Professor Smiley is an authority on competitive strategy, economics and economic trends, industrial structure, public policy analysis, antitrust policy and regulation. His course on Markets and the Firm concentrates on supply and demand, efficiency, pricing, the use and interpretation of economic data, and the rationale and effects of government policies on business. He can also comment on the impact that acts of terrorism, war and other major events can have on financial markets and business and consumer confidence.

Professor Smiley is a noted wine industry economist who studies global and national trends in the industry. He conducts an annual survey of wine industry insiders and CEOs of wineries, vineyards, distributors and wine sellers. He presents his research and findings at industry symposiums and conferences, and executive education programs for wine industry professionals.

Professor Smiley served as dean of the UC Davis Graduate School of Management from 1989 to June 2003.