Robert A. Mundel

Paper Summary:

This paper explains that Mundel, who has taught at major universities around the world, won the 1999 Nobel Prize in Economics for his theory of optimum currency areas, which focuses on the cost side of the cost-benefit analysis within a monetary union. The author relates that Mundel, the co-founder of supply-side economics, created a standard, international macroeconomics model, which changed the way economies around the world operate. The paper points out that Mundel aided in the development of the Euro, the single currency unit used by twelve member states of the European Union, which resulted in the increased stability of the currency.

Table of Contents
Introduction
Biography
Accomplishments
Contributions
Conclusion

From the Paper:

"Robert A. Mundel was born in 1932 in Canada. A precocious student he showed an early interest in the way that the world worked and the impact of the economic world on our everyday lives. After graduating from high school, he went to college at MIT. The Columbia University website asserts that the economist received his PHD from MIT in 1956. He was also granted a fellowship at the University of Chicago in 1956 and 1957. He went on to become one of the most respected economists of the modern era."

More papers on Robert A. Mundel:

• Book Review # 93453 : "Robert A. Heinlein's "Stranger in a Strange Land"
• Book Review # 21890 : "Robert A. Slayton's "Back of the Yards"
• Research Paper # 95914 : "The Impact of Robert Adam"

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