Kathmandu, April 22, 2018: Parag Pathak, 37, awarded the prestigious John Bates Clark Medal by The American Economic Association (AEA) for his remarkable economics research work. A young American economist of Nepali origin won the John Bates Clark Medal 2018 opening the door of becoming a Nobel laureate.
As a microeconomics professor at the Massachusetts Institute of Technology (MIT), his work on market design and education policy was the award winning research which notably led to improvements in the “application of market-design tools to the assignment of students to public schools”.
As stated by Bloomberg, annually the medal is awarded to American economist under the age of 40, for their outstanding research accomplishments in economics with one-in-three chance of eventually winning the Nobel Prize in economics. Also as per Bloomberg, Pathak’s research suggests that school choice can lead to improved student performance.
His studies show that charter schools receiving grants from the government to educate children, enhance student attainment, and urban charter schools have the potential to generate impressive achievement gains, especially for minority students living in high-poverty areas. Pathak has also carried out convincing analyses of different policies designed to improve secondary education.
According to AEA, the policy advice provided by Pathak, positively influenced lives of over one million public school students with the use of innovative and sophisticated empirical and theoretical techniques.