The Clark Medal

AAA

DEFINITION of 'The Clark Medal'

An informal name for the John Bates Clark Medal, which is a prize awarded annually by the American Economic Association to an economist working in the United States who is younger than 40 years old and has contributed outstanding research to the field of economics. The Clark Medal is one of the most prestigious awards in the field, and many John Bates Clark Medal winners have gone on to win the Nobel prize in economics.


Unlike the Nobel prize, however, the medal is never awarded to more than one economist in the same year.

INVESTOPEDIA EXPLAINS 'The Clark Medal'

From its inception in 1947 until 2007, the medal was awarded only every two years. Starting in 2009, the award became annual. Previous winners include Paul Samuelson, Milton Friedman, James Tobin, Kenneth Arrow, Robert Solow, Joseph Stiglitz, Paul Krugman, Zvi Griliches, Gary Becker, Daniel McFadden, A. Michael Spence and James Heckman. John Bates Clark was an American neoclassical economist who passed away March 21, 1938.



RELATED TERMS
  1. Keynesian Economics

    An economic theory of total spending in the economy and its effects ...
  2. Green Economics

    A methodology of economics that supports the harmonious interaction ...
  3. Welfare Economics

    A branch of economics that focuses on the optimal allocation ...
  4. New Keynesian Economics

    The modern macroeconomic school of thought that evolved from ...
  5. Classical Economics

    Classical economics refers to work done by a group of economists ...
  6. Macroeconomics

    The field of economics that studies the behavior of the aggregate ...
Related Articles
  1. The Austrian School Of Economics
    Economics

    The Austrian School Of Economics

  2. Understanding Supply-Side Economics
    Economics

    Understanding Supply-Side Economics

  3. Nobel Winners Are Economic Prizes
    Options & Futures

    Nobel Winners Are Economic Prizes

  4. The Uncertainty Of Economics: Exploring ...
    Economics

    The Uncertainty Of Economics: Exploring ...

comments powered by Disqus
Hot Definitions
  1. Elasticity

    A measure of a variable's sensitivity to a change in another variable. In economics, elasticity refers the degree to which ...
  2. Tangible Common Equity - TCE

    A measure of a company's capital, which is used to evaluate a financial institution's ability to deal with potential losses. ...
  3. Yield To Maturity (YTM)

    The rate of return anticipated on a bond if held until the maturity date. YTM is considered a long-term bond yield expressed ...
  4. Net Present Value Of Growth Opportunities - NPVGO

    A calculation of the net present value of all future cash flows involved with an additional acquisition, or potential acquisition. ...
  5. Gresham's Law

    A monetary principle stating that "bad money drives out good." In currency valuation, Gresham's Law states that if a new ...
  6. Limit-On-Open Order - LOO

    A type of limit order to buy or sell shares at the market open if the market price meets the limit condition. This type of ...
Trading Center