Media Releases
Published Date: 14 June 2013

Renowned economist Professor Benjamin M Friedman appointed as MAS Term Professor at NUS

Monetary Authority of Singapore             National University of Singapore 

Singapore, 14 June 2013 – The National University of Singapore (NUS) and the Monetary Authority of Singapore (MAS) have jointly appointed Professor Benjamin M Friedman, William Joseph Maier Professor of Political Economy at Harvard University, as MAS Term Professor in Economics and Finance from 17 to 21 June 2013. Professor Friedman will be hosted by the NUS Faculty of Arts and Social Sciences’ Department of Economics, the NUS Business School, and the Economic Policy Group at the MAS during the term of the Professorship.

2   Professor Friedman was formerly the Chairman of the Department of Economics at Harvard University and has written extensively on economic policy, particularly on the role of the financial markets in shaping monetary and fiscal policies and their impact on overall economic activity. He brings with him a wealth of experience, having served as director of financial markets and monetary economics research at the National Bureau of Economic Research; as a member of the National Science Foundation Subcommittee on Economics; and as an advisor to the Congressional Budget Office and to the Federal Reserve Bank of New York.

3   Mr Ong Chong Tee, Deputy Managing Director, MAS, welcomed Professor Friedman's appointment.  "We are honoured to have Professor Friedman as the fifth MAS Term Professor.  He has contributed significantly to the theory and practice of macroeconomic and growth policies.  We look forward to engaging Professor Friedman on the challenges facing policymakers in promoting price and financial stability, and sustainable, inclusive growth in the post-crisis era,” said Mr Ong.

4   Professor Brenda Yeoh, Dean, NUS Faculty of Arts and Social Sciences, said, “We are very pleased to welcome a well-established academic like Professor Friedman to NUS. His impact on economic policy, especially on the appropriate policy actions in response to crises in a country's banking or financial system has been widely recognised and we look forward to the exchange of ideas in the coming week.”

5   Professor Friedman will deliver a public lecture at NUS on 18 June 2013 where he will address the moral consequences of economic growth. Professor Friedman will also meet with faculty and government officials from various agencies.

The MAS Term Professorship was established in 2009 to help strengthen Singapore's financial and economic research infrastructure and contribute to a vibrant research community and culture at local universities.


About National University of Singapore (NUS)

A leading global university centred in Asia, the National University of Singapore (NUS) is Singapore’s flagship university which offers a global approach to education and research, with a focus on Asian perspectives and expertise.
NUS has 16 faculties and schools across three campuses. Its transformative education includes a broad-based curriculum underscored by multi-disciplinary courses and cross-faculty enrichment. Over 37,000 students from 100 countries enrich the community with their diverse social and cultural perspectives.
NUS has three Research Centres of Excellence (RCE) and 23 university-level research institutes and centres. It is also a partner in Singapore’s 5th RCE. NUS shares a close affiliation with 16 national-level research institutes and centres. Research activities are strategic and robust, and NUS is well-known for its research strengths in engineering, life sciences and biomedicine, social sciences and natural sciences. It also strives to create a supportive and innovative environment to promote creative enterprise within its community.  
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About Monetary Authority of Singapore

As Singapore's central bank, the Monetary Authority of Singapore (MAS) promotes sustained, non-inflationary economic growth through appropriate monetary policy formulation and close macroeconomic surveillance of emerging trends and potential vulnerabilities. It manages Singapore's exchange rate, foreign reserves and liquidity in the banking sector. MAS is also an integrated supervisor overseeing all financial institutions in Singapore -- banks, insurers, capital market intermediaries, financial advisors, and the stock exchange. Being an integrated supervisor allows the MAS to adopt a consistent and progressive regulatory and supervisory approach and framework, thereby ensuring a level playing field across all market segments, sectors and activities. With its mandate to foster a sound and progressive financial services sector in Singapore, MAS also helps shape Singapore's financial industry by promoting a strong corporate governance framework and close adherence to international accounting standards. In addition, it spearheads retail investor education. MAS ensures that Singapore's financial industry remains vibrant, dynamic and competitive by working closely with other government agencies and financial institutions to develop and promote Singapore as a regional and international financial centre.

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