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Modern Monetary Theory and the Birth of the People s Economy The leading thinker and most visible public advocate of modern monetary theory the freshest and most important idea about economics in decades delivers a radically different bold new understanding for how to build a just and prosperous society Stephanie …
The Deficit Myth
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
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.
What economics education is missing: The real world
The chapter by the Centre for Economy Studies introduces interdisciplinary economic subdisciplines and their importance for economics education.
Interdisciplinary Economics
This chapter by the Centre for Economy Studies explores how courses on the history of economic thought and methods could look if they were pluralist and interdisciplinary.
Rethinking the History of Economic Thought & Methods
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.
Feminist 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.
Neoclassical Economics
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.
History of Economic Thought
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 …
Making Many Maps: Why We Need an Interested Pluralism in Economics and How to Get There
Postkeynesizm skupia się na analizie gospodarki kapitalistycznej, uznawanej za system wysoce produktywny, ale zarazem niestabilny i konfliktogenny. Działalność gospodarczą determinuje popyt efektywny, który zazwyczaj sam w sobie nie wystarcza, by doprowadzić do pełnego zatrudnienia i pełnego wykorzystania zdolności produkcyjny
Postkeynesizm
This chapter by the Centre of Economy Studies provides a map through the complex jungle of economic theories. It provides key insights and ideas for thirteen core topics in economics, organised by selecting the most relevant theoretical approaches per topic and contrasting them with each other.
Pragmatic Pluralism
What does decolonising economics mean? Eurocentrism continues to shape the discipline of economics, leading to inaccurate theories that frame Europe’s development as a universal model.
Decolonising economics: An illustration of the informal economy
Exploring Economics, an open-source e-learning platform, giving you the opportunity to discover & study a variety of economic theories, topics, and methods.
Karl Marx: An early post-Keynesian?
Why has heterodox economics not been more successful in making inroads into the mainstream? And why has “pluralist economics,” the most prominent alternative paradigm to mainstream economics, not been more successful in changing the curriculum?
The Project of Pluralism
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.
Stock Flow Consistent Macroeconomics
Ekonomia behawioralna zajmuje się obserwowaniem zachowań, w tym zachowań związanych z podejmowaniem decyzji gospodarczych.
Ekonomia behawioralna
If there’s one method economists have neglected the most, it’s qualitative research. Whereas economists favour mathematical models and statistics, qualitative research seeks to understand the world through intensive investigation of particular circumstances, which usually entails interviewing people directly about their experiences. While this may sound simple to quantitative types the style, purpose, context, and interpretation of an interview can vary widely. Because of this variety, I have written a longer post than usual on this topic rather than doing it a disservice. Having said that, examples of qualitative research in economics are sadly scant enough that it doesn’t warrant multiple posts. In this post I will introduce qualitative research in general with nods to several applications including the study of firm behaviour, race, Austrian economics, and health economics. More than usual I will utilise block quotes, which I feel is in the spirit of the topic.
Qualitative Methods in Economics: "You Can Observe a Lot Just by Watching"
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
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.
Ecological Economics: A Solution to Deforestation?
This syllabus provides an overview of the contents of the course "Understanding Economic Models" at the University of Helsinki.
Understanding Economic Models
The foundational economy is a concept which describes the infrastructure of everyday life, encompassing all essential services like utilities or healthcare that people require for wellbeing. This contribution provides an overview of foundational thinking.
The foundational economy: Focusing on what matters
In this essay the authors take a look at how welfare could be provided in a degrowth society.
Bidding farewell to growth: How to provide welfare in a degrowth society
Ekonomia instytucjonalna zajmuje się rolą instytucji społecznych, ujmowanych z punktu widzenia systemu prawnego czy umów, a także norm społecznych i wzorców zachowań, powiązanych ze społeczną organizacją produkcji, dystrybucji i konsumpcji w gospodarce.
Ekonomia instytucjonalna
This essay suggests to bring together two aspects of economic thought which so far have developed largely separately: degrowth and feminist economics. In this strive, the concept of care work and its role in feminist economics will be introduced and the downsides of the commodification of care work will be discussed. Subsequently, contributions to the discussion on the (re)valuation of care work will be taken into account.
Who cares? A convergence of feminist economics and degrowth
Exploring Economics, an open-access e-learning platform, giving you the opportunity to discover & study a variety of economic theories, topics, and methods.
The Political Economy of Inequalities
Ekonomia złożoności skupia się na badaniu wzorców, które wyłaniają się z interakcji i współzależności między jednostkami a strukturami w systemach gospodarczych, traktowanych jako systemy o zorganizowanej złożoności. Dużą wagę przywiązuje się do analizy sieci.
Ekonomia złożoności
An essay of the writing workshop on contemporary issues in the field of Nigerian economics: Labour and all the dynamics, such as laws, mobility, gender participation, regulation etc., that are associated with it cements the need for this paper which seeks to objectively review, analyse, and if deemed necessary, give plausible recommendations.
Labour market: Applicable Labour Market Models and Gender Issues
In this essay the author outlines the basis for embracing a post-work agenda, rooted in an emancipatory potential from the domination of waged work, which could help answer both feminist and ecological concerns with work.
Towards a post-work future: a necessary agenda to reconcile feminist & ecological concerns with work
This text provides an easy to understand introduction to complexity economics for non-specialist audiences such as bachelor's students.
Think Complexity Economics is too Complicated? Then this is for you.
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.
Marxian Political Economy
In this ambitious and impressive new book, journalist Howard French seeks to excavate the long elided central importance of the African continent as the “linchpin of the machine of modernity.” In the story of modernity, he writes, the role of Africa is diminished, trivialized, and erased, and by filling in some gaps in this story, he retells the story of modernity.
Born in Blackness
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.
Post Keynesian Economics
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