Stiglitz

IU Northwest Chancellor Bruce Bergland will preside and IU President Adam Herbert will confer degrees. Recipients include December 2003 graduates and candidates for May and August 2004. This number also includes graduate students whose degrees have been or will be awarded during the 2003-04 academic year.

Stiglitz, professor of finance and economics at Columbia University, will be honored with the honorary doctor of laws degree,

Stiglitz also will give a presentation titled "Adapting to Globalization" at 3 p.m. in the Savannah Center Auditorium. A public reception, to be held in his honor, will precede the presentation at 2 p.m. in the Savannah Center lobby. The events are free and open to the public.

Stiglitz forever changed how the world understands economics through pioneering two branches of economic theory — economics of information and development economics. Economics of information is a branch of economics that examines the information that particular individuals might possess when entering into any transaction. While traditional economic models assumed that all parties maintained ideal and complete knowledge in a transaction, Stiglitz recognized that real market economies feature myriad imperfections that can have immense economic consequences. Many of his subsequent papers on the subject examine such "asymmetries of information," or conditions in which some parties know more than others.

A member of the National Academy of Science, Stiglitz has served as chair of the President’s Council of Economic Advisors; chief economist and senior vice president of the World Bank; and professor of economics at Yale, Oxford, Princeton, Stanford and Columbia universities.

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