Dec 03, 2021  
2020-2021 UMaine Undergraduate Catalog 
2020-2021 UMaine Undergraduate Catalog [ARCHIVED CATALOG]

ECO 416 - Evolutionary Economics

Evolutionary Economics is a rigorous exploration of the dynamics of human economies and their social underpinnings, giving students the ability to use economic logic far beyond its usual confines.  Students will learn how (and how not) to apply the Darwinian model of adaptive evolution (variation, selection and transmission) to market evolution, as well as human culture, behavior, and institutional change.  The course also integrates new literature on the evolution of cooperation and multilevel selection to provide a solid mechanistic model of the dynamics of institutions, economies and societies.  The course covers historical and current evolutionary approaches to economics and students will learn how an evolutionary approach connects to the other social sciences.  We study emergence of social and economics adaptations of individuals, governments, corporations and other organizations.  Students build evolutionary accounts of economic systems, characterize evolutionary forces acting in economic systems, suggest interventions to improve outcomes.  Students complete a major project on an evolving economic system of their choosing.  Students will be introduced to the analytical tools of evolutionary game theory and agent-based modeling.  

ECO 416 and 516 cannot both be taken for credit

General Education Requirements: Writing Intensive and Social Contexts and Institutions

Prerequisites: ECO 120 and ECO 121 and Sophomore standing or permission.

Course Typically Offered: Alternate years

Credits: 3