Economist Who Calculates Value of Great Teaching Wins Top Prize

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Economist Who Calculates Value of Great Teaching Wins Top Prize

Apr 12, 2013

EDUCATIONAL ECONOMICS: One of the most coveted prizes among economists is the John Bates Clark prize, awarded to the most influential economist under the age of 40. Notable past winners include the likes of Larry Summers, Paul Krugman, Martin Feldstein, and Paul Samuelson--you get the idea. (For a profession that doesn't always accurate predict the economic trends, economists have been quite prescient about identifying their leading young thinkers.)

This year's prize goes to Harvard University economist, Raj Chetty, who's a mere 33 years old. He's written plenty of papers on tax policies and their implications. But he's also doing some powerful social research including on education namely:

How Does Your Kindergarten Classroom Affect Your Earnings? Evidence from Project STAR

The Long-Term Impacts of Teachers: Teacher Value-Added and Student Outcomes in Adulthood.”

His answers won't surprise: great teachers matter greatly. What's nice to see, however, is how seriously economists are taking this kind of work.

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