Course Description

Some claim that advanced AI will greatly:

• 1. Accelerate economic growth,
• 2. Displace labor, and/or
• 3. Risk existential catastrophe.

This course covers a selection of tools in (mainly) economic theory relevant to evaluating the first two claims—and deciding what to do if some or all of them seem likely.

The course is designed primarily for graduate students in economics. Other students who might benefit from the content are also encouraged to apply, including undergraduates demonstrating exceptional academic achievement and computer science students.

Applying

The course will be free of charge.

The application deadline has passed.

Course Overview

In this course, we explore the interplay between artificial intelligence and economic growth through the lens of foundational and emerging models.

• Opening Weekend (August 16-17): (Optional but recommended) We revisit key concepts in economics, including utility and production functions, substitution, and the basics of growth, setting the stage for more advanced topics.
• 
  Week 1 (August 18-22): We dive into AI in standard growth models, beginning with automation’s role in production (both reduced-form and task-based models) and moving to its impact on research alone, and research combined with production. The week concludes by examining scaling and its implications.
• 
  Week 2 (August 25-29): We shift to alternative growth models, exploring Schumpeterian ideas, finance and knowledge distribution, and the trade-offs between efficiency, equality, and long-term welfare. The week ends by addressing philosophical questions about long-term survival versus flourishing and strategies for risk mitigation.

View a more detailed overview, including the syllabus.

Lecture Structure

Most of the lectures will be given by Phil Trammell, a postdoc in economics at DEL (Stanford). Some lectures will be given by Zach Mazlish, a doctoral student in economics at Oxford, while others will be conducted by guest lecturers, including Chad Jones, professor of economics at Stanford GSB.

Each day will consist of a morning lecture and an afternoon lecture, except the opening Saturday, which will only have an afternoon lecture. Each lecture will feature two 45-minute halves separated by a 15-minute break. Lectures will be recorded and immediately made available for the benefit of attendees, and may be made public afterward.

Questions? Please contact us.