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77 results

1990
Level: advanced
"The New Classical Macroeconomics "gives an accessible, rigorous, critical account of the central doctrines of the new classical economics, without unnecessarily difficult mathematics. It focuses on four central issues: the foundation of monetary theory; monetary and fiscal policy; labour supply and business cycles; and the attack on econometric models.
Level: beginner
Galbraith gives an overview of economic history from the 18th century until the end of the 19th century covering issues such as the industrial revolution the enclosure of the Scottish highlands the Irish famine and the colonization of North America Additionally the ideas of economists such as Smith Ricardo Malthus …
2020
Level: beginner
In this lecture, Branko Milanovic gives an overview of the concept of inequality as conceptualized within the classical school of thought.
2020
Level: beginner
This course introduces students to political economy and the history of economic thought. We will cover the core ideas in various schools of economic thought, positioning them in the historical and institutional context in which they were developed. In particular, we will cover some economic ideas from the ancient world and the middle ages; the enlightenment; the emergence of and main ideas in classical political economy (Adam Smith, David Ricardo, Thomas Malthus, and others); Marx, Mill, and Keynes; European versus American economic thought through history; the rise of mathematical economics; economic theories around state-managed economies versus socialism; Austrian economics; behavioral economics; and the future of economics.
2021
Level: beginner
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?
2005
Level: beginner
The Wealth of Ideas traces the history of economic thought, from its prehistory (the Bible, Classical antiquity) to the present day.
2005
Level: advanced
The Anthropology of Development and Globalization is a collection of readings that provides an unprecedented overview of this field that ranges from the field?s classical origins to today?s debates about the ?magic? of the free market.
2021
Level: beginner
This lecture acts as an introduction to the Macroeconomics course (ECON 720) at John Jay College. Throughout the lecture, the classical and Keynesian conceptions of macroeconomic relationships are contrasted.
2011
Level: beginner
In the second video of the series Investigating International Finance, an alternative view on capital controls is given contrasting with the paradigm of classical trade theory which suggests that the removal of trade and capital barriers is associated with higher market efficiency. After explaining the conceptual mechanisms underlying capital controls, examples are introduced where countries actually apply capital controls and how these controls have been associated with a lesser exposure to international financial crises spillovers.
2012
Level: beginner
In the second video of the series Investigating International Finance, an alternative view on capital controls is given contrasting with the paradigm of classical trade theory suggesting that the removal of trade and capital barriers is associated with higher market efficiency. After explaining the conceptual mechanisms underlying capital controls, examples are introduced where countries actually apply capital controls and how these controls have been associated with a lesser exposure to international financial crises spillovers.
2013
Level: beginner
Stiglitz answers the question why globalization and world trade has not delivered on its promise of increased well being as much as classical economists thought, by pointing to the power asymmetries: firstly, between industrialized nations and developing nations and secondly, between special corporate interest and social interests. In his analysis, developed countries and MNCs were able to extract the benefits, while shifting the costs (i.e. pollution) to states and communities with lesser power. Amongst many other historical examples the pharmaceutical and the mining industry are discussed to some length.
2017
Level: beginner
This paper surveys the development of the concept of socialism from the French Revolution to the socialist calculation debate. Karl Marx’s politics of revolutionary socialism led by an empowered proletariat nurtured by capital accumulation envisions socialism as a “top-down” system resting on political institutions, despite Marx’s keen appreciation of the long-period analysis of the organization of social production in the classical political economists. Collectivist thinking in the work of Enrico Barone and Wilfredo Pareto paved the way for the discussion of socialism purely in terms of the allocation of resources. The Soviet experiment abandoned the mixed economy model of the New Economic Policy for a political-bureaucratic administration of production only loosely connected to theoretical concepts of socialism. The socialist calculation debate reductively recast the problem of socialism as a problem of allocation of resources, leading to general equilibrium theory. Friedrich Hayek responded to the socialist calculation debate by shifting the ground of discussion from class relations to information revelation
2022
Level: beginner
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...
2002
Level: advanced
The age of the contemplative economist-scholar—at home equally in classical languages, economic history, the history of ideas, and mathematical theory—has passed. The history of economics as a subdiscipline has lost touch with the mainstream study of economics. InThe Future of the History of Economics, internationally known scholars from ten countries provide a comparative assessment of the subdiscipline.
2018
Level: beginner
This course is an introduction to macroeconomics with a specific focus on the euro area. The theoretical part provides a critical presentation of the two key macroeconomic models: the (neo)classical approach and the Keynesian approach. This allows a comparative analysis of important macroeconomic topics: - unemployment - inflation - government debt and Modern Monetary Theory - banks and financial crises. The policy-oriented part discusses the monetary policy of the ECB and the specific challenges for fiscal policy in the euro area. The course also presents other euro area specific topics: Optimum currency area, euro crises, Next Generation EU and Green New Deal.
2020
Level: beginner
In the course Sociology and Socialism, students engage with classical theories of socialism as well as their applications in a variety of historical and international contexts. Staunchly interdisciplinary, the course utilizes expertise in philosophy, history, economics, sociology, anthropology and political theory.
2020
Level: advanced
This book discloses the economic foundations of European fiscal and monetary policies by introducing readers to an array of alternative approaches in economics. It presents various heterodox theories put forward by classical economists, Marx, Sraffa and Keynes, as a coherent challenge to neoclassical theory.
2016
Level: beginner
This is an introductory course into economics that navigates the intellectual history of political economy in a self-contained and non-technical manner. The course centres on the classical concept of political economy by emphasizing the moral and ethical problems that markets solve or may not solve.
2021
Level: advanced
This is a new online course at bachelor level. It presents an introduction into macroeconomics with a specific focus on the euro area. The theoretical part provides a critical presentation of the two key macroeconomic models: the (neo)classical approach and the Keynesian approach. This allows a comparative analysis of important macroeconomic topics: unemployment inflation government debt and Modern Monetary Theory banks and financial crises. The policy-oriented part discusses the monetary policy of the ECB and the specific challenges for fiscal policy in the euro area. The course also presents other euro area specific topics: Optimum currency area, euro crises, Next Generation EU and Green New Deal.
2019
Level: beginner
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.
 
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.
2017
Level: beginner
This paper starts with an evaluation of three common arguments against pluralism in economics: (1) the claim that economics is already pluralist, (2) the argument that if there was the need for greater plurality, it would emerge on its own, and (3) the assertion that pluralism means ‘anything goes’ and is thus unscientific. Pluralist responses to all three arguments are summarized. The third argument is identified to relate to a greater challenge for pluralism: an epistemological trade-off between diversity and consensus that suggests moving from a discussion about ‘pros’ and ‘cons’ towards a discussion about the adequate degree of plurality. We instantiate the trade-off by showing how it originates from two main challenges: the need to derive adequate quality criteria for a pluralist economics, and the necessity to propose strategies that ensure the communication across different research programs. The paper concludes with some strategies to meet these challenges.
 
Marxian Political Economy focuses on the exploitation of labour by capital. The economy is not conceived as consisting of neutral transactions for exchange and cooperation, but instead as having developed historically out of asymmetric distributions of power, ideology and social conflicts.
2021
Level: advanced
This course will survey contemporary heterodox approaches to economic research, both from a microeconomic and a macroeconomic perspective. Topics will be treated from a general, critical, and mathematical standpoint.
2016
Level: beginner
In 18th century Europe figures such as Adam Smith, David Ricardo, Friedrich List and Jean Baptiste Colbert developed theories regarding international trade, which either embraced free trade seeing it as a positive sum game or recommended more cautious and strategic approaches to trade seeing it as a potential danger and a rivalry and often as a zero-sum game. What about today?
2020
Level: advanced
What influence do changes in tax policy or state decisions on expenditure have on economic growth? For decades, this question has been controversially debated.
2020
Level: beginner
A historical glimpse of how economists of the 19th century debated the usefulness of mathematics to economics
2019
Level: beginner
By conducting a discourse analysis (SKAD) in the field of academic economics textbooks, this paper aims at reconstructing frames and identity options offered to undergraduate students relating to the questions ‘Why study economics?’ and ‘Who do I become by studying economics?’. The analysis showed three major frames and respective identity offerings, all of which are contextualized theoretically, with prominent reference to the Foucauldian reflection of the science of Political Economy. Surprisingly, none of them encourages the student to think critically, as could have been expected in a pedagogical context. Taken together, economics textbooks appear as a “total structure of actions brought to bear upon possible action” (Foucault), therefore, as a genuine example of Foucauldian power structures.
2019
Level: beginner
This course provides future change makers in public and private sectors with a comprehensive overview on the structures and actors that shape markets.
2022
Level: beginner
Health Economics traditionally involves two distinct strands. One focuses on the application of core  neoclassical economic theories of the firm, the consumer and the market to health-seeking behaviour  and other health issues. It suggests a role for government intervention only in the case of specific  market failures (for example externalities, asymmetric information, moral hazard, and public goods)  that distort market outcomes. The second strand is evaluation techniques, used to assess the cost effectiveness of competing health interventions.
 
Complexity economics focuses on interactions and interdependencies between individuals and structures in economic systems. Those are systems of organised complexity. High importance is given to the analysis of networks.
2023
Level: beginner
The Philosophy of Economics Foundational Text provides a systematic and well-structured overview over the field of philosophy of economics.

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