James Heckman facts for kids
Quick facts for kids
James Heckman
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| Born |
James Joseph Heckman
April 19, 1944 |
| Institution | University of Chicago University of Southern California Columbia University Chinese University of Hong Kong |
| Field | Microeconomics |
| School or tradition |
Chicago School of Economics |
| Alma mater | Colorado College (BA) Princeton University (PhD) |
| Doctoral advisor |
Harry H. Kelejian Stanley Warren Black |
| Doctoral students |
Carolyn Heinrich George Borjas Petra Todd Stephen Cameron Mark Rosenzweig Russ Roberts |
| Influences | Albert Rees< Gary Becker Jacob Mincer |
| Contributions | Heckman correction |
| Awards | John Bates Clark Medal (1983) Nobel Memorial Prize in Economics (2000) Frisch Medal (2014) |
James Joseph Heckman (born April 19, 1944) is an American economist. An economist studies how people make choices about money and resources. He won the Nobel Memorial Prize in Economic Sciences in 2000. He is a professor at the University of Chicago.
Heckman is famous for his work in econometrics. This is a field that uses math and statistics to study economic data. He also made big contributions to microeconomics. This part of economics looks at how individuals and businesses make decisions. He is especially known for the Heckman correction. This is a method used to fix problems in data analysis.
Contents
Early Life and Education
James Heckman was born in Chicago, Illinois. He earned his first degree in mathematics from Colorado College in 1965. Later, he received his Ph.D. in economics from Princeton University in 1971. His Ph.D. paper was about how people supply labor and demand goods.
His Amazing Career
Heckman started his career as a professor at Columbia University. In 1973, he moved to the University of Chicago. He has guided over 70 students in their own studies. Many of his students became successful economists.
At the University of Chicago, he holds several important roles. He is a professor of economics, law, and public policy. He also directs research centers. These centers study how people develop and how social programs work. He has also taught at other famous universities. These include University College London and Yale University.
Helping People Through Research
In 2014, Heckman started the Center for the Economics of Human Development (CEHD). This center is at the University of Chicago. It brings together his many research projects. The goal is to find the best ways to help people grow and succeed.
The CEHD studies how early childhood programs can help kids. It also looks at how people's skills develop over their lives. This research helps leaders make better decisions. These decisions can improve education and job training.
What Did He Study?
Heckman is well-known for his work on selection bias. This happens when the way data is chosen affects the results. His "Heckman correction" helps fix this problem. This important work helped him win the Nobel Prize.
He also does a lot of research in labor economics. This field studies jobs, wages, and workers. He has shown how important early childhood education programs are. His studies prove that investing in young children helps them later in life.
His research helps us understand how economic policies affect people. He has studied how the Civil Rights Act of 1964 helped African Americans. He also looked at why some students drop out of high school.
Heckman found that a high IQ is not the only key to success. He showed that qualities like being hardworking and disciplined are very important. These traits, which he calls "conscientiousness," often lead to financial success.
He has written many articles and books. Some of his books discuss inequality in America. Others look at how character traits affect life success. He is also an editor for the Journal of Political Economy.
Awards and Honors
Heckman has received many awards for his important work. In 1983, he won the John Bates Clark Medal. This award is given to a top American economist under 40. He also received the Nobel Memorial Prize in Economic Sciences in 2000.
Other awards include the Jacob Mincer Award for Lifetime Achievement in Labor Economics. He also won the Frisch Medal in 2014. In 2016, he received the Dan David Prize for his work on fighting poverty.
Family Life
James Heckman married sociologist Lynne Pettler-Heckman in 1979. She passed away in 2017. They had two children. Their son, Jonathan, is a physics professor. Their daughter, Alma, is a history professor.
See also
In Spanish: James Heckman para niños
- List of economists
- List of think tanks
