
Explore how narratives drive markets, spur booms and busts, and shape decisions beyond numbers. Learn from Robert Shiller's narrative economics and how media and virally shared stories influence outcomes.
Explore how narrative economics shapes markets, policy, and consumer decisions through viral stories, media framing, and public discourse.
Explore how narratives shape markets across centuries, fueling booms and busts from tulip mania to modern cycles, through animal spirits and collective psychology.
Explore how narratives shape individual and collective economic decisions, using trust, emotion, and social reinforcement to explain market booms, busts, and policy outcomes.
Explore the psychological foundations of economic narratives, from representativeness heuristic and affect heuristic to social amplification, and see how stories shape markets, investing, and policy.
Explore how behavioral economics and storytelling influence decisions through bounded rationality, cognitive biases, and social influences, with narratives shaping markets and triggering herd behavior.
Explore how economic narratives shape booms and busts, spread virally through Shiller's contagion model, and form self-reinforcing cycles via media and policy communication.
Explore narrative economics through qualitative and quantitative methods, combining deep reading with data driven text analysis to reveal how stories shape sentiment and drive economic action.
Investigate sentiment analysis and NLP techniques for economic narratives. Explore topic modeling and word embeddings to trace narrative tone and market effects.
Trace how economic narratives originate, evolve, and influence markets across traditional newspapers, archives, and digital media, using sentiment indices, narrative frequency indices, and APIs for real-time analysis.
Explore how the Great Depression became a pivotal moment in economic storytelling, shaping fear, technological unemployment, moral narratives, and public confidence that steered spending and policy responses.
Explore how inflation, deflation, and bank panics are shaped by narrative economics—powerful stories that influence choices and policy, creating feedback loops that drive economic outcomes.
Explore how technological revolutions shape market sentiment, fuel optimism and busts, and influence long-term economic change through narratives, cycles, and critical analysis.
Examine how narratives drive speculative bubbles and manias, from tulip mania to housing, using narrative contagion, Fomo, and psychological biases to explain price booms and crashes.
Examine how market crashes unfold as powerful narratives that frame causes, assign blame, and shape policy, risk perception, and recovery across events like 1929, 1987, and 2008.
Explore how investor psychology and financial media shape market sentiment, risk perception, and collective behavior through narrative frames, attention-driven trading, and meme-driven momentum.
Explore how narratives shape political economy and public perception to influence policy legitimacy, framing complex economics into relatable stories that resonate with values and identity.
Discover how policymakers craft and deploy narratives to steer economies through crises, using forward guidance and historical examples to influence public and market expectations.
Analyze how media shapes public opinion and economic policy through narrative framing and the media policy symbiosis, affecting framing, reaction, and outcomes.
Explore how narratives around cryptocurrency and blockchain—from bitcoin's 2009 origin to ICO mania and regulatory debates—shape perception, adoption, and price volatility through digital storytelling.
Explore how the 2008 crisis unfolded through narrative economics, revealing how pre-crisis myths, media framing, and post-crisis stories shaped policy, markets, and public trust.
Explore Covid-19 through narrative economics, showing how rapid stories shaped policy and behavior from wartime framing to the new normal and recovery stories.
Explore the competing narratives around artificial intelligence and automation, from job destruction fears to prosperity through human–machine collaboration, and how markets, policy, and education respond.
Explore how climate change becomes a narrative battlefield that shapes policy, markets, and public perception, contrasting burden and green growth frames, and highlighting global north–south asymmetries.
Explore how modern media and algorithmic amplification reshape economic discourse by democratizing storytelling, accelerating narrative contagion, and influencing policy and markets through real-time public sentiment.
Have you ever wondered why financial markets soar or collapse, often defying pure logic? Or why certain economic ideas, whether true or false, go viral and change the behavior of millions, causing bubbles or recessions? The answer isn't always in the cold data, but in something much more human: the stories we tell ourselves.
Welcome to Narrative Economics, the fascinating field popularized by Nobel Laureate Robert Shiller. This course will immerse you in the study of how popular stories—the accounts, myths, and explanations circulating in society—hold immense power to influence our individual and collective economic decisions, from buying a house to investing in the stock market or designing crucial public policies.
We'll explore how narratives spread like "epidemics," shaping expectations and causing real economic shifts. We'll go beyond traditional quantitative models to integrate psychology, history, behavioral economics, and data analysis (both qualitative and quantitative, including Natural Language Processing) to understand this hidden engine of the economy.
We will analyze impactful historical cases like Tulip Mania, the Great Depression, the Dot-Com Bubble, the 2008 financial crisis, and modern phenomena such as the cryptocurrency craze, the narrative impact of COVID-19, and emerging stories about Artificial Intelligence and climate change. You will learn to identify, track, and analyze these powerful narratives, understanding their life cycle and tangible impact.
By the end, you will not only see the economy in a completely new and deeper way, but you will also develop critical skills to interpret the world around you, anticipate trends, and make more informed decisions in an era defined by the stories we believe. Get ready to decipher the narrative code of the economy!