MIT Department Of Economics - Mit Economics

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, while the department's Ph.D. program was introduced in 1941. It is one of the "big five" schools in the field along with the faculties at the University of Chicago, Harvard, Princeton, and Stanford (these schools have consistently ranked as the top five schools in the country since graduate school rankings have been produced by U.S. News & World Report). The American Economics Association estimates that MIT and these peers produce half of all tenure track professors at U.S. research universities.

Prominent faculty

Paul Samuelson (1940â€"2009), Nobel Prize, 1970
Franco Modigliani (1962â€"2003), Nobel Prize, 1985
John Williamson (1967â€"1980), originator of the 'Washington Consensus'
Robert Solow, (1960-1979) Nobel Prize, 1987
Stanley Fischer, (1977â€"1988), Vice-Chairman of the US Federal Reserve, Governor of Bank of Israel
Robert F. Engle, (1969-1977), Nobel Prize, 2003
Daniel McFadden, (1977-1991), Nobel Prize 2000
George P. Shultz, (1948-1957), Former Secretary of State, Secretary of Treasury, Secretary of Labour
Myron S. Scholes (1968-1973), Nobel prize in 1997 for the Black-Scholes equation
Rudi Dornbusch (1975-2002), known for the Overshooting Model
Francesco Giavazzi (1989â€"Present)

Alumni

Lawrence Klein (Ph.D., 1944), Nobel Prize, 1980
Robert Mundell (Ph.D., 1956), Nobel Prize, 1999
George Akerlof (Ph.D., 1966), Nobel Prize 2001
Joseph E. Stiglitz (Ph.D., 1967), Nobel Prize, 2001
William Nordhaus (Ph.D., 1967), Council of Economic Advisers 1977 - 1979
Robert C. Merton (Ph.D, 1970), Nobel Prize, 1997
Tommaso Padoa-Schioppa, (M.Sc. 1970), European Central Bank Executive Board 1998-2005, Former Italian Minister of Economy and Finance
Martin Neil Baily (Ph.D., 1972), Council of Economic Advisers Chairman 1999 - 2001
Lawrence Summers (B.S., 1975) Secretary of the Treasury, 1999â€"2001
Mario Draghi (Ph.D., 1976) President of the European Central Bank 2011-, Governor of the Banca d'Italia, Chairman of the Financial Stability Forum
Paul Krugman (Ph.D., 1977), Nobel Prize, 2008
Lucas Papademos, (Ph.D. 1977), European Central Bank Vice President 2002 -
Ben Bernanke, (Ph.D., 1979) Chairman of the Federal Reserve, 2006 -
N. Gregory Mankiw (Ph.D., 1984), Council of Economic Advisers Chairman 2003 - 2005
Andrew Samwick (Ph.D. 1993), Council of Economic Advisers Chief Economist 2003 - 2004
Steven Levitt (Ph.D. 1994), John Bates Clark Medal, 2003; author Freakonomics
Esther Duflo (Ph.D. 1999), John Bates Clark Medal, 2010; co-author Poor Economics

Nobel Laureates

Among the department's past and current faculty and alumni are several recipients of the Nobel Prize in Economics:

Bengt Holmstrom, 2016
Jean Tirole, 2014
Robert J. Shiller, 2013
Peter A. Diamond, 2010
Oliver E. Williamson, 2009
Paul Krugman, 2008
Eric Maskin, 2007
Edmund Phelps, 2006
Robert J. Aumann, 2005
Robert F. Engle, 2003
George Akerlof and Joseph Stiglitz, 2001
Daniel McFadden, 2000
Robert Mundell, 1999
Amartya Sen, 1998
Robert C. Merton, 1997
Robert Solow, 1987
Franco Modigliani, 1985
Lawrence Klein, 1980
Paul Samuelson, 1970

Current Faculty

Professors

Daron Acemoglu
George-Marios Angeletos
Joshua Angrist
David Autor
Abhijit Banerjee
Olivier Blanchard [past Department Head]
Ricardo J. Caballero [current Department Head]
Victor Chernozhukov
Peter A. Diamond [past Department Head]
Esther Duflo
Glenn Ellison
Amy Finkelstein
Robert S. Gibbons
Michael Greenstone
Jonathan Gruber
Jeffrey Harris
Jerry A. Hausman
Bengt R. HolmstrÃ¶m [past Department Head]
Whitney K. Newey
Michael J. Piore
James M. Poterba [past Department Head]
Drazen Prelec
Nancy Rose
Stephen Ross
Richard L. Schmalensee
Lester Thurow
Robert M. Townsend
IvÃ¡n Werning
William Wheaton
Benjamin Olken
Muhamet Yildiz

Associate Professors

Guido Lorenzoni
Stephen P. Ryan

Assistant Professors

Dave Donaldson
Panle Jia
Mihai Manea
Anna Mikusheva
Parag Pathak
Juuso Toikka
Heidi Williams

Senior Lecturer

Sara Fisher Ellison

Professors Emeriti

Morris Adelman
Sidney Alexander
Robert L. Bishop [former Department Head, former Dean School of Humanities, Arts, and Social Sciences]
Richard S. Eckaus [past Department Head]
Franklin M. Fisher
Stanley Fischer [past Department Head]
Paul Joskow [past Department Head]
Jerome Rothenberg
Paul Samuelson
Abraham J. Seigel
Robert Solow
Peter Temin [past Department Head]

Affiliated Faculty

Mathias Dewatripont
Ernst Fehr
Jean Tirole

Former Faculty

Susan Athey (Ph.D., Stanford) John Bates Clark Medal, 2007
E. Cary Brown (Ph.D., Harvard) Professor of Economics, Emeritus
Evsey Domar (Ph.D., Harvard)
Rudi Dornbusch (Ph.D., Chicago) Ford International Professor, International Economics
Robert F. Engle (Ph.D., Cornell)
Stanley Fischer (Ph.D., MIT)
Charles P. Kindleberger (Ph.D., Columbia) Ford International Professor of Economics, Emeritus
Edwin Kuh (Ph.D., Harvard)
Paul Krugman (Ph.D., MIT) John Bates Clark Medal, 1991
Eric Maskin (Ph.D., Harvard)
Daniel McFadden (Ph.D., Minnesota)
Franco Modigliani (D.Jur., Rome and D.Soc.Sci., New School of Research) Institute Professor Emeritus; Professor of Finance & Economics
George P. Shultz (Ph.D., MIT)
Hal Varian (Ph.D., Berkeley)

Notable alumni

Lawrence R. Klein (Ph.D., 1944) John Bates Clark Medalist, 1959; President of the Econometric Society, 1960; President of the American Economic Association, 1977; Laureate of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, 1980
George P. Shultz (Ph.D., 1949) Distinguished Fellow of the American Economic Association, 2004
Mario Draghi (Ph.D., 1976) Governor of the Banca d'Italia, Chairman of the Financial Stability Forum, President of the European Central Bank
Robert A. Mundell (Ph.D., 1956) Distinguished Fellow of the American Economic Association, 1996; Laureate of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, 1999
Peter A. Diamond (Ph.D., 1963) President of the Econometric Society, 1991; President of the American Economic Association, 2003; Laureate of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, 2010
Riccardo Faini, (PhD), Former Head of the Economic and Financial Analysis Service of the Italian Ministry of Treasury
George A. Akerlof (Ph.D., 1966) Laureate of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, 2001; President of the American Economic Association, 2006
Joseph E. Stiglitz (Ph.D., 1966) John Bates Clark Medalist, 1979; Laureate of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, 2001
Jagdish N. Bhagwati (Ph.D., 1967) Distinguished Fellow of the American Economic Association, 2003
Robert E. Hall (Ph.D., 1967) President of the American Economic Association, 2010
William D. Nordhaus (Ph.D., 1967) Member of the Council of Economic Advisers, 1977â€"1979; Distinguished Fellow of the American Economic Association, 2004; President of the American Economic Association, 2014
Avinash K. Dixit (Ph.D., 1968) President of the Econometric Society, 2001; President of the American Economic Association, 2008
Roberto Perotti (Ph.D., 1991) Full Professor at Bocconi University; Former Associate Professor with tenure at Columbia University, 1991â€"2001
Michael Rothschild, (Ph.D., 1968) Distinguished Fellow of the American Economic Association, 2005
Stanley Fischer (Ph.D., 1969) Governor of the Bank of Israel; Distinguished Fellow of the American Economic Association, 2013
Andrea Ichino (Ph.D., 1990) Full Professor at University of Bologna; Former Professor at European University Institute, 1997â€"2005
Robert C. Merton (Ph.D., 1970) President of the American Finance Association, 1986; Laureate of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, 1997
Tommaso Padoa-Schioppa (M.Sc., 1970) European Central Bank Executive Board, 1998â€"2005
Jeremy J. Siegel (Ph.D., 1971) financial markets guru
Martin Neil Baily (Ph.D., 1972) Chairman of the Council of Economic Advisers, 1999â€"2001
Robert J. Shiller (Ph.D., 1972) Fellow of the American Finance Association, 2006; Laureate of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, 2013
Paul R. Krugman (Ph.D., 1977) Member of the Council of Economic Advisers, 1982â€"1983; John Bates Clark Medalist, 1991; Laureate of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, 2008
Lucas Papademos (Ph.D., 1977) Vice President of the European Central Bank, 2002-
Ben S. Bernanke (Ph.D., 1979) Chairman of the Federal Reserve, 2006-2014
Kenneth S. Rogoff (Ph.D., 1980) IMF Chief Economist
Jean Tirole (Ph.D., 1981) President of the Econometric Society, 1998; President of the European Economic Association, 2001; Laureate of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, 2014
N. Gregory Mankiw (Ph.D., 1984) Chairman of the Council of Economic Advisers, 2003â€"2005
Andrei Shleifer (Ph.D., 1986) John Bates Clark Medalist, 1999
Matthew Rabin (Ph.D., 1989) John Bates Clark Medalist, 2001
Andrew Samwick (Ph.D., 1993) Member of the Council of Economic Advisers, 2003â€"2004
Steven D. Levitt (Ph.D., 1994) John Bates Clark Medalist, 2003; co-author of Freakonomics
Emmanuel Saez (Ph.D., 1999) John Bates Clark Medalist, 2009
Esther Duflo (Ph.D., 1999) John Bates Clark Medalist, 2010
Jonathan Levin (Ph.D., 1999) John Bates Clark Medalist, 2011
Amy Finkelstein (Ph.D., 2001) John Bates Clark Medalist, 2012
Alan S. Blinder (Ph.D., 1971) Distinguished Fellow of the American Economic Association, 2011
Robert J. Gordon (Ph.D., 1967) Distinguished Fellow of the American Economic Association, 2014
Ronald W. Jones (Ph.D., 1956) Distinguished Fellow of the American Economic Association, 2009

References

External links

MIT Department of Economics website

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