Thomas Sargent Biography

Questions regarding the function of government regulation and policy are being raised often in the face of the current economic crisis. Consider listening to Tom Sargent if you're seeking solutions. For his groundbreaking work in macroeconomics over the past 40 years, Tom just earned the 2011 Nobel Prize in Economic Sciences. Tom is one of the most well-known economists of the present day and one of the pioneers of both the freshwater economics movement and the rational expectations model. At New York University, where he holds the W.R. Berkley Professorship of Economics and Business, he is the author of several important publications and papers, including the venerable economic textbooks "Macroeconomic Theory" and "Dynamic Economic Theory." He co-wrote "Rational Expectations Econometrics" with Lars Peter Hansen, the 2013 Nobel Laureate. The key finding of rational expectations is that individuals make decisions based on a realistic mental model of the economy and, most importantly, based on their comprehension of the economic policies of the government. Because consumers and investors change their behavior anytime the government changes its policies, it follows that these policies seldom have the desired impact. It's a realization that transformed economics in the post-Keynesian period and still rules economic thought today. Both Tom's statistical insights and his warmth and sensitivity as a mentor are famous. Both are available to you through his lectures. It helps to have a guide in these unsettling times, and Tom is one of the finest.

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