Shupp, Franklin R.

YEARS IN THE DEPARTMENT:

1959-1999

RESEARCH INTEREST:

Macroeconomic Theory & Policy

BIOSKETCH:

Franklin R. Shupp came to the University of Illinois in 1959, joining the faculty of the Department of Economics as Assistant Professor. He would progress through the academic ranks to achieve full professor in 1970.

Professor Shupp earned his Ph.D at Princeton University, and would ultimately teach at Illinois for 40 years. His scholarly research and writings spanned such topics as Microeconomic and Macroeconomic Theory and Policy, Income Inequality, and Monetary Theory and Policy. He would publish many articles in professional journals, including his landmark “Uncertainty and Optimal Wage Price Controls.”

Professor Shupp was instrumental in shaping economic policy under the Nixon administration, serving as Visiting Senior Economist with the Federal Reserve Board in 1970-71, when he examined and made recommendations on wage and price controls. In addition, he would serve as a Consultant to the Joint Economic Committee under the U.S. Congress from 1978 to 1980.

He was Director of Graduate Studies at Illinois from 1977 to 1981, and Chair of the Department of Economics from 1986 to 1988. That year, the Department voted to establish a headship form of governance, naming Professor Shupp its first Department Head in forty years.

Divisiveness and internal politics, contributing to the loss of senior faculty, had characterized the Department for much of the 80's. Under Professor Shupp's lead, the Department saw substantive improvements in cohesiveness, morale, and its best recruiting record in at least a decade.

In 1999, Franklin R. Shupp would retire. He would do so at his choosing, without formal acknowledgement, and would go on to continue his teachings at the University of Capetown, South Africa.

PHD:

Princeton University, 1959

SELECTED PUBLICATIONS:

Shupp, Franklin R. Uncertainty and Stabilization Policies for a Nonlinear Macroeconomic Model. Washington: Board of Governors of the Federal Reserve System, 1970. Print.
Shupp, Franklin R. "Policy Effectiveness and the Divergence of Objectives of Private Agents and Public Authorities." Keynesian Theory, Planning Models and Quantitative Economics: Essays in Memory of Vittorio Marrama / Giancarlo Gandolfo, Ferruccio Marzano Editors. (n.d.). Print.
Shupp, Franklin R. Programming As a Guide to National Problems. , 1960. Print.
Hudgins, David L, and Franklin R. Shupp. A Macroeconomic Analysis of Sectoral Price Movements in the United States. Urbana, IL: University of Illinois, 1993. Internet resource.
Shupp, Franklin R. "Growth and Income Inequality in South Africa." Journal of Economic Dynamics & Control. 26.9 (2002): 1699. Print.

VITA: