Macroeconomics, general equilibrium, business cycles, monetary policy
Edward C. Prescott is Professor of Economics at Arizona State University and is the W. P. Carey Chair in Economics in the W. P. Carey School of Business. He has previously held faculty positions at the University of Pennsylvania, Carnegie Mellon University, the University of Minnesota, and The University of Chicago. He is a Senior Monetary Analyst at the Minneapolis Federal Reserve Bank.
He received his B.A. in mathematics from Swarthmore College in 1962, his M.S in Operations Research from Case-Reserve University in 1963, and his Ph.D. in economics from Carnegie Mellon University in 1967.
He is an aggregate economist theorist who develops and applies dynamic economic theory to problems in financial economics, economic fluctuations, public finance, growth and development, and international economics areas.
He and Finn Kydland were jointly awarded the 2004 Nobel Prize in Economics "for their contributions to dynamic macroeconomics: the time consistency of economic policy and the driving forces behind business cycles."