Artificial Intelligence and Economic Policy

Catalog description

This course explores the economic effects of the integration of Artificial Intelligence, especially generative AI and LLMs (large language models), into markets and society, and how economic policy might influence or be influenced by those effects. The course makes use of theoretical and empirical tools introduced in prior economics courses to study the effects of AI on labor market outcomes, educational choices, the pricing strategies firms use in imperfectly competitive markets, and the environmental effects of AI production. Various relevant policies, such as the minimum wage, taxes and subsidies, price controls, privacy regulations, and environmental protections, are studied and their effects are assessed.