| The University of Chicago's economics department is particularly well-known. In fact, an entire school of thought (the Chicago School of Economics) bears its name. Led by Nobel Prize laureates such as Milton Friedman, Ronald Coase, George Stigler, Gary Becker, Robert Lucas, James Heckman, and Robert Fogel, the university's economics department has played an important role in shaping ideas about the free market. The Chicago School of Economics is also famous for applying economic principles to every aspect of human life, as famously demonstrated by University of Chicago Professor Steven Levitt in his best-selling book, Freakonomics. Reference |  |