An economist is a professional and practitioner in the
social science
Social science is one of the branches of science, devoted to the study of societies and the relationships among individuals within those societies. The term was formerly used to refer to the field of sociology, the original "science of soc ...
discipline of
economics
Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services.
Economics focuses on the behaviour and intera ...
.
The individual may also study, develop, and apply theories and concepts from economics and write about
economic policy
The economy of governments covers the systems for setting levels of taxation, government budgets, the money supply and interest rates as well as the labour market, national ownership, and many other areas of government interventions into the e ...
. Within this field there are many sub-fields, ranging from the broad
philosophical
Philosophy (from , ) is the systematized study of general and fundamental questions, such as those about existence, reason, knowledge, values, mind, and language. Such questions are often posed as problems to be studied or resolved. Some ...
theories
A theory is a rational type of abstract thinking about a phenomenon, or the results of such thinking. The process of contemplative and rational thinking is often associated with such processes as observational study or research. Theories may be s ...
to the focused study of minutiae within specific
market
Market is a term used to describe concepts such as:
*Market (economics), system in which parties engage in transactions according to supply and demand
*Market economy
*Marketplace, a physical marketplace or public market
Geography
*Märket, an ...
s,
macroeconomic
Macroeconomics (from the Greek prefix ''makro-'' meaning "large" + ''economics'') is a branch of economics dealing with performance, structure, behavior, and decision-making of an economy as a whole.
For example, using interest rates, taxes, and ...
analysis,
microeconomic
Microeconomics is a branch of mainstream economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms. Microeconomics fo ...
analysis or
financial statement analysis
Financial statement analysis (or just financial analysis) is the process of reviewing and analyzing a company's financial statements to make better economic decisions to earn income in future. These statements include the income statement, balanc ...
, involving analytical methods and tools such as
econometrics
Econometrics is the application of Statistics, statistical methods to economic data in order to give Empirical evidence, empirical content to economic relationships.M. Hashem Pesaran (1987). "Econometrics," ''The New Palgrave: A Dictionary of ...
,
statistics
Statistics (from German language, German: ''wikt:Statistik#German, Statistik'', "description of a State (polity), state, a country") is the discipline that concerns the collection, organization, analysis, interpretation, and presentation of ...
,
economics computational models,
financial economics
Financial economics, also known as finance, is the branch of economics characterized by a "concentration on monetary activities", in which "money of one type or another is likely to appear on ''both sides'' of a trade".William F. Sharpe"Financial ...
,
mathematical finance
Mathematical finance, also known as quantitative finance and financial mathematics, is a field of applied mathematics, concerned with mathematical modeling of financial markets.
In general, there exist two separate branches of finance that require ...
and
mathematical economics
Mathematical economics is the application of mathematical methods to represent theories and analyze problems in economics. Often, these applied methods are beyond simple geometry, and may include differential and integral calculus, difference an ...
.
Professions
![Mvc-017x](https://upload.wikimedia.org/wikipedia/commons/a/af/Mvc-017x.jpg)
Economists work in many fields including academia, government and in the private sector, where they may also "study data and statistics in order to spot trends in economic activity, economic confidence levels, and consumer attitudes. They assess this information using advanced methods in statistical analysis, mathematics, computer programming
ndthey make recommendations about ways to improve the efficiency of a system or take advantage of trends as they begin."
In addition to government and academia, economists are also employed in
bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets.
Because ...
ing,
finance
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of fina ...
,
accountancy
Accounting, also known as accountancy, is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations. Accounting, which has been called the "language ...
,
commerce
Commerce is the large-scale organized system of activities, functions, procedures and institutions directly and indirectly related to the exchange (buying and selling) of goods and services among two or more parties within local, regional, nation ...
,
marketing
Marketing is the process of exploring, creating, and delivering value to meet the needs of a target market in terms of goods and services; potentially including selection of a target audience; selection of certain attributes or themes to emph ...
,
business administration
Business administration, also known as business management, is the administration of a commercial enterprise. It includes all aspects of overseeing and supervising the business operations of an organization. From the point of view of management ...
,
lobbying
In politics, lobbying, persuasion or interest representation is the act of lawfully attempting to influence the actions, policies, or decisions of government officials, most often legislators or members of regulatory agency, regulatory agencie ...
and non- or not-for profit organizations.
In many organizations, an "Economic Analyst" is a formalized role. Professionals here are employed (or engaged as
consultants
A consultant (from la, consultare "to deliberate") is a professional (also known as ''expert'', ''specialist'', see variations of meaning below) who provides advice and other purposeful activities in an area of specialization.
Consulting servic ...
) to conduct research, prepare reports, or formulate plans and strategies to address economic problems. Here, as outlined, the analyst provides forecasts, analysis and advice, based upon observed trends and economic principles; this entails also collecting and processing economic and statistical data using econometric methods and statistical techniques.
*Economic analysts employed in industry typically advise corporations' and
financial institutions' reinvestment and capital budgeting decisions, and provide long term economic forecasts used within these organizations more generally.
*In the
public sector
The public sector, also called the state sector, is the part of the economy composed of both public services and public enterprises. Public sectors include the public goods and governmental services such as the military, law enforcement, infra ...
, analysts advise legislators and executives on economic policy, public works, and related;
politician
A politician is a person active in party politics, or a person holding or seeking an elected office in government. Politicians propose, support, reject and create laws that govern the land and by an extension of its people. Broadly speaking, a ...
s often consult economists before enacting economic
policy
Policy is a deliberate system of guidelines to guide decisions and achieve rational outcomes. A policy is a statement of intent and is implemented as a procedure or protocol. Policies are generally adopted by a governance body within an organ ...
; and many statesmen have academic degrees in economics.
*A Federal Government Economic Analyst conducts economic analysis of issues directly related to the function of their
federal government agency.
In contrast to regulated
profession
A profession is a field of work that has been successfully ''professionalized''. It can be defined as a disciplined group of individuals, '' professionals'', who adhere to ethical standards and who hold themselves out as, and are accepted by ...
s such as engineering, law or medicine, there is not a legally required educational requirement or license for economists. In academia, most economists have a
Ph.D. degree in Economics. In the U.S. Government, on the other hand, a person can be hired as an economist provided that they have a degree that included or was supplemented by 21 semester hours in economics and three hours in statistics, accounting, or calculus.
In fact, a professional working inside of one of many fields of economics or having
an academic degree in this subject is often considered to be an economist.
By country
Economics graduates are employable in varying degrees depending on the regional economic scenario and
labour market conditions at the time for a given country. Apart from the specific understanding of the subject, employers value the skills of
numeracy
Numeracy is the ability to understand, reason with, and to apply simple numerical concepts. The charity National Numeracy states: "Numeracy means understanding how mathematics is used in the real world and being able to apply it to make the bes ...
and analysis, the ability to
communicate
Communication (from la, communicare, meaning "to share" or "to be in relation with") is usually defined as the transmission of information. The term may also refer to the message communicated through such transmissions or the field of inquir ...
and the capacity to grasp broad issues which the graduates acquire at the
university
A university () is an institution of higher (or tertiary) education and research which awards academic degrees in several academic disciplines. Universities typically offer both undergraduate and postgraduate programs. In the United States, t ...
or
college
A college (Latin: ''collegium'') is an educational institution or a constituent part of one. A college may be a degree-awarding tertiary educational institution, a part of a collegiate or federal university, an institution offering ...
. Whilst only a few economics graduates may be expected to become professional economists, many find it a base for entry into a career in
finance
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of fina ...
– including accounting, insurance, tax and banking, or
management
Management (or managing) is the administration of an organization, whether it is a business, a nonprofit organization, or a government body. It is the art and science of managing resources of the business.
Management includes the activities o ...
;
see
financial analyst
A financial analyst is a professional, undertaking financial analysis for external or internal clients as a core feature of the job.
The role may specifically be titled securities analyst, research analyst, equity analyst, investment analyst, ...
.
A number of economics graduates from around the world have been successful in obtaining employment in a variety of major national and international firms in the financial and commercial sectors, and in manufacturing, retailing and IT, as well as in the public sector – for example, in the health and education sectors, or in
government
A government is the system or group of people governing an organized community, generally a state.
In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is a ...
and
politics
Politics (from , ) is the set of activities that are associated with making decisions in groups, or other forms of power relations among individuals, such as the distribution of resources or status. The branch of social science that studies ...
. Small numbers go on to undertake
postgraduate studies
Postgraduate or graduate education refers to academic or professional degrees, certificates, diplomas, or other qualifications pursued by post-secondary students who have earned an undergraduate ( bachelor's) degree.
The organization and stru ...
, either in economics, research, teacher training or further qualifications in specialist areas.
Brazil
In
Brazil
Brazil ( pt, Brasil; ), officially the Federative Republic of Brazil (Portuguese: ), is the largest country in both South America and Latin America. At and with over 217 million people, Brazil is the world's fifth-largest country by area ...
, unlike most countries in the world where the profession is not regulated, the profession of Economist is regulated by Law. 1411 of August 13, 1951. The professional designation of economist, according to the said law, is exclusive to the bachelors in economics graduates in Brazil.
United States
According to the
United States Department of Labor
The United States Department of Labor (DOL) is one of the executive departments of the U.S. federal government. It is responsible for the administration of federal laws governing occupational safety and health, wage and hour standards, unemploym ...
, there were about 15,000 non-academic economists in the United States in 2008, with a median salary of roughly $83,000, and the top ten percent earning more than $147,040 annually. Nearly 135 colleges and universities grant around 900 new
Ph.D.
A Doctor of Philosophy (PhD, Ph.D., or DPhil; Latin: or ') is the most common degree at the highest academic level awarded following a course of study. PhDs are awarded for programs across the whole breadth of academic fields. Because it is ...
s every year. Incomes are highest for those in the private sector, followed by the federal government, with academia paying the lowest incomes. As of January 2013,
PayScale.com
Payscale is an American compensation software and data company which helps employers manage employee compensation and employees understand their worth in the job market. The website was launched on January 1, 2002. It was founded by Joe Giordano a ...
showed Ph.D. economists' salary ranges as follows: all Ph.D. economists, $61,000 to $160,000; Ph.D. corporate economists, $71,000 to $207,000; economics full professors, $89,000 to $137,000; economics associate professors, $59,000 to $156,000, and economics assistant professors, $72,000 to $100,000.
United Kingdom
The largest single professional grouping of economists in the
UK are the more than 3500 members of the
Government Economic Service
The Government Economic Service (GES) is a professional grouping of public sector economists who work across some 40 departments and agencies of His Majesty's Government (HMG). The GES Board is chaired by the Head of the GES and consists of gover ...
.
Analysis of destination surveys for economics graduates from a number of selected top schools of economics in the
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and North ...
(ranging from
Newcastle University
Newcastle University (legally the University of Newcastle upon Tyne) is a UK public university, public research university based in Newcastle upon Tyne, North East England. It has overseas campuses in Singapore and Malaysia. The university is ...
to the
London School of Economics
, mottoeng = To understand the causes of things
, established =
, type = Public research university
, endowment = £240.8 million (2021)
, budget = £391.1 millio ...
), shows nearly 80 percent in employment six months after graduation – with a wide range of roles and employers, including regional, national and international organisations, across many sectors. This figure compares very favourably with the national picture, with 64 percent of economics graduates in employment.
Notable economists
Some current well-known economists include:
*
Adam Smith
Adam Smith (baptized 1723 – 17 July 1790) was a Scottish economist and philosopher who was a pioneer in the thinking of political economy and key figure during the Scottish Enlightenment. Seen by some as "The Father of Economics"——— ...
, Scottish economist and philosopher. Known as "The Father of Economics".
*
John Maynard Keynes
John Maynard Keynes, 1st Baron Keynes, ( ; 5 June 1883 – 21 April 1946), was an English economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. Originally trained in ...
, English economist well known for forming the basis of
Keynesian economics
Keynesian economics ( ; sometimes Keynesianism, named after British economist John Maynard Keynes) are the various macroeconomic theories and models of how aggregate demand (total spending in the economy) strongly influences economic output an ...
*
Joan Robinson
Joan Violet Robinson (''née'' Maurice; 31 October 1903 – 5 August 1983) was a British economist well known for her wide-ranging contributions to economic theory. She was a central figure in what became known as post-Keynesian economics.
B ...
, English Keynesian economist.
*
Karl Marx
Karl Heinrich Marx (; 5 May 1818 – 14 March 1883) was a German philosopher, economist, historian, sociologist, political theorist, journalist, critic of political economy, and socialist revolutionary. His best-known titles are the 1848 ...
, German philosopher and economist known for founding
Marxian Economics
Marxian economics, or the Marxian school of economics, is a Heterodox economics, heterodox school of political economic thought. Its foundations can be traced back to Karl Marx, Karl Marx's Critique of political economy#Marx's critique of politic ...
.
*
Rosa Luxemburg
Rosa Luxemburg (; ; pl, Róża Luksemburg or ; 5 March 1871 – 15 January 1919) was a Polish and naturalised-German revolutionary socialist, Marxist philosopher and anti-war activist. Successively, she was a member of the Proletariat party, ...
, German Communist revolutionary and the first economist woman to bring a theoretic contribution to the field of economics. She is the author of ''
The Accumulation of Capital
''The Accumulation of Capital'' (full title: ''The Accumulation of Capital: A Contribution to an Economic Explanation of Imperialism'', ''Die Akkumulation des Kapitals: Ein Beitrag zur ökonomischen Erklärung des Imperialismus'') is the princip ...
''.
*
Amartya Sen
Amartya Kumar Sen (; born 3 November 1933) is an Indian economist and philosopher, who since 1972 has taught and worked in the United Kingdom and the United States. Sen has made contributions to welfare economics, social choice theory, econom ...
(b. 1933),
Nobel Memorial Prize in Economic Sciences
The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel ( sv, Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an economics award administered ...
laureate and professor at Harvard University.
*
Kenneth Arrow
Kenneth Joseph Arrow (23 August 1921 – 21 February 2017) 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.
In economics ...
,
Nobel Memorial Prize in Economic Sciences
The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel ( sv, Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an economics award administered ...
laureate and professor at
Stanford University
Stanford University, officially Leland Stanford Junior University, is a private research university in Stanford, California. The campus occupies , among the largest in the United States, and enrolls over 17,000 students. Stanford is consider ...
.
*
Robert Aumann
Robert John Aumann (Hebrew name: , Yisrael Aumann; born June 8, 1930) is an Israeli-American mathematician, and a member of the United States National Academy of Sciences. He is a professor at the Center for the Study of Rationality in the Hebrew ...
(b. 1930), Israeli-American mathematician,
Nobel Memorial Prize in Economics
The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel ( sv, Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an economics award administered ...
in 2005.
*
B. R. Ambedkar
Bhimrao Ramji Ambedkar (14 April 1891 – 6 December 1956) was an Indian jurist, economist, social reformer and political leader who headed the committee drafting the Constitution of India from the Constituent Assembly debates, served a ...
, Indian scholar, jurist, economist, politician and social reformer. The
Reserve Bank of India
The Reserve Bank of India, chiefly known as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. It is under the ownership of Ministry of Finance, Government of India. It is responsible for ...
was conceptualized in accordance with the guidelines presented by Ambedkar to the
Hilton Young Commission (also known as Royal Commission on Indian Currency and Finance) based on his book, ''The Problem of the Rupee – Its Origin and Its Solution''.
*
Ben Bernanke
Ben Shalom Bernanke ( ; born December 13, 1953) is an American economist who served as the 14th chairman of the Federal Reserve from 2006 to 2014. After leaving the Fed, he was appointed a distinguished fellow at the Brookings Institution. Durin ...
,
Chairman of the Federal Reserve
The chair of the Board of Governors of the Federal Reserve System is the head of the Federal Reserve, and is the active executive officer of the Federal Reserve Board of Governors, Board of Governors of the Federal Reserve System. The chair shal ...
from 2006 to 2014.
*
Esther Duflo
Esther Duflo, FBA (; born 25 October 1972) is a French–American economist who is a professor of Poverty Alleviation and Development Economics at the Massachusetts Institute of Technology (MIT). She is the co-founder and co-director of the Ab ...
,
Nobel Memorial Prize in Economic Sciences
The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel ( sv, Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an economics award administered ...
laureate and professor at
Massachusetts Institute of Technology
The Massachusetts Institute of Technology (MIT) is a private land-grant research university in Cambridge, Massachusetts. Established in 1861, MIT has played a key role in the development of modern technology and science, and is one of the ...
.
*
Milton Friedman
Milton Friedman (; July 31, 1912 – November 16, 2006) was an American economist and statistician who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the ...
,
Nobel Memorial Prize in Economic Sciences
The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel ( sv, Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an economics award administered ...
laureate.
*
Claudia Goldin
Claudia Goldin (born May 14, 1946) is an American economic historian and labor economist who is currently the Henry Lee Professor of Economics at Harvard University. She is a co-director of the NBER's Gender in the Economy Study Group and was the ...
, professor at
Harvard University
Harvard University is a private Ivy League research university in Cambridge, Massachusetts. Founded in 1636 as Harvard College and named for its first benefactor, the Puritan clergyman John Harvard, it is the oldest institution of higher le ...
*
Alan Greenspan
Alan Greenspan (born March 6, 1926) is an American economist who served as the 13th chairman of the Federal Reserve from 1987 to 2006. He works as a private adviser and provides consulting for firms through his company, Greenspan Associates LLC. ...
, Chairman of the Federal Reserve from 1987 to 2006.
*
James Heckman
James Joseph Heckman (born April 19, 1944) is a Nobel 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 Pub ...
, 2000
Nobel Prize
The Nobel Prizes ( ; sv, Nobelpriset ; no, Nobelprisen ) are five separate prizes that, according to Alfred Nobel's will of 1895, are awarded to "those who, during the preceding year, have conferred the greatest benefit to humankind." Alfr ...
winner and Professor at
University of Chicago
The University of Chicago (UChicago, Chicago, U of C, or UChi) is a private research university in Chicago, Illinois. Its main campus is located in Chicago's Hyde Park neighborhood. The University of Chicago is consistently ranked among the b ...
; most cited economist as of 2018.
*
Glenn Hubbard Glenn Hubbard may refer to:
*Glenn Hubbard (baseball) (born 1957), American baseball player
*Glenn Hubbard (economist)
Robert Glenn Hubbard (born September 4, 1958) is an American economist and academic. He served as the Dean of the Columbia Univ ...
, Dean of the
Columbia University Graduate School of Business
Columbia Business School (CBS) is the business school of Columbia University, a private research university in New York City. Established in 1916, Columbia Business School is one of six Ivy League business schools and is one of the oldest busi ...
; Chair of the
Council of Economic Advisers
The Council of Economic Advisers (CEA) is a United States agency within the Executive Office of the President established in 1946, which advises the President of the United States on economic policy. The CEA provides much of the empirical resea ...
from 2001 to 2003.
*
Thomas M. Humphrey
Thomas MacGillivray Humphrey (born 1935) is an American economist. Until 2005 he was a research advisor and senior economist in the research department of the Federal Reserve Bank of Richmond and editor of the Bank's flagship publication, the ''E ...
, American economist and historian of economic thought.
*
Paul Krugman
Paul Robin Krugman ( ; born February 28, 1953) is an American economist, who is Distinguished Professor of Economics at the Graduate Center of the City University of New York, and a columnist for ''The New York Times''. In 2008, Krugman was th ...
, 2008
Nobel Memorial Prize in Economic Sciences
The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel ( sv, Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an economics award administered ...
laureate,
public intellectual
An intellectual is a person who engages in critical thinking, research, and reflection about the reality of society, and who proposes solutions for the normative problems of society. Coming from the world of culture, either as a creator or a ...
, and advocate of
modern liberal policies.
*
Greg Mankiw
Nicholas Gregory Mankiw (; born February 3, 1958) is an American macroeconomist who is currently the Robert M. Beren Professor of Economics at Harvard University. Mankiw is best known in academia for his work on New Keynesian economics.
Mankiw h ...
, American macroeconomist, academic economist, public intellectual, Chair of the Council of Economic Advisers from 2003 to 2005.
*
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 ...
, 2001
Nobel Memorial Prize in Economics
The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel ( sv, Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an economics award administered ...
winner, critic of
inequality
Inequality may refer to:
Economics
* Attention inequality, unequal distribution of attention across users, groups of people, issues in etc. in attention economy
* Economic inequality, difference in economic well-being between population groups
* ...
and the
governance
Governance is the process of interactions through the laws, social norm, norms, power (social and political), power or language of an organized society over a social system (family, tribe, formal organization, formal or informal organization, a ...
of
globalization
Globalization, or globalisation (Commonwealth English; see spelling differences), is the process of interaction and integration among people, companies, and governments worldwide. The term ''globalization'' first appeared in the early 20t ...
, and former
World Bank Chief Economist The Chief Economist of the World Bank (full title: Senior Vice President for Development Economics and Chief Economist of the World Bank Group) is the senior economist at the World Bank Group, tasked with providing intellectual leadership and direct ...
.
*
Dambisa Moyo
Dambisa Felicia Moyo, Baroness Moyo (born 2 February 1969)Moyo showed a copy of an official document with her date and place of birth as part of a lecture she gave at TEDGlobal 2013, Edinburgh, Scotland. is a Zambian-born economist and author, ...
, Zambian-born international economist and author who analyzes the macroeconomy and global affairs.
*
Thomas Sowell
Thomas Sowell (; born June 30, 1930) is an American author, economist, political commentator and academic who is a senior fellow at the Hoover Institution. With widely published commentary and books—and as a guest on TV and radio—he becam ...
, American economist and social theorist, Senior
Fellow
A fellow is a concept whose exact meaning depends on context.
In learned or professional societies, it refers to a privileged member who is specially elected in recognition of their work and achievements.
Within the context of higher education ...
at the
Hoover Institution
The Hoover Institution (officially The Hoover Institution on War, Revolution, and Peace; abbreviated as Hoover) is an American public policy think tank and research institution that promotes personal and economic liberty, free enterprise, and ...
.
*
Robert Lucas Jr
Robert Emerson Lucas Jr. (born September 15, 1937) is an American economist at the University of Chicago, where he is currently the John Dewey Distinguished Service Professor Emeritus in Economics and the College. Widely regarded as the central ...
., 1995
Nobel Prize in Economics
The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel ( sv, Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an economics award administered ...
winner.
*
Carmen Reinhart
Carmen M. Reinhart (née Castellanos, born October 7, 1955) is a Cuban-American economist and the Minos A. Zombanakis Professor of the International Financial System at Harvard Kennedy School. Previously, she was the Dennis Weatherstone Senior Fe ...
, member of
American Economic Association
The American Economic Association (AEA) is a learned society in the field of economics. It publishes several peer-reviewed journals acknowledged in business and academia. There are some 23,000 members.
History and Constitution
The AEA was esta ...
, 2018
King Juan Carlos Prize in Economics
King of Spain Prize in Economics is an award recognizing the scientific career of Spanish or Latin American personalities in the field of the economics. It was created in 1986 by the Foundation José Celma Prieto and it is awarded every two years. ...
winner.
*
William Forsyth Sharpe, 1990
Nobel Memorial Prize in Economic Sciences
The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel ( sv, Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an economics award administered ...
winner.
*
Christopher Antoniou Pissarides, 2010
Nobel Prize in Economics
The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel ( sv, Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an economics award administered ...
winner.
*
Arthur Laffer
Arthur Betz Laffer (; born August 14, 1940) is an American economist and author who first gained prominence during the Reagan administration as a member of Reagan's Economic Policy Advisory Board (1981–1989). Laffer is best known for the Laf ...
, 2019
Presidential Medal of Freedom
The Presidential Medal of Freedom is the highest civilian award of the United States, along with the Congressional Gold Medal. It is an award bestowed by the president of the United States to recognize people who have made "an especially merito ...
winner.
*
Jeffrey Sachs
Jeffrey David Sachs () (born 5 November 1954) is an American economist, academic, public policy analyst, and former director of The Earth Institute at Columbia University, where he holds the title of University Professor. He is known for his work ...
, Professor of Sustainable Development at Columbia's
School of International and Public Affairs
The School of International and Public Affairs at Columbia University (SIPA) is the international affairs and public policy school of Columbia University, a private Ivy League university located in Morningside Heights, Manhattan, New York City. It ...
, 2015
Blue Planet Prize
The recognises outstanding efforts in scientific research or applications of science that contribute to solving global environmental problems. The prize was created by the Asahi Glass Foundation in 1992, the year of the Rio Earth Summit, and ...
winner.
*
Vusal Gasimli
Vusal Afras ogly Gasimli ( az, Vüsal Əfras oğlu Qasımlı) is an Azerbaijani economist serving as the Executive director of the Center for Economic Reforms Analysis and Communication of the Republic of Azerbaijan (since 2016), was the Head o ...
, Azerbaijani economist and public intellectual, author of ''Geo-Economics''.
*
Ludwig von Mises
Ludwig Heinrich Edler von Mises (; 29 September 1881 – 10 October 1973) was an Austrian School economist, historian, logician, and Sociology, sociologist. Mises wrote and lectured extensively on the societal contributions of classical liberali ...
, Austrian economist and philosopher, author of ''
Human Action
''Human Action: A Treatise on Economics'' is a work by the Austrian economist and philosopher Ludwig von Mises. Widely considered Mises' ''magnum opus'', it presents the case for laissez-faire capitalism based on praxeology, his method to under ...
''.
*
Friedrich Hayek
Friedrich August von Hayek ( , ; 8 May 189923 March 1992), often referred to by his initials F. A. Hayek, was an Austrian–British economist, legal theorist and philosopher who is best known for his defense of classical liberalism. Haye ...
, Austrian economist,
Nobel Memorial Prize in Economic Sciences
The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel ( sv, Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is an economics award administered ...
laureate and author of ''
The Road to Serfdom
''The Road to Serfdom'' ( German: ''Der Weg zur Knechtschaft'') is a book written between 1940 and 1943 by Austrian-British economist and philosopher Friedrich Hayek. Since its publication in 1944, ''The Road to Serfdom'' has been popular among ...
''.
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David Ricardo
David Ricardo (18 April 1772 – 11 September 1823) was a British Political economy, political economist. He was one of the most influential of the Classical economics, classical economists along with Thomas Robert Malthus, Thomas Malthus, Ad ...
, developed the classical theory of
comparative advantage
In an economic model, agents have a comparative advantage over others in producing a particular good if they can produce that good at a lower relative opportunity cost or autarky price, i.e. at a lower relative marginal cost prior to trade. Comp ...
in 1817.
See also
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Chief economist Chief economist is a single-position job class having primary responsibility for the development, coordination, and production of economic and financial analysis. It is distinguished from the other economist positions by the broader scope of respons ...
*
List of economists
This is an incomplete alphabetical list by surname of notable economists, experts in the social science of economics, past and present. For a history of economics, see the article History of economic thought. Only economists with biographical artic ...
References
Citations
/h2>
Sources
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Mark Blaug
Mark Blaug FBA (; 3 April 1927 – 18 November 2011) was a Dutch-born British economist (naturalised in 1982), who covered a broad range of topics during his long career.
He was married to Ruth Towse.
Life and work
Blaug was born on 3 April ...
and Howard R. Vane (1983, 2003 4th ed.). . Table of Content
links.Cheltenham & Edward Elgar Pub.
*
Pressman, Steven, 2006. ''Fifty Major Economists.'' Routledge,
*
Robert Sobel, 1980. ''The Worldly Economists'' .
External links
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Economics occupations
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