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Clayton is Professor of Economics at Northern Kentucky University (NKU). He received his Ph.D. In Economics from the University of Utah, has taught economics and finance at several universities, and has authored five books and a number of articles in professional journals. In 2004 he was the first American to be awarded an Honorary Doctorate from the People's Friendship University of Russia (P Dr. Clayton is Professor of Economics at Northern Kentucky University (NKU). He received his Ph.D.

In Economics from the University of Utah, has taught economics and finance at several universities, and has authored five books and a number of articles in professional journals. In 2004 he was the first American to be awarded an Honorary Doctorate from the People's Friendship University of Russia (PFUR) in Moscow. Most recently he was the recipient of the 2005 Frank Sinton Milburn Outstanding Professor award at NKU. Clayton has a long-standing interest in economic education.

He has directed and/or participated in numerous economic education workshops and is former Vice-President of the Kentucky Council on Economic Education. He is also a year 2000 Freedoms Foundation Leavey Award winner for Excellence in Private Enterprise Education, an Association of Real Estate License Law Officials (ARELLO) national Consumer Education Award winner.