DEFINITION of 'Gary S. Becker'

An American economist who won the 1992 Nobel Prize in Economics for his microeconomic analysis of human behavior and interaction. Before Becker, human behavior was primarily analyzed within the framework of other social sciences, such as sociology. His prize-winning research focused on investments in human capital, family/household behavior, crime and punishment and discrimination in markets.

BREAKING DOWN 'Gary S. Becker'

Born in 1930 in Pennsylvania, Becker earned his Ph.D. from the University of Chicago, and numerous universities have awarded him honorary doctorate degrees. He taught at Columbia University before returning to the University of Chicago, to continue teaching in the departments of economics and sociology and in the business school. In addition to the Nobel Prize, Becker was awarded the John Bates Clark medal in 1967 and the Presidential Medal of Freedom in 2007.

RELATED TERMS
  1. Ronald H. Coase

    A British economist who won the 1991 Nobel Memorial Prize in ...
  2. Lawrence Klein

    An American economist and winner of the 1980 Nobel Memorial Prize ...
  3. Merton Miller

    Merton Miller was a noted economist who received the Nobel Prize ...
  4. Richard Stone

    Richard Stone is a British economist who won the 1984 Nobel Memorial ...
  5. Kenneth Arrow

    An American neoclassical economist who won the Nobel Memorial ...
  6. Herbert A. Simon

    An American economist and social scientist who won the Nobel ...
Related Articles
  1. Insights

    Where Does the Nobel Prize Money Come From?

    The cash award associated with the Nobel Prize has changed in value considerably since the first awards in 1901. How does the Nobel Foundation invest its money?
  2. Trading

    Leading Indicators Of Behavioral Finance

    Discover how put-call ratios and moving averages can be used to analyze investor behavior.
  3. Investing

    4 Behavioral Biases And How To Avoid Them

    Here are four common common behavioral biases for traders and how to minimize their effects on your portoflio.
  4. Investing

    What is a 2016 Olympic Gold Medal Worth?

    Gold is on the rise, but the value of a gold medal is less than you would think.
  5. Personal Finance

    The Seven-Figure Asset You’re Probably Ignoring

    What is human capital and how should it factor into your investment decisions?
  6. Trading

    Understanding Investor Behavior

    Discover how some human tendencies can play out in the market, posing the question: are we really rational?
  7. Small Business

    The Value Of A "Useless" Degree

    Think a humanities degree will leave you penniless? Think again.
RELATED FAQS
  1. What kinds of topics does microeconomics cover?

    Read about the purpose, derivations and uses of microeconomics, and see how the interaction of scarcity and choice drives ... Read Answer >>
  2. How do managers measure human capital?

    Learn what human capital is, how managers measure it and how managers measure human capital's return on investment to gauge ... Read Answer >>
  3. What is the relationship between human capital and economic growth?

    Learn what human capital and economic growth are, how human capital is related to economic growth and see examples of the ... Read Answer >>
  4. How do firms improve their employees' human capital?

    Learn what human capital is, how a firm can benefit from improving human capital and some ways a firm can improve its employees' ... Read Answer >>
  5. What math skills do I need to study microeconomics?

    Find out how and why mathematics are used in microeconomics, what its limitations are and the kinds of math skills that economics ... Read Answer >>
Hot Definitions
  1. Leverage

    Leverage results from using borrowed capital as a source of funding when investing to expand the firm's asset base and generate ...
  2. Financial Risk

    Financial risk is the possibility that shareholders will lose money when investing in a company if its cash flow fails to ...
  3. Enterprise Value (EV)

    Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market ...
  4. Relative Strength Index - RSI

    Relative Strength Indicator (RSI) is a technical momentum indicator that compares the magnitude of recent gains to recent ...
  5. Dividend

    A dividend is a distribution of a portion of a company's earnings, decided by the board of directors, to a class of its shareholders.
  6. Inventory Turnover

    Inventory turnover is a ratio showing how many times a company has sold and replaces inventory over a period.
Trading Center