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Immigrant Profile: Raghuram Rajan

Background

Raghuram Govind Rajan was born in Bhopal city, India on February 3, 1963. He was born to a former Indian intelligence officer R. Govindarajan and his wife. Rajan was the couple’s third child.

He attended school at the Delhi Public School and went on to earn his degree at the Indian Institute of Technology. He was given the Director’s Gold Medal in 1985 when he graduated with his electrical engineering degree from the Ivy League institution.

Immigration to the United States

Rajan migrated to the United States to study for his Ph.D. at MIT’s Sloan School of Management. He successfully completed his dissertation in 1991 on “Essays on Banking” and was awarded his doctoral degree in Management.

Professional Background & Achievements

Rajan received a number of awards to include the Fischer Black Prize awarded by the American Finance Association in 2003. The award is given to young economists for their exceptional work in finance.

Contribution to the U.S. Economy

Rajan also made several contributions in the field of economics for the United States, including the prediction of economic turmoil the US experienced in 2008-2012. He was ridiculed about his predictions until the crisis happened in both the United States and Europe, which solidified his prediction and his place as one of the greatest economists who has ever lived.

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