Robert C. Merton who is an American economist, Nobel Memorial Prize in Economic Sciences laureate born on July 31, 1944, In New York, U.S.
He is the son of Robert K. Merton and Suzanne Carhart. His father had been a professor of sociology at ‘Columbia University’. He had one older sister Stephanie and one younger sister Vanessa.
In 1966, He married June Rose, television actress and model. They had three children, one daughter Samantha J and two sons, Robert F, and Paul J. They divorced in 1996.
He started his schooling at a local public school in Hastings-on Hudson. In 1964, He had studied Engineering Mathematics at the ‘Columbia University’ and had won a ‘Faculty Scholarship Award’. He received his B.S. degree in 1966. From 1966-67, He attended the ‘California Institute of Technology’ and did his M.S. in Applied Mathematics 1967. He had study economics at the ‘Massachusetts Institute of Technology’ and In 1970, He had received his Ph.D. in economics from MIT.
He had wanted to become an automobile engineer when He turned up and even worked for Ford in Dearborn Michigan during two summers of his college days. In 1969, Robert C. Merton did his first consulting job for a bank in Southern California. From 1969 to 1970 He had worked as an Instructor at the ‘Department of Economics’ at MIT. From 1970 – 1973, He had taught finance at the ‘A. P. Sloan School of Management’ at MIT as an Assistant Professor of Finance, and had also as an Associate Professor from 1973 to 1974 and as a Professor from 1974 to 1980. He had been a ‘J. C. Penny Professor of Management’ from 1980 to 1988 at MIT. In 1979, He had served as a ‘Research Associate at the ‘National Bureau of Economic Research’. From 1987 to 1988 He had been a ‘Visiting Professor of Finance’ at the ‘Graduate School of Business Administration, Harvard University’. He had been a Director of ‘Nova Fund’ from 1980 to 1988, trustee at ‘ABT Growth and Income Trust’ from 1982 to 1988, Director of ‘ABT Utility Income Fund’ from 1983 to 1988, Director of ‘Travelers Investment Management Company from 1987 to 1991, and trustee at the ‘College Retirement Equities Fund’ from 1988 to 1996. He had served as the Vice-President of ‘The Society for Financial Studies’ from 1993 to 1996.
- His middle name is Cox.
- He became excited about cars when he was 11-years-old and had built his own car at 15.
- Robert C. Merton has written many papers or treatises on economics. His book ‘Continuous-Time Finance’ had been published in 1990.
Awards and Achievements:
- In 1971-72, He received the ‘Salgo-Noren Award for Excellence in Teaching’.
- In 1977-78, He received the Graduate Student Council Teaching Award’.
- In 1983, He received the ‘Leo Melamed Prize’.
- In 1985-86, He received the ‘Roger Murray Prize Competition’.
- In 1997, Merton received the Nobel Prize in Economics.
What can we learn from Him?
Like Robert C. Merton, Trust only in yourself and on your efforts. Never expect from others.