Monday, October 10, 2011

Professor Sargent wins the 2011 Nobel Prize in Economics!

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FAS Professor of Economics, Thomas Sargent, has been awarded the 2011 Nobel Prize in Economics, along with Princeton University’s Christopher Sims. Sargent is widely renowned for influencing and revolutionizing the economic strategies of successful capitalist economies over the past two decades. Specifically, he is recognized for coordinating monetary and fiscal policy, stabilizing inflation and fighting unemployment.

According to the Nobel Committee, Sargent has “shown how structural macroeconomics can be used to analyze permanent changes in economic policy. This method can be applied to study macroeconomic relationships when households and firms adjust their expectations concurrently with economic developments. Sargent has examined, for instance, the post-World War II era, when many countries initially tended to implement a high-inflation policy, but eventually introduced systematic changes in economic policy and reverted to a lower inflation rate.”

At NYU, Sargent plays a major role in developing the macroeconomics graduate program, and he teaches at both the graduate and undergraduate levels. We are proud to declare that Sargent is the 24th Nobel Prize winner from the NYU faculty and alumni community!

Follow the link below for more information from NYU’s Press Release announcing the news!

NYU's Sargent Wins 2011 Nobel Prize in Economics

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