DEFINITION of 'Gary S. Becker'

Gary S. Becker is 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'

Gary S. Becker was born in 1930 in Pennsylvania and earned his Ph.D. from the University of Chicago. Due to his unique and groundbreaking work, 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. John Bates Clark

    Jahn Bates Clark is an American Neoclassical economist renowned ...
  2. Ronald H. Coase

    Ronald H. Coase was a British economist who won the 1991 Nobel ...
  3. Vernon L. Smith

    An American economist who won the Nobel Prize in Economics in ...
  4. Lawrence Klein

    Lawrence Klein was an American economist and winner of the 198 ...
  5. Douglass C. North

    Douglass C. North was an American economist and winner of the ...
  6. Experimental Economics

    Experimental economics studies human behavior in a controlled ...
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. Find out where it come from today.
  2. 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.
  3. Insights

    Harvard and MIT Professors Win Nobel Memorial Prize in Economics

    British economist Oliver Hart, 68, and Finnish economist Bengt Holmström, 67, were honored with the award today for their contributions to contract theory.
  4. Managing Wealth

    Janet Yellen Success Story: Net Worth, Education & Top Quotes

    Look into the life and academic career of Janet Yellen, the first female chair of the Federal Reserve and a noted Keynesian economist.
  5. Investing

    As Hedge Funds Automate, Some Managers Prefer Human Analysts

    Some fund managers see human emotion and intuition as liabilities, but others see them as a positive.
  6. Investing

    3 Airline Stocks With Big Downside Risk

    Shares of American Airlines, United and Delta may lose even more altitude.
  7. Investing

    Don't Let Emotions Derail Investment Decisions

    Understanding behavioral finance can help you make better investing decisions.
  8. Financial Advisor

    Don't Ignore the Importance of Human Capital

    Are you ignoring the value of human capital in your financial planning? This oft-overlooked asset should be an important component of your financial plan.
RELATED FAQS
  1. How does economics study human action and behavior?

    Find out why economics can be considered a deductive social science, like sociology, and how human action and behavior informs ... Read Answer >>
  2. 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 >>
  3. What's the difference between microeconomics and macroeconomics?

    Microeconomics is the study of individuals and business decisions, while macroeconomics looks at higher up country and government ... Read Answer >>
  4. How does government policy impact microeconomics?

    Read about how any type of government policy necessarily impacts the microeconomic decisions that are made by individuals ... Read Answer >>
Trading Center