Tinbergen Institute Online Summer School: Behavioral Macro and Complexity

This Summer School course, offered by the Tinbergen Institute is a one-week course that will take place online from August 24-28, 2020.

Due to the COVID-19 outbreak this summer course has moved online with reduced fees. The course has been confirmed and will take place.

This course provides a state of the art overview of complex economic systems with boundedly rational heterogeneous agents. The leading paradigm in macroeconomics assumes that economic agents (households, firms, investors) are perfectly rational in making their decisions. Experimental and empirical evidence indicate that this assumption is too demanding. A central question in the course will be: which emerging macro behavior arises through the interactions of micro decisions of boundedly rational heterogeneous agents and how can policy affect micro and macro behavior.


  • Animal spirits and boom and bust cycles
  • Bounded rationality and adaptive learning
  • Complex dynamics, tipping points, chaos and bifurcations
  • Heterogeneous expectations in asset pricing and macroeconomic models
  • Macro laboratory experiments
  • Monetary policy and asset prices under bounded rationality

For the admission requirements, the application form or further information, please visit the Tinbergen Institute website.