University of Minnesota to confer an honorary degree on Thomas Sargent
Public lecture and degree conferral on Monday, Feb. 4
Media Note: Media is invited to attend and film the public lecture and degree conferral, however, Sargent will not be available for interviews before or after the event.
January 30, 2013
The University of Minnesota will confer an honorary degree on Nobel Prize-winning economist and longtime U of M faculty member Thomas Sargent on Monday, February 4 at 3 p.m. at Cowles Auditorium, Humphrey School of Public Affairs, 301 19th Avenue S., Minneapolis.
Sargent, currently a professor at New York University, will present a lecture on the topic of monetary unions at 3 p.m., followed by the honorary degree ceremony and a dessert reception.
The event is free and open to the public; please register to attend at http://hhei.umn.edu/rsvp.
Together with Christopher Sims, another former U of M economics professor, Sargent received the 2011 Nobel Prize in Economic Sciences. The duo’s "empirical research on cause and effect in the macroeconomy," cited by the Nobel committee, and development of the rational expectations model was largely done while they were faculty members in the U’s Department of Economics. Rational expectations found that since consumers and investors adjust their behaviors whenever the government shifts policies, these policies rarely have their intended effect.
"Tom’s service to our department of economics impacted not only his students, but the University as a whole," said College of Liberal Arts Dean James Parente. "His work is so closely tied to our mission of advancing learning and the search for truth, sharing this knowledge through education for a diverse community, and applying this knowledge to benefit the people of the state, the nation, and the world."
In addition, Sargent is a current member of the University’s Heller-Hurwicz Economics Institute (HHEI) board - an institute that was named in part after the late Leo Hurwicz, who was also a co-winner of the Nobel Prize in economics in 2007.