The International Economic Association (IEA) is one of the most respected global organizations dedicated to the study and advancement of economics. It was founded in 1950 under the auspices of UNESCO with the purpose of promoting international collaboration among economists and fostering a better understanding of global economic issues through dialogue, research, and education. The IEA brings together national economic associations and individual scholars from around the world, creating a diverse and inclusive community that represents the international nature of economics as a discipline.
The IEA confers several major honors that recognize outstanding contributions to economics, the most notable being the IEA Fellow Award and the Schumpeter-Haberler Distinguished Fellow Award. These awards celebrate scholars whose work has significantly influenced economic thought, policy, and education on a global scale.
The IEA Fellow Award honors economists who have demonstrated excellence across various areas of the profession, including research, teaching, policy engagement, and mentorship. It acknowledges both intellectual contributions and service to the global economics community. Fellows are chosen based on their originality of thought, academic influence, and the social impact of their work. The selection process emphasizes international diversity and gender balance, ensuring that economists from all regions and backgrounds are represented. Being named an IEA Fellow is a mark of high distinction, symbolizing recognition by peers worldwide.
The Schumpeter-Haberler Distinguished Fellow Award is the IEA’s most prestigious distinction. Named after two eminent economists, Joseph Schumpeter and Gottfried Haberler, it recognizes lifetime achievements and profound contributions to economic science. The award is presented every three years at the IEA World Congress, a major global gathering of economists. Recipients of this honor are scholars whose research has shaped fundamental economic ideas, influenced policy at the international level, and advanced the discipline across national boundaries.
In addition to these major recognitions, the IEA also supports awards that encourage younger economists and researchers from developing countries. The Stiglitz Essay Prize, named after Nobel laureate Joseph E. Stiglitz, invites essays from students and early-career researchers on pressing global economic issues. It aims to nurture critical thinking and creativity in economic analysis. Another important program is the ADB-IEA Innovative Policy Research Award, established in collaboration with the Asian Development Bank. This award recognizes outstanding policy-oriented research that addresses economic challenges in Asia and other developing regions, often accompanied by a monetary prize and publication opportunities.
These awards reflect the IEA’s mission to build a truly global platform for economic dialogue and discovery. They celebrate scholars whose ideas go beyond borders, bridging theory and practice while fostering inclusive and sustainable economic development. Recipients of IEA awards often include leading academics from top universities, as well as policy advisers and economists who have influenced international institutions such as the World Bank, IMF, and United Nations.
Through its awards and fellowships, the IEA reinforces its founding vision: to unite economists from different traditions, regions, and schools of thought in pursuit of knowledge that benefits humanity. The honors it bestows—whether for lifetime achievement, innovative policy research, or scholarly promise—symbolize excellence, diversity, and the global spirit of economics.