Markets and Norms

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Project Details

Welcome to this course on Markets and Norms running since 2020.

This course is designed to introduce students to markets in society, and what roles norms and morals play in them. We will go through standard markets like buyer-seller double auction markets, stock markets, etc., but also look at new kinds of markets like ones governed by apps (Ridesharing tools like Uber, Dating sites like Tinder, etc.). 

Students will learn how these markets function, and we will explore ideas as to what is needed to make them better. We will analyze how markets are shaping society, and how norms and morals shape the design and outcomes of markets. The interplay of these two things is what makes markets so special in today's society.

Issues we will address include:

  • The role of money in markets -- why are certain things tradable/for sale, and others not (repugnant markets)?
  • The role of norms in markets -- how do certain (often implicit) rules of conduct determine outcomes in society?

Visit course homepage at 


Lecture   Lecture Reading

Introduction and course admin

First case study: Markets without money

College Admissions and the Stability of Marriage
by D. Gale and L. S. Shapley
 2   The role of money  
 3   The role of norms  
 4   The role of morals  
 5   Projects  
 6   Projects  
 7   Projects  
 8   Projects  
 9   Projects  
 10   Projects  
 11   Projects  
 12   Feedback session  

Download the documents related to this project here
Lecture materials