Professor Butos earned his B.A. and M.A. in Economics from Brooklyn College, CUNY. His master’s thesis was titled "A Critical History of the Wages Fund Doctrine." He went on to earn a Ph.D. in Economics from the Pennsylvania State University, writing a dissertation entitled "Subjectivism in the Development of Monetary Theory: Implications of Austrian Themes."

Professor Butos's areas of interest include the economics of science, monetary economics, and institutional economics and he is currently researching the economics of science, Government science policy, and business cycles.  In addition to teaching undergraduate and graduate courses at Trinity, he has been a Visiting Research Fellow in New York University's Austrian Economics Program since 1993 and lectures at the Foundation for Economic Education during the summer.