Economics has been a major strength at the University of Chicago since its founding. While the Chicago School of Friedman and Stigler is most well known, many other important economists have been students, faculty and researchers at the University. This guide has sources for learning more about the study of economics at the University of Chicago.
Economics was established at the University as the Department of Political Economy in 1892. James Laurence Laughlin was recruited from Cornell University to serve as inaugural department head. He brought with him Thorstein Veblen, who became well known for his work on conspicuous consumption.
The Journal of Political Economy was also established in 1892, published by the University of Chicago Press. It has become one of the most prestigious journals in economics.
The department became the Department of Economics in 1925.