Mario Draghi, the former president of the European Central Bank and former prime minister of Italy, has been named winner of the Miriam Pozen Prize for his work in international finance by the MIT Golub Center for Finance and Policy.
Mr. Draghi, who earned his Ph.D. in economics from the Massachusetts Institute of Technology, Cambridge, will receive the award in June at a ceremony at MIT and deliver an address on finance and economics.
The Miriam Pozen Prize is named for the late mother of Robert C. Pozen, who is a senior lecturer at MIT Sloan School of Management and the former president of Fidelity Investments and executive chairman of MFS Investment Management.
Mr. Pozen funds the $200,000 prize, which is granted every two years. In addition, a fellowship named in Mr. Draghi's honor will be awarded to an incoming MBA student at the Sloan School of Management.
Mr. Draghi is the second recipient of the Miriam Pozen Prize. The first was Stanley Fischer, who has held senior positions at the Federal Reserve, International Monetary Fund and World Bank as well as having conducted research at MIT and the University of Chicago.
"When I was a graduate student at MIT in the 1970s, I could not imagine the career which my education helped to launch," Mr. Draghi said in a news release issued by the Golub Center. "I hope that this award inspires a new generation of economists to enter the public policy fray."
In the news release, Mr. Pozen praised Mr. Draghi's career. "He combines the insights of an academic practitioner with the willingness to apply his beliefs to policymaking," Mr. Pozen said. "He is a model for the integration of financial theory and practice that the Miriam Pozen Prize is intended to encourage."