Levy Economics Institute Master of Science
in Economic Theory and Policy

Our Director


Jan Kregel

Jan Kregel

Senior Scholar and Monetary Policy and Financial Structure Program Director at the Levy Economics Institute

The Levy Economics Institute Master of Science in Economic Theory and Policy Program is directed by Jan Kregel. An eminent post-Keynesian economist, Kregel previously directed the Policy Analysis and Development Branch of the UN Financing for Development Office and was deputy secretary of the UN Committee of Experts on International Cooperation in Tax Matters.

About the Program

What Makes Us Unique?

The Levy Economics Institute Master of Science in Economic Theory and Policy is part of a long history of curricular innovation at Bard College, an institution known for breaking the barriers between secondary, postsecondary, and graduate education. The program draws on the expertise of Levy Institute scholars and select Bard College faculty, following the hypotheses of the late Levy Institute Distinguished Scholars Hyman Minsky (financial fragility and financial structure) and Wynne Godley (stock-flow consistent macromodeling).

The M.S. integrates the research enterprises of the Levy Institute into the academic life of the College. Students in the program—to an extent rare even in graduate programs at major research universities—experience their education as a practicum due to the close links between the Institute’s research agenda and the program’s core curriculum. All students participate in a graduate research practicum at the Institute, benefitting from the permanent residency of prominent researchers and the ongoing opportunities to engage with outside policy makers through the Institute’s various research partnerships. The limited enrollment and small class sizes allow students to contribute substantially to every discussion, and to develop close working and advising relationships with their instructors.

The M.S. program also offers a 3+2 dual-degree option for undergraduates, leading to both a liberal arts degree (B.A.) and a professional degree (M.S.) in five years. The 3+2 option enables highly motivated students to expedite completion of the graduate degree while also strengthening the undergraduate curriculum for students outside the M.S. program.

Intimate Program

Small class sizes empower students to contribute substantially to each and every discussion. Moreover, the intimacy of the program allows students to develop close working and advising relationships with their instructors. Professors at the Levy M.S. program are extremely accessible, and they consider themselves mentors, not just teachers. The small size of the program allows them to respond quickly to the needs and concerns of their students.

Bard College

Bard College is a four-year residential college of the liberal arts and sciences with a 150-year history of academic excellence. From its main campus in the Hudson River Valley of New York State, the College offers a B.A. with concentrations in more than 40 academic programs. Bard also operates high school/early college and graduate programs, and has expanded to encompass a network of regional, national, and global satellites. Bard programs are rooted in an allegiance to free speech, civility, dissent, and the traditions of scientific and speculative inquiry.

The Levy Economics Institute

Founded in 1986, the Levy Economics Institute of Bard College is a nonprofit, nonpartisan, public policy research organization. The Levy Institute is independent of any political or other affiliation, and encourages diversity of opinion in the examination of economic policy issues while striving to transform ideological arguments into informed debate. The Institute disseminates its findings to an international audience through publications, conferences, workshops, seminars, congressional testimony, and other activities.