Section of Economics
The section of economics is specifically called Keio Economic Observatory(KEO). The projects of KEO include those on quantitative price theory, econometric model building, input-output economics, labor economics, international trade theory, analysis of futures markets and environmental studies. The main feature of KEO lies in the attempt to understand the economy in the same sense as the astronomer observes the universe and to develop the theory from empirical observations. KEO aims not only to close the gap between mathematical theories and current economic phenomena, but also to establish the testable economic theory for possible policy alternatives.
KEO Multi-Sectoral Econometric Model is based on the research projects such as "quantitative theory of labor supply" and "input-output analysis and scale economy" and it has formed a prototype of the Japanese government's economic planning model.
KEO is also interested in international joint research. For example, the International Comparisons of Productivity and the U.S.-Japan Econometric Model Building are with a Harvard University's professor, and the research project on futures and options markets is with a University of Virginia's professor. As a result, many researchers have been invited to stay at the Institute as visiting scholars.