We live in a connected world of coupled dynamic systems. Epidemic dynamics, economic contagions, network transmission of poor information, human emotions and behaviours are producing concurrent and mutually-amplifying shocks to global systems. The standard tools of mainstream equilibrium economics are inadequate to explain, to forecast, or to control these complex systems. New modelling and analysis tools are essential to understand these coupled nonlinear systems and to inform policy.

To meet this need, NAEC has forged a coalition of Institutions committed to developing new science and injecting it into the networks and structures of policymaking. The Agent-Based Modelling Lab at New York University (NYU) and the NAEC Unit have set out a framework and conditions for co-operation and a research partnership on new approaches to economics and policy. Building on the expertise and capacity of the two institutions, the partnership aims to develop innovative approaches applying insights and methods from agent-based modelling, behavioural neuroscience, contagion dynamics, network science, econophysics, and mathematics to policy questions spanning public health, inequality, conflict and economics.

To launch this collaboration, OECD and NYU will organise a series inviting world experts on state-of-the-art policy applications emerging from new analytical tools and techniques to show how methodological innovations and interdisciplinary approaches could contribute to a better understanding of the complexity and interaction of our economic, financial, social and environmental systems. A key focus will be on lessons and practical implications for policy.