Bruno Miller Theodosio

Bruno Miller Theodosio

PhD candidate in Economics

University of Utah

Biography

Bruno Theodosio is a PhD candidate in Economics at The University of Utah. Bruno has research interests in Political Economy, Statistical Equilibrium models, Heterodox Economics and Macroeconomics. Bruno will be available for interviews for the 2023-2024 job market.

Interests

  • Political Economy
  • Statistical Equilibrium
  • Profitability
  • Division of labor
  • Heterodox Macroeconomics
  • Inequality
  • History of Economic Thought
  • Crisis theory

Education

  • PhD in Economics, 2024 (Expected)

    University of Utah

  • MS in Economics, 2019

    Federal University of Rio de Janeiro

  • BA in Economics, 2015

    University of São Paulo

Job Market Paper

Ellis Scharfenaker, Bruno Miller Theodosio, Duncan Foley
September 2023

A Statistical Equilibrium Approach to Adam Smith’s Labor Theory of Value

Adam Smith’s inquiry into the emergence and stability of the self-organization of the division of labor in commodity exchange is considered using statistical equilibrium methods from statistical physics. We develop a statistical equilibrium model of the distribution of independent producers and produced commodities in a hub-and-spoke framework that predicts the both the center of gravity of producers across lines of production as well as the endogenous fluctuations between lines of production that arise from the institutional constraints of ``perfect liberty" and free competition. The ergodic distribution of producers implies the convergence of market prices to Smith’s natural prices.
PDF Slides

Publications

September 2023 Revista de Economia da Universidade Federal do Paraná, (Vol. 44)

Accumulation, Profit Rate, And Financialization In Brazil, 2000-2016

This paper investigates the economic dynamics of Brazil in the 2000-2016 period, based on the profit rate and its determinants (technology, distribution,and demand), linking it with the financialization of the economy. Between 2003 and 2010, the Brazilian economy experienced economic growth with income distribution in favor of wages. The rate of profit fell from 2011 on, culminating in a crisis in 2014. The research finds the existence of cooperation between capitalists and workers under Lula’s government and competition under Dilma’s years. We calculate the profit rate on net worth, corroborating our findings of functionality between finance and production from 2003 to 2010 and the dysfunctionality of finance for accumulation starting in 2011, when profitability fell along with the increase in leverage
PDF DOI
January 2019 Revista da Sociedade Brasileira de Economia Política (Vol. 51)

Trabalho e dinheiro: a teoria monetária marxista e o dinheiro de crédito

O presente trabalho discute a teoria monetária de Marx frente aos desenvolvimentos do capitalismo do século XXI. Defendemos que o dinheiro é uma mercadoria mesmo no capitalismo moderno porque mercadoria é uma forma social, portanto, o dinheiro tem valor (mas não um preço). O dinheiro de crédito é equivalente geral porque funciona como um símbolo de valor ancorado em uma forma de capital fictício, o passivo do Banco Central, além de guardar uma relação com o trabalho social. Para mostrar a relação entre o dinheiro e o trabalho abstrato seguimos a formalização da expressão monetária do tempo de trabalho (MELT) em uma economia de dinheiro de crédito. Ao final discutimos algumas teorias de inflação com raiz na teoria monetária de Marx.
PDF

Working Papers

Bruno Miller Theodosio, Jan D. Weber
September 2023 Ifso

Back to the Classics: R-Evolution Towards Statistical Equilibria

Economic modeling struggles often with a lack of realism. The reason for that is that economic theory for the last 100 years has focused on simplifying assumptions which reduced important aspects of the economic reality. Concentrating on fix-point solutions and external statistical shocks prevented the profession from accurately describing the economy as a complex system with characteristics like feedback mechanism, evolution, and emergence. We propose a re-evaluation of major findings in the Classical economic literature. The classical literature described the economic system as inherently probabilistic. In this spirit, we discuss the importance of statistical equilibrium models as one way to model complex economic systems in a probabilistic way.
PDF

Teaching

Lead instructor from 2022 to 2023 and teaching assistant from 2019 to 2021.

Lead Instructor

Intermediate Macroeconomics

  • Bachelor and Master level
  • Online: Fall 2023

Marxian Economics

  • Bachelor and Master level
  • Online: Summer 2023

Probability and Statistical Inference for Economists

  • Bachelor level
  • In-person: Spring 2023

Intermediate Macroeconomics

  • Bachelor and Master level
  • Online: Fall 2022

Capitalism & Socialism

  • Bachelor and Master level
  • In-person: Spring 2022

Teaching Assistant

Econometrics for BEA

  • Bachelor level (Lead Instructor: Dr. Haimanti Bhattacharya)
  • Fall 2021

Intermediate Macroeconomics

  • Bachelor level (Lead Instructor: Dr. Korkut Erturk)
  • Fall 2021

Intermediate Macroeconomics

  • Bachelor level (Lead Instructor: Dr. Rudiger von Arnim)
  • Spring 2021

Intermediate Macroeconomics/Macroeconomics

  • Bachelor and Master level (Lead Instructor: Dr. Ivan Mendieta-Muñoz)
  • Spring 2021

Labor Economics

  • Bachelor level (Lead Instructor: Dr. Catherine Ruetschlin)
  • Fall 2020

Labor Economics

  • Bachelor level (Lead Instructor: Dr. Eunice Han)
  • Fall 2020

Principles of Microeconomics

  • Bachelor level (Lead Instructor: Dr. Catherine Ruetschlin)
  • Spring 2020

Principles of Microeconomics

  • Bachelor level (Lead Instructor: Dr. Catherine Ruetschlin)
  • Fall 2019

Teaching evaluation

Average instructor rating: 5.1/6 and Average course rating: 5/6

Prob&Stat Inference - Spring 2023

  • “Very willing to work with students and helped those who were struggling.”

  • “Very great on getting class to excel through the semester and finish core learning objectives.”

  • “Bruno is a great teacher. This is the second class I have taken with him. His lectures are through and he opens the room up to questions frequently before moving on to another example or topic. He is also fair and accommodating. We finished the material before the end of the semester and he let the students decide what we wanted needed to do during the remaining class to be prepared for the final exam and our final project. I got a lot of one on one help during one of those classes and that really helped me out.”

  • “Mr. Theodosio goes above and beyond to understand what his students want to get out of a class. He is willing to admit fault as a professor and work with students to make sure that everything can be understood clearly regarding content, lectures, tests, problem sets, etc. I am looking forward to taking classes from him in the future.”

Intermediate Macroeconomics Fall 2022

  • “Very good instructor”

  • “This class is required, so whether I recommend it or not is not relevant. However, I would recommend taking this course from this instructor.”

Marxian Economics - Summer 2023

  • “Bruno did a wonderful job explaining difficult concepts and a massive breadth of information in a very short amount of time, but kept things manageable in terms of work and reading load. He was able to achieve this in English despite it being a foreign language for him. He was kind and responsive as a professor, and shared a genuine interest in the subject matter—making the class all the more interesting for his students!”

  • “Bruno is a delight, and explains complicated topics very well.”

  • “I would definitely recommend professor Theodosio because it was very refreshing to see someone who is so passionate about the subject and teaching”

Capitalism & Socialism - Spring 2022

  • “Bruno is extremely knowledgeable about the subject and its material that you don’t usually get exposed to. It provides interesting concepts and covers so much information but it’s worth it.”

  • “He wants to help his students learn in a way that’s best for them. He lets the class decide democratically how things will be run and he is extremely knowledgeable on the subjects he teaches.”

  • “He was a very kind professor who truly cared about the topics discussed: he made this class very enjoyable. His feedback inspired me to work harder throughout the course. I could not have asked for a better professor.”

  • “You did great, I loved the course.”

  • “He did an excellent job! Some of the concepts were very abstract, but he helped explain them well.”

  • “Thanks for everything! This class was tons of fun!”

Teaching Sample

September 2023 IS-LM model

Teaching sample: Intermediate Macroeconomics

Video
September 2023 Discussion about commodity-form.

Teaching sample: Marxian Economics

Video
September 2023 Descriptive Statistics using R

Teaching sample: Probability and Statistical Inference

Video

References

Ellis Scharfenaker

Duncan Foley

  • Emeritus
  • Leo Model Professor of Economics
  • The New School for Social Research
  • Department of Economics
  • foleyd@newschool.edu

Fernando Rugitsky

  • Senior Lecturer
  • Co-Director of the Bristol Research in
  • Economics
  • University of the West of England Bristol
  • Department of Economics
  • fernando.rugitsky@uwe.ac.uk

Job Market Documents

Sep 12, 2023

Statement of Diversity, Equity and Inclusive Excellence

Sep 12, 2023

Statement of Research

Sep 12, 2023

Teaching Statement

Contact