The Chicago school of economics is a neoclassical school of thought within the academic community of economists, with a strong focus around the faculty of the University of Chicago. Chicago macroeconomic theory rejected Keynesianism in favor of monetarism until the mid-1970s, when it turned to new classical macroeconomics heavily based on the concept of rational expectations. The school is strongly associated with University of Chicago economists such as Milton Friedman, George Stigler, Ronald Coase and Gary Becker. In the 21st century, economists such as Mark Skousen refer to Friedrich Hayek as a key economist who influenced this school in the 20th century having started his career in Vienna and the Austrian school of economics.
The Chicago school of economics is a neoclassical school of thought within the academic community of economists with a strong focus around the faculty of the University of Chicago Chicago macroeconomic theory rejected Keynesianism in favor of monetarism until the mid-1970s when it turned to new classical macroeconomics heavily based on the concept of rational expectations The school is strongly associated with University of Chicago economists such as Milton Friedman George Stigler Ronald Coase and Gary Becker In the 21st century economists such as Mark Skousen refer to Friedrich Hayek as a key economist who influenced this school in the 20th century having started his career in Vienna and the Austrian school of economics