Economics of the Internet and Artificial Intelligence: The Digital Revolution

Using microeconomic theory and case studies, this course explores the relationship between digital technologies (including artificial intelligence) and economic outcomes. Information access is continuous and ubiquitous, leading to networked markets. The drivers are data-driven decision-making, elimination of intermediaries, a content tsunami and scarcity of time. Models examined include graph theory, game theory, imperfect information, behavioral economics, network effects. New business models empower communities, while being scalable and asset-light. Implications are drawn for productivity, labor markets and economic inequality.