, at the Lilly Conference, Oxford, Ohio, 1997.
Rao, Vandana, Joan Lafuze, Mary Fisher and Margo Sorgman. “Creating Community Collaborations.” FACET sponsored panel presentation at IUPUI, Indianapolis, February 2002.
Consultant to U.N.I.C.E.F. on immunization and health status of children in the State of Himachal Pradesh, India, 1989 & 1990.
Consultant to local development organizations: Economic Development Corp. Wayne County, Fayette County Industrial Development Corp., Small Business Development Center of Wayne County and the Eastern Indiana Development District to prepare wages and benefits surveys, agricultural input and output survey, and strategic planning reports in connection with the project “Collaborative Data Center” which was founded with grants to support internships from Fall 1995 to August 2008.
Consultant for EarlhamCollege’s MAT (Master of Arts in Teaching) Program. Inducted as a member of the stakeholder group at the inception in 2000 and served as advisor as it became reality. Member of the Board of Advisors for MAT program from 2002-08.
Rao, Vandana and M.Sarin. “Situation Analysis of Children and Women in Himachal Pradesh”, a U.N.I.C.E.F. (United Nations) publication, 1991.
Rao, Vandana, J. Chand & L.R. Sharma. “Evaluation of the Family Welfare Program in rural areas of district Shimla”, Government of India Report, 1990.
Rao, Vandana, J. Chand and L.R.Sharma. “Fertility and associated socio-economic characteristics of households in rural areas of district Shimla,” Government of India Report, 1991.
Fayette County Wage and Benefit Survey : 1997,1998,1999, 2003, 2004 ( presented jointly by Collaborative Data Center, IU East & Fayette County Industrial Development Corporation)
Wayne County Wage and Benefit Survey,: 1997,1998,1999, 2003, 2004 ( presented jointly by Collaborative Data Center, IU East & Wayne County Economic Development Corporation)
Retail Business Survey and Strategic Plan for Development of Connersville- Fayette County (presented jointly by Collaborative Data Center, IU East and the Fayette County Chamber of Commerce) 1999.
Worked with the Eastern Indiana Development District to produce a report on agricultural input and output patterns, to help increase value added in the region, 2007.
Grant of $ 32,200 (plus a matching grant of $32,000 in kind from the Institution) from the Strategic Directions Charter (SDC) funds of Indiana University system for setting up the Collaborative Data Center in May 1996.
Grant award of $10,000 under the Cooperative Grants for Economic Development, Advanced Research & Technology Institute of IndianaUniversity, RUGS, for the Collaborative Data Center project titled: Retail Business Survey and Strategic Planning for Connersville-Fayette County from Dec. 1997 to Jan 1999.
Funding received for the Collaborative Data Center from the Eastern Indiana Human Resources Association (EIHRA) for $8,640, to produce an updated report on Wages and Benefits for WayneCounty in summer 2004.
Grant ($10,000) to the Collaborative Data Center for conducting an Agricultural Commodity Production Survey for the Eastern Indiana Development District (EIDD), from March 2006 to March 2007.