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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.
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.
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.
MERCOSUR (Mercado Común del Sur or Common Southern Market) was the first formalized attempt to integrate South American countries economically and politically.
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]
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.
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.
Behavioural economics deals with observing behaviour and economic decision making behaviour.
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.
La idea central de la economía ecológica es que la actividad económica humana está acotada por límites absolutos. Sin embargo, estos límites no son completamente fijos, ya que están codeterminados por: (1) «límites planetarios» (fijos) (Rockström et al. 2009) y (2) factores sociales (dinámicos), como valores, instituciones, etc. La economía se concibe como un subsistema integrado en los sistemas más amplios de la sociedad y la biosfera.
La mayoría de los economistas institucionales conciben la economía como un sistema de organización social (formal e informal) relacionado con la producción, distribución y consumo de bienes o, en términos institucionalistas tradicionales, para la asignación de los medios de la vida socioeconómica y su reproducción. En lugar de presuponer ciertas características universales enraizadas en la naturaleza humana, la idea crucial es que las características concretas de las sociedades y las formas de organización económica varían considerablemente a lo largo del espacio y el tiempo.
Según la economía neoclásica, el problema económico central es la naturaleza limitada de los recursos sociales. Debido a esta escasez, la economía como ciencia debe estudiar la organización de una economía para instaurar el bienestar mediante la asignación óptima de recursos.
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.
“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.
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.
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.
This course is an introduction to Development Economics and is concerned with how economists have sought to explain how the process of economic growth occurs, and how – or whether – that delivers improved well-being of people.
This essay deals with the concepts of Sustainable Land Management (SLM) and Land Degradation Neutrality (LDN).
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.
Environmental catastrophe looms large over politics: from the young person’s climate march to Alexandria Ocasio-Cortez’s Green New Deal, increasing amounts of political space are devoted to the issue. Central to this debate is the question of whether economic growth inevitably leads to environmental issues such as depleted finite resources and increased waste, disruption of natural cycles and ecosystems, and of course climate change. Growth is the focal point of the de-growth and zero-growth movements who charge that despite efficiency gains, increased GDP always results in increased use of energy and emissions. On the other side of the debate, advocates of continued growth (largely mainstream economists) believe that technological progress and policies can ‘decouple’ growth from emissions.
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.
In both economics textbooks and public perceptions central banks are a fact of life. On the wall of my A-level economics classroom there was the Will Rogers quote “there have been three great inventions since the beginning of time: fire, the wheel, and central banking”, summarising how many economists view the institution. There is a widespread belief that there is something different about money which calls for a central authority to manage its operation, a view shared even by staunch free marketeers such as Milton Friedman. This belief is not without justification, since money underpins every transaction in a way that apples do not, but we should always be careful not to take existing institutions for granted and central banking is no exception. In this post I will look at the idea of private or free banking, where banks compete (and cooperate) to issue their own currency.
This module examines current socio-political issues through the lens of pluralism, that is pluralism of theory, pluralism of method and interdisciplinary pluralism
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?
One hundred years ago the idea of 'the economy' didn't exist. Now, improving the economy has come to be seen as perhaps the most important task facing modern societies. Politics and policymaking are conducted in the language of economics and economic logic shapes how political issues are thought about and addressed.
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.
Professor Joseph Aldy from Harvard Kennedy School gives us some insights about how economics can set the balance between policymakers, scientists, employers and citizens.
This text summarizes the content of the 2018 Nobel Prize winner W. Nordhaus. It is extended by some critical perspectives on this topic. The short dossier gives an overview of the most important texts we have read in the climate economics reading group.
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