Universität Wien

180175 SE Modelling in Economics (2023W)

5.00 ECTS (2.00 SWS), SPL 18 - Philosophie
Continuous assessment of course work
ON-SITE

Summary

1 Janssen , Moodle
2 Knuuttila , Moodle

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 information is available for each group.

Groups

Group 1

max. 15 participants
Language: English
LMS: Moodle

Lecturers

Classes (iCal) - next class is marked with N

Tuesday 10.10. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 17.10. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 24.10. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 31.10. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 07.11. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 14.11. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 21.11. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 28.11. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 05.12. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 12.12. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 09.01. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 16.01. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 23.01. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 30.01. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228

Group 2

max. 15 participants
Language: English
LMS: Moodle

Lecturers

Classes (iCal) - next class is marked with N

Tuesday 10.10. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 17.10. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 24.10. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 31.10. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 07.11. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 14.11. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 21.11. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 28.11. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 05.12. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 12.12. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 09.01. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 16.01. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 23.01. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228
Tuesday 30.01. 11:30 - 13:00 Hörsaal 2i NIG 2.Stock C0228

Information

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 then 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?
• 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 to use them to get a better understanding of the different roles models play in economics.

Assessment and permitted materials

Active participation in the seminars
Online discussion in Moodle
Co-chairing: each student needs to co-chair one class
Group work: a presentation and a co-authored report

Minimum requirements and assessment criteria

Active participation (10%), online discussion (20%), chairing a class (10%), and group work (a presentation and a co-authored report (60%). All aforementioned components of the course have to be fulfilled for the successful completion of the grade. One unexcused absence is permitted.

Grading table
1 - (excellent) 90 - 100 points
2 - (good) 81 - 89 points
3 - (satisfactory) 71 - 80 points
4 - (sufficient) 61 - 70 points
5 - (insufficient) 0 - 60 points

Active participation in the seminars:
You need to attend to at least 11 classes and participate actively in the discussion. All assignments have to be done. NB: If you have more absences than one, and you have serious medical or other reasons to excuse your absence, please contact the TA as soon as possible.

Readings:
You have to prepare for the classes by reading the readings well enough to be able to summarize and discuss their basic argument(s).

Online discussion:
You have to submit a question on each of the readings to the Moodle. The questions should include a short justification of no more than 100 words. The question should be of a general/ methodological/ philosophical nature, and not any factual question that could be addressed by a google search. You have to send a question on the readings to the Moodle by noon on Monday, and also comment on at least one question sent by some other student by 5 pm on Monday. You are also expected to familiarize yourself with all the questions of the other students ahead of the class.

Co-chairing:
Each student needs to co-chair one class. This involves a) reading the Moodle discussion and giving a short overview of the online discussion, and b) choosing and reformulating 2-3 questions on readings, at least one question/reading, for further discussion in break-out groups. The co-chairs also need to provide the reformulated chosen questions in a written form to be handed in the class to the students (max. 100 words/ question), and to moderate the discussion of those questions in class. For the moderation to succeed, it is important to include all the students into the discussion!

Examination topics

A co-authored report on the group work that addresses one of the topics of the seminar presenting also an economic case. The report should be 4000 - 5000 words long, including references. The group work participants also anonymously evaluate the input of the other co-authors of the group work.

Reading list

Lecture 1: Introduction

Lecture 2:
Morgan, Mary S. 2012. The World in the Model: How Economists Work and Think. Cambridge: Cambridge University Press. (pp. 1-43)

Lecture 3:
Rodrik, Dani. 2016. Economics Rules: The Rights and Wrongs of the Dismal Science. New York: W.W. Norton & Company. Chapters 1-2 (pages 13-49)

Lecture 4:
Schelling, Thomas C. 1978. Micromotives and Macrobehavior, chapter 5: 137-56.

Sugden, Robert. 2000. “Credible Worlds: The Status of Theoretical Models in Economics.” Journal of Economic Methodology 7 (1): 1–31. https://doi.org/10.1080/135017800362220.

Lecture 5:
Pissarides, Chris. 1992. ”Loss of Skill During Unemployment and the Persistence of Unemployment Shocks.” Quarterly Journal of Economics 107: 1371-1391.

Cartwright, Nancy. 1999. “The Vanity of Rigour in Economics: Theoretical Models and Galilean Experiments.” Discussion paper series 43/99. Centre for Philosophy of Natural and Social Science.

Lecture 6:
Weisberg, Michael. 2007. “Three Kinds of Idealization.” The Journal of Philosophy 104 (12): 639–59. https://doi.org/10.5840/jphil20071041240.

Lecture 7:
Knuuttila, Tarja. 2011. "Modelling and Representing: An Artefactual Approach to Model-Based Representation". Studies in History and Philosophy of Science Part A, Model-Based Representation in Scientific Practice, 42 (2): 262–71.

Elgin, Catherine Z. 2004. “True Enough.” Philosophical Issues, 14: 113–131.

Lectures 8-11:
Group work presentations

Lecture 12:
Conclusions


Association in the course directory

Last modified: We 08.11.2023 13:47