Oct. 23, 1997
KALAMAZOO -- An expert on econometrics--the application of statistical techniques to economics--will speak at Western Michigan University Wednesday, Nov. 5, as part of its Visiting Scholars and Artists Program.
Dr. Peter Schmidt, professor of economics at Michigan State University, will speak at 3:30 p.m. in Room 3508 of Knauss Hall. The title of his free talk is "Measurement of the Efficiency of Production."
Schmidt has earned University Distinguished Professor status at Michigan State, where he has taught since 1977. In his lecture, he is expected to summarize the theoretical basis for the measurement of efficiency of a firm. Companies are considered to be efficient if they are earning the maximum possible profit, given the economic environment they face. Schmidt will discuss both the statistical approach and the mathematical programming approach to this measurement.
Schmidt's lecture is being coordinated by the Department of Economics. For more information, persons may contact Dr. Matthew L. Higgins at 616 387-5543.
The Visiting Scholars and Artists Program was established in 1960 and has supported some 500 visits by scholars and artists representing more than 65 academic disciplines. The chairperson of the committee that oversees the program is Dr. Linda L. Dannison, chairperson of the Department of Family and Consumer Sciences.
Office of University Relations
Western Michigan University
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Kalamazoo MI 49008-5433 USA