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Faress Bhuiyan

Faress Bhuiyan

  • Associate Professor of Economics, Economics



I spent much of my formative years growing up in a middle-income household in Dhaka, Bangladesh. My interest in development is strongly related to my upbringing there. I left Bangladesh in 2000 and received a bachelors and subsequently masters and doctoral degrees in Economics from Northwestern University (NU), Evanston, IL. Although I began my Northwestern career with the aim of studying Physics and Mathematics, thanks to some incredible economics professors at NU, during my sophomore year, I decided to change my focus towards Economics and Mathematics.

Living in Bangladesh, I have always been astonished by the high degree of conspicuous consumption that people of all socioeconomic backgrounds seem to indulge in. I was convinced very early on that interpersonal comparisons play a major role in individual decisions as they relate to household expenditure, labor supply decision, and migration. Consequently, in graduate school I became increasingly interested in models of interdependent preferences and how they affect individual decisions, subjective well-being and the economy as a whole.  

I am currently studying labor supply trends, subjective wellbeing, rural-urban migration, economic growth and income inequality as it relates to peer based comparison utility, particularly in the context of developing countries. I am also interested in the welfare consequences of bargaining between special interest groups and the government towards choosing patent regimes in a global setting.  I enjoy teaching microeconomics of developing countries, labor economics, and comparative economic systems.  A huge fan of the Bangladesh cricket team, the Argentine soccer team, Barcelona FC and mainstream music, I love playing soccer, cricket, ping pong and listening to music.

Education & Professional History


Ph.D. in Economics, Northwestern University (2010).

M.A. in Economics, Northwestern University (2006).

B.A. in Economics, MMSS (honors) and Mathematics, Northwestern University (2004).

Assistant Professor of Economics, Carleton College (since 2010).

Lecturer, Northwestern University, School of Continuing Studies (2007 - 2009).

Internships/Misc. - Federal Reserve Bank of Chicago, Census Bureau, McGraw-Hill.

Highlights & Recent Activity


Published And Forthcoming Work

“Essays on Relative Consumption, Peers, Labor Supply and Migration.” Doctoral Dissertation, Northwestern University: ProQuest/UMI, 2010 (ProQuest Document ID. 763001007).

“Relative Consumption: A Model of Peers, Status, and Labor Supply,” American Journal of Agricultural Economics, 2013, 95 (2), 368 - 375.

“Extreme Bounds of Subjective Well-Being: Economic Development and Micro-Determinants of Life Satisfaction,” with Radek Szulga, Applied Economics, 2017, 49 (14), 1351 - 1378.

“Mitigating Survey Fraud and Human Error: Lessons Learned from a Low Budget Census in Bangladesh,” with Paula Lackie, IASSIST Quarterly, 2016, 40(3), 20 - 26.

"Alleviating Mental Suffering in Rural Bangladesh: Evidence from a Survey of Three Villages." Alleviating World Suffering. Springer International Publishing, 2017. 109-129.

“The Tangail Survey: Household Level Census of Subjective Well-Being, Perceptions of Relative Economic Position, and International Migration: 2013 [Tangail, Bangladesh],” with Radek Szulga, Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2016-03-23.

"Life Satisfaction and Economic Position Relative to Neighbors: Perceptions Versus Reality." Journal of Happiness Studies, 2017. 1-30.


Work Submitted or In Progress

“Economic Position Relative To Whom? Perceptions and Life Satisfaction in Rural Bangladesh.”

“Catching Up With The Joneses: How Urbanization Affects Inequality, Migration and Well-Being?”

“Micro-entrepreneurship and subjective well-being: Evidence from Bangladesh,” with Artjoms Ivlevs

Organizations & Scholarly Affiliations



  • World Development
  • Applied Economics (Incorporating Applied Financial Economics)
  • Journal of Happiness Studies
  • Economics Journal of International Wellbeing
  • Journal of Economics and International Finance
  • Choice, Association of College and Research Libraries


  • The Happiness Alliance


  • Global Team for Local Initiatives


  • International Society for Quality of Life Studies
  • Midwest Economic Association
  • American Economic Association

  • Western Economic Association International


  • Minnesota Economic Association (past)
  • Winter Break Off-Campus Studies to Bangladesh, Carleton College, MN, USA

As Listed on Department Faculty Pages

Profile updated July 26, 2017

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