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.
The Inflation Surge of 2021-22: Scarcity of Goods and Commodities, Strong Labor Markets and Anchored Infl ation Expectations
Why did inflation lift of in 2022? Are there differences between the US and the Eurozone and if so, what are they?
Aim of this intensive workshop is 1.) to introduce the participants to the macroeconomic workings of the climate crisis as the background of sustainable finance; 2.) to introduce financial assets with ESG (Environmental, Social and Governance) criteria attached to them and their markets and important institutional players; 3.) to provide a critical perspective on the current setup of sustainable finance; 4.) and to work on in-depth case studies illustrating the workings on ESG-finance markets, its emitters and traders as well as their macroeconomic implications.
This syllabus provides an overview of the content of the Philosophy of Economics course at the University of Wisconsin-Madison.
A comprehensive account of how government deficits and debt drive inflation
In this essay the author elaborates on the EU's perspective on the fast growing sector of the platform economy.
The global financial crisis (GFC) led to increasing distrust in economic research and the economics profession, in the process of which the current state of economics and economic education in particular were heavily criticized. Against this background we conducted a study with undergraduate students of economics in order to capture their view of economic education.
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 …
This course focus on the behaviour of individuals from an pluralist economic and an interdisciplinary bevavioural science apprach.
Aim of this intensive workshop is to understand macroeconomic workings of climate change as as the background of sustainable finance; to analyse financial assets with ESG (Environmental, Social and Governance) criteria attached to them and their markets and important institutional players; to develop a critical perspective on the current setup of sustainable finance; and to synthesise this knowledge by applying it on in-depth case studies.
The first day of the workshop is intended to initiate students to the foundational concepts of ecological economics. Ecological economics is an ecological critique of economics, applying the energetics of life to the study of the economy. It also investigates the social distribution of environmental costs and benefits. It does so by deconstructing concepts that are taken for granted like “nature” or “the economy”, excavating their ideological origins.
Rethinking Regulation of International Finance encapsulates the most important aspects of the development and operation of the international financial system. This book questions the fundamental basis of the existing international financial architecture (soft law) and explores the need for a compliance-based model based on legitimacy of regulations and accountability of the regulatory bodies in international financial stability.
"Thought provoking and fresh - this book challenges how we think about economics.”
Gillian Tett, Financial Times
For further information about recent publicity events and media coverage for Rethinking Capitalism please visit http://marianamazzucato.com/rethinking-capitalism/
Western capitalism is in crisis.
Modern Monetary Theory and Practice: An Introductory Text is an introductory textbook for university-level macroeconomics students. It is based on the principles of Modern Monetary Theory (MMT).
Noneconomists often think that economists' approach to race is almost exclusively one of laissez-faire. Racism, Liberalism, and Economics argues that economists' ideas are more complicated.
Behavioural economics deals with observing behaviour and economic decision making behaviour.
Due to the economic crisis of 2008/2009, households faced drastic decreases in their incomes, the availability of jobs. Additionally, the structure of the labour market changed, while austerity measures and public spending cuts left households with less support and safeguards provided by the state. How have these developments affected the burden of unpaid labour and what influence did this have on gender relations?
Deforestation is estimated to be responsible for about 12-29% of global greenhouse gas emissions. This essay will explore ecological economics as an alternative lens through which to approach forest conservation and the acceleration of climate change.
This essay focuses on the sources of government revenue within the Middle East and North African (MENA) region and proposes the implementation of a regional tax reset through increased taxation and tax reforms, deregulation in the private sector and economic diversification to reduce macroeconomic volatilities caused by the hydrocarbon industry.
A central question in development economics literature is, “Why do countries stay poor?” The key disagreements are whether the lack of economic growth stems from institutions or from geography (Nunn 2009). From an institutional perspective, hostile tariff regimes and commodity price dependencies form a barrier to a sectoral shift that would otherwise lead to economic development in developing countries (Blink and Dorton 2011) (Stiglitz 2006).[i]
One of the pluralist theories which has gained prominence following the 2008 financial crisis is Hyman Minsky and his Financial Instability Hypothesis (FIH). Minsky was unique in viewing balance sheets and financial flows as the primary components of capitalist economies, and his focus on the financial system meant he was well-equipped for foresee a crisis much like 2008. Although he died long before 2008 his framework anticipated many of the processes which led to the crash, particularly increased risk-taking and financial innovation which would outstrip the abilities of regulators and central banks to manage the system.
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.
Exploring Economics, an open-access e-learning platform, giving you the opportunity to discover & study a variety of economic theories, topics, and methods.
This syllabus provides an overview of the contents of the course "Understanding Economic Models" at the University of Helsinki.
A rethinking of the way to fight global poverty and winners of the Swedish Bank Prize for Economics.
Exploring Economics Dossier on the economic fallout of the COVID-19 pandemic and the structural crisis of globalization. COVID-19 encounters a structural crisis of globalization and the economic system that drives it, with an uncertain outcome. We asked economists worldwide to share with us their analysis of current events, long-term perspectives and political responses. The dossier will be continuously expanded.
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.
“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.
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.
By the end of this course, students should understand the basic economic theories of the gender division of labor in the home and at the workplace, and theories of gender differences in compensation and workforce segregation.
Capitalism is dissolving boundaries - not only in the sense of ever-expanding global trade flows, but also in the concrete everyday working lives of individuals. What implications does this have for our understanding of freedom, work and borders?
This essay deals with the concepts of Sustainable Land Management (SLM) and Land Degradation Neutrality (LDN).