Lawrence R. Klein


 Lawrence R. Klein

Lawrence R. Klein is an influential American economist in the history. He was born in September 14, 1920. He studied in University of California, Berkeley (B.A), Oxford University (M.A.), and MIT (Ph.D.). 

He was the one who initially developed macroeconomics models. He also got a Novel Memorial Prize in Economic Sciences for making computer  models to forecast business fluctuations and economic policies. Not only he was acknowledged by many economists regarding his research works, but also he was an active and powerful professor in many prestigious universities such as University of Pennsylvania and University of Chicago. He was called Benjamin Franklin professor in University of Pennsylvania, where he taught Economics from 1958 to 1991. After he retired from his teaching, he kept researching. And, he was the president of the American Economics Association and created various Economics institutions to further help studying and researching in economics. 

I didn't know Dr. Klein when I was assigned him as my alias, but now I know that he is one of the the most famous American economists and the fact that he had incredibly contributed to economic research and taught many future economists during his life.

Comments

  1. Professor ArvanSeptember 6, 2019 at 11:21 AM

    At the time I was in graduate school, the MIT-FRB econometric model was the primary tool used for macroeconomic forecasting. Klein was the designer of that model. Macroeconomic forecasting is out of the scope of our course, except to note that making predictions of the future is necessary to guide organization decisions and if there is a common way for organizations to make macroeconomics predictions that is more likely to bring coherence to their decision making.

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