University of York Alumnus Daron Acemoglu Wins Nobel Prize for Research on Economic Prosperity and Institutions

University of York Alumnus Daron Acemoglu Wins Nobel Prize for Research on Economic Prosperity and Institutions

(IN BRIEF) University of York alumnus Daron Acemoglu has been awarded the Nobel Prize in Economic Sciences, alongside Simon Johnson and James A. Robinson, for their research on how societal institutions influence a country’s economic prosperity. Their work highlights the impact of institutional quality on growth and income disparity between nations. Acemoglu, now a professor at MIT, earned his undergraduate degree in Economics from the University of York in 1989. The University expressed immense pride in his achievements, emphasizing how his work aligns with their mission to address global challenges.

(PRESS RELEASE) YORK, 16-Oct-2024 — /EuropaWire/ — University of York graduate Daron Acemoglu has been jointly awarded the Nobel Prize in Economic Sciences alongside Simon Johnson and James A. Robinson. The trio received the prestigious award for their groundbreaking research into the role of societal institutions in shaping a nation’s prosperity and understanding the stark differences in income across countries. Their work highlights how nations with weak institutions and poor rule of law struggle to foster economic growth and progress.

Daron Acemoglu completed his undergraduate studies in Economics at the University of York in 1989 before pursuing a PhD at the London School of Economics. Born in Istanbul, Türkiye, in 1967, Acemoglu is now a professor at the Massachusetts Institute of Technology (MIT). Simon Johnson also teaches at MIT, while James A. Robinson is based at the University of Chicago.

Expressing pride in the achievement, University of York Vice-Chancellor Professor Charlie Jeffery remarked, “We are immensely proud of Professor Acemoglu’s distinguished career and his recognition with a Nobel Prize, which affirms his transformative work on prosperity and inequality.”

Professor Michael Thornton, Head of Economics and Related Studies at York, emphasized the lasting impact of Acemoglu’s research: “His work shows how historical chance events influence the development of societal institutions, shaping economic outcomes for generations. It is a testament to our department’s commitment to practical, globally-focused economics.”

Jakob Svensson, Chair of the Nobel Committee for Economic Sciences, praised the laureates for addressing one of the world’s most pressing challenges—reducing global income inequality through an understanding of institutional development.

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SOURCE: University of York