James Joseph Heckman is an American economist and Nobel laureate who serves as the Henry Schultz Distinguished Service Professor in Economics at the University of Chicago, where he is also a professor at the College, a professor at the Harris School of Public Policy, Director of the Center for the Economics of Human Development (CEHD), and Co-Director of Human Capital and Economic Opportunity (HCEO) Global Working Group. He is also a professor of law at the Law School, a senior research fellow at the American Bar Foundation, and a research associate at the NBER. He received the John Bates Clark Medal in 1983, and the Nobel Memorial Prize in Economic Sciences in 2000, which he shared with Daniel McFadden. He is known principally for his pioneering work in econometrics and microeconomics.
Daniel Little McFadden is an American 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 is the Presidential Professor of Health Economics at the University of Southern California and Professor of the Graduate School at University of California, Berkeley.
Lawrence Robert Klein was an American economist. For his work in creating computer models to forecast economic trends in the field of econometrics in the Department of Economics at the University of Pennsylvania, he was awarded the Nobel Memorial Prize in Economic Sciences in 1980 specifically "for the creation of econometric models and their application to the analysis of economic fluctuations and economic policies." Due to his efforts, such models have become widespread among economists. Harvard University professor Martin Feldstein told the Wall Street Journal that Klein "was the first to create the statistical models that embodied Keynesian economics," tools still used by the Federal Reserve Bank and other central banks.
Andrew Michael Spence is a Canadian-American economist and Nobel laureate.
The Chicago school of economics is a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago, some of whom have constructed and popularized its principles. Milton Friedman and George Stigler are considered the leading scholars of the Chicago school.
Sir Clive William John Granger was a British econometrician known for his contributions to nonlinear time series analysis. He taught in Britain, at the University of Nottingham and in the United States, at the University of California, San Diego. Granger was awarded the Nobel Memorial Prize in Economic Sciences in 2003 in recognition of the contributions that he and his co-winner, Robert F. Engle, had made to the analysis of time series data. This work fundamentally changed the way in which economists analyse financial and macroeconomic data.
Edward Christian Prescott was an American economist. He received the Nobel Memorial Prize in Economics in 2004, sharing the award with Finn E. Kydland, "for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles". This research was primarily conducted while both Kydland and Prescott were affiliated with the Graduate School of Industrial Administration at Carnegie Mellon University. According to the IDEAS/RePEc rankings, he was the 19th most widely cited economist in the world in 2013. In August 2014, Prescott was appointed an Adjunct Distinguished Economic Professor at the Australian National University (ANU) in Canberra, Australia. Prescott died of cancer on November 6, 2022, at the age of 81.
Dale Thomas Mortensen was an American economist, a professor at Northwestern University, and a winner of the Nobel Memorial Prize in Economic Sciences.
Lars Peter Hansen is an American economist. He is the David Rockefeller Distinguished Service Professor in Economics, Statistics, and the Booth School of Business, at the University of Chicago and a 2013 recipient of the Nobel Memorial Prize in Economics.
The MIT Department of Economics is a department of the Massachusetts Institute of Technology in Cambridge, Massachusetts.
Bengt Robert Holmström is a Finnish economist who is currently Paul A. Samuelson Professor of Economics (Emeritus) at the Massachusetts Institute of Technology. Together with Oliver Hart, he received the Central Bank of Sweden Nobel Memorial Prize in Economic Sciences in 2016.
Eric Stark Maskin is an American economist and mathematician. He was jointly awarded the 2007 Nobel Memorial Prize in Economic Sciences with Leonid Hurwicz and Roger Myerson "for having laid the foundations of mechanism design theory". He is the Adams University Professor and Professor of Economics and Mathematics at Harvard University.
Robert Butler "Bob" Wilson, Jr. is an American economist who is the Adams Distinguished Professor of Management, Emeritus at Stanford University. He was jointly awarded the 2020 Nobel Memorial Prize in Economic Sciences, together with his Stanford colleague and former student Paul R. Milgrom, "for improvements to auction theory and inventions of new auction formats". Two more of his students, Alvin E. Roth and Bengt Holmström, are also Nobel Laureates in their own right.
Roger Bruce Myerson is an American economist and professor at the University of Chicago. He holds the title of the David L. Pearson Distinguished Service Professor of Global Conflict Studies at The Pearson Institute for the Study and Resolution of Global Conflicts in the Harris School of Public Policy, the Griffin Department of Economics, and the College of the University of Chicago. Previously, he held the title The Glen A. Lloyd Distinguished Service Professor of Economics. In 2007, he was the winner of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel with Leonid Hurwicz and Eric Maskin for "having laid the foundations of mechanism design theory". He was elected a Member of the American Philosophical Society in 2019.
The Barcelona School of Economics (BSE) is an internationally renowned institute for research and graduate education in economics, finance, data science, and the social sciences located in Barcelona, Spain.
Douglas Warren Diamond is an American economist. He is currently the Merton H. Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business, where he has taught since 1979. Diamond specializes in the study of financial intermediaries, financial crises, and liquidity. He is a former president of the American Finance Association (2003) and the Western Finance Association (2001-02).
Guido Wilhelmus Imbens is a Dutch-American economist whose research concerns econometrics and statistics. He holds the Applied Econometrics Professorship in Economics at the Stanford Graduate School of Business at Stanford University, where he has taught since 2012.
The 2021 Nobel Memorial Prize in Economic Sciences was divided one half awarded to the American-Canadian David Card "for his empirical contributions to labour economics", the other half jointly to Israeli-American Joshua Angrist and Dutch-American Guido W. Imbens "for their methodological contributions to the analysis of causal relationships." The Nobel Committee stated their reason behind the decision, saying:
"This year's Laureates – David Card, Joshua Angrist and Guido Imbens – have shown that natural experiments can be used to answer central questions for society, such as how minimum wages and immigration affect the labour market. They have also clarified exactly which conclusions about cause and effect can be drawn using this research approach. Together, they have revolutionised empirical research in the economic sciences."
The 2022 Nobel Memorial Prize in Economic Sciences was divided equally between the American economists Ben S. Bernanke, Douglas W. Diamond, and Philip H. Dybvig "for research on banks and financial crises" on 10 October 2022. The award was established in 1968 by an endowment "in perpetuity" from Sweden's central bank, Sveriges Riksbank, to commemorate the bank's 300th anniversary. Laureates in the Memorial Prize in Economics are selected by the Royal Swedish Academy of Sciences. The Nobel Committee announced the reason behind their recognition, stating:
"This year's laureates in the Economic Sciences, Ben Bernanke, Douglas Diamond and Philip Dybvig, have significantly improved our understanding of the role of banks in the economy, particularly during financial crises. An important finding in their research is why avoiding bank collapses is vital."
