Richard Lee "Dick" Schmalensee (born 1944) is the Howard W. Johnson Professor of Management, Emeritus at the MIT Sloan School of Management. He is also Professor of Economics, Emeritus, at the Department of Economics at MIT. He served as the John C Head III Dean of the MIT Sloan School of Management from 1998 through 2007. He was a member of the President's Council of Economic Advisers from 1989 through 1991 and served 12 years as Director of the MIT Center for Energy and Environmental Policy Research. Schmalensee received his S.B. and Ph.D. in Economics from MIT.