Chapter 13-14 – How to make analogies and Prospects of Computer Modelling

Dear all,

this week we are talking about the way in which we make analogies and the connected issue of the computer modeling.
For this reason we want you to compare the presented process of the program Copycat to what we have been doing throughout the last weeks:

• In what way have we simplified complex issues to be able to deal with them?
• What mechanisms did we work out and take for granted to make our idea models work?
• How far did we rely on assumptions of traditional economics because these enable you a very simplified perspective on markets?
• Which do you think are the most dominant assumptions in our everyday life? (as economists)
• And which of these assumptions do you deem to be the most supportive and the most harmful for the progression of economists?

Special question: regarding the temperature function of copycat, how "hot" do you think economics is at the moment? Has it become more or less "hot" recently? (Think of for example Fukuyamas "End of History" or the divided Cold war paradigm in comparison to today.)

Looking forward to see all of you again in the next session,

All the Best,

Oindrilla & Valentin