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          Economist and Principal in Formuzis, Hunt and Lanning, Inc.

          Professor of Economics Emeritus, California State University, Fullerton



          B.A., Economics: Washington State University, 1963

          Ph.D., Economics:  Michigan State University, 1969



          A Deposit Run Model of Member Bank Borrowing



          Monetary Economics, Macroeconomics, and Law and Economics



          Economic Consultant, Formuzis, Hunt and Lanning, Inc., 1982 - present

          Associate Professor and Professor of Economics, California State University, Fullerton, 1976-1991

          Director of Graduate Program in Economics, California State University, Fullerton, 1976-1979

          Associate Professor and Chairman, Department of Economics, University of Montana,1967-1976

          Visiting Professor of Economics, University of Wyoming, 1974-1975

          Executive Committee, Western Economic Association.  Elected Member, 1973-1976

          Visiting Professor of Economics and Research Economist, Board of Governors of the Federal Reserve

          System, Washington, D.C., 1969-1970

          Economic Advisor, Board of Directors of the Federal Reserve Bank of Minneapolis, 1972-1976

          Visiting Summer Scholar, Federal Reserve Bank of Minneapolis, 1968

Consultant:     Montana State Board of Equalization

          Montana Highway Commission

          Montana Bancorporation

          Los Angeles County Wide Planning Commission El Camino Bank

          Law firms since 1973



          American Economic Association

          Western Economic Association

          National Association of Forensic Economists; Vice President



          "Demand for Money in Canada," Canadian Journal of Economics,1968


          "State Income Taxes and Sales Taxes," Montana Business Quarterly, 1968


          "The Solution of Qualitative Comparative Static Problems," Quarterly Journal of Economics,

          November 1970


          "A Deposit Run Model of Member Bank Borrowing," Journal of Finance, 1971


          "Demand for Euro-Dollars and the Optimum Stock of Bank Liabilities," Journal of Money,

          Credit and Banking, 1973


          "Bank Capital: The Deposit-Protection Incentive," Journal of Bank Research, 1976


          "Inflation and the Valuation of Future Economic Losses," Montana Law Review, Summer 1977


          "How Likely is a Return to Price Stability," Los Angeles Business and Economics, Fall 1978


          "Inflation, Progressivity and State Income Tax Revenues and Expenditures," Policy Studies Journal,

          Autumn 1980. Reprinted in Taxing and Spending Policy, Samuels and Wade, Eds.,

          Lexington Books 1980.


          "The Present Value of Economic Loss: A Readers Guide to Jones & Laughlin v. Pfeifer,"

          (Joyce Pickersgill, co-author), Trial, February 1985.


          "Converting Present Value Awards Into Periodic Payments", (Joyce Pickersgill, co-author),

          Journal of Forensic Economics, August 1989.


          "Term-to-Maturity and the Discount Rate", The Earnings Analyst, Volume 15, 2016.

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