Go to Home Go to Module 10 Slides for this module (draft) + Slides below (before each video)
In the following videos Andrea Galeotti and Paolo Surico (both Professors of Economics at London Business School) analyse the largest crisis of our generation: Covid-19.
In fact, we need to understand what is going on and have a framework to try to read through it and learn about the possible trade-off that the policy that has been implemented leads to.
Why does South Korea have a lower pattern of coronavirus contagion than Italy? Does COVID-19 infect the young or the old more? Paolo Surico, Professor of Economics, examines what data patterns are emerging, the demographic composition of carriers versus critical patients, and compares health systems around the world. [Slides]
Andrea Galeotti highlights how medicine can deal with the incidence, distribution, and possible control of Covid-19. He explains the epidemiological model of contagion, shows where more data is needed, where the better trade-offs are in existing health policies and evaluates plans to create immunity. [Slides]
Paolo Surico identifies the potential economic cost of the coronavirus outbreak, the roles of uncertainty and panic, and offers understanding on the role of cash flow shortages in a health crisis. [Slides]
How and when should coronavirus testing be done? Paolo Surico and Andrea Galeotti explore technology tracing infections, examine the difference in individual and collective testing, and investigate the statistics behind different tests for Coronavirus, including polymerase chain reaction (PCR) testing and serological tests. [Slides]
There is also an intersting discussion on the importance of widespread and regular testing here for the individual and the society. They also produced a number of resources (seminars, discussion, etc.) and pieces of research available here.
Please also remeber the website Our World in Data as a unique resource to have data and graphs. Here their page on testing of covid-19.
Please answer the following questions based on lectures above.
Interview with Pol Campos Mercade, Postdoc at the Department of Economics, University of Copenhagen, and member of the Center for Economic Behavior and Inequality (CEBI). Here his papers.
Discussion: After mapping humans’ intricate social networks, Nicholas Christakis and colleague James Fowler began investigating how this information could better our lives. Now, he reveals his hot-off-the-press findings: These networks can be used to detect epidemics earlier than ever, from the spread of innovative ideas to risky behaviors to viruses. Watch the following video:
- Covid-19 is the largest crisis of our generation: we need to analyze data to study the patterns that are emerging, the demographic composition of carriers and critical patients, and compares health systems around the world
- We have to combine models of economics and epidemiology to design effective health policies and evaluates plans to create immunity.
- We need to incorporate the “human factor” in these models and understand the roles of uncertainty and panic in this crisis.
Suggested movie for tonight: Contagion (2011)
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