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Economic sociology is an entire subfield and one could write an series on it, so I’m going to stick to probably the most prominent economic sociologist and the founder of ‘new economic sociology’, Mark Granovetter.
Economic Sociology: the Contributions of Mark Granovetter
This paper presents an overview of different models which explain financial crises, with the aim of understanding economic developments during and possibly after the Great Recession. In the first part approaches based on efficient markets and rational expectations hypotheses are analyzed, which however do not give any explanation for the occurrence of financial crises and thus cannot suggest any remedies for the present situation. A broad range of theoretical approaches analyzing financial crises from a medium term perspective is then discussed. Within this group we focused on the insights of Marx, Schumpeter, Wicksell, Hayek, Fisher, Keynes, Minsky, and Kindleberger. Subsequently the contributions of the Regulation School, the approach of Social Structures of Accumulation and Post-Keynesian approach, which focus on long-term developments and regime shifts in capitalist development, are presented. International approaches to finance and financial crises are integrated into the analyses. We address the issue of relevance of all these theories for the present crisis and draw some policy implications. The paper has the aim to find out to which extent the different approaches are able to explain the Great Recession, what visions they develop about future development of capitalism and to which extent these different approaches can be synthesized.
Theories of finance and financial crisis: Lessons for the Great Recession
If there’s one method economists have neglected the most, it’s qualitative research. Whereas economists favour mathematical models and statistics, qualitative research seeks to understand the world through intensive investigation of particular circumstances, which usually entails interviewing people directly about their experiences. While this may sound simple to quantitative types the style, purpose, context, and interpretation of an interview can vary widely. Because of this variety, I have written a longer post than usual on this topic rather than doing it a disservice. Having said that, examples of qualitative research in economics are sadly scant enough that it doesn’t warrant multiple posts. In this post I will introduce qualitative research in general with nods to several applications including the study of firm behaviour, race, Austrian economics, and health economics. More than usual I will utilise block quotes, which I feel is in the spirit of the topic.
Qualitative Methods in Economics: "You Can Observe a Lot Just by Watching"
Oft werden Universitäten mit neutraler Wissenschaft verbunden und das von Dozierenden vermittelte Wissen als Abbildung der Realität wahrgenommen. Nur selten ist es Gegenstand kritischer Auseinandersetzungen. Wissenschaft findet jedoch in keinem neutralen Raum statt, sondern ist von Machtstrukturen und somit auch oft von diskriminierenden Denkweisen geprägt. Genau hier setzt unser Projekt an, mit dem wir einen Beitrag zur kritischen, interdisziplinären Auseinandersetzung mit Rassifizierung und Diskriminierung an der Universität Bayreuth und darüber hinaus leisten wollen. Unser Interesse am Thema Rassifizierung im Kontext universitärer Lehre und Forschung entstammt dabei der kritischen Auseinandersetzung mit den Lehrinhalten der Vorlesung „Ökonomik der Entwicklungsländer“ von Prof. Dr. Martin Leschke sowie mit dem begleitenden Lehrbuch „Ökonomik der Entwicklung – Eine Einführung aus institutionenökonomischer Sicht“. Als uns Themen und Begriffe auffielen, die unserer Einschätzung nach in ihrer Verwendung nicht dem aktuellen Umgang mit postkolonialen Machtverhältnissen und Eurozentrismus entsprachen, kam uns die Idee, eine kritische Begleitschrift zu besagtem Lehrbuch zu verfassen.
Ökonomik der Entwicklung: Analyse und Kritik aus postkolonialer Perspektive
This is an introductory level core course in macroeconomics for those expecting to take further courses in economics. It provides a theoretical and applied approach of introductory macroeconomics, with an international perspective and applications to account for the growing importance of the global economy and the rising openness of economies.
Introduction to Macroeconomics
This paper is a product of an online workshop held in Nigeria on the topic Unemployment: Policy Review and Recommendations. It explores the various unemployment policies introduced by the Nigerian Government and analysis how effective they are and suggests some practicable solutions to solving unemployment problems in the country.
The workshop was organized by Rethinking Economics The Uploaders (RETU) as part of the project Solving the Major Economic Problem in Nigeria (SMEPN), an output of the Global Pluralist Economics Training (GPET).
More details here: https://www.retheuploaders.org/programs/SMEPN
Unemployment in Nigeria: Policy Review and Recommendations
The module is designed to first present some of the main schools of thought from a historical and methodological perspective. Each week we explore and critically assess the main tenants of each school of thought. In the second part of the module we link history of economic thought and methodology to a specific and contemporary economic question. The second part allows you to engage with current economic issues with an awareness of methodology and methodological differences and with some knowledge of the history of economics.
History of Economic Thought
In der Lehrveranstaltung „Plurale Feministischen Ökonomie“ erhalten die Studierenden einen Einblick in die unterschiedlichen Debatten innerhalb der Feministischen Ökonomie, die von der Subsistenztheorie bis hin zur Queer Economics reichen, und lernen die wissenschaftstheoretischen, normativen und methodischen Hintergründe kennen.
Plurale Feministische Ökonomie
Have you ever thought about the role of civil society and the evolution of economy in one breath? This one hour long interview of Daron Acemoğlu (MIT) and Martin Wolf (Financial Times) by Rethinking Economy NL gives you much inspiration for it.
Socioeconomics of Disruptive Tech
This panel is about discussing the international development discipline from a critical perspective, exploring how the current practice entangles with Eurocentric/neo-colonial thoughts and how can we move beyond them.
Decolonise Development: Thoughts and Theories
The postcolonial critique of Economics is one of the sharpest and most comprehensive indictments of the discipline highlighting the discipline s limited treatment of power and culture and the incompatibility of the discipline s theoretical frameworks and predictions with the contexts of most formerly colonised territories This interview of Prof …
"Postcolonialism meets Economics" A Discussion with Prof. Eiman Zein-Elabdin
This course will fundamentally ask whether we can, or even should use the word ‘decolonising’ in our pursuit of a better economics?
Decolonising Economics?
This syllabus provides an overview of the contents of the course "Understanding Economic Models" at the University of Helsinki.
Understanding Economic Models
The article discusses whether the turning point in EU's Russia policy with sanctions aimed directly at Putin's war chest of foreign reserves will change the landscape of countries' foreign assets.
The Monetary Consequences of Vladimir Putin
To what extent does gender affect people's patterns of labor force participation, educational preparation for work, occupations, hours of work (paid and unpaid) and earnings?
Sex-Segregated Labor Markets
Wie könnte eine ganzheitliche Theorie des Kapitalismus aussehen? Diese Einführung in die Social Reproduction Theory (SRT) kann helfen, die Verwobenheit von Produktionsverhältnissen und Unterdrückungsmechanismen im Kapitalismus zu analysieren und zu verstehen.
Social Reproduction Theory: Ein neuer Ansatz der feministischen Ökonomik?
The podcast discusses how to deal with the rising inflation and presents a comparative perspective between the US and the EMU. Basically the speakers discuss whether we are heading to a stagflation in Europe similar to the 1970s and they compare the macroeconomic dynamics in the United States vs. the EMU.
Taming inflation? What are the implications of prolonged inflation?
In dem Text gibt Maria Kader einen Überblick über die Krisenpolitik der EZB in den Krisen der vergangenen Jahre. Sie stellt die ergriffenen Maßnahmen, ihre Wirkungen und ihre Schatteseiten vor.
Die Europäische Zentralbank in der Krisenpolitik – Maßnahmen, Wirkungen, Schattenseiten
This report by the 'Institute for Global Prosperity' explores the hypothesis that strengthening and extending universal services is an effective way of tackling poverty and improving wellbeing for all.
Universal Basic Services: Theory and Practice
The ecological crisis challenges the ways to understand the links between the environment, society, and the economy. To train students to be able to think critically about the issues associated with the crisis, it is important to take multiple perspectives into account. This lecture by Economy Studies can help students develop a familiarity with the different schools of thought and conceptions that exist within economics.
Perspectives on the Environment - Economy Studies
This course attempts to explain the role and the importance of the financial system in the global economy. Rather than separating off the financial world from the rest of the economy, financial equilibrium is studied as an extension of economic equilibrium. The course also gives a picture of the kind of thinking and analysis done by hedge funds.
Financial Theory
Behavioural economics deals with observing behaviour and economic decision making behaviour.
Behavioral Economics
Feminist economics focuses on the interdependencies of gender relations and the economy. Care work and the partly non-market mediated reproduction sphere are particularly emphasised by feminist economics.
Feminist Economics
Der Fokus der Verhaltensökonomik liegt auf dem beobachtbaren Verhalten von Menschen und deren Entscheidungen.
Verhaltensökonomik
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
Der Fokus der Marxistischen Politischen Ökonomik liegt auf der Ausbeutung von Arbeit durch Kapital. Die Ökonomie wird nicht als neutrale Austausch- und Kooperationsplattform gesehen, sondern als historische und politische Ausprägung, die von asymmetrischen Machtverhältnissen, Ideologie und sozialen Konflikten geprägt ist.
Marxistische Politische Ökonomik
With the collapse of the planned economies of Eastern Europe, the market is extending its reach and at the same time claiming its universal applicability. But this is occurring while paradoxically it is becoming more difficult to define "the market". The authors, all outstanding scholars in the booming field of socio-economics, explore how concrete markets are built up and stabilized.
Laws of the Markets
The productive work of widely distributed academic research has contributed substantially, over the postwar period, to important advances in our understanding. It has also offered a clearer recognition of many unresolved problems. Never theless, the progress achieved over the last decades, ex hibited by the systematic application of "theory" to actual issues and observable problems, could not overcome a per vasive sense of dissatisfaction.
Economics Social Institutions
Beyond Neoclassical Economics is a remarkable new introduction to the main heterodox schools of economic thought which examines their main concepts and their critiques of mainstream theory.
Beyond Neoclassical Economics
Der Fokus der Komplexitätsökonomik liegt auf den Interaktionen und Wechselwirkungen zwischen Individuen und Strukturen wirtschaftlicher Systeme. Diese werden als Systeme organisierter Komplexität aufgefasst. Ein besonderes Augenmerk liegt auf der Analyse von Netzwerken.
Komplexitätsökonomik
Der Fokus der Evolutorischen Ökonomik liegt auf der Erklärung wirtschaftlichen Wandels. Analysiert werden Wandlungsprozesse, wie Wirtschaftswachstum, Innovationen, Strukturwandel, technologischen Wandel, institutionellen Wandel oder allgemein die wirtschaftliche Entwicklung.
Evolutionsökonomik
Microeconomics in Context lays out the principles of microeconomics in a manner that is thorough, up to date, and relevant to students. Like its counterpart, Macroeconomics in Context, the book is uniquely attuned to economic realities. The "in Context" books offer affordability, accessible presentation, and engaging coverage of current policy issues from economic inequality and global climate change to taxes.
Microeconomics in Context
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