Coronavirus Updates

Macroeconomics Faculty

Students can expect a number of innovative courses from our macroeconomics faculty.

Courses such as The Wealth of Nations use quantitative analytical frameworks and case studies to examine the role of institutional factors on the performance of firms in emerging markets versus wealthy countries. Other courses such as Advanced Macroeconomics take an applied approach, covering topics that are organized around the impact of the pandemic on the macroeconomy.

Discover more about our macroeconomics faculty, including the classes they teach, below.

Featured Research in Chicago Booth Review

Discover some of the latest research from our macroeconomics professors.

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Awards and Honors

Veronica Guerrieri is a recipient of the 2015 Bernácer Prize—a prestigious honor given annually to European economists under the age of 40 who have made outstanding contributions in the fields of macroeconomics and finance.

Guerrieri was noted “for her influential research contributions regarding the application of search theory to explain the emergence of illiquidity and fire sales in different asset markets.”

Learn More about the Award

Awards and Honors
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Research with Impact

In research published with the support of the Becker Friedman Institute for Research in Economics, Booth’s Erik Hurst and Chang-Tai Hsieh quantify—for the first time—the impact of reduced labor market discrimination on the performance of the aggregate economy. In their estimation, between 1960 and 2010, up to 40 percent of the output per person is explained by the more productive allocation of talent.

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Research with Impact

Our MBA Concentrations in This Area

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Study economics with the scholars whose insights and analyses have reshaped the face of business, markets, and the global economy.


Our PhD Dissertation Areas in This Area

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Chicago Booth is renowned for economics faculty whose insights and analyses have changed the course of modern-day research in the field.

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Macroeconomics Faculty in the News

Big Data Suggests a Difficult Recovery in US Jobs Market
July 05, 2020 | Financial Times
According to research by Chicago Booth’s Erik Hurst, the 20 percent employment contraction in mid-April was largely tied to small companies in the consumer services sector.

US Leaders Should Approach Current Economic Issues as a Venture Capitalist Would, According to an Economist from Chicago Booth
May 14, 2020 | Business Insider
Booth’s Anil K Kashyap shares his outlook for the US economy and the policy prescriptions he thinks would be the most effective, including giving funds to businesses struggling with liquidity to buy them some time.

Is There Such a Thing as a ‘Good’ or ‘Bad’ Recession?
August 11, 2020 | BBC Future
Because the current recession is such a complicated mix of supply and demand shocks, it’s harder to predict how government interventions will work, suggests Booth’s Veronica Guerrieri.

Partnering across the University of Chicago and Beyond

Our macroeconomics faculty are active in and outside of the University of Chicago. Every macroeconomics faculty member is an affiliate at the National Bureau of Economic Research. In addition:

Research Spotlight

Discover some of the latest working papers and published papers from our macroeconomics faculty.

“The Fall of the Labor Share and the Rise of Superstar Firms”
Christina Patterson, with coauthors David Autor (MIT and National Bureau of Economic Research), David Dorn (University of Zurich and Centre for Economic Policy Research), Lawrence F. Katz (Harvard University and National Bureau of Economic Research), and John Van Reenen (MIT and London School of Economics)

“The Cost of Privacy: Welfare Effects of the Disclosure of COVID-19 Cases”
Chang-Tai Hsieh, with coauthors David Argente (Pennsylvania State University) and Munseob Lee (University of California at San Diego)

“Slow Household Deleveraging”
Veronica Guerrieri, with coauthors Guido Lorenzoni (Northwestern) and Marta Prato (University of Chicago)

Research Centers in This Area

Research centers across Booth and the University of Chicago are hubs for innovation and world-changing research. The centers provide our faculty with research support, and our faculty members lend their expertise to the centers, enriching the student experience and the broader academic community at Booth.