ECON 2K03 Lecture Notes - Lecture 1: Wheat Pools In Canada, Strategy (Game Theory), Market (Place)
11 Dec 2017
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The study of long-term changes & transformations in economies and societies over decades or even centuries. Economic agents as managers maximizing subjects to constraints. Entrepeneurs looking for ways to change constraints. Economic history agents are (cid:494)entrepreneurs(cid:495: they change the constraints that economic agents are faced with. Economic history embraces complexity and messiness: not 100% certain we aren(cid:495)t (cid:883)(cid:882)(cid:882)% sure of what happened in the. History matters and not all economies behave the same. Most economic theory took a different path: e. g. We might have different attitudes about foreign investments: to understand where canada is going to go in the next 100 years, we, e. g. Economists build (cid:498)model(cid:499) economies (cid:498)the institutions and organizations of a specific economy were lost. Universal system rather than a particular system. Theory became ahistorical and built around abstract individuals. The real world is messy and not subject to mathematical analysis.
