ISU's Department of Economics holds the unique distinction of having three of its former faculty members who won the Nobel Prize in Economic Sciences.

Former Chair Theodore W. Schultz (1930-1943), featured in the photo left, won the prize in economic sciences in 1979. He later joined the faculty at the University of Chicago, and received the award for his research into economic development, with particular consideration for the problems of developing countries.
George Stigler (1936 to 1938) won the prize in economic sciences in 1982. After his time at ISU he became a key leader of the Chicago School of Economics, and received the award for his study of industrial structures, functioning of markets, and causes and effects of public regulation. 

Leonid Hurwicz (1946 to 1950) won the prize in economic sciences in 2007. He was a professor of economics and mathematics in the School of Business Administration at the University of Minnesota, and also served as the chair of the statistics department. He received the award for having laid the foundations of mechanism design theory.

Click on the name of each individual to learn more about their history and contributions to the study of economics.