About the Department
Our world-class faculty focus their research in two main areas. In ecological economics, we analyze how the global economy and local economies can and will change in the future, reflecting social values and economic policies for dealing with global environmental change. In the economics of technological change, we probe the forces driving technology creation and diffusion, the transfer of technology from universities to firms, the evolution of industries, technology evaluation and development, and hence the well-being of the world's people. In both areas, we pay close attention to empirical facts, ensuring relevance for our models and analyses.
Students will derive several benefits from the department's courses. In a leading technological university, budding engineers and scientists can easily gain great skill in their field yet lack the knowledge to understand and manage, in their companies and in the broader economy, the critical processes of technological change and competition. Similarly, all of us need to understand and deal with the environmental and social consequences associated with global economic development and growth based on our values and the choice, as a society, of our future policies. Our courses in economics impart both general knowledge - of microeconomic and macroeconomic processes and of tools for economic analysis - and specific knowledge relevant to informed decision-making about the environment and R&D processes. A deeper understanding of economics helps you move from being buffeted by forces outside your control to understanding and influencing the forces around you.
Ph.D. students have the opportunity to work closely with distinguished faculty. We maintain a small program in which students are expected to carry out original research and are provided with the skills and attention to become leaders. Our Ph.D. students often publish several papers before graduation, and students' papers have appeared in important journals such as Ecological Economics, the Journal of Economic Behavior and Organization and the Economic Journal. Our Ph.D. program in Ecological Economics was the first to be established anywhere in the world, and it provides an opportunity to leap to the state of the art in this crucial field.