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Learner Reviews & Feedback for Narrative Economics by Yale University

4.8
stars
673 ratings

About the Course

Dear Potential Learner, Please take some time to read through this note before deciding to enroll. This course, Narrative Economics, is relatively short and proposes a simple concept: we need to incorporate the contagion of narratives into our economic theory. You can think of narratives as stories that shape public beliefs, which in turn influence our decision making. Understanding how people arrived at certain decisions in the past can aid our understanding of the economy today and improve our forecasts of the future. Popular thinking heavily influences our answers to questions such as how much to invest, how much to spend or save, whether to go to college or take a certain job, and many more. Narrative economics is the study of the viral spread of popular narratives that affect economic behavior. I believe incorporating these ideas into our research must be done both to improve our ability to anticipate and prepare for economic events and help us structure economic institutions and policy. Until we better incorporate it into our methods of analysis and forecasting, we remain blind to a very real, very palpable, very important mechanism for economic change. Even in the dawning age of the Internet and artificial intelligence, so long as people remain ultimately in control, human narratives will matter. Maybe they will especially matter as the new technology exploits human weaknesses and creates new venues for narrative contagion. If we do not understand the epidemics of popular narratives, we cannot fully understand changes in the economy and in economic behavior. The course is broken into 4 modules: Part I introduces basic concepts and demonstrates how popular stories change over time to affect economic outcomes, including recessions, depressions and inequality as well as effective inspiration and growth.. These stories can be observed from diverse sources such as politics, the media, or even popular songs. Part II seeks to answer why some stories go viral, while others are quickly forgotten, by defining our narrative theory more firmly. This module enumerates and explores a list of seven propositions to help discipline any analysis of economic narratives. Part III examines nine perennial narratives that have proved their ability to influence important economic decisions. They include narratives regarding artificial intelligence, stock market bubbles, and job insecurity. Part IV looks to the future and highlights the opportunities for consilience in Narrative Economics. We share some thoughts about where narratives are taking us at this point in history and what kind of future research could improve our understanding of them. This course offers only the beginnings of a new idea and a few suggestions for how it could be used by economists and financial professionals. The tone is not prescriptive or authoritative, as perhaps my Coursera course, Financial Markets, is in places. It represents the beginning of the journey (epidemic). This course is my way of floating the “germ” of this idea out into the broader community of not only professionals but of anyone who is interested in discovering how and why things become “important” to us as a society. I hope some of you will become infected by this idea, mutate it, spread it, and advance it. The beginning of the journey is the easy part. The challenge will come in taking these concepts to the next level. We have the tools to incorporate narratives into our research and the moral obligation to act; only the work remains. - Robert J. Shiller...

Top reviews

AV

Jun 7, 2023

A very insightful and approachable course about the effects of human biases over the economic landscape and how social trends tend to leave a permanent mark on history and exact sciences like finance.

LA

Mar 11, 2024

I really enjoyed this course, it opened my eyes so much and I might keep going even though I only took this course out of fun, I was very interested in this topic. lucky me it Was interesting! Thanks

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101 - 125 of 197 Reviews for Narrative Economics

By Alberto N

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May 23, 2023

Excelent and clear, plain of meaningful, enjoyable and recommendable.

By Andrea B

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Apr 21, 2023

Really interesting ! I learned alot and it was fun to do.

Many thanks

By Shashi C

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Apr 27, 2023

Always interesting to listen Professor Shiller. Huge appreciation.

By Mariana

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Jun 27, 2024

Very valuable and insightful content. Would highly reccommend

By Luca D B

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Apr 29, 2023

Really enjoyed the topic and how professor Shiller present it

By Nour S

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Mar 5, 2025

Such an engaging course with very interesting examples used.

By Gabrielle A

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Jul 21, 2023

Unique perspective on economics from an excellent professor.

By peter j

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Feb 2, 2024

really interesting. one of the cutting edges of economics.

By SantiagoTrujillo

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Sep 29, 2023

Very interesting and important subjects, thanks a lot !!!

By Olalekan O

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Apr 30, 2023

Today's ideas and narratives may take off in the future.

By Aarya N

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Nov 4, 2023

Brilliant Work And Excellent Insight From The Professer

By Rami

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Jun 28, 2023

This course is essential for a broader economic vision.

By Tjandra I

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Apr 30, 2023

The explanation is very clear. Simple but very usefull.

By Araylım S

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Jan 7, 2025

can I receive a certificate from this course free pls?

By Olympia R R

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Oct 9, 2023

It is a geat course. I learned interesting information

By Rory B

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Aug 29, 2024

I'm still reading the books recommended in the course

By Gustavo P

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May 5, 2023

Great course, complete content and with many details.

By Mark J B d L

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Jul 15, 2023

Lots of new, great, exciting ideas from this course!

By Jovan

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Jun 19, 2024

wonderful course with fresh & hard to find insights

By Dana D

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Apr 23, 2023

Interesting class with great references.

Thank you!

By Nishant T

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Jun 18, 2023

Awesome learning experience...best teacher by far

By Fok S

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Sep 29, 2023

It's a cool course which improves my knowledge.

By Surender K

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Apr 18, 2023

Very well Explained and Connected all the time.

By Thomas F

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Oct 25, 2023

Very interesting course, professor is awesome!

By Manan S

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Feb 22, 2025

a great learning experience for the beginners