NYU Stern Welcomes Nobel Economist

Andrew Michael Spence, a 2001 Nobel Laureate in Economics, will join the faculty of New York University Stern School of Business as Professor of Economics effective September 1, 2010, the school announced Monday.

Spence, whose scholarship focuses on economic policy in emerging markets, the economics of information, and the impact of leadership on economic growth, is a Senior Fellow at the Hoover Institution and the Philip H. Knight Professor Emeritus of Management at the Graduate School of Business at Stanford University, where he also served as dean from 1990 to 1999.

Spence shared the 2001 Nobel Memorial Prize for Economics with George Akerlof from the University of California, Berkeley, and Joseph Stiglitz, from Columbia University in New York. They received the award for their “analyses of markets with asymmetric information,” according to a statement from the Nobel Foundation in Stockholm.

“Mike, through his broad portfolio of activities, all performed at the highest level, and fundamentally propelled by deep academic expertise, embodies the kind of integrative thinking that NYU Stern continues to bring to bear on the complex problems of business in the 21st century,” said Peter Henry, dean of NYU Stern.

“Our finance faculty have provided real-time analysis and remedies for the financial crisis with their book ‘Restoring Financial Stability.’  With his stature in the international policy-making community, Mike’s appointment strengthens an already stellar finance and economics faculty that is providing critical insights on the fundamental policy questions facing the world in the aftermath of the crisis.”

For more background on Spence and his move to NYU Stern, click here.

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