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Media Relations

February 15, 2010

Top Economists at Arizona State University Recognized: Four Now Fellows in World-Renowned Econometric Society

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Debbie Freeman

Top Economists at Arizona State University Recognized
Four Now Fellows in World-Renowned Econometric Society

TEMPE, Ariz. — A Nobel Prize winner and three other top economists at the W. P. Carey School of Business at Arizona State University are being recognized as elected fellows of the prestigious international Econometric Society for their lifelong contributions to the field of economics. One of them was just elected to this organization full of representatives from the most elite universities in the world, including Harvard University, Princeton University and the University of Oxford.

Nobel Laureate Edward Prescott is the W. P. Carey Chair in Economics, a Guggenheim Fellow, a fellow of the American Academy of Arts and Sciences, and a senior advisor to the Federal Reserve Bank of Minneapolis. He has been a fellow of the Econometric Society for about 30 years and values its importance.

“The Econometric Society was formed to make economics a quantitative science; that is a hard science,” Prescott explains. “The society has been successful in this regard.”

W. P. Carey School of Business Professor Michael Keane has also been a fellow of the society for several years and was just chosen as a council member of the group. He is an Arizona State University Research Fellow, who recently received a major international award for his work on how insurance markets work. The Ken Arrow Award is named for a Nobel Laureate, who is also a fellow of the Econometric Society.

Professor Richard Rogerson, whose research is currently supported by a grant from the National Science Foundation, and Professor Lin Zhou, who has a Ph.D. from Princeton University, are also Econometric Society fellows from the W. P. Carey School of Business. This is Zhou’s first year in the organization.

While tens of thousands of economists work around the world, less than 650 are elected as fellows of the Econometric Society. Only 21 new fellows were chosen to join for the current year, including Zhou and representatives from Stanford University, Yale University, Massachusetts Institute of Technology and top international schools. W. P. Carey School of Business Dean Robert Mittelstaedt says having four fellows in this eminent group is further evidence the school is increasingly becoming a destination where top economists choose to work and thrive.

“Because of the current global situation, economic research and understanding have never been more important,” says Mittelstaedt. “The W. P. Carey School of Business has been named Top 25 for business school research productivity, and our full-time MBA program is ranked Top 30 in the nation. We have succeeded in creating an environment that supports faculty in conducting world-class research, and the Econometric Society selections certainly reinforce that.”

The W. P. Carey School of Business at Arizona State University is one of the top-ranked and largest business schools in the United States. The school is internationally regarded for its research productivity and its distinguished faculty members, including a Nobel Prize winner. Students come from 75 countries and include more than 60 National Merit Scholars. For more information please visit and