Welcome to Engineering Markets, a collaboration between McCormick Electrical Engineering and Computer Science and Kellogg Managerial Economics and Decision Sciences.
News & Events
Mondays, noon-1 p.m., beginning September 27
June 2-3, 2011. Kellogg and EECS co-host this conference featuring experts in wireless networks, economics, and spectrum policy.
Noon-1:30 p.m. (days vary)
Wednesdays, 3:30-5 p.m., beginning September 22
Thursdays, 12:10-1:10 p.m., beginning September 16
The Internet has enabled the creation of large-scale markets for the exchange of goods and services. These new markets - including everything from eBay to financial prediction markets to social networks like Facebook and Match.com - are fast, automated and based on large amounts of data. In the future, we can expect "smart markets" for energy helping to greatly reduce power consumption, and advancements in wireless technology that will increase efficiencies in communication.
These developments present new challenges, including computational and informational limitations, difficulties in bidding, pricing and allocation, and potential market manipulation. Engineering Markets explores how we can combine techniques from computer science, information theory and economics to understand these systems and design them to better help society use them.
Northwestern University has significant strengths in the areas of Complex Systems, Social Networks and both the Micro-Economics and Computer Science aspects of markets. The EECS and MEDS departments already have strong research connections and shared seminars, and encourage graduate students to take courses in both areas. University connections with Google, Yahoo! and Microsoft offer great opportunity for internships, research and support.