Royal Economic Society

Published Sep 8, 2024

Definition of Royal Economic Society

The Royal Economic Society (RES) is one of the oldest and most prestigious economic associations globally, committed to promoting the study and understanding of economic science. Founded in 1890, the RES serves as a platform for economists to share research, facilitate dialogue, and advance economic knowledge through various initiatives and events. The society’s mission encompasses supporting economic research, fostering collaboration among economists, and disseminating economic knowledge to improve policymaking and public understanding.

History and Background

The RES was established with the goal of advancing economic science and its application to policy issues. Over the years, it has grown significantly, attracting a diverse membership that includes academics, researchers, practitioners, and students from around the world. The society has played a key role in shaping the field of economics, publishing influential works and supporting groundbreaking research.

• Founding Year: 1890
• Key Figures: Alfred Marshall, John Maynard Keynes, and other leading economists were instrumental in its formation and early development.
• Headquarters: Based in the United Kingdom, the RES operates globally with members from various countries.

Activities and Contributions

The RES engages in numerous activities aimed at promoting economic research and education. These efforts range from organizing conferences and publishing journals to providing grants and awards.

1. Publications: The RES publishes several renowned journals, including the Economic Journal and the Econometrics Journal, which feature cutting-edge research and analysis in economics.
2. Conferences: The society organizes annual conferences and special events where economists present their research, discuss policy implications, and network with peers.
3. Awards and Grants: The RES provides various awards and grants to support economic research and recognize outstanding contributions in the field. These include the Young Economist of the Year award and research fellowships.
4. Educational Initiatives: The RES offers resources and programs aimed at enhancing economic education at all levels, from schools to universities and beyond.

Why the Royal Economic Society Matters

The RES plays a crucial role in the academic and professional lives of economists, providing a platform for sharing research, fostering collaboration, and advancing the field. Furthermore, the society’s work contributes significantly to policymaking and public discourse on economic issues.

• Support for Research: By funding research and providing platforms for dissemination, the RES helps drive advancements in economic knowledge and understanding.
• Policy Impact: The society’s publications and conferences often influence economic policy by providing evidence-based insights and recommendations.
• Networking Opportunities: The RES facilitates connections among economists, which can lead to collaborations, mentorship, and career development.
• Educational Impact: Through its educational programs and resources, the RES contributes to the development of the next generation of economists.

Frequently Asked Questions (FAQ)

What are some notable publications of the Royal Economic Society?

The RES publishes several influential journals, including the Economic Journal and the Econometrics Journal. These publications feature high-quality, peer-reviewed research covering a wide range of economic topics. The Economic Journal, in particular, is one of the oldest and most respected economic journals globally, known for publishing significant theoretical and empirical work in economics.

How can one become a member of the Royal Economic Society?

Membership in the RES is open to anyone with an interest in economics. Prospective members can apply through the society’s website, choosing the membership category that best suits their career stage and interests. Membership benefits include access to the RES’s publications, discounted conference fees, and eligibility for grants and awards.

What are the key events organized by the Royal Economic Society?

The RES organizes several key events throughout the year, including the Annual Conference, which is one of the largest gatherings of economists globally. The conference features presentations, panel discussions, and networking opportunities. Additionally, the RES hosts workshops, lectures, and special events focused on specific economic topics, often bringing together leading experts to discuss current issues and trends.

How does the Royal Economic Society support young economists?

The RES offers various initiatives aimed at supporting young economists, including the Young Economist of the Year award, which recognizes outstanding research by students. The society also provides research grants, travel bursaries, and mentorship programs to help early-career economists develop their skills and advance their careers. Furthermore, the RES’s conferences and events offer valuable networking opportunities for young economists to connect with established professionals and peers in the field.