Sam Sacco talks economics with Newport This Week
In June, Newport This Week sat down with Salve’s Sam Sacco, senior lecturer in the Jean and David W. Wallace Department of Business and Economics, to discuss the many important local economic impact studies conducted by his students in the course ECN-240: Econometrics, over the years, and learn more about what makes him tick.
The original article, by Philip Cozzolino, follows.
Salve Regina University business and economics lecturer Sam Sacco held management roles in private and public finance for three decades, but Newporters may know him for something else.
Since 2018, Sacco and his students have studied the economic impact of places of interest, authoring a 2019 study of the Cliff Walk’s contribution to Newport and the state. Salve has since produced similar analyses for the Naval Undersea Warfare Center, Newport Hospital, the Washington Bridge closure, Newport Contemporary Ballet, the Rhode Island Hospitality Association and more.
Originally hailing from New York and earning degrees from Holy Cross College and Harvard University, Sacco has called Newport home since 2010. After a request from the Newport Beach Commission in April, he will lead students to study the economic impact of Easton’s Beach as the city debates its future.
Q: What do you enjoy most about teaching?
A: Before I started, I wasn’t sure that I would enjoy teaching, but I was mistaken. I enjoy sharing my business experiences and anecdotes with the students to illustrate topics. The classroom atmosphere is an active one that makes my time with students fun as well as educational. I also enjoy my advising responsibilities and assisting students with a variety of questions about courses, careers and life.
Q: What makes Newport special to you?
A: I’ve lived in Rhode Island for over 30 years. Newport is a community of relationships that are built over time, and now I can’t imagine living anywhere else. Newport and Aquidneck Island are where I feel a sense of belonging. Also, as a student of American history, Newport offers a rich foundation.
Q: You’ve said you favor a practical approach to education. How rewarding is it to see that pay off?
A: Making experiential educational opportunities available to students and guiding them to an initiative’s conclusion is absolutely the best part of teaching. When I see students actively engaged in a project, take ownership of the analysis and see their pride when they present the results, I feel tremendous joy, because the students have grown and are making a real contribution to the community. What the students accomplish matters, and they know it. Witnessing their sense of triumph never gets old.
Q: How economically valuable is Newport to Rhode Island?
A: Newport, Aquidneck Island and Jamestown are vital economic drivers to Rhode Island’s overall economic health and revenue. The communities offer unique cultural, historical and vacation opportunities that are unparalleled. Given that 25% of the U.S. population lives within a full tank of gas from the Newport area, its economic importance cannot be overstated.
Q: Are you excited about leading students to study the economic impact of Easton’s Beach?
A: Yes, the students and I are very excited. It is an important local resource that is well known to the students, closely connected to the Cliff Walk and Newport. The opportunity to participate in the public policy discussion about its future will be both meaningful and personal to the students.
Q: You’re currently answering these questions from the United Kingdom. Tell us more about that.
A: I am fortunate to participate in a Salve short term study abroad program at St. Clare’s Oxford. I teach European financial markets and currency, and cover UK/EU financial institutions, the stock market and UK/EU current affairs. It is very experiential, with visits to the Bank of England Museum, British Museum, Oxford Mini-Cooper plant, a Q&A with the CEO of a UK multinational, guest lectures by Oxford instructors and a curated presentation on ancient coins.
Q: What do you enjoy doing when not teaching or conducting studies?
A: I can be found at the beach or dining out with my wife. Truthfully, I am a proud member of Red Sox Nation and hope to be called up one day to play infield for the Sox. But until that happens, I’m very happy with my Salve and Oxford teaching responsibilities, being at the beach or in a local restaurant.