In 1892, the regents appointed Fred M. Taylor assistant professor of political economy, making him the second professor in the department (Henry Carter Adams being the first). In 1921, Taylor was appointment as successor to Adams (who had retired) as department chair. Taylor served as chair from 1921-1924. Taylor’s textbook Principles of Economics would have nine editions between 1911 and 1925. He retired in 1929.The Fred M. Taylor Fellowship in Economic Theory is a highly competitive award program that covers tuition for three terms, GradCare health insurance, and a stipend. For the purpose of this award, "Economic Theory" is to be interpreted broadly. There is one recipient of this departmental award every other year.
Mike Zabek is a PhD candidate in Economics at the University of Michigan. He is interested in labor economics, macroeconomics, and urban economics. His current research projects look at the impact of technological change on unskilled workers, migration responses to local economic shocks, and the implications of income inequality in the market for housing. Originally from Vermont, Mike received a BA from Kenyon College with majors in math and economics.