We live in a complex world with diverse people, firms, and governments whose behaviors aggregate to produce novel, unexpected phenomena. We see political uprisings, market crashes, and a never ending array of social trends. How do we make sense of it? Models. Evidence shows that people who think with models consistently outperform those who don't. And, moreover people who think with lots of models outperform people who use only one. Why do models make us better thinkers? Models help us to better organize information - to make sense of that fire hose or hairball of data (choose your metaphor) available on the Internet. Models improve our abilities to make accurate forecasts. They help us make better decisions and adopt more effective strategies. They even can improve our ability to design institutions and procedures. In this class, I present a starter kit of models: I start with models of tipping points. I move on to cover models explain the wisdom of crowds, models that show why some countries are rich and some are poor, and models that help unpack the strategic decisions of firm and politicians.
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Great content and lectures, that possibly provides new dimensions to look/explain the situation in context, I guess I will comeback for references to continue with this journey in to 'Model Thinking'
I love this course, and I want to thank you the University of Michigan and professor Scott for dedicating his time and putting all this information together.
I learned much more than anticipated. In fact I've already started exploring areas of my work that model thinking would apply and how to use the tools presented in this class. Highly recommend!
This is a fantastic course that I would recommend to anyone interested in learning how to think better. It introduced me to many topics that i want to learn more about. Thank you, Professor Page!
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