Econometric Stats Structured by Dr. Stephanie
by Cate Murway
We live in tough times. Budgets are being scrutinized more stringently than ever.
Econometrics, the unification of economics, mathematics and statistics, is not a new concept. The UK has been using it for a quarter of a century.
Unfathomable amounts of data can be turned into actionable information.
Authoress, Dr. Stephanie Roberta Thomas, Ph.D., the founder and CEO of Thomas Econometrics Inc., spent her youth in Horseheads, NY, a small village with a barbershop and a bakery, near Corning. “It was a lot like Bristol Borough in many ways” and the former Chemung Canal had once passed through this town.
Her Thomas Econometrics Inc. moved into the Grundy Commons on the first of the year. “I love this repurposed building and the rent is great. Fred [Baumgarten] is great. The people are great. I’m happy coming into this building.”
The new fashionable thing is the repurposed building and her windows with the scenic views overlook the Delaware canal.
She has a great view of the canal! “I get to watch the ducks getting swimming lessons.”
Her primarily black accented office is functional and elegant.
“Black, charcoal and white match everything.”
“Fast Company” magazine, a full-color business magazine geared toward new cutting-edge business that focuses on technology, business, and design, rests on the table.
Stephanie can expertly share her amazingly accurate grasp of market context including competitors, trends and legislation and apply econometric methods in real-world practice. Her studied and unique approach reflect the fact that econometrics has moved beyond just a set of abstract tools to being genuinely precise for answering questions in business, policy evaluation, and forecasting environments.
In the simplest terms, econometricians can correctly measure past relationships among such variables as consumer spending, income, tax rates, interest rates, employment, and then forecast how changes in some variables will affect the future course of others.
Essentially illustrating how different factors in the economy interact with one another.
Dr. Stephanie’s book, [“People really only call me ‘Doctor’ in court”], "Statistical Analysis of Adverse Impact: A Practitioner's Guide", a “non-technical guide written for the average reader” was published in April 2011. She feels that the better educated her clients are, and with the ability to use a common language base, there is a more effective workplace. She appropriately provides work force economic and statistical consult, specializing in analyses and expert witness services for risk assessment, litigation and regulatory compliance.
Stephanie’s educational background includes Elmira College for a B.A. in Economics and New School for Social Research for her Ph.D. in Economics.
She originally began her undergraduate education as an accounting major. “It was boring. Everything was either a debit or a credit.” She appreciated the global simulation of the economy in macroeconomics and “something clicked for me in that computer simulation.”
Stephanie confirms that she “grew up in technology”, starting with the Computer Club in the 6th grade while in elementary school. “There was a boy in computer club that I liked.” She learned on the original Apple II operating system along with Integer BASIC.
Stephanie designed her own Thomas Econometrics Inc. logo.
She credits her acquired skills to her parents: Lawrence, who worked for a biological supply company building skeletons [his chimpanzee skeleton is in the Smithsonian] and soon-to-be-retired, Jo Ellen Clark, who runs the computer lab for elementary students.
“They are a good support structure.”
Her impetus for starting her own business was a “better chance for success was going out on my own.”
From her dad, she attributes “my stubbornness”.
Stephanie was also an instructor of Economics at New York University from September 1997 through May 1999, teaching courses on economic theory and econometrics.
This multi-faceted entrepreneur currently hosts ‘The Proactive Employer Podcast’ on Thursdays from 3:00-4:00 pm, spotlighted on the Voice America business channel for a 13 week pilot program.
Another avenue is explored. “Webinars are a cool way to start into a whole new market.”
This conferencing is used to conduct live meetings, training, and presentations via the Internet. Her guests include a variety of policy makers and proactive best practices are suggested.
Thomas Econometrics Inc. has provided advice and research to Fortune 500 companies, privately held businesses and government agencies at the federal, state and local levels. They have deep expertise in economic and statistical analysis in employment litigation, regulatory investigations, proactive self-auditing studies and ongoing monitoring programs. Their services include: data collection, cleaning and production; development of statistical strategies; econometric and statistical analysis; calculation of damages and exposure estimates; authoring expert reports and opinions; review and critique of expert reports; and expert testimony at deposition, trial or regulatory proceeding.
Stephanie is an insightful, exceptionally intelligent, compassionate and thoughtful individual. She offers a valuable perspective with precision and the highest quality on problems. Her knowledge is practically unparalleled and she has the ability to relate even the most complex subject with ease.
Her younger sister, Gabrielle Erway is the Director of client services, handling most of the writing for the customer.
“She can write about anything and make it sound interesting.”
The associates with whom Stephanie works are independent contractors.
“We are advanced and virtual. My sister and her husband, Benjamin, and their daughter, Emily Claire, who plays the sax ‘a jazz kid, all about improvisation’ still live in NY.”
Stephanie and her sister shared common musical interests while in school. Gabrielle played the piano and flute in the band, while Stephanie was involved in extracurricular programs including music; she played the violin, softball, and ballet lessons. This econometrician “always liked math and there is a pattern between math and music.”
She started playing the violin at the age of seven and she performed in the school orchestra with plans on becoming a concert violinist. She prepared to go to conservatory
at the Crane School of Music in Potsdam NY.
Life brings about changes but after a 20-year sabbatical, Stephanie is again playing with her “highly antiqued with a unique image” 7/8 Jay Haide Balestrieri model violin. Since October 2011, she performs with the Lower Merion Symphony Orchestra in the McShain Auditorium at Rosemont College and was asked to be the acting concertmaster for the most recent concert.
Her favorite music encompasses jazz and classical but she finds that she often “sings television jingles and commercials”.
Stephanie’s guitarist husband, Martin Joseph Thomas works for Hoshino USA, Inc.
Hoshino designs, manufactures, and distributes guitars and drums primarily in the United States and Japan.
Their first apartment was in downtown lower Manhattan in Greenwich Village but they have resided in Lower Bucks since June 1999.
Does she miss New York? “There is more space here.”
And now she admits that she is a “big Phillies fan”.
Their favorite vacation spot is the Outer Banks on pristine Hatteras Island, NC.
Thomas Econometrics Inc., founded December 1, 2010, is a recognized leader in statistical and economic consulting, employment law and loss/profits claims.
“We provide analyses and expert witness services for risk assessment, litigation, and regulatory compliance and
specialize in quantitative solutions to workplace issues.
We are available seven days a week. We’re here when you need us.”
Thomas Econometrics Inc.
The Grundy Commons
925 Canal Street, 7th Floor
Bristol, PA 19007
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