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The Faculty of Economics at the
University of Cambridge The University of Cambridge is a Public university, public collegiate university, collegiate research university in Cambridge, England. Founded in 1209, the University of Cambridge is the List of oldest universities in continuous operation, wo ...
is composed of five research groups:
macroeconomics Macroeconomics is a branch of economics that deals with the performance, structure, behavior, and decision-making of an economy as a whole. This includes regional, national, and global economies. Macroeconomists study topics such as output (econ ...
,
microeconomic theory Microeconomics is a branch of economics that studies the behavior of individuals and Theory of the firm, firms in making decisions regarding the allocation of scarcity, scarce resources and the interactions among these individuals and firms. M ...
,
economic history Economic history is the study of history using methodological tools from economics or with a special attention to economic phenomena. Research is conducted using a combination of historical methods, statistical methods and the Applied economics ...
,
econometrics Econometrics is an application of statistical methods to economic data in order to give empirical content to economic relationships. M. Hashem Pesaran (1987). "Econometrics", '' The New Palgrave: A Dictionary of Economics'', v. 2, p. 8 p. 8 ...
and empirical microeconomics. It is located in the
Sidgwick Site The Sidgwick Site is one of the largest sites within the University of Cambridge, England. Overview and history The Sidgwick Site is located on the western side of Cambridge city centre, near the Backs. The site is north of Sidgwick Avenue an ...
in
Cambridge Cambridge ( ) is a List of cities in the United Kingdom, city and non-metropolitan district in the county of Cambridgeshire, England. It is the county town of Cambridgeshire and is located on the River Cam, north of London. As of the 2021 Unit ...
.


History

The Faculty of Economics at Cambridge has roots going back to the 1890s. Though frequently marked in the past by fervent internal academic debate, over theory, ontological approach and methodological orientation, the cumulative contribution of Cambridge economics to the development and evolution of the discipline nationally and internationally has been profound and unique.  It has repeatedly attracted international recognition and distinction by spawning some of the leading economics thinkers and paradigm changers of the times, including, for example,
Alfred Marshall Alfred Marshall (26 July 1842 – 13 July 1924) was an English economist and one of the most influential economists of his time. His book ''Principles of Economics (Marshall), Principles of Economics'' (1890) was the dominant economic textboo ...
(one of the founders of Neoclassical economics),
John Maynard Keynes John Maynard Keynes, 1st Baron Keynes ( ; 5 June 1883 – 21 April 1946), was an English economist and philosopher whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. Originall ...
(his general theory of employment, interest and money),
Joan Robinson Joan Violet Robinson ( Maurice; 31 October 1903 – 5 August 1983) was a British economist known for her wide-ranging contributions to economic theory. One of the most prominent economists of the century, Robinson incarnated the "Cambridge Sc ...
(capital theory), Richard Kahn (multiplier theory),
James Meade James Edward Meade FBA (23 June 1907 – 22 December 1995) was a British economist who made major contributions to the theory of international trade and welfare economics. Along with Richard Kahn, James Meade helped develop the concept of ...
(international economics),
Nicholas Kaldor Nicholas Kaldor, Baron Kaldor (12 May 1908 – 30 September 1986), born Káldor Miklós, was a Hungarian-born British economist. He developed the "compensation" criteria called Kaldor–Hicks efficiency for welfare spending, welfare comparisons ...
(increasing returns and economic growth),
James Mirrlees Sir James Alexander Mirrlees (5 July 1936 – 29 August 2018) was a British economist and winner of the 1996 Nobel Memorial Prize in Economic Sciences. He was knighted in the 1997 Birthday Honours. Early life and education Born in Minniga ...
(taxation), and
Partha Dasgupta Sir Partha Sarathi Dasgupta (born 17 November 1942) is an Indian-British economist who is Frank Ramsey Professor Emeritus of Economics at the University of Cambridge, United Kingdom, and a fellow of St John's College, Cambridge. Personal life H ...
(poverty and environmental economics). During the 1970s, the ‘Cambridge School of Post-Keynesian Economics’ was a frequently used term to describe the distinctiveness of the research undertaken in the Faculty. The Faculty can boast several Nobel Prize winners over the past century. Many of its undergraduates have gone on to hold senior and prestigious academic posts elsewhere, both in the UK and overseas (including Harvard, Princeton and Stanford in the United States), and in some cases have themselves been Nobel Prize winners. The Faculty has major teaching programmes at both undergraduate and postgraduate level and has one of largest group of research-active economists of any British university. It has around 80 resident or visiting academic staff and about 100 research students. Facilities includ
the Marshall Library
in the Austin Robinson Economics building and th
University Library
nearby.


Courses

Economics at Cambridge is ranked at number 1 in UK by the ''Complete University Guide'', ranked 3rd by ''the Guardian'' and the ''University Times'' and ranked at number 5 in the world according to the ''Times Higher Education''. The Faculty offers one undergraduate an
six postgraduate programmes of studies
The postgraduate courses include: an advanced diploma in economics,
master of philosophy A Master of Philosophy (MPhil or PhM; Latin ' or ') is a postgraduate degree. The name of the degree is most often abbreviated MPhil (or, at times, as PhM in other countries). MPhil are awarded to postgraduate students after completing at leas ...
degrees (MPhil) in economics, economic research, economics & data science, finance and economics, and a PhD in economics.


Current faculty

* Giancarlo Corsetti ( Clare) * Sir Partha Dasgupta ( St. John's) * Sanjeev Goyal ( Christ's) * Tony Lawson ( Emmanuel) * Oliver Linton (
Trinity The Trinity (, from 'threefold') is the Christian doctrine concerning the nature of God, which defines one God existing in three, , consubstantial divine persons: God the Father, God the Son (Jesus Christ) and God the Holy Spirit, thr ...
) * Murray Milgate (
Trinity The Trinity (, from 'threefold') is the Christian doctrine concerning the nature of God, which defines one God existing in three, , consubstantial divine persons: God the Father, God the Son (Jesus Christ) and God the Holy Spirit, thr ...
/ Queens') * David Newbery (
Trinity The Trinity (, from 'threefold') is the Christian doctrine concerning the nature of God, which defines one God existing in three, , consubstantial divine persons: God the Father, God the Son (Jesus Christ) and God the Holy Spirit, thr ...
) * M. Hashem Pesaran (
Trinity The Trinity (, from 'threefold') is the Christian doctrine concerning the nature of God, which defines one God existing in three, , consubstantial divine persons: God the Father, God the Son (Jesus Christ) and God the Holy Spirit, thr ...
) *
Robert Rowthorn Robert Rowthorn FAcSS FLSW (born 20 August 1939) is Emeritus Professor of Economics at the University of Cambridge and has been elected as a Life Fellow of King’s College. He is also a senior research fellow of the Centre for Population Resea ...
( King's)


Alumni and former faculty

* R. G. D. Allen (Sidney Sussex) *
Kenneth Arrow Kenneth Joseph Arrow (August 23, 1921 – February 21, 2017) was an American economist, mathematician and political theorist. He received the John Bates Clark Medal in 1957, and the Nobel Memorial Prize in Economic Sciences in 1972, along with ...
( Churchill) * Andrew Bailey ( Queens') * Rowland Baring, 3rd Earl of Cromer (
Trinity The Trinity (, from 'threefold') is the Christian doctrine concerning the nature of God, which defines one God existing in three, , consubstantial divine persons: God the Father, God the Son (Jesus Christ) and God the Holy Spirit, thr ...
) * Peter Thomas Bauer ( Caius) * Charlie Bean ( Emmanuel) * David Bensusan-Butt ( King's) * Christopher Bliss ( King's) * D. G. Champernowne ( King's/
Trinity The Trinity (, from 'threefold') is the Christian doctrine concerning the nature of God, which defines one God existing in three, , consubstantial divine persons: God the Father, God the Son (Jesus Christ) and God the Holy Spirit, thr ...
) *
Ha-Joon Chang Ha-Joon Chang (; ; born 7 October 1963) is a South Korean economist and academic. Chang specialises in institutional economics and development, and lectured in economics at the University of Cambridge from 1990–2021 before becoming pro ...
(
Robinson Robinson may refer to: People and names * Robinson (name) Fictional characters * Robinson Crusoe, the main character, and title of a novel by Daniel Defoe, published in 1719 Geography * Robinson projection, a map projection used since the 19 ...
) * Robert Chote ( Queens') * Cameron Cobbold, 1st Baron Cobbold ( King's) * John James Cowperthwaite ( Christ's) * Walter Cunliffe, 1st Baron Cunliffe (
Trinity The Trinity (, from 'threefold') is the Christian doctrine concerning the nature of God, which defines one God existing in three, , consubstantial divine persons: God the Father, God the Son (Jesus Christ) and God the Holy Spirit, thr ...
) *
Angus Deaton Sir Angus Stewart Deaton (born 19 October 1945) is a British-American economist and academic. Deaton is currently a Senior Scholar and the Dwight D. Eisenhower Professor of Economics and International Affairs Emeritus at the Princeton School ...
( Fitzwilliam),
Nobel Prize The Nobel Prizes ( ; ; ) are awards administered by the Nobel Foundation and granted in accordance with the principle of "for the greatest benefit to humankind". The prizes were first awarded in 1901, marking the fifth anniversary of Alfred N ...
winner *
Gérard Debreu Gérard Debreu (; 4 July 1921 – 31 December 2004) was a French-born economist and mathematician. Best known as a professor of economics at the University of California, Berkeley, where he began work in 1962, he won the 1983 Nobel Memorial Prize ...
( Churchill),
Nobel Prize The Nobel Prizes ( ; ; ) are awards administered by the Nobel Foundation and granted in accordance with the principle of "for the greatest benefit to humankind". The prizes were first awarded in 1901, marking the fifth anniversary of Alfred N ...
winner * Peter Diamond ( Churchill),
Nobel Prize The Nobel Prizes ( ; ; ) are awards administered by the Nobel Foundation and granted in accordance with the principle of "for the greatest benefit to humankind". The prizes were first awarded in 1901, marking the fifth anniversary of Alfred N ...
winner *
Maurice Dobb Maurice Herbert Dobb (24 July 1900 – 17 August 1976) was an English economist at Cambridge University and a Fellow of Trinity College, Cambridge. He is remembered as one of the pre-eminent Marxist economists of the 20th century. Dobb was high ...
( Pembroke/
Trinity The Trinity (, from 'threefold') is the Christian doctrine concerning the nature of God, which defines one God existing in three, , consubstantial divine persons: God the Father, God the Son (Jesus Christ) and God the Holy Spirit, thr ...
) * John Eatwell, Baron Eatwell ( Queens') *
Robert Fogel Robert William Fogel (; July 1, 1926 – June 11, 2013) was an American economic historian and winner (with Douglass North) of the 1993 Nobel Memorial Prize in Economic Sciences. As of his death, he was the Charles R. Walgreen Distinguished Se ...
(
Trinity The Trinity (, from 'threefold') is the Christian doctrine concerning the nature of God, which defines one God existing in three, , consubstantial divine persons: God the Father, God the Son (Jesus Christ) and God the Holy Spirit, thr ...
),
Nobel Prize The Nobel Prizes ( ; ; ) are awards administered by the Nobel Foundation and granted in accordance with the principle of "for the greatest benefit to humankind". The prizes were first awarded in 1901, marking the fifth anniversary of Alfred N ...
winner *
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 ...
( Caius),
Nobel Prize The Nobel Prizes ( ; ; ) are awards administered by the Nobel Foundation and granted in accordance with the principle of "for the greatest benefit to humankind". The prizes were first awarded in 1901, marking the fifth anniversary of Alfred N ...
winner *
John Kenneth Galbraith John Kenneth Galbraith (October 15, 1908 – April 29, 2006), also known as Ken Galbraith, was a Canadian-American economist, diplomat, public official, and intellectual. His books on economic topics were bestsellers from the 1950s through the ...
(
Trinity The Trinity (, from 'threefold') is the Christian doctrine concerning the nature of God, which defines one God existing in three, , consubstantial divine persons: God the Father, God the Son (Jesus Christ) and God the Holy Spirit, thr ...
) *
Pierangelo Garegnani Pierangelo Garegnani (9 August 1930 – 14 October 2011) was an Italian economist and professor of the University of Rome III. He was the director of the Fondazione Centro Piero Sraffa di Studi e Documenti at the Federico Caffè School of Econ ...
(
Trinity The Trinity (, from 'threefold') is the Christian doctrine concerning the nature of God, which defines one God existing in three, , consubstantial divine persons: God the Father, God the Son (Jesus Christ) and God the Holy Spirit, thr ...
) * Sir Edward George ( Emmanuel) *
Anthony Giddens Anthony Giddens, Baron Giddens (born 18 January 1938) is an English sociologist who is known for his theory of structuration and his holistic view of modern societies. He is considered to be one of the most prominent modern sociologists and is ...
( King's) * Claude Guillebaud ( St. John's) * Sir Gilbert Heathcote, 1st Baronet ( Christ's) * Oliver Hart ( King's/ Churchill),
Nobel Prize The Nobel Prizes ( ; ; ) are awards administered by the Nobel Foundation and granted in accordance with the principle of "for the greatest benefit to humankind". The prizes were first awarded in 1901, marking the fifth anniversary of Alfred N ...
winner * Noreena Hertz ( King's) *
John Hicks Sir John Richard Hicks (8 April 1904 – 20 May 1989) was a British economist. He is considered one of the most important and influential economists of the twentieth century. The most familiar of his many contributions in the field of economics ...
( Caius),
Nobel Prize The Nobel Prizes ( ; ; ) are awards administered by the Nobel Foundation and granted in accordance with the principle of "for the greatest benefit to humankind". The prizes were first awarded in 1901, marking the fifth anniversary of Alfred N ...
winner * John C. Hull * Richard Kahn ( King's) *
John Maynard Keynes John Maynard Keynes, 1st Baron Keynes ( ; 5 June 1883 – 21 April 1946), was an English economist and philosopher whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. Originall ...
( King's) * Mervyn King ( King's/ St. John's) * Patrick Lynch (
Peterhouse Peterhouse is the oldest Colleges of the University of Cambridge, constituent college of the University of Cambridge in England, founded in 1284 by Hugh de Balsham, Bishop of Ely. Peterhouse has around 300 undergraduate and 175 graduate stud ...
) *
Thomas Malthus Thomas Robert Malthus (; 13/14 February 1766 – 29 December 1834) was an English economist, cleric, and scholar influential in the fields of political economy and demography. In his 1798 book ''An Essay on the Principle of Population'', Mal ...
(
Jesus Jesus (AD 30 or 33), also referred to as Jesus Christ, Jesus of Nazareth, and many Names and titles of Jesus in the New Testament, other names and titles, was a 1st-century Jewish preacher and religious leader. He is the Jesus in Chris ...
) *
Alfred Marshall Alfred Marshall (26 July 1842 – 13 July 1924) was an English economist and one of the most influential economists of his time. His book ''Principles of Economics (Marshall), Principles of Economics'' (1890) was the dominant economic textboo ...
( St. John's) *
Eric Maskin Eric Stark Maskin (born December 12, 1950) is an American economist and mathematician. He was jointly awarded the 2007 Nobel Memorial Prize in Economic Sciences with Leonid Hurwicz and Roger Myerson "for having laid the foundations of mechanism d ...
( Darwin) *
James Meade James Edward Meade FBA (23 June 1907 – 22 December 1995) was a British economist who made major contributions to the theory of international trade and welfare economics. Along with Richard Kahn, James Meade helped develop the concept of ...
(
Trinity The Trinity (, from 'threefold') is the Christian doctrine concerning the nature of God, which defines one God existing in three, , consubstantial divine persons: God the Father, God the Son (Jesus Christ) and God the Holy Spirit, thr ...
),
Nobel Prize The Nobel Prizes ( ; ; ) are awards administered by the Nobel Foundation and granted in accordance with the principle of "for the greatest benefit to humankind". The prizes were first awarded in 1901, marking the fifth anniversary of Alfred N ...
winner *
James Mirrlees Sir James Alexander Mirrlees (5 July 1936 – 29 August 2018) was a British economist and winner of the 1996 Nobel Memorial Prize in Economic Sciences. He was knighted in the 1997 Birthday Honours. Early life and education Born in Minniga ...
(
Trinity The Trinity (, from 'threefold') is the Christian doctrine concerning the nature of God, which defines one God existing in three, , consubstantial divine persons: God the Father, God the Son (Jesus Christ) and God the Holy Spirit, thr ...
),
Nobel Prize The Nobel Prizes ( ; ; ) are awards administered by the Nobel Foundation and granted in accordance with the principle of "for the greatest benefit to humankind". The prizes were first awarded in 1901, marking the fifth anniversary of Alfred N ...
winner * Robert Neild (
Trinity The Trinity (, from 'threefold') is the Christian doctrine concerning the nature of God, which defines one God existing in three, , consubstantial divine persons: God the Father, God the Son (Jesus Christ) and God the Holy Spirit, thr ...
) *
William Nordhaus William Dawbney Nordhaus (born May 31, 1941) is an American economist. He was a Sterling Professor of Economics at Yale University, best known for his work in economic modeling and climate change, and a co-recipient of the 2018 Nobel Memorial ...
( Clare Hall),
Nobel Prize The Nobel Prizes ( ; ; ) are awards administered by the Nobel Foundation and granted in accordance with the principle of "for the greatest benefit to humankind". The prizes were first awarded in 1901, marking the fifth anniversary of Alfred N ...
winner *
Montagu Norman, 1st Baron Norman Montagu Collet Norman, 1st Baron Norman DSO PC (6 September 1871 – 4 February 1950) was an English banker, best known for his role as the Governor of the Bank of England from 1920 to 1944. Norman led the bank during the toughest period in m ...
( King's) *
Douglass North Douglass Cecil North (November 5, 1920 – November 23, 2015) was an American economist known for his work in economic history. Along with Robert Fogel, he received the Nobel Memorial Prize in Economic Sciences in 1993. In the words of the Nobel ...
( Girton),
Nobel Prize The Nobel Prizes ( ; ; ) are awards administered by the Nobel Foundation and granted in accordance with the principle of "for the greatest benefit to humankind". The prizes were first awarded in 1901, marking the fifth anniversary of Alfred N ...
winner *
Sheilagh Ogilvie Sheilagh Catheren Ogilvie FBA (born 7 October 1958) is a Canadian historian, economist, and academic, specialising in economic history. Since 2020, she has been Chichele Professor of Economic History at the University of Oxford and a Fellow of A ...
(
Trinity The Trinity (, from 'threefold') is the Christian doctrine concerning the nature of God, which defines one God existing in three, , consubstantial divine persons: God the Father, God the Son (Jesus Christ) and God the Holy Spirit, thr ...
) *
Luigi Pasinetti Luigi L. Pasinetti (12 September 1930 – 31 January 2023) was an Italian economist of the post-Keynesian school. Pasinetti was considered the heir of the " Cambridge Keynesians" and a student of Piero Sraffa and Richard Kahn. Along with them, ...
( King's) *
Arthur Cecil Pigou Arthur Cecil Pigou (; 18 November 1877 – 7 March 1959) was an English economist. As a teacher and builder of the School of Economics at the University of Cambridge, he trained and influenced many Cambridge economists who went on to take chair ...
( King's) *
Rogelio Ramírez de la O Rogelio Ramírez de la O is an economist based in Mexico City. He was designated as finance secretary of Mexico, replacing Arturo Herrera Gutiérrez, a position he held from 2021 to 2025. Early life and education Ramírez de la O received a bac ...
( Fitzwilliam) *
Frank P. Ramsey Frank Plumpton Ramsey (; 22 February 1903 – 19 January 1930) was a British people, British philosopher, mathematician, and economist who made major contributions to all three fields before his death at the age of 26. He was a close friend of ...
( Magdalene/
Trinity The Trinity (, from 'threefold') is the Christian doctrine concerning the nature of God, which defines one God existing in three, , consubstantial divine persons: God the Father, God the Son (Jesus Christ) and God the Holy Spirit, thr ...
/ King's) * Gordon Richardson ( Caius) * Dennis Robertson (
Trinity The Trinity (, from 'threefold') is the Christian doctrine concerning the nature of God, which defines one God existing in three, , consubstantial divine persons: God the Father, God the Son (Jesus Christ) and God the Holy Spirit, thr ...
) *
Austin Robinson Sir Edward Austin Gossage Robinson, (20 November 1897 – 1 June 1993, Cambridge, England) was a University of Cambridge economist. He was an undergraduate at Christ's College, Cambridge, and a fellow of Sidney Sussex College, Cambridge. A clos ...
(Sidney Sussex) *
Joan Robinson Joan Violet Robinson ( Maurice; 31 October 1903 – 5 August 1983) was a British economist known for her wide-ranging contributions to economic theory. One of the most prominent economists of the century, Robinson incarnated the "Cambridge Sc ...
( Girton/ Newnham/ King's) *
Amartya Sen Amartya Kumar Sen (; born 3 November 1933) is an Indian economist and philosopher. Sen has taught and worked in England and the United States since 1972. In 1998, Sen received the Nobel Memorial Prize in Economic Sciences for his contributions ...
(
Trinity The Trinity (, from 'threefold') is the Christian doctrine concerning the nature of God, which defines one God existing in three, , consubstantial divine persons: God the Father, God the Son (Jesus Christ) and God the Holy Spirit, thr ...
),
Nobel Prize The Nobel Prizes ( ; ; ) are awards administered by the Nobel Foundation and granted in accordance with the principle of "for the greatest benefit to humankind". The prizes were first awarded in 1901, marking the fifth anniversary of Alfred N ...
winner and former
Master Master, master's or masters may refer to: Ranks or titles In education: *Master (college), head of a college *Master's degree, a postgraduate or sometimes undergraduate degree in the specified discipline *Schoolmaster or master, presiding office ...
of
Trinity The Trinity (, from 'threefold') is the Christian doctrine concerning the nature of God, which defines one God existing in three, , consubstantial divine persons: God the Father, God the Son (Jesus Christ) and God the Holy Spirit, thr ...
* Gerald Shove ( King's) * Ajit Singh ( Queens') *
Piero Sraffa Piero Sraffa Fellow of the British Academy, FBA (5 August 1898 – 3 September 1983) was an influential Italian Political economy, political economist who served as lecturer of economics at the University of Cambridge. His book ''Production of Co ...
(
Trinity The Trinity (, from 'threefold') is the Christian doctrine concerning the nature of God, which defines one God existing in three, , consubstantial divine persons: God the Father, God the Son (Jesus Christ) and God the Holy Spirit, thr ...
) *
Joseph Stiglitz Joseph Eugene Stiglitz (; born February 9, 1943) is an American New Keynesian economist, a public policy analyst, political activist, and a professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2 ...
( Caius/ Fitzwilliam),
Nobel Prize The Nobel Prizes ( ; ; ) are awards administered by the Nobel Foundation and granted in accordance with the principle of "for the greatest benefit to humankind". The prizes were first awarded in 1901, marking the fifth anniversary of Alfred N ...
winner *
Richard Stone Sir John Richard Nicholas Stone (30 August 1913 – 6 December 1991) was an eminent British economist. He was educated at Gonville and Caius College and King's College at the University of Cambridge. In 1984, he was awarded the Nobel Memori ...
( Caius/ King's),
Nobel Prize The Nobel Prizes ( ; ; ) are awards administered by the Nobel Foundation and granted in accordance with the principle of "for the greatest benefit to humankind". The prizes were first awarded in 1901, marking the fifth anniversary of Alfred N ...
winner *
Adam Tooze John Adam Tooze (born 5 July 1967) is an English historian who is a professor at Columbia University, Director of the European Institute and nonresident scholar at Carnegie Europe. Previously, he was Reader in Twentieth-Century History at the Un ...
( King's) * Geoff Whitty ( St. John's) * Yuen Pau Woo * Stefanie Stantcheva


See also

* Marshall Library of Economics *
Listed buildings in Cambridge (west) There are 833 listed buildings (as of December 2023) in the non-metropolitan district, district of Cambridge, England. This list summarises the 87 in the west and north-west suburbs, in the area west of the Backs and broadly between Huntingdon Road ...


References

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Cam Cam or CAM may refer to: Science and technology * Cam (mechanism), a mechanical linkage which translates motion * Camshaft, a shaft with a cam * Camera or webcam, a device that records images or video In computing * Computer-aided manufacturin ...
Economics, Faculty of