News 2018-2019

Congratulations to LSE Department of Economics alumnus Kilian Huber who has been awarded the Deutscher Studienpreis 2019. This award is given by the Körber Foundation and honours excellent dissertations with particularly high social relevance.

The title of Kilian’s competition entry was: How harmful are banking crises? Is breaking up big banks a dangerous reaction to bank crises? Only few German banks were hit directly by the 2008 financial crisis and reduced their loans. Kilian demonstrated that not only the companies linked directly to the affected banks were forced to postpone investments and lay off employees but that employment also declined at other companies, who continued to receive loans from healthier banks.

Kilian completed his BSc, MSc and PhD in the LSE Department of Economics. He is now Assistant Professor of Economics, Booth School of Business, University of Chicago.

Head of Department, Professor Steve Pischke, shared his congratulations: 

“Congratulations to Kilian for his excellent work, which has improved our understanding of the macroeconomic effects of banking crises and how these effects come about.”

July 2019

We are very proud to congratulate former PhD student Daron Acemoglu on being named Institute Professor at Massachusetts Institute of Technology (MIT), the most prestigious title at the institution. Having gained his MSc at LSE, Daron continued his research studies with us and was awarded his PhD in 1992. He subsequently stayed as a Lecturer in Economics at the School before moving on to MIT.

Daron’s principal interests are political economy, development economics, economic growth, economic theory, technology, income and wage inequality, human capital and training, and labour economics. His research work has produced far-ranging and influential studies.

Head of Department, Professor Steve Pischke, said “Congratulations, Daron. He has made remarkable contributions to economics in research, teaching, and training PhDs alike. Having worked with him, Daron’s success comes as absolutely no surprise to me. He combines curiosity, creativity, and ingenuity in a rare fashion.” 

Daron’s award highlights our exceptionally talented students who become part of the economics community at LSE and beyond.     

July 2019

'The organisers, students and faculty at CERGE-EI were so incredibly welcoming. I’m very lucky to have had this opportunity to present my work and to hang out with smart people from so many different countries.' - Charoo Anand, BSc EME 2018 and current pre-doctoral student at LSE

Congratulations to Charoo Anand who has won the 2019 New Economic Talent (NET) competition. Organised by the Center for Economic Research and Graduate Education - Economics Institute (CERGE-EI), the final round took place on 31 May 2019.

Four finalists presented their papers to the CERGE-EI evaluation committee. Charoo's winning paper, which she wrote for her bachelor’s dissertation, studies discrimination against African Americans by mortgage lenders in Chicago: ‘Do mortgage lenders discriminate against African American areas? An instrumental variable approach.’

Upon hearing the news, Dr Judith Shapiro said:

‘Charoo’s outstanding research on racial discrimination is, in our best traditions, both policy-relevant and econometrically sophisticated. Our Tuesday evening Sen Club was entranced to hear her present the paper in Lent Term and I hope it will inspire successors. Coming after last year’s NET prize to classmate, Sitong Ding, it shows the rich vein of undergraduate research we continue to develop.’

Sitong Ding, BSc EME 2018, won the competition in 2018, for his paper "Bounded Rationality in Rules of Price Adjustment and the Phillips Curve".

Professor Steve Pischke, Head of Department, shares his congratulations:

'Congratulations to Charoo for this well-deserved recognition. She continues the very strong record our BSc EME students have winning this and other international competitions.'

June 2019

LSE is ranked number four in the Tilburg University Top 100 Worldwide Economics Schools Research Ranking, based on research contribution from 2014-2018. In addition, LSE is the only non-US department in the top 10. See the rankings here.

The Tilburg University Economics Ranking provides a standard Top 100 of Economics schools, based on a subset of journals in their database, over a 5-year period. Their database covers publications in 74 leading economics journals, among which features the departmental journal Economica.

For further information, please visit the Tilburg University Economics Ranking website.

May 2019

Tim Besley, School Professor of Economics and Political Science & W. Arthur Lewis Professor of Development Economics, has joined the panel of the Deaton Review. Launched by the Institute for Fiscal Studies (IFS) on Tuesday 14 May 2019, the review is a five year study, funded by the Nuffield Foundation, to explore inequalities in many dimensions; both their causes and consequences.

The panel is led by Nobel Laureate Professor Sir Angus Deaton, and includes world-leading experts in sociology, epidemiology, political science, philosophy and economics. The project will also draw on contributions from dozens more experts with diverse areas of expertise and perspectives.

The review has two phases. From 2019-2020 the panel will commission studies and commentaries on a large number of key themes. Once complete, these will be brought together in a published volume, forming the core evidence of the review.

In the second phase, the panel will bring together the insights from the evidence volume to build a comprehensive and coherent narrative around the key questions that motivated the project in the first place: which inequalities matter, why do they matter, how are they related, what causes them, and what can be done about them. A particular focus will be on providing comprehensive and practical policy guidance. The findings will be published as a short book, comprising the second and final volume of the review.

Find out more about the IFS Deaton Review here.

May 2019

The Department of Economics and many colleagues and friends at the School, wish Happy Birthday to Basil Yamey, who is turning 100 on 4 May 2019. Basil was a member of the Department’s academic staff from 1947 until his retirement in 1984, with a one year hiatus at McGill. 

In celebration of Basil's birthday, colleagues and friends, Richard Jackman, Richard Layard, David Metcalf, Steve Nickell, Steve Pischke, Christopher Pissarides and John Sutton, share their birthday wishes and memories of Basil here.

May 2019

The Students' Union has announced the winners of the Teaching Excellence Awards. We’re thrilled to share the news that members of the Department of Economics have won in three of the seven individual categories! We’re also delighted to announce the Department of Economics was the runner up for the Departmental Excellence Award.

Congratulations to Kasia Krajniewska (Undergraduate Tutor to 2nd year students) who has won the award for Excellent Feedback and Communication; Junius Olivier (Undergraduate Tutor to 1st year students) on winning the award for Excellent Welfare and Pastoral Support; and Izabela Wnuk (Graduate Teaching Assistant, EC102 Economics B) for the award for Sharing Subject Knowledge. 

Additionally, there were three runners up from the Department. Huge congratulations to: Rahul Chauhan (Graduate Teaching Assistant, EC210) runner up for the award for Excellent Feedback and Communication; Dr Rachel Ngai (EC100; EC301; EC539) runner up for the award for Inspirational Teaching; and Professor Ronny Razin (EC102; EC302), runner up for the Innovative Teaching award. 

Four members of the Department were highly commended for awards: Dr Judith Shapiro (Senior Lecturer in Practice) for Mentoring and Personal Development; Chiara Sotis (EC201 Course Manager) for Excellent Welfare and Pastoral Support; Derek Pillay (EC210 Course Manager) and Jack Shannon (Graduate Teaching Assistant, EC201) for Inspirational Teaching. Congratulations to all!

Professor Steve Pischke, Head of Department of Economics, shares his congratulations:

'It’s great to see so many colleagues in the Department being recognised by the student-led awards, as well as the overall effort at the Departmental level. Congratulations to all the winners.'

April 2019

The Department is delighted to announce that Professor Oriana Bandiera and Professor Imran Rasul have been jointly awarded the 2019 Yrjö Jahnsson Award in Economics. 

Oriana Bandiera is Professor of Economics and Sir Anthony Atkinson Chair in Economics at LSE, Director of STICERD and State Research Programme Director for the IGC and Member of the IGC Steering Group. 

Imran Rasul is Professor of Economics at University College London, co-director of the Centre for the Microeconomic Analysis of Public Policy at the Institute for Fiscal Studies and Firms Research Programme Director for the IGC. Imran is an LSE Department of Economics alumnus: BSc Economics (1995); PhD Economics (2003).

In 1993 the Finnish Yrjö Jahnsson Foundation established a biennial award, called the Yrjö Jahnsson Award in Economics, for a European economist no older than 45 years old who has made a contribution in theoretical and applied research that is significant to economics in Europe. The European Economic Association (EEA) cooperates with the Yrjö Jahnsson Foundation in the selection of the award winners. 

Oriana Bandiera and Imran Rasul are applied microeconomists. Their work on the role of social relationships in economics, advanced through pioneering field experiments in the workplace and social networks, has provided salient contributions to economics, especially to the fields of personnel economics and development. Read more here.

Professor Steve Pischke, Head of Department of Economics, shares his congratulations:

"Congratulations from the Department of Economics and the entire Economics community at the LSE to Oriana and Imran for this prestigious award. Their pioneering work on the interaction of social relations in the workplace with economic incentives has generated an active literature and changed the way economists think about employment relations. Most deserved."

April 2019

From 25 February 2019-1 March 2019, five students took over @lse.economics on Instagram. One MSc and four BSc students shared pictures and videos of their life as an LSE student, everyday life in the Department and living in London! 

Do you follow @lse.economics on Instagram? You can watch all the student takeovers on our Instagram highlight reel. Enjoy!

Meet our takeover students: 

Wye Yew How, BSc Economics

‘My name’s Wye Yew and I’m a First Year BSc Economics student. Catch me on Economics Department’s Insta Story as I bring you into my life as a busy Economics student, venturing into my role in the LSESU Economics Society and the outside options you can take in the course!’

Eniola Ladapo, BSc Economics

‘My name’s Eniola and I’m a First Year BSc Economics student. When I took over the LSE Economics Department’s Instagram account, I ran a Q&A session. I aimed to represent the life of an LSE student and answer questions that I had as a prospective student and offer holder!’ 

Ciaran Marshall, BSc Economics

‘University has been fantastic so far. The opportunities within LSE and London are immense! My experience has allowed me to live life ‘to its fullest.’’

Rohan Ramesh, BSc Economics

‘Don’t forget to make the most of your time in London! Being in this city, with its breathtaking sights, and having a campus situated right in the centre of all the action is definitely a highlight of the LSE experience’. 

Andrea Sisko, MSc Economics Two Year Programme

‘Hi, I’m Andrea and I am in my second year of a two year MSc in Economics. During my takeover, I showed you my daily life at LSE.’ 

Search #lseeconstudenttakeover for updates. 

March 2019

We’re thrilled to share the news that nine Department of Economics faculty members have received this year’s LSE Excellence in Education Awards: congratulations to Professor Nava Ashraf, Dr Margaret Bray, Professor Francesco Caselli, Professor Wouter Den Haan, Professor Erik Eyster, Dr Greg Fischer, Dr Francesco Nava, Dr Rachel Ngai and Professor Ricardo Reis, for their contributions to education in the Department.

The LSE Excellence in Education Awards support the School’s aspiration of creating ‘a culture where excellence in teaching is valued and rewarded on a level with excellence in research’ (LSE Strategy 2020). The awards are made on the recommendations of Heads of Department, to staff who have ‘demonstrated outstanding teaching contribution and educational leadership in their departments’. You can find the full list of this year’s winners here. 

November 2018

Daniel Sturm will become President of the Urban Economics Association (UEA) in 2020.

The UEA seeks to promote participation and excellence in academic research in urban and regional economics.

 

The Association hosts annual meetings in North America and Europe, with keynote lectures and contributed papers focused on the economics of cities, housing, real estate, local public good provision, and the distribution of economic activity in space. For more information, please see the Urban Economics Association website. 

Daniel Sturm is Professor of Economics at LSE, Executive MPA and MPP Co-Director, and an Associate at CEP and STICERD. Daniel is currently Vice President of the Urban Economics Association. 

November 2018

Congratulations to Silvana Tenreyro on being elected President of the European Economic Association (EEA). Silvana will serve as the President of the Association in 2021 after being Vice-President (2019) and President-Elect (2020).

The EEA is an international scientific body, with membership open to anyone involved or interested in economics. The Association aims to: ‘contribute to the development and application of economics as a science in Europe; improve communication and exchange between teachers, researchers and students in economics in the different European countries; develop and sponsor co-operation between teaching institutions of university level and research institutions in Europe.' The EEA aims can be found here.

Silvana Tenreyro is Professor of Economics; Programme Leader at CFM- Shifts in the World Economy and their Consequences Programme; and Programme Director at IGC- Macroeconomics Research Programme. 

October 2018

Ricardo Reis and Nava Ashraf have been elected to the European Economic Association (EEA) Council.

Nava Ashraf is Professor of Economics; Research Director at Marshall Institute; Associate at IGC- Lead Academic for IGC Zambia; and Programme Co-Director at STICERD- Psychology and Economics Programme.

Ricardo Reis is the A W Phillips Professor of Economics and a CFM Associate. 

The EEA is an international scientific body, open to anyone involved or interested in Economics. You can read the Association's aims here.

October 2018

The Department of Economics offers its warmest congratulations to Giulia Bovini, PhD student, on winning the young economist award at the annual conference of the Italian Society of Labour Economists.  Giulia was awarded the Tarantelli Young Economist Prize for her paper “Prime-age labour supply responses to the transition from DB to NDC public pension system: evidence from Italy”. 

October 2018

October 2018

Congratulations to Steve Pischke (Head of Department) and Joshua Angrist (Massachusetts Institute of Technology), who have been awarded the Chicago Booth’s Eugene Fama Prize for Outstanding Contributions to Doctoral Education, for their book Mostly Harmless Econometrics: An Empiricist’s Companion.

Awarded every three years, the Fama Prize honours Nobel Laureate Eugene F. Fama. Fama is best known for his work analysing markets and securities prices, pioneering research closely followed by academics and financial services professional alike. Fama received the Nobel Memorial Prize in Economic Sciences in 2013.

The Fama Prize is intended to ‘encourage the development and diffusion of innovative approaches to doctoral education and the publication and wide distribution of exceptional educational materials’.

Pietro Veronesi, chair of the selection committee, spoke about the decision to select Mostly Harmless Econometrics: ‘The book draws on readers’ interests and empirical curiosity to motivate the analysis, training future generations of applied researchers who can push forward our understanding of economics and finance. The Committee ultimately selected this book, as we believe it best represents the aspirations and the objectives of the Fama Prize.’

When awarded the prize, Steve Pischke said: ‘It’s a great honor to receive this prize, as Eugene Fama is such a giant in the profession. What creates a particular connection for us is the close parallels between the empirical methods we discuss in the book, and Fama’s 1969 paper with Fisher, Jensen, and Roll. That paper is considered the template for modern event studies in finance, a close cousin of the difference-in-differences methodology used in other fields.’

October 2018

Visiting Professor Ben Moll has been awarded the prestigious 2017 Bernácer Prize "for his path-breaking contributions to incorporate consumer and firm heterogeneity into macroeconomic models and use such models to study rich interactions between inequality and the macroeconomy".

Established in 2001, the Bernácer Prize is awarded annually to European economists under the age of 40, who have made outstanding contributions in the fields of macroeconomics and finance.

 

Ben Moll, who is visiting the Department of Economics (LSE) during Michaelmas Term, is Associate Professor of Economics and International Affairs at Princeton University. He gained his PhD from the University of Chicago and his Bachelor’s degree from University College London. His research has two elements: the first addresses ‘Why are some countries so much poorer than others?’ with the second looking to understand how the enormous heterogeneity is observed at micro level affects outcomes at the macro level.

Head of Economics, Professor Steve Pischke commented: “This is a wonderful choice for the prize and greatly deserved.  We are lucky to have Ben around at the department this term and are looking forward to tapping into his knowledge and many stimulating discussions.”

For further information please visit the Bernácer Prize website.

October 2018

De Standaard, 24/09/2018

Le Soir, 24/09/2018: here and here 

Related Publication

Kolsrud, Jonas, Camille Landais, Peter Nilsson, and Johannes Spinnewijn. 2018. "The Optimal Timing of Unemployment Benefits: Theory and Evidence from Sweden." American Economic Review, 108 (4-5): 985-1033. 

September 2018

Congratulations to Silvana Tenreyro who has been awarded the Carl Menger Prize for Economics. 

The German Economic Assosication (Verein für Socialpolitik) awards the Carl Menger Prize every two years for innovative, international research in the fields of monetary macroeconomics and monetary policy.

Named after the Austrian economist and co-founder of the Austrian School, the prize has been awarded jointly by the Deutsche Bundesbank, the Oesterreichische Nationalbank and the Swiss National Bank since 2014. In sponsoring this prize, the three central banks aim to foster research on monetary economics.

Achim Wambach, Chairman of the Verein für Socialpolitik, presented Silvana with the award at the association’s annual meeting in Freiburg. Mr Wambach highlighted Silvana’s particular expertise in the fields of international economics and monetary macroeconomics, adding that her work on the theory and empirical analysis of optimal currency areas and on econometrics have attracted worldwide interest. He also drew special attention to her work on the housing market. For further information, please see this Deutsche Bundesbank article.

Silvana is Professor of Economics at LSE and also sits on the Monetary Policy Committee at the Bank of England. 

September 2018

Congratulations to Daniel Reck (pictured) and Jacob Goldin, who have been awarded the IIPF Young Economists Award 2018, for their paper ‘Optimal Defaults with Normative Ambiguity’. 

The Award was established in 2008, with the aim of encouraging young scholars (authors must be under 40 years old) who present their papers at the IIPF Annual Congress.  

An award committee, headed by the Scientific Chair of the respective congress and including further members, selects those papers that stand out for their scientific quality, creativity and relevance. Up to two of these papers are chosen to be distinguished with this award.  

The International Institute of Public Finance (IIPF) is the world organization of Public Finance economists.

August 2018