The last hearing of a chain of reports about the Nobel Prize Laureates in Economic Sciences took place at Azerbaijan State University of Economics (UNEC) within the “Science Month” on November 8.
Director of the Science and Innovations Center of UNEC, Professor Sakit Yagubov spoke about the implementation of the events about the Science Month. He provided the participants with the information about the completion of scientific articles contest held at UNEC within the actions plan and brought to attention that the awarding of winners will take place in the solemn ceremony. Then reports on Nobel Prize Laureates were sounded.
The Department Director of the Scientific Research Institute of Economic Studies, Assistant Professor Murad Baghirzade made a report about the Nobel Prize Laureate in Economic Sciences of 2011 Tomas J.Sargent was awarded the Nobel Memorial Prize together with Christopher A. Sims for their empirical research on cause and effect in the macro economy. Together with another Nobel Laureate R. Lucas he is considered the founder of modern structural macro-econometric theory. For the first time he reasoned that the inclusion of rational expectations, analysis made it possible to eliminate gaps in the classic Keynesian theory and thus contributed to new neo-classical theory.
Expressing his views about the theories made by Tomas J.Sargent, Deputy Director of the Scientific-Research Institute of Economic Studies Rovshen Guliyev commented the benefits of some clauses in these theories.
It should be noted that a series of events held at UNEC within the “Science Month” in the months October-November are under the completion. A range of events such as scientific workshops, round-table discussions are in progress within the “Science Month” at UNEC. The first stage of the competition held among UNEC’s academic staff, young research fellows and graduate students on “Socio-economic Development of Azerbaijan: Achievements and Perspectives”. The “Science Month” will be completed on November 10 “World Science Day for Peace and Development”. The rewarding of scientific articles’ competition held among the academic staff, young research fellows, graduate and undergraduate students will take place in the event.