Economics
Economics is about human behavior: how people choose, bargain, trade, and produce; how they organize themselves into firms and markets for these purposes; and how such activity is impacted by government intervention. Building on these foundations, economists analyze how the decision-making of many individuals combines to drive innovation, growth, trade flows, business cycles, and stock market volatility.
Tepper School economics faculty members have been at the forefront of advancing economic research and using this research to provide insight on policy and business. Nine economics faculty and students have won Nobel Prizes in the field. This tradition of excellence continues today. Our distinguished faculty encompasses editors of leading economics research journals; advisers to the Federal Reserve and to other federal and foreign government institutions; four fellows of the Econometric Society; and Nobel Prize winner Finn Kydland among its members.
Current areas of active faculty research include the design of cryptocurrencies, online platforms, and other digital marketplaces; the origin and mitigation of financial crises; network formation; tax policy reform; discrimination dynamics; migration; and climate change.
Economics Faculty in the News
U.S. News & World Report
Pittsburgh's Stunted Progress, featuring Nick Muller, Associate Professor of Economics
CBS Pittsburgh KD/PG Sunday Edition
Breaking Down the State of the Union Address, featuring Laurence Ales, Associate Professor of Economics
CBS Pittsburgh KD/PG Sunday Edition
Implications of Steel Tariffs, featuring Sevin Yeltekin, Senior Associate Dean and Professor of Economics
Recent Faculty Publications
- "The Dual Approach to Recursive Optimization: Theory and Examples" by Pavoni, N., Sleet, C., and Messner, M. (2018) in Econometrica
- "Admitting Students to Selective Education Programs: Merit, Profiling, and Affirmative Action" by Cestau, D., Epple, D., and Sieg, H. (2017) in the Journal of Political Economy
- "Mexico-U.S. Immigration: Effects of Wages and Border Enforcement" by Lessem, R. in the Review of Economic Studies
- "Screening and Adverse Selection in Frictional Markets" by Zetlin-Jones, A., Lester, B., Shourideh, A., and Venkateswaran, V. in the Journal of Political Economy
Academic Minds Research Spotlight
Does the Rise in Replacement Workers Impact Wages?
Shu Lin Wee, Assistant Professor of Economics, speaks about her research on replacement hiring and the productivity-wage gap.
What Makes Financial Markets Work?
Ariel Zetlin-Jones, Associate Professor of Economics, speaks about his research on what makes financial markets work.
Taxation and the Redistribution of Wealth
Sevin Yeltekin, Professor of Economics, Senior Associate Dean of Education, speaks about her research on policy issues related to the macroeconomy — specifically, how to redistribute through the taxation system.
How Do Natural Disasters Affect Voting Patterns?
John Gasper, Associate Teaching Professor of Economics, speaks about his research on the political economy — the intersection of economics and politics — specifically how natural disasters affect voting patterns.
Economics Community
Life at Carnegie Mellon
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Preparing for a Ph.D.
Each year the Tepper School of Business sends graduates out into the world to test their knowledge and prove what they have learned during their time on campus. However, some students are only getting started with their schoolwork. Read More