Swarthmore College hosts Nobel-winning economist


Swarthmore College in Pennsylvania is well known for producing successful professionals, including numerous Nobel prize-winners. The school also hosts speakers with exceptional credentials, such as George Akerlof, a 2001 recipient of the Nobel Memorial Prize in Economic Sciences.

Akerlof and Robert Johnson, the executive director of the Institute for New Economic Thinking (INET), are two economists who spoke at the school through INET's College Outreach program.

"It was great to get some perspective on the thought process of a great economic thinker," said Dan Stair, a student at the school who spoke with Akerlof after the lecture. "Usually, I would just get to contemplate the Nobel Prize-winning paper he wrote, but seeing how he approached problems in economics in search of truly novel ways of thinking about them was a great experience for me as an economics student."

According to the U.S. Bureau of Labor Statistics, economists study how society distributes resources, such as land, labor, raw materials and machinery, to produce goods and services. They conduct research, collect and analyze data, monitor economic trends and develop forecasts on a wide variety of issues, including energy costs, inflation, interest rates, exchange rates, business cycles, taxes and employment levels, among others.

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