The Law School (pictured above) has a long and distinguished history of scholarship related to economics, and those interdisciplinary ties will be strengthened through the Milton Friedman Institute for Research in Economics.
Frequently Asked Questions
Below are answers to frequently asked questions about the Milton Friedman Institute for Research in Economics.
- What is the mission of the MFI?
- What is the governing structure of the MFI?
- Where is the MFI located?
- How is the MFI funded?
- Why was the MFI named after Milton Friedman?
- How does the MFI foster collaborations between scholars at the University of Chicago and across the globe?
- How does the MFI support the development of promising young scholars in economics?
What is the mission of the MFI?
The MFI’s mission is to support research on important policy-related questions through the application of economic analysis. This mission builds on Chicago’s tradition of rigorous intellectual inquiry motivated and backed by empirical evidence. Over the last century, contributions by University of Chicago faculty in the Department of Economics, the Chicago Booth School of Business, and the Law School have helped shape the study of economics in profound ways. The Milton Friedman Institute for Research in Economics continues this tradition by supporting the broad exchange of ideas among scholars in some of the most exciting areas of research in economics.
What is the governing structure of the MFI?
A director and the Faculty Steering Committee oversee the MFI. The Director reports to the Administrative Oversight Committee, chaired by the University’s provost and comprised of the Department of Economics chairman and deans from the Chicago Booth School of Business and the Social Sciences Division.
Where is the MFI located?
Currently, the MFI’s programs are operated from offices in the Department of Economics in collaboration with the Chicago Booth School of Business and the Law School. Future plans call for the Milton Friedman Institute for Research in Economics to be housed in what is now the main Chicago Theological Seminary building, located on the north side of 58th Street between University and Woodlawn avenues.
How is the MFI funded?
The University is seeking endowed support for the MFI and additional funding to support facility renovations.
Find out more about giving to the Milton Friedman Institute for Research in Economics.
Why was the MFI named after Milton Friedman?
Milton Friedman joined the Economics faculty at the University of Chicago in 1946 and maintained close ties with the University throughout his life. His exemplary scholarship in economics was awarded the highest honors in the field. The work of the MFI is inspired by Milton Friedman’s intellectual legacy, which continues to shape the discipline of economics today.
Learn more about Milton Friedman.
How does the MFI foster collaborations between scholars at the University of Chicago and across the globe?
The MFI visiting scholars 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 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 with continual access to the latest developments in economics.
How does the MFI support the development of promising young scholars in economics?
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.
