
Milton Friedman
"The wide range of insightful and socially relevant analyses that this group of economists has generated...is testimony to the vitality and quality of this Chicago Initiative."
— Mr. Richard O. Ryan, MBA’66
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The University of Chicago has a long and illustrious research tradition that combines rigorous economic thinking and careful, data-driven analysis.
This Chicago-style approach, often known as “Price Theory” because of the fundamental role that prices often play, has shed light not only on the most fundamental topics of traditional economics (e.g. consumption, saving, taxation, regulation), but also pioneered the use of economic tools in studying a wide range of other human behavior (e.g. crime and corruption, discrimination, marriage).
It is exemplified in the path-breaking work, among others, of Gary Becker, Ronald Coase, Milton Friedman, Sherwin Rosen, George Stigler. Read more>