Prof. Daron Acemoglu of the Massachusetts Institute of Technology (MIT) was awarded the Nobel Prize in Economics for his research on the impact of institutions on prosperity.
In 2022, a team of researchers from the Department of Economic Policy at the Faculty of Economics of the University of Economics in Bratislava was one of the first research teams in the Slovak Republic to receive funding for a bilateral project entitled: „Implications of automation for the labor market in the United States and the European Union“, within of the grant scheme MIT – Slovakia Seed Fund (MISTI Global funds for Slovakia), which was created in 2019 by the Ministry of Investments, Regional Development and Informatization of the Slovak Republic with the Massachusetts Institute of Technology.
The project between EUBA and MIT ran from May 1, 2022 to January 31, 2024. On the EUBA side, it was led by doc. Martin Lábaj from the Faculty of Economics, and on the MIT side, the team of researchers and students was led by prof. Daron Acemoglu, who today holds the Nobel Prize for Economics.
"Daron Acemoglu ranks among the TOP 3 most renowned economic academics in the world according to the RePec database. The opportunity to participate in the project directly with him and his team was an incredible success for us, a great challenge and at the same time a commitment to raise the level of research at our department to a new level," said Martin Lábaj, head of the project for the Slovak side.
In addition to Professor Acemoglu, Simon Johnson and James A. Robinson were also awarded the Nobel Prize. According to the Swedish Academy this year’s laureates in the economic sciences, have demonstrated the importance of societal institutions for a country’s prosperity. Societies with a poor rule of law and institutions that exploit the population do not generate growth or change for the better. The laureates’ research helps us understand why.
The Nobel Prize for Economics is not part of the original prizes established in the testament of the inventor of dynamite Alfred Nobel from 1895. It has been awarded since 1968 and most of its laureates are Americans.
The University of Economics in Bratislava joins in congratulating Prof. Acemoglu for his prestigious award.
