It is obvious to everyone around him that Tobin will become the leading economist of his generation after receiving his doctorate. Yale University soon realized his talent and sent him a more enthusiastic invitation than Harvard University. When Tobin's economics department made Yale University famous in economics, it was his initial gratitude to Yale University. The key factor of Tobin's transfer to Yale University at this time is that the Cowles Committee moved here. Cowles Economic Research Committee, originally located in the University of Chicago, is the academic research center of postwar mathematical economics and econometrics. People who have worked in this association include kenneth j. arrow, herbert simon and Lawrence Lane. Tobin was the director of Yale Foundation from 1955 to 196 1 and 1964 to 1965.