Zubair Ghias knows that he went to one of the greatest schools in the world for economics, the University of Chicago. Graduates and others affiliated with the Chicago School of economics have won or won part of 22 Nobel prizes in the 45 year history of the Nobel Prize in Economics. One of the ways that many people think of the Nobel Prize in Economics is based on the school of thought that the winner based their works on and 13 times it has been based on the Chicago School of Economic Thought.
The Chicago School of Economic thought largely came around because of the many professors who over the years created a neoclassical school of thought which is a line of thought that reject Keynesianism economic theory in favor of monetarism and then in the 1970’s embraced new classical microeconomics. New Classical microeconomics is based largely on the idea of rational expectations.
Zubair Ghias knows that the school has basically had three waves of economic thought which has shown an evolution in the theories associated with the school. The first wave is often referred to as “Old Chicago” school of economics. That wave included Frank Hyneman Knight who wrote the influential book, Risk Uncertainty and Profit. He was also known as one of the professors who taught one of the greatest economic minds in American History, Milton Freidman.
Zubair Ghias knows that the education he received at the University of Chicago is second to none and is proud of his school’s many accomplishments.