A Columbus City Schools graduate and former Ohio State student has been awarded a 2026 Nobel Prize for economics.
Michael Woodford, a Columbia University professor, was awarded the Nobel Prize in Economic Sciences on Oct. 12 for developing "new macroeconomic models that have significantly improved our ability to implement effective stabilization policy."
According to Columbus City Schools, Woodford graduated from Walnut Ridge High School in 1973, and according to Ohio State University, he was a former student at the school.
Superintendent Angela Chapman said the district congratulates Woodford on his achievement and said the district is "committed to growing student leaders."
"We hope he inspires our current generation of students to go forth and
do big things," Chapman said.
Woodford eventually received his bachelor's degree from University of Chicago, a law degree from Yale Law School, and his doctorate in economics from the Massachusetts Institute of Technology, according to his Columbia University biography.
Woodfard was awarded the Nobel Prize alongside fellow economist Robert E. Hall, a professor at Stanford University. According to the Nobel press release, they won the award for demonstrating how economic models could be reconstructed to revitalize stabilization policy.
Rather than basing the models on statistical links between macroeconomic variables, such as inflation, production and consumption, they chose to build them on a microeconomic foundation, the release said.
Congratulations to Columbus City Schools alumnus Michael Woodford on winning the 2026 Nobel Prize in Economic Sciences! What an incredible achievement! We are proud to celebrate your success. 👏🏆 #OurCCS #LeadersGrownHere https://t.co/fzSm85Myfm
— Columbus City Schools (@ColsCitySchools) October 16, 2026
"This encompasses an understanding for how the total mass of individual households and businesses affect the economy through their actions," the release said.
John Hassler, chair of the committee for the Nobel economics prize, said the pair have "provided us with a stable theoretical foundation for the models that are now used by central banks and governments around the world."
"With them, we are better equipped to deal with shocks in the economy, such as energy crises or sudden changes in how much households consume,” Hassler said.
Cole Behrens covers K-12 education and school districts in central Ohio. Have a tip? Contact Cole at cbehrens@dispatch.com or connect with him on X at @Colebehr_report
This article originally appeared on The Columbus Dispatch: Columbus City Schools grad wins Nobel Prize in economics
