{"id":314365,"date":"2026-10-26T07:10:08","date_gmt":"2026-10-26T07:10:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-pa\/314365\/"},"modified":"2026-10-26T07:10:08","modified_gmt":"2026-10-26T07:10:08","slug":"nobel-prize-winning-economist-joins-wharton-faculty","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-pa\/314365\/","title":{"rendered":"Nobel Prize-winning economist joins Wharton faculty"},"content":{"rendered":"<p>One of the Wharton School\u2019s newest professors is a Nobel Prize-winning economist.<\/p>\n<p>Thomas Sargent has returned to Penn over five decades after serving as an economics professor in 1970 \u2014\u00a0a post he held for a year and a half. In 2011, he received the Sveriges Riksbank Nobel Prize in Economic Sciences for empirical research on cause and effect in the macroeconomy.<\/p>\n<p>In a press release, Sargent \u2014\u00a0the newly appointed Rowan Distinguished Professor of Finance \u2014\u00a0<a href=\"https:\/\/knowledge.wharton.upenn.edu\/article\/nobel-laureate-among-9-new-faculty-at-wharton\/\" target=\"_blank\" rel=\"nofollow noopener\">credited<\/a> collaborations with fellow Penn professors in the 1970s with shaping the research path that eventually earned him the Nobel Prize.<\/p>\n<p>He added that he views himself as a \u201csymbol of all the economists who put in the work leading up to the recognition.\u201d In 2011, he was recognized alongside fellow economist Christopher Sims.<\/p>\n<p>The pair carried out their research independently, but <a href=\"https:\/\/www.nobelprize.org\/prizes\/economic-sciences\/2011\/press-release\/\" target=\"_blank\" rel=\"nofollow noopener\">produced<\/a> complementary findings that has led to global policy adoption. They both developed new methods to study how economic policy affects macroeconomic variables such as gross domestic product, inflation, employment, and investments.\u00a0<\/p>\n<p class=\"font-serif\">Get the DP delivered straight to your inbox.<\/p>\n<p>  <a href=\"https:\/\/thedp.us2.list-manage.com\/subscribe?u=a96885e3aa3f8131c872ee329&amp;id=370b4800ba\" class=\"newsletter-btn font-sans no-underline\" target=\"_blank\" rel=\"noopener noreferrer nofollow\"> Sign Up<\/a><\/p>\n<p>Sargent\u2019s own research focused on how households and firms respond to economic policy and how their individual expectations influence the economy.\u00a0<\/p>\n<p>This year, he is among nine new faculty members joining Wharton. Sargent\u2019s return marks another Nobel laureate affiliated with the University.\u00a0<\/p>\n<p>Since the Nobel Foundation was created in 1901, Penn has employed 30 Nobel laureates \u2014 including eight for economics.\u00a0<\/p>\n<p>Sargent\u2019s new title stems from a $50 million dollar gift from Marc and Carolyn Rowan in 2018 \u2014 which was <a href=\"https:\/\/www.thedp.com\/article\/2018\/10\/wharton-school-upenn-donation-marc-rowan-carolyn-biggest-history\" target=\"_blank\" rel=\"nofollow noopener\">contributed<\/a> to help Wharton to attract and recruit faculty who are global leaders in their fields.<\/p>\n<p>At the time of the donation, it marked the largest single contribution in the school\u2019s history.<\/p>\n<p>At Wharton, Sargent will continue his research while teaching FNCE 9350: Foundations of Statistics and Information \u2014\u00a0a capstone course for PhD and master\u2019s students.\u00a0<\/p>\n<p>He has also joined the Finance Department\u2019s Macro Lunch Group, which brings together researchers from the Finance Department, Penn Economics Department, and the Research Department of the Federal Reserve Bank of Philadelphia.<\/p>\n<p>In the past, Sargent has held teaching and research positions at the University of Chicago, Stanford University, Harvard University, Seoul National University, and New York University \u2014\u00a0which is where he was stationed when he received the Nobel Prize.\u00a0<\/p>\n<p>He has also held roles with the Federal Reserve Bank of Minneapolis and the National Bureau of Economics Research.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"One of the Wharton School\u2019s newest professors is a Nobel Prize-winning economist. Thomas Sargent has returned to Penn&hellip;\n","protected":false},"author":2,"featured_media":314366,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[69,71,70],"class_list":["post-314365","post","type-post","status-publish","format-standard","has-post-thumbnail","category-philadelphia","tag-philadelphia","tag-philadelphia-headlines","tag-philadelphia-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/314365","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/comments?post=314365"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/314365\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media\/314366"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media?parent=314365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/categories?post=314365"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/tags?post=314365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}