U of M to honor a Nobel Prize winner

The University of Minnesota welcomes back a Nobel Prize-winning economist with an honorary degree on Monday, the Associated Press reports.

Thomas Sargent and and another former U of M economics professor, Christopher Sims, did much of the research for their macroeconomic model while at the U of M. They were awarded the 2011 Nobel Memorial Prize in Economic Sciences for their work.

Sargent, who’s now at New York University, will give a lecture about monetary unions Monday afternoon before the honorary degree ceremony in Cowles Auditorium.

“Tom’s service to our department of economics impacted not only his students, but the University as a whole,” College of Liberal Arts Dean James Parente said in a news release. “His work is so closely tied to our mission of advancing learning and the search for truth, sharing this knowledge through education for a diverse community, and applying this knowledge to benefit the people of the state, the nation, and the world.”