Economics’ new course

BY FRANZ BROTZEN

Antonio Merlo, the George A. Peterkin Professor of Economics, discusses RISE (the Rice Initiative for the Study of Economics), plans for the department to build a specialty in applied economics, his loyalty to Italian soccer and why he is “a big believer in hitting the ground running.” Photo by Tommy LaVergne

Antonio Merlo, the George A. Peterkin Professor of Economics, joined Rice last summer. As the new chairman, he was charged with expanding and improving the department. With 200 undergraduates majoring in economics (the largest undergraduate major at Rice) and about 40 doctoral students, these changes are certainly in the spotlight. One of Merlo’s innovations is the Rice Initiative for the Study of Economics, or RISE. We sat down recently with Merlo to learn about RISE, plans for the department to build a specialty in applied economics, his loyalty to Italian soccer and why he is “a big believer in hitting the ground running.” Highlights from the interview, edited for clarity and space, follow.

Q: What factors drew you to Rice? 

A: I was presented with a vision. Nowadays, you hear a lot of universities talking about interdisciplinary research and the focus on the intersection of many different disciplines. One thing that I found extremely refreshing was to hear President Leebron say that you can’t be strong in interdisciplinary research unless you have strength in the core disciplines that determine this intersection.

Rice is a fantastic university. And if you want to stay a top university, you have to make an investment in a top economics department. I was given free rein and a mandate to implement this vision.

And, let’s not discount the most important thing. It’s fine when people tell you, “Here is a blank canvas. Paint it.” Then they tell you, “Sorry, you’ve got to go find the resources to do it yourself.” [Leebron] said, “Here are the resources you’re going to need in order to find the colors you need to build the department and make Rice proud of its economics department.”

I don’t think it’s just about building an economics department; it’s about making the presence of economics felt across many campus departments. It’s certainly an opportunity to make a difference in the field I love.

Q: How does the new economics initiative fit into this vision?

A: RISE is a five-year program for investing in research and teaching in economics at Rice. It’s like a global effort to raise the level of the discourse on economics on campus. Nowadays, no matter what your profession is, no matter how you want to position yourself, it’s so critical for people to be exposed to deep critical thinking in economics and basic understanding of economic principles.

 This Q&A is featured in the winter 2015 issue of Rice Magazine. To read the rest of the Q&A and see other stories, visit https://ricemagazine.creatavist.com/newcourse.