Econ 101: Chicago? M.I.T.? Nope, Berkeley's on Top

The California university is reshaping the economic profession.

The left coast rules.

Photographer: David Madison/Getty Images

Which is the greatest university economics department of them all? Many people would answer "Chicago." After all, University of Chicago econ has a whole school of thought named after it -- the Chicago school is a term used to refer to free-market fundamentalism and the belief that economic actors are always rational. Chicago is home to the largest number of Nobel laureates in economics, and has been home base for such titans as Milton Friedman, Robert Lucas and Gary Becker. 

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