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Neoclassical economics focuses on the allocation of scarce resources. Economic analysis is mainly concerned with determining the efficient allocation of resources in order to increase welfare.
Neoclassical Economics
Exploring Economics, an open-source e-learning platform, giving you the opportunity to discover & study a variety of economic theories, topics, and methods.
A Time for Precaution
This course provides future change makers in public and private sectors with a comprehensive overview on the structures and actors that shape markets.
The Governance of Markets in Challenging Times: From Classic Authors to New Approaches
Obwohl viele technische Lösungen für gesellschaftliche Herausforderungen wie den Klimawandel auf der Hand liegen, sind wir als globale Gesellschaft häufig nicht in der Lage, diese umzusetzen. Warum führt die kollektive Erfahrung eines kollabierenden Systems nicht zur kollektiven Handlung? Ein Beitrag von Katrin Käufer und Claus Otto Scharmer.
Von der Ego- zur Eco-System-Ökonomie
The premise of this workshop is that we, as knowledge producers - especially within westernized universities (Grosfoguel, 2013), are significantly implicated in neoliberal imaginaries that are often in service of hierarchical, binary, competitive and linear narratives of growth as civilizational progress.
Decolonizing Economics
Post-Keynesians focus on the analysis of capitalist economies, perceived as highly productive, but unstable and conflictive systems. Economic activity is determined by effective demand, which is typically insufficient to generate full employment and full utilisation of capacity.
Post-Keynesian Economics
This introductory text explores the political economy of water by defining the subject and examining its key issues.
The political economy of water
The outbreak of COVID-19 has substantially accelerated the digitalization of the economy. Yet, this unprecedented growth of digital technology brought novel challenges to the labour market. Rise in income inequalities and precarious working conditions or polarization of jobs. In this essay, we try to assess what tools to use to counter these trends.
Post-pandemic future of work - How does digitization impact labour?
Die Covid-19-Pandemie hat gezeigt, dass manche wirtschaftliche Zonen wichtiger sind als andere, um Lebensgrundlagen zu sichern und ein gutes Leben zu ermöglichen. An dieser „Alltagsökonomie“ gilt es anzusetzen, um Wirtschaften zukunftsfähig zu machen. Ein Beitrag von Richard Bärnthaler, Andreas Novy, Leonhard Plank und Alexandra Strickner.
Die Alltagsökonomie für ein gutes Leben
For a long time, price controls were considered taboo, as neoliberal economic theory assumes that prices are supposedly formed freely by supply and demand. But especially in times of crisis, the state must intervene and cap prices to protect wage earners from excessive burdens. However, the how matters.
Price Controls Against Inflation
This article, looks at the complex interaction between an urban economy and the vegetation within that urban area. In summary, numerous studies have found a positive link between increased vegetation and social as well as personal health. It makes a case for increasing urban vegetation as a way to benefit local economies.
Urban Arbonomics | The Complex Nature of Urban Vegetation
Introduction Economics is by necessity a multi paradigmatic science Several theoretical structures exist side by side and each theory can never be more than a partial theory Rothschild 1999 Likening scientific work to the self coordinating invisible hand of the market Michael Polanyi cautioned strongly against centralized attempts to steer …
Making Many Maps: Why We Need an Interested Pluralism in Economics and How to Get There
In the history of the social sciences, few individuals have exerted as much influence as has Jeremy Bentham. His attempt to become “the Newton of morals” has left a marked impression upon the methodology and form of analysis that social sciences like economics and political science have chosen as modus operandi.
Bentham’s Two Sovereign Masters - Examining Bentham’s Influence on the Social Sciences
Die Klimapolitik der Bundesregierung reicht bisher nicht aus, um die katastrophalen Folgen der Klimakrise abzuwenden. Mit Blick auf die Bundestagswahl im September formulieren viele deutsche Parteien nun ehrgeizigere Ziele. Doch die Zeit drängt.
Die Bundestagswahl als Klimawahl?
The core idea of ecological economics is that human economic activity is bound by absolute limits. Interactions between the economy, society and the environment are analysed, while always keeping in mind the goal of a transition towards sustainability.
Ecological Economics
A review of:
[1] Intermediate Microeconomics, H.R. Varian
[2] Mikrooekonomie, R.S. Pindyck, D.L. Rubinfeld
[3] Grundzuege der mikrooekonomischen Theorie, J. Schumann, U. Meyer, W. Stroebele
The Dichotomy, Inconsistency, and Peculiar Outmodedness of the "Mainstream" Textbook
This course will fundamentally ask whether we can, or even should use the word ‘decolonising’ in our pursuit of a better economics?
Decolonising Economics?
In diesem Text aus der Reihe "Exploring Economics - Foundations" werden die Grundlagen der Internationalen Politischen Ökonomie als interdisziplinäre wissenschaftliche Strömung dargestellt.
Internationale Politische Ökonomie
The last 15 years have seen extensive research into ecosystem service valuation (ESV), spurred by the Millenium Ecosystem Assessment in 2005 (Baveye, Baveye & Gowdy, 2016). Ecosystem services are defined as “the benefits people obtain from ecosystems” (Millenium Ecosystem Assessment, p.V). For example, ecosystems provide the service of sequestering carbon which helps regulate the climate. Valuation means giving ecosystems or their services a monetary price, for example researchers have estimated that the carbon sequestration services of the Mediterranean Sea is between 100 and 1500 million euros per year. The idea of ESV was a response to the overuse of natural resources and degradation of ecosystems, allegedly due to their undervaluation and exclusion from the monetary economy. ESV can be used (1) for policy decision-making, for example allocating funding to a reforestation project (2) for setting payments to people who increase ecosystem services, for example a farmer increasing the organic carbon content of their soil, and (3) for determining fees for people who degrade ecosystem services, for example a company that causes deforestation.
A Pluralist Perspective on Ecosystem Service Valuation Introduction
Evolutionary economics focuses on economic change. Hence processes of change such as growth, innovation, structural and technological change, as well as economic development in general are analysed. Evolutionary economics often gives emphasis to populations and (sub-)systems.
Evolutionary Economics
Der Fokus der Österreichischen Schule liegt auf der wirtschaftlichen Koordination von Angebots- und Nachfrageplänen zwischen Individuen. Konstitutiv sind u.a. der Subjektivismus, das Nutzenprinzip, Laissez-faire-Politik, fundamentale Unsicherheit sowie der Fokus auf den/die Unternehmer*in.
Österreichische Schule
Unser Ziel ist es, drei Lehrbücher auf den in ihnen verwendeten Ordnungsbegriff zu untersuchen.
Das Ordnungsverständnis in wirtschaftspolitischen und theoriegeschichtlichen Lehrbüchern
In this essay the author elaborates on the EU's perspective on the fast growing sector of the platform economy.
Sharing is Caring? On the EU- Narrative on Platform Economy
After completing the module, participants should be able to have general overview on the theory of commons. They can differentiate between neoclassical, new institutional and social/critical commons theory and can use these theories to assess real life common-pool resource management and commoning pratices.
Future of Commons
The chapter by the Centre for Economy Studies introduces interdisciplinary economic subdisciplines and their importance for economics education.
Interdisciplinary Economics
Commons stand for a plurality of practices ‘beyond market and state’ as the famous Commons scholar – and first female noble prize winner of economics - Elinor Ostrom put it. Their practice and theory challenge classical economic theory and stand for a different mode of caring, producing and governing. Within this workshop we want to dive into theory, practice and utopia of Commons following four blocks...
The Future of Commons
What’s inflation? Why is it relevant? And is there an agreed theory about its roots and causes, or is it a contentious concept? That’s what this text is all about: We define what inflation actually means before we delve into the theoretical debate with an interdisciplinary and pluralist approach: What gives rise to it, what factors might influence it, and, consequently, what might be done about it?
Inflation in economic theory
This article explores if power dynamics in the household can be changed, and if so, how. In this context the focus is laid on government childcare policy and its various channels of possible influence.
How can childcare policy affect intra-household power dynamics?
In this essay, the principle of capital accumulation, as well as the idea of homo economicus as the basis of the growth model, are located and analyzed from a feminist perspective. The sufficiency approach is presented as an alternative to these two economic logics.
Enough! The Sufficiency Approach and the Limits of Economic Growth
This essay deals with the concepts of Sustainable Land Management (SLM) and Land Degradation Neutrality (LDN).
The importance of a Land Degradation Neutrality approach to achieving Sustainable Land Management
What are the implications of the politics of "behavioural change"? Alexander Feldmann took a closer look for you on nudging and framing and if this is a legitimate instrument being used by the state to make us behave better in terms of our carbon footprint.
Politics as supermarket? Or how current policy design changes the relationship between the state and its citizens
An essay of the writing workshop on contemporary issues in the field of Nigerian economics: In Nigeria, it appears that there is nothing in the constitution, which excludes the participation of women in politics. Yet, when it comes to actual practice, there is extensive discrimination. The under-representation of women in political participation gained root due to the patriarchal practice inherent in our society, much of which were obvious from pre-colonial era till date.
Women Participation – Women Contribution to Economics and Politics
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