55048 The Artificial Intelligence Economy: Business, Governance, and Society in the Age of Algorithms

We are entering an age of transformational technologies driven by artificial intelligence (AI). Advances in computer science and robotics create machines that can drive, diagnose, build, and “think”. AI promises new conveniences, more efficient production, and material and cultural bounty. AI will also fundamentally change manufacturing processes and services delivery, potentially eliminating jobs and increasing inequality. Unless properly managed, the AI economy may create deep economic and political conflict between its beneficiaries and those left behind. Left unchecked, these divisions threaten crises to governance, global capitalism, and geopolitics.

This course surveys the AI economy and its potential implications for firms, governments, and society. We assess the emerging business tools and strategies relying on machine learning and algorithms. We review recent developments in the economics of AI, with particular focus on which jobs AI will likely replace and the reasons why. We explore differences in AI deployment across countries and regions, and their implications for international economic relations between the US, China, and the EU. The course concludes with an exploration of the seismic political shocks that may arise from AI-induced unemployment and widening inequality. We evaluate policy proposals to forestall these threats to democratic governance.

The class meets for eight sessions, which combine lecture, discussion, and student presentations. The class will be highly interactive and each student is expected to participate in each meeting. Successful contributions to the course require that you complete the readings prior to the session for which they are assigned.



Prof. Stephen Weymouth
Associate Professor
McDonough School of Business,
Georgetown University, Washington D.C.


Duration: 15 - 25 July 2019
Place: Faculty of Law, Peter Merian-Weg 8, S6

Monday 15.07.2019: 09.30-12.00
Tuesday 16.07.2019: 09.30-12.00
Wednesday 17.07.2019: 09.30-12.00
Thursday 18.07.2019: 09.30-12.00

Monday 22.07.2019: 09.30-12.00
Tuesday 23.07.2019: 09.30-12.00
Wednesday 24.07.2019: 09.30-12.00
Thursday 25.07.2019: 09.30-12.00


Assessment Details

The grades are computed as follows:

  • Contribution to the class (individual): 10%
  • Final Exam (individual): 40%
  • Presentations (group):30%
  • Short paper (group):20%

The final exam will take place on Monday, 29 July 2019, 12:15, WWZ Auditorium.

Recommended Prerequisites

Introduction to Economics (Einführung in die Volkswirtschaftslehre, 10130)
Globalization and European Integration (Globalisierung und europäische Integration, 34504)


Course Information

For further information please contact the Summer School office.