HYDE PARK - Sitting in the front row of class has finally paid off for first-year MBA student Noel Lindeman. A groundbreaking comment made during his introductory Microeconomics course is widely expected to earn him the Nobel Prize in Economics.
Lindeman was able to identify a link between the price of a good and the quantity sold, a relationship extensively misunderstood until this past week. Economists have already dubbed the concept the “Lindeman Curve.”
“I knew I was onto something,” recounted a smug Lindeman. “It just seemed like when the price went down, people would want to buy more. So that’s exactly what I said.”
Despite being an introductory economics course, and having no prior experience in economics, Lindeman seems to have drawn a unique conclusion that escaped the thousands of students before him.
Lindeman’s professor, Alex Frankel, described the remark as revelatory. “I wasn’t asking the class for comments, but he just stuck his hand up there like he had something to say. And boy did he,” recalled Frankel.
“You always hope those front-row students will make even more unsolicited contributions to class discussions, and Noel really came through on this one.”
Lindeman’s peers were floored by his insight. “A hush came over the room as soon as he said he wanted to piggyback off of my comment,” said classmate Jorge Rodriguez. “I just hope I get to wear his medal once or twice.”
The Nobel prize consensus was reached after scrutiny from a panel of international economic scholars left Lindeman as the clear winner. Chairman Sjvenrik Malksjizen of the Swedish Nobel committee described Lindeman’s contribution as “brazen genius unknown to mankind.”
Lindeman follows a long line of Nobel prize winners in the UChicago community, and becomes the eighth winner at Chicago Booth.
“We are thrilled to have another Nobel Laureate in the Booth Community,” said Dean Sunil Kumar. “I have volunteered to personally paint Noel’s portrait for our school’s gallery.”
Lindeman was also considered for the Nobel Peace Prize for his consequent contribution to world economic improvement. This year’s award is generally expected to be awarded to Chad Evans, however, a second-year student who broke up a bar fight at Social 25 in early 2015.