Kenneth J. Arrow ruled the world of economics during the twentieth century. He is one of the most distinguished economists of that period who had made significant contributions in the field of economics. He is considered to be one of the primary architects of the Theory of Neo-Walrasian General Equilibrium. He is the receiver of the Nobel Prize in 1972 along with John Hicks and happens to be the youngest person to receive the award. [br]
James M. Buchanan is a political economist and the Advisory General Director of America. He has and still continues to make significant contributions to the field of economics. He is mostly known for his ‘Public Choice Theory’ in economics, for which he received the Nobel Prize in 1986. Professor Buchanan’s seminal work opened new vistas for analyzing the effect of politician’s non-economic forces on government economic policy.
James A. Mirrlees, is a Scottish economist, who was rewarded Nobel Prize for Economics in 1996 for his fundamental contributions to the economic theory of incentives under asymmetric information.
Personal, career and Academic profiles [br]
James J Heckman also known as James Joseph “Jim” Heckman was born on the 19th day of April, 1944. He received the Nobel Memorial Prize along with his co winner Daniel Mc Fadden in the year 2000. The Nobel Memorial Prize was conferred up on him for his contribution in the field of microeconomics and econometrics. [br]
His academic qualifications:
John F. Nash is a renowned mathematician, who was awarded the Nobel Prize in Economics in 1994 for his innovative work on analysis of equilibria in the theory of non-cooperative games.
Personal, career and Academic profiles
The American economist and the 1981 Economics Nobel Laureate, James Tobin (1918 – 2002) is known for promoting and elaborating the concepts of Keynesian economics. According to James Tobin, government interference is necessary in the economic activities of a nation, in order to increase and maintain the production levels and abstain from economic depressions as far as possible.
John R. Hicks was one of the most significant and influential economists of 20th century. He was educated at the Oxford University but his real education began when he was appointed to the London School of Economics in the late 1920s. There he pursued economics and studied the economic systems of various countries of Europe. Thus he steeped himself in the Walrasian, Austrian and Swedish tradition. His studies consolidated the Marginalist Revolution that began over fifty years.
Professor Joseph E. Stiglitz is an eminent American economist whose contribution to economics has not only enriched the subject but has also helped improve the economy of various countries. His remarkable achievement in the field of globalization speaks volumes about the man’s dedication, intelligence and conviction towards his subject.
Jan Tinbergen, the noted economist was born in The Hague in Netherlands. He was the joint winner of the Nobel Prize in 1969 with Ragnar Frischer for propounding various economic models in the analysis of economic process. This prominent economist was also a founding trustee of Economists for Peace and Security. [br]
Life and Academic Background
Harry M. Markowitz is one of the most distinguished economists of the twentieth century and has contributed a lot to economics. He is one of the Nobel Laureates of the year 1990 who propounded theories for assessing the risk involved in the stock markets and the returns on corporate bonds and stocks. This theory is known as the Modern Portfolio Theory. The Nobel winning economist is presently employed at the Rady School of Management at the university of California. [br]
