Edward Christian Prescott was an American economist best known for receiving a Nobel Memorial Prize in Economics sharing it with Finn E Kydland in 2004, for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles. He was described by The New York Times as one of the leading thinkers who explained the economic shocks of the 1970s.
Prescott was born in Glens Fall, New York. He attended Swarthmore college and graduated wi... moreEdward Christian Prescott was an American economist best known for receiving a Nobel Memorial Prize in Economics sharing it with Finn E Kydland in 2004, for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles. He was described by The New York Times as one of the leading thinkers who explained the economic shocks of the 1970s.
Prescott was born in Glens Fall, New York. He attended Swarthmore college and graduated with a degree in mathematics in 1962, for his master's he went to Case Western Reserve University and Carniage Mellon University for his Ph.D in economics in 1967. After graduating Prescott taught at University of Pennsylvania from 1966 to 1971, then moved to Carniage Mellon until 1980. After that he went to teach at the University of Minnesota until 2003. On top of all that, Prescott was also an economic advisor at the Federal Reserve Bank of Minneapolis from 1981. The two research papers in Economics that won him a nobel prize also ranked him as the 19th most influential economist in the world.
