Faculty Directory

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James Smith


Professor of Finance
Cary M. Maguire Chair of Oil and Gas Management (Retired)

PhD, Economics, Harvard University

Fincher 430B


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Dr. James Smith has specialized in energy studies since receiving his PhD in economics from Harvard University in 1977 and has published many scholarly articles on the oil and gas industry.  Dr. Smith currently serves as co-editor of The Energy Journal - the flagship journal of the International Association for Energy Economics, and as president-elect of the United States Association for Energy Economics.  In addition to his academic duties at Southern Methodist University, Dr. Smith frequently provides consulting services to energy companies, regulatory agencies, and government officials, in the US and abroad.


Energy Economics
Energy  Finance
Real Options
Auction Theory

Recent publications

“The Option to Hold a Petroleum Lease by Production:  A User’s Guide to the Shale Gas Drilling Boom,” working paper.

“Valuing Barrels of Oil Equivalent,” forthcoming in The Energy Journal.

“The Informational Role of Spot Prices and Inventories,” (with Rex Thompson and Thomas K. Lee), forthcoming in The Journal of Energy Markets.

“A Parsimonious Model of Tax Avoidance and Distortions in Petroleum Exploration and Development,” Energy Economics, 2014.

“Issues in Extractive Resource Taxation:  A Review of Research Methods and Models,” Resources Policy, 2013.


Energy Finance
Risk Management
Game Theory
Managerial Economics