Elizabeth M. Clayton joined the Department of Economics in 1968 after receiving her Ph.D. from the University of Washington (Seattle). She was professor of economics from 1968 until she retired in 1992. She also served as Associate Vice Chancellor for Research at UMSL.
Elizabeth Clayton won the "triple crown" in economics as the first female professor hired, first female promoted and granted tenure, and first female to serve as department chair. She inspired many students and was a valued colleague in the department. In 1997, she received the University's Women Trailblazers Award. She was a specialist in Soviet economics, especially of the agricultural sector. During her career, she was a fellow at Harvard University Law School, the Woodrow Wilson International Center for Scholars, and Moscow State University. She passed away in June 1999 after a battle with cancer.
Each semester or year the department awards a scholarship to the student who demonstrates academic excellence. This scholarship is named in memory of Elizabeth M. Clayton.