Description: Any definition of the "Chicago School" would have to find room for the following ideas: the economic theory of socialism, general equilibrium theory, general equilibrium models of foreign trade, simultaneous equation methods in econometrics, consumption as a function of permanent income, the economics of the household, the rationality of peasants in poor countries, the economics of education and other acquired skills (human capital), applied welfare economics, monetarism, sociological economics (entrepreneurship, racial discrimination, crime), the economics of invention and innovation, quantitative economic history, the economics of information, political economy (externalities, property rights, liability, contracts), the monetary approach to international finance, rational expectations in macroeconomics, and mechanism design. Indeed, the University of Chicago is home to an unusual innovation. The proportion of new ideas in economics over the last forty years that have emanated from or become associated with Chicago is astonishing. The University of Chicago department, considered one of the world's foremost economics departments, has fielded more Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel laureates and John Bates Clark medalists in economics than any other university.
Popular Classes: Game Theory: A Formal Approach, Theory of Auctions, Business Ethics in Historical Perspective, Innovators, Money and Banking, Pay and Performance, Public Finance, The Economics of Crime   |   Full List of Economics Classes»
Undergraduate Progam: The B.A. program in economics is intended to equip students with the basic tools to understand the operation of a modern economy. The design of the major relies heavily on mathematics & statistics.   |   More Program Details»
Graduate Programs: Chicago has an unexcelled Ph.D. program, with recent graduates employed at numerous top-ranked universities, private firms, and such agencies as the World Bank, the IMF, among others.   |   More Program Details»