Ontology of Economics

PHI 637 (seminar, 3 credits). Registration number: [1]

Time: 1:00-3:50pm, Mondays, Fall Semester 2023

Room: Park 141, UB North Campus

Instructors: Barry Smith (Philosophy) and Emanuele Martinelli (Philosophy, University of Zurich)

Office hours: BS: by appointment via email; EM: by appointment via email

Course Description

All slides and videos will be made available at [this link]. The goal of the course is to give the students conceptual tools to understand and evaluate critically the philosophical assumptions of different schools of thoughts in economics. Debates between different approaches in economics may be sometimes reduced to ontological debates on the nature of social entities, e.g. institutions and the market, with respect to individual economic actors. Hence, the course aims at introducing the core concepts that build up the world of economics and how different interpretations of such concepts can support different economic claims and systems. The first part of the course introduces some useful topics in social ontology with an eye on economic applications: agency, complexity, information, collectivity. The second part of the course analyzes some themes underlying the works of the main contemporary economic school of thoughts, including classical and neoclassical economics, keynesian economics, institutional economics, Austrian economics, complexity economics, and marxist economics. Austrian economics will be given much relevance throughout the course because it is arguably the economic school of thought that makes the most open use of philosophical concepts in its theories. Part of the lectures will be devoted to the introduction of AI technology as a bearer of new possibilities and new understanding on the working of economic processes and society as a whole.

Student Learning Outcomes

Program Outcomes/Competencies	Instructional Method(s)	Assessment Method(s)
The student will acquire a knowledge of the philosophy of the social sciences in general and of economics in particular.	Lectures and class discussions	Review of reading matter and associated online content and participation in class discussions
The student will acquire experience in using the methods of philosophical argument, in formulating complex propositions pertaining to economic matters	Participation in practical experiments	Review of results
The student will acquire experience in formulating ideas using powerful persuasive prose.	Creation of documentation and youtube presentations	Review of results

How to Write an Essay

Steven Pinker, The Sense of Style, Penguin Books, 2014

Strunk and White, The Elements of Style

Harvard's guide to writing philosophy

Jim Pryor's guide to writing philosophy

Jordan Peterson's Essay Writing Guide

How to Use ChatGPT to write an essay

Important Dates

Sep 11	- submit book review choice, and start to discuss the content of your essay with Dr Smith
Sep 25	- submit proposed title and abstract of your essay
Oct 2	- last day to present book summary
Oct 23	- submit a table of contents of your essay and 300 word summary plus draft of associated ppt slides
Oct 30	- submit first draft of essay (~1000 words) and associated powerpoint (~10 slides)
Nov 13	- submit second draft of essay (~2000 words) and associated powerpoint (~10 slides)
Nov 20	- class presentation
Dec 10	- submit final version of essay and powerpoint slides and upload final version of video to youtube

Grading

Grading will be based on two factors:

I: understanding and criticism of the material presented in classes 1-13

All students are required to take an active part in class (and where relevant on-line) discussions throughout the semester.

II: preparation of an essay, and associated powerpoint slides and recorded presentation.

Content and structure of the essay should be discussed with Dr Smith.

Grading Policy: Grading follows standard Graduate School policies. Grades will be weighted according to the following breakdown:

Weighting Assignment

20% - class discussions

15% - youtube video presentation

15% - powerpoint slides

50% - essay

Final Grades

Percentages refer to sum of assignment grades as listed above

Grade Quality Percentage

A	4.0	90.0% -100.00%
A-	3.67	87.0% - 89.9%
B+	3.33	84.0% - 86.9%
B	3.00	80.0% - 83.9%
B-	2.67	77.0% - 79.9%
C+	2.33	74.0% - 76.9%
C	2.00	71.0% - 73.9%
C-	1.67	68.0% - 70.9%
D+	1.33	65.0% - 67.9%
D	1.00	62.0% - 64.9%
F	0	61.9% or below

An interim grade of Incomplete (I) may be assigned if the student has not completed all requirements for the course. An interim grade of 'I' shall not be assigned to a student who did not attend the course. The default grade accompanying an interim grade of 'I' shall be 'U' and will be displayed on the UB record as 'IU.' The default Unsatisfactory (U) grade shall become the permanent course grade of record if the 'IU' is not changed through formal notice by the instructor upon the student's completion of the course.

Assignment of an interim 'IU' is at the discretion of the instructor. A grade of 'IU' can be assigned only if successful completion of unfulfilled course requirements can result in a final grade better than the default 'U' grade. The student should have a passing average in the requirements already completed. The instructor shall provide the student specification, in writing, of the requirements to be fulfilled.

The university’s Graduate Incomplete Policy can be found here.

Related Policies and Services

Academic integrity is a fundamental university value. Through the honest completion of academic work, students sustain the integrity of the university while facilitating the university's imperative for the transmission of knowledge and culture based upon the generation of new and innovative ideas. See http://grad.buffalo.edu/Academics/Policies-Procedures/Academic-Integrity.html.

Accessibility resources: If you have any disability which requires reasonable accommodations to enable you to participate in this course, please contact the Office of Accessibility Resources in 60 Capen Hall, 645-2608 and also the instructor of this course during the first week of class. The office will provide you with information and review appropriate arrangements for reasonable accommodations, which can be found on the web here.

University suppert services: Students are often unaware of university support services. For example, the Center for Excellence in Writing provides support for written work, and several tutoring centers on campus provide academic success support and resources.

Available resources on sexual assault: UB is committed to providing an environment free of all forms of discrimination and sexual harassment, including sexual assault, domestic and dating violence and stalking. If you have experienced gender-based violence (intimate partner violence, attempted or completed sexual assault, harassment, coercion, stalking, etc.), UB has resources to help. This includes academic accommodations, health and counseling services, housing accommodations, helping with legal protective orders, and assistance with reporting the incident to police or other UB officials if you so choose. Please contact UB’s Title IX Coordinator at 716-645-2266 for more information. For confidential assistance, you may also contact a Crisis Services Campus Advocate at 716-796-4399.

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Counseling Services: 120 Richmond Quad (North Campus), phone 716-645-2720

Health Services: Michael Hall (South Campus), phone: 716-829-3316

Health Promotion: 114 Student Union (North Campus), phone: 716- 645-2837