SALT LAKE CITY — The billionaire conservative Koch brothers and Utah’s wealthy Eccles family are giving a combined $20 million to the University of Utah to create an economics and quantitative analysis institute.

The school will be called the Marriner Stoddard Eccles Institute for Economics and Quantitative Analysis. It’s named after Utah native Marriner Eccles, a banker and chairman of the Federal Reserve from 1934 to 1948.

The university said in a statement Thursday that the school’s research and instruction will include studies of economics, game theory, econometric and quantitative analysis.

The Koch brothers, known for pouring hundreds of millions into backing conservatives and libertarian causes, also gave $25 million to Utah State University earlier this year, on top of more than a million in past donations.

Author photo
The AP is one of the largest and most trusted sources of independent newsgathering. AP is neither privately owned nor government-funded; instead, as a not-for-profit news cooperative owned by its American newspaper and broadcast members, it can maintain its single-minded focus on newsgathering and its commitment to the highest standards of objective, accurate journalism.