Becker Friedman Institute for Economics

If you have money in an index fund, you’re benefiting from Eugene Fama’s work.

In this Extra Slice of The Pie, the Nobel laureate reflects on a career that reshaped global investing—from the Efficient Market Hypothesis to passive funds.

https://ow.ly/z4qX50Ys4XP

The Pie: University of Chicago Economics Podcast | Becker Friedman Institute LISTEN/SUBSCRIBE Economists are always talking about The Pie – how it grows and shrinks, how it’s sliced, and who gets the biggest shares. Join host Tess Vigeland as she talks with leading economists from the University of Chicago about their cutting-edge research and key events of the day. Hear how the economic pie is at Read more...

Missed an episode of The Pie? Our podcast explores big economic questions with leading scholars—new and past episodes available anytime. 🎧 https://ow.ly/Osbb50Yj5HX

Research Brief Library | Becker Friedman Institute

Looking for clear, accessible takes on new economic research? BFI research briefs translate academic work into real-world insights. View the full Research Brief library: https://bfi.uchicago.edu/insights/research-summaries/

Introduction to Chicago Economics: Macroeconomic Analysis is now open.

Designed for rising high school seniors, this summer program introduces macroeconomic analysis through data, theory, and real-world application—true to the Chicago Economics tradition. https://ow.ly/pNcG50Y8rHi

2026 Price Theory Summer Camp | Becker Friedman Institute The Price Theory Summer Camp (PTSC) introduces PhD students from outside the University of Chicago to price theory, which emphasizes the application of basic economic tools to problems. Over one intensive week, participants attend lectures by UChicago and visiting faculty and have the opportunity to discuss their own work with some of the world’s leading Read more...

Applications to 2026 Price Theory Summer Camp are due this Sunday, March 1. The fully funded program runs June 14-18 at UChicago & introduces PhD students outside UChicago to price theory.

https://bfi.uchicago.edu/events/event/2026-price-theory-summer-camp/

Applications are now open for the 2026 Price Theory Summer Camp!
Designed for PhD students outside UChicago, the program focuses on applying core economic tools to real problems.
🗓️ June 14–18
📝 Apply by March 1
🔗 https://ow.ly/k6ON50Y8mQt

Applications are open for the 2026 Chicago School in Experimental Economics (CSEE), Nov 4–8 in Buenos Aires.

An intensive one-week course based on John A. List’s forthcoming textbook, covering the full spectrum of experimental design and analysis.

Apply: https://ow.ly/qTi050Yljne

Fast Action for Floods: Why Timing Matters in Humanitarian Cash Transfers | Becker Friedman Institute Advances in weather forecasting have revolutionized the delivery of humanitarian aid. Thanks to early-warning weather systems, aid organizations can now deliver aid more urgently following the onset of a disaster. As of last year, forecast-based anticipatory action (FbAA) had become a cornerstone of programming for major institutions including World Food Programme (WFP), United Nations Office Read more...

Households in Nepal and Bangladesh that received cash assistance within days of a flood saw gains in food security and psychosocial well-being compared to those who received aid 1–1.5 months later.

New research by Erin M. Kelley and Gregory Lane. https://ow.ly/K6lj50Yl5F5

📢 Call for Papers: 2026 Reproduction of Society Conference

How do contraception, fertility preferences, and policy design shape the modern fertility decline?

Submit your paper by April 3, 2026. Learn more: https://ow.ly/1brw50YkvFY

@drdanasuskind.bsky.social @johnlist.bsky.social

If this resonates with your work, we invite you to express your interest here by March 15: redcap.uchicago.edu/surveys/?s=Y...

With support from the Becker Friedman Institute, TMW is launching an international research incubator inviting interdisciplinary researchers and practitioners to embed the SPEAK into studies worldwide. Research funds are available.

Caregiver beliefs shape how children learn and thrive — but until now, there's been no scalable way to measure them globally. The SPEAK technology, developed by the TMW Center at UChicago, changes that.

Looking for a smart, weekly snapshot of UChicago Economics? BFI's Weekly Briefing brings together new research, events, and conversations from across the Becker Friedman Institute.

Subscribe here: https://ow.ly/bVE250Y5rlu

How Does AI Distribute the Pie? Large Language Models and the Ultimatum Game | Becker Friedman Institute The ability of Large Language Models (LLMs) to engage in plain-language conversations, to reason, and to problem-solve makes them increasingly attractive companions for a variety of tasks, including routine coding, text writing, and providing advice. However, questions remain about LLMs’ effectiveness at other human-related tasks, including autonomous decision-making. What, for example, is the expected behavior Read more...

How do large language models divide the pie?

In an ultimatum game experiment, researchers find LLMs may be ill-suited for certain autonomous economic tasks.

New brief by Douglas K.G. Araujo and Harald Uhlig. https://ow.ly/NB5r50YibAc

For decades, much of China’s policymaking began locally—through experimentation and competition among officials. Shaoda Wang analyzes 3.7M government documents to trace how that system worked—and the economic costs of recent centralization.

New ep. of The Pie: https://ow.ly/NQfs50YhlOr

Applications are now open for the 2026 Price Theory Summer Camp!

Designed for PhD students outside UChicago, the program focuses on applying core economic tools to real problems.
🗓️ June 14–18
📝 Apply by March 1

🔗 https://ow.ly/B1V450Y8mQv

Center Spotlight: Gracias Center for Human Sciences and Well-Being | Becker Friedman Institute Launched in Fall 2025 through a gift from the Gracias Family Foundation, the Gracias Center for Human Sciences and Well-Being represents the newest frontier in economics advanced by BFI. By focusing on both beliefs and scaling, the Center deepens understanding of human development, well-being, and the drivers of positive outcomes worldwide. As a first step, Read more...

The Gracias Center for Human Sciences and Well-Being launched in Fall 2025 with a gift from the Gracias Family Foundation.

Early work includes a collaboration with the TMW Center for Early Learning + Public Health.

Read more: https://ow.ly/f9Rp50Yh7lC

The latest BFI Weekly Briefing is out! 🗞️💡📈

Catch up on new research, policy-relevant insights, and updates from the Becker Friedman Institute. Read it here: https://ow.ly/Fsc350Y9Xyi

Who Chooses and Who Benefits? The Design of Public School Choice Systems | Becker Friedman Institute Over the last two decades, US public school districts have rapidly expanded school choice, providing students with options such as magnet schools, dual-language programs, and theme-based academies, all within their own districts. These reforms are aimed at combatting stark educational disparities—within the same district, students at the lowest-performing schools fall nearly two-thirds of a grade Read more...

District-run public school choice boosts achievement—about one grade level. But opt-in systems miss the students who’d benefit most. New research shows mandatory centralized assignment could double these gains. Campos, Chyn, Bruhn & Vazquez https://ow.ly/w2P950Y9AxR

Looking for a smart, weekly snapshot of UChicago Economics? BFI's Weekly Briefing brings together new research, events, and conversations from across the Becker Friedman Institute.

Subscribe here: https://ow.ly/bVE250Y5rlu

Introduction to Chicago Economics: Macroeconomic Analysis is now open.
Designed for rising high school seniors, this summer program introduces macroeconomic analysis through data, theory, and real-world application—true to the Chicago Economics tradition. https://ow.ly/pNcG50Y8rHi

Who really paid for the 2025 tariffs?

UChicago economist Brent Neiman returns to The Pie to discuss new research with Gita Gopinath on tariff incidence, why U.S. importers bore most costs, and the long-term economic and diplomatic fallout.

🎧: https://ow.ly/FcuV50Y8rpk

Applications are now open for the 2026 Price Theory Summer Camp!
Designed for PhD students outside UChicago, the program focuses on applying core economic tools to real problems.
🗓️ June 14–18
📝 Apply by March 1
🔗 https://ow.ly/k6ON50Y8mQt

Please apply! This year we're especially interested in early-stage projects so slide decks are welcome :)

Deadline approaching! Women in Empirical Micro Conference in Chicago

Please send us your empirical papers. We look forward to reading your submissions!
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Human Capital for Humans An accessible introduction to the most consequential science of modern life. University of Chicago economist Gary Becker won the Nobel Prize largely for his advancement of human capital theory—the ide...

📘 Human Capital for Humans (University of Chicago Press, 2025) press.uchicago.edu/ucp/books/bo...

How should we understand human capital, and why does it still matter today?

A new Business Economics review examines UChicago economist Pablo Peña's "Human Capital for Humans", connecting modern research to the foundations laid by Gary Becker. https://ow.ly/qynH50Y6yZS

Chicago Tonight | The Supreme Court Has Yet to Decide on Trump's Tariffs | Season 2026 Nearly three months have elapsed since arguments in the closely watched case.

94 cents of every dollar in tariffs comes out of U.S. buyers’ pockets.
Watch BFI's Executive Director Ben Krause discuss UChicago economists’ research on PBS Chicago Tonight and what it means for consumers and trade policy. https://ow.ly/Bt8H50Y6suU

Africa as a Success Story: Political Organization in Pre-Colonial Africa | Becker Friedman Institute Social science research has long credited the emergence of politically centralized states with the development of institutions that enhance public good provision and better development outcomes, as well as allowing for the ability to fight wars, collect taxes, conduct international trade, manage natural resources, and otherwise respond to the demands of both state leaders and Read more...

New research by Soeren J. Henn and James Robinson challenges common views of pre-colonial Africa. Decentralized political systems prioritized local communities and shaped economic institutions around shared goals rather than centralized control or personal accumulation.

🔗 https://ow.ly/7aXE50Y5shY