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Brooklyn Institute for Social Research @ 247 West 37th St, New York, NY
How do numbers relate to the world? What insights can we derive from data? How do we separate signal from noise? This course is an introduction to statistical thinking and its applications to data analysis at a level accessible to a broad audience with no prior statistical background. We’ll learn and make intuitive the fundamental methods and concepts of data quantification: linear regression, logistic regression, probability distribution,...
Brooklyn Institute for Social Research @ 247 West 37th St, New York, NY
From zero-sum games and the “prisoner’s dilemma” to rational actors and the Nash equilibrium, game theory has grown from a bold conjecture into a deeply influential mode of analysis in political science, economics, psychology, business, mathematics, and even military strategy. Based on a theory of simple card games developed by John Von Neumann and Oskar Morgenstern, game theory seeks to use these game situations to model human, computer, and...
Brooklyn Institute for Social Research @ 275 Madison Ave, New York, NY
This course is intended as a critical introduction to political economy. Students will evaluate these questions by reading selected writings from major figures in the field. We begin with extracts from Adam Smith’s The Wealth of Nations, introducing such complex notions as the labor theory of value, the benefits of free trade, productivity, and the division of labor. Although Smith grounded his claims in self-interest and market...
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Brooklyn Institute for Social Research @ 275 Madison Ave, New York, NY
This class is the study of a seemingly new financial and monetary age—one in which lending and borrowing, performed on an immense scale, play a central and driving role in national and international economic and political affairs. We’ll attempt to understand the workings of debt in its multiple dimensions–as a substitute for rising wages; as capital and a means of production; as a requirement for government spending; as a means of social and...
Brooklyn Institute for Social Research @ 275 Madison Ave, New York, NY
Money seems like a straightforward aspect of our daily lives. But underlying its everyday functionality in facilitating transactions, measuring the market value of goods and services, and serving as a store of wealth over time is a stubborn question about what money actually is. As the economist Perry Mehrling observes, “Money is always difficult, and it is more difficult than ever today.” We often conceive of money as a “neutral” medium...
Brooklyn Institute for Social Research @ 275 Madison Ave, New York, NY
Do capitalist societies have an inherent tendency toward economic, social, and political crises? Political economists have, over the course of the past 250 years, offered different frameworks to understand the existence of crises within capitalism: from Adam Smith’s “general glut” (when production exceeds demand) to Marx’s belief that the contradictions inherent in capitalism will lead to its eventual demise and the Keynesian attempt...
Brooklyn Institute for Social Research @ 68 Jay St, Brooklyn, NY
A somewhat new, and highly profitable, feature of the economic landscape is the “platform”—a digital infrastructure powered by algorithms and automation that enables users to connect and interact. Making platforms valuable are zero marginal costs, non-linear scaling effects, and the economics of networks—all of which lead to positive feedback mechanisms, winner-take-all dynamics, and dominance of the market by a single firm or technology....
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