Date Title Description

We extend our congratulations to Zenan Wu who was awarded the Penn Prize for Excellence in Graduate Student Teaching this year.

Last year he was a TA for Economics 1 and his research interest is applied micro theory.

Christina Economy, a junior who is a double-major in Economics and International Relations, has been awarded a Harry S. Truman Scholarship.

The Truman Scholarship is a merit-based award for college students who plan to pursue careers in government or public service.  She is one of 62 Truman Scholars this year.

For details, see Penn News.


Rebecca SteinBeginning on April 8, Senior Lecturer Rebecca Stein will be teaching "Principles of Microeconomics" online through Coursera.

For full details, see the Penn News article.

Rebecca Stein is pictured at right.

Ronald O. PerelmanThe extraordinarily generous gift will provide a new home for both the Department of Economics and Political Science.  The Ronald O. Perelman Center for Political Science and Economics will be located in the West Philadelphia Trust Building at 36th and Walnut streets.

Ronald O. Perelman, pictured right, is an alumnus of Penn, a member of Penn's Board of Trustees, and a frequent donor to the University.

For full details, see Penn News.

On the Precipice is an online audio presentation from OMNIA that features Presidential Term Professor Enrique Mendoza examining the fiscal cliff and its future significance.

OMNIA is an online magazine highlighting research and scholarship in the School of Arts and Sciences at Penn.

Economics Nobel Laureate Thomas Sargent will be presenting "Continental Drift: The Forces Underlying the Euro Crisis" at Penn's Social Science & Policy Forum on January 28, 2013 at 4:30 pm in College Hall 200 (Class of 1954 Lecture Hall).

The Department of Economics is a sponsor of the event.

A graduate dissertation fellowship has been established in the memory of Robert Summers, a distinguished member of the faculty for over 30 years, to be awarded annually to the most deserving student in the Economics Department working on a Ph.D. dissertation in the fields of empirical macroeconomics or international economics.

For more information about Professor Summers, see In Memoriam.

Professor Antonio Merlo has been elected a Fellow of the Econometric Society.

The Econometric Society is an international society for the advancement of economic theory in its relation to statistics and mathematics. Among its activities, the Society is responsible for the publication of the journals EconometricaQuantitative Economics, and Theoretical Economics, the publication of a research Monograph series, and the organization of scientific meetings in six regions of the world.

Four second-year graduate students were honored for their first-year work during this year's New Student Reception on September 26, 2012.

Chunzan Wu won the Lawrence Robbins Prize, awarded to the student judged to be the best in the first year class.

Juan Hernandez received the Certificate of Distinction for the Best Performance in Microeconomics in the first year. Kristin Shaw received the Certificate of Distinction for the Best Performance in Macroeconomics in the first year. Yu (Laura) Liu received the Certificate of Distinction for the Best Performance in Econometrics in the first year.

The reception was hosted by the Graduate Economics Society.

Held to honor Department Chair Ken Wolpin's 65th birthday, the two-day conference "Structural Estimation of Behavioral Models: A Conference in Honor of Kenneth I. Wolpin" brought together forty-four former students and close colleagues from outside Penn who presented their research. An audience of about 100, including many faculty members and current graduate students, were on hand.

Research papers related to the conference will be considered for publication in the IER.

The conference was sponsored by the Penn Institute for Economic Research, the Population Studies Center, the John Deutsch Institute and the McCabe Empirical Micro Workshop.

Breaking the Bank is an online audio presentation from OMNIA that features Professors Dirk Krueger and Jesus Fernandez-Villaverde discussing the state of the European economy.

OMNIA is an online publication highlighting research and scholarship in the School of Arts and Sciences at Penn.

Jere R. Behrman, W.R. Kenan Jr. Professor of Economics and Sociology and Research Associate of the Population Studies Center, has been awarded a Doctor Honoris Causa by the University of Chile at a special ceremony at the University of Chile in Santiago, Chile.

At the ceremony he also gave an invited lecture on “From Macro Econometric Analysis to Early Childhood Development” pertaining to his four decades of research on the Chilean economy.

He has also been awarded a Bill and Linda Gates Foundation Grant for a two-year multi-country multi-institutional interdisciplinary study on “Early child growth and development in four countries: Young Lives.”

The study is investigating the determinants of and the impacts of child growth recovery and child growth faltering after one year of age on child schooling success and cognitive and non-cognitive skill attainment in Ethiopia, India, Peru and Vietnam.

In addition, Professor Behrman has been appointed to the National Research Council (NRC) National Academies of Science (NAS) Committee on Population (CPOP) for three years.

CPOP conducts scientific assessments of major population-related issues and provides a forum for the discussion and analysis of important public policy issues related to population. 

We extend our congratulations to Suryun Rhee who was awarded the Penn Prize for Excellence in Graduate Student Teaching this year. 

Last year she was a TA for Economics 10 and Economics 242, and her research interests lie in quantitative macroeconomics, labor economics and industrial organization.

Economics Day is our annual celebration to recognize outstanding teaching and research achievements by undergraduate and graduate students and exemplary teaching by economics faculty.

(Note: Professors Xu Cheng and Hanming Fang, who each won the Irving B. Kravis Prize for Distinction in Undergraduate Teaching, were unable to attend the ceremony.)

The Federal Reserve has announced the creation of the Model Validation Council to provide "expert and independent advice on its processes to rigorously assess the models used in stress tests of banking institutions."

The council will be led by Professor Francis X. Diebold.

For more information, read the press release from the Federal Reserve.

Retired Economics Professor Robert Summers, who taught here at the University of Pennsylvania from 1960 to 1991, passed away on April 17.

In 1998 he was named an American Economics Association Distinguished Fellow for his path-breaking work on the measurement of consistent economic aggregates and prices across nations and over time. This project, produced in collaboration with fellow economists and faculty members Alan Heston and the late Irving Kravis, developed real product comparisons and estimated purchasing-power parities for an expanding number of countries. 

For more information, see In Memoriam.

One of the nation's most prestigious honor societies, the American Academy of Arts and Sciences, has announced the election of 220 new members to its ranks. Economics Professor George Mailath is one of them.

For details, see Five Penn Professors Elected to the American Academy of Arts and Sciences.

See also this list of the new members organized by discipline.


An audio interview with Professor Jere Behrman is featured in SAS Frontiers, an online monthly magazine about the research and creative accomplishments of faculty and students in the School of Arts and Sciences here at the University of Pennsylvania.

To listen to the interview, go to Social Q's in SAS Frontiers.

The Economics Department is pleased to now offer a Mathematical Economics Major and an Economic Policy Minor. 

The Mathematical Economics Major is designed for students who have a strong interest in both mathematics and economics and are potentially considering a graduate degree in economics. See Mathematical Economics Major for details.

The Economic Policy Minor is designed for students with an interest in a variety of economic policy questions who are majoring in related fields. See Economic Policy Minor for details.

We congratulate our former graduate student, Ignazio Visco, Ph.D. 1981, who has been appointed Governor of the Bank of Italy by Prime Minister Silvio Berlusconi.

Ignazio Visco has been Deputy Director General of the Bank of Italy since 2007. 

For more information on him, see his profile at the Bank of Italy.

Congratulations to Thomas J. Sargent, who with Christopher A. Sims, was awarded the 2011 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for their empirical research on cause and effect in the macroeconomy.

He was a member of the Penn Economics faculty from 1970-1971. He is a member of  the Penn Institute for Economic Research (PIER) Advisory Board and in February 2004 was a Martha & Jonathan Cohen Distinguished Visitor.

For further information see The Sveriges Riksbank Prize in Economic Sciences in memory of Alfred Nobel 2011.

The Department of Economics has two or more tenure track Assistant Professor positions available.

Interested candidates can see the postings on EconJobMarket.

Devin Reilly won the Lawrence Robbins Prize which is awarded at the end of each year to the student judged to be the best in the first year class. He received the prize on September 23, 2011 during the New Student Reception, which was hosted by the Graduate Economics Society.

We congratulate our former graduate student, Lars-Hendrik Röller, PhD 1987, who was appointed Director General of the Economic and Financial Policy Division of the German government by Chancellor Angela Merkel.

He is currently on leave from his position as President of the European School of Management and Technology (ESMT) which he has held since 2006.

Professor Jere Behrman was invited by Kathleen Sebelius, Secretary of Health and Human Services, and he agreed to serve as the Economics/Social Science member of the National Institutes of Health (NIH)/National Institute of Child Health and Development (NICHD) National Advisory Council for 2011-14.