Famous Economists
The father of modern economics.
Who is Adam Smith?
An elementary theory that explains how equilibrium price and quantity are determined at the intersection of these two curves.
What is supply and demand?
This has (historically) been the main policy lever for the Fed to reduce inflation.
What is increasing the federal funds rate?
This U.S. president promoted supply-side economics and deregulation in the 1980s.
What is Ronald Reagan?
This professor and chair of the department teaches ECON1000.
Who is Prof. Triest?
The current chairman of the Fed.
Who is Jerome Powell?
This term refers to the added satisfaction a user gets from consuming one more unit of a good or service.
What is marginal utility?
The Federal Reserve system has this many banks.
What is 12?
This year had the largest (annualized) GDP decline in US history.
What is 2020?
This professor is known for promoting environmentally friendly practices as they pertain to economics.
Who is Prof. Venkatesan?
His work as a graduate student in equilibria and bargaining is central to modern game theory.
Who is John Nash?
A theory that explains the way individuals consume a resource, by simultaneously acting to deplete it entirely at the expense of every other individual.
What is tragedy of the commons?
This president created the Federal Reserve through a congressional act.
Who is Woodrow Wilson?
In this decade the U.S. dollar was created.
What is the 1790s?
This professor of Principles of Macroeconomics is the advisor for the Federal Reserve Challenge Team.
Who is Prof. Kimelman?
The branch of economic thought named after this widely respected economist provided the underpinnings of the world’s response to the 2008 financial crisis.
Who is John Maynard Keynes?
The most common factor used to consider the elasticity of demand.
What is price?
The Fed's dual mandate includes these two objectives.
What is maximum employment and low inflation?
This type of security caused the 2008 Financial Crisis.
What is subprime mortgage?
This professor leads a dialogue called Economic Development in Rwanda.
Who is Prof. Dupree?
The only person to have served as both the chairman of the Fed and treasury secretary.
Who is Janet Yellen?
A prominent model of long-run economic growth considers capital accumulation, labor/population growth, and tech progress.
What is the Solow-Swan model?
The general term for the set of policies to control a nation’s money supply and achieve economic growth.
What is monetary policy?
Black Tuesday occurred in this month and year. (Extra point for getting the day!)
This microeconomist (and NEU prof) won the national tennis championship for her age group in 2019.
Who is Prof. Reimers?