In the News
May 12, 2012
UB Conference Honors Nobel Laureate and Former Faculty Member
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1991 Nobel Prize winner Ronald Coase to receive honorary doctorate from SUNY
BUFFALO, N.Y. -- The University at Buffalo will honor Nobel Laureate Ronald Coase on May 12 at the Buffalo-Niagara Marriott from 9:30 a.m. to 4:30 p.m. as part of a conference that pays tribute to his innovative work, especially over the last decade. The State University of New York will also award Coase with an honorary doctorate degree the following day, during UB’s 166th general commencement ceremony.
The invitation-only event is being organized by the Center for Human Capital in the UB Department of Economics. Coase was a faculty member in UB’s economics department for 8 years in the 1950s, arriving here from the London School of Economics. In 1991 he was awarded the Nobel Prize in economics for “his discovery and clarification of the significance of transaction costs and property rights for the institutional structure and functioning of the economy.” His work has had a profound impact on modern economics; it clarified the theory of the firm and gave rise to the field of Law and Economics.
Coase is the Clifton R. Musser Professor Emeritus of Economics at the University of Chicago Law School and founder of the Ronald Coase Center for the Study of the Economy at Zhejiang University, China.
The conference honoring Coase is sponsored by the UB Office of the Vice President of Research and Economic Development, School of Management, College of Arts and Sciences and the Center for Human Capital.
Titled The Market for Ideas, Human Capital, and Economic Development, the day’s theme acknowledges the central issue Coase has pursued over the last decade concerning the institutional factors that have contributed to China’s transformation into a market economy.
“The conference will also explore the link between the market for ideas and economic development more generally -- how the market for ideas contributes to the development of innovative human capital as the ultimate engine of self-sustaining and persistent growth in productivity and individual income,” said Isaac Ehrlich, PhD, SUNY and UB Distinguished Professor and chair of the Department of Economics.
“The common theme is that the incentives for individuals to invest in human capital, the rate of growth of human capital and the economic returns to human capital are fundamentally influenced by the market for ideas because it dictates how knowledge is produced, disseminated and utilized.”
In addition to his intellectual contributions to economics, Coase was responsible for policy reform in broadcasting, arguing that a property rights mentality was a more efficient means of allocating radio and television frequencies to potential licensees than other methods in use at the time. His 1959 article on the subject has led to him sometimes being referred to as the “father of reform” of the electromagnetic spectrum.
Coase will be among the conference presenters, joined by other outstanding scholars within and outside of UB, including 1993 Nobel Laureate Douglass North.
Professor Honored For Teaching Excellence
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Dr. Peter Morgan was awarded the Milton Plesur Excellence in Teaching Award. This award is given out annually to professors who create a helpful learning environment and continue their impact outside of the classroom. The award is named after late UB history professor, Milton Plesur. Plesur crossed the boundaries of the typical student/teacher relationship by establishing friendships with students. The winners of this award have Plesur’s attributes and are nominated by students. More information available on this webpage |
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SEMINAR SERIES Join the Economics Department as we sponsor a series of seminars throughout the acedemic year. These seminars are free of charge and all are welcome to attend. |
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2/1 |
Jiyoon Oh |
University of Rochester | The Cyclicality of Firm Size Distribution and its Effect on Aggregate Fluctuations |
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INAUGURAL NEWSLETTER The Inaugural Newsletter produced jointly by the Economics Department and the Center for Human Capital is now available online. Learn about the most recent developments including center projects, newest journal issues, and faculty appointments.
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Latest Issue of Journal of Human Capital Available The fourth issue of the Journal of Human Capital (JHC) is now available. The Journal of Human Capital, published by the University of Chicago Press, is dedicated to human capital and its expanding economic and social role especially in today’s emerging “knowledge economy.” Developed in response to the growing recognition of the central role human capital plays in determining allocation, distribution, and long-term growth of economic resources, JHC is a forum for theoretical and empirical work in human capital and related public policy analysis. To visit the JHC webpage at the University of Chicago and to download the first issue Click Here. |
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Masters Economics Programs Reaches a New Peak!!! For the first time in its program history, the UB Masters Economics Program has over 200 students in residence. This increase can be attributed to the strength and uniqueness of our Masters Economics Programs. Our students are better prepared academically to meet the skill sets employers demand. Additionally, the dedication and talents of our department's faculty and staff have been instrumental to this success. For more information on the Masters Economics Programs, Click Here. |