Economics and Real-World Impact with Dr. Sara Ellison and Prof. Esther Duflo

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In this episode we meet professor and Nobel laureate Esther Duflo and her colleague Dr. Sara Ellison for a discussion about economics: what it is, how it differs from sociology, how it incorporates classic intellectual tools like probability and statistics with newer technologies like machine learning, and how it can itself be a tool for improving the world by solving problems of inequity one problem at a time. As Duflo and Ellison explain, economics has shifted in recent decades from a primarily solo endeavor to an intensely collaborative one, in which any given paper is likely to have multiple co-authors but also to be based on the work of an even larger group of people—not only professional economists but also psychologists, teachers, NGO workers, and so on. (Fittingly, Duflo’s and Ellison’s teaching is collaborative as well; they work together as co-instructors on the course 14.310x Data Analysis for Social Scientists, available on both MITx Online and MIT OpenCourseWare.) Other topics covered in the episode include why online shopping isn’t as cheap as it seems like it should be and why you should disable some of your spreadsheet’s default settings. Relevant Resources:MIT OpenCourseWare The OCW Educator Portal Professor Duflo’s faculty page Dr. Ellison’s faculty page 14.310x Data Analysis for Social Scientists on MIT OpenCourseWare14.310x Data Analysis for Social Scientists on MITx OnlineMITx MicroMasters Program in Statistics and Data Science Music in this episode by Blue Dot Sessions Connect with UsIf you have a suggestion for a new episode or have used OCW to change your life or those of others, tell us your story. We’d love to hear from you! Call us @ 617-715-2517On our siteOn FacebookOn XOn InstagramOn LinkedInStay CurrentSubscribe to the free monthly "MIT OpenCourseWare Update" e-newsletter. Support OCWIf you like Chalk Radio and OpenCourseware, donate to help keep these programs going! CreditsSarah Hansen, host and producer Brett Paci, producer Dave Lishansky, producer Jackson Maher, producerShow notes by Peter Chipman