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on
1
Intro
2
The external environment
3
The business cycle
4
Financial panics
5
Funding for economics
6
What do economists do
7
The business cycle model
8
The strategic contest
9
The Nash equilibrium
10
Learning algorithms
11
What we found
12
Multiplayer games
13
Fixed points
14
Computer simulation
15
Leverage cycles
16
Leverage
17
The Model
18
Key Fact
19
Value at Risk
20
AgentBased Models
Description:
Explore the complex systems approach to economics in this Oxford Mathematics Public Lecture. Delve into the challenges of predicting large-scale economic events and learn how insights from physical and natural sciences can offer alternative methods to standard economic forecasting. Discover successes of this new approach and gain a vision for the future of economics as it tackles global challenges. Examine topics such as the business cycle, financial panics, leverage cycles, and agent-based models. Understand the role of computer simulations, learning algorithms, and game theory in economic modeling. Gain insights from Professor J. Doyne Farmer, Director of the Complexity Economics program at Oxford, as he presents a fresh perspective on understanding and forecasting our complex economy.

How Can We Understand Our Complex Economy?

University of Oxford
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