Eugene F. Fama, 2013 Nobel laureate in economic sciences, is widely recognized as the "father of modern finance." His research is well known in both the academic and investment communities. He is strongly identified with research on markets, particularly the efficient markets hypothesis. He focuses much of his research on the relation between risk and expected return and its implications for portfolio management. His work has transformed the way finance is viewed and conducted.
Fama is a prolific author, having written two books and published more than 100 articles in academic journals. He is among the most cited researchers in economics.
In addition to the Nobel Prize in Economic Sciences, Fama was the first elected fellow of the American Finance Association in 2001. He is also a fellow of the Econometric Society and the American Academy of Arts and Sciences. He was the first recipient of three major prizes in finance: the Deutsche Bank Prize in Financial Economics (2005), the Morgan Stanley American Finance Association Award for Excellence in Finance (2007), and the Onassis Prize in finance (2009). Other awards include the 1982 Chaire Francqui (Belgian National Science Prize), the 2006 Nicholas Molodovsky Award from the CFA Institute recognizing his work in portfolio theory and asset pricing, and the 2007 Fred Arditti Innovation Award given by the Chicago Mercantile Exchange Center for Innovation. He was awarded doctor of law degrees by the University of Rochester and DePaul University, a doctor honoris causa by the Catholic University of Leuven, Belgium, and a doctor of science honoris causa by Tufts University.
Fama is chairman of the Center for Research in Security Prices at Chicago Booth, which was founded 40 years ago to create the finest tools for tracking, measuring, and analyzing securities data. He is also an advisory editor of the Journal of Financial Economics.
Fama earned a bachelor's degree from Tufts University in 1960, followed by an MBA and PhD from the University of Chicago Graduate School of Business (now the Booth School) in 1964. He joined the GSB faculty in 1963.
Fama is a father of four and a grandfather of ten. He is an avid windsurfer and golfer, an opera buff, and a faded tennis player. He is a member of Malden Catholic High School's athletic hall of fame.
2014 - 2015 Course Schedule
||Theory of Financial Decisions I
||Research Projects: Finance
Windsurfing, golf, tennis, biking, old movies, opera.
Theoretical and empirical work on investments; price formation in capital markets; corporate finance.
With Kenneth R. French, "Disappearing Dividends: Changing Firm Characteristics or Lower Propensity to Pay," Journal of Financial Economics (April 2001).
"The Equity Premium," Journal of Finance (April 2002).
"New Lists: Fundamentals and Survival Rates," Journal of Financial Economics (August 2004).
"Disagreement, Tastes, and Asset Pricing" Journal of Financial Economics (March 2007).
"Profitability, Investment, and Average Returns," Journal of Financial Economics (December 2006).
For a listing of research publications please visit
’s university library listing