What was Franco Modigliani’s academic experience?

Franck Modigliani was born in a Jewish family in Rome, Italy on June 18, 1918. At the age of 17, he entered the University of Rome two years early. The following year, he participated in a national undergraduate essay competition on price control issues in economics organized by the student group Literary. This paper won the first prize.

In addition to winning the award, Modigliani also received something more valuable, which was to determine the direction of studying economics. The reviewers who awarded Modigliani the prize advised him that if he devoted himself to this field, he would become an excellent economist. In June 1936, he received a doctorate in law from the University of Rome.

Soon, as Europe was about to fall into a bloody war, Modigliani and his wife applied for immigrant visas to the United States and arrived in the United States in August 1939, a few days before the outbreak of World War II. New York.

The war made them feel that their stay in the United States would be permanent. So he immediately began thinking about how best to pursue a career in economics. He was lucky enough to get a scholarship to the New School for Social Research in New York. In this way, for three consecutive years starting from the autumn of 1939, he sold European books during the day and studied from 6 to 10 o'clock in the evening. He worked hard both to support his family, who was about to have their first child, and to focus on his passion, economics.

Marschak also invited Modigliani to participate in an informal discussion class held in New York in late 1940 and early 1941. The participating members were A. Wald, T. Koopmans and O. · Lange and others, this experience provided experience for his future development.

In 1941, Marshak left the New School for the University of Chicago, and Modigliani's formal training came to an end. In 1942, while Modigliani was still a graduate student, Marshak helped him get his first teaching position at the College for Women of New Jersey. This work gave Modigliani the financial security he needed to concentrate on his research.