The Gary Becker Milton Friedman Institute for Research in Economics was established at the University of Chicago in June 2011 as a collaborative, cross-disciplinary center for research in economics. It brought together the activities of two formerly independent economic research centers at the University: the Milton Friedman Institute for Research in Economics and the Becker Center on Chicago Price Theory, founded by Richard O. Ryan, MBA ’66.
The institute is named for two globally influential economists: Gary S. Becker (1930–2014) and his mentor, Milton Friedman (1912-2006), both winners of the Nobel Memorial Prize in Economic Sciences. While they pursued different scholarly paths, Becker and Friedman shared a fundamental belief that economics, grounded in empirical research, is a powerful tool to understand human behavior. While Friedman is known for his lasting contributions to macroeconomics and monetary economics, Becker is recognized for extending microeconomic analysis to a wide range of fields and topics.
A collaboration of the University of Chicago Booth School of Business, Law School, Department of Economics, and the Harris School for Public Policy, the Institute builds bridges across disciplines and subfields of economics. Its research conferences, workshops, and initiatives bring economists and scholars from related fields together to share perspectives and refine ideas. The institute also sponsors an active visiting scholars program and offers programs and support for students and promising young researchers.
The institute supports research initiatives in traditional Chicago strengths such as price theory, law and economics, and human capital, as well as topical inquiries into important policy issues such as fiscal imbalance, systemic risk, policy uncertainty, and economics of the family, and newer areas like field experiments in economics.
The institute is co-chaired by Lars Peter Hansen, a co-recipient of the 2013 Nobel Memorial Prize in Economic Sciences, and Kevin M. Murphy, the recipient of the 1997 John Bates Clark Medal. An Institute Research Council of distinguished faculty from collaborating university units advises the cochairs.
Andrew M. Rosenfield is the Chief Executive Officer and Managing Partner of TGG Group, Managing Partner of Guggenheim Partners, and a Senior Lecturer in Law at the University of Chicago Law School.Chicago Theological Seminary
The Chicago Theological Seminary (CTS) is a Christian ecumenical American seminary located in Chicago, Illinois, and is one of several seminaries historically affiliated with the United Church of Christ. It is the oldest institution of higher education in Chicago, originally established in 1855 under the direction of the abolitionist Stephen Peet and the Congregational Church (now the United Church of Christ) by charter of the Illinois legislature. In addition to being a seminary of the United Church of Christ, CTS offers students coursework necessary to be ordained by both the United Methodist Church and the Metropolitan Community Church denominations.
In the 19th century, the Chicago Theological Seminary led the Christian Abolitionism movement, while during the 20th century, the seminary stood as a bastion of Social Gospel Christianity. The seminary's preeminent religious activists and theologians among its faculty and alumni include Susan Brooks Thistlethwaite, Graham Taylor, Howard Schomer, G. Campbell Morgan, John W. de Gruchy, and Otis Moss III among others.
Chicago Theological enrolls a diverse student population representing more than 40 different faith traditions, perspectives and denominations, and houses the Center for the Study of Black Faith and Life (CSBFL), the Center for Jewish, Christian, & Islamic Studies (JCIS), the Center for the Study of Korean Christianity (CSKC), and the LGBTQ Religious Studies Center. CTS students hold academic reciprocity with the University of Chicago, the University of Chicago Divinity School, and with member schools of the Association of Chicago Theological Schools consortium.
The first in many fields, CTS remains the first theological school to introduce the field education experience into a seminary curriculum, the first to create a distinct Department of Christian Sociology in an American theological school, the first seminary to award a degree in divinity to a woman in the US (Florence Fensham, 1902),
the first seminary in the US to award the Martin Luther King Jr. an honorary Doctor of Divinity degree for his activism in the Civil Rights movement, the first to elect an African American to lead a predominantly white theological school (C. Shelby Rooks, 1974 to 1984), and the first free-standing Protestant seminary to endow a chair in Jewish Studies.Dan P. McAdams
Dan P. McAdams (born February 7, 1954) is a professor and chair of the Department of Psychology at Northwestern University.He was raised in Gary, Indiana, where he attended nearby Valparaiso University. In 1979 he was awarded a Ph.D. from the Harvard Department of Social Relations.McAdams is the author of The Person: An Introduction to the Science of Personality Psychology, a classroom textbook. He co-edited, with Amia Lieblich and Ruthellen Josselson, the eleven-book series "The Narrative Study of Lives". He is a member of The Human Capital and Economic Opportunity Working Group at the Becker Friedman Institute for Research in Economics.Daniel E. Ho
Daniel E. Ho is an American lawyer, currently the William Benjamin Scott and Luna M. Scott Professor of Law at Stanford Law School.Institute for New Economic Thinking
The Institute for New Economic Thinking (INET) is a New York City–based nonprofit think tank. It was founded in October 2009 as a result of the 2007–2012 global financial crisis, and runs a variety of affiliated programs at major universities such as the Cambridge-INET Institute at the University of Cambridge.John Armour
John Hamish Armour, (born 24 December 1971) is a British legal scholar. Since 2007, he has been Hogan Lovells Professor of Law and Finance at the University of Oxford, and a Fellow of Oriel College, Oxford. Previously, he was a lecturer at the University of Nottingham and at the University of Cambridge, where he was also a fellow of Trinity Hall, Cambridge.Konstantin Sonin
Konstantin Sonin is a prominent Russian economist. He is a professor at the University of Chicago Harris School of Public Policy, visiting professor at the Higher School of Economics in Moscow, Russia, research fellow at the Centre for Economic Policy Research (CEPR), London, and an associate research fellow at the Stockholm Institute of Transition Economics. In recognition for his outstanding research in the field of political economy, in December 2015, he was named the John Dewey Distinguished Service Professor of the University of Chicago.Sonin is the co-founder of the joint HSE-NES Bachelor of Arts Program. Until December 2014, Sonin was vice-rector at the Higher School of Economics, but was forced to resign for political reasons. Until August 2013, he was professor of Economics and vice rector at the New Economic School. His primary research interests are in political economics, development economics, and economic theory.He has been published in leading academic journals in economics and political science, such as American Economic Review, Quarterly Journal of Economics, Review of Economic Studies, American Political Science Review, American Journal of Political Science, Journal of the European Economic Association, Proceedings of the National Academy of Sciences, and others.
Sonin is a columnist for The Moscow Times and Vedomosti (in Russian). He contributes to major international and Russian media outlets. He is the author of "Sonin.ru: Lessons of Economics" (in Russian), a book aimed to a wide audience.Milton Friedman Institute for Research in Economics
Between 2008 and 2011, the Milton Friedman Institute for Research in Economics was an academic center established at the University of Chicago as a collaborative, cross-disciplinary site for research in economics. The Institute aimed to advance, refine, and share research that applied the tools of economic analysis to real-world issues. The institute was named in honor of former Chicago economics professor, Milton Friedman, who is widely recognized for his many enduring contributions to economic analysis. The institute was a collaboration of the University of Chicago Booth School of Business, Department of Economics, and Law School and fostered inquiry across a wide range of topics and subfields. The institute aimed to advance and preserve the unique University of Chicago economic tradition of combining theory and data in rigorous analysis--an approach exemplified by Friedman and others.
The Institute hosted visiting scholars working in subfields of economics, business, law, and related fields such as public policy and medicine. It hosted workshops, seminars, and lectures on fundamental questions across these fields. The Institute also supported advanced professional training for post-doctoral students, as well as expanded opportunities for University of Chicago graduate students. When announcing the creation of the institute in 2008, University President Robert J. Zimmer said its goal was to create "a primary intellectual destination for economics by creating a robust forum for engagement of our faculty and students with scholars and policymakers from around the world.” The university had initially planned to invest $200 million in the institute, with half of that in the form of an operating endowment; though the majority of funds were to be raised through donations.
The institute was an object of intense controversy at the university, as many faculty objected both to its objectives as originally framed and to the naming of an institute after Friedman, who was viewed as polarizing. The announcement of the institute drew a response from more than 170 of the faculty at the university, who argued that to found such an institute would constitute "a symbolic endorsement of his views by the University" and that the proposal reflected "a very narrow research scope even within the field of economics, not to speak of the complete disregard for other disciplines involved in the study of 'economy and society'".In June 2011, the institute and the Becker Center on Chicago Price Theory were joined to form the new Becker Friedman Institute for Research in Economics.Robert Zimmer
Robert Jeffrey Zimmer (born November 5, 1947) is an American mathematician and academic administrator. He is the 13th president of the University of Chicago and serves as Chair of the Board for Argonne National Lab, Fermi National Accelerator Laboratory, and the Marine Biological Laboratory.
As a mathematician, Zimmer specializes in geometry, particularly ergodic theory, Lie groups, and differential geometry.Terrie E. Moffitt
Terrie Edith Moffitt (born March 9, 1955, Nuremberg, Germany) is an American clinical psychologist who is best known for her pioneering research on the development of antisocial behavior and for her collaboration with colleague and partner Avshalom Caspi in research on gene-environment interactions in mental disorders. Moffitt is the Knut Schmidt Nielsen Professor of Psychology & Neuroscience at Duke University (USA) and a Professor of Social behavior and Development in the Medical Research Council's Social, Genetic and Developmental Psychiatry Center at the Institute of Psychiatry, King's College London (UK). She is Associate Director of the Dunedin Longitudinal Study, which follows 1037 people born in 1972-73 in Dunedin, New Zealand. She also launched the Environmental-Risk Longitudinal Twin Study, which follows 1100 British families with twins born in 1994-1995. She has studied the twins from birth to age 12 so far.University of Chicago
The University of Chicago (UChicago, U of C, or Chicago) is a private, non-profit research university in Chicago, Illinois. The university is composed of an undergraduate college, various graduate programs and interdisciplinary committees organized into five academic research divisions and seven professional schools. Beyond the arts and sciences, Chicago is also well known for its professional schools, which include the Pritzker School of Medicine, the Booth School of Business, the Law School, the School of Social Service Administration, the Harris School of Public Policy Studies, the Divinity School and the Graham School of Continuing Liberal and Professional Studies. The university holds top-ten positions in various national and international rankings.University of Chicago scholars have played a major role in the development of many academic disciplines, including sociology, law, economics, literary criticism, religion and the behavioralism school of political science. Chicago's physics department and the Met Lab helped develop the world's first man-made, self-sustaining nuclear reaction (Chicago Pile-1) beneath the viewing stands of university's Stagg Field, a key part of the classified Manhattan Project effort of World War II. The university research efforts include administration of Fermi National Accelerator Laboratory and Argonne National Laboratory, as well as the Marine Biological Laboratory. The university is also home to the University of Chicago Press, the largest university press in the United States. With an estimated completion date of 2021, the Barack Obama Presidential Center will be housed at the university and include both the Obama presidential library and offices of the Obama Foundation.The University of Chicago has produced many prominent alumni, faculty members and researchers. As of 2018, 98 Nobel laureates have been affiliated with the university as professors, students, faculty, or staff, making it a university with one of the highest concentrations of Nobel laureates in the world. Similarly, 34 faculty members and 17 alumni have been awarded the MacArthur "Genius Grant". In addition, Chicago's alumni and faculty include 53 Rhodes Scholars, 25 Marshall Scholars, 9 Fields Medalists, 4 Turing Award Winners, 24 Pulitzer Prize winners, 20 National Humanities Medalists, 16 billionaire graduates and a plethora of members of the United States Congress and heads of state of countries all over the world.University of Chicago Booth School of Business
The University of Chicago Booth School of Business (also known as Chicago Booth, or Booth) is the graduate business school of the University of Chicago in Chicago, Illinois. Booth has produced more Nobel laureates in the Economic Sciences (28) than any other school and is second only to the University of Cambridge in total. Formerly known as The University of Chicago Graduate School of Business, Chicago Booth is the second-oldest business school in the U.S., and the first such school to offer an Executive MBA program. The school was renamed in 2008 following a $300 million endowment gift to the school by alumnus David G. Booth. The school has the third-largest endowment of any business school.The school's campus is located in the Hyde Park neighborhood of Chicago on the main campus of the university. The school also maintains additional campuses in London and Asia (originally Singapore, but in July 2013 a move to Hong Kong was announced), as well as in downtown Chicago on the Magnificent Mile. In addition to conducting graduate business programs, the school conducts research in the fields of finance, economics, quantitative marketing research, and accounting, among others. The Full-Time MBA Program is currently tied in first with Harvard Business School according to U.S. News & World Report.University of Chicago Law School
The University of Chicago Law School is a professional graduate school of the University of Chicago. It employs more than 200 full-time and part-time faculty and hosts more than 600 students in its Juris Doctor program, while also offering the Master of Laws, Master of Studies in Law and Doctor of Juridical Science degrees in law. It is consistently ranked among the top law schools in the world, and has produced many distinguished alumni in the judiciary, academia, government, politics and business.
The law school was conceived in 1902 by the President of the University of Chicago, William Rainey Harper, who requested assistance from faculty at Harvard Law School in setting up the new school. Harper and the law school's first Dean, Joseph Henry Beale, designed the school's curriculum with inspiration from Ernst Freund's interdisciplinary approach to legal education. The construction of the school was financed by John D. Rockefeller and the cornerstone was laid by President Theodore Roosevelt. The law school opened for classes in 1903.
In the 1930s, the law school's curriculum was transformed by the emergence of the law and economics movement. Economists Aaron Director and Henry Calvert Simons taught courses integrated with the antitrust curriculum taught by statesman Edward H. Levi, leading to the development of the Chicago school of economics and the Chicago School approach to antitrust law. The law school expanded rapidly in the 1950s under Levi's leadership and, in the 1970s and 1980s, many scholars with connections to the social sciences were attracted to the school's influence in law and economics, including Nobel laureates Ronald Coase and Gary Becker and the most cited legal scholar of the 20th century, Richard A. Posner.The law school's flagship publication is the University of Chicago Law Review. Students edit two other independent law journals, with another three journals overseen by faculty. The law school was originally housed in Stuart Hall, a Gothic-style limestone building on the campus's main quadrangles. Since 1959, it has been housed in an Eero Saarinen-designed building across the Midway Plaisance from the main campus of the University of Chicago. The building was expanded in 1987 and again in 1998. It was renovated in 2008, preserving most of Saarinen's original structure.