Donald R. Byrne, Ph. D.

Ph. D., Economics, University of Notre Dame

Professor of Economics, University of Detroit Mercy




THE NEW PARADIGM IN ECONOMICS – 1995 Manuscript (Last revised 2003)

FINANCIAL ECONOMICS – 1990 Manuscript (Last revised 2003)

FINANCIAL MARKETS IN TRANSITION – 1995 Published by Federal Reserve Bank of Chicago (with Paul Ballew, Senior Research Economist, currently Chief  Sales Forecaster General Motors Corporation)


Doctor Byrne has been in the classroom for nearly four decades.  In that time he has impacted countless numbers of students and professionals.  The educator’s educator, Doctor Don Byrne has dedicated himself to teach whoever is in front of him.  His greatest success lies in his analysis and his ability to convey the theory behind that analysis to his students in a complete, passionate and articulate manner.  His objective has always been to train young (and not so young) minds to analyze data so that they can develop a level of competency in a very difficult discipline – Economics. 


Doctor Byrne’s primary goal in the classroom has always been to encourage students to think for themselves and to approach all things economic with an open mind and always with their analytical tools at the ready.  His dogged determination and adherence to the analytical process has brought him to an unmatched level in the field of economic study.  Doctor Byrne’s New Paradigm in Economics embodies a life’s work and is truly ground breaking in its elegance and clarity.





Edward T. Derbin, MA, MBA

MA, Economics, University of Detroit Mercy

MBA, University of Detroit Mercy




Beta Gamma Sigma, National Business Honor Society (Top 5% of class)

Alpha Sigma Nu, National Jesuit Honor Society (Top 5% of class)



When Doctor Byrne speaks of the New Paradigm in Economics, the best example is illustrated by what Ed Derbin has undergone over the past few years.  A solid financial professional at DaimlerChrysler for more than nine years, Ed was laid off in a cost-cutting effort wherein more than twenty percent of the finance staff was let go.  This was an organization that was the proud recipient of the Malcolm Baldridge Award just a few years before.  The award was given for having a lean operation, or as Ed put it, they earned the prize by doing a job and a half per employee in the finance area.  In an odd twist of fate, he has used this negative experience to his best advantage by more thoroughly immersing himself in the theory behind the phenomenon that caused him to lose his job in the auto industry.  Not unlike his mentor, Doctor Byrne, Ed’s passion lies in the classroom and in the analysis and theory of economics.


In short, Ed Derbin’s role in this endeavor is to support, encourage and bring his significant expertise in terms of financial and management skills to bear in this ongoing project.  His long-term objective is to gain mastery of The New Paradigm and Economics and to share the load as Associate Editor of this newsletter in bringing this increasingly relevant view of the American economy to the public.






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(Opinions expressed on this web page are those of a faculty member or employee and do not necessarily reflect the position of University of Detroit Mercy)