Japanese University honors econ professor

Wilson Professor Emeritus of Economics Lionel McKenzie recently received an honorary doctoral degree from Kyoto University, Japan. As a prominent contributor to the development of general equilibrium theory, McKenzie’s decades of research and teaching not only produced numerous distinguished professors from UR, but generated global attention in economics.This is not the first time McKenzie has received an honorary distinction from Japan. In 1995, he received the medal of the Order of the Rising Sun from the Japanese government, and in 1998 he received an honorary doctoral degree from Keio University in Tokyo. General equilibrium theory, a study of price formation and the supply of goods and services in a competitive market, has been a crucial study at the Institute of Economic Research at Kyoto University. McKenzie’s study has had significant influence in Japan. To honor McKenzie’s doctoral degree, Kyoto University held an international conference titled, “Trade, Growth, and General Equilibrium,” which included various renowned scholars like Ronald W. Jones, Xerox Professor of Economics at UR and one of the first appointees at the graduate economics department. In 1957, McKenzie founded the graduate program in economics at UR, and since then his ability to comprehend and value graduate students’ capability in fair manner has helped him to become a mentor for the UR community. Ever since his arrival at UR as the department chair, he has brought in various eminent scholars in order to ameliorate its program and to create world level economics program.”Professor McKenzie at that time was already a big name in the field of economics and brought quite different programs to UR,” says Jones. “He should be congratulated for being a lifetime scholar and originator of UR economics department.” In 1962, the first Ph. Ds were given to two students, which one of them happened to be a Japanese scholar. After that, UR’s ties with Japanese scholars have increased and have awarded more than 50 doctoral degrees to students from Japan. “I still remember Professor McKenzie’s affable smile and no matter how eminent he became, he always strived to the utmost effort of his work,” reminisces Dr. Hiroo Sasaki, a graduate of UR Ph. D economics program and now a professor at Waseda University School of Commerce in Tokyo. “He was also a humble professor who always stretched his intellectual potential.”To further advance the research of general equilibrium theory at Kyoto University, McKenzie donated over 2,200 books to the Institute of Economic Research to help establish McKenzie Library.”I wish that the library will be utilized by many scholars and interested visitors,” said McKenzie in Kyoto Newspaper. When McKenzie’s wife died a few years ago, McKenzie requested through Professor Ohyama at Keio University that contributions be made to Ms. McKenzie’s memorial fund. After gathering the fund from Japanese graduates and also adding his personal money, McKenzie established Ueyama Scholarship for the future Japanese scholars. “Ms. McKenzie’s unfortunate death left an indelible impression on my mind, but Ueyama Scholarship always recalls how great a man Professor McKenzie is,” says Sasaki. “She and Professor McKenzie not only provided great smiles, but took great care of foreign students.”Since 1989, Kyoto University awarded eight honorary doctoral degrees to scholars from Russia, Germany, and US, but McKenzie is the first one from the field of economics.”I am greatly honored to receive this honorary doctorate degree,” said McKenzie in Yomiuri Newspaper. “UR has accepted numerous Japanese students over the past four decades and I hope that this trend will continue to grow in the future.”