MIT Department of 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. The American Economics Association estimates that MIT and these peers produce half of all tenure track professors at U.S. research universities. By 2018, the department has the highest number of Ph.D. alumni who received the Nobel Prize in Economics in the world (11), followed by Harvard Economics (10) and UChicago Economics (8). Seven out of 15 Clark medalists since 1999 received Ph.D. degrees from the department.

History

In the 1890s, economists including Francis Amasa Walker and Davis Rich Dewey taught courses in economics to the undergraduate students.[1] It was known as the Department of Economics and Social Sciences. In 1937, the department established a graduate program, while in 1941, it established a Ph.D. program.[2] In the 1950s and the 1960s, the department expanded its graduate program.[3] In these years, the program became more quantitatively oriented and emphasized technical training.[4] Approximately 25 students enrolled each year.[5] In the 1970s, the first Black American graduate students joined the program as part of a desegregation program.[6]

Prominent faculty

Nobel Laureates

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

Current Faculty

Professors

Associate Professors

Assistant Professors
  • Nikhil Agarwal
  • Isiah Andrews
  • David Atkin
  • Frank Schilbach

Senior Lecturer
  • Sara Fisher Ellison

Professors Emeriti

Affiliated Faculty

Former Faculty

Notable alumni

References
  1. "Economics in MIT's fourth school". Soundings.
  2. "About the Program". MIT Economics.
  3. Cherrier, Beatrice (2013). "A Preliminary History of Economics at MIT, 1940-1972". History of Political Economy.
  4. Duarte, Pedro Garcia (2014). "The Early Years of the MIT PhD Program in Industrial Economics". History of Political Economy.
  5. Collier, Irwin. "M.I.T. GRADUATE ECONOMICS PROGRAM BROCHURE, 1961".
  6. Darity, William; Kreeger, Arden (2013). "The Desegregation of an Elite Economics Department's PhD Program: Black Americans at MIT". History of Political Economy.
  7. http://news.mit.edu/2000/nobel-1018
  8. http://www.economist.com/node/1270474
  9. https://mitpress.mit.edu/authors/francesco-giavazzi
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