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. The American Economics Association estimates that MIT and these peers produce half of all tenure track professors at U.S. research universities. By 2020, the department has the second highest number of Ph.D. alumni who received the Nobel Prize in Economics in the world (12) only behind Harvard Economics (13) and ahead of UChicago Economics (9). Nine out of 18 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. 46: 81–108. doi:10.1215/00182702-2716127.
  5. Collier, Irwin (7 February 2018). "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. "McFadden developed Nobel winning theory at MIT".
  8. "Rudiger Dornbusch". The Economist. 8 August 2002.
  9. "Author(s) | the MIT Press".
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