The first three sessions of this course introduce a framework for analysing the structure and evolution of economic and other social systems. We examine how the structure is constrained by available technologies including social technologies, as well as how the shadow of history and the distribution of power shape the social system. The approach draws on the new economics of institutions and emphasises property rights, transaction costs, power and the role of ideology. The remaining nine sessions examine how the new information and communication technologies (ICTs) impact economic systems by lowering the costs of communication, measuring and monitoring. We examine how digitisation of data, computerisation, the Internet, the blockchain, artificial intelligence and biotechnology have undermined the status quo.
This course is for 2nd year MIA and MPP students only.