Lars Hansen, MFI Faculty Steering Committee Chair and the Homer J. Livingston Distinguished Service Professor in Economics.
The Milton Friedman Institute for Research in Economics was established to preserve and foster the vibrant research environment that characterizes economics at the University of Chicago. Formed in collaboration with Department of Economics, the University of Chicago Booth School of Business, and the Law School, the MFI provides multilayered support for the research activities of faculty and students, and facilitates interaction among researchers in economics from both within and outside the University of Chicago community.
The MFI features research relying on the rigorous development of economic models based on thorough analysis of the empirical evidence. These models are used to address research questions with significant social and economic consequences, and they explore the incentives of individuals, groups and institutions as they interact. Researchers at the MFI seek to further our understanding of the extent to which markets are successful in allocating resources and how markets and policies can function in complementary ways.
The MFI visiting scholars program is central to its mission. This program provides faculty and students with access and exposure to the best economic research around the world. It is designed to challenge intellectual barriers and to encourage the cross-fertilization of ideas among diverse subfields of economics. Visiting scholars conduct lectures on their current work, hold workshops during extended visits, and provide rich opportunities for collaborations with faculty and students.
The MFI also sponsors a series of thematic workshops in economics. These workshops provide a forum for visiting and Chicago scholars to present their most recent work and to synthesize and connect large bodies of current research. By encouraging critical evaluation and the exploration of research synergies, the workshops facilitate new advancements in economic research. Themes are rotated to provide MFI economists at Chicago with continual access to the latest developments in economics.
The work of Institute scholars is disseminated through publications and online. In addition, the MFI hosts lectures and conferences to reach broader audiences.
Lastly, the MFI provides support to younger scholars who demonstrate outstanding promise in economic research. The MFI sponsors a post-doctoral fellowship program to provide top new Ph.D. graduates with broadened research opportunities and advanced professional training. It also offers expanded opportunities and support for University of Chicago graduate and undergraduate students in economics.
