​Randy Cray​


Professional Titles:
Emeritus Professor of Economics


Randy Cray is an Emeritus Professor of Economics at UWSP. He is also the Emeritus Chief Economist at the University of Wisconsin-Stevens Point’s Central Wisconsin Economic Research Bureau (CWERB). He taught in the areas of monetary economics, macroeconomics and finance from 1986 to 2016. In addition, he is the former head of the School of Business and Economics, serving two terms in this capacity. Prof. Cray has a M.A. in Accounting from Ball State University and a M.B.A. in Economics from Ball State University. Randy earned his Ph.D. in Economics from Kansas State University with specialties in regional economics and monetary & fiscal policy.

Prof. Cray has been recognized on numerous occasions by the School of Business and Economics at UWSP for his research, teaching and university service. Cray has published in a number of scholarly journals, which dealt with regional economics. Moreover, during the past 30 years he has published over two hundred Quarterly Economic Indicator Reports for Marathon, Portage and Wood counties. In addition, he is a past member of the Federal Reserve Bank of Chicago’s Midwest Economic Workshop, and served as a panel member on the Wisconsin Department of Revenue Forecast Advisory Council. He was also a member of the Wisconsin Department of Workforce Development’s employment projection panel.

Prof. Cray is a frequent speaker at professional conferences and is regularly interviewed by regional newspapers, radio, and television stations on matters pertaining to the economy. He also has a monthly economics column that appears in the Stevens Point Journal.

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