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In this post, Rethinking Economics sets out what it means to decolonise economics education and how we can do that. The article first breaks decolonising down into a "mind-set" and a "process", then applies this process to economics education. It finishes with a reading list and some suggested actions to get you started decolonising economics today.
Let's Decolonise Economics Education!
This article applies insights from behavioral economics to consider how the general public may make decisions around whether or not to receive a future COVID-19 vaccine in a context of frequent side effects and preexisting mistrust. Three common cognitive biases shown to influence human decision-making under a behavioral economics framework are considered confirmation bias, negativity bias, and optimism bias.
A behavioral economics perspective on the COVID-19 vaccine amid public mistrust.
An essay of the writing workshop on Nigeria’s Readiness for and the Effect of the Fourth Industrial Revolution
The Role of Women in the Fourth Industrial Revolution
L’économie évolutionniste se focalise sur le changement économique. En conséquence, sont analysés des processus de changement tels que la croissance, l’innovation, le changement technologique et structurel, ou encore le développement économique en général. L’accent est mis sur les populations et les (sous-)systèmes.
Économie évolutionniste
Here we look at the effect of the 2008 Climate Change Act passed in Parliament in the United Kingdom as an effort to curb emissions in all sectors. The Act aside from setting goals to become a low-carbon economy sets up an independent committee on Climate Change to ensure the implementation of policies to comply with the ultimate goal of 80% reduction in total emissions in 2050. I make use of the Synthetic Control Method (SCM) to create a comparative case study in which the creation of a synthetic UK serves as a counterfactual where the treatment never occurred (Cunningham, 2018).
Synthetic Control Method for Estimating the Effect of the Climate Change Act of 2008 in Britain
This course teaches basic concepts relevant in political economy. Topics include the contractual nature of the state, public versus private goods, property rights and economic externalities, the logic of collective action and social choice theory. It also refers to the fundamentals of political philosophy, bringing two ideas of liberty into the picture. The relevance and limitations of the economic approach to the study of law and politics are then discussed.
State, Law and the Economy
This course is part of the SDG initiative addressing the UN Sustainable Development Goals, specifically for the following SDGs [1, 8, 10 and 16].
Political Economy of Institutions and Development
The Atlas of Economic Complexity is an award-winning data visualization tool that allows people to explore global trade flows across markets, track these dynamics over time and discover new growth opportunities for every country.
Atlas of Economic Complexity
On July 2020 ZOE-Institute published a unique platform for transformative policymaking: Sustainable Prosperity. Building on insights from new economic thinking the platform provides knowledge about ideas, arguments and procedures that support effective promotion of political change. It aims to strengthen change makers in public policy institutions, who are working on an ambitious green and just transition. As such, it provides convincing arguments and policy ideas to overcome the reliance of economic policy on GDP growth
Sustainable Prosperity
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.
Economics of Gender
This collection of previously published and new papers is a major intervention in the on-going debate about the nature and future of economics. Instead of the present deductivist-formalist orientation of mainstream economics, Lars Syll advocates for the adoption of a more pluralist approach to economics, arguing for more realism and relevance with less insistence on mathematical modeling.
On the Use and Misuse of Theories and Models in Mainstream Economics
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.
Ecological Economics
Economic sociology is an entire subfield and one could write an series on it, so I’m going to stick to probably the most prominent economic sociologist and the founder of ‘new economic sociology’, Mark Granovetter.
Economic Sociology: the Contributions of Mark Granovetter
What determines the status of women in different communities? What role is played by women’s labor (inside and outside of the home)? By cultural norms regarding sexuality and reproduction? By racial/ethnic identity? By religious traditions? After some brief theoretical grounding, this course will address these questions by examining the economic, political, social, and cultural histories of women in the various racial/ethnic groups that make up the US today.
Political Economy of Women
First some definitions regarding econometrics, regressions, types of data and independent and dependent variables are given. Then the basic function of a simple regression analysis is explained. Lastly, there is discussion of the meaning of the error term.
Econometrics // Lecture 1: Introduction
This article explores the production function, the prevailing view of capital that underpins it, and the main alternative perspective. By exploring these perspectives, the authors aim to provide students with a foundational understanding of the controversies surrounding the treatment of capital in production, a topic expressly excluded from mainstream textbooks.
Why We Should Think Twice About Production Functions
From the two premises that (1) economies are complex systems and (2) the accumulation of knowledge about reality is desirable, I derive the conclusion that pluralism with regard to economic research programs is a more viable position to hold than monism. To substantiate this claim an epistemological framework of how scholars study their objects of inquiry and relate their models to reality is discussed. Furthermore, it is argued that given the current institutions of our scientific system, economics self-organizes towards a state of scientific unity. Since such a state is epistemologically inferior to a state of plurality, critical intervention is desirable.
The Complexity of Economies and Pluralism in Economics
An essay of the writing workshop on contemporary issues in the field of Nigerian economics: The adverse effect of climate change is overwhelming, not just in Nigeria but globally. Global warming is the result of hostile human activities that have impacted the environment negatively. This is the principal variable the government should tackle through practical innovations such as the acceptable implementation of Adaptation Policies and also through the adequate implementation of environmental tax. These will enhance pro-environmental behaviour which is fit for socio-political and economic activities for sustainability.
The Role of Fiscal Policy in Climate Change Mitigation Via Environmental Management and Sustenance in Nigeria
The workshop deals with the contribution of Plural Economics to the urgently needed change of the economic system towards sustainability and global responsibility.
After completing the module, participants should be able to demarcate and explain different economic approaches to sustainability. They should be able to evaluate the respective concepts based on their contribution to the ecological transformation of the economic system.
Pluralist Economics for a Sustainable Economic Future
Silvia Federici illustrates the potential of the concept of the commons as way of resistance and reorganization of the society in times of social injustice and ecological crisis. Amongst others, she outlines the role of women in the commons movement.
Federici explains why she regards the theory of the tragedy of the commons as unfounded and why she considers Marx's concept of primitive accumulation as still appropriate to describe current events of deprivation, such as land grabbing.
The Struggle for the Commons
This module examines current socio-political issues through the lens of pluralism, that is pluralism of theory, pluralism of method and interdisciplinary pluralism
Pluralist Economic Analysis
Thomas Piketty's Capital in the 21st century is presented and the central argument that capital returns have historically exceeded growth rates, thus exacerbating inequality is illustrated.
An Introduction to Thomas Piketty's Capital in the 21st Century- A Macat Economics Analysis
In this episode of the Planet Money podcast the Caribbean island of Barbuda is used as an example to explore the notion of property rights Until the island was struck by Hurricane Irma in November 2017 the island belonged to all Barbudans First there is a brief historic background given …
"The Island No One Owns" - Property Rights in Barbuda
Developmental economics
The roots of dependency theory
In this book, the author critically examines a number of socialist proposals that have been put forward since the end of the Cold War. It is shown that although these proposals have many merits, their inability effectively to incorporate the benefits of information technology into their models has limited their ability to solve the problem of socialist construction. The final section of the book proposes an entirely new model of socialist development, based on a "needs profile" that makes it possible to convert the needs of large numbers of people into data that can be used as a guide for resource allocation. This analysis makes it possible to rethink and carefully specify the conditions necessary for the abolition of capital and consequently the requirements for socialist revolution and, ultimately, communist society.
Information Technology and Socialist Construction
Galbraith first explores the social darwinism of Herbert Spencer and others that served as apology for the highly unequal distribution of wealth in the US at the end of the 19th century and naturalized differences in wealth by appealing to the concept of natural selection of the fittest. Then some instances of the unscrupulous business practices (i.e. robberies) of the American railroad tycoons and other business magnates are recounted. Lastly, Galbraith lines out some of the arguments of Thorstein Veblen, who delegitimized and ridiculed the business and leisure activities of the rich by putting them in the same category as predatory and ritualized practices of primitive or ancient societies.
The Age of Uncertainty Episode 2 - The Manners and Morals of High Capitalism
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 …
Behavioral Economics: The Next Generation
In this text, Fred Heussner takes up the debate on anti-fascist economics, places it in the context of existing developments and identifies potential for further development.
Anti-fascist economics? For sure! But what does that mean?
The course will teach students to analyze the goals, implementation, and outcomes of economic policy.
Advanced Economic Policy
First the global mean is calculated from a matrix of three sets each containing three observations. Then the sum of squares is calculated. Lastly, the concept of degree of freedom is explained.
ANOVA 1: Calculating SST (total sum of squares)
Ha Joon Chang exposes the main ideas of his book Bad Samaritans, namely that historically states have developed and industrialized by making policy interventions related to industry protection, tariffs and subsidies and not by opening their markets to free trade. Chang elaborates on the examples of Japan, the US, Singapore and Germany amongst others to show that an interventionist path to development has been the regularity and not an anomaly. In the end of the lecture, he argues that they idea of a level playing field should be replaced by a trade order that accounts for differences in power and economic capacities of different countries. The last 20 minutes are questions and answers.
Ha-Joon Chang - Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism
The documentary proceeds along the lines of Karl Marx' biography, inquiring into his workings as a journalist, social scientist, revolutionary and historian and his travels through Europe. In chronological order historical events, such as the 1848 revolution or the Paris Commune as well as concepts such as dialectics, the labour theory of value or the reform-revolution debate are revisited. The documentary is narrated by John Kenneth Galbraith and by an actor, who plays Marx and recites quotes from his writings.
The Age of Uncertainty Episode 3 Karl Marx The Massive Dissent
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