Hi jschaffer
In addition to @Chris_Hofer excellent answer, you can also change the default time zone for all courses in an account or for any course of which you are the instructor.
Here are the relevant guides/Instructions:
Instructor: How do I set a time zone for my course?
Admin: 612 - Account Settings on Vimeo (video has content relevant to this discussion at 1:00 in).
If you have admin access, click on the Admin button and select your account. Click on the Settings tab for your account and select the default time zone. It'll look something like this:

Hope this helps and let me know if I can clarify anything!
Thanks!
Sarah
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