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Learner Reviews & Feedback for Narrative Economics by Yale University

4.8
stars
420 ratings

About the Course

Dear Potential Learner, Please take some time to read through this note before deciding to enroll. This course, Narrative Economics, is relatively short and proposes a simple concept: we need to incorporate the contagion of narratives into our economic theory. You can think of narratives as stories that shape public beliefs, which in turn influence our decision making. Understanding how people arrived at certain decisions in the past can aid our understanding of the economy today and improve our forecasts of the future. Popular thinking heavily influences our answers to questions such as how much to invest, how much to spend or save, whether to go to college or take a certain job, and many more. Narrative economics is the study of the viral spread of popular narratives that affect economic behavior. I believe incorporating these ideas into our research must be done both to improve our ability to anticipate and prepare for economic events and help us structure economic institutions and policy. Until we better incorporate it into our methods of analysis and forecasting, we remain blind to a very real, very palpable, very important mechanism for economic change. Even in the dawning age of the Internet and artificial intelligence, so long as people remain ultimately in control, human narratives will matter. Maybe they will especially matter as the new technology exploits human weaknesses and creates new venues for narrative contagion. If we do not understand the epidemics of popular narratives, we cannot fully understand changes in the economy and in economic behavior. The course is broken into 4 modules: Part I introduces basic concepts and demonstrates how popular stories change over time to affect economic outcomes, including recessions, depressions and inequality as well as effective inspiration and growth.. These stories can be observed from diverse sources such as politics, the media, or even popular songs. Part II seeks to answer why some stories go viral, while others are quickly forgotten, by defining our narrative theory more firmly. This module enumerates and explores a list of seven propositions to help discipline any analysis of economic narratives. Part III examines nine perennial narratives that have proved their ability to influence important economic decisions. They include narratives regarding artificial intelligence, stock market bubbles, and job insecurity. Part IV looks to the future and highlights the opportunities for consilience in Narrative Economics. We share some thoughts about where narratives are taking us at this point in history and what kind of future research could improve our understanding of them. This course offers only the beginnings of a new idea and a few suggestions for how it could be used by economists and financial professionals. The tone is not prescriptive or authoritative, as perhaps my Coursera course, Financial Markets, is in places. It represents the beginning of the journey (epidemic). This course is my way of floating the “germ” of this idea out into the broader community of not only professionals but of anyone who is interested in discovering how and why things become “important” to us as a society. I hope some of you will become infected by this idea, mutate it, spread it, and advance it. The beginning of the journey is the easy part. The challenge will come in taking these concepts to the next level. We have the tools to incorporate narratives into our research and the moral obligation to act; only the work remains. - Robert J. Shiller...

Top reviews

AV

Jun 6, 2023

A very insightful and approachable course about the effects of human biases over the economic landscape and how social trends tend to leave a permanent mark on history and exact sciences like finance.

LA

Mar 10, 2024

I really enjoyed this course, it opened my eyes so much and I might keep going even though I only took this course out of fun, I was very interested in this topic. lucky me it Was interesting! Thanks

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76 - 100 of 135 Reviews for Narrative Economics

By Gabrielle A

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Jul 21, 2023

Unique perspective on economics from an excellent professor.

By peter j

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Feb 1, 2024

really interesting. one of the cutting edges of economics.

By SantiagoTrujillo

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Sep 29, 2023

Very interesting and important subjects, thanks a lot !!!

By Olalekan O

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Apr 30, 2023

Today's ideas and narratives may take off in the future.

By Aarya N

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Nov 4, 2023

Brilliant Work And Excellent Insight From The Professer

By ALSALMI, R D H

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Jun 27, 2023

This course is essential for a broader economic vision.

By Tjandra I

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Apr 29, 2023

The explanation is very clear. Simple but very usefull.

By Olympia R R

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Oct 9, 2023

It is a geat course. I learned interesting information

By Gustavo P

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May 5, 2023

Great course, complete content and with many details.

By Mark J B d L

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Jul 14, 2023

Lots of new, great, exciting ideas from this course!

By Dana D

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Apr 23, 2023

Interesting class with great references.

Thank you!

By Nishant T

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Jun 18, 2023

Awesome learning experience...best teacher by far

By Fok S

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Sep 29, 2023

It's a cool course which improves my knowledge.

By Surender K

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Apr 18, 2023

Very well Explained and Connected all the time.

By Thomas F

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Oct 25, 2023

Very interesting course, professor is awesome!

By Steve A

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Jul 24, 2023

Great course. Interesting and easy to follow.

By Pendo K

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Jul 16, 2023

Well done sir! BRILIANT COURSE AND EXECUTION.

By Carlos F

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Dec 30, 2023

Amazing course, totally recommended it

By Sara M

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Apr 11, 2023

It's a great course. I recommend it.

By Martin W

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Jun 22, 2023

Great insights towards consilience

By Bernd K

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Mar 28, 2023

It is a short summary of his book.

By Robert S

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Apr 13, 2023

Very interesting and informative

By Jenny d P

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Apr 30, 2023

Very interesting! Enjoyed it!

By Cid T

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Sep 12, 2023

It is useful & relevant topic

By 美原融

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Apr 26, 2023

Was exciting and interesting