Academic Areas Microeconomics Faculty and Research

The microeconomics faculty at Chicago Booth are shaping the understanding of modern economic theory and practice with an enduring global impact.

Their research spans a broad spectrum that includes powerful insights from basic interactions between supply and demand, along with insights from information economics and mechanism design. Combining theory and data, their empirical research explores inequality and taxes along with the impacts of productivity growth. Our faculty are on the cutting edge of helping to understand today’s most pressing economic issues.

Microeconomics faculty at Booth have played key roles in government and advised world leaders. Austan D. Goolsbee, for instance, served in Washington as the chairman of the Council of Economic Advisers and a member of President Obama’s cabinet.

Our faculty regularly publish in the world’s leading economics journals, including the American Economic Review, and their work has garnered the most prestigious economics awards, including the Nobel Prize in Economic Sciences.

The faculty in this academic area teach a broad variety of MBA, PhD, and Executive Education courses. In every academic program, our faculty bring insights from their research to the classes they teach—from the fundamental business courses Microeconomics and Price Theory to expanded courses including Managing the Workplace, the Firm and the Non-Market Environment, and Business in Historical Perspective.

Microeconomics Faculty

At Booth, our faculty often incorporate emerging topics and their own research into their classes. These courses begin with fundamental business courses in microeconomics such as Price Theory I, and expand into courses including Managing the Workplace, the Firm and the Non-Market Environment, and Business in Historical Perspective.

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

Featured Research in Chicago Booth Review

Discover some of the latest research from our microeconomics professors.

The Surreal Economics of the Contemporary-Art Market

Why prices (if you can even find them) have gone berserk.

CBR - Economics

Is the US Undercounting Manufacturing Productivity Growth?

Consumer prices indicate that manufacturing output has been far more impressive than generally believed.

CBR - Economics

What’s Holding Back Social Enterprises

Socially minded entrepreneurs face some particular obstacles.

CBR - Social Impact

Awards and Honors

Marianne Bertrand

Awarded an honorary doctorate for scientific merit from Belgium's Ghent University.

Jack Mountjoy

Awarded 2026 Sloan Fellowship for research in economics.

Eric Budish

Elected to the Econometric Society as a 2025 fellow.

Our MBA Concentrations in This Area

Professor Luigi Zingales pointing to a projection screen while teaching a class

Economics

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

Economics

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

PhD student being handed an award by a faculty member in front of a glass window. Another student is smiling next to the awardee and award presenter.

Joint Program in Financial Economics

Conduct research at the intersection of finance and economics in collaboration with faculty whose insights have shaped both fields.

See All MBA and PhD Courses

Choose Your Path to Success

Tell us about yourself, and we will show you the value of a Booth education.

Introduce Yourself

Microeconomics Faculty In the News

Is a 50-year mortgage really that much crazier than a 30-year one?
November 18, 2025 | NPR: Planet Money
“Honestly, I kind of think it’s a fine idea,” Chicago Booth’s Eric Zwick says of President Trump’s idea for 50-year fixed mortgages. “It’s not obviously so different from a 30-year fixed mortgage.”

Some college graduates are struggling to find work. Here are some reasons why.
October 3, 2025 | NPR
Chicago Booth’s Matt Notowidigdo discusses why the share of long-term unemployed college graduates has increased.

Balance of power shifts back towards bosses
January 13, 2025 | The Wall Street Journal
“Firms are trying to reset expectations,” says Chicago Booth’s Michael Gibbs on recent employer changes to remote-work policies and employee benefits.

Partnering across the University of Chicago and Beyond

Our microeconomics faculty members regularly contribute to centers and initiatives outside of Booth. From professor Austan D. Goolsbee’s work moderating discussions on politics with the University of Chicago’s Institute of Politics to professor Marianne Bertrand’s work with the UChicago Urban Labs, our faculty are dedicated to fulfilling the broader mission of the University of Chicago.

The majority of our microeconomics professors are affiliated scholars with the National Bureau of Economic Research.

Luigi Zingales and Raghuram Rajan at an event

Apply to Faculty Positions

Learn more about applying to our open faculty positions and joining the world-renowned faculty at Booth.

Richard Thaler talking with a group of students at a retreat

Learn About Our Research Workshops

Our research workshops provide a forum for faculty, PhD students, and invited guests to present, discuss, and debate new research.

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.