10. January 2014

Faculty Spotlight Larry Blume


After Larry Blume from Cornell University has taught his Applied General Equilibrium Theory course, I had the chance to talk to him about his teaching experience at HIS in the MSc Program Economics.

What do you think is special about the master´s program?
The students at IHS are extremely good. IHS has a great student culture which promotes learning. Compared to other master´s programs, students are very well prepared for top PhD programs. The program focuses on the foundations, which gives them an advantage to students and graduates of other programs.

How would you describe the typical student?

The students are very committed and have a great work ethic. Although the program is not easy, the students rise up to it.
The key part of the program is the master´s thesis. One of the hardest steps is the transition from coursework to research; by writing the master’s thesis and the support the students get from the faculty, they are on a good path towards being excellent researchers.

How is the contact with the students? And what are the differences to students of regular study programs?
At IHS students are considered as almost colleagues, like junior-junior faculty members, therefore the interaction between students and faculty is unique.

What are the key aspects of your lecture?
I have the advantage of teaching general equilibrium to students who have already been well-prepared in a first class taught by Professor Dierker.   I explore applications of general equilibrium ideas and interpretations of the models.  Because the standard ground has been covered, I can cover less-standard material that increases the students’ range and depth, such as linear economic models, von Neumann's expanding economy model and turnpike theorems.


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