Robert Mundell, CC, Ph.D., Ll.D., winner of the Nobel Memorial Prize in Economic Science in 1999, is University Professor at Columbia University, where he has taught since 1974. He is knownas an authority on international monetary systems, macroeconomic policy management, exchange rate systems, supply-side economics, transition economies and monetary history. Among many contributions to economics, Mundell is known as the father of the theory of optimum currency areas; he was instrumental in developing the standardi nternational macroeconomics (Mundell-Fleming) model; he was a pioneer in the formulation of the optimal monetary and fiscal policy mix for internal and external balance; he reformulated the theory of inflation and interest; he was an originator of the monetary approach to the balance of payments; and he was a founder of supply-side economics. He has written extensively on the history of the international monetary system and on the economics of the transition economies. Robert Mundell, CC, Ph.D., Ll.D., winner of the Nobel Memorial Prize in Economic Science in 1999, is University Professor at Columbia University, where he has been taught since 1974. He is known as an authority on international monetary systems , macroeconomic policy management, exchange rate systems, supply-side economics, transition economies and monetary history. Among many contributions to economics, Mundell is known as the father of the theory of optimum currency areas; he was instrumental in developing the standardi nternational macroeconomics ( Mundell-Fleming) model; he was a pioneer in the formulation of the optimal monetary and fiscal policy mix for internal and external balance; he reformulated the theory of inflation and interest; he was an originator of the monetary approach to the balance of payments; and he was a founder of supply-side economics. He has written extensively on the history of the international monetary system and on the economics of the transition economies.