Be cool, even Nobel prize just arrived.

Edmund S. Phelps wins Nobel in Economics today.

This is the 3rd Nobel in Economics won by Columbia faculty in seven years.

The last two are Joseph E. Stiglitz in 2001 and Robert A. Mundell in 1999.

Dean Hubbard announced this news at the beginning of our class and mentioned main accomplishment of Phelps - there is no real trade off between low interest and unemployment. Very short. The whole school appears quite cool. Nothing looks different in the whole campus from any other common day.