Marcus Alexis facts for kids

Marcus Alexis (born February 26, 1932 – died May 27, 2009) was a well-known American economist. He was a professor at Northwestern University's Kellogg School of Management. He also held important positions in the government.

He was a former chairman of the Federal Reserve Bank of Chicago. This bank is part of the U.S. central banking system. He also worked for the Interstate Commerce Commission. This was a government group that regulated transportation. He served there during President Jimmy Carter's time in office.

Marcus Alexis made history in 1959. He was the first African American to earn a Ph.D. in economics from the University of Minnesota. He was famous for helping and guiding other African American economists. He received several awards for his work. These included the Samuel Z. Westerfield Award in 1979. He also got an Outstanding Achievement Award from the University of Minnesota. Brooklyn College gave him an Honorary Doctorate.

Early Life and School

Marcus Alexis was born on February 26, 1932. He grew up in Brooklyn, New York. He was one of seven children in his family. He went to public schools in New York City. Later, he attended Brooklyn College.

He continued his studies at Michigan State University. There, he focused on finance. He then earned his doctorate degree in economics. He got this advanced degree from the University of Minnesota. After that, he did more advanced research. This work took place at Harvard University and the Massachusetts Institute of Technology.

A Career in Economics

Marcus Alexis taught at several universities. He shared his knowledge at Macalester College. He also taught at DePaul University and the University of Rochester. He was a professor at Northwestern University. He taught in both the economics department and the Kellogg School of Management. He also served as the dean of the business college. This was at the University of Illinois at Chicago.

In 1969, he helped start a group called the Caucus of Black Economists. This group is now known as the National Economic Association. Marcus Alexis was the first leader of this organization. He also helped create a special summer program. This program helps talented students from diverse backgrounds. It prepares them for advanced studies in economics.

Alexis also served as the chairman of the Federal Reserve Bank of Chicago. For two years, he was a member of the Interstate Commerce Commission. He even served as the acting chairman of this commission. This was during President Jimmy Carter's administration.

Key Writings

Marcus Alexis wrote many important papers. These papers explored different economic topics. Here are a few examples of his work:

• He wrote about how organizations make decisions.
• He studied differences in how people spend money.
• He researched how to figure out food shopping areas in cities.
• He explored ideas about fairness in the job market.
• He looked at the economic progress of African Americans over 50 years.