Diaz, Jason, PhD

Leonard Boyle, Emma, PhD

Pellillo, Adam, PhD

English

La Salle University Digital Commons

La Salle University La Salle University Digital Commons Explorer Café Explorer Connection 10-17-2019 What's All the Fuss About? Day 2: The Nobel Prize in Economics, Medicine, and Peace Emma Leonard Boyle PhD Jason Diaz PhD Adam Pellillo PhD Follow this and additional works at: https://digitalcommons.lasalle.edu/explorercafe The 2019 Nobel Prizes in Economics, Medicine and PeaceDr. Adam Pellillo, Dr. Jason Diaz, and Dr. Emma Leonard BoyleA New Approach to Development (Economics)• A greater reliance on (richly detailed) micro-level data (instead of aggregated, country-level data)• The use of field experiments to discover what works (and what doesn’t) in development• A more nuanced understanding of the causes (and consequences) of poverty• The Economist on Banerjee and Duflo: “They have spent countless hours observing and learning from the daily struggles of the world’s poor.” Source: Adapted from Banerjee and Duflo (2011), Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty. Public Affairs.  By focusing more on the effects of local interventions, do we miss out on the macro-level (e.g., political, institutional, macroeconomic, macro-policy) determinants of poverty and prosperity?On the New Development EconomicsLearning about Development• Angus Deaton (2010, p. 426): “…under ideal circumstances, randomized evaluations of projects are useful for obtaining a convincing estimate of the average effect of a program or project. The price for this success is a focus that is too narrow and too local to tell us ‘what works’ in development, to design policy, or to advance scientific knowledge about development processes.” • “…the analysis of projects needs to be refocused toward the investigation of potentially generalizable mechanisms that explain why and in what contexts projects can be expected to work.”Reference: Deaton, Angus (2010). “Instruments, Randomization, and Learning about Development.” Journal of Economic Literature, 48: 424-455. Is the focus really “…too narrow and too local…” to design policy? Can successful micro-level interventions be scaled up to the regional (or national) level in a country (e.g., through changes in education policy, health programs, etc.)?  On External Validity and ScalabilityWhy do endurance runners sometimes train at high altitudes?Why do endurance runners sometimes train at high altitudes?• Animals need oxygen for metabolism• Red blood cells carry oxygen • In low oxygen environments, erythropoietin (EPO) is released• EPO stimulates more red blood cell growth • How do cells sense low oxygen?EPO GeneNobel Peace Prize: Prime Minister AbiyAhmed Ali• For bringing an end to the conflict with Eritrea• For lifting the state of emergency in Ethiopia, granting amnesty to 1000s of political prisoners, discontinuing media censorship, legalizing outlawed opposition groups, dismissing leaders suspected of corruption, increasing the role of women in political life• For contributing to the normalization of diplomatic relations between Ethiopia and Djibouti• For playing a key mediation role in the conflicts between Somalia and Kenya, and the Sudanese Govt and opposition groupsEthiopia-Eritrea ConflictDomestic Reform

What\u27s All the Fuss About? Day 2: The Nobel Prize in Economics, Medicine, and Peace

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What\u27s All the Fuss About? Day 2: The Nobel Prize in Economics, Medicine, and Peace

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