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 lecturer is a former lawyer and is known for his exciting lectures, difficult intro courses, and for teaching Contemporary Problems in Economics.
Who is Derek Johnson?
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 their work on applied microeconomics and for teaching intermediate micro and health economics. (Also faculty advisor for the club!)
Who is David Simon?
His work as a graduate student in equilibria and bargaining is central to modern game theory.
Who is John Nash?
How much demand for a product changes as the price increases or decreases.
What is demand elasticity?
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 is the annual speaker series hosted by the Econ Society featuring academics from all over New England
What is the Invisible Hand Series?
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?
A situation where no action or allocation is available that makes one individual better off without making another worse off.
What is Pareto Efficiency/Optimality
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 has the highest rating of any Econ department member on RateMyProfessor and is known for teaching game theory
Who is Mike Shor?
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!)
What is Oct 29, 1929?
Warren Mosler is a UConn graduate, economist and former independent presidential candidate who is famous for his work on ______ Monetary Theory in Macroeconomics
What is Modern?