Michael Staten

Bart Cardon Associate Dean for Academic Programs
(520) 621-1932
Forbes 211

Teaching and Research Interests

I’ve designed projects on a wide range of policy-oriented issues involving the economics of consumer credit markets. Topics have included the causes and consequences of personal bankruptcy and mortgage foreclosures; the role of credit bureau data, credit scoring and risk management tools in expanding access to consumer loans in the U.S. and globally; and the pros and cons of improved loan disclosures and regulatory limits on loan products in helping consumers to make good credit choices.

I’ve also conducted projects for the National Retail Federation, the U.S. Chamber of Commerce and other national associations on issues such as credit card usage patterns and the impact of privacy and data usage regulations on the products and customer service offered by retail financial services firms.

I’m particularly proud of a series of projects sponsored by American Express and the Consumer Federation of America that demonstrate the rehabilitative effects of credit counseling on long-term borrower behavior.  I am also proud of our efforts to create pilot demonstration projects here at the University of Arizona that pair financial education with financial products (e.g., savings programs; student loans) to encourage and support completion of higher education degrees. 

Over the past decade, when director of the Take Charge America Institute here at the UA, I gained extensive experience in developing and scaling up financial education programs for youth in classroom and online environments, as well as through peer-to-peer programs.  I expanded to a national scale our flagship outreach program, the award-winning Take Charge Today curriculum. Take Charge Today develops and distributes (free of charge) an extensive, activity-based personal finance curriculum for high-school and middle-school classrooms nationwide (www.takechargetoday.arizona.edu), and companion teacher support and professional development.  More than 48,000 teachers nationwide are authorized users of the Take Charge Today curriculum.  The quality of the curriculum materials was acknowledged by the U.S. Treasury Department when it included three Take Charge Today lessons as part of its educator toolkit to support its 2011 National Financial Capability Challenge. Most recently, in a partnership with the National Endowment for Financial Education (NEFE) beginning in 2014, we created a national online resource center for personal finance educators, hosted at the University of Arizona (www.moneyteach.org). Moneyteach provides curriculum resources for middle and high school educators, giving new teachers a trusted place to start when building their courses.  



Classes Taught

Introductory Microeconomics
Intermediate Microeconomics
Money, Consumers and Family  (Undergraduate, general elective)
Economics and Public Policy (MBA)
Managerial and Business Economics (Undergraduate and MBA)
Economics of Information and Uncertainty (Undergraduate and MA)
Retail Financial Services (upper-division Undergraduate)
Behavioral Foundations for Consumer Financial Decisions (Graduate)

Selected Publications

Please contact Dr. Michael Staten if you are unable to locate one of the publications listed below.


Durkin, Thomas, Gregory Elliehausen, Michael Staten and Todd Zywicki. 2014.Consumer Credit and the American Economy.  Oxford University Press.

Refereed journal articles

Staten, Michael. 2015. Risk-Based Pricing in Consumer Lending. Journal of Law, Economics and Policy, 11(1): 33-57.

L. Douglas Smith, Michael Staten, Thomas Eyssell, Maureen Karig, Beth A. Freeborn, and Andrea Golden. 2013.  “Accuracy of Information Maintained by U.S. Credit Bureaus:  Frequency of Errors and Effects on Consumers’ Credit Scores.”  Journal of Consumer Affairs, Vol. 47, No. 3, 588-601. 

Brown, Daniel, Charles Link and Michael Staten.  (2012).  The Success and Failure of Counseling Agency Debt Repayment Plans.  Eastern Economic Journal, 38: 99-117.

Barron, J.M., and Staten, M.E., (2008). The Emergence of Captive Finance Companies and Risk Segmentation in Loan Markets: Theory and Evidence. Journal of Money Credit and Banking. 40, 173-192.

Elliehausen, G., Staten, M.E., & Steinbucks, J. (2008). The Effect of Prepayment Penalties on the Pricing of Subprime Mortgages. Journal of Economics and Business. 60, 33-46.

Ellliehausen, G., Staten, M.E., & Lundquist, E.C. (2007). The Impact of Credit Counseling on Subsequent Borrower Credit Usage and Payment Behavior. Journal of Consumer Affairs. 41, 1-28.

Staten, M.E. (2006). The Evolution of the Credit Counseling Industry. The Economics of Consumer Credit, edited by Bertola, et al, The MIT Press. 275-300.

Elliehausen, G. & Staten, M.E. (2004). Regulation of Subprime Mortgage Products: An Analysis of North Carolina’s Predatory Lending Law. Journal of Real Estate Finance and Economics. 29, pp 411-433.

Cate, F., Litan, R. Staten, M.E., & Wallison, P. (2003). Financial Privacy, Consumer Prosperity and the Public Good: Maintaining the Balance. AEI-Brookings Joint Center for Regulatory Studies.

Cate, F. & Staten, M.E., (2003). The Impact of Opt-In Rules on Retail Credit Markets: A Case Study of MBNA. Duke Law Journal, 52, pp 745-786.

Barron, J.M., Staten, M.E., & Wilshusen, S. (2002). The Impact of Casino Gambling on Personal Bankruptcy Filing Rates. Contemporary Economic Policy. 20, 440-455.

Carow, K. & Staten, M.E., (2002). Plastic Choices: Consumer Usage of Third Party vs. Proprietary Credit Cards. Journal of Economics and Finance. 26, 216-232.

Other Information

Over the past two decades I’ve been lucky to have a career that was half in the academic world and half in the public policy world. I spent the first ten years of my career as a regular faculty member in an economics department (University of Delaware). I spent most of the next 20 years as director of academic research centers (at Purdue University, Georgetown University, and George Washington University) that focused on public policy affecting retail financial services, especially with respect to companies that provide consumers with credit cards, auto loans, mortgage loans and a host of other credit products. Research is always interesting, but doing research on issues that directly impact people’s lives, and under the hot lens of public policy scrutiny in Washington D.C., is exciting.

From December 2007 until May 2016, I directed the Take Charge America Institute (TCAI) for consumer financial education and research. I’m still working on financial services issues, but this time by helping to build financial literacy and capability especially among America’s youth. Consumers today face a tremendous array of financial products and choices. Perils await those who make uninformed choices when it comes to borrowing, spending, saving and investing. I’m delighted to be a part of the University’s effort to build financial education programs that are now being used by tens of thousands of teachers across the country.  

Most recently, since 2015, I've served as the Bart Cardon Associate Dean for Career and Academic Services in the College of Agriculture and Life Sciences (CALS).  In that position I lead a staff of 17 full time employes and am responsible for oversight of all academic programs for 3,600 students in the college, across 17 undergraduate majors in 10 academic departments and more than 50 graduate degree and certificate programs.  

When I’m not having fun in the classroom or in the dean's office, I hike, golf, lap swim (I was a competitive swimmer and a scholarship student-athlete through college) and do all the other outdoor activities you can do year-round in Southern Arizona. My wife and I live in Oro Valley, where we also enjoy spectacular sunsets and the moon rising over the Catalinas.