2020 Nobel Prize Winner in Economics
When central banks and government institutions act to influence the economy, citizens take notice and respond. That response, based on the rational expectations of individuals subject to macroeconomic policy, was long absent from economic discourse. Speaker Thomas Sargent helped give it a voice, and won a Nobel Prize for his efforts. Events seeking a masterful overview of current macroeconomics find their cornerstones in Thomas Sargent’s keynote addresses.
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A 2011 Nobel Laureate, economics speaker Thomas Sargent has devoted his career to understanding cause and effect in the macroeconomy. As a writer, researcher, and sought-after keynote speaker, Thomas Sargent offers refreshing perspectives on our most important economic questions.
When central banks respond to current conditions by adjusting interest rates, can they know how the wider economy will respond? That and related questions spurred Thomas Sargent to investigate exactly what causes what in national and global markets.
The answers he and colleague Christopher Sims discovered help us understand unemployment, inflation, and economic crises. Citizens respond to government action, they found, by changing their own behaviour, complicating the effects of central financial policy. This insight upturned some long-held tenets of post-Keynesian economics, and continues to inform global economic thinking.
Sargent is professor of economics at New York University and a senior fellow at the Hoover Institution. He joined NYU as the school’s first WR Berkley Professor in 2002, building on an illustrious academic career.
After earning his PhD from Harvard, Sargent joined the US Army and rose to the rank of captain. He was a professor of economics at the University of Minnesota before being named the David Rockefeller Professor at the University of Chicago. He then joined Stanford University as the Donald Lucas Professor of Economics.
His books Macroeconomic Theory and Dynamic Economic Theory are still used as textbooks at colleges around the world. He also co-authored Rational Expectations Econometrics with Lars Peter Hansen, himself a Nobel Laureate.
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