MIT Department of Economics
Encyclopedia
The MIT Department of Economics is a department of the Massachusetts Institute of Technology
in Cambridge, Massachusetts
.
Undergraduate studies in economics were introduced in the 19th century by institute president Francis Amasa Walker
. The department's Ph.D. program was introduced in 1941.
Massachusetts Institute of Technology
The Massachusetts Institute of Technology is a private research university located in Cambridge, Massachusetts. MIT has five schools and one college, containing a total of 32 academic departments, with a strong emphasis on scientific and technological education and research.Founded in 1861 in...
in Cambridge, Massachusetts
Cambridge, Massachusetts
Cambridge is a city in Middlesex County, Massachusetts, United States, in the Greater Boston area. It was named in honor of the University of Cambridge in England, an important center of the Puritan theology embraced by the town's founders. Cambridge is home to two of the world's most prominent...
.
Undergraduate studies in economics were introduced in the 19th century by institute president Francis Amasa Walker
Francis Amasa Walker
Francis Amasa Walker was an American economist, statistician, journalist, educator, academic administrator, and military officer in the Union Army. Walker was born into a prominent Boston family, the son of the economist and politician Amasa Walker, and he graduated from Amherst College at the age...
. The department's Ph.D. program was introduced in 1941.
Prominent faculty
- Paul SamuelsonPaul SamuelsonPaul Anthony Samuelson was an American economist, and the first American to win the Nobel Memorial Prize in Economic Sciences. The Swedish Royal Academies stated, when awarding the prize, that he "has done more than any other contemporary economist to raise the level of scientific analysis in...
(1940–2009), Nobel Prize, 1970 - Franco ModiglianiFranco ModiglianiFranco Modigliani was an Italian economist at the MIT Sloan School of Management and MIT Department of Economics, and winner of the Nobel Memorial Prize in Economics in 1985.-Life and career:...
(1962–2003), Nobel Prize, 1985 - John WilliamsonJohn Williamson (economist)John Williamson, born 1937, is an economist and coined the term Washington Consensus. He is a critic of capital liberalization and the bipolar Exchange rate....
(1967–1980), originator of the 'Washington ConsensusWashington ConsensusThe term Washington Consensus was coined in 1989 by the economist John Williamson to describe a set of ten relatively specific economic policy prescriptions that he considered constituted the "standard" reform package promoted for crisis-wracked developing countries...
' - Robert SolowRobert SolowRobert Merton Solow is an American economist particularly known for his work on the theory of economic growth that culminated in the exogenous growth model named after him...
, Nobel Prize, 1987 - Stanley FischerStanley FischerStanley "Stan" Fischer is an American-Israeli economist and the current Governor of the Bank of Israel. He previously served as Chief Economist at the World Bank.-Biography:...
, (1977–1999), governor, Bank of IsraelBank of IsraelThe Bank of Israel is the central bank of Israel. It is located in Kiryat HaMemshala in Israel's capital city of Jerusalem, with a branch office in Tel Aviv. The current governor is Stanley Fischer.-History:... - Robert F. EngleRobert F. EngleRobert Fry Engle III is an American economist and the winner of the 2003 Nobel Memorial Prize in Economic Sciences, sharing the award with Clive Granger, "for methods of analyzing economic time series with time-varying volatility ".-Biography:Engle was born in Syracuse, New York and went on to...
- Daniel McFaddenDaniel McFaddenDaniel Little McFadden is an econometrician who shared the 2000 Nobel Memorial Prize in Economic Sciences with James Heckman ; McFadden's share of the prize was "for his development of theory and methods for analyzing discrete choice". He was the E. Morris Cox Professor of Economics at the...
- George P. ShultzGeorge P. ShultzGeorge Pratt Shultz is an American economist, statesman, and businessman. He served as the United States Secretary of Labor from 1969 to 1970, as the U.S. Secretary of the Treasury from 1972 to 1974, and as the U.S. Secretary of State from 1982 to 1989...
- Myron S. Scholes Nobel prize in 1997 for the Black-Scholes equation
- Rudi DornbuschRudi DornbuschRüdiger "Rudi" Dornbusch was a German economist who worked for most of his career in the United States.-Biography:...
- Francesco GiavazziFrancesco GiavazziFrancesco Giavazzi is an Italian economist who is currently Professor of Economics at Bocconi University, and a regular visiting professor at MIT.-Biography:...
Alumni
- Lawrence KleinLawrence KleinLawrence Robert Klein is an American economist. For his work in creating computer models to forecast economic trends in the field of econometrics at the Wharton School of the University of Pennsylvania, he was awarded the Nobel Memorial Prize in Economic Sciences in 1980...
(Ph.D., 1944), Nobel Prize, 1980 - Robert MundellRobert MundellRobert Mundell, CC is a Nobel Prize-winning Canadian economist. Currently, Mundell is a professor of economics at Columbia University and the Chinese University of Hong Kong....
(Ph.D., 1956), Nobel Prize, 1999 - George AkerlofGeorge AkerlofGeorge Arthur Akerlof is an American economist and Koshland Professor of Economics at the University of California, Berkeley. He won the 2001 Nobel Prize in Economics George Arthur Akerlof (born June 17, 1940) is an American economist and Koshland Professor of Economics at the University of...
(Ph.D., 1966), Nobel Prize 2001 - Joseph E. StiglitzJoseph E. StiglitzJoseph Eugene Stiglitz, ForMemRS, FBA, is an American economist and a professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences and the John Bates Clark Medal . He is also the former Senior Vice President and Chief Economist of the World Bank...
(Ph.D., 1967), Nobel Prize, 2001 - William NordhausWilliam NordhausWilliam Dawbney "Bill" Nordhaus is the Sterling Professor of Economics at Yale University. Nordhaus lives in New Haven, Connecticut, with his wife Barbara.-Career:...
(Ph.D., 1967), Council of Economic AdvisersCouncil of Economic AdvisersThe Council of Economic Advisers is an agency within the Executive Office of the President that advises the President of the United States on economic policy...
1977 - 1979 - Robert C. MertonRobert C. MertonRobert Carhart Merton is an American economist, Nobel laureate in Economics, and professor at the MIT Sloan School of Management.-Biography:...
(Ph.D, 1970), Nobel Prize, 1997 - Tommaso Padoa-SchioppaTommaso Padoa-SchioppaTommaso Padoa-Schioppa , Knight Grand Cross was a well-known pro-European Italian banker and economist who was Italy's Minister of Economy and Finance from May 2006 until May 2008...
, (M.Sc. 1970), European Central BankEuropean Central BankThe European Central Bank is the institution of the European Union that administers the monetary policy of the 17 EU Eurozone member states. It is thus one of the world's most important central banks. The bank was established by the Treaty of Amsterdam in 1998, and is headquartered in Frankfurt,...
Executive Board 1998-2005, Former Italian Minister of Economy and Finance - Martin Neil BailyMartin Neil BailyMartin Neil Baily is an economist at the Brookings Institution and formerly at the Peterson Institute. He is best known for his work on productivity and competitiveness and for his tenure as a cabinet member during the Clinton Administration...
(Ph.D., 1972), Council of Economic AdvisersCouncil of Economic AdvisersThe Council of Economic Advisers is an agency within the Executive Office of the President that advises the President of the United States on economic policy...
Chairman 1999 - 2001 - Lawrence SummersLawrence SummersLawrence Henry Summers is an American economist. He served as the 71st United States Secretary of the Treasury from 1999 to 2001 under President Bill Clinton. He was Director of the White House United States National Economic Council for President Barack Obama until November 2010.Summers is the...
(B.S.Bachelor of ScienceA Bachelor of Science is an undergraduate academic degree awarded for completed courses that generally last three to five years .-Australia:In Australia, the BSc is a 3 year degree, offered from 1st year on...
, 1975) Secretary of the TreasuryUnited States Secretary of the TreasuryThe Secretary of the Treasury of the United States is the head of the United States Department of the Treasury, which is concerned with financial and monetary matters, and, until 2003, also with some issues of national security and defense. This position in the Federal Government of the United...
, 1999–2001 - Mario DraghiMario DraghiMario Draghi is an Italian banker and economist who succeeded Jean-Claude Trichet as President of the European Central Bank on 1 November 2011...
(Ph.D., 1976) Governor of the Banca d'ItaliaBanca d'ItaliaBanca d'Italia is the central bank of Italy and part of the European System of Central Banks. It is located in Palazzo Koch, Roma, via Nazionale...
, Chairman of the Financial Stability ForumFinancial Stability ForumThe Financial Stability Forum was a group consisting of major national financial authorities such as finance ministries, central bankers, and international financial bodies. The Forum was founded in 1999 to promote international financial stability... - Paul KrugmanPaul KrugmanPaul Robin Krugman is an American economist, professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs at Princeton University, Centenary Professor at the London School of Economics, and an op-ed columnist for The New York Times...
(Ph.D., 1977), Nobel Prize, 2008 - Lucas PapademosLucas PapademosLucas Papademos is a Greek economist who has been appointed as Prime Minister of Greece since 11 November 2011.Previously, he was Governor of the Bank of Greece from 1994 to 2002 and Vice President of the European Central Bank from 2002 to 2010...
, (Ph.D. 1977), European Central Bank Vice President 2002 - - Ben BernankeBen BernankeBen Shalom Bernanke is an American economist, and the current Chairman of the Federal Reserve, the central bank of the United States. During his tenure as Chairman, Bernanke has overseen the response of the Federal Reserve to late-2000s financial crisis....
, (Ph.D., 1979) Chairman of the Federal ReserveChairman of the Federal ReserveThe Chairman of the Board of Governors of the Federal Reserve System is the head of the central banking system of the United States. Known colloquially as "Chairman of the Fed," or in market circles "Fed Chairman" or "Fed Chief"...
, 2006 - - N. Gregory MankiwN. Gregory MankiwNicholas Gregory "Greg" Mankiw is an American macroeconomist and Professor of Economics at Harvard University. Mankiw is known in academia for his work on New Keynesian economics....
(Ph.D., 1984), Council of Economic AdvisersCouncil of Economic AdvisersThe Council of Economic Advisers is an agency within the Executive Office of the President that advises the President of the United States on economic policy...
Chairman 2003 - 2005 - Andrew SamwickAndrew SamwickAndrew Alan Samwick is an American economist, who served as Chief Economist on the staff of the United States President's Council of Economic Advisors from July 2003 to July 2004. Samwick is currently Professor of Economics at Dartmouth College and the director of the Nelson A. Rockefeller Center...
(Ph.D. 1993), Council of Economic Advisers Chief Economist 2003 - 2004 - Steven LevittSteven LevittSteven David "Steve" Levitt is an American economist known for his work in the field of crime, in particular on the link between legalized abortion and crime rates. Winner of the 2004 John Bates Clark Medal, he is currently the William B...
(Ph.D. 1994), John Bates Clark MedalJohn Bates Clark MedalThe John Bates Clark Medal is awarded by the American Economic Association to "that American economist under the age of forty who is adjudged to have made a significant contribution to economic thought and knowledge"...
, 2003; author FreakonomicsFreakonomicsFreakonomics: A Rogue Economist Explores the Hidden Side of Everything is a 2005 non-fiction book by University of Chicago economist Steven Levitt and New York Times journalist Stephen J. Dubner. The book has been described as melding pop culture with economics, but has also been described as...
Nobel Laureates
Among the department's past and current faculty and alumni are several recipients of the Nobel Prize in Economics:- Peter A. DiamondPeter A. DiamondPeter Arthur Diamond is an American economist known for his analysis of U.S. Social Security policy and his work as an advisor to the Advisory Council on Social Security in the late 1980s and 1990s. He was awarded the Nobel Memorial Prize in Economic Sciences in 2010, along with Dale T. Mortensen...
, 2010 - Paul KrugmanPaul KrugmanPaul Robin Krugman is an American economist, professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs at Princeton University, Centenary Professor at the London School of Economics, and an op-ed columnist for The New York Times...
, 2008 - Eric MaskinEric MaskinEric Stark Maskin is an American economist and Nobel laureate recognized with Leonid Hurwicz and Roger Myerson "for having laid the foundations of mechanism design theory." He is the Albert O...
, 2007 - Robert F. EngleRobert F. EngleRobert Fry Engle III is an American economist and the winner of the 2003 Nobel Memorial Prize in Economic Sciences, sharing the award with Clive Granger, "for methods of analyzing economic time series with time-varying volatility ".-Biography:Engle was born in Syracuse, New York and went on to...
, 2003 - George AkerlofGeorge AkerlofGeorge Arthur Akerlof is an American economist and Koshland Professor of Economics at the University of California, Berkeley. He won the 2001 Nobel Prize in Economics George Arthur Akerlof (born June 17, 1940) is an American economist and Koshland Professor of Economics at the University of...
and Joseph Stiglitz, 2001 - Daniel McFaddenDaniel McFaddenDaniel Little McFadden is an econometrician who shared the 2000 Nobel Memorial Prize in Economic Sciences with James Heckman ; McFadden's share of the prize was "for his development of theory and methods for analyzing discrete choice". He was the E. Morris Cox Professor of Economics at the...
, 2000 - Robert MundellRobert MundellRobert Mundell, CC is a Nobel Prize-winning Canadian economist. Currently, Mundell is a professor of economics at Columbia University and the Chinese University of Hong Kong....
, 1999 - Robert C. MertonRobert C. MertonRobert Carhart Merton is an American economist, Nobel laureate in Economics, and professor at the MIT Sloan School of Management.-Biography:...
, 1997 - Robert SolowRobert SolowRobert Merton Solow is an American economist particularly known for his work on the theory of economic growth that culminated in the exogenous growth model named after him...
, 1987 - Franco ModiglianiFranco ModiglianiFranco Modigliani was an Italian economist at the MIT Sloan School of Management and MIT Department of Economics, and winner of the Nobel Memorial Prize in Economics in 1985.-Life and career:...
, 1985 - Lawrence KleinLawrence KleinLawrence Robert Klein is an American economist. For his work in creating computer models to forecast economic trends in the field of econometrics at the Wharton School of the University of Pennsylvania, he was awarded the Nobel Memorial Prize in Economic Sciences in 1980...
, 1980 - Paul SamuelsonPaul SamuelsonPaul Anthony Samuelson was an American economist, and the first American to win the Nobel Memorial Prize in Economic Sciences. The Swedish Royal Academies stated, when awarding the prize, that he "has done more than any other contemporary economist to raise the level of scientific analysis in...
, 1970
Professors
- Daron AcemogluDaron AcemogluKamer Daron Acemoğlu is a Turkish-American economist of Armenian origin. He is currently the Elizabeth and James Killian Professor of Economics at Massachusetts Institute of Technology and winner of the 2005 John Bates Clark Medal. He is among the in the world according to IDEAS/RePEc...
- George-Marios AngeletosGeorge-Marios AngeletosGeorge-Marios Angeletos is a Greek economist who is currently a Professor of Economics at MIT.Angeletos was born in Athens, Greece. He earned his B.A. degree in Economics from Athens University of Economics and Business in 1996, and received his M.Sc. in Economics in 1997 from the same university...
- Joshua AngristJoshua AngristJoshua David Angrist is an American economist. He is Professor of Economics at the Massachusetts Institute of Technology. Angrist, a labor economist, has taught at the university level since 1989...
- David Autor
- Abhijit BanerjeeAbhijit BanerjeeAbhijit Vinayak Banerjee is an Indian economist. He is currently the Ford Foundation International Professor of Economics at the Massachusetts Institute of Technology...
- Olivier BlanchardOlivier BlanchardOlivier Jean Blanchard is currently the chief economist at the International Monetary Fund, a post he has held since September 1, 2008. He is also the Class of 1941 Professor of Economics at MIT, though he is currently on leave. Blanchard is one of the most cited economists in the world, according...
[past Department Head] - Ricardo J. CaballeroRicardo J. CaballeroRicardo Jorge Caballero is a Chilean macroeconomist who holds the Ford International chair of economics at the Massachusetts Institute of Technology. He received his PhD from MIT in 1988, and he taught at Columbia University before returning to the MIT faculty...
[current Department Head] - Victor Chernozhukov
- Peter A. DiamondPeter A. DiamondPeter Arthur Diamond is an American economist known for his analysis of U.S. Social Security policy and his work as an advisor to the Advisory Council on Social Security in the late 1980s and 1990s. He was awarded the Nobel Memorial Prize in Economic Sciences in 2010, along with Dale T. Mortensen...
[past Department Head] - Esther DufloEsther DufloEsther Duflo is a French economist, currently the Abdul Latif Jameel Professor of Poverty Alleviation and Development Economics at the Massachusetts Institute of Technology. She is also co-founder and the Director of the Abdul Latif Jameel Poverty Action Lab...
- Glenn Ellison
- Amy Finkelstein
- Robert S. Gibbons
- Michael Greenstone
- Jonathan Gruber
- Jeffrey HarrisJeffrey HarrisJeffrey Harris is a New Zealand artist. Harris started his career in Christchurch, moving to Dunedin, New Zealand in 1969. In the early 1980s he worked briefly in the United States, before moving to Melbourne, Australia in 1986. In 2000 he returned to Dunedin, where he still lives...
- Jerry A. HausmanJerry A. HausmanJerry A. Hausman is the John and Jennie S. MacDonald Professor of Economics at the Massachusetts Institute of Technology and a famous econometrician. He has also published numerous papers in applied microeconomics...
- Bengt R. HolmströmBengt R. HolmströmBengt Robert Holmström is the Paul A. Samuelson Professor of Economics at M.I.T. He is a Finnish citizen and belongs to the Swedish speaking minority in Finland....
[past Department Head] - Whitney K. NeweyWhitney K. NeweyWhitney K. Newey is the Jane Berkowitz Carlton and Dennis William Carlton Professor of Economics at the Massachusetts Institute of Technology and a well-known econometrician. He is best known for developing, with Kenneth D...
- Michael J. PioreMichael J. PioreMichael Joseph Piore is an American economist and professor of economics at the Massachusetts Institute of Technology. His research centers on labor economics, immigration, and innovation. He was awarded a MacArthur Fellowship in 1984....
- James M. PoterbaJames M. PoterbaJames Michael "Jim" Poterba is an American economist, Mitsui Professor of Economics at the Massachusetts Institute of Technology, and current NBER president and chief executive officer.- Early years :...
[past Department Head] - Drazen PrelecDrazen PrelecDrazen Prelec is a professor of management science and economics in the MIT Sloan School of Management, and a pioneer in the field of neuroeconomics....
- Nancy Rose
- Stephen RossStephen Ross (economist)Stephen Alan "Steve" Ross is the inaugural Franco Modigliani Professor of Financial Economics at the MIT Sloan School of Management. He is known for initiating several important theories and models in financial economics...
- Richard L. SchmalenseeRichard L. SchmalenseeRichard Lee "Dick" Schmalensee is the John C. Head III Dean, Emeritus and the Howard W. Johnson Professor of Management and Economics at the MIT Sloan School of Management...
- Lester ThurowLester ThurowLester Carl Thurow is a former dean of the MIT Sloan School of Management and author of books on economic topics. Thurow was born in Livingston, Montana.-Education:...
- Robert M. TownsendRobert M. TownsendRobert M. Townsend is an American economist and professor, the Elizabeth and James Killian Professor of Economics at Massachusetts Institute of Technology. Prior to joining MIT, he was the Charles E...
- Iván WerningIván WerningIván Werning is an Argentine economist. He is currently a professor at the MIT Department of Economics.A native of Argentina, Werning earned his B.A. from Universidad de San Andrés and his M.A. from Universidad Torcuato di Tella, both in Buenos Aires. Werning earned his Ph.D...
- William Wheaton
- Muhamet Yildiz
Assistant Professors
- Dave Donaldson
- Panle Jia
- Mihai Manea
- Anna Mikusheva
- Parag Pathak
- Juuso Toikka
- Heidi Williams
Professors Emeriti
- Morris Adelman
- Sidney AlexanderSidney S. AlexanderSidney S. Alexander was an American economist who was associated with the Massachusetts Institute of Technology....
- Robert L. Bishop
- Richard S. Eckaus [past Department Head]
- Franklin M. FisherFranklin M. FisherFranklin Marvin Fisher is an American economist. He has taught economics at the Massachusetts Institute of Technology since 1960.-Biography:...
- Stanley FischerStanley FischerStanley "Stan" Fischer is an American-Israeli economist and the current Governor of the Bank of Israel. He previously served as Chief Economist at the World Bank.-Biography:...
[past Department Head] - Paul JoskowPaul JoskowPaul Lewis Joskow became President of the Alfred P. Sloan Foundation on January 1, 2008. He is also the Elizabeth and James Killian Professor of Economics, Emeritus at MIT. He has served on the MIT faculty since 1972. From 1994 through 1998 he was Head of the MIT Department of Economics...
[past Department Head] - Jerome Rothenberg
- Paul SamuelsonPaul SamuelsonPaul Anthony Samuelson was an American economist, and the first American to win the Nobel Memorial Prize in Economic Sciences. The Swedish Royal Academies stated, when awarding the prize, that he "has done more than any other contemporary economist to raise the level of scientific analysis in...
- Abraham J. Seigel
- Robert SolowRobert SolowRobert Merton Solow is an American economist particularly known for his work on the theory of economic growth that culminated in the exogenous growth model named after him...
- Peter TeminPeter TeminDr. Peter Temin is a widely cited economist and economic historian, currently Gray Professor Emeritus of Economics, MIT and former head of the Economics Department....
[past Department Head]
Former Faculty
- Susan AtheySusan AtheySusan Carleton Athey is an American economist. She is currently Professor of Economics at Harvard University and the first female winner of the John Bates Clark Medal.- Early life :...
(Ph.D., StanfordStanford Graduate School of BusinessThe Stanford Graduate School of Business is one of the professional schools of Stanford University, in Stanford, California and is broadly regarded as one of the best business schools in the world.The Stanford GSB offers a general management Master of Business Administration degree, the Sloan...
) John Bates Clark MedalJohn Bates Clark MedalThe John Bates Clark Medal is awarded by the American Economic Association to "that American economist under the age of forty who is adjudged to have made a significant contribution to economic thought and knowledge"...
, 2007 - E. Cary Brown (Ph.D., HarvardHarvard UniversityHarvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
) Professor of Economics, Emeritus - Evsey DomarEvsey DomarEvsey David Domar was a Russian American economist, famous as co-author of the Harrod–Domar model.- Life :Evsey Domar was born on April 16, 1914 in the Polish city of Łódź, which belonged to Russia at that time...
(Ph.D., HarvardHarvard UniversityHarvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
) - Rudi DornbuschRudi DornbuschRüdiger "Rudi" Dornbusch was a German economist who worked for most of his career in the United States.-Biography:...
(Ph.D., ChicagoUniversity of ChicagoThe University of Chicago is a private research university in Chicago, Illinois, USA. It was founded by the American Baptist Education Society with a donation from oil magnate and philanthropist John D. Rockefeller and incorporated in 1890...
) Ford International Professor, International Economics - Robert F. EngleRobert F. EngleRobert Fry Engle III is an American economist and the winner of the 2003 Nobel Memorial Prize in Economic Sciences, sharing the award with Clive Granger, "for methods of analyzing economic time series with time-varying volatility ".-Biography:Engle was born in Syracuse, New York and went on to...
(Ph.D., CornellCornell UniversityCornell University is an Ivy League university located in Ithaca, New York, United States. It is a private land-grant university, receiving annual funding from the State of New York for certain educational missions...
) - Stanley FischerStanley FischerStanley "Stan" Fischer is an American-Israeli economist and the current Governor of the Bank of Israel. He previously served as Chief Economist at the World Bank.-Biography:...
(Ph.D., MITMassachusetts Institute of TechnologyThe Massachusetts Institute of Technology is a private research university located in Cambridge, Massachusetts. MIT has five schools and one college, containing a total of 32 academic departments, with a strong emphasis on scientific and technological education and research.Founded in 1861 in...
) - Charles P. KindlebergerCharles P. KindlebergerCharles Poor "Charlie" Kindleberger was a historical economist and author of over 30 books. His 1978 book Manias, Panics, and Crashes, about speculative stock market bubbles, was reprinted in 2000 after the dot-com bubble. He is well known for hegemonic stability theory.-Life:Kindleberger was born...
(Ph.D., ColumbiaColumbia UniversityColumbia University in the City of New York is a private, Ivy League university in Manhattan, New York City. Columbia is the oldest institution of higher learning in the state of New York, the fifth oldest in the United States, and one of the country's nine Colonial Colleges founded before the...
) Ford International Professor of Economics, Emeritus - Edwin Kuh (Ph.D., HarvardHarvard UniversityHarvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
) - Paul KrugmanPaul KrugmanPaul Robin Krugman is an American economist, professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs at Princeton University, Centenary Professor at the London School of Economics, and an op-ed columnist for The New York Times...
(Ph.D., MITMassachusetts Institute of TechnologyThe Massachusetts Institute of Technology is a private research university located in Cambridge, Massachusetts. MIT has five schools and one college, containing a total of 32 academic departments, with a strong emphasis on scientific and technological education and research.Founded in 1861 in...
) John Bates Clark MedalJohn Bates Clark MedalThe John Bates Clark Medal is awarded by the American Economic Association to "that American economist under the age of forty who is adjudged to have made a significant contribution to economic thought and knowledge"...
, 1991 - Eric MaskinEric MaskinEric Stark Maskin is an American economist and Nobel laureate recognized with Leonid Hurwicz and Roger Myerson "for having laid the foundations of mechanism design theory." He is the Albert O...
(Ph.D., HarvardHarvard UniversityHarvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
) - Daniel McFaddenDaniel McFaddenDaniel Little McFadden is an econometrician who shared the 2000 Nobel Memorial Prize in Economic Sciences with James Heckman ; McFadden's share of the prize was "for his development of theory and methods for analyzing discrete choice". He was the E. Morris Cox Professor of Economics at the...
(Ph.D., MinnesotaUniversity of MinnesotaThe University of Minnesota, Twin Cities is a public research university located in Minneapolis and St. Paul, Minnesota, United States. It is the oldest and largest part of the University of Minnesota system and has the fourth-largest main campus student body in the United States, with 52,557...
) - Franco ModiglianiFranco ModiglianiFranco Modigliani was an Italian economist at the MIT Sloan School of Management and MIT Department of Economics, and winner of the Nobel Memorial Prize in Economics in 1985.-Life and career:...
(D.Jur., Rome and D.Soc.Sci., New School of Research) Institute Professor Emeritus; Professor of Finance & Economics - George P. ShultzGeorge P. ShultzGeorge Pratt Shultz is an American economist, statesman, and businessman. He served as the United States Secretary of Labor from 1969 to 1970, as the U.S. Secretary of the Treasury from 1972 to 1974, and as the U.S. Secretary of State from 1982 to 1989...
(Ph.D., MITMassachusetts Institute of TechnologyThe Massachusetts Institute of Technology is a private research university located in Cambridge, Massachusetts. MIT has five schools and one college, containing a total of 32 academic departments, with a strong emphasis on scientific and technological education and research.Founded in 1861 in...
) - Hal VarianHal VarianHal Ronald Varian is an economist specializing in microeconomics and information economics. He is the Chief Economist at Google and he holds the title of emeritus professor at the University of California, Berkeley where he was founding dean of the School of Information...
(Ph.D., BerkeleyUniversity of California, BerkeleyThe University of California, Berkeley , is a teaching and research university established in 1868 and located in Berkeley, California, USA...
)
Notable alumni
- Lawrence R. KleinLawrence KleinLawrence Robert Klein is an American economist. For his work in creating computer models to forecast economic trends in the field of econometrics at the Wharton School of the University of Pennsylvania, he was awarded the Nobel Memorial Prize in Economic Sciences in 1980...
(Ph.D., 1944) John Bates Clark MedalistJohn Bates Clark MedalThe John Bates Clark Medal is awarded by the American Economic Association to "that American economist under the age of forty who is adjudged to have made a significant contribution to economic thought and knowledge"...
, 1959; President of the Econometric SocietyEconometric SocietyThe Econometric Society is an international society for the advancement of economic theory in its relation with statistics and mathematics. It was founded on December 29, 1930 at the Stalton Hotel in Cleveland, Ohio....
, 1960; President of the American Economic AssociationAmerican Economic AssociationThe American Economic Association, or AEA, is a learned society in the field of economics, headquartered in Nashville, Tennessee. It publishes one of the most prestigious academic journals in economics: the American Economic Review...
, 1977; Laureate of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, 1980 - George P. ShultzGeorge P. ShultzGeorge Pratt Shultz is an American economist, statesman, and businessman. He served as the United States Secretary of Labor from 1969 to 1970, as the U.S. Secretary of the Treasury from 1972 to 1974, and as the U.S. Secretary of State from 1982 to 1989...
(Ph.D., 1949) Distinguished Fellow of the American Economic AssociationAmerican Economic AssociationThe American Economic Association, or AEA, is a learned society in the field of economics, headquartered in Nashville, Tennessee. It publishes one of the most prestigious academic journals in economics: the American Economic Review...
, 2004 - Mario DraghiMario DraghiMario Draghi is an Italian banker and economist who succeeded Jean-Claude Trichet as President of the European Central Bank on 1 November 2011...
(Ph.D., 1976) Governor of the Banca d'ItaliaBanca d'ItaliaBanca d'Italia is the central bank of Italy and part of the European System of Central Banks. It is located in Palazzo Koch, Roma, via Nazionale...
, Chairman of the Financial Stability ForumFinancial Stability ForumThe Financial Stability Forum was a group consisting of major national financial authorities such as finance ministries, central bankers, and international financial bodies. The Forum was founded in 1999 to promote international financial stability... - Robert A. MundellRobert MundellRobert Mundell, CC is a Nobel Prize-winning Canadian economist. Currently, Mundell is a professor of economics at Columbia University and the Chinese University of Hong Kong....
(Ph.D., 1956) Distinguished Fellow of the American Economic AssociationAmerican Economic AssociationThe American Economic Association, or AEA, is a learned society in the field of economics, headquartered in Nashville, Tennessee. It publishes one of the most prestigious academic journals in economics: the American Economic Review...
, 1996; Nobel Prize in Economics, 1999 - Peter A. DiamondPeter A. DiamondPeter Arthur Diamond is an American economist known for his analysis of U.S. Social Security policy and his work as an advisor to the Advisory Council on Social Security in the late 1980s and 1990s. He was awarded the Nobel Memorial Prize in Economic Sciences in 2010, along with Dale T. Mortensen...
(Ph.D., 1963) President of the Econometric SocietyEconometric SocietyThe Econometric Society is an international society for the advancement of economic theory in its relation with statistics and mathematics. It was founded on December 29, 1930 at the Stalton Hotel in Cleveland, Ohio....
, 1991; President of the American Economic AssociationAmerican Economic AssociationThe American Economic Association, or AEA, is a learned society in the field of economics, headquartered in Nashville, Tennessee. It publishes one of the most prestigious academic journals in economics: the American Economic Review...
, 2003 - Riccardo Faini, (PhD), Former Head of the Economic and Financial Analysis Service of the Italian Ministry of Treasury
- George A. AkerlofGeorge AkerlofGeorge Arthur Akerlof is an American economist and Koshland Professor of Economics at the University of California, Berkeley. He won the 2001 Nobel Prize in Economics George Arthur Akerlof (born June 17, 1940) is an American economist and Koshland Professor of Economics at the University of...
(Ph.D., 1966) Nobel Prize in Economics, 2001; President of the American Economic AssociationAmerican Economic AssociationThe American Economic Association, or AEA, is a learned society in the field of economics, headquartered in Nashville, Tennessee. It publishes one of the most prestigious academic journals in economics: the American Economic Review...
, 2006 - Joseph E. StiglitzJoseph E. StiglitzJoseph Eugene Stiglitz, ForMemRS, FBA, is an American economist and a professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences and the John Bates Clark Medal . He is also the former Senior Vice President and Chief Economist of the World Bank...
(Ph.D., 1966) John Bates Clark MedalistJohn Bates Clark MedalThe John Bates Clark Medal is awarded by the American Economic Association to "that American economist under the age of forty who is adjudged to have made a significant contribution to economic thought and knowledge"...
, 1979; Nobel Prize in Economics, 2001 - Jagdish N. BhagwatiJagdish BhagwatiJagdish Natwarlal Bhagwati is an Indian-American economist and professor of economics and law at Columbia University. He is well known for his research in international trade and for his advocacy of free trade....
(Ph.D., 1967) Distinguished Fellow of the American Economic AssociationAmerican Economic AssociationThe American Economic Association, or AEA, is a learned society in the field of economics, headquartered in Nashville, Tennessee. It publishes one of the most prestigious academic journals in economics: the American Economic Review...
, 2003 - Robert E. HallRobert Hall (economist)Robert Ernest "Bob" Hall is an American economist and a Robert and Carole McNeil Senior Fellow at Stanford University's Hoover Institution. He is generally considered a macroeconomist, but he describes himself as an "applied economist"....
(Ph.D., 1967) President of the American Economic AssociationAmerican Economic AssociationThe American Economic Association, or AEA, is a learned society in the field of economics, headquartered in Nashville, Tennessee. It publishes one of the most prestigious academic journals in economics: the American Economic Review...
, 2010 - William D. NordhausWilliam NordhausWilliam Dawbney "Bill" Nordhaus is the Sterling Professor of Economics at Yale University. Nordhaus lives in New Haven, Connecticut, with his wife Barbara.-Career:...
(Ph.D., 1967) Member of the Council of Economic AdvisersCouncil of Economic AdvisersThe Council of Economic Advisers is an agency within the Executive Office of the President that advises the President of the United States on economic policy...
, 1977–1979; Distinguished Fellow of the American Economic AssociationAmerican Economic AssociationThe American Economic Association, or AEA, is a learned society in the field of economics, headquartered in Nashville, Tennessee. It publishes one of the most prestigious academic journals in economics: the American Economic Review...
, 2004 - Avinash K. DixitAvinash DixitAvinash Kamalakar Dixit is an Indian-American economist originally of Indian nationality.-Education:Dixit received a B.Sc. from Bombay University in 1963 in Mathematics and Physics, a B.A...
(Ph.D., 1968) President of the Econometric SocietyEconometric SocietyThe Econometric Society is an international society for the advancement of economic theory in its relation with statistics and mathematics. It was founded on December 29, 1930 at the Stalton Hotel in Cleveland, Ohio....
, 2001; President of the American Economic AssociationAmerican Economic AssociationThe American Economic Association, or AEA, is a learned society in the field of economics, headquartered in Nashville, Tennessee. It publishes one of the most prestigious academic journals in economics: the American Economic Review...
, 2008 - Roberto Perotti (Ph.D., 1991) Full Professor at Bocconi UniversityBocconi UniversityBocconi University is a private university located in central Milan, beside Parco Ravizza. Bocconi provides undergraduate, graduate and post-graduate education, in addition to a range of double degree programs, in the fields of economics, management, finance and law. According to many university...
; Former Associate Professor with tenure at Columbia UniversityColumbia UniversityColumbia University in the City of New York is a private, Ivy League university in Manhattan, New York City. Columbia is the oldest institution of higher learning in the state of New York, the fifth oldest in the United States, and one of the country's nine Colonial Colleges founded before the...
, 1991–2001 - Michael RothschildMichael RothschildMichael Rothschild is an American economist; he is visiting professor at the Department of Economics of the University of California in Los Angeles and a former dean at Princeton.- Education :...
, (Ph.D., 1968) Distinguished Fellow of the American Economic AssociationAmerican Economic AssociationThe American Economic Association, or AEA, is a learned society in the field of economics, headquartered in Nashville, Tennessee. It publishes one of the most prestigious academic journals in economics: the American Economic Review...
, 2005 - Stanley FischerStanley FischerStanley "Stan" Fischer is an American-Israeli economist and the current Governor of the Bank of Israel. He previously served as Chief Economist at the World Bank.-Biography:...
(Ph.D., 1969) Governor of the Bank of IsraelBank of IsraelThe Bank of Israel is the central bank of Israel. It is located in Kiryat HaMemshala in Israel's capital city of Jerusalem, with a branch office in Tel Aviv. The current governor is Stanley Fischer.-History:... - Andrea Ichino (Ph.D., 1990) Full Professor at University of BolognaUniversity of BolognaThe Alma Mater Studiorum - University of Bologna is the oldest continually operating university in the world, the word 'universitas' being first used by this institution at its foundation. The true date of its founding is uncertain, but believed by most accounts to have been 1088...
; Former Professor at European University InstituteEuropean University InstituteThe European University Institute ' in Florence is an international postgraduate and post-doctoral teaching and research institute established by European Union member states to contribute to cultural and scientific development in the social sciences, in a European perspective...
, 1997–2005 - Robert C. MertonRobert C. MertonRobert Carhart Merton is an American economist, Nobel laureate in Economics, and professor at the MIT Sloan School of Management.-Biography:...
(Ph.D., 1970) President of the American Finance AssociationAmerican Finance AssociationThe American Finance Association is an academic organization whose focus is the study and promotion of knowledge of financial economics. It was formed in 1939...
, 1986; Nobel Prize in Economics, 1997 - Tommaso Padoa-SchioppaTommaso Padoa-SchioppaTommaso Padoa-Schioppa , Knight Grand Cross was a well-known pro-European Italian banker and economist who was Italy's Minister of Economy and Finance from May 2006 until May 2008...
(M.Sc., 1970) European Central BankEuropean Central BankThe European Central Bank is the institution of the European Union that administers the monetary policy of the 17 EU Eurozone member states. It is thus one of the world's most important central banks. The bank was established by the Treaty of Amsterdam in 1998, and is headquartered in Frankfurt,...
Executive Board, 1998–2005 - Jeremy J. SiegelJeremy SiegelJeremy James Siegel is the Russell E. Palmer Professor of Finance at the Wharton School of the University of Pennsylvania in Philadelphia, Pennsylvania...
(Ph.D., 1971) financial markets guru - Martin Neil BailyMartin Neil BailyMartin Neil Baily is an economist at the Brookings Institution and formerly at the Peterson Institute. He is best known for his work on productivity and competitiveness and for his tenure as a cabinet member during the Clinton Administration...
(Ph.D., 1972) Chairman of the Council of Economic AdvisersCouncil of Economic AdvisersThe Council of Economic Advisers is an agency within the Executive Office of the President that advises the President of the United States on economic policy...
, 1999–2001 - Robert J. ShillerRobert ShillerRobert James "Bob" Shiller is an American economist, academic, and best-selling author. He currently serves as the Arthur M. Okun Professor of Economics at Yale University and is a Fellow at the Yale International Center for Finance, Yale School of Management...
(Ph.D., 1972) Fellow of the American Finance AssociationAmerican Finance AssociationThe American Finance Association is an academic organization whose focus is the study and promotion of knowledge of financial economics. It was formed in 1939...
, 2006 - Paul R. KrugmanPaul KrugmanPaul Robin Krugman is an American economist, professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs at Princeton University, Centenary Professor at the London School of Economics, and an op-ed columnist for The New York Times...
(Ph.D., 1977) Member of the Council of Economic AdvisersCouncil of Economic AdvisersThe Council of Economic Advisers is an agency within the Executive Office of the President that advises the President of the United States on economic policy...
, 1982–1983; John Bates Clark MedalistJohn Bates Clark MedalThe John Bates Clark Medal is awarded by the American Economic Association to "that American economist under the age of forty who is adjudged to have made a significant contribution to economic thought and knowledge"...
, 1991; Nobel Prize in Economics, 2008 - Lucas PapademosLucas PapademosLucas Papademos is a Greek economist who has been appointed as Prime Minister of Greece since 11 November 2011.Previously, he was Governor of the Bank of Greece from 1994 to 2002 and Vice President of the European Central Bank from 2002 to 2010...
(Ph.D., 1977) Vice President of the European Central BankEuropean Central BankThe European Central Bank is the institution of the European Union that administers the monetary policy of the 17 EU Eurozone member states. It is thus one of the world's most important central banks. The bank was established by the Treaty of Amsterdam in 1998, and is headquartered in Frankfurt,...
, 2002- - Ben S. BernankeBen BernankeBen Shalom Bernanke is an American economist, and the current Chairman of the Federal Reserve, the central bank of the United States. During his tenure as Chairman, Bernanke has overseen the response of the Federal Reserve to late-2000s financial crisis....
(Ph.D., 1979) Chairman of the Federal ReserveChairman of the Federal ReserveThe Chairman of the Board of Governors of the Federal Reserve System is the head of the central banking system of the United States. Known colloquially as "Chairman of the Fed," or in market circles "Fed Chairman" or "Fed Chief"...
, 2006- - Kenneth S. RogoffKenneth RogoffKenneth Saul "Ken" Rogoff is currently the Thomas D. Cabot Professor of Public Policy and Professor of Economics at Harvard University. He is also a chess Grandmaster.-Early life:...
(Ph.D., 1980) IMF Chief Economist - Jean TiroleJean TiroleJean Marcel Tirole is a French professor of economics. He works on industrial organization, game theory, banking and finance, and economics and psychology. Tirole is director of the Jean-Jacques Laffont Foundation at the Toulouse School of Economics, and scientific director of the Industrial...
(Ph.D., 1981) President of the Econometric SocietyEconometric SocietyThe Econometric Society is an international society for the advancement of economic theory in its relation with statistics and mathematics. It was founded on December 29, 1930 at the Stalton Hotel in Cleveland, Ohio....
, 1998; President of the European Economic AssociationEuropean Economic AssociationThe European Economic Association is a professional academic body which links European economists. It was founded in the mid-1980s. Its first annual congress was in 1986 in Vienna, Austria...
, 2001 - N. Gregory MankiwN. Gregory MankiwNicholas Gregory "Greg" Mankiw is an American macroeconomist and Professor of Economics at Harvard University. Mankiw is known in academia for his work on New Keynesian economics....
(Ph.D., 1984) Chairman of the Council of Economic AdvisersCouncil of Economic AdvisersThe Council of Economic Advisers is an agency within the Executive Office of the President that advises the President of the United States on economic policy...
, 2003–2005 - Andrei ShleiferAndrei ShleiferAndrei Shleifer is a Russian American economist. From its inauguration in 1992 until it was shut down in 1997, Shleifer served as project director of the Harvard Institute for International Developments Russian aid project...
(Ph.D., 1986) John Bates Clark MedalistJohn Bates Clark MedalThe John Bates Clark Medal is awarded by the American Economic Association to "that American economist under the age of forty who is adjudged to have made a significant contribution to economic thought and knowledge"...
, 1999 - Matthew RabinMatthew RabinMatthew Joel Rabin is the Edward G. and Nancy S. Jordan Professor of Economics in the Department of Economics at the University of California, Berkeley...
(Ph.D., 1989) John Bates Clark MedalistJohn Bates Clark MedalThe John Bates Clark Medal is awarded by the American Economic Association to "that American economist under the age of forty who is adjudged to have made a significant contribution to economic thought and knowledge"...
, 2001 - Andrew SamwickAndrew SamwickAndrew Alan Samwick is an American economist, who served as Chief Economist on the staff of the United States President's Council of Economic Advisors from July 2003 to July 2004. Samwick is currently Professor of Economics at Dartmouth College and the director of the Nelson A. Rockefeller Center...
(Ph.D., 1993) Member of the Council of Economic AdvisersCouncil of Economic AdvisersThe Council of Economic Advisers is an agency within the Executive Office of the President that advises the President of the United States on economic policy...
, 2003–2004 - Steven D. LevittSteven LevittSteven David "Steve" Levitt is an American economist known for his work in the field of crime, in particular on the link between legalized abortion and crime rates. Winner of the 2004 John Bates Clark Medal, he is currently the William B...
(Ph.D., 1994) John Bates Clark MedalistJohn Bates Clark MedalThe John Bates Clark Medal is awarded by the American Economic Association to "that American economist under the age of forty who is adjudged to have made a significant contribution to economic thought and knowledge"...
, 2003; co-author of FreakonomicsFreakonomicsFreakonomics: A Rogue Economist Explores the Hidden Side of Everything is a 2005 non-fiction book by University of Chicago economist Steven Levitt and New York Times journalist Stephen J. Dubner. The book has been described as melding pop culture with economics, but has also been described as... - Emmanuel SaezEmmanuel SaezEmmanuel Saez is a French economist. Saez is Professor of Economics at the University of California, Berkeley...
(Ph.D., 1999) John Bates Clark MedalistJohn Bates Clark MedalThe John Bates Clark Medal is awarded by the American Economic Association to "that American economist under the age of forty who is adjudged to have made a significant contribution to economic thought and knowledge"...
, 2009 - Esther DufloEsther DufloEsther Duflo is a French economist, currently the Abdul Latif Jameel Professor of Poverty Alleviation and Development Economics at the Massachusetts Institute of Technology. She is also co-founder and the Director of the Abdul Latif Jameel Poverty Action Lab...
(Ph.D., 1999) John Bates Clark MedalistJohn Bates Clark MedalThe John Bates Clark Medal is awarded by the American Economic Association to "that American economist under the age of forty who is adjudged to have made a significant contribution to economic thought and knowledge"...
, 2010 - Jonathan Levin (Ph.D., 1999) John Bates Clark MedalistJohn Bates Clark MedalThe John Bates Clark Medal is awarded by the American Economic Association to "that American economist under the age of forty who is adjudged to have made a significant contribution to economic thought and knowledge"...
, 2011