Eric Maskin
Eric Stark Maskin is an American economist and 2007 Nobel laureate recognized with Leonid Hurwicz and Roger Myerson "for having laid the foundations of mechanism design theory". He is the Adams University Professor at Harvard University; until 2011, he was the Albert O. Hirschman Professor of Social Science at the Institute for Advanced Study, a visiting lecturer with the rank of professor at Princeton University. Maskin was born in New York City on December 12, 1950, into a Jewish family, spent his youth in Alpine, New Jersey, he graduated from Tenafly High School in Tenafly, New Jersey, in 1968, attended Harvard University, where he earned A. B.. He continued to earn a Ph. D. in applied mathematics at the same institution. In 1975-76, he was a visiting student at Cambridge University. In 1976, after earning his doctorate, Maskin became a research fellow at Jesus College, Cambridge University. In the following year, he joined the faculty at Massachusetts Institute of Technology. In 1985 he returned to Harvard as the Louis Berkman Professor of Economics, where he remained until 2000.
That year, he moved to the Institute for Advanced Study in New Jersey. In addition to his position at the Princeton Institute, Maskin is the director of the Jerusalem Summer School in Economic Theory at The Institute for Advanced Studies at The Hebrew University of Jerusalem. In 2010, he was conferred an Honorary Doctoral Degree in Economics from The University of Cambodia. In 2011, Maskin has returned to Harvard again. Maskin has worked in diverse areas of economic theory, such as game theory, the economics of incentives, contract theory, he is well known for his papers on mechanism design/implementation theory and dynamic games. His current research projects include comparing different electoral rules, examining the causes of inequality, studying coalition formation, he is a Fellow of the American Academy of Arts and Sciences, Econometric Society, the European Economic Association, a Corresponding Fellow of the British Academy. He was president of the Econometric Society in 2003. In September 2017, Maskin received the title of HEC Paris Honoris Causa Professor.
Maskin suggested. Software and computer industries have been innovative despite weak patent protection, he argued. Innovation in those industries has been sequential and complementary, so competition can increase firms' future profits. In such a dynamic industry, "patent protection may reduce overall innovation and social welfare". A natural experiment occurred in the 1980s when patent protection was extended to software", wrote Maskin with co-author James Bessen. "Standard arguments would predict that R&D intensity and productivity should have increased among patenting firms. Consistent with our model, these increases did not occur". Other evidence supporting this model includes a distinctive pattern of cross-licensing and a positive relationship between rates of innovation and firm entry. List of economists Mechanism design Maskin Nobel Prize lecture Profile in The Daily Princetonian Tabarrok, Alex. "What is Mechanism Design? Explaining the research that won the 2007 Nobel Prize in Economics".
Reason Magazine. Retrieved 2007-12-11. Videos of Eric Maskin speaking in plain English Maskin, Eric Stark. "Prize Lecture by Eric S. Maskin." Nobel Media AB. Nobel Prize, 2007. Web. 27 Dec. 2015. <http://www.nobelprize.org/mediaplayer/index.php?id=789>. Eric S. Maskin delivered his Prize Lecture on 8 December 2007 at Stockholm University, he was introduced by Chairman of the Economics Prize Committee. Credits: Ladda Productions AB. Copyright © Nobel Web AB 2007 Maskin, Eric Stark. "Eric Maskin - An Introduction to Mechanism Design - Warwick Economics Summit 2014." Warwick Economics Summit on YouTube. Warwick Economics Summit, 1 June 2014. Web. 27 Dec. 2015. <https://www.youtube.com/watch?v=XSVoeETsEcU>. Professor Eric Maskin giving the keynote address on'How to Make the Right Decisions without knowing People's Preferences: An Introduction to Mechanism Design' at the Warwick Economics Summit 2014. Maskin, Eric Stark. "Eric Maskin - Introductory Lecture." The Institute for Advanced Studies of Jerusalem on YouTube.
The Institute for Advanced Studies of Jerusalem, 24 June 2014. Web. 27 Dec. 2015. <https://www.youtube.com/watch?v=RBZGBk3N2Ok>. Eric Maskin - Introductory Lecture Maskin, Eric Stark. "Eric Maskin: Mechanism Design: How to Implement Social Goals." UCI Media Services on YouTube. UCI Media Services, 22 Aug. 2014. Web. 27 Dec. 2015. <https://youtu.be/AtRmnTeIPio>. Eric Maskin, Dept. of Economics, Princeton University “Mechanism Design: How to Implement Social Goals” Serious Science. "Mechanism Design Theory - Eric Maskin." Serious Science on YouTube. Http://serious-science.org, 23 Dec. 2013. Web. 27 Dec. 2015. <https://youtu.be/Y645BrYSi74>
Economist
An economist is a practitioner in the social science discipline of economics. The individual may study and apply theories and concepts from economics and write about economic policy. Within this field there are many sub-fields, ranging from the broad philosophical theories to the focused study of minutiae within specific markets, macroeconomic analysis, microeconomic analysis or financial statement analysis, involving analytical methods and tools such as econometrics, economics computational models, financial economics, mathematical finance and mathematical economics; the professionalization of economics, reflected in academia, has been described as "the main change in economics since around 1900." Economists debate the path. It is a debate between a scholastic orientation, focused on mathematical techniques, a public discourse orientation, more focused on communicating to lay people pertinent economic principles as they relate to public policy. Surveys among economists indicate a preference for a shift toward the latter.
Most major universities have an economics faculty, school or department, where academic degrees are awarded in economics. Getting a PhD in economics takes six years, on average, with a median of 5.3 years. The Nobel Memorial Prize in Economics, established by Sveriges Riksbank in 1968, is a prize awarded to economists each year for outstanding intellectual contributions in the field of economics; the prize winners are announced in October every year. They receive their awards on the anniversary of Alfred Nobel's death. Economists work in many fields including academia, government and in the private sector, where they may "...study data and statistics in order to spot trends in economic activity, economic confidence levels, consumer attitudes. They assess this information using advanced methods in statistical analysis, computer programming they make recommendations about ways to improve the efficiency of a system or take advantage of trends as they begin."In contrast to regulated professions such as engineering, law or medicine, there is not a required educational requirement or license for economists.
In academia, to be called an economist requires a Ph. D. degree in Economics. In the US government, on the other hand, a person can be hired as an economist provided that they have a degree that included or was supplemented by 21 semester hours in economics and three hours in statistics, accounting, or calculus. A professional working inside of one of many fields of economics or having an academic degree in this subject is considered to be an economist. In addition to government and academia, economists are employed in banking, accountancy, marketing, business administration and non- or not-for profit organizations. Politicians consult economists before enacting economic policy. Many statesmen have academic degrees in economics. Economics graduates are employable in varying degrees depending on the regional economic scenario and labour market conditions at the time for a given country. Apart from the specific understanding of the subject, employers value the skills of numeracy and analysis, the ability to communicate and the capacity to grasp broad issues which the graduates acquire at the university or college.
Whilst only a few economics graduates may be expected to become professional economists, many find it a base for entry into a career in finance – including accounting, insurance and banking, or management. A number of economics graduates from around the world have been successful in obtaining employment in a variety of major national and international firms in the financial and commercial sectors, in manufacturing, retailing and IT, as well as in the public sector – for example, in the health and education sectors, or in government and politics. Small numbers go on to undertake postgraduate studies, either in economics, teacher training or further qualifications in specialist areas. In Brazil, unlike most countries in the world where the profession is not regulated, the profession of Economist is regulated by Law. 1411 of August 13, 1951. The professional designation of economist, according to the said law, is exclusive to the bachelors in economics graduates in Brazil. According to the United States Department of Labor, there were about 15,000 non-academic economists in the United States in 2008, with a median salary of $83,000 the top ten percent earning more than $147,040 annually.
Nearly 135 colleges and universities grant around 900 new Ph. D.s every year. Incomes are highest for those in the private sector, followed by the federal government, with academia paying the lowest incomes; as of January 2013, PayScale.com showed Ph. D. economists' salary ranges as follows: all Ph. D. economists, $61,000 to $160,000. D. corporate economists, $71,000 to $207,000. The largest single professional grouping of economists in the UK are the more than 1000 members of the Government Economic Service, who work in 30 government departments and agencies. Analysis of destination surveys for economics graduates from a number of selected top schools of economics in the United Kingdom, shows nearly 80 percent in employment six months after graduation – with a wide range of roles and employers, including regional and international organisations, across many sectors; this figure compares favourably with the national picture, with 64 percent of economics graduates in employment. Some current we
Harvard University
Harvard University is a private Ivy League research university in Cambridge, with about 6,700 undergraduate students and about 15,250 postgraduate students. Established in 1636 and named for its first benefactor, clergyman John Harvard, Harvard is the United States' oldest institution of higher learning, its history and wealth have made it one of the world's most prestigious universities; the Harvard Corporation is its first chartered corporation. Although never formally affiliated with any denomination, the early College trained Congregational and Unitarian clergy, its curriculum and student body were secularized during the 18th century, by the 19th century, Harvard had emerged as the central cultural establishment among Boston elites. Following the American Civil War, President Charles W. Eliot's long tenure transformed the college and affiliated professional schools into a modern research university. A. Lawrence Lowell, who followed Eliot, further reformed the undergraduate curriculum and undertook aggressive expansion of Harvard's land holdings and physical plant.
James Bryant Conant led the university through the Great Depression and World War II and began to reform the curriculum and liberalize admissions after the war. The undergraduate college became coeducational after its 1977 merger with Radcliffe College; the university is organized into eleven separate academic units—ten faculties and the Radcliffe Institute for Advanced Study—with campuses throughout the Boston metropolitan area: its 209-acre main campus is centered on Harvard Yard in Cambridge 3 miles northwest of Boston. Harvard's endowment is worth $39.2 billion, making it the largest of any academic institution. Harvard is a large residential research university; the nominal cost of attendance is high, but the university's large endowment allows it to offer generous financial aid packages. The Harvard Library is the world's largest academic and private library system, comprising 79 individual libraries holding over 18 million items; the University is cited as one of the world's top tertiary institutions by various organizations.
Harvard's alumni include eight U. S. presidents, more than thirty foreign heads of state, 62 living billionaires, 359 Rhodes Scholars, 242 Marshall Scholars. As of October 2018, 158 Nobel laureates, 18 Fields Medalists, 14 Turing Award winners have been affiliated as students, faculty, or researchers. In addition, Harvard students and alumni have won 10 Academy Awards, 48 Pulitzer Prizes and 108 Olympic medals, have founded a large number of companies worldwide. Harvard was established in 1636 by vote of the Great and General Court of the Massachusetts Bay Colony. In 1638, it acquired British North America's first known printing press. In 1639, it was named Harvard College after deceased clergyman John Harvard, an alumnus of the University of Cambridge, who had left the school £779 and his scholar's library of some 400 volumes; the charter creating the Harvard Corporation was granted in 1650. A 1643 publication gave the school's purpose as "to advance learning and perpetuate it to posterity, dreading to leave an illiterate ministry to the churches when our present ministers shall lie in the dust".
It offered a classic curriculum on the English university model—many leaders in the colony had attended the University of Cambridge—but conformed to the tenets of Puritanism. It was never affiliated with any particular denomination, but many of its earliest graduates went on to become clergymen in Congregational and Unitarian churches; the leading Boston divine Increase Mather served as president from 1685 to 1701. In 1708, John Leverett became the first president, not a clergyman, marking a turning of the college from Puritanism and toward intellectual independence. Throughout the 18th century, Enlightenment ideas of the power of reason and free will became widespread among Congregational ministers, putting those ministers and their congregations in tension with more traditionalist, Calvinist parties; when the Hollis Professor of Divinity David Tappan died in 1803 and the president of Harvard Joseph Willard died a year in 1804, a struggle broke out over their replacements. Henry Ware was elected to the chair in 1805, the liberal Samuel Webber was appointed to the presidency of Harvard two years which signaled the changing of the tide from the dominance of traditional ideas at Harvard to the dominance of liberal, Arminian ideas.
In 1846, the natural history lectures of Louis Agassiz were acclaimed both in New York and on the campus at Harvard College. Agassiz's approach was distinctly idealist and posited Americans' "participation in the Divine Nature" and the possibility of understanding "intellectual existences". Agassiz's perspective on science combined observation with intuition and the assumption that a person can grasp the "divine plan" in all phenomena; when it came to explaining life-forms, Agassiz resorted to matters of shape based on a presumed archetype for his evidence. This dual view of knowledge was in concert with the teachings of Common Sense Realism derived from Scottish philosophers Thomas Reid and Dugald Stewart, whose works were part of the Harvard curriculum at the time; the popularity of Agassiz's efforts to "soar with Plato" also derived from other writings to which Harvard students
Game theory
Game theory is the study of mathematical models of strategic interaction between rational decision-makers. It has applications in all fields of social science, as well as in computer science, it addressed zero-sum games, in which one person's gains result in losses for the other participants. Today, game theory applies to a wide range of behavioral relations, is now an umbrella term for the science of logical decision making in humans and computers. Modern game theory began with the idea regarding the existence of mixed-strategy equilibria in two-person zero-sum games and its proof by John von Neumann. Von Neumann's original proof used the Brouwer fixed-point theorem on continuous mappings into compact convex sets, which became a standard method in game theory and mathematical economics, his paper was followed by the 1944 book Theory of Games and Economic Behavior, co-written with Oskar Morgenstern, which considered cooperative games of several players. The second edition of this book provided an axiomatic theory of expected utility, which allowed mathematical statisticians and economists to treat decision-making under uncertainty.
Game theory was developed extensively in the 1950s by many scholars. It was explicitly applied to biology in the 1970s, although similar developments go back at least as far as the 1930s. Game theory has been recognized as an important tool in many fields; as of 2014, with the Nobel Memorial Prize in Economic Sciences going to game theorist Jean Tirole, eleven game theorists have won the economics Nobel Prize. John Maynard Smith was awarded the Crafoord Prize for his application of game theory to biology. Early discussions of examples of two-person games occurred long before the rise of modern, mathematical game theory; the first known discussion of game theory occurred in a letter written by Charles Waldegrave, an active Jacobite, uncle to James Waldegrave, a British diplomat, in 1713. In this letter, Waldegrave provides a minimax mixed strategy solution to a two-person version of the card game le Her, the problem is now known as Waldegrave problem. In his 1838 Recherches sur les principes mathématiques de la théorie des richesses, Antoine Augustin Cournot considered a duopoly and presents a solution, a restricted version of the Nash equilibrium.
In 1913, Ernst Zermelo published Über eine Anwendung der Mengenlehre auf die Theorie des Schachspiels. It proved that the optimal chess strategy is determined; this paved the way for more general theorems. In 1938, the Danish mathematical economist Frederik Zeuthen proved that the mathematical model had a winning strategy by using Brouwer's fixed point theorem. In his 1938 book Applications aux Jeux de Hasard and earlier notes, Émile Borel proved a minimax theorem for two-person zero-sum matrix games only when the pay-off matrix was symmetric. Borel conjectured that non-existence of mixed-strategy equilibria in two-person zero-sum games would occur, a conjecture, proved false. Game theory did not exist as a unique field until John von Neumann published the paper On the Theory of Games of Strategy in 1928. Von Neumann's original proof used Brouwer's fixed-point theorem on continuous mappings into compact convex sets, which became a standard method in game theory and mathematical economics, his paper was followed by his 1944 book Theory of Games and Economic Behavior co-authored with Oskar Morgenstern.
The second edition of this book provided an axiomatic theory of utility, which reincarnated Daniel Bernoulli's old theory of utility as an independent discipline. Von Neumann's work in game theory culminated in this 1944 book; this foundational work contains the method for finding mutually consistent solutions for two-person zero-sum games. During the following time period, work on game theory was focused on cooperative game theory, which analyzes optimal strategies for groups of individuals, presuming that they can enforce agreements between them about proper strategies. In 1950, the first mathematical discussion of the prisoner's dilemma appeared, an experiment was undertaken by notable mathematicians Merrill M. Flood and Melvin Dresher, as part of the RAND Corporation's investigations into game theory. RAND pursued the studies because of possible applications to global nuclear strategy. Around this same time, John Nash developed a criterion for mutual consistency of players' strategies, known as Nash equilibrium, applicable to a wider variety of games than the criterion proposed by von Neumann and Morgenstern.
Nash proved that every n-player, non-zero-sum non-cooperative game has what is now known as a Nash equilibrium. Game theory experienced a flurry of activity in the 1950s, during which time the concepts of the core, the extensive form game, fictitious play, repeated games, the Shapley value were developed. In addition, the first applications of game theory to philosophy and political science occurred during this time. In 1979 Robert Axelrod tried setting up computer programs as players and found that in tournaments between them the winner was a simple "tit-for-tat" program that cooperates on the first step on subsequent steps just does whatever its opponent did on the previous step; the same winner was often obtained by natural selection. In 1965, Reinhard Selten introduced his solution concept of subgame perfect equilibria, which further refined the Nash equilibrium. In 1994 Nash and Harsanyi became Economics Nobel Laureates for their contributi
Bielefeld University
Bielefeld University is a university in Bielefeld, Germany. Founded in 1969, it is one of the country's newer universities, considers itself a "reform" university, following a different style of organization and teaching than the established universities. In particular, the university aims to "re-establish the unity between research and teaching", so all its faculty teach courses in their area of research; the university stresses a focus on interdisciplinary research, helped by the architecture, which encloses all faculties in one great structure. It is among the first of the German universities to switch some faculties to Bachelor/Master-degrees as part of the Bologna process. Bielefeld University has started an extensive multi-phase modernisation project, to be completed by 2025. A total investment of more than 1 billion euros has been planned for this undertaking; the university is located in the west of Bielefeld next to the Teutoburg Forest. The main building, which houses all the faculties and institutes, as well as the large library, is a functional concrete structure, typical of the 1960s.
Intercity trains running between Cologne/Bonn and Berlin stop at Bielefeld, the university can be accessed via city tram in about 10 minutes from the city center—or in about 15 minutes by car. The nearest airport, Paderborn/Lippstadt, is about 50 kilometres southeast of Bielefeld. Bielefeld University Library occupies most of the first floor of the main university building and contains over 2.2 million volumes. It is open every day of the year, from 08:00 until 01:00 Monday to Friday, from 09:00 to 22:00 during weekends and public holidays; the library's projects include the development of tools to improve access to electronic resources. It works with commercial system suppliers to meet the needs of academic libraries—collaborations that have resulted in developments such as BASE, by which metadata is collected from scientific repository servers and indexed, along with data from selected web sites and data collections, using the Solr framework. Bielefeld University is known for its faculty of sociology.
It is associated with Norbert Niklas Luhmann, who were professors there. The faculty of history launched the "Bielefeld School" of Social History under Hans-Ulrich Wehler, while the Laborschule and Center for Interdisciplinary Research are projects of the faculty of educational science; the university has the following faculties: Faculty of Biology Faculty of Chemistry Faculty of History and theologyDepartment of History Department of Philosophy Department of Theology Faculty of Public Health Faculty of Linguistics and LiteratureDepartment of Art and Music Faculty of Mathematics Faculty of Educational Science Faculty of Physics Faculty of Psychology and Sports Faculty of Law Faculty of Sociology Faculty of Technology Faculty of Business Administration and Economics In 2017, Bielefeld University was ranked 22nd in the world by the Times Higher Education Young University Rankings, among the top 300 universities by the traditional Times Higher Education World University Rankings. In the THE ranking of 2011 Bielefeld is placed among the top 50 universities in engineering and technology.
In terms of mathematics, the Academic Ranking of World Universities of 2018 places Bielefeld among the four best universities of Germany and 101-150 best universities in the world. The German Center for Higher Education Development Excellence Ranking, which measures academic performance of European graduate programs in biology, chemistry and physics, placed Bielefeld in the excellence group for mathematics. Center for Interdisciplinary Research Institute for interdisciplinary research on conflict and violence CeBiTec - Center for Biotechnology CITEC - Cognitive Interaction Technology Research Institute for Cognition and Robotics Interdisciplinary Centre of Women's and Gender Studies Institute for the Simulation of Complex Systems Institute of Mathemathical Economics Research Centre for Mathematical Modelling Teacher Training Centre The Oberstufen-Kolleg is a UNESCO Project School and as such it aims for international understanding and cooperation. Since 1998, the Kolleg has worked together with the German School of Guayaquil in a charitable project to help in the development of the town of Daular, which project won a United Nations Award in 2006/2007 for its international concept.
Bielefeld University was one of the centers of student protests in the fight against the introduction of tuition fees. In the course of the protests, the central hall and the university president's office were occupied by protesting students for over a month. In a vote organised by the AStA and the students parliament, about 94 percent of the participants voted against the introduction of tuition fees, although only 22 percent of the students cast their vote; this is comparable to similar results at other German universities. In its session of July 12, 2006, the university senate decided to introduce tuition fees of €500 per semester, beginning in 2007. In August 2006, a universal key for the university went missing during a senate session. After that, multiple cases of arson and defacement of university property were reported. University president Dieter Timmermann was a particular target of these attacks; the cost of the damage due to the replacement of thousands of locks, was estimated at over a million euros.
Open access in Germany Universität Bielefeld Official site Official site of the Oberstufen-Kolleg of the University of Bielefeld
Northwestern University
Northwestern University is a private research university based in Evanston, United States, with other campuses located in Chicago and Doha and academic programs and facilities in Miami, Florida. C.. Along with its undergraduate programs, Northwestern is known for its Kellogg School of Management, Pritzker School of Law, Feinberg School of Medicine, Bienen School of Music, Medill School of Journalism, McCormick School of Engineering and Applied Science. Northwestern is a large research university with a comprehensive doctoral program, attracting over $700 million in sponsored research each year. Northwestern has the ninth-largest university endowment in the United States, valued at $11.014 billion as of August 2018. The University's former and present faculty and alumni include 19 Nobel Prize laureates, 38 Pulitzer Prize winners, six MacArthur Genius Fellows, 16 Rhodes Scholars, 65 members of the American Academy of Arts and Sciences and two Supreme Court Justices. Northwestern's School of Communication is a leading producer of Academy Award, Emmy Award and Tony Award–winning actors, playwrights and directors.
Northwestern was founded in 1851 by John Evans, for whom the city of Evanston is named, eight other lawyers and Methodist leaders. Its founding purpose was to serve the Old Northwest Territory, an area that includes the states of Ohio, Illinois, Michigan and parts of Minnesota. Instruction began in 1855 and women were admitted in 1869. Today, the main campus is a 240-acre parcel in Evanston, along the shores of Lake Michigan 12 miles north of downtown Chicago; the university's law and professional schools are located on a 25-acre campus in Chicago's Streeterville neighborhood. In 2008, the university opened a campus in Education City, Qatar with programs in journalism and communication. In 2016, Northwestern opened its San Francisco space at 44 Montgomery St. which hosts journalism and marketing programs. The University is a founding member of the Big Ten Conference and remains the only private university in the conference; the Northwestern Wildcats compete in 19 intercollegiate sports in the NCAA's Division I Big Ten Conference.
The foundation of Northwestern University can be traced to a meeting on May 31, 1850, of nine prominent Chicago businessmen, Methodist leaders, attorneys who had formed the idea of establishing a university to serve what had been known from 1787 to 1803 as the Northwest Territory. On January 28, 1851, the Illinois General Assembly granted a charter to the Trustees of the North-Western University, making it the first chartered university in Illinois; the school's nine founders, all of whom were Methodists, knelt in prayer and worship before launching their first organizational meeting. Although they affiliated the university with the Methodist Episcopal Church, they favored a non-sectarian admissions policy, believing that Northwestern should serve all people in the newly developing territory by bettering the economy in Evanston. John Evans, for whom Evanston is named, bought 379 acres of land along Lake Michigan in 1853, Philo Judson developed plans for what would become the city of Evanston, Illinois.
The first building, Old College, opened on November 5, 1855. To raise funds for its construction, Northwestern sold $100 "perpetual scholarships" entitling the purchaser and his heirs to free tuition. Another building, University Hall, was built in 1869 of the same Joliet limestone as the Chicago Water Tower built in 1869, one of the few buildings in the heart of Chicago to survive the Great Chicago Fire of 1871. In 1873 the Evanston College for Ladies merged with Northwestern, Frances Willard, who gained fame as a suffragette and as one of the founders of the Woman's Christian Temperance Union, became the school's first dean of women. Northwestern admitted its first female students in 1869, the first woman was graduated in 1874. Northwestern fielded its first intercollegiate football team in 1882 becoming a founding member of the Big Ten Conference. In the 1870s and 1880s, Northwestern affiliated itself with existing schools of law and dentistry in Chicago. Northwestern University Pritzker School of Law is the oldest law school in Chicago.
As the university increased in wealth and distinction, enrollments grew, these professional schools were integrated with the undergraduate college in Evanston. The Association of American Universities invited Northwestern to become a member in 1917. Under Walter Dill Scott's presidency from 1920 to 1939, Northwestern began construction of an integrated campus in Chicago designed by James Gamble Rogers to house the professional schools. In 1933 a proposal to merge Northwestern with the University of Chicago rejected. Northwestern became one of the first six universities in the United States to establish a Naval Reserve Officers Training Corps in the 1920s. Northwestern played host to the first-ever NCAA Men's Division I Basketball Championship game in 1939 in the original Patten Gymnasium, demolished and relocated farther north along with the Dearborn Observatory to make room for the Technological Institute. After the golden years of the 1920s, the Great Depression in the United States hit Northwestern h
College of the University of Chicago
The College of the University of Chicago is the university's sole undergraduate institution and one of its oldest components, emerging contemporaneously with the university's Hyde Park campus in 1892. Instruction is provided by faculty from across all graduate divisions and schools for its 6,300 students, but the College retains a select group of young, proprietary scholars who teach its core curriculum offerings. Unlike many major American research universities, the College is small in comparison to the University's graduate divisions, with graduate students outnumbering undergraduates at a 2:1 ratio; the College is most notable for its core curriculum pioneered by Robert Maynard Hutchins, which remains among the most expansive of ranked American colleges, as well as its emphasis on preparing students for continued graduate study since 85% of graduates go onto graduate study within 5 years of graduation, higher than any other school, around 15-20% of graduates go on to receive PhDs. For 2016, 2017, 2018, U.
S. News & World Report ranked the University of Chicago as 3rd in the nation for undergraduate education, behind Princeton and Harvard, tied with Yale. In 2012, Forbes magazine ranked the University of Chicago's undergraduate program 4th in the country, ahead of every Ivy League institution except Princeton. In 2010, Forbes named the University of Chicago a "billionaire university," ranking the university as the 6th most successful in the country for producing billionaire alumni. In 2007 Princeton Review named the College as having the "Best Undergraduate Academic Experience" in the United States. In the 2012 edition of The Best 376 Colleges, the Princeton Review ranked UChicago 7th for politically active students, 9th for students who study the most, 13th for the best college library, named it a "best-value college". In 2012, Newsweek ranked UChicago 5th for having happy students, 9th for academic rigor, 12th for being stressful. In 2012, the QS World University Rankings ranked the University of Chicago as the 4th best institution of higher learning in the United States, after MIT, Yale, as well as 8th in the entire world.
In addition, College Crunch, an online college admissions resource, ranked the University of Chicago as 1st in the country among colleges and universities for its undergraduate college. The University has the highest SAT ranges for admitted students of any school in the nation. For the class of 2015, the middle 50% range for combined math and reading SAT scores was 1420-1530. Up until the 2007-2008 admissions cycle the school used a self-dubbed "Uncommon Application", did not accept the more popular, nationalized Common Application, which can be sent to multiple institutions, for collegiate admissions. However, in 2009, the school adopted the Common Application and included a supplement that kept the spirit of the Uncommon Application; the cornerstone of the used Uncommon Application and the current supplement is a unique set of essay questions that have attracted a lot of attention for the school. Prompts have ranged from the bizarre, "Write an essay somehow inspired by super-huge mustard," to intentionally vague prompts such as "Find X" to esoteric quotes by famous individuals such as "mind that does not stick" - Zen Master Shoitsu.
In the 2011-2012 season, there was a question that referenced a game in which students use Wikipedia to draw connections between unrelated things: "What does Play-Doh have to do with Plato?"The school's acceptance rate fell to a record low of 7.2% for the class of 2022. In comparison, the acceptance rate was 8.7% for the class of 2021. The yield hit a record-high 72% for the class of 2021, ranking as the fourth-highest in the country, behind only Harvard, Stanford and MIT. In June 2018, as part of its new Empower initiative, the University announced that it would become the first major American research university to adopt a test-optional policy for undergraduate applicants, along with guaranteeing free tuition to students whose families made under $125000 per year and expanding scholarships to veterans, as well as the children of police officers and firefighters; the college offers 52 majors. A primary departmental or committee affiliation is denoted for those whose names differ from that of their field designation.
A student is awarded either the A. B. or S. B. degree. The college notably does not offer majors in pre-professional areas such as finance; the college introduced minors in a select numbers of fields, offers several joint bachelors / masters programs to high performing students in a variety of subjects. The University of Chicago requires all undergraduates to fulfill the Common Core, which demands work across all areas of the liberal arts for both A. B. and B. S. concentrators, albeit in a form reduced from the Hutchins era. 15 courses are required in addition to tested foreign language proficiency if no Advanced Placement or International Baccalaureate examinations are used for exemption (a reduction of six credits, or two full-time quarters, may be achieve
