Mark Blyth on the Danger of Mathematical Models

Mark Blyth on the Danger of Mathematical Models

Assessment

Interactive Video

Business

University

Hard

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The video uses an engine manual analogy to discuss the challenges in economic modeling. It highlights the limitations of mathematical models in economics, emphasizing the need for flexibility and empirical approaches. The video critiques the neoclassical worldview and suggests rethinking economic methodologies to better reflect real-world complexities.

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2 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What does the author suggest we need to rethink about economic models?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

What are the implications of challenging the established economic models according to the text?

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