Masterstudium Business Informatics - Fakultät für Informatik, TU Wien

SBA/AEE - Advanced Economics - Evolutionary Economics
ECTS-Credits: 6.0
Summary: This module presents selected advanced topics in economic theory, which are
particularly suited to be supported by simulation methods. Many of these topics can be
summarized under the overarching concept of evolutionary economics. The respective
lecture provides an introductory overview both from a historical perspective as also
from a technical perspective of evolutionary economic theory. It builds on an already
assumed knowledge of standard macroeconomics of the audience. The seminar complements
this more general survey by providing a detailed study of a sample of particularly
successful models of agent based modeling in the social sciences. In particular modeling
techniques concerning heterogeneous model-building agents are discussed.
Learning Outcomes:
Knowledge:
Skills:
• Knowledge about alternative economic approaches to understand the economy
• Knowldge about classic evolutionary (economic) theory (Malthus, Darwin, Veblen,
Schumpeter, Winter, Wilson) as well as modern approaches using computational
social simulation especially agent based simulation
• Knowledge about the limitations of economic models as well as alternative modelling
methods
• Ability to understand, condense, summarize, and present economic scientic research
papers, especially in the eld of computational economics
Competences:
• Deepening the own knowledge
• Enhancement of personal initiative and responsibility
• Developing scientic interest
• Ability to present scientic results
Syllabus:
• Evolutionary economics: Introduction and overview of evolutionary economics; some
classics on evolution (Malthus, Darwin, Veblen, Schumpeter, Winter, Wilson);
Richard Day's Malthus Model; Schumpeterean models in endogenous growth theory;
Schumpeterean approaches of the Goodwin School; alternative new non-linear
models of evolutionary theory; the origin of life models of self-organization in
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