Area of Study
Email Address
Kirner-Johnson 218

Erol Balkan's current research focuses on the formation of middle classes through education and financial liberalization in developing countries. He has received several awards and grants for his work, including the International Development Research Center Grant in 1996 to study the effects of short-term capital flows on the Turkish economy. Balkan teaches economic development, international finance and political economy of the Middle East at Hamilton and has lectured as a visiting professor at Bilkent University in Ankara and Sabanci University in Istanbul, Turkey.

Recent Courses Taught

Introduction to Microeconomics
Intermediate Microeconomics
Economic Development
Global Economy
Political Economy of the Middle East
Global Financial Networks
International Finance

Research Interests

Sustainable economic development
International finance
Environmental and natural resource economics
Global economy
Political economy of the Middle East (Islam)
Economic anthropology


  • The Samuel and Helen Lang Prize for Excellence in Teaching Award
  • The Class of 1963 Excellence in Teaching Award

Selected Publications

  • Neoliberal Landscape and the Rise of Islamic Capital in Turkey, Berghahn Books, Cambridge and New York, 2014.
  • Reproducing Class (with Henry Rutz), Berghahn Publishers, New York, 2010.
  • International Bank Lending and Country Risk, Nova Scientific Publishers, Inc., New York, 1995.
  • "Globalization, Middle-class Formation, and 'Quality' Education: Hyper-competition in Istanbul, Turkey" International Journal of Diversity in Organizations, Communities and Nations, Volume 3.
  • “Globalization, Middle Class Formation and ‘Quality’ Education” in Cultural Diversity in A Globalization World, Proceedings of the Diversity Conference 2003.
  • “Peripheral Development under Financial Liberalization” in Ravages of Neoliberalism (edited by N. Balkan), January 2002. Nova Science Publishers, New York, N.Y.
  • "The Value of Changes in Deer Hunting Quality: A Travel Cost Approach," (reprint) in Environmental Valuation (edited by K. Willis, K. Button and P. Nijkamp), Edward Elgar Publishers, August 1999.
  • “Military Conscription, Efficient Policies and Transfers from the Politically Weak” (with K. Greene) in Economia delle scelte pubbliche. 2-3, 1998, pp.153-162. 
  • “Financial Liberalization, Stabilization and Growth: The Turkish Experience,” in Financial Reform in Developing Countries, (Eds. Fanelli, J. and R. Medhora) St. Martins Press, 1998.
  • "Development and the Consumption of Leisure," (with H. Rutz).  in Scandinavian Journal of Development Alternatives, Vol. 18, No. 3&4, June & September 1999, pp. 229-251.
  • "Are Financial Markets Really Efficient With Respect To Money Announcements?” (with U. Erol).  Journal of Macroeconomics Vol. 18, Number 4, fall 1996, pp. 639-656.
  • "A Choice Theoretic and Information Oriented Approach to the Short Run Characteristics of Real and Nominal Interest Rates," (with U. Erol), Applied Economics Letters 1995, 2, pp. 191-195.
  • "Country Risk and International Portfolio Diversification," in Economia Internazionale Vol. XVLIII, Number 1, February 1995, pp. 3-14.
  • "Inflation and Nominal Interest Rates in the United States," (with U. Erol). in Economia Internazionale Vol. XLV, Num. 2, May 1992, pp. 164-179.

College Service

  • Project codeveloper and administrator, Hamilton in New York City Program
  • Project co-developer and co-director, The ACCESS Project at Hamilton College
  • Project developer and coordinator, sophomore seminars on globalization
  • Chair, Department of Economics
  • Chair, Committee on Appointments
  • Levitt Council
  • Dean search committee
  • Faculty Committee on Budget and Finance
  • Committee on Information Technology
  • Asian Studies Committee

Professional Affiliations

Refereed for Applied Economics, Applied Financial Economics and International Journal of Middle East Studies, World Development

Professional Experience

Visiting professor, Sabanci University, Istanbul, Turkey
Visiting professor, School Of Management, Bilkent University, Ankara, Turkey
Visiting assistant professor, Department of Economics, Bilkent University, Ankara, Turkey
Sea Grant Institute Fellow: research on the evaluation of Long Island fisheries

Appointed to the Faculty


Educational Background

Ph.D., State University of New York at Binghamton
M.A., The University of North Carolina at Greensboro
B.S., The University of North Carolina at Greensboro

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