Class 15: Advanced Microeconomics

September 8, 2016

From an abstract level, explore the main foundations underlying the examined economic accounts, drawing on Shannon’s theorem, the history of Mathematics, and information technology.

SCEPA and INET are proud to present an online economics class - advanced microeconomics - taught by Duncan Foley, the Leo Model Professor of Economics at The New School. The series includes videos of 14 class lectures, including Professor Foley's presentations and discussions with students.

Class 15: Effective Complexity and Theory Choice

The course can be generally described as an effort to awaken a certain reflection in the minds of those economists who had restricted their standpoint by presenting behavioral economics as a theory grounded on a sterilized and uniformed agent that does not in fact correspond to a real individual. The theoretical accounts presented in this course constitute an effort to combine insights and prolific ideas from various disciplines that could essentially inform a revised economic theory. Yet, one must equally keep in mind Shakespeare’s words (from Romeo and Juliet’s preface): “What here shall miss, our toil shall strive to mend.”

Advanced Microeconomics: Information and Behavior in Political Economy | Lecture 15 Effective Complexity and Theory Choice | Duncan Foley | Leo Model Professor of Economics at the New School for Social Research | Spring 2016