David Michael Garrood Newbery,

CBE The Most Excellent Order of the British Empire is a British order of chivalry, rewarding contributions to the arts and sciences, work with charitable and welfare organisations, and public service outside the civil service. It was established o ...

, FBA (born 1 June 1943), is a Professor of Applied Economics at the

University of Cambridge , mottoeng = Literal: From here, light and sacred draughts. Non literal: From this place, we gain enlightenment and precious knowledge. , established = , other_name = The Chancellor, Masters and Schola ...

. He got this position in 1988.Faculty page at University of Cambridge
/ref> He specializes in the field of

energy economics Energy economics is a broad scientific subject area which includes topics related to supply and use of energy in societies. Considering the cost of energy services and associated value gives economic meaning to the efficiency at which energy c ...

, and he writes on the regulation of electricity markets. His interests also include

climate change mitigation Climate change mitigation is action to limit climate change by reducing Greenhouse gas emissions, emissions of greenhouse gases or Carbon sink, removing those gases from the atmosphere. The recent rise in global average temperature is mostly caus ...

and environmental policy,

privatisation Privatization (also privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when ...

, and risk.

Early life

Newbery was born on 1 June 1943 at Fulmer Chase,

Fulmer Fulmer is a village and civil parish in south Buckinghamshire, England. The village has along most of its northern border a narrow green buffer from Gerrards Cross and is heavily wooded adjoining neighbouring villages of Iver Heath and Wexham. ...

Buckinghamshire Buckinghamshire (), abbreviated Bucks, is a ceremonial county in South East England that borders Greater London to the south-east, Berkshire to the south, Oxfordshire to the west, Northamptonshire to the north, Bedfordshire to the north-ea ...

England England is a country that is part of the United Kingdom. It shares land borders with Wales to its west and Scotland to its north. The Irish Sea lies northwest and the Celtic Sea to the southwest. It is separated from continental Europe b ...

. He studied at

Portsmouth Grammar School The Portsmouth Grammar School is a co-educational independent day school in Portsmouth, England, located in the historic part of Portsmouth. It was founded in 1732 as a boys' school and is located on Portsmouth High Street. History In 1732, ...

from 1954 till 1961, where he won Best Science Candidate in Cambridge GCE A&S Level. He then proceeded to study Mathematics and Economics at

Trinity College, Cambridge Trinity College is a constituent college of the University of Cambridge. Founded in 1546 by Henry VIII, King Henry VIII, Trinity is one of the largest Cambridge colleges, with the largest financial endowment of any college at either Cambridge ...

, obtaining a B.A. in 1964, M.A. (Cantab.) in 1968 and a Ph.D. degree in 1976., title= David Michael Garrood Newbery
/ref>

Career

In 1965 he was pre-elected to Churchill Teaching Fellowship. In 1966 he got a position of University Assistant Lecturer at Faculty of Economics. Later he was a Director of Department of Applied Economics from 1988 till 2003. He also served as a Professor II at Tromso University, Norway from 2011 till 2013. In 1981 Newbery co-authored a book and several articles with Nobel-laureate

Joseph Stiglitz Joseph Eugene Stiglitz (; born February 9, 1943) is an American New Keynesian economist, a public policy analyst, and a full professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the Joh ...

. The name of the book was ''"The Theory of Commodity Price Stabilization: A Study in the Economics of Risk"'' Besides his role as Professor of Applied Economics at Cambridge, he serves as Vice-Chairman of Cambridge Economic Policy Associates, Director of the Cambridge Electricity Policy Research Group and an occasional consultant to the

World Bank The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Interna ...

. In 1988–2003 he was Director of the Department of

Applied economics Applied economics is the study as regards the application of economic theory and econometrics in specific settings. As one of the two sets of fields of economics (the other set being the ''core''), it is typically characterized by the application ...

. He was a member of the

Competition Commission The Competition Commission was a non-departmental public body responsible for investigating mergers, markets and other enquiries related to regulated industries under competition law in the United Kingdom. It was a competition regulator under t ...

in 1996–2002, and chairman of the Dutch electricity market surveillance committee. He was elected a Fellow of the

British Academy The British Academy is the United Kingdom's national academy for the humanities and the social sciences. It was established in 1902 and received its royal charter in the same year. It is now a fellowship of more than 1,000 leading scholars span ...

in 1991. He is a member of the Academic Panel of

DEFRA DEFRA may refer to: * Deficit Reduction Act of 1984, United States law * Department for Environment, Food and Rural Affairs, United Kingdom government department {{Disambiguation ...

. Since 1966 he has been a fellow of

Churchill College Churchill College is a constituent college of the University of Cambridge, England. It has a primary focus on science, engineering and technology, but still retains a strong interest in the arts and humanities. In 1958, a trust was establish ...

, and was President of its Senior Combination Room (SCR) in from 2010 to 2019.Churchill College SCR
/ref>

Honours

*Newbery was appointed

Commander of the Order of the British Empire The Most Excellent Order of the British Empire is a British order of chivalry, rewarding contributions to the arts and sciences, work with charitable and welfare organisations, and public service outside the civil service. It was established o ...

(CBE) in the 2012 Birthday Honours for services to economics. * He was awarded an Honorary Doctorate by the

Paris Dauphine University Paris Dauphine University - PSL (french: Université Paris-Dauphine, also known as Paris Dauphine - PSL or Dauphine - PSL) is a public research university based in Paris, France. It is one of the 13 universities formed by the division of the ancie ...

in 2022 * He was elected Fellow of Econometric Society in 1989. * He was awarded Frisch Medal of the Econometric Society in 1990. * He was awarded Harry Johnson Prize by Canadian Economics Association in 1993. * He received the IAEE 2002 Outstanding Contributions to the Profession of Energy Economics Award. * He was awarded an Honorary Degree at the University of Antwerp in 2004. * He was president of International Association of Energy Economics in 2013.

Selected bibliography

Books

* * * * * *

Journal articles

* * * * * Newbery, D.M. and J.E. Stiglitz (1982) ‘The Choice of Techniques and the Optimality of Market Equilibrium with Rational Expectations’, Journal of Political Economy, 90(2), April, 223-46. doi: https://www.jstor.org/stable/1830291?seq=2#references_tab_contents. JSTOR 1830291.

References

{{DEFAULTSORT:Newbery, David 1943 births 21st-century British economists 20th-century British economists Alumni of Trinity College, Cambridge Academics of the University of Cambridge Commanders of the Order of the British Empire Fellows of the British Academy Fellows of Churchill College, Cambridge Fellows of the Econometric Society Living people