Programs

Introduction to Chicago Economics–Macroeconomic Analysis

July 12 to July 30, 2027

We frequently encounter macroeconomic data (e.g., GDP, industrial production, inflation, stock prices). This program provides rising high school seniors with an introduction to the economic methodology as applied to macroeconomic analysis, delivering a rigorous academic experience that reflects the University of Chicago's intellectual standards. True to the hallmark of Chicago Economics, we treat economics as a social science: students develop theories to interpret real-world events and confront these theories with data to assess their validity.

Students will gain an introduction to the economic approach as applied to macroeconomic analysis. The program begins by examining the role of prices in allocating resources, builds an analytical framework for macroeconomic studies, and applies this framework to fiscal, monetary, and international trade policies. Afternoon sessions offer opportunities to explore ideas developed at Chicago, read relevant articles, and analyze data to deepen their understanding of macroeconomic theory.

Key topics include:

Efficiency and market failures
Unintended consequences of policy interventions
Economic growth and its determinants
Human capital, labor markets, and AI
Financial markets
Fiscal, monetary, and trade policies

Rising high school seniors who are at least 15 years old are preferred
Strong coursework in mathematics is required, as the course relies on equations and diagrams as part of the instructional mode of delivery. A course in calculus is preferred.
A prior exposure to economics and statistics is preferred but not required.
The program's medium of instruction will be in English, so students should be comfortable in an English-speaking learning environment
Applicants must be Hong Kong residents or be eligible to study in Hong Kong during the program period

Classes will be held Monday through Friday from 9:00 to 14:00. While each day varies slightly in format, a typical day includes:

Time	Activity
9:00 – 11:45	Morning Session (incl. 20-minute break)
11:45 – 12:45	Lunch
12:45 – 14:00	Afternoon Session
14:30 – 16:00	Optional Group Work/Office Hours

For each of our Summer Academy programs, students will also have the opportunity to participate in sessions led by a UChicago admissions counselor to better understand the highly selective admissions process practiced by U.S. colleges and universities. Such sessions will give students a window into the role that essays play in the application and how an application is holistically reviewed for admission.

Participants who successfully complete the Introduction to Chicago Economics will be eligible for the UChicago Summer Session Early Notification (SSEN) application option.

Kotaro Yoshida is a Senior Associate Instructional Professor and Co-Director of Undergraduate Studies. His teaching and research focus on macroeconomics, money and banking, and related fields. He earned his Ph.D. in Economics from Duke University and has been teaching at UChicago since 2012.

The University of Chicago Kenneth C. Griffin Department of Economics is a globally renowned academic center known for pioneering the “Chicago School” approach, which emphasizes free-market principles, empirical rigor, and critical debate. The department has produced many Nobel laureates and influential thinkers, excels in both theoretical and applied research across diverse economic fields, and maintains strong ties with leading policy institutes. Its undergraduate and graduate programs attract top students who go on to shape economics worldwide, fostering a vibrant intellectual community committed to advancing economic knowledge and policy.

Application Opens:
Summer Priority Deadline: January 13, 2027
Summer Regular Deadline: March 3, 2027

[Refer to UChicago Summer Sessions Admissions]

Application submitted:	Hong Kong Dollars
Before January 13, 2027	$
Between January 14 and March 3, 2027	$

Program fee includes the academic sessions, use of the UChicago campus in Hong Kong facilities, one meal and refreshments during on-campus days, and shuttle buses to and from campus and Kennedy Town MTR Station. Program Fees are non-refundable once paid unless the program is canceled by the UChicago campus in Hong Kong.

From 2026's participants

The most important thing I learned was how economists use simplified models to study complex real-world problems. Before the course, I often viewed topics like inflation, tariffs, taxation, minimum wages, monopoly power, and economic growth as separate issues. The course helped me see that I could analyze them through a common framework that includes incentives, trade-offs, marginal decision-making, and unintended consequences.

I particularly appreciated learning how to take basic economic ideas and develop a more detailed analysis using diagrams, equations, and real evidence. For example, I learned how elasticity influences tax incidence, how tariffs can create both benefits and losses, and how physical capital, human capital, labor, and productivity contribute differently to economic growth. Research like Card and Krueger’s work on minimum wages also taught me to test economic conclusions against evidence instead of accepting them just because they seem reasonable in theory. ”

Professor Yoshida was exceptional at grounding abstract economic theory in intuitive real-world applications, from historical bank runs and ticket scalping to AI’s impact on human labour. He framed economics around critical questions which made lectures engaging. Moreover, he held daily morning office hours before lecture and even lunchtime sometimes showed a high level of dedication to help us succeed. ”

This program gave me a wider perspective on the subject of economics beyond just the statistics and formulae. Whether it was economic history or UChicago impact, I became a much better-rounded student. The intensity of the program taught me the importance of note-taking, and I vastly improved over the three weeks. ”

You have questions about the Introduction to Chicago Economics–Macroeconomic Analysis?

Email us: hkprograms@uchicago.edu