Armen Albert Alchian

Picture of Armen Albert Alchian


American economist and emeritus professor of economics at the University of California in LosAngeles (University of California, Los Angeles, or UCLA).

Alchian was born April 12, 1914 in Fresno, California (Fresno, California), in an Armenian family, and today he is - one of the oldest economists on the planet. He studied for two years at the University of California in Fresno (California State University, Fresno),until he was transferred in 1934 from Stanford University (Stanford University), where in 1936 received a bachelor`s degree, and in 1944 defended his doctoral thesis on `The Effects of Changes in the General Wage Structure` (` The impact of changes in the structure of wages platy`) . 1940 and 1941 year he spent in the NBER (National Bureau of Economic Research) and Harvard University (Harvard University), and in 1942 became an instructor at the University of Oregon (University of Oregon). During World War II, from 1942 to 1946, he was a statistician in the Air Force United States (USA).In 1946 Alchian joined the faculty of Economic Faculty of the University of California in Los Angeles, where he spent his entire professional career, crowned with numerous awards and prizes. Over the years, he maintained contact with `Rand Corporation`, strategic research center ,which deals with the public welfare and security of the US. In 1996, 82 -year-old Armen Alchian was made an honorary member of the American Economic Association (American Economic Association). In 2000, Alchian was awarded the Adam Smith Award (The Adam Smith Award).

Studentscolleagues and followers know Alchian as the founder of the UCLA - economic traditions. He is a member of the Chicago School of Economics (Chicago school of economics) and one of the most prominent theorists in the field of microeconomics and especially the theory of prices of the second half of the 20th century. Alchian - author of pioneering articles on information and uncertainty and the theory of the firm. Through its research and work on the property rights and transaction costs Armen Alchian was the founder of an economic theory as ` new institutional ekonomika`. Part of the work explores themes of Alchian ,which are conventionally considered to be relevant to the microeconomics - money, inflation, unemployment and the theory of business investment. His articles differ clear, concise and witty descriptions and minimum of mathematical formalism.

Together with William Allen (William Allen),Alchian is co-author of a curious and important work on economics and proizvodstvo` ` Exchange (Exchange and Production). It was first published as an introductory text to the book ` Economic theory for universitetov` (University Economics) in 1964. Although the technical level of the text is unusually low demand ,which he presents to the economic intuition of students, an unusually high. The content and organization radically different from other American works on the economy, intended for study in universities, written in the second half of the 20th century. It was the first American introductory text that discussed the information ,transaction costs, property rights and a market economy as the search process. This text also contains the classic statement, which became known as the theorem Alchian - Allen (Alchian-Allen Theorem). Alchian trained many talented students, but the most famous of these was William F. Sharpe (William F. Sharpe),He received the 1990 Nobel Prize (Nobel Memorial Prize) in economics for his work on financing.

Armen Alchian - an avid golfer. Despite the years, it is extremely avid computer user - he was one of the first professors of the University of California, put the computer in their offices ,and perhaps the first in the Faculty introduced a major innovation as e-mail

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