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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. The department's Ph.D. program was introduced in 1941.
Although it shares facilities (and numerous faculty members) with the MIT Sloan School of Management, the department is actually part of MIT's School of Humanities, Arts and Social Sciences.
Nobel Laureates
Among the department's past and current faculty and alumni are several recipients of the Nobel Prize in Economics:
- Eric Maskin, 2007
- Robert F. Engle, 2003
- George Akerlof and Joseph E. Stiglitz, 2001
- Daniel McFadden, 2000
- Robert Mundell, 1999
- Robert C. Merton, 1997
- Robert Solow, 1987
- Franco Modigliani, 1985
- Lawrence Klein, 1980
- Paul Samuelson, 1970
Current Faculty
Professors
- Daron Acemoglu
- Joshua Angrist
- Abhijit Banerjee
- Olivier Blanchard
- Ricardo J. Caballero
- Dora L. Costa
- Peter A. Diamond
- Esther Duflo
- Glenn Ellison
- Robert S. Gibbons
- Michael Greenstone
- Jonathan Gruber
- Jeffrey Harris
- Jerry A. Hausman
- Bengt R. Holmström
- Paul Joskow
- Whitney K. Newey
- Michael J. Piore
- James M. Poterba
- Nancy Rose
- Stephen Ross
- Richard L. Schmalensee
- James M. Snyder
- Peter Temin
- Lester Thurow
- William Wheaton
Associate Professors
- George-Marios Angeletos
- David Autor
- Victor Chernozhukov
- Amy Finkelstein
- Iván Werning
- Muhamet Yildiz
Assistant Professors
- Mikhail Golosov
- Panle Jia
- Sergei Izmalkov
- Guido Lorenzoni
- Anna Mikusheva
- Stephen Ryan
Senior Lecturer
- Sara Fisher Ellison
Professors Emeriti
- Morris Adelman
- Sidney Alexander
- Robert L. Bishop
- Richard S. Eckaus
- Franklin M. Fisher
- Stanley Fischer
- Jerome Rothenberg
- Paul Samuelson
- Abraham J. Seigel
- Robert Solow
Affiliated Faculty
- Mathias Dewatripont
- Ernst Fehr
- Jean Tirole
Former Faculty
- E. Cary Brown (Ph.D., Harvard) Professor of Economics, Emeritus
- Evsey Domar (Ph.D., Harvard)
- Rudi Dornbusch (Ph.D., Chicago) Ford International Professor, International Economics
- Robert F. Engle (Ph.D., Cornell)
- Charles P. Kindleberger (Ph.D., Columbia) Ford International Professor of Economics, Emeritus
- Edwin Kuh
- Paul Krugman (Ph.D., MIT) John Bates Clark Medal, 1991
- Eric Maskin (Ph.D., Harvard)
- Daniel McFadden
- Franco Modigliani (D.Jur., Rome and D.Soc.Sci., New School of Research) Institute Professor Emeritus; Professor of Finance & Economics
- George P. Shultz (Ph.D., MIT)
- Hal Varian (Ph.D., Berkeley)
Notable Alumni
- Lawrence Klein (Ph.D., 1944) John Bates Clark Medal, 1959; President of the Econometric Society, 1960; President of the American Economic Association, 1977; Nobel Prize in Economics, 1980
- George P. Shultz (Ph.D., 1949) Distinguished Fellow of the American Economic Association, 2004
- Robert Mundell (Ph.D., 1956) Distinguished Fellow of the American Economic Association, 1996; Nobel Prize in Economics, 1999
- Peter A. Diamond (Ph.D., 1963) President of the Econometric Society, 1991; President of the American Economic Association, 2003
- George Akerlof (Ph.D., 1966) Nobel Prize in Economics, 2001; President of the American Economic Association, 2006
- Joseph E. Stiglitz (Ph.D., 1966) John Bates Clark Medal, 1979; Nobel Prize in Economics, 2001
- Jagdish Bhagwati (Ph.D., 1967) Distinguished Fellow of the American Economic Association, 2003
- William Nordhaus (Ph.D., 1967) Member of the Council of Economic Advisers, 1977-1979; Distinguished Fellow of the American Economic Association, 2004
- Avinash Dixit, (Ph.D., 1968) President of the Econometric Society, 2001; President of the American Economic Association, 2008
- Michael Rothschild, (Ph.D., 1968) Distinguished Fellow of the American Economic Association, 2005
- Stanley Fischer, (Ph.D., 1969) Governor of the Bank of Israel
- Robert C. Merton (Ph.D., 1970) President of the American Finance Association, 1986; Nobel Prize in Economics, 1997
- Tommaso Padoa-Schioppa (Ph.D., 1970) European Central Bank Executive Board, 1998-2005
- Martin Neil Baily (Ph.D., 1972) Chairman of the Council of Economic Advisers, 1999-2001
- Robert Shiller (Ph.D., 1972) Fellow of the American Finance Association, 2006
- Paul Krugman (Ph.D., 1977) Member of the Council of Economic Advisers, 1982-1983; John Bates Clark Medal, 1991
- Lucas Papademos (Ph.D., 1977) Vice President of the European Central Bank, 2002-
- Ben Bernanke (Ph.D., 1979) Chairman of the Federal Reserve, 2006-
- Kenneth Rogoff (Ph.D., 1980) IMF Chief Economist
- Jean Tirole (Ph.D., 1981) President of the Econometric Society, 1998; President of the European Economic Association, 2001
- N. Gregory Mankiw (Ph.D., 1984) Chairman of the Council of Economic Advisers, 2003-2005
- Andrei Shleifer (Ph.D., 1986) John Bates Clark Medal, 1999
- Matthew Rabin (Ph.D., 1989) John Bates Clark Medal, 2001
- Andrew Samwick (Ph.D., 1993) Member of the Council of Economic Advisers, 2003-2004
- Steven Levitt (Ph.D., 1994) John Bates Clark Medal, 2003; co-author of Freakonomics
- Kristin Forbes (Ph.D., 1998) Member of the Council of Economic Advisers, 2003-2005
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