If you’re interested in
trying to solve problems, then this is the place to be. We start with problems. OK, here’s the problem. You try to understand that
problem in all its dimensions. And then we want to
bring as many tools as we can bear on that
problem to understand it. That’s what economic
systems design is about, designing an efficient system. It’s a degree that’s on the
bridge between engineering and economics. The main thing
they graduate with is their thesis, which is
a problem that they started and worked on and completed. My colleague David
Porter and myself have really focused hard on
minimizing the lecture based aspect of the program and
trying to get students involved in what we do. And they got to
go up to the board and tell everybody else
how they solved this thing. And then we could see
work problems occurred, how they got it right. That would be great so
other people can learn. And I do think in
economics, there’s nobody else out there that’s
really offering the program that we’re offering. We’re going a step beyond. And we’re designing
new things that aren’t even in books anywhere. And that’s why we have
laboratory facilities. We have the best laboratory
facilities in the entire world. We are the most active
laboratory anywhere. Our students get a lot of our
time, really one on one time, because it’s their problem
that they’re interested in. The students that have done best
and the ones that go on and do very well are curious people. They don’t come in with any
already preconceived answer. They really want to
understand the problem. And that’s the type of
student we’re looking for. [MUSIC PLAYING]

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