​Randy Cray​


Professional Titles:
Emeritus Professor of Economics


I have been the chief economist of the Central Wisconsin Economic Research Bureau at the University of Wisconsin-Stevens Point since 1986. Furthermore, I am a professor of economics and teach in the areas of regional economics and finance. In addition, I have served two terms as chair of the Divison of Business and Economics. I received my M.A. in accounting and M.B.A. from Ball State University in Indiana, and took my Ph.D. at Kansas State University.

I have been recognized on numerous occasions by the School of Business and Economics at UWSP for my research and community-university service. I have published in a number of scholarly journals, which deal with regional economics. Moreover, I have published approximately two hundred Quarterly Economic Indicator Reports for Marathon, Portage, and Wood counties. Further, I am a past member of the Federal Reserve Bank of Chicago’s Midwest Economic Workshop and served on the Wisconsin Department of Revenue Forecast Advisory Council. I am currently a member of the Wisconsin Department of Workforce Development’s employment projection panel.

I am a frequent invited speaker at professional gatherings and am regularly interviewed by regional newspapers, radio, and television stations on matters pertaining to the economy.

Selected Publications:

“Economic Indicator Reports for Central Wisconsin.” UWSP Central Wisconsin Economic Research Bureau, 1986- 2008. Approximately 200 publications.

“Workforce Needs of Central Wisconsin: A Survey of Area Employers.” With Robert Enright. UWSP Central Wisconsin Economic Research Bureau, 1995.

“Convergence or Divergence? A study of Regional Business Cycle Patterns among U.S. Census Regions.” With Dennis Palmini. Regional Science Perspectives, Vol. 22, Number 2, 1992.

“Central Wisconsin’s Industrial Structural Change.” Wisconsin Workforce 2000: Hearings before the Joint Economic Committee, Congress of the United States. U.S. government Printing Office.

“Estimating the Impact of Higher Electric Rates on Intersectorial Prices: An Input-Output approach.” The Review of Regional Studies, Vol.19, No. 2, Spring 1989.

A Long Hard Slog: Debt and Economic Recovery,” with H. Scott Wallace, Journal of Economics and Economic Education Research, (2013).”

"The American Pie: Income Inequality in the United States,” with H. Scott Wallace, International Journal of Economics and Social Science Research, (2013) 

Research Interests:

  • Regional Economics
  • Money and Financial Markets
  • Financial Management

Courses Taught:

  • Econ 210: Principles of Macroeconomics
  • Econ 211: Principles of Microeconomics
  • Econ 360: Money and Financial Markets
  • Econ 374: Regional Economics
  • Bus 352: Financial Management