American Economic Association

Published Apr 5, 2024

Definition of American Economic Association (AEA)

The American Economic Association (AEA) is a prestigious organization aimed at advancing knowledge in economics. It provides a platform for economic research, encourages perfecting economic theory and its application, and facilitates communication and exchange among those interested in economics. Membership is open to anyone who considers themselves a professional or academic in the field of economics or who has a keen interest in economic issues.

History and Purpose

Founded in 1885, the AEA was established by a small group of dedicated economists, including Richard T. Ely, with the goal of promoting the study and discussion of economic issues. Over the years, the organization has grown in both scope and influence, playing a critical role in the development of economic thought and policy.

The AEA publishes several influential journals, such as the American Economic Review, the Journal of Economic Literature, and the Journal of Economic Perspectives, which disseminate important economic research to academics, policymakers, and the public. These publications cover a wide array of economic topics, from theoretical analyses to policy discussions, and have a significant impact on the field of economics.

Activities and Services

The American Economic Association engages in numerous activities aimed at fostering the advancement of economics. Among its key activities are:

• Annual Meetings: The AEA holds annual meetings that bring together thousands of economics professionals from around the globe to discuss current economic issues, present research findings, and exchange ideas.
• Publications: It publishes several leading economics journals, offering members and subscribers access to cutting-edge research and analysis.
• Data and Research Resources: The AEA provides a wealth of resources, including economic data, teaching resources, and research tools, supporting economists in their research endeavors.
• Professional Development: The association offers numerous opportunities for professional development, including webinars, workshops, and continuing education programs designed to help economists stay current in their field.
• Policy Advocacy: While the AEA does not take specific policy positions, it does provide a platform for discussion on economic policy through its publications and conferences, thereby indirectly influencing economic policy and public discourse.

Why the American Economic Association Matters

The AEA plays a crucial role in the world of economics. It not only contributes to the advancement of economic knowledge and policy but also serves as a central hub for the exchange of ideas among economists. By facilitating communication among economists, disseminating research findings, and promoting high standards of scholarly work, the AEA helps to shape the direction of economic thought and policy worldwide.

Furthermore, the AEA’s commitment to economic education and public understanding of economic issues helps to demystify economics for the broader public. It provides resources that make economics accessible to teachers, students, policymakers, and interested individuals, fostering a more informed public discourse on economic issues.

Frequently Asked Questions (FAQ)

How can one become a member of the American Economic Association?

Membership in the AEA is open to anyone with an interest in economics. This includes professionals, academics, and students. Interested individuals can apply for membership through the AEA’s website, where membership categories and dues are detailed.

What are the benefits of AEA membership?

Members of the AEA receive numerous benefits, including subscriptions to AEA journals, access to annual meeting presentations, educational resources, and opportunities for networking and professional development.

How does the AEA influence economic policy?

While the AEA does not directly engage in policy advocacy, it influences economic policy indirectly through its publications, conferences, and the platform it provides for the exchange of ideas. This indirect influence shapes the economic policy debate by informing policymakers and the public about current economic research and thinking.

In summary, the American Economic Association stands as a cornerstone of the economic profession, promoting the pursuit of knowledge in economics, fostering the exchange of ideas, and contributing to the development and application of economic theory and policy. Through its activities and services, the AEA significantly impacts the field of economics, aiding both professionals within the field and society at large.