The Nobel Laureate visited UNEC
A meeting with the Nobel Prize Laureate in Economy Edward Prescott has been held at Azerbaijan State University of Economics (UNEC) on September 30. The meeting was attended by the Director of the Institute of Economics of the ANAS, Professor Nazim Imanov and UNEC’s academic and student staffs.
Delivering the information about Edward Prescott, UNEC’s Vice-rector for International Affairs and Programs Shahin Bayramov said that the scholar is also an Honorary Doctor of the University. S.Bayramov informed that the scientist visited UNEC within the framework of the V Baku International Humanitarian Forum.
Professor Nazim Imanov brought to attention that the Nobel Prize Laureate made has made his contributions to the regulation of economy, time sequence of economic policy, driving forces of business and other areas.
Edward Prescott delivered the information about the current situation of the world economic development making a speech within the event. He spoke about the latest processes observed in the world economy and the situation in the countries affected by the crisis and depression. Referring to the economic and political relations among the countries, the Nobel Laureate said that the global economic crisis is a result of different economic policies conducted by the states. He associated the decline in the countries’ economies with the uncertainty of fiscal policy.
E.Prescott also spoke about the significance of good governance for sustainable development. He stressed the importance of attracting educated and highly skilled young people to the economy.
The audiences’ questions were responded in the meeting.