Abstract: On October 10, 2011, the Royal Swedish Academy of Sciences awarded the Nobel Prize in Economic Sciences to Professor Christopher A. Sims and Professor Thomas J. Sargent for their work on the interactions between the macroeconomic policies as well as the effects of such policies. This paper presents brief introductions to the two economists, such as their academic experiences, their academic works and research papers, emphasizing the research method and their analytical framework for macroeconomic policies, and the development and application of the models of recurrence and vector autoregression. This article appraises their academic contributions briefly, hoping to find more significant inspirations for the implementation of macroeconomic policies.

Key words: Thomas J. Sargent, Christopher A.Sims, macroeconomic policy, recurrence model, vector auto regression model