Course: The Economics of AI
Modules:
Introduction, What is Intelligence?, Substrate Independence, Examples of Intelligent Entities, Agents, The Teleological Stance, Goals, Evolution of Intelligence, Introduction to Information Theory, Shannon Entropy, Information as a Decrease in Uncertainty, A Brief History of AI, From the Birth of AI to Deep Learning, The Human Intelligence Landscape, Comparing Human and Artificial Intelligence
Module 2 Introduction, Modeling the Production Process, Properties of Production Functions, Isoquants and Factor Price Frontiers, Modeling Technology, Parameterizing Technology, Bias of Technological Change, Decomposing Technological Change, Labor-Saving Technological Progress, The Task-Based Framework of Production, Tasks, Labor-Saving Progress, and New Tasks, Information Goods, A Model of Digital Innovation, Derivation of Demand Curve, Economic Effects of Digital Innovation, Economic Effects of Digital Innovation - Continued, Public Policy Implications, Production Networks, Solving the Problem, A Version of Hulten's Theorem
Introduction to AI and Growth, Malthusian Stagnation, Solving the Malthusian Model, Comparative Statics in a Malthusian World, Growth During the Industrial Age: the Solow Model, The Steady State in the Solow Model, Explaining Growth during the Industrial Age, AK-Style Endogenous Growth, Growth and AI: Opening up New Possibilities, Interview with Phil Trammell on Growth under Transformative AI (Optional), Capturing an Economic Singularity, Modeling Knowledge Accumulation
Introduction to Labor Markets and Inequality, History of Technology and Labor, Neoclassical Labor Market Equilibrium, Technological Progress and Labor Market Equilibrium, Technological Unemployment: Matching Frictions, Technological Unemployment: Efficiency Wages, Decline in the Labor Share, Skill-Biased Technological Change, Routine-Replacing Technological Change, Phasing Out Human Labor, Individual Losses from Job Displacement, Work and Meaning
Introduction, Technological Progress and Welfare, Possibility of Pareto Improvements, Technological Progress Under Perfect Insurance, Compensating Losers Under Costly Redistribution, Technological Progress Under Market Imperfections, Similarities of Technological Progress and Globalization, Economic Policy for the Age of  AI, Economic Policy and Utility Possibilities, Income Distribution, Managing the Transition to Less Work, Profit-Sharing: A Windfall Clause, Pre-Distribution, The Rents of Innovators, Competition, IPR and Information Policy, Technology Policy, Taxation in the Age of AI, Redistributive Objectives in Steering Technological Progress, Steering Technological Progress: Examples, Steering Progress Towards Non-Monetary Objectives, Interview with Katya Klinova (Partnership on AI)
Introduction to The Economics of Transformative AI, The Agents of Economic Activity, Towards a Broader Model of Economic Agents, Examples of Economic Entities, Malthusian Frontier, Preferences and Behavior, Worker-Replacing Machines, Where Are We On the Frontier?, Long-Run Viability of Humans, Measurement of an Economy with AI Agents, Hacking the Human Brain, The AI Control Problem, Delegation and Alignment, Direct and Social Alignment, Achieving Social Alignment, Epilogue: Interview with Joseph Stiglitz