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Whether a black swan or a scapegoat, Covid-19 is an extraordinary event. Declared by the WHO as a pandemic, Covid-19 has given birth to the concept of the economic “sudden stop.” We need extraordinary measures to contain it. 2020 Level: beginner Triggering a Global Financial Crisis: Covid-19 as the Last Straw T Sabri Öncu Counterpunch, Prime This course introduces students to the relevance of gender relations in economics as a discipline and in economic processes and outcomes. The course covers three main components of gender in economics and the economy: (1) the gendered nature of the construction and reproduction of economic theory and thought; (2) the relevance and role of gender in economic decision-making; and (3) differences in economic outcomes based on gender. We will touch on the relevance of gender and gender relations in at least each of the following topics: economic theory; the history of economic thought; human capital accumulation; labor market discrimination; macroeconomic policy, including gender budgeting; household economics; basic econometrics; economic history; and economic crises. 2019 Level: beginner Feminist Economics Alyssa Schneebaum University of Vienna 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. 2021 Level: beginner A Pluralist Perspective on Ecosystem Service Valuation Introduction Maya Exploring Economics Markets are the focus in modern economics: when they work, when they don’t and what we can or can’t do about it. There are many ways to study markets and how we do so will inevitably affect our conclusions about them, including policy recommendations which can influence governments and other major organisations. Pluralism can be a vital corrective to enacting real policies based on only one perspective and a plethora of approaches provide alternatives to the canonical view. Although they have differing implications, these approaches share the idea that we should take a historical approach, analysing markets on a case-by-case basis; and they share a faith in the power of both individuals and collectives to overcome the problems encountered when organising economic activity. 2020 Level: beginner Markets, How Do They Work? Cahal Moran Rethinking Economics “Economics is the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses1.” This is how Lionel Robbins came to define economics in the early 1930s and there is a good chance that many of you heard a variant of this definition in your first Economics 101 lecture. 2021 Level: beginner What is “Economics”? Anas Abu Exploring Economics As seen with the United Nations significant promotion of the Sustainable Development Goals (SDGs) in the past few years, the issue of global development is of growing concern to many international organizations. As humanity continues to become more interconnected through globalization, the inequalities and injustices experienced by inhabitants of impacted countries becomes increasingly clear. While this issue can be observed in the papers of different types (e.g., different schools of thought) of economists throughout the world, the work of behavioral and complexity economists offer a unique, collaborative perspective on how to frame decisions for individuals in a way that can positively reverberate throughout society and throughout time. 2018 Level: beginner Behavioural vs Complexity Economics: Approaches to Development Erika Sloan Pluralist Economics Fellowship How do people make decisions? There is a class of models in psychology which seek to answer this question but have received scant attention in economics despite some clear empirical successes. In a previous post I discussed one of these, Decision by Sampling, and this post will look at another: the so-called Fast and Frugal heuristics pioneered by the German psychologist Gerd Gigerenzer. Here the individual seeks out sufficient information to make a reasonable decision. They are ‘fast’ because they do not require massive computational effort to make a decision so can be done in seconds, and they are ‘frugal’ because they use as little information as possible to make the decision effectively. 2020 Level: beginner Bounded Rationality: the Case of ‘Fast and Frugal’ Heuristics Cahal Moran Rethinking Economics How countries achieve long-term GDP growth is up there with the most important topics in economics. As Nobel Laureate Robert Lucas put it “the consequences for human welfare involved in questions like these are simply staggering: once one starts to think about them, it is hard to think about anything else.” Ricardo Hausmann et al take a refreshing approach to this question in their Atlas of Economic Complexity. They argue a country’s growth depends on the complexity of its economy: it must have a diverse economy which produces a wide variety of products, including ones that cannot be produced much elsewhere. The Atlas goes into detail on exactly what complexity means, how it fits the data, and what this implies for development. Below I will offer a summary of their arguments, including some cool data visualisations. 2020 Level: beginner GDP Growth: It’s Complicated Cahal Moran Rethinking Economics Feminist economics is a key component of the movement for pluralism in economics and one that has, to some extent, been acknowledged by the mainstream of the profession. It seeks to highlight issues which affect women because (it claims) they have not traditionally been recognised in a field dominated by men. On top of this, it seeks to carve out a space for women in the discipline, both for intrinsic reasons of fairness and diversity and because it means that women’s issues are more likely to be highlighted going forward. 2020 Level: beginner Why Feminist Economics is Necessary Cahal Moran Rethinking Economics In this video University of Warwick Economist Robert Akerlof provides an introduction to a new type of behavioral economics He explains how this type is being driven by a desire to understand how people are shaped by social interactions and what the economic consequences of this are He begins the … 2019 Level: beginner Behavioral Economics: The Next Generation Robert Akerlof New Economic Thinking This course introduces students to the relevance of gender relations in economics as a discipline and in economic processes and outcomes. The course covers three main components of gender in economics and the economy: (1) the gendered nature of the construction and reproduction of economic theory and thought; (2) the relevance and role of gender in economic decision-making; and (3) differences in economic outcomes based on gender. We wil touch on the relevance of gender and gender relations in at least each of the following topics: economic theory; the history of economic thought; human capital accumulation; labor market discrimination; macroeconomic policy, including gender budgeting; household economics; basic econometrics; and economic crises. 2019 Level: beginner Gender Relations and Economics Alyssa Schneebaum Vienna University of Economics and Business David Harvey is a Distinguished Professor of Anthropology Geography at the Graduate Center of the City University of New York CUNY the Director of Research at the Center for Place Culture and Politics and the author of numerous books He has been teaching Karl Marx s Capital for nearly 50 … Level: advanced Reading Marx’s Capital David Harvey City University of New York The lectures were given by Steve Keen at the Exploring Economics Summer Academy 2017 in the workshop on Post Keynesian Economics The first lectures start with the role of money in a monetary economy and explain the macroeconomic significance of admitting the reality that banks create money The lectures continue … 2017 Level: expert Exploring Economics 2017 Lectures Steve Keen ProfSteveKeen This article makes a necessary connection between economics as an academic discipline and recent events surrounding sexual harassment in the workplace. To get justice, targets must show measurable harm: economists can help. 2018 Level: beginner $MeToo: The Economic Cost of Sexual Harassment Lynn Parramore Institute for New Economic Thinking Economics has long been the domain of the ivory tower, where specialized language and opaque theorems make it inaccessible to most people. That’s a problem. 2019 Level: beginner Economics for People Ha-Joon Chang Institute for New Economic Thinking In this Ted Talk, Oxford economist Kate Raworth argues that instead of prioritizing the growth of nations, the world should rather prioritize meeting the needs of all people living on the planet within ecological limits. 2018 Level: beginner A healthy economy should be designed to thrive, not grow Kate Raworth TED Exploring Economics, an open-source e-learning platform, giving you the opportunity to discover & study a variety of economic theories, topics, and methods. 2017 Level: beginner Reclaiming the university: Transforming economics as a discipline Arne Heise Zentrum für Ökonomische und Soziologische Studien, Universität Hamburg Ride hailing home sharing meal delivery and other forms of digitally powered task sharing are creating jobs and growth in Europe and significant policy challenges What should be the responsibilities of these new platforms how should workers be classified and how can insurers and others provide services to this new … 2020 Level: advanced Europe’s Collaborative Economy William Echikson / Jesse Goldberg Centre for European Policy Studies - CEPS Modern authors have identified a variety of striking economic patterns, most importantly those involving the distribution of incomes and profit rates. In recent times, the econophysics literature has demonstrated that bottom incomes follow an exponential distribution, top incomes follow a Pareto, profit rates display a tent-shaped distribution. This paper is concerned with the theory underlying various explanations of these phenomena. Traditional econophysics relies on energy-conserving “particle collision” models in which simulation is often used to derive a stationary distribution. Those in the Jaynesian tradition rely on entropy maximization, subject to certain constraints, to infer the final distribution. This paper argues that economic phenomena should be derived as results of explicit economic processes. For instance, the entry and exit process motivated by supply decisions of firms underlies the drift-diffusion form of wage, interest and profit rates arbitrage. These processes give rise to stationary distributions that turn out to be also entropy maximizing. In arbitrage approach, entropy maximization is a result. In the Jaynesian approaches, entropy maximization is the means. 2019 Level: advanced The Econ in Econophysics Anwar Shaikh New School for Social Research, Department of Economics Exploring Economics, an open-access e-learning platform, giving you the opportunity to discover & study a variety of economic theories, topics, and methods. 2019 Level: advanced Marx's approach to economics: a claim for subjective praxis Clara Mattei New School for Social Research, Department of Economics The current Great Recession, the worst crisis that capitalism has faced since the Great Depression, has failed, at least so far, to generate a change in the teaching and practice of Macroeconomics. This seems bizarre as if nothing has happened and the economists are just going about doing business as usual. In light of this, the current paper attempts to address how Macroeconomics ought to be taught to students at the advanced intermediate level, which gives them an overall perspective on the subject. Level: beginner Plurality in Teaching Macroeconomics Rohit Azad New School for Social Research, Department of Economics This brief note explores the possibility of working towards an enlarged self-definition of economics through economists’ study and appreciation of economic sociology. Common ground between economic sociology and heterodox economics is explored, and some of Richard Sennett’s ideas are used as prompts to raise some pertinent and hopefully interesting questions about economics. In particular, the note revisits the question of whether there is a possibility of changing our understanding of what kind of social scientific work falls within the domain of economics proper once we start critically engaging with work conventionally considered to be outside of that domain. In part, the note is intended to offer undergraduate students in economics – and possibly even those further down the road in their education – food for thought about what constitutes economics. 2016 Level: advanced On the Possibility of an Enlarged Self-Definition of Economics Daniyal Khan New School for Social Research, Department of Economics Exploring Economics, an open-access e-learning platform, giving you the opportunity to discover & study a variety of economic theories, topics, and methods. 2017 Level: advanced Socialist alternatives to capitalism II: Vienna to Santa Fe Duncan Foley New School for Social Research, Department of Economics Recording of the Workshop “The collateral supply effect on central banking”, 04.02.2021, part of the "Next Generation Central Banking - Climate Change, Inequality, Financial Instability" conference by the Heinrich-Böll-Stiftung 2021 Level: advanced NextGen Central Banking: The collateral supply effect on central banking Finanzwende e.V. & Heinrich-Böll-Stiftung, Carolyn Sissoko, UWE Bristol; Steffen Murau, Boston University; Michael Peters, Finanzwende Transformative Responses, Heinrich-Böll-Foundation & Finanzwende This panel was part of the conference "Next Generation Gentral Banking - Climate Change, Inequality, Financial Instability" 03. - 05.02.2021. 2021 Level: advanced NextGen Central Banking: How the coronavirus almost brought down the global financial system Finanzwende e.V. & Heinrich-Böll-Stiftung, Adam Tooze, Annette Vissing-Jørgensen, Sven Giegold, Martin Hellwig Transformative Responses, Heinrich-Böll-Foundation & Finanzwende This panel was part of the conference "Next Generation Gentral Banking - Climate Change, Inequality, Financial Instability" 03. - 05.02.2021. 2021 Level: advanced NextGen Central Banking: Central Banking Beyond Inflation Finanzwende e.V. & Heinrich-Böll-Stiftung, Benjamin Braun, Michal Horváth Transformative Responses, Heinrich-Böll-Foundation & Finanzwende Exploring Economics, an open-access e-learning platform, giving you the opportunity to discover & study a variety of economic theories, topics, and methods. 2020 Level: advanced Impact of FDI on economic growth: The role of country income levels and institutional strength Tamar Baiashvili, Luca Gattini European Investment Bank South Africa’s taxi industry was established by black people in the 1930s and has faced numerous challenges, including those posed by decades of apartheid laws. Covid-19 has highlighted contemporary challenges facing the industry and has also raised questions about how it can keep ‘driving forward’. This podcast explores questions such as what changes need to be made, and who can be the ‘drivers’ of such change. 2021 Level: advanced Driving Forward Social and Solidarity Economy: The Case of South Africa's Taxi Industry Maria Fustic, Georgia Pagiavla, Paloma Chuquín Alarcón, Jing-Syuan Wong, Georgia Pagiavla, Paloma Chuquín Alarcón, Jing-Syuan Wong Exploring Economics As the global economic landscape evolves, demographics shift, inequality expands, climate change gets worse and technology continues to advance at breakneck speed, Gross Domestic Product (GDP) is struggling to stay relevant. 2021 Level: beginner Beyond GDP - Wellbeing Economy, Happiness Index and the postgrowth debate Anna Murphy , Dr. Fred K. Muhumuza Exploring Economics Completing the Economics of Discrimination module, the students should have acquired knowledge and understanding of the existing similarities and differences of the definition and analysis of discrimination across economic theory and cultural theory. 2021 Level: beginner Economics of discrimination Dr. Mary Wrenn und Dr. Hans Dietrich Summer Academy for Pluralist Economics After completing the workshop in Post Keynesian Economics participants should be able to describe the main differences and similarities between PKE and other schools of thought. 2021 Level: beginner Post Keynesian Economics Valeria Jimenez Summer Academy for Pluralist Economics The goal of this course is to explore these differences in economic outcomes observed among women and men, measured by such things as earnings, income, hours of work, poverty, and the allocation of resources within the household. It will evaluate women’s perspectives and experiences in the United States and around the world, emphasizing feminist economics. Level: beginner Economics of Gender Dr. Erin George Hood College

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