Essential UCLA School of Economics: What was the UCLA School of Economics? Wesentliche UCLA-Schule für Wirtschaftswissenschaften: Was war die UCLA School of Economics? Lo esencial de la Facultad de Económicas de la UCLA: ¿Qué era la Facultad de Económicas de la UCLA? UCLA経済学部とは？UCLA経済学部とは？ Podstawowe informacje o UCLA School of Economics: Czym była UCLA School of Economics? O essencial da Escola de Economia da UCLA: O que era a Faculdade de Economia da UCLA? Экономическая школа Калифорнийского университета: Что такое Школа экономики Калифорнийского университета? 加州大学洛杉矶分校经济学院精华：加州大学洛杉矶分校经济学院是什么？ 加州大學洛杉磯分校經濟學院精華：加州大學洛杉磯分校經濟學院是什麼？

Welcome to the essential ideas  of the UCLA School of Economics.

The economics department of the  University of California, Los Angeles,

better known simply as UCLA, gained prominence  during the last few decades of the 20th century. mais conhecida simplesmente como UCLA, ganhou proeminência durante as últimas décadas do século XX.

Its focus on the role of institutions,  including property rights, regulations, O seu enfoque no papel das instituições, incluindo os direitos de propriedade e a regulamentação,

the legal system, and social norms, and how they  guided and influenced the economy, distinguished

it from most other economics programs. The approach of the UCLA School eventually became

known as New Institutional Economics and remains  a prominent force in economics to this day. conhecido como Nova Economia Institucional e continua a ser uma força proeminente na economia até aos dias de hoje.

The seeds of UCLA's success occurred in  1946 when Stanford-trained economist Armen As sementes do sucesso da UCLA surgiram em 1946, quando o economista formado em Stanford, Armen

Alchian joined the department. Contrary  to the general trend in economics at Alchian entrou para o departamento. Contrariamente à tendência geral da economia na

the time that favoured increasing government  intervention in the economy, Alchian's work que favorecia a crescente intervenção do governo na economia, o trabalho de Alchian

showed how entrepreneurs and businesses  seeking profits, combined with welldefined mostrou como os empresários e as empresas que procuram lucros, combinados com

property rights, were the most effective way to  align the interests of consumers and producers. direitos de propriedade, eram a forma mais eficaz de alinhar os interesses dos consumidores e dos produtores.

Alchian also introduced a different method  of teaching relying less on mathematics and Alchian também introduziu um método diferente de ensino, baseado menos na matemática e

more on intuition. Indeed, UCLA  became known for using words, mais na intuição. De facto, a UCLA tornou-se conhecida pelo uso das palavras,

rather than mathematical equations,  to describe and analyze economics.

Northwestern University-trained economist  Harold Demsetz joined UCLA permanently in 1971.

Demsetz extended the work already being  done on the effect of regulations on Demsetz alargou o trabalho que já estava a ser feito sobre o efeito da regulamentação na

the economy, particularly those concerning  large business and businesses that wanted economia, nomeadamente as que dizem respeito às grandes empresas e às empresas que pretendem

to merge or purchase other businesses. The combination of Demsetz and Alchian

created a formidable foundation  for UCLA's economics program, criou uma base formidável para o programa de economia da UCLA,

and the two published a number  of seminal academic studies, e os dois publicaram uma série de estudos académicos fundamentais,

including two in the prestigious  American Economics Review. incluindo duas na prestigiada revista American Economics Review.

Both were often noted as being worthy of  consideration for the Nobel prize in economics. Ambos foram frequentemente considerados dignos de consideração para o Prémio Nobel da Economia.

The school's unique approach to economics  started to attract other economists of note,

including Sam Peltzman, Benjamin  Klein, Jack Hirshleifer, and

George Hilton. And to this day, the UCLA School's George Hilton. E até hoje, a Escola da UCLA

tradition carries on in the work of hundreds of  economists who studied there during its prime. A tradição mantém-se na obra de centenas de economistas que aí estudaram durante o seu auge.

For more information on the UCLA economics visit EssentialUCLAeconomics.org,

and to learn about more essential  scholars, visitEssentialScholars.org