The University of Chicago has a rich history in economics, with many notable contributions over the years. It is traditionally associated with the Chicago School of Economics, founded by Milton Friedman and George Stigler in the 1940s.  The school believed that the market was the most efficient and effective mechanism for allocating resources, and that government intervention often led to unintended consequences and inefficiencies. One of the key ideas associated with the Chicago School is the concept of rational choice theory, which holds that individuals make choices based on their own self-interest and that these choices are rational and based on all available information. Human capital theory, the efficient market hypothesis and rational expectations theory were also largely contributions of University of Chicago economists. Notable contributions to econometrics include James Heckman's work on policy evaluation and his corrections for sample selection bias. 

There are currently many distinguished economists working at the University. Here is a short list of just some of those currently working there:
- Steven Levitt, best known for his popular book Freakonomics, whose work focuses on crime, corruption and the economics of information.
- John List, whose main contributions are large field experiments that test economic theories and hypotheses.
- Richard Thaler, winner of the Nobel Memorial Prize in Economic Sciences for his work in behavioural economics.
spam fails_task lang_mismatch pii not_appropriate hate_speech sexual_content quality toxicity humor helpfulness creativity violence