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  • University of Chicago Department of Economics
    Economics Review 102 6 2955 80 Testing for Altruism and Social Pressure in Charitable Giving DellaVigna Stefano John A List and Ulrike Malmendier 2012 The Quarterly Journal of Economics 127 1 1 56 On the Asymptotic Optimality of Empirical Likelihood for Testing Moment Restrictions Kitamura Yuichi Andres Santos and Azeem M Shaikh 2012 Econometrica 80 1 413 23 Stakes Matter in Ultimatum Games Andersen Steffen Seda Ertaç Uri Gneezy Moshe Hoffman and John A List 2011 American Economic Review 101 7 3427 39 Optimal Price Setting With Observation and Menu Costs Alvarez Fernando E Francesco Lippi and Luigi Paciello 2011 The Quarterly Journal of Economics 126 4 1909 1960 Estimating Marginal Returns to Education Carneiro Pedro James J Heckman and Edward J Vytlacil 2011 American Economic Review 101 6 2754 81 View all selected publications News Heckman Receives Madison Medal Prof James J Heckman has been named this year s recipient of the James Madison Medal Princeton University s highest alumni honor in recognition of his distinguished scholarship and public service Heckman s work provides a valuable foundation for policymakers according to Sanjeev Kulkarni dean of Princeton s Graduate School his recent work shows the enormous benefits of investing in early childhood education Justin Mikolay president of the Association of Princeton Graduate Alumni emphasized that Prof Heckman has related his specialized knowledge to more and more general problems and as a result many others are applying his scholarship for the common good Read full story List and Greenstone Elected Econometric Society Fellows The Econometric Society welcomes Department of Economics faculty Chair Prof John List and Prof Michael Greenstone as newly elected Fellows Society Executive Vice President Bernard Salanié calls their election a fitting recognition of their highly regarded contributions to Economics The Econometric Society is an international organization for the advancement of economic theory in its relation to statistics and mathematics Moll Wins EIB Young Economist Award Our congratulations to Benjamin Moll Econ PhD 10 this year s recipient of the European Investment Bank s Young Economist Award Moll currently Assistant Professor of Economics and International Affairs at Princeton will present a keynote lecture and receive the prize this November at the EIB Economics of Inequality and Economic Growth Awards Ceremony in Luxembourg List Named 2015 Thomson Reuters Nobel Pick We are proud to announce that Department Chair John List has been named a 2015 Thomson Reuters Citation Laureate for his contributions to the field of economics The international news and information organization grants the honor to highlight the significance of the scholar s work in the scientific community based upon the number of times fellow researchers have chosen to cite their published papers Importantly Citation Laureates are commonly known as Thomson Reuters Picks for the Nobel Prize in recognition of the frequency with which honorees become future Nobel recipients Read full story Greenstone Cleaner Air Leads to Longer Lives In a New York Times editorial Michael Greenstone argues that reductions in smog and air pollution over the past 45

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  • University of Chicago Department of Economics | Contact Us
    is 5757 S University Avenue Chicago Illinois 60637 Please consult UChicago Maps for a comprehensive map of campus Parking information is available at UChicago Maps and UChicago Safety and Security For General Information about the Ph D program and or the admissions process please contact the Division of Social Sciences Admissions office at 773 702 8415 For undergraduate program information please contact the Undergraduate Admissions office in Rosenwald Hall at 773 702 8650 Department Chair Professor John List Executive Assistant Diana Smith 773 702 8176 Department and Faculty Affairs Sherry Manick Director of Finance Operations and Personnel 773 834 1679 Office SHFE 403 Student Affairs Robert Herbst Student Affairs Administrator 773 834 1972 Office SHFE 511 Julie Wong Undergraduate Advisor 773 834 6672 Office SHFE 106 Ottilie Young Graduate Student Affairs Administrator 773 702 2722 Office SHFE 510 Center for the Economics of Human Development Alison Baulos Executive Director Center for the Economics of Human Development 773 834 0761 Office 5750 S Woodlawn Ave Room 281 Energy Policy Institute at Chicago EPIC Emma Berndt Executive Director Urban Energy Environment Lab 773 795 1244 Office SHFE 354 Bethel Haile Executive Assistant for EPIC 773 702 0627 Office SHFE 353 Samuel Ori Executive Director Energy Policy Institute at Chicago 773 795 1238 Office SHFE 355 Administrative Clerical Staff Ada Barbosa SHFE 438B 773 702 6576 Assistant to Levitt Mulligan Myerson Shaikh Van Weelden Voena Workshop Economic Theory LeeAnn Bartolomei SHFE 400E 773 702 4862 Assistant to Brooks Lamadon Tintelnot Workshop Econometrics Virginia Bova SHFE 438A 773 702 8191 Assistant to Alvarez Bonhomme Lucas Murphy Telser Tolley Workshops Application of Economics Economic Policy and Public Finance Family Economics Workshop Sonia Doyle Executive Assistant to Uhlig Neal SHFE 420 773 702 9013 Alannah Hoefler Assistant to Hickman Lopes de Melo Mogstad Reny Weyl SHFE

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  • University of Chicago Department of Economics | News
    article Economics Welcomes New Faculty Brooks Lamadon We are pleased to announce that Benjamin Brooks Princeton and Thibaut Lamadon UCL will be joining us as Assistant Professors in the Department of Economics and the College Brooks whose research focuses on microeconomic theory will be a Becker Friedman Research Scholar for two years and joins the department in July 2016 Lamadon will be a BFI Research Scholar for one year and will join our faculty in July 2015 His research focuses on macro labor dynamic contracting equilibrium search and applied econometrics Gary Becker 1930 2014 Professor Gary Becker University of Chicago 1955 passed away on Saturday May 3 2014 He started his career as an Assistant Professor at the University of Chicago from 1954 1957 He joined Columbia University in 1957 as an Assistant Professor was promoted to Associate Professor and then full Professor in 1960 becoming the Arthur Lehman Professor of Economics in 1968 In 1970 he returned to University of Chicago as University Professor He served as Department of Economics Chairman in 1984 85 He held a joint appointment in Sociology and the Booth School He was also the Rose Marie and Jack R Anderson Senior Fellow at the Hoover Institution since 1990 Gary received many awards for his work He received the John Bates Clark Medal in 1967 He was elected Fellow of the American Academy of Arts and Sciences in 1972 He served as President of the American Economic Association in 1987 He was awarded the Nobel Memorial Prize in Economic Sciences in 1992 for having extended the domain of microeconomic analysis to a wide range of human behavior and interaction including nonmarket behavior He received the National Medal of Science in 2000 for his work in social policy and received the Presidential Medal of Honor in 2007 He was a pioneer in the fields of human capital economics of the family and economic analysis of crime discrimination addiction and population He was a featured columnist for Business Week and coauthor of the Becker Posner Blog with Richard Posner senior lecturer at the University of Chicago Law School A memorial service is being planned Read full article here Werning Colleagues Remember Becker Associates and former students share fond memories of the late Nobel Laureate in Un Muro en Memoria de Gary S Becker published in the Latin American blog Foco Económico Heckman Awarded Frisch Medal Professor James Heckman will receive this year s Frisch Medal for his paper Estimating the Technology of Cognitive and Noncognitive Skill Formation The Econometric Society cites the work as a comprehensive framework for analyzing the evolution of cognitive skills and personality traits across the different stages of childhood a powerful demonstration of the value of formal methods in elucidating policy questions of the highest importance Greenstone Elected to AAAS Professor Michael Greenstone is one of this year s newly elected members of the American Academy of Arts and Sciences one of the nation s most prestigious honorary societies His research focuses largely on the economics of environmental quality and energy policy including a large scale project seeking to estimate the costs of climate change around the world Read full story Myerson What is Putin s Secret Weapon Russia s President Vladimir Putin can seemingly muster crowds of secessionist supporters in Ukraine with a wave of his hand in the Kremlin Nobel Laureate Roger Myerson analyzes the forces in play and how Putin cultivated his powerful web of influence in this Huffington Post essay 30 Top Thinkers Under 30 Glen Weyl Spotlighted in Pacific Standard s 30 Top Thinkers Under 30 E Glen Weyl talks candidly about his academically and politically active youth his mentors and future plans and how quadratic voting could refit the social machine Myerson A Way Forward for Ukraine In The New York Times Nobel Laureate Roger Myerson with co authors Tymofiy Mylovanov and Scott Gehlbach addresses Ukraine s turbulent transition to independent democracy Myerson proposes that changing Ukraine s constitution to allow local selection of governors rather than its current regime of centralized appointments would create a pool of national politicians with reputations for governing responsibly allaying Eastern Ukraine s fear of Western domination and reducing instability that invites Russian intervention Learn more about the Myerson and Mylovanov Initiative at the Kyiv Post and the Ukraine Crisis Media Center Glen Weyl on the ACA s Future In a recent Slate op ed E Glen Weyl recommends less competition not more as a way to save health insurance exchanges under the Affordable Care Act Read full article Glen Weyl receives 2014 Alfred P Sloan Foundation Research Fellowship We are pleased to announce that E Glen Weyl has received the Alfred P Sloan Foundation Research Fellowship for 2014 View details Economics Department Welcomes New Faculty Member We are pleased to announce that Michael Greenstone Princeton will be joining us on July 1 2014 in the rank of Professor in the Department of Economics and the College Michael will also serve as Director of the interdisciplinary Energy Policy Institute at Chicago He began his career in 2000 as an Assistant Professor in our department He left in 2003 to accept an Associate Professor position at MIT In 2009 10 he served as the chief economist at the White House s Council of Economic Advisers Full story here Ronald Coase Institute Receives 2013 Fisher Award The Atlas Network announced its 2013 Sir Antony Fisher International Memorial Award winner the Ronald Coase Institute for the book How China Became Capitalist written by late Professor Ronald Coase and co author Ning Wang Dr Wang accepted the prize on behalf of the Institute at the Nov 13th ceremony in New York City More details here HANSEN RECEIVES NOBEL PRIZE The Department of Economics proudly announces that Professor Lars Peter Hansen David Rockefeller Distinguished Service Professor has received the Nobel Prize in Economic Sciences Hansen pioneered the development of econometric methods to tackle the world s most difficult questions He has applied these methods to study the determinants of consumption savings and security market prices lending powerful insights into how various policy proposals affect the economy His seminal paper Large Sample Properties of Generalized Methods of Moments Estimators importantly altered the landscape for how empirical research is done in finance and macroeconomics Hansen shares this year s prize with fellow University of Chicago Professor Eugene F Fama Video slideshow and full story here Myerson Receives Oskar Morgenstern Award Professor Roger Myerson has been named recipient of the Oskar Morgenstern Award from the Society for the Advancement of Economic Sciences at the University of Vienna The prize was established to honor an outstanding economist whose work is closely connected to the writings of Oskar Morgenstern one of the co founders of game theory Economics Department Welcomes New Faculty Member We are pleased to announce that Stephane Bonhomme University of Paris I will be joining us on November 1 2013 in the rank of Professor in the Department of Economics and the College Stephane is currently a Professor at the Center for Monetary and Financial Studies CEMFI in Madrid His research focuses on labor economics microeconometrics and econometric theory Professor Ronald H Coase 1910 2013 Ronald H Coase Nobel Laureate and the Clifton R Musser Professor Emeritus of Economics died on Monday September 2 at the age of 102 He received the Nobel Memorial Prize in Economics in 1991 for his work on two articles The Nature of the Firm and The Problem of Social Cost He was the oldest living Nobel laureate according to the Nobel Foundation A public event honoring his life and work is planned for Spring 2014 The University of Chicago Law School devoted one of its Chicago s Best Ideas talks to Professor Coase Coase s Legacy presented by Saul Levmore Read full story First Look at the Future New Home for the Economics Department and the Becker Friedman Institute The University of Chicago Economics Department and the Becker Friedman Institute will soon call a new campus location home 5757 S University Avenue the former home of the Chicago Theological Seminary and the Seminary Co op Bookstore will re open in 2014 with many new features and upgrades including a cloister café LEED certification high tech classrooms in old library and chapel areas and more Image courtesy Ann Beha Architects Beijing Conference Launches Collaborative Global Study of Inequality James Heckman the Henry Schultz Distinguished Service Professor of Economics and Director of the Economics Research Center and the Center for Social Program Evaluation at the Chicago Harris School of Public Policy convened the 6 17 Conference on the Study of Inequality in Beijing China co sponsored by the Human Capital and Economic Opportunity HCEO Global Working Group the University of Chicago Center in Beijing and the China Center for Economic Research at Peking University The conference opened a week of events designed to provide economists robust new tools for measuring and assessing inequality and an intensive summer training session for graduate students Read full story Weyl and Posner s Antidote for Poison Pills E Glen Weyl and Eric Posner propose a QVB quadratic vote buying solution to the potential pitfalls of shareholder rights plans in the New York Times Dealbook s How to Make Poison Pills Palatable Gary Becker Gives Keynote Speech at 3rd Annual CME Group Lecture on Global Financial Markets Professor Gary Becker presented Will America Retain Its Economics Leadership the Keynote Speech at the Third Annual CME Group Lecture on Global Financial Markets hosted by the Chicago Council on Global Affairs Thursday April 18th at 6 p m at the Ritz Carlton Chicago For more information please visit The Chicago Council org Economics Department Welcomes New Faculty Members We are pleased to announce that Felix Tintelnot Pennsylvania State University and Magne Mogstad University of Oslo will be joining us in 2014 as Assistant Professors in the Department of Economics and the College Magne who will be joining us January 1st 2014 is currently an Assistant Professor at University College of London His research focuses on applied microeconomic theory and empirical microeconomics specifically in the area of labor economics household economics and testing general consumer theory Felix will be joining us on July 1 2014 after a one year International Economics Section Fellowship at Princeton University his research focuses on international trade and industrial organization James Heckman Discusses the Value of High Quality Early Childhood Education Programs In the wake of President Obama s State of the Union address Nobel laureate James Heckman had the opportunity to speak with Robert Siegel on NPR s All Things Considered and with the Secretary of Education on The Diane Rehm Show about the value of high quality early childhood education programs Professor Heckman spoke about the policy on The Rachel Maddow Show explaining that This is one of the rare public policies that has two features it s economically productive it survives very stringent analyses and at the same time it reduces inequality and promotes social mobility John List Talks with the Federal Reserve Bank of Richmond s Region Focus Department of Economics Chair John List shares his views on empirical research in a detailed new interview with the Federal Reserve Bank of Richmond Excerpt On the importance of conducting real world field experiments List explains I think that economists reasoning on field experiments has been flawed for decades and I believe it is an important reason why people have not used field experiments until the last 10 or 15 years They have believed that because the world is really messy you can t have control in the same way that a chemist has control or a biologist might have control I think people have generalized incorrectly and here s why When I look at the real world I want it to be messy I want there to be many many variables that we don t observe and I want those variables to frustrate inference The reason why the field experiments are so valuable is because you randomize people into treatment and control and those unobservable variables are then balanced You can read the full text of Aaron Steelman s interview with John List in the latest Q2 3 issue of the Federal Reserve Bank of Richmond s Region Focus Glen Weyl on the Future of Economics The online knowledge forum Big Think recently spoke with assistant professor E Glen Weyl and seven more of the world s top young economists asking about the future of their field and its biggest unanswered questions Information technology fundamentally challenges the standard foundations of the market economy Weyl states For many years to come economists will increasingly have to struggle with this challenge Read more in Empirics and Psychology Eight of the World s Top Young Economists Discuss Where Their Field is Going Phillip David Cagan 1927 2012 Author and scholar Phillip David Cagan BA 1948 UCLA MA 1951 PhD 1954 University of Chicago Economics passed away on Friday June 15 2012 Cagan served as Assistant Professor in the Department of Economics from 1955 58 and then taught at Brown University for seven years In 1966 he was hired by Columbia University where he taught for nearly 30 years and held the Chair of the Department of Economics for three years He made significant contributions to the field of economic science most notably to monetary policy and the study of inflation He published over 100 books journals reviews reports and pamphlets on macroeconomics His Ph D dissertation The Monetary Dynamics of Hyperinflation published as the leading chapter in the volume Studies in the Quality Theory of Money 1956 became an instant classic in the field In addition to documenting the role of growth in the supply of money in seven hyperinflations from the first half of the twentieth century his work was important for demonstrating the importance of variations in inflationary expectations as a determinant of the demand for money and hence the inflation that would result from a given increase in the money supply The model of money demand proposed and fit to historical data in this study known as the Cagan model continues to be widely used In 1975 Prof Cagan was elected a Fellow of the Econometric Society Stokey Receives Honorary Doctorate from University of Western Ontario Nancy L Stokey the Frederick Henry Prince Distinguished Service Professor in Economics and the College received an honorary Doctor of Laws LL D from the University of Western Ontario on June 13 in recognition for her work on economic dynamics and the mathematical basis for much of modern macroeconomics Stokey told the Faculty of Social Science s 470 graduates that despite uncertainty they would be catalysts for positive change Be aware that the next 40 years will surely bring great changes which you have no inkling of now as you finish this phase of your life and begin the next just keep in mind that the world continues to change and often very quickly You re the ones that can and will and should change the world further but you may not realize how big these changes are until 40 years from now when you re looking back UWO Economics professor Audra J Bowlus in honoring Stokey said it is rare to find an academic whose influence extends from graduate students to researchers to world policy makers She adds her most lasting impression comes from Stokey s book Recursive Methods in Economic Dynamics co authored with husband Robert E Lucas Jr As a student I remember when Stokey and Lucas visited to give talks I was in awe to meet the authors of the book we had pored through as students Bowlus said And as a female economist I was doubly in awe to meet Nancy a woman who had excelled in the same profession I was desperately trying to get into So for many of us her accomplishments as a mentor and role model far outweigh the others John List New Chair of the Department of Economics John List PhD 1996 University of Wyoming Homer J Livingston Professor in Economics and the College has been named Chair of the Department of Economics for a three year term effective July 1 2012 John joined the department in 2005 in the rank of Professor He has served as the Director of Graduate Studies and Co Director of Graduate Admissions for the past two years John s work in experimental economics is featured on the University s webpage at http www uchicago edu features 20120507 list Top 100 Economics Schools Research Rankings for 2012 The University of Chicago Department of Economics was ranked second world wide among economics programs in a survey by Tilburg University The Top 100 Economics Schools Research Rankings for 2011 was made based on publications for the period of 2006 2010 in 36 of the top 68 leading journals in Economics Finance and Econometrics More information on the Top 100 listing and the ranking methodology used is available on the Tilburg University website Goldin to Head American Economic Association University of Chicago alumna Claudia D Goldin Ph D 72 has been chosen as president elect of the American Economic Association one of the world s leading organizations of economics professors practitioners and experts Once elected in 2013 she will become the third female president in the AEA s history In a recent interview Goldin told the Harvard Crimson I m deeply honored to have been chosen by this very large organization as president It is a position with a lot of work and a lot of responsibility Goldin the Henry Lee Professor of Economics at Harvard University and director of the NBER s Development of the American Economy program is best known for her historical work on women in the U S economy Her most recent papers in that area have examined the trajectory of women s quest for career and family coeducation in higher education the impact of the contraceptive pill on women s career

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  • University of Chicago Department of Economics | Publications
    Economic Review 104 10 3038 72 Nobel Lecture Uncertainty Outside and Inside Economic Models Hansen Lars Peter 2014 Journal of Political Economy 122 5 945 87 Vertical Integration and Input Flows Atalay Enghin Hortacsu Ali and Syverson Chad 2014 American Economic Review 104 4 1120 48 Price Setting With Menu Cost for Multiproduct Firms Alvarez Fernando and Lippi Francesco 2014 Econometrica 82 1 89 135 On the Testability of Identification in Some Nonparametric Models With Endogeneity Canay Ivan A Santos Andres and Shaikh Azeem M 2013 Econometrica 81 6 2535 2559 Truth Telling by Third Party Auditors and the Response of Polluting Firms Experimental Evidence from India Michael Greenstone Esther Duflo Rohini Pande and Nicholas Ryan 2013 Quarterly Journal of Economics 128 4 1499 1545 Evidence on the Impact of Sustained Exposure to Air Pollution on Life Expectancy from China s Huai River Policy Michael Greenstone Yuyu Chen Avraham Ebenstein and Hongbin Li 2013 Proceedings of the National Academy of Sciences 110 32 12936 12941 Toward an Understanding of Learning by Doing Evidence from an Automobile Assembly Plant Steven D Levitt John A List and Chad Syverson 2013 Journal of Political Economy 121 4 643 81 Glass Steagall A Requiem Lucas Robert E 2013 American Economic Review 103 3 43 47 Benefit Cost Analysis for Financial Regulation Posner Eric and E Glen Weyl 2013 American Economic Review 103 3 393 97 Testing for Racial Differences in the Mental Ability of Young Children Fryer Roland G and Steven D Levitt 2013 American Economic Review 103 2 981 1005 The Importance of Being Marginal Gender Differences in Generosity DellaVigna Stefano John A List Ulrike Malmendier and Gautam Rao 2013 American Economic Review 103 3 586 590 The 2007 Subprime Market Crisis Through the Lens of European Central Bank Auctions for Short Term

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  • University of Chicago Department of Economics | About the Department
    Policy Public Finance News Selected Publications About the Department The University of Chicago is home to an unusually innovative department of economics The proportion of new ideas in economics over the last forty years that have emanated from or become associated with Chicago is astonishing The Saieh Hall for Economics Any definition of the Chicago School would have to find room for the following ideas in chronological order from the 1940s to the present 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 The unifying thread in all this is not political or ideological but methodological the methodological conviction that economics is an incomparably powerful tool for understanding society Departmental Literature Download materials from the Economics Department Graduate

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  • University of Chicago Department of Economics | Historical Information
    in economic and social thought primarily in German speaking Europe secondarily in Italy in relation to the British classical economics and to the current development of institutional and statistical economics in America 1931 Margaret Reid receives her PhD in Home Economics her adviser is Hazel Kyrk PhD 20 Reid s first book The Economics of Household Production is published in 1934 She was a faculty member at UChicago from 1952 until she retired in 1961 1933 Henry Schultz Professor Schultz Professor of Economics is awarded the Guggenheim Fellowship for studies in the field of mathematical and statistical economics in Europe 1933 The Chicago Plan for Banking Reform is drafted and signed by a group of faculty including Frank Knight Lloyd Mints Henry Simons and Aaron Director This paper is widely understood as influencing federal policy manifested by the Banking Act of 1933 1944 D Gale Johnson who became a world renowned scholar of agricultural and development economics arrives at the University Johnson spent the rest of his life at UChicago taking on a number of administrative roles over the next 60 years including Director of the Undergraduate Program in Economics for many years Chair of the Department twice 1971 1975 1980 1984 Dean of the Social Sciences 1960 1970 and Provost of the University 1975 1980 1951 Milton Friedman 1912 2006 AM 33 the Paul Snowden Distinguished Service Professor is awarded the John Bates Clark Medal 1957 Kenneth J Arrow LLD 67 Assistant Professor in Economics 1948 49 and Research Associate and Instructor 1947 48 is awarded the John Bates Clark Medal 1959 Lawrence R Klein Researcher in Economics 1942 43 is awarded the John Bates Clark Medal 1961 The Second Chicago School of Economics includes former students of Frank Knight Milton Friedman and George Stigler along with faculty who had come from Iowa most famously T W Schultz 1964 Theodore William Schultz 1902 1998 publishes Transforming Traditional Agriculture in which he lays out his view that primitive farmers in poor countries maximize the return from their resources One of his main contributions was later called Human Capital Theory and inspired a major body of work in international development 1965 Zvi Griliches is awarded the John Bates Clark Medal 1967 Gary S Becker 1930 2014 AM 53 PhD 55 University Professor in Economics and Sociology and University of Chicago Booth School of Business is awarded the John Bates Clark Medal 1969 Marc Nerlove is awarded the John Bates Clark Medal 1970s The Chicago Boys were a group of Chilean economists the majority of whom trained in the Department of Economics Upon their return to Latin American they adopted positions in numerous South American governments as economic advisors many of them reaching high positions They are credited with transforming Chile into Latin American s best performing economy and one of the world s best business climates although this is not without controversy 1976 Milton Friedman is awarded the Nobel Memorial Prize in Economic Sciences 1979 T W Schultz is awarded the

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  • University of Chicago Department of Economics | Areas of Research
    this research is built around workshops that have heavy student and faculty participation These workshops as well as the whole program treat economics as a powerful analytical tool for understanding real world economies Students at Chicago learn the power and scope of economic analysis and this understanding is clearly manifested in the nature and quality of their dissertations Faculty working in Applied Microeconomics Stéphane Bonhomme Manasi Deshpande Michael Dinerstein David Galenson Sebastien Gay Michael Greenstone James J Heckman Brent Hickman Ali Hortaçsu Steven Levitt Victor Lima John List Rafael Lopes de Melo Magne Mogstad Casey Mulligan Kevin Murphy Derek A Neal Allen R Sanderson Felix Tintelnot Grace Tsiang Econometrics Chicago has a rich tradition in empirical research guided by economics and statistical theory Henry Schultz a founder of the Econometric Society did pioneering work on the theory and measurement of consumer demand in the 1920 s and 30 s Paul Douglas developed the Cobb Douglas production function to explain features of US data while working at Chicago in the 20 s through the 40 s The Cowles Commission was active at Chicago in the 40 s and 50 s and developed pioneering methodology for the study of causality and simultaneity that is the foundation of modern econometrics Trygve Haavelmo s Nobel Prize winning work on the probability approach in econometrics united modern statistics with econometrics Klein s work on business cycles Marschak s work on stochastic choice and on policy evaluation were also done here under the auspices of the Cowles Commission This tradition has been continued by later scholars like Zvi Griliches Marc Nerlove and Arnold Zellner More recently Lars Hansen and James Heckman have continued this tradition of uniting economics empirical analysis and statistics in studying economic problems Hansen s pioneering work on the formulaltion and estimation of dynamic rational expectations models on the measurement of risk aversion and intertemporal substitution and on the econometrics of asset pricing have broken new ground He developed GMM the most used estimation method in modern econometrics Heckman has developed new methods in microeconometrics to control for selection and measure heterogeneity in micro and macro models His work is widely used in the econometric evaluation of social programs in measuring inequality and in the study of the economics of the life cycle At Chicago econometrics is not an abstract game Our research is guided by the application of theory to the interpretation of evidence Chicago economists address real problems and develop the tools needed to address them Faculty working in Econometrics Stéphane Bonhomme Sebastien Gay Lars Peter Hansen James J Heckman Azeem Shaikh Harald Uhlig Economic Theory Economic theory at the University of Chicago encompasses a large number of areas including game theory auction and mechanism design economics of information and uncertainty and general equilibrium theory including dynamical models of growth and equilibrium In each of these important areas faculty in the department have made leading contributions The department is committed to the view that economic theory is central to all of

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  • University of Chicago Department of Economics | Faculty & Staff
    Henry Schultz Distinguished Service Professor in Economics and the College Harris Graduate School of Public Policy Studies Director of the Center for the Economics of Human Development Director of the Center for Social Program Evaluation Co Director Human Capital and Economic Opportunity Global Working Group sponsored by INET Institute for New Economic Thinking at Chicago since 1973 Hickman Brent Hickman Ph D University of Iowa 2010 Assistant Professor in Economics and the College at Chicago since 2010 Hortaçsu Ali Hortaçsu Ph D Stanford University 2001 The Ralph and Mary Otis Isham Professor in Economics and the College at Chicago since 2001 Lamadon Thibaut Lamadon Ph D University College London 2014 Assistant Professor in Economics and the College at Chicago since 2015 Voena Alessandra Voena Ph D Stanford University 2011 Assistant Professor in Economics and the College at Chicago since 2012 On leave 2015 2016 Levitt Steven Levitt Ph D Massachusetts Institute of Technology 1994 The William B Ogden Distinguished Service Professor in Economics and the College at Chicago since 1997 On leave 2015 2016 Lima Victor O Lima Ph D University of Chicago 2001 Senior Lecturer in Economics and the College Co Director of Undergraduate Studies in Economics at Chicago since 2001 List John List Ph D University of Wyoming 1996 The Homer J Livingston Distinguished Service Professor in Economics and the College Chairman of the Department of Economics at Chicago since 2005 Lopes de Melo Rafael Lopes de Melo Ph D Yale University 2009 Assistant Professor in Economics and the College at Chicago since 2009 zz Lucas Jr Robert E Lucas Jr Ph D University of Chicago 1964 Emeritus Faculty Professor Emeritus in Economics and the College at Chicago since 1974 Mogstad Magne Mogstad Ph D University of Oslo 2008 Professor in Economics and the College at Chicago since 2014 Murphy Kevin M Murphy Ph D University of Chicago 1986 The George J Stigler Distinguished Service Professor in Economics Booth School of Business and the Law School at Chicago since 1984 Myerson Roger B Myerson Ph D Harvard University 1976 The Glen A Lloyd Distinguished Service Professor in Economics and the College Harris Graduate School of Public Policy Studies at Chicago since 2001 Mulligan Casey Mulligan Ph D University of Chicago 1993 Professor in Economics and the College at Chicago since 1993 Neal Derek A Neal Ph D University of Virginia 1992 Professor in Economics the Committee on Education and the College Director of Graduate Placement at Chicago 1991 1998 and since 2001 Ravid Doron Ravid Ph D Princeton University 2015 Assistant Professor in Economics and the College at Chicago since 2015 Reny Philip J Reny Ph D Princeton University 1988 The Hugo F Sonnenschein Distinguished Service Professor in Economics and the College at Chicago since 1999 Sanderson Allen R Sanderson M A University of Chicago 1970 Senior Lecturer in Economics and the College at Chicago since 1984 Schmidt Lawrence D W Schmidt Ph D University of California at San Diego 2015 Assistant Professor in Economics and the College

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