Stokey received her BA from the University of Pennsylvania in 1972 and her PhD from Harvard in 1978. Before joining the Chicago faculty in 1990, she taught at Northwestern’s Kellogg Graduate School of Management, where she was the Harold Stuart Professor of Managerial Economics. Stokey is the Frederick Henry Prince Professor in Economics.
Stokey is a member of the National Academy of Sciences, a fellow of the American Academy of Arts and Sciences, and a fellow of the Econometric Society. She has served as vice president of the American Economic Association and as co-editor of the Journal of Political Economy and of Econometrica. An expert on economic theory and economic development, Stokey examines the impact education and job training have on the development of national economies. She has shown that economies expand when workforces acquire more complex skills, moving, for instance, from manufacturing into high technology. She is the author of numerous papers on economic growth and related issues and is co-author of Recursive Methods in Economic Dynamics (1989), a book about the modelling techniques that are widely used in macroeconomics and other areas where dynamic issues play a key role.