Professor Arroyo received the Johns Hopkins SAIS Excellence in Teaching Award in 2003; previously was assistant professor of economics at the University of Florida; consulted for private sector financial corporations, notably FTSE, Standard & Poor's and Ruesch International, Inc.; areas of interest include exchange rates, international monetary economics, international financial markets, particularly stock market indices, and applications of value-at-risk principles to firm and household financial behavior; PhD, economics, Rice University