Information Economics

Course Number: 47817

This course is an advanced class on information, learning and communication. Topics include but are not limited to basic underpinnings of modeling information in economic decisions, including measuring the value of information and information design. These frameworks are used to study markets for information, including how a platform prices and sells information in an online market, how to design rating systems to incentivize a firm to produce a high quality product, and how a firm provides personalized product recommendations to consumers.

 

Degree: PhD
Concentration: Economics
Academic Year: 2023-2024
Semester(s): Mini 4
Required/Elective: Elective
Units: 6

Textbook(s):

Lecture: 100min/wk and Recitation: 50min/wk

Learning Objectives

Students will be able to break down and conceptualize the main forces determining information transmission in a variety of strategic environments. They will be able to analyze how these forces shape economic outcomes and policy responses. For instance, they will be able to provide insights about experts providing advice, investors seeking information about assets, politicians seeking to persuade voters, and the population interpreting the media. They will develop a tool kit for modelling these forces. They will be able to discuss how these tools can be used to write a paper, as well as how it can be used to think about more practical policy problems.