Works of Harry Markowitz, Merton Miller and William Sharpe, though critisised for their restrictive assumptions, continue to guide financial markets...

Trygve Haavelmo’s fundamental contribution was in looking at economic problems in terms of probability, which had a major impact on the development of...

The Nobel prize in economics in 1987 was awarded to Robert Solow for his contributions to the theory of economic growth. Solow was at the...

James McGill Buchanan used economic tools to analyse constitutionally bound political decision-making that eventually found application in EU...

Franco Modigliani, a Neo-Keynesian economist, played a major role in establishing the ‘life-cycle hypothesis’ which explains the level of savings in...

John Richard Nicholas Stone’s work was underpinned by a Keynesian theoretical framework — the application of which reached internationally...

Gerard Debreu’s axiomatization approach established coherent proof of general equilibrium theory, paving way for further research but it also...

Through his extensive contribution in applied research, George Stigler institutionalised information in neoclassical framework and integrated...

James Tobin showed how individual decisions determine equilibrium price and interest rate, and how fluctuations in financial markets get transmitted...

Lawrence Klein's models laid the ground for quantitative analysis of economic policies — at the same time — defined the contours of econometrics

Theodore Schultz’s human capital theory and Arthur Lewis’ dual economy shifted the growth discourse towards developing countries with an intrinsic...

Simon’s multidisciplinary approach challenged the neoclassical assumption of profit maximisation and redefined decision-making as an effort to achieve...