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The Heller-Hurwicz Economics Institute was launched in 2010 in order to promote socioeconomic research.
The Heller-Hurwicz Economics Institute was launched in 2010 to establish an intellectual powerhouse of the world’s top faculty and graduate students who are focused on creating effective tools of economic theory that will lead to policies and institutions that address major socioeconomic problems. Since its founding, Heller-Hurwicz has hosted numerous seminars, panels and roundtables with some of the brightest minds in economic innovation. Topics have included the economics of climate change, social insurance, monetary policy, psychology of economics, globalization, U.S. manufacturing and occupational regulation. The Heller-Hurwicz Economics Institute is translating frontier economic research into real world policy solutions. [1]
The Heller-Hurwicz Economics Institute is a global initiative in the College of Liberal Arts at the University of Minnesota created to inform and influence public policy by supporting and promoting frontier economic research and by communicating our findings to leading academics, policymakers, and business executives around the world.
The mission and intention of the institution is guided by legacies of Walter Heller and Leo Hurwicz. Both Heller and Hurwicz served as professors of economics at the University of Minnesota for the early 1950s through the 1980s, during which time they revolutionized the university’s economics department to be one of the world’s finest schools of economic thought. Heller, who served as one of the most influential economic policymakers under Presidents Kennedy and Johnson, was an innovator of taxation and social policy, two areas that guide the work of the Heller - Hurwicz Economics Institute. Hurwicz, on the other hand, fathered the economic theory of mechanism design, which helps organizations and businesses determine optimal outcomes given an individual’s motivations, honesty and social welfare. It is Leo Hurwicz’s contributions to economic science that not only influence thinking at the Heller - Hurwicz Economics Institute, but how political and economic dilemmas are solved today.
V.V. Chari, 2010–2016
Ellen McGrattan, 2016-2022
Kjetil Storesletten, 2022-present
James Joseph Heckman is a Nobel Memorial in Economic Sciences Prize-winning American economist at the University of Chicago, where he is The Henry Schultz Distinguished Service Professor in Economics and the College; 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 Professor of Law at the Law School, a senior research fellow at the American Bar Foundation, and a research associate at the National Bureau of Economic Research.
Kenneth Joseph Arrow was an American economist, mathematician, writer, and political theorist. He was the joint winner of the Nobel Memorial Prize in Economic Sciences with John Hicks in 1972.
Franco Modigliani was an Italian-American economist and the recipient of the 1985 Nobel Memorial Prize in Economics. He was a professor at University of Illinois at Urbana–Champaign, Carnegie Mellon University, and MIT Sloan School of Management.
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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 James Alexander Mirrlees was a British economist and winner of the 1996 Nobel Memorial Prize in Economic Sciences. He was knighted in the 1997 Birthday Honours.
A macroeconomic model is an analytical tool designed to describe the operation of the problems of economy of a country or a region. These models are usually designed to examine the comparative statics and dynamics of aggregate quantities such as the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the level of prices.
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.
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Walter Wolfgang Heller was a leading American economist of the 1960s, and an influential adviser to President John F. Kennedy as chairman of the Council of Economic Advisers, 1961–64.
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Varadarajan Venkata Chari is an Indian-American economist and professor of economics, currently teaches macroeconomic theory, public economics, and monetary economics at the University of Minnesota's College of Liberal Arts.
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Leonid Hurwicz was a Polish-American economist and mathematician, known for his work in game theory and mechanism design. He originated the concept of incentive compatibility, and showed how desired outcomes can be achieved by using incentive compatible mechanism design. Hurwicz shared the 2007 Nobel Memorial Prize in Economic Sciences for his seminal work on mechanism design. Hurwicz was one of the oldest Nobel Laureates, having received the prize at the age of 90.
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.
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. 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 following outline is provided as an overview of and topical guide to economics:
The Gary Becker Milton Friedman Institute for Research in Economics is a collaborative, cross-disciplinary center for research in economics. The institute was established at the University of Chicago in June 2011. It brought together the activities of two formerly independent economic research centers at the university: the Milton Friedman Institute for Research in Economics and the Becker Center on Chicago Price Theory, founded by Richard O. Ryan.
Ufuk Akcigit is a Turkish economist. He is the Arnold C. Harberger Professor of Economics at the University of Chicago, the Kenneth C. Griffin Department of Economics since 2019. The same year, he also received the Max Planck-Humboldt Research Award for his achievements in the field of macroeconomics. In 2021, he was named John Simon Guggenheim Fellow and Econometric Society fellow for his work in Economics. In 2022, he received the prestigious Global Economy Prize in Economics from the Kiel Institute in Germany and the Sakıp Sabancı International Research Award.
