180099 SE Modelling in Economics (2020S)
Continuous assessment of course work
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Summary
Registration/Deregistration
Note: The time of your registration within the registration period has no effect on the allocation of places (no first come, first served).
- Registration is open from Fr 14.02.2020 09:00 to Mo 24.02.2020 10:00
- Registration is open from We 26.02.2020 09:00 to Mo 02.03.2020 10:00
- Deregistration possible until Th 30.04.2020 23:59
Registration information is available for each group.
Groups
Group 1
max. 15 participants
Language: English
Lecturers
Classes (iCal) - next class is marked with N
- Wednesday 11.03. 15:00 - 16:30 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
- Wednesday 18.03. 15:00 - 16:30 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
- Wednesday 01.04. 15:00 - 18:15 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
- Wednesday 22.04. 15:00 - 18:15 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
- Wednesday 06.05. 15:00 - 18:15 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
- Wednesday 20.05. 15:00 - 18:15 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
- Wednesday 03.06. 15:00 - 18:15 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
- Wednesday 17.06. 15:00 - 18:15 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
Aims, contents and method of the course
Group 2
max. 15 participants
Language: English
LMS: Moodle
Lecturers
Classes
Wednesdays from 11.03.2020 to 25.03.2020 15.00-16.30
Place: Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Floor;
Wednesdays from 01.04.2020 to 24.06.2020 15.00-18.15
Place: Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Floor
Aims, contents and method of the course
An important question in the philosophy of economics is how economic models relate to the world we live in. Clearly, economic models only reflect at best some of the factors that are relevant for the economic systems of interest. This raises important questions, such as:
• Do economic models provide useful insight on how the economy functions? How do they provide such insights?
• How do economic models represent, explain or predict?
• How can we assess the fruitfulness of economic modeling?
• What is the role of econometrics or experiments in testing economic models?
• To what extent is economics different from other natural and/or social sciences?This course addresses the aforementioned questions, both from the perspectives of economics and philosophy of science. The main goal is to get acquainted with different philosophical and methodological accounts of economic modeling, and use them to get a better understanding of the different roles economic models play.The course contains two introductory lectures, and 6 subsequent bi-weekly classes of 4 hours each. The two introductory lectures provide students an overview of the general philosophical discussion of scientific modeling (Knuuttila) and a more economic perspective on economic models (Janssen). In the subsequent 4 hour classes the philosophical and economic discussions are put into dialogue with each other. These classes focus on more specialized philosophical and methodological topics that will be discussed by making use of economic examples. In these classes students are also supposed to take an active role in presenting and discussing the readings and other material available at the course site in the Moodle.
• Do economic models provide useful insight on how the economy functions? How do they provide such insights?
• How do economic models represent, explain or predict?
• How can we assess the fruitfulness of economic modeling?
• What is the role of econometrics or experiments in testing economic models?
• To what extent is economics different from other natural and/or social sciences?This course addresses the aforementioned questions, both from the perspectives of economics and philosophy of science. The main goal is to get acquainted with different philosophical and methodological accounts of economic modeling, and use them to get a better understanding of the different roles economic models play.The course contains two introductory lectures, and 6 subsequent bi-weekly classes of 4 hours each. The two introductory lectures provide students an overview of the general philosophical discussion of scientific modeling (Knuuttila) and a more economic perspective on economic models (Janssen). In the subsequent 4 hour classes the philosophical and economic discussions are put into dialogue with each other. These classes focus on more specialized philosophical and methodological topics that will be discussed by making use of economic examples. In these classes students are also supposed to take an active role in presenting and discussing the readings and other material available at the course site in the Moodle.
Information
Assessment and permitted materials
Students should be present at least 7 out of the 8 sessions and read the relevant material in advance of the lecture and be actively involved in the general discussion. Students should also present articles in some of the sessions. 50% of the final grade is determined by these two elements (presentation 25%, active participation 25%). The other 50% is assigned to a final essay.
Work on the final essay is organized as follows. A student writes a one-page proposal. These proposals are uploaded one week before the Essay clinic by all students and both professors. On the basis of the feedback in the discussion in the Essay clinic, the essay of at most 2000 words is written. The final draft is graded by both professors. Deadline for the final essay is July 20, 2020.
Work on the final essay is organized as follows. A student writes a one-page proposal. These proposals are uploaded one week before the Essay clinic by all students and both professors. On the basis of the feedback in the discussion in the Essay clinic, the essay of at most 2000 words is written. The final draft is graded by both professors. Deadline for the final essay is July 20, 2020.
Minimum requirements and assessment criteria
Students should be present at least 7 out of the 8 sessions and read the relevant material in advance of the lecture and be actively involved in the general discussion. Students should also present articles in some of the sessions. 50% of the final grade is determined by these two elements (presentation 25%, active participation 25%). The other 50% is assigned to a final essay.
Work on the final essay is organized as follows. A student writes a one-page proposal. These proposals are uploaded one week before the Essay clinic by all students and both professors. On the basis of the feedback in the discussion in the Essay clinic, the essay of at most 2000 words is written. The final draft is graded by both professors. Deadline for the final essay is July 20, 2020.By registering for this course, you agree that the automated plagiarism check software Turnitin will check all written assignments you submitted in the Moodle.
Work on the final essay is organized as follows. A student writes a one-page proposal. These proposals are uploaded one week before the Essay clinic by all students and both professors. On the basis of the feedback in the discussion in the Essay clinic, the essay of at most 2000 words is written. The final draft is graded by both professors. Deadline for the final essay is July 20, 2020.By registering for this course, you agree that the automated plagiarism check software Turnitin will check all written assignments you submitted in the Moodle.
Examination topics
No examination
Reading list
Lecture 1 (March 11). Introduction to the philosophical discussion on modeling (Knuuttila)No literature, introductory lectureLecture 2. (March 18). Introduction to some economic models (Janssen)Akerlof, George A. 1970. "The Market for 'Lemons': Quality Uncertainty and the Market Mechanism". Quarterly Journal of Economics. The MIT Press. 84 (3): 488–500.Gibbard, A. and H. Varian. 1978. Economic Models. Journal of Philosophy 75: 664-77.Lecture 3. (April 1). RepresentationSuárez, Mauricio. 2003. "Scientific representation: against similarity and isomorphism." International Studies in the Philosophy of Science 17, no. 3: 225-244. https://doi.org/10.1080/0269859032000169442.Boumans, M. 1999. “Built-In Justification.” In Models as Mediators. Perspectives on Natural and Social Science, edited by M. S. Morgan and M. Morrison, 66-97. Cambridge: Cambridge University Press.Lecture 4. (April 22). IdealisationElliott-Graves, Alkistis and Michael Weisberg. 2014. "Idealization" Philosophy Compass 9, no. 3: 176-185. https://doi.org/10.1111/phc3.12109Knuuttila, Tarja and Mary S. Morgan. 2019. "Deidealization: No Easy Reversals" Philosophy of Science 86, no. 4 (October): 641-661. https://doi.org/10.1086/704975Lecture 5. (May 6). Caricatures, fictions, toy modelsLuczak, Joshua. 2016. "Talk about toy models" Studies in History and Philosophy of Modern Physics 57 (February): 1-7. https://doi.org/10.1016/j.shpsb.2016.11.002Sugden, Robert. 2010. "Credible worlds: the status of theoretical models in economics." Journal of Economic Methodology 7, no. 1: 1-31. https://doi.org/10.1080/135017800362220Lecture 6. (May 20). Simulations and agent-based modelsLenhard, Johannes. 2015. "Computer Simulation." In The Oxford Handbook of Philosophy of Science, edited by Paul Humphreys. Oxford: Oxford University Press. https://doi.org/10.1093/oxfordhb/9780199368815.013.42.Grüne-Yanoff, Till. 2011. "Models as products of interdisciplinary exchange: Evidence from evolutionary game theory." Studies in History and Philosophy of Science 42, no.2 (June): 386-397. https://doi.org/10.1016/j.shpsa.2010.12.004Lecture 7. (June 3). Experimental and behavioural economicsAngner, Erik. 2019. "We're All Behavioral Economists Now," Journal of Economic Methodology 26 no.3: 195–207. https://doi.org/10.1080/1350178X.2019.1625210Guala, Francesco. 2008. "Paradigmatic Experiments: The Ultimatum Game from Testing to Measurement Device." Philosophy of Science 75, no. 5 (December): 658-669. https://doi.org/10.1086/594512Lecture 8. (June 17). Essay clinic
Association in the course directory
Last modified: Sa 08.07.2023 00:17
• Do economic models provide useful insight on how the economy functions? How do they provide such insights?
• How do economic models represent, explain or predict?
• How can we assess the fruitfulness of economic modeling?
• What is the role of econometrics or experiments in testing economic models?
• To what extent is economics different from other natural and/or social sciences?This course addresses the aforementioned questions, both from the perspectives of economics and philosophy of science. The main goal is to get acquainted with different philosophical and methodological accounts of economic modeling, and use them to get a better understanding of the different roles economic models play.
The course contains two introductory lectures, and 6 subsequent bi-weekly classes of 4 hours each. The two introductory lectures provide students an overview of the general philosophical discussion of scientific modeling (Knuuttila) and a more economic perspective on economic models (Janssen). In the subsequent 4 hour classes the philosophical and economic discussions are put into dialogue with each other. These classes focus on more specialized philosophical and methodological topics that will be discussed by making use of economic examples. In these classes students are also supposed to take an active role in presenting and discussing the readings and other material available at the course site in the Moodle.Target group: Master Students in Philosophy and EconomicsPrerequisites: Introductory course on philosophy of science and/or introductory course on microeconomics