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In this lecture Mirowski claims that a good critique of and alternative to neoclassical economics should focus on microeconomics. In addition, he claims that mainstream economics is not about a specific "human nature", instead the understanding of markets (partially based on Hayek) is of special importance. As an alternative Mirowski proposes institutionalist economics that builds upon how markets work nowadays (e.g. links to computer science).
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.
Austrian economics focuses on the economic coordination of individuals in a market economy. Austrian economics emphasises individualism, subjectivism, laissez-faire politics, uncertainty and the role of the entrepreneur, amongst others.
Transition from central planning to a market economy, involving large-scale institutional change and reforms at all levels, is often described as the greatest social science experiment in modern times.
"Energy issues have always been important in international relations, but in recent years may have become even more important than in the past due to the widespread awareness of existing limits to energy sources and negative climate impacts. The course discusses global trends in energy consumption and production, various available scenarios for potential developments in the coming decades, the availability of oil reserves and the evolution of the oil industry. It then discusses natural gas and highlights the differences between oil and gas. It will also discuss renewable energy sources, nuclear energy and EU energy policy.
The course aims at providing students whose main interest is in international relations a background on energy resources, technology and economic realities to allow them to correctly interpret the political impact of current developments. It also aims at providing students, who already have a technical background in energy science or engineering, with the broad global view of energy issues that will allow them to better understand the social, economic and political impact of their technical knowledge."
Behavioural economics deals with observing behaviour and economic decision making behaviour.
This course focus on the behaviour of individuals from an pluralist economic and an interdisciplinary bevavioural science apprach.
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.
The Routledge Handbook of Heterodox Economics presents a comprehensive overview of the latest work on economic theory and policy from a 'pluralistic' heterodox perspective.
Contributions throughout the Handbook explore different theoretical perspectives including: Marxian-radical political economics; Post Keynesian-Sraffian economics; institutionalist-evolutionary economics; feminist economics; social 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.
Stratification economics is defined as a systemic and empirically grounded approach to addressing intergroup inequality. Stratification economics integrates economics, sociology and social psychology to distinctively analyze inequality across groups that are socially differentiated, be it by race, ethnicity, gender, caste, sexuality, religion or any other social differentiation.
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.
Economics is a broad and diverse discipline, but most economics textbooks only cover one way of thinking about the economy. This book provides an accessible introduction to nine different approaches to economics: from feminist to ecological and Marxist to behavioural.
Michael Kalecki famously remarked “I have found out what economics is; it is the science of confusing stocks with flows”. Stock-Flow Consistent (SFC) models were developed precisely to address this kind of confusion. The basic intuition of SFC models is that the economy is built up as a set of intersecting balance sheets, where transactions between entities are called flows and the value of the assets/liabilities they hold are called stocks. Wages are a flow; bank deposits are a stock, and confusing the two directly is a category error. In this edition of the pluralist showcase I will first describe the logic of SFC models – which is worth exploring in depth – before discussing empirical calibration and applications of the models. Warning that there is a little more maths in this post than usual (i.e. some), but you should be able to skip those parts and still easily get the picture.
This lively introduction to heterodox economics provides a balanced critique of the standard introductory macroeconomic curriculum. In clear and accessible prose, it explains many of the key principles that underlie a variety of alternative theoretical perspectives (including institutionalist economics, radical economics, Post Keynesian economics, feminist economics, ecological economics, Marxist economics, social economics, and socioeconomics).
Part I: Basic Economic Problems Is Economics a Science? Is It Useful? (Lawrence Boland, Ian Parker) Is There Such a Thing as a Free Market? (William Watson, Robert Prasch) Part II: Consumers and Firms Is Homo Economicus an Appropriate Representation of Real-World Consumers? (Joseph Persky, Morris Altman) Is the Consumer Sovereign?
Lean Logic is the late David Fleming’s masterpiece, the product of more than thirty years’ work and a testament to the creative brilliance of one of Britain’s most important intellectuals. A dictionary unlike any other, it leads readers through Fleming’s stimulating exploration of fields as diverse as culture, history, science, art, logic, ethics, myth, economics, and anthropology, being made up of four hundred and four engaging essay-entries covering topics such as Boredom, Community, Debt, Growth, Harmless Lunatics, Land, Lean Thinking, Nanotechnology, Play, Religion, Spirit, Trust, and Utopia. The threads running through every entry are Fleming’s deft and original analysis of how our present market-based economy is destroying the very foundations—ecological, economic, and cultural— on which it depends, and his core focus: a compelling, grounded vision for a cohesive society that might weather the consequences
This book is intended as a textbook for a course in behavioural economics for advanced undergraduate and graduate students who have already learned basic economics. The book will also be useful for introducing behavioural economics to researchers. Unlike some general audience books that discuss behavioural economics, this book does not take the position of negating traditional economics completely.
Irene van Staveren, professor of pluralist development economics, presents her pluralist teaching method for the introductory level. Based on her textbook “Economics After the Crisis: An Introduction to Economics from a Pluralist and Global Perspective” she suggests to focus on real-world problems and pari passu apply economic theories such as Social economics, Institutional economics, Post-Keynesian economics as well as Neoclassical economics without wasting time to single out the latter. Besides pointing out advantages of such a pluralist method Irene illustrates her approach based on interesting topics such as growth or feminist economics.
What is game theory? Game theory is a way of thinking about strategic interactions between people, which makes it a crucial component of economics, political science, international relations, psychology and a variety of other disciplines that deal with the complexities of human interaction in decision making.
This book represents a new foundation for the study of microeconomics, viewed from a broad perspective that takes into account new developments at the intersections with psychology, political science, the natural sciences and philosophy.
Economics After the Crisis is an introductory economics textbook, covering key topics in micro and macro economics. However, this book differs from other introductory economics textbooks in the perspective it takes, and it incorporates issues that are presently underserved by existing textbooks on the market. This book offers an introduction to economics that takes into account criticisms of the orthodox approach, and which acknowledges the role that this largely Western approach has played in the current global financial and economic crisis.
Happiness economics is a branch in behavioral economics, where it explores the economics factors and consequences of happy humans. What makes people happier, and what benefits do we get when people are happier? This dossier introduces you to the field of happiness economics, from a review of economic factors proposed to influence people’s happiness, to a discussion of the economic consequences of happiness, and concludes with economic policy implications of happiness economics.
This book sets out to encourage a debate about the role that economic theory and philosophy of economics can play. A good part of economics consists of theoretical developments which describe completely imaginary worlds and have no connections to actual market economies
Steve Keen analyses how mainstream economics fails when confronted with the covid-19-pandemic. Mainstream economics has propagated the dismantling of the state and the globalization of production - both of which make the crisis now so devastating. More fundamentally, mainstream economics deals with market systems, when what is needed to limit the virus’s spread is a command system.
This syllabus provides an overview of the content of the Philosophy and Economics course at the University of Waterloo.
The climate crisis is not primarily a problem of ‘believing science’ or individual ‘carbon footprints’ – it is a class problem rooted in who owns, controls and profits from material production. As such, it will take a class struggle to solve. In this ground breaking class analysis, Matthew T. Huber argues that the carbon-intensive capitalist class must be confronted for producing climate change.
In order to address discrimination, we must understand and address its fundamental basis of systemic oppression. Stratification economics goes beyond myopic mainstream conceptualisations of discrimination and recognises the historical, institutional, and structural factors that create and maintain socioeconomic disparities and hierarchies. To critically approach the economics of discrimination, this workshop will focus on stratification economics, a systematic and empirically grounded approach to addressing intergroup inequality (Darity, 2005). Focusing on racial discrimination, we will discuss the core elements of stratification economics, critically evaluate its relevance, and apply these understandings to construct case studies and solutions for change. In our discussions, we will consider an array of topics, including intersecting oppressions, reparative justice, and the role of knowledge production in overcoming injustice and creating a better world.
The book is a collection of 51 texts by different scholars and activists, who each adds a dimension/perspective to the topics of degrowth and societal transformation. A societal transformation towards a degrowth society is dependent on a lot of ideas coming together and creating change from various starting points within a society. Therefore, the authors are quite diverse and their contributions vary from being philosophical, natural science based, economic, sociological and so forth. Some are specfiically focused on a concept and others are a more broad critique of e.g., capitalism or growth.
Prof. Yanis Varoufakis talks in this introductory lecture about the future of our economy and the current state of economics with special regard to pluralism in economics.
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.
Economics should schematically explain the key elements and main strands of this core part of social life: the actual workings of our economies. This book argues that orthodox, modern neoclassical economics does not fulfil this core task. Standard economics models do not address the real functioning of our market economies, but rather an imagined economy.
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