Feldstein Says Farewell

Baker Professor of Economics Martin S. Feldstein ’61 gave his last goodbyes to both his current Ec10 students and the Ec10 program yesterday.

Addressing a large crowd of current students, colleagues, and admirers, Feldstein spoke about the virtues of the Ec10 program and answered questions submitted by current students.

As of next year, teaching responsibilities for Ec10 will be assumed by Freed Professor of Economics N. Gregory Mankiw, the former chair of the Council of Economic Advisers and author of the textbook used by Ec10.

Feldstein will continue teaching courses in the Economics Department.

Standing on the stage of Sanders Theatre with his hands in his pockets and an uncapped Poland Spring bottle at his side, Feldstein began his lecture by remarking on the day’s significance.

“Today is a very special occasion for me. Not only is it the last Ec10 lecture of the year, but also the last lecture I will give as the head of this course,” said Feldstein, who was quickly interrupted by an outburst of applause.

Feldstein continued, reflecting on the evolution and significance of the course. “I’ve had the privilege of teaching Ec10 for the past 21 years and I think that Ec10 is the most important economics course, not only at Harvard College, but anywhere,” he said.

Feldstein also praised the capitalist market system, in keeping with the conservative bent for which he has become so well-known.

Toward the middle of his lecture, Feldstein fielded a range of questions, both technical and personal, that students had submitted through e-mail.

While Feldstein gave serious responses to the questions regarding economics, he kept the mood fairly light with humorous anecdotes about his time spent with Ronald Reagan and his beagle’s knowledge of economics. He cracked a few unexpected jokes, winning laughter from the crowd.

Feldstein closed his lecture with thanks and encouraged students to take more courses in economics, which he believes to be one of the strongest of Harvard’s disciplines.

After Feldstein closed his remarks, Brian J. Hall ’86, a professor at Harvard Business School and head section leader of Ec10 from 1992 to 1995, commented on Feldstein’s dedication to teaching.

“[Feldstein] is a giant, not just because of his ideas, but because of his excitement about the ideas themselves,” he said.

Ropes Professor of Political Economy and Economics Department Chair Alberto F. Alesina awarded Feldstein a plaque that had been signed by section leaders and students.

Then the Din & Tonics rushed the stage and presented Feldstein with a large Bombay Sapphire gin and tonic.

Amidst their serenades of “Oh, here’s to Marty Feldstein” and “Drink and drink and drink and drink,” students gave a standing ovation.