Nobel laureates and top economists to teach economics summer school


Nobel laureates and top economists to teach economics summer school at Israel Institute for Advanced Studies

JerusalemTwo Nobel Prize winners in economics will join with other researchers and approximately 100 top economics students at the 23rd Jerusalem Summer School in Economic Theory from June 18 to 27. Hosted by The Hebrew University of Jerusalem's Israel Institute for Advanced Studies, the School will focus on "Intertemporal Public Economics"  — the effect of current consumption on the future welfare of society — and will explore such questions as:

— How can we ensure a viable social security system?

— What can we do to mitigate and adapt to the effects of climate change?

— At what rate should we discount the costs and benefits of future public goods?

— Should we tax capital and, if so, how much?

A complete program can be seen at


The Institute hosts five short-term Schools annually, in the fields of Theoretical Physics, Life Sciences, Economic Theory, Jewish Studies and Comparative Religion, and Mathematics.Considered one of the world's most important events for doctoral students in economics, the economics summer school will bring togetherthe 2007 Nobel laureate in economics, School director Prof. Eric Maskin from Harvard University, and the 1972 Nobel laureate in economics, Prof. Kenneth Arrow, who founded the School and led it first for its first 18 years.


Participating lecturers include Prof. Sir Partha Dasgupta (University of Cambridge), who on Wednesday, June 20, will deliver the 2012 Arrow Lecture, “Sustainable development and the drivers of personal consumption”; Prof. Emmanuel Farhi (Harvard University);  Prof. Roger Guesnerie (Paris School of Economics); Prof. Ilya Segal (Stanford University); Prof. Eytan Sheshinski (the Hebrew University); and Prof. Aleh Tsyvinski (Yale University).  

According to the School's co-director, Prof. Eyal Winter of The Hebrew University's Economics Department, the question of how society consumes over time is relevent to such currect events as the protests in Greece, which are inter-generational in nature, with the younger generation defying their elders who borrowed money that the younger generation are now expected to pay.

The School is hosted by the Israel Institute for Advanced Studies with support from the Bank of Israel and The Hebrew University’s Center for the Study of RationalityDepartment of Economics, and Jerusalem School of Business Administration.