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He was Director of the Institute for Fiscal Studies from 1991 to 2002. He is an Honorary Fellow of St Johns College, Oxford and of the Institute of Actuaries, and holds an Honorary Doctorate from City University. His main research interests lie in government economic policy as it affects individuals, organisations and the wider economy. As well as teaching at Oxford, he as also taught at University College London, the London School of Economics and overseas. He was awarded a CBE in 2000 for services to economicsEconomics is the social science studying how society uses its limited resources to meet desires and wants. Put otherwise, economics studies what, how and for whom society produces. This involves analyzing the production, distribution and consumption of go and economic policy.