Stiglitz is a renowned scholar and teacher of a new branch of economics that he created, the "Economics of Information." Recognized around the world as a leading economic educator, he has written textbooks that have been translated into several dozen languages. Professor Stiglitz accepted a joint appointment to a chaired professorship at Columbia Business School, the Graduate School of Arts and Sciences and the School of International and Public Affairs in the spring of 2001. He is also the recipient of the prestigious John Bates Clark Medal. In 2001, he was awarded the Nobel Prize in Economics for the analysis of markets with asymmetric information.