Prof. Stephen G. Cecchetti (IBS) received an honorary doctorate at the University of Basel’s 556th Dies Academicus on Nov. 25.

The Swiss university praised his expertise and contributions to both the theoretical and practical sides of economics.

The annual Dies Academicus commemorates the University of Basel’s opening, which took place in 1460, making it the oldest university in Switzerland.

After meeting at the Natural History Museum of Basel, academics proceed to St. Martin’s Church.

There, the university’s president presents the “Dies speech” and faculty members award honorary doctorates.

In traditional beret-and-gown attire, Basel Professor Aleksander Berentsen awarded Cecchetti an honorary doctorate from the Faculty of Business and Economics. Seven others received the same honor.

“The faculty decided to honor [Cecchetti] because he has chosen to not just do research but to contribute to improving the global financial system,” said University of Basel former Dean of Economics and Business Yvan Lengwiler in a Jan. 4 IBS article. “We highly value the reflection of problems and the conducting of research — but we also highly value people who take informed action.”

An expert in central banking, financial regulation and monetary policy, Cecchetti taught at Brandeis from 2003 to 2008 before assuming a position at the Bank for International Settlements in Basel. There, he worked as Economic Adviser and Head of the Monetary and Economic Department from 2008 to 2014. After finishing up his term, he returned to his teaching position at Brandeis, where he is currently a professor of International Economics.

—Peri Meyers