The Catholic University of America
Business and Economics Faculty

Martha Cruz-Zuniga – Associate Clinical Professor and Director of Economics


Dr. Martha Cruz Zuniga is an associate clinical professor of economics and is also the Director of Economics programs. She specializes in development economics, international economics and monetary economics with particular focus on migration, remittances, microfinance, poverty, education, and international transmission of shocks. She is especially interested in issues affecting developing countries.

Dr. Cruz Zuniga first joined The Catholic University of America faculty in 2006 as an Assistant Professor and taught Economic courses on both the undergraduate and graduate levels. From 2009 to 2011, she held the positions of General Manager at The Royal Flowers Group and Director of Finance and Administration at One World Telecom in Miami, FL. Dr. Cruz Zuniga returned to The Catholic University of America in 2012. She is currently involved in teaching at the undergraduate and graduate levels and in directing the Integral Economic Development masters programs. Dr. Cruz Zuniga has also held appointments at Western Michigan University and has previously worked in private companies in Ecuador.

One theme in her current research explores the effects of dollarization in developing economies. In addition, she also examines the effects of international monetary shocks in economic growth. Another theme of her current research is how integral economic development can be reached through development initiatives that include microfinance, health, education, capacity strengthening, and workers’ training. Her work has been published in economic journals and includes research on remittances and international transmission.

Dr. Cruz Zuniga has presented her work in various economic conferences including the Southern Economics Conference, the Midwest Economics Conference, the Western Economic Association International, and the Federal Reserve of St. Louis-Missouri Economics Conference. She has also presented at the Commission on the Status of Women, a division of the United Nations in New York, and at the General Consultative Status of United Nations Economic and Social Council (ECOSOC) High-Level Political Forum.

Dr. Cruz Zuniga obtained her Ph.D. in Economics from Western Michigan University. She also holds a M.A. in Economics from Western Michigan University and a B.A. in Economics from The Pontifical Catholic University of Ecuador.

Research and Writing

“The Role of Research in Teacher Training and Development: Case Studies from Nigeria,” with Judith-Ann Walker and Modupe Adefeso-Olateju. Partnership to Strenghten Innovation and Practice in Secondary Education PSIPSE, July 2014.

“On the Path To Economic Development, Do Remittances Help? Evidence from Panel VARs,” Developing Economies, Vol 49, Issue 2, June 2011.

“International Monetary Transmission to Emerging Economies, a Factor-Augmented Vector Autoregressive (FAVAR) Approach: The Cases of Mexico and Brazil,” Business and Economics Journal, Volume 2011: BEJ-26.

"The Impact of Remittances on Economic Growth: Fixed and Human Capital," with Sophia Aguirre. FADEP (Familia, Desarrollo, Poblacion), June 2010.


Other Presentations and Interviews

“Refugees, Education and Development” at the General Consultative Status of United Nations Economic and Social Council (ECOSOC) High-Level Political Forum, June 26th, 2015, New York.

“Translating Findings into Practice Session,” at the PSIPSE Nigeria Convening, January 8-9, 2015, Lagos, Nigeria.

“RTV, Russian TV” to discuss the African Summit in the United States. August 5, 2014.

"Official Dollarization: A Success? " at Georgetown University, July 21, 2014

“EWTN Nightly News,” to discuss Immigration and Human Capital, July 15, 2014.

“Official Dollarization in Latin America: A Success Story?” presented at the 89th Western Economic Association Annual Conference, June 27- July 1, 2014, Denver, Colorado

“Integral Economic Development: a Contribution to the Field of Economics,” to be presented at the North American Economics of Communion Meeting, New York, August 11th, 2012

“Eradicating Poverty and Hunger,” presented at the Commission on the Status of Women, United Nations, New York, March 7th, 2012

In Her Words ...

If you are seriously interested in helping people everywhere to overcome poverty, corruption, lack of access to credit, and other critical problems…then Economic Development is your field and Catholic University is the place to be. We provide students with tools to explore solutions that, considering the person in a holistic manner, create a real opportunity for achieving sustainable development.– Martha Cruz



Office: 307C McMahon Hall
The Catholic University of America
620 Michigan Ave.
Washington, D.C. 20064

Office hours: By appointment

Phone: 202-319-5697




  • ECON 101 – Principles of Macroeconomics

  • ECON 103 – Honors Macroeconomics

  • ECON 241 – Intermediate Macroeconomics

  • ECON 481 – International Finance 

  • ECON 484 – Economics & Finance in Emerging Markets

  • IEDM 540 – Economics of Development and Institutions

  • IEDP 571   Advanced Macroeconomics


Ph.D., Economics
Western Michigan University

M.A., Economics
Western Michigan University         

B.A., Economics
Pontifical Catholic University of Ecuador

Areas of Expertise

  • Migration and remittances
  • Education and human capital
  • International Transmission of Shocks
  • Issues in development and economics
  • Issues in international economics
  • Issues in monetary economics