Walk through examples examining the potential effects of modifying the canonical social interaction model.
Learn how the case of quantal response is described by the use of the social interaction model and receive an introduction to classical political economy.
Explore Adam Smith’s division of labor and Karl Marx’s barter economy from the perspective of social coordination through the hub and spoke model.
Learn Smith’s division of labor, Marx’s barter economy and explore the creation and use of commodity and non-commodity money.
Given the fact that society is indulged in money equilibrium, this lecture explores how the economy market functions.
Learn the equalization of the profit rate in market competition based on the Marxist perspective.
Learn Marx’s theory of the falling rate of profit in terms of the social interaction model, the alienation problem, and be introduced to Keynes’ perspective.
Explore basic postulates of the Walrasian and Keynesian economic standpoint while appropriating main ideas of the said economists in terms of the hub and spoke model.
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Copyright ©2024 Schwartz Center for Economic Policy Analysis The New School