Graduate students at UMD’s Smith School, led by finance professor Liu Yang, analyzed Maryland’s earned wage access market and presented findings to lawmakers, influencing policy on financial regulations and highlighting the real-world impact of academic research and experiential learning.

A joint report from Maryland’s Comptroller and Smith School researchers reveals $150 billion in recent federal spending in the state. Students, guided by professors Liu Yang, Vojislav Maksimovic and Kislaya Prasad, gained valuable experience in data analysis and government collaboration.

Smith faculty are shaping policy, business and society through influential research and public service. From AI and insurance reform to pay equity and public pensions, they’re winning top awards and earning national recognition for impact and innovation across disciplines.

Lemma Senbet, Dean’s Chaired Professor of Finance at Smith, received the African Economic Research Consortium’s Distinguished Service Award for his longstanding contributions to economic research, policy, and capacity building across Africa. He was also recently appointed to the Bretton Woods Committee.

Smith School faculty and graduate students partnered with the Maryland Comptroller’s Office to analyze the economic impact of federal spending and employment, helping state leaders assess risks and build a more resilient future for Maryland’s economy.