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Advanced Microeconomics: Information and Behavior in Political Economy
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At the beginning of the course, the philosophy of social science in correspondence to its deviation from the natural science is debated, focusing on if science should address people in a different way than animals. Moreover, the subjects of the meaning of frequency and probability are examined. Afterwards, an overview of the Bayesian Theory is discussed, complementary to its limitations reaching reality and how this view is linked to the econometric theory, which is based on the former. The first lecture ends raising the topic of elementary information theory (Shannon's entropy) within a historical framework.
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