business.jpg
FPSS slide image

Edward De Bono

leading authority on Creative Thinking - Inventor of Lateral Thinking

Read more...
FPSS slide image

Robert S. Kaplan

creator of the Balanced Scorecard

Read more...
FPSS slide image

Phil Kotler

world leading marketing authority

Read more...
FPSS slide image

Michael Spendolini

the inventor of Benchmarking

Read more...
FPSS slide image

Michael Jacobides

strategic & international management expert

Read more...
FPSS slide image

Donald Sull

strategic agility in unpredictable markets

Read more...
FPSS slide image

Isaac Getz

innovation: the value of small ideas

Read more...
FPSS slide image

Roger Hallowell

service management expert

Read more...
FPSS slide image

Raphael Cohen

expert on innovation & entrepreneurship

Read more...
FPSS slide image

Gary Becker

Economics Nobel Laureate 1992

Read more...

Our Mission

To introduce the best International Management, Economics and Finance practices.
To develop innovative ideas, methodologies and management tools to support Operating Enterprises in implementing their own Corporate culture.
PRESCOTT, EDWARD C. Print E-mail

 
Edward Prescott's Mug ShotNobel Laureate in Economic Sciences 2004
W. P. Carey Chair of Economics, W. P. Carey School of Business, Arizona State University, USA
Senior monetary advisor, Minneapolis Federal Reserve Bank, USA

co-reason for the prize:

for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles

 

 
Main Topics: business cycles and economic development; economic fluctuations; general equilibrium theory and its applications; theory of differences in international incomes; financial markets
 

 
Professional Profile: Edward C. Prescott is W. P. Carey Chair of Economics in the W. P. Carey School of Business and a senior monetary advisor at the Minneapolis Federal Reserve Bank.
Prescott is known for his seminal work in policy analysis, business cycles, economic development, general equilibrium theory, and finance. His examination of time inconsistency in the context of government policy making has helped shape the debate over the effectiveness of rules versus discretion in the conduct of economic policy. His work on business cycles has recast the way economists think about economic fluctuations, arguing that they represent the optimal response of the economy to various shocks.

He is a great economist - said Robert Lucas, Nobel Prize in 1995 and Prescott's former colleague - he gave an extraordinary contribution to the economic thinking about the economic theory and its connections to reality


Prescott was lauded for a lifetime of original thinking that has addressed some of the most important long-standing questions in macroeconomics. He was awarded the 2004 Nobel Prize together with Finn Kydland (Carnegie Mellon University and the University of California), and received numerous prizes during his career, among which the Erwin Plein Nemmers Prize in Economics in 2003 and an academic award from the "Tor Vergata" University of Rome in 2002.
He is currently a fellow of the American Academy of Arts and Science and the Econometric Society. He has held a number of visiting professorships at universities throughout the United States and Europe.
 

 

Education:
  • Ph.D., Economics , Carnegie-Mellon University, 1967
 
  • M.S., Operations Research, Case-Western Reserve University, 1963
 
  • B.A., Mathematics, Swarthmore College, 1962

 

 

Selected Works:
  • E. C. Prescott, Barriers to Riches, with S.L. Parente, Cambridge MIT Press, 2000
 
  • E. C. Prescott, Business Cycle Theory: Methods and Problems, in the International Institute for Economic Research XI Workshop Proceedings, Cycle, Growth and Technological Change, August 1998
 
  • E. C. Prescott, Economic Growth and Business Cycles, with T. F. Cooley, in Frontiers of Business Cycle Research, Princeton University Press, 1995
 
  • E. C. Prescott, Banking in Computable General Equilibrium Economics, with J. Diaz-Gimenez, T. Fitzgerald and F. Alvarez, in Journal of Economic Dynamics and Control, July/October 1992