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</div> <div class="nav-primary__subsec-header"> <strong class="nav-primary__subsec-title"> <a href="https://www.harvard.edu/in-focus/" class="nav-primary__subsec-title-link" rel="bookmark" data-attribute="in-focus" > In Focus <span class="icon icon-arrow-right" aria-hidden="true"></span></a> </strong> <span class="nav-primary__subsec-description"> Explore a curated examination of Harvard's research, scholarly work, and community. Recent topics include: </span> </div> </div> <ol class="nav-primary__child-list nav-primary__child-list--depth-1 "> <li class="nav-primary__item nav-primary__item--depth-1 nav-primary__item--has-children nav-primary__item--sub-mob-vis-true"><button title="Toggle Sub-Menu" data-js="trigger-child-menu" id="menu-item-61466" data-id="61466" data-id-parent="61337" aria-expanded="false" aria-controls="menu-item-child-61466" data-depth="1" data-attribute="food" class="nav-primary__action nav-primary__action--depth-1 nav-primary__action--has-children"><span class="nav-primary__action-text">Food<span class="icon icon-chevron-right" aria-hidden="true"></span></span></button> <div class="nav-primary__child nav-primary__child--depth-2"id="menu-item-child-61466" data-js="child-menu" data-depth="2" aria-labelledby="menu-item-61466" aria-hidden="true"> <div class="nav-primary__subsec nav-primary__subsec--top nav-primary__subsec--has-content nav-primary__subsec--depth-2"> <div class="nav-primary__back nav-primary__back--depth-2"> <button id="menu-item-back-61466" class="nav-primary__back-action nav-primary__back-action--depth-2" title="Return to main menu" data-js="trigger-menu-return" aria-label="Return to main menu" aria-controls="menu-item-child-61466" aria-expanded="true" > <span class="nav-primary__back-action-icon icon icon-chevron-left" aria-hidden="true"></span> In Focus </button> </div> <div class="nav-primary__subsec-header"> <strong class="nav-primary__subsec-title"> Food </strong> <span class="nav-primary__subsec-description"> Food nourishes us, inspires us, and brings us together. The Harvard community is exploring nutrition, sustainability, and the science behind the things we eat. </span> <a href="https://www.harvard.edu/in-focus/food/" class="nav-primary__subsec-cta" rel="bookmark" data-attribute="dig-in" > <span class="icon icon-arrow-right" aria-hidden="true"></span>Dig in </a> </div> </div> <ol class="nav-primary__child-list nav-primary__child-list--depth-2 nav-primary__child-list--layout-content_cards"><li class="nav-primary__item-content_cards-wrapper"><strong class="nav-primary__item--content-card-title" id="content-card-title-61466">What's inside?</strong><ol class="nav-primary__list-content_cards-wrapper" aria-labelledby="content-card-title-61466"> <li class="nav-primary__item nav-primary__item--depth-2 nav-primary__item--layout-content_cards"><a href="https://news.harvard.edu/gazette/story/2024/09/why-do-we-crave-junk-food-diet-psychology/" data-depth="2" data-attribute="explore-why-we-crave-junk-food" class="nav-primary__action nav-primary__action--depth-2"> <figure class="nav-primary__item-image c-image" style="padding-top: 56.34765625%;"> <div class="c-image__image lazyload" role="img" aria-label="Nuggets and fries" data-expand="200" data-sizes="(min-width: 1260px) 1260px, 100vw" data-bgset="https://www.harvard.edu/wp-content/uploads/2024/11/chicken-nuggets-246180_1280.jpg?w=300 300w 169h, https://www.harvard.edu/wp-content/uploads/2024/11/chicken-nuggets-246180_1280.jpg?w=600 600w 338h" style="background-image:url('');"></div> </figure> <strong class="nav-primary__item-title"> <span class="nav-primary__item-title-text"> Explore why we crave junk food </span> </strong> </a></li> <li class="nav-primary__item nav-primary__item--depth-2 nav-primary__item--layout-content_cards"><a href="https://pll.harvard.edu/catalog?keywords=cooking" data-depth="2" data-attribute="learn-the-chemistry-and-physics-of-cooking" class="nav-primary__action nav-primary__action--depth-2"> <figure class="nav-primary__item-image c-image" style="padding-top: 56.22641509434%;"> <div class="c-image__image lazyload" role="img" aria-label="A jar with a sourdough starter in front of some wheat" data-expand="200" data-sizes="(min-width: 1260px) 1260px, 100vw" data-bgset="https://www.harvard.edu/wp-content/uploads/2024/11/Fermentation_Image-1.jpeg?w=300 300w 169h, https://www.harvard.edu/wp-content/uploads/2024/11/Fermentation_Image-1.jpeg?w=530 530w 298h" style="background-image:url('');"></div> </figure> <strong class="nav-primary__item-title"> <span class="nav-primary__item-title-text"> Learn the chemistry and physics of cooking </span> </strong> </a></li> </ol></li></ol> </div> </li> <li class="nav-primary__item nav-primary__item--depth-1 nav-primary__item--has-children nav-primary__item--sub-mob-vis-true"><button title="Toggle Sub-Menu" data-js="trigger-child-menu" id="menu-item-61280" data-id="61280" data-id-parent="61337" aria-expanded="false" aria-controls="menu-item-child-61280" data-depth="1" data-attribute="the-enhanced-body" class="nav-primary__action nav-primary__action--depth-1 nav-primary__action--has-children"><span class="nav-primary__action-text">The Enhanced Body<span class="icon icon-chevron-right" aria-hidden="true"></span></span></button> <div class="nav-primary__child nav-primary__child--depth-2"id="menu-item-child-61280" data-js="child-menu" data-depth="2" aria-labelledby="menu-item-61280" aria-hidden="true"> <div class="nav-primary__subsec nav-primary__subsec--top nav-primary__subsec--has-content nav-primary__subsec--depth-2"> <div class="nav-primary__back nav-primary__back--depth-2"> <button id="menu-item-back-61280" class="nav-primary__back-action nav-primary__back-action--depth-2" title="Return to main menu" data-js="trigger-menu-return" aria-label="Return to main menu" aria-controls="menu-item-child-61280" aria-expanded="true" > <span class="nav-primary__back-action-icon icon icon-chevron-left" aria-hidden="true"></span> In Focus </button> </div> <div class="nav-primary__subsec-header"> <strong class="nav-primary__subsec-title"> The Enhanced Body </strong> <span class="nav-primary__subsec-description"> From glasses and hearing aids to responsive prosthetics and 3D-printed organs, assistive body augmentations have changed the way we live. </span> <a href="https://www.harvard.edu/in-focus/prosthetics/" class="nav-primary__subsec-cta" rel="bookmark" data-attribute="explore-the-advancements" > <span class="icon icon-arrow-right" aria-hidden="true"></span>Explore the advancements </a> </div> </div> <ol class="nav-primary__child-list nav-primary__child-list--depth-2 nav-primary__child-list--layout-content_cards"><li class="nav-primary__item-content_cards-wrapper"><ol class="nav-primary__list-content_cards-wrapper" aria-labelledby="content-card-title-61280"> <li class="nav-primary__item nav-primary__item--depth-2 nav-primary__item--layout-content_cards"><a href="https://news.harvard.edu/gazette/story/2024/10/daniel-buser-honored-at-harvard-school-of-dental-medicine/" data-depth="2" data-attribute="the-progress-of-dental-implants" class="nav-primary__action nav-primary__action--depth-2"> <figure class="nav-primary__item-image c-image" style="padding-top: 65.72265625%;"> <div class="c-image__image lazyload" role="img" aria-label="A close-up of a dental implant" data-expand="200" data-sizes="(min-width: 1260px) 1260px, 100vw" data-bgset="https://www.harvard.edu/wp-content/uploads/2024/10/dental-implants.jpg?w=300 300w 197h, https://www.harvard.edu/wp-content/uploads/2024/10/dental-implants.jpg?w=600 600w 394h" style="background-image:url('');"></div> </figure> <strong class="nav-primary__item-title"> <span class="nav-primary__item-title-text"> The progress of dental implants </span> </strong> </a></li> <li class="nav-primary__item nav-primary__item--depth-2 nav-primary__item--layout-content_cards"><a href="https://gsas.harvard.edu/news/walk-robot" data-depth="2" data-attribute="the-innovation-of-wearable-robotics" class="nav-primary__action nav-primary__action--depth-2"> <figure class="nav-primary__item-image c-image" style="padding-top: 66.69921875%;"> <div class="c-image__image lazyload" role="img" aria-label="A diagram of how a wearable robot works" data-expand="200" data-sizes="(min-width: 1260px) 1260px, 100vw" data-bgset="https://www.harvard.edu/wp-content/uploads/2024/11/Wearable-robotics.jpg?w=300 300w 200h, https://www.harvard.edu/wp-content/uploads/2024/11/Wearable-robotics.jpg?w=600 600w 400h" style="background-image:url('');"></div> </figure> <strong class="nav-primary__item-title"> <span class="nav-primary__item-title-text"> The innovation of wearable robotics </span> </strong> </a></li> </ol></li></ol> </div> </li> <li class="nav-primary__item nav-primary__item--depth-1 nav-primary__item--has-children nav-primary__item--sub-mob-vis-true"><button title="Toggle 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aria-controls="menu-item-child-61167" aria-expanded="true" > <span class="nav-primary__back-action-icon icon icon-chevron-left" aria-hidden="true"></span> In Focus </button> </div> <div class="nav-primary__subsec-header"> <strong class="nav-primary__subsec-title"> Tradition of Service </strong> <span class="nav-primary__subsec-description"> Harvard celebrates the long, proud legacy of students and alumni who answer the call to military service. </span> <a href="https://www.harvard.edu/in-focus/veterans/" class="nav-primary__subsec-cta" rel="bookmark" data-attribute="explore-harvards-military-legacy" > <span class="icon icon-arrow-right" aria-hidden="true"></span>Explore Harvard's military legacy </a> </div> </div> <ol class="nav-primary__child-list nav-primary__child-list--depth-2 nav-primary__child-list--layout-content_cards"><li class="nav-primary__item-content_cards-wrapper"><strong class="nav-primary__item--content-card-title" id="content-card-title-61167">What's inside</strong><ol class="nav-primary__list-content_cards-wrapper" aria-labelledby="content-card-title-61167"> <li class="nav-primary__item nav-primary__item--depth-2 nav-primary__item--layout-content_cards"><a href="https://news.harvard.edu/gazette/story/series/harvard-and-the-military/" data-depth="2" data-attribute="harvard-and-the-military" class="nav-primary__action nav-primary__action--depth-2"> <figure class="nav-primary__item-image c-image" style="padding-top: 66.6%;"> <div class="c-image__image lazyload" role="img" aria-label="Three people being sworn into the military" data-expand="200" data-sizes="(min-width: 1260px) 1260px, 100vw" data-bgset="https://www.harvard.edu/wp-content/uploads/2023/05/052423_ROTC_KS_621-e1730139618386.jpeg?w=300 300w 200h, https://www.harvard.edu/wp-content/uploads/2023/05/052423_ROTC_KS_621-e1730139618386.jpeg?w=500 500w 333h" style="background-image:url('');"></div> </figure> <strong class="nav-primary__item-title"> <span class="nav-primary__item-title-text"> Harvard and the military </span> </strong> </a></li> <li class="nav-primary__item nav-primary__item--depth-2 nav-primary__item--layout-content_cards"><a href="https://news.harvard.edu/gazette/story/2024/11/number-of-armed-services-veterans-at-harvard-on-the-rise/" data-depth="2" data-attribute="the-long-crimson-line" class="nav-primary__action nav-primary__action--depth-2"> <figure class="nav-primary__item-image c-image" style="padding-top: 66.69921875%;"> <div class="c-image__image lazyload" role="img" aria-label="A student veteran wearing a "Harvard" sweatshirt looks up at names on the walls of Memorial Church" data-expand="200" data-sizes="(min-width: 1260px) 1260px, 100vw" data-bgset="https://www.harvard.edu/wp-content/uploads/2024/11/102524_Alexandria_Durrant_11.jpg?w=300 300w 200h, https://www.harvard.edu/wp-content/uploads/2024/11/102524_Alexandria_Durrant_11.jpg?w=600 600w 400h" style="background-image:url('');"></div> </figure> <strong class="nav-primary__item-title"> <span class="nav-primary__item-title-text"> The long Crimson line </span> </strong> </a></li> </ol></li></ol> </div> </li> </ol></div> </li> <li class="nav-primary__item nav-primary__item--depth-0 nav-primary__item--has-children"><button title="Toggle Sub-Menu" data-js="trigger-child-menu" id="menu-item-5404" data-id="5404" data-id-parent="0" aria-expanded="false" aria-controls="menu-item-child-5404" data-bgd-image-id="0-5404-0" data-depth="0" data-attribute="visit" class="nav-primary__action nav-primary__action--depth-0 nav-primary__action--has-children"><span class="nav-primary__action-text">Visit</span></button> <div class="nav-primary__child nav-primary__child--depth-1"id="menu-item-child-5404" data-js="child-menu" data-depth="1" aria-labelledby="menu-item-5404" aria-hidden="true"> <div class="nav-primary__subsec nav-primary__subsec--top nav-primary__subsec--has-content nav-primary__subsec--depth-1"> <div class="nav-primary__back nav-primary__back--depth-1"> <button 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class="nav-primary__action nav-primary__action--depth-1"><span class="nav-primary__action-text">Tours<span class="icon icon-arrow-right" aria-hidden="true"></span></span></a></li> <li class="nav-primary__item nav-primary__item--depth-1"><a href="https://www.harvard.edu/visit/maps-directions/" data-depth="1" data-attribute="maps-and-directions" class="nav-primary__action nav-primary__action--depth-1"><span class="nav-primary__action-text">Maps and directions<span class="icon icon-arrow-right" aria-hidden="true"></span></span></a></li> <li class="nav-primary__item nav-primary__item--depth-1"><a href="https://www.harvard.edu/visit/tour-providers/" data-depth="1" data-attribute="tour-providers" class="nav-primary__action nav-primary__action--depth-1"><span class="nav-primary__action-text">Tour Providers<span class="icon icon-arrow-right" aria-hidden="true"></span></span></a></li> </ol></div> </li> <li class="nav-primary__item nav-primary__item--depth-0 nav-primary__item--has-children"><button title="Toggle Sub-Menu" data-js="trigger-child-menu" id="menu-item-9083" data-id="9083" data-id-parent="0" aria-expanded="false" aria-controls="menu-item-child-9083" data-bgd-image-id="0-9083-0" data-depth="0" data-attribute="about" class="nav-primary__action nav-primary__action--depth-0 nav-primary__action--has-children"><span class="nav-primary__action-text">About</span></button> <div class="nav-primary__child nav-primary__child--depth-1"id="menu-item-child-9083" data-js="child-menu" data-depth="1" aria-labelledby="menu-item-9083" aria-hidden="true"> <div class="nav-primary__subsec nav-primary__subsec--top nav-primary__subsec--has-content nav-primary__subsec--depth-1"> <div class="nav-primary__back nav-primary__back--depth-1"> <button id="menu-item-back-9083" class="nav-primary__back-action nav-primary__back-action--depth-1" title="Return to main menu" data-js="trigger-menu-return" aria-label="Return to main menu" aria-controls="menu-item-child-9083" aria-expanded="true" > <span class="nav-primary__back-action-icon icon icon-chevron-left" aria-hidden="true"></span> About </button> </div> <div class="nav-primary__subsec-header"> <strong class="nav-primary__subsec-title"> <a href="https://www.harvard.edu/about/" class="nav-primary__subsec-title-link" rel="bookmark" data-attribute="about-harvard" > About Harvard <span class="icon icon-arrow-right" aria-hidden="true"></span></a> </strong> <span class="nav-primary__subsec-description"> Learn how Harvard is structured, explore our long history, and discover our extended community. </span> </div> </div> <ol class="nav-primary__child-list nav-primary__child-list--depth-1 "> <li class="nav-primary__item nav-primary__item--depth-1 nav-primary__item--has-children nav-primary__item--sub-mob-vis-true"><button title="Toggle Sub-Menu" data-js="trigger-child-menu" id="menu-item-26766" data-id="26766" data-id-parent="9083" aria-expanded="false" aria-controls="menu-item-child-26766" data-depth="1" data-attribute="history-of-harvard" class="nav-primary__action nav-primary__action--depth-1 nav-primary__action--has-children"><span class="nav-primary__action-text">History of Harvard<span class="icon icon-chevron-right" aria-hidden="true"></span></span></button> <div class="nav-primary__child nav-primary__child--depth-2"id="menu-item-child-26766" data-js="child-menu" data-depth="2" aria-labelledby="menu-item-26766" aria-hidden="true"> <div class="nav-primary__subsec nav-primary__subsec--top nav-primary__subsec--has-content nav-primary__subsec--depth-2"> <div class="nav-primary__back nav-primary__back--depth-2"> <button id="menu-item-back-26766" class="nav-primary__back-action nav-primary__back-action--depth-2" title="Return to main menu" data-js="trigger-menu-return" aria-label="Return to main menu" aria-controls="menu-item-child-26766" aria-expanded="true" > <span class="nav-primary__back-action-icon icon icon-chevron-left" 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class="b-list-with-image__item__title t-sink s-sink"> <h3>Claudia Goldin</h3> <p><strong>2023</strong></p> <p>“for having advanced our understanding of women’s labour market outcomes”</p> </div> <div class="b-list-with-image__item__description t-sink s-sink"> <p>Claudia Goldin, the Henry Lee Professor of Economics, provided the first comprehensive account of women’s earnings and labour market participation through the centuries. By trawling through the archives and compiling and correcting historical data, Goldin has been able to present new and often surprising facts. The fact that women’s choices have often been, and remain, limited by marriage and responsibility for the home and family is at the heart of her analyses and explanatory models.</p> <p>Her insights reach far outside the borders of the US and similar patterns have been observed in many other countries. Her research brings us a better understanding of the labour markets of yesterday, today and tomorrow.</p> </div> <figure class="c-image" > <img decoding="async" class="c-image__image" alt="" src="" /> </figure> </div> <div class="b-list-with-image__item"> <div class="b-list-with-image__item__title t-sink s-sink"> <h3>Michael Kremer</h3> <p><strong>2019</strong></p> <p>“for their experimental approach to alleviating global poverty.”</p> </div> <div class="b-list-with-image__item__description t-sink s-sink"> <p>Michael Kremer, the Gates Professor of Developing Societies in the Department of Economics, is one of three winners of the 2019 Nobel Prize in Economic Sciences. He shares the honor with Abhijit Banerjee and Esther Duflo of MIT. The award recognizes their work on reducing the massive problem of global poverty by focusing on carefully designed, targeted experiments that would lead to specific policy initiatives.</p> </div> <figure class="c-image" > <img decoding="async" class="c-image__image" alt="" src="" /> </figure> </div> <div class="b-list-with-image__item"> <div class="b-list-with-image__item__title t-sink s-sink"> <h3>Oliver Hart</h3> <p><strong>2016</strong></p> <p>“for contributions to contract theory.”</p> </div> <div class="b-list-with-image__item__description t-sink s-sink"> <p>Oliver Hart, the Andrew E. Furer Professor of Economics, is one of two recipients of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. Hart shares the award with Bengt Holmstrom of the Massachusetts Institute of Technology. Hart works mainly on contract theory, the theory of the firm, corporate finance, and law and economics. His research centers on the roles that ownership structure and contractual arrangements play in the governance and boundaries of corporations. He has been at Harvard since 1993.</p> </div> <figure class="c-image" > <img decoding="async" class="c-image__image" alt="" src="" /> </figure> </div> <div class="b-list-with-image__item"> <div class="b-list-with-image__item__title t-sink s-sink"> <h3>Alvin Roth</h3> <p><strong>2012</strong></p> <p>“for the theory of stable allocations and the practice of market design.”</p> </div> <div class="b-list-with-image__item__description t-sink s-sink"> <p>Alvin E. Roth shares the 2012 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel with Lloyd S. Shapley of the University of California, Los Angeles. Roth built on Shapley’s research to improve the design and functioning of markets, and his work matches “agents” in markets. Roth is one of the founders and designers of the New England Program for Kidney Exchange. He also helped design the high school matching system used in New York City to match approximately 90,000 students to high schools each year, and helped redesign the matching system used in Boston Public Schools. In 1998, Roth helped redesign the National Resident Matching Program to facilitate placement for couples seeking a medical residency in the same city.<br /> Roth is the George Gund Professor of Economics and Business Administration at Harvard Business School and in the Economics Department at the Faculty of Arts and Sciences.</p> </div> <figure class="c-image" > <img decoding="async" class="c-image__image" alt="" src="" /> </figure> </div> <div class="b-list-with-image__item"> <div class="b-list-with-image__item__title t-sink s-sink"> <h3>Eric S. Maskin</h3> <p><strong>2007</strong></p> <p>“For having laid the foundations of mechanism design theory.”</p> </div> <div class="b-list-with-image__item__description t-sink s-sink"> <p>Eric S. Maskin is an economist and a 2007 Nobel laureate recognized (along with Leonid Hurwicz and Roger B. Myerson) “for having laid the foundations of mechanism design theory.” Among other applications, that theory has helped economists identify socially valuable trading mechanisms, regulation schemes, and voting procedures. Maskin is a Professor of Economics at Harvard. After earning his doctorate at Harvard, Maskin went to the University of Cambridge in 1976, where he was a research fellow at Jesus College, and then taught at the Massachusetts Institute of Technology (1977-84), at Harvard (1985-2000), where he was the Louis Berkman Professor of Economics, and at the Institute for Advanced Study (2000-2011), where he was the Albert O. Hirschman Professor of Social Science. Besides mechanism design, he has made contributions to game theory, political economy, and other areas of economics. He is a member of the National Academy of Sciences, a fellow of the American Academy of Arts and Sciences, the Econometric Society, the European Economic Association, and the Royal Spanish Academy of Economics and Finance, and a corresponding fellow of the British Academy. He was president of the Econometric Society in 2003 and is currently president of the Game Theory Society. He received the Centennial Medal of the Harvard Graduate School of Arts and Sciences in 2010.</p> </div> <figure class="c-image" > <img decoding="async" class="c-image__image" alt="" src="" /> </figure> </div> <div class="b-list-with-image__item"> <div class="b-list-with-image__item__title t-sink s-sink"> <h3>Thomas C. Schelling</h3> <p><strong>2005</strong></p> <p>“For having enhanced our understanding of conflict and cooperation through game-theory analysis.”</p> </div> <div class="b-list-with-image__item__description t-sink s-sink"> <p>In 1958, Schelling was appointed professor of economics at Harvard, but he spent his first year on leave working for the RAND Corp. In 1960, Harvard University Press published what would become Schelling’s best-known work, “The Strategy of Conflict,” in which he used game theory to analyze international conflict, thereby encouraging the use of game theory throughout the social sciences. In 1969, Schelling became one of the “founding fathers” of Harvard’s John F. Kennedy School of Government. The Kennedy School annually bestows the Thomas C. Schelling Award for transformative work in public policy. Retiring from Harvard in 1990, Schelling became a professor at the University of Maryland. Schelling shared the 2005 Nobel in economics with Robert J. Aumann of Hebrew University.</p> </div> <figure class="c-image" > <img decoding="async" class="c-image__image" alt="" src="" /> </figure> </div> <div class="b-list-with-image__item"> <div class="b-list-with-image__item__title t-sink s-sink"> <h3>A. Michael Spence</h3> <p><strong>2001</strong></p> <p>“For analyses of markets with asymmetric information.”</p> </div> <div class="b-list-with-image__item__description t-sink s-sink"> <p>A. Michael Spence won for economic theories based on his Harvard doctoral thesis. Markets with asymmetric information happen when people on one side have much better information than those on the other: for instance, borrowers who know more about their repayment prospects than lenders, or Nobel Prize committee members who know who the winners are before anyone else does.</p> <p>When Spence chose his dissertation topic, he did it out of personal interest, not because he was trying to win prizes. In a 1984 interview with The New York Times, Spence said, “I can’t imagine people making decisions [about what to study] on the basis of how much something would contribute to their winning a Nobel Prize or a John Bates Clark Medal (which Spence won in 1981). A large amount of winning such prizes is randomness. To win a Nobel you have to be a certified genius, which I am not, or lucky, which I have been. But you can’t bet on it, so it doesn’t enter into the decision-making. You spend so much time doing this, that if you don’t enjoy what you are doing, it just wouldn’t work.”</p> <p>In addition to holding a number of professorial appointments at Harvard, Spence served as dean of Harvard’s Faculty of Arts and Sciences from 1984 to 1990. He is also a former dean at Stanford University, where he is currently the Philip H. Knight Professor Emeritus. Spence shared the Nobel Prize with George A. Akerlof and Joseph E. Stiglitz.</p> </div> <figure class="c-image" > <img decoding="async" class="c-image__image" alt="" src="" /> </figure> </div> <div class="b-list-with-image__item"> <div class="b-list-with-image__item__title t-sink s-sink"> <h3>Amartya Sen</h3> <p><strong>1998</strong></p> <p>Research on welfare economics</p> </div> <div class="b-list-with-image__item__description t-sink s-sink"> <p>Three million people died in India’s 1943 Bengal famine. Witnessing it was 9-year-old Amartya Sen, who 55 years later won the Nobel Prize in Economics for his work on poverty and famine. Sen has made key contributions to the research on problems in welfare economics. Almost all of Sen’s works deal with development economics, which is often devoted to the welfare of the poor. His work has improved the theoretical foundation for comparing different distributions of society’s welfare and enhanced understanding of the economic mechanisms underlying famines.</p> </div> <figure class="c-image" > <img decoding="async" class="c-image__image" alt="" src="" /> </figure> </div> <div class="b-list-with-image__item"> <div class="b-list-with-image__item__title t-sink s-sink"> <h3>Robert C. Merton</h3> <p><strong>1997</strong></p> <p>For a new method to determine the value of derivatives</p> </div> <div class="b-list-with-image__item__description t-sink s-sink"> <p>When Robert C. Merton was a graduate student in applied mathematics he had an unusual moonlighting job – he’d visit a local brokerage at 6:30 every morning and spend a few hours trading securities. Later, when he went to M.I.T. to study economics under Nobel Laureate Paul Samuelson, it struck him that his early morning activity could be placed on a scholarly footing. “I realized that what I’d been doing could be a field of economics.” And so it became. Since the 1960s, Merton has been researching the financial risk associated with derivatives, a financial instrument connected to a stock. Merton was the George Fisher Baker Professor of Business Administration from 1988 to 1998, and the John and Natty McArthur University Professor from 1998 until his retirement in 2010.</p> </div> <figure class="c-image" > <img decoding="async" class="c-image__image" alt="" src="" /> </figure> </div> <div class="b-list-with-image__item"> <div class="b-list-with-image__item__title t-sink s-sink"> <h3>Wassily W. Leontief</h3> <p><strong>1973</strong></p> <p>Developed the input-output analysis used in forecasting and planning the economy</p> </div> <div class="b-list-with-image__item__description t-sink s-sink"> <p>Leontief’s pioneering formulas allowed economists to determine with unprecedented precision how changes in one sector of the economy impact on the performance of others. The third Harvard professor to win the Nobel in Economics in three straight years, the activist-economist joked, “Do you think there should be an anti-trust investigation?”</p> </div> <figure class="c-image" > <img decoding="async" class="c-image__image" alt="" src="" /> </figure> </div> <div class="b-list-with-image__item"> <div class="b-list-with-image__item__title t-sink s-sink"> <h3>Kenneth J. Arrow</h3> <p><strong>1972</strong></p> <p>Contributed to the general economic equilibrium theory and welfare theory</p> </div> <div class="b-list-with-image__item__description t-sink s-sink"> <p>Arrow’s work, incorporating advanced mathematical methods into economics and political science, has helped shape state economic policies around the world. A humanist as well as a “technical superscientist,” Arrow has always tried to apply his complex, abstract theory to concrete social realities, such as education, racial discrimination, medical care, and the environment. He is professor emeritus at Stanford University.</p> </div> <figure class="c-image" > <img decoding="async" class="c-image__image" alt="" src="" /> </figure> </div> <div class="b-list-with-image__item"> <div class="b-list-with-image__item__title t-sink s-sink"> <h3>Simon S. Kuznets</h3> <p><strong>1971</strong></p> <p>Developed the concept of using GNP as a measure of change in the nation’s economic growth</p> </div> <div class="b-list-with-image__item__description t-sink s-sink"> <p>Kuznets was a major figure in the development of quantitative economic research. During World War II, his ideas were pivotal in the country’s successful transition to war production. An understated, modest man devoted to work, family, and friends, Kuznets, even in his last weeks, always greeted visitors with two questions: First, “What are you working on?” Then, “Tell me about your family.”</p> </div> <figure class="c-image" > <img decoding="async" class="c-image__image" alt="" src="" /> </figure> </div> </div> </div> </section> </div> </main> <footer class="site-footer"> <div class="l-container site-footer__container"> <div class="site-footer__row site-footer__row--navigation"> <div class="site-footer__menu-col"> <h2 class="site-footer__menu-heading">Security & Brand</h2> <nav class="site-footer__nav" aria-label="Security & Brand Navigation"> <ol class="site-footer__nav-list"> <li class="footer-one__item"><a href="https://www.harvard.edu/copyright-issue/" class="footer-one__action" data-attribute="report-copyright-infringement-2">Report Copyright Infringement</a></li><li class="footer-one__item"><a href="https://www.harvard.edu/security-issue/" class="footer-one__action" data-attribute="report-security-issue-2">Report Security Issue</a></li><li class="footer-one__item"><a href="https://trademark.harvard.edu/pages/trademark-notice" class="footer-one__action" data-attribute="trademark-notice">Trademark Notice</a></li> </ol> </nav> </div> <div class="site-footer__menu-col"> <h2 class="site-footer__menu-heading">Website</h2> <nav class="site-footer__nav" aria-label="Website Navigation"> <ol class="site-footer__nav-list"> <li class="footer-two__item"><a href="https://accessibility.harvard.edu/" class="footer-two__action" data-attribute="accessibility">Accessibility</a></li><li class="footer-two__item"><a href="https://accessibility.huit.harvard.edu/digital-accessibility-policy" class="footer-two__action" data-attribute="digital-accessibility">Digital Accessibility</a></li><li class="footer-two__item"><a rel="privacy-policy" href="https://www.harvard.edu/privacy-statement/" class="footer-two__action" data-attribute="9826">Privacy statement</a></li> </ol> </nav> </div> <div class="site-footer__menu-col"> <h2 class="site-footer__menu-heading">Get In Touch</h2> <nav class="site-footer__nav" aria-label="Get In Touch Navigation"> <ol class="site-footer__nav-list"> <li class="footer-three__item"><a href="/contact-harvard" class="footer-three__action" data-attribute="contact-harvard">Contact Harvard</a></li><li class="footer-three__item"><a href="/maps-directions" class="footer-three__action" data-attribute="maps-directions">Maps & Directions</a></li><li class="footer-three__item"><a href="http://hr.harvard.edu/jobs" class="footer-three__action" data-attribute="jobs">Jobs</a></li> </ol> </nav> </div> </div> <div class="site-footer__row site-footer__row--secondary"> <div class="site-footer__copyright"> <p>Copyright © 2024 The President and Fellows of Harvard College</p> </div> <div class="site-footer__logo "> <a href="https://www.harvard.edu/"> <img src="/wp-content/themes/core/assets/img/theme/branding-assets/footer-logo.svg" alt="Harvard University" /> </a> </div> <div class="site-footer__social "> <div class="social-follow"> <ul class="social-follow__list"> <li class="social-follow__item social-follow__item--instagram"> <a href="https://www.instagram.com/harvard/" class="social-follow__anchor" rel="me noopener" title="Instagram"> <span>Instagram</span> <img src="https://www.harvard.edu/wp-content/uploads/2023/11/Instagram-1.png" alt="Instagram" aria-hidden="true" /> </a> </li> <li class="social-follow__item social-follow__item--tiktok"> <a href="https://www.tiktok.com/@harvard" class="social-follow__anchor" rel="me noopener" title="TikTok"> <span>TikTok</span> <img src="https://www.harvard.edu/wp-content/uploads/2023/11/tiktok-1.png" alt="TikTok" aria-hidden="true" /> </a> </li> <li class="social-follow__item social-follow__item--linkedin"> <a href="https://www.linkedin.com/school/harvard-university" class="social-follow__anchor" rel="me noopener" title="LinkedIn"> <span>LinkedIn</span> <img src="https://www.harvard.edu/wp-content/uploads/2023/11/Linkedin-1.png" alt="LinkedIn" aria-hidden="true" /> </a> </li> <li class="social-follow__item social-follow__item--facebook"> <a href="https://www.facebook.com/Harvard/" class="social-follow__anchor" rel="me noopener" title="Facebook"> <span>Facebook</span> <img src="https://www.harvard.edu/wp-content/uploads/2023/11/FB3.png" alt="Facebook" aria-hidden="true" /> </a> </li> <li class="social-follow__item social-follow__item--youtube"> <a href="https://www.youtube.com/harvard" class="social-follow__anchor" rel="me noopener" title="YouTube"> <span>YouTube</span> <img src="https://www.harvard.edu/wp-content/uploads/2023/11/youtube-1.png" alt="YouTube" aria-hidden="true" /> </a> </li> </ul> </div> </div> </div> </div> </footer> </div> <script>window.Promise || document.write('<script src="https://www.harvard.edu/wp-content/themes/core/assets/js/vendor/es6-promise.auto.js"><\/script>'); 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