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Want to learn more about behavioural economics and its application to public policy? Take this free course from the Behavioural Economics Team of the Australian Government.
Behavioural insights for public policy
This book is an authoritative and accessible guide to the pluralist movement threatening to revolutionise mainstream economics. Leading figures in the field explain why pluralism is a required virtue in economics, how it came to be blocked and what it means for the way we think about, research and teach economics.
Pluralist Economics
Adam Smith's The Wealth of Nations provided the first, most influential and lasting explanation of the workings of modern economics. But with his focus on "the market" as the best mechanism for producing and distributing the necessities of life, Smith's concepts only told part of the story, leading to flawed economic models that devalue activities that fall outside of the market's parameters of buying and selling.
The Real Wealth of Nations
If a countrys Gross Domestic Product increases each year, but so does the percentage of its people deprived of basic education, health care, and other opportunities, is that country really making progress? If we rely on conventional economic indicators, can we ever grasp how the worlds billions of individuals are really managing?
Creating Capabilities
This book argues that mainstream economics, with its present methodological approach, is limited in its ability to analyze and develop adequate public policy to deal with environmental problems and sustainable development. Each chapter provides major insights into many of todays environmental problems such as global warming and sustainable growth.
Post Keynesian and Ecological Economics
An ideal type of a pluralistic book. Instead of arguing for one specific interpretation of a complex phenomenon, the authors present six different views on globalisation. Roberts and Lamp carefully balance the different perspectives, presenting the merits of each.
Six Faces of Globalization
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.
Evolutionary Economics
This syllabus provides an overview of the contents of the course "Understanding Economic Models" at the University of Helsinki.
Understanding Economic Models
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
Designed to give second-year undergraduates an intuitive understanding of basic mathematical techniques, and when and why they are applicable. Building on the traditional framework of calculus, the notion of a concave function is used to link the new algebraic methods with the more familiar graphical approachoand to introduce the modern use of duality in economic analysis.
Mathematics for Modern Economics
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.
Heterodox Approaches to Economics
To what extent does gender affect people's patterns of labor force participation, educational preparation for work, occupations, hours of work (paid and unpaid) and earnings?
Sex-Segregated Labor Markets
As seen with the United Nations significant promotion of the Sustainable Development Goals (SDGs) in the past few years, the issue of global development is of growing concern to many international organizations. As humanity continues to become more interconnected through globalization, the inequalities and injustices experienced by inhabitants of impacted countries becomes increasingly clear. While this issue can be observed in the papers of different types (e.g., different schools of thought) of economists throughout the world, the work of behavioral and complexity economists offer a unique, collaborative perspective on how to frame decisions for individuals in a way that can positively reverberate throughout society and throughout time.
Behavioural vs Complexity Economics: Approaches to Development
This course will fundamentally ask whether we can, or even should use the word ‘decolonising’ in our pursuit of a better economics?
Decolonising Economics?
Macroeconomics is fundamental to our understanding of how the world functions today. But too often our understanding is based on orthodox, dogmatic analysis.
Macroeconomics - A Critical Companion
Pluralism includes mainstream economics. Our campaign for pluralism, including this series, have generally focused on ideas outside the mainstream on the basis that it gets plenty of attention already so we want to spend our time exposing people to alternatives. Nevertheless, mainstream ideas deserve some attention. On top of this, a curious feature of modern economics education is that some of the best ideas from mainstream economics are not even taught to undergraduates! During this series I will explore such ideas, starting today with the market construction technique known as ‘matching’.
It's a match!
Though apparently siblings from the same family, New Keynesianism and Post-Keynesianism are completely different schools of economic thought. As to why and in what regard exactly, that is what this book is all about. While the former is the official label of the current mainstream in economic research and teaching (rather than neoclassic economics, which would be more apt a term), the latter tries to preserve the original thinking of John Maynard Keynes, but also additional ideas and concepts of all those building on his work.
Introduction to Post-Keynesian Economics
Along with addressing core conceptual issues in defining heterodox economics, we will cover in some detail five heterodox traditions in economics: Marxian Economics, Institutional Economics, Post-Keynesian Economics, Feminist Economics, and Ecologi-cal Economics. In the first class meeting, we discuss the structure and goals of the course, as well as the expectations and requirements from the students. In addition, we will discuss the concept of heterodoxy in economics, along with discussing the concepts and key issues in mainstream and neoclassical economics.
Heterodox Economics
The workshop introduces into the field of critical political economy and tries to identify the role of finacial markets in capitalism, the reason for financial crises and the relevance of Marx in regard to these topics.
Marxian Political Economy
This course is intended to present some of the main ideas underlying the micro aspects of gender economics. The courses will tackle issues as fertility, marriage, women labor force participation, wage gap, gender inequality, violence against women and women empowerment within her household and within the society where she lives.
Gender and Microeconomics
This is the second part of the seminar A Hard Currency of Politics The discussion centers on the The Currency of Politics by Stefan Eich and is hosted by the journal European Law Open Stefan Eich s presentation of his argument starts at minute 7 53 The discussion centers on …
European Law Open discussion of "The Currency of Politics" by Stefan Eich
This brief responds to the criticism that mainstream economics is currently facing due to its heavy reliance on models and narrow range of quantitative research techniques. It takes a broader view, identifying issues that are also relevant for heterodox and pluralist approaches to economics.
Rethinking Economics
Economics has become a monolithic science, variously described as formalistic and autistic with neoclassical orthodoxy reigning supreme. So argue Dimitris Milonakis and Ben Fine in this new major work of critical recollection.
From Political Economy to Economics
Once in a while the world astonishes itself. Anxious incredulity replaces intellectual torpor and a puzzled public strains its antennae in every possible direction, desperately seeking explanations for the causes and nature of what just hit it. 2008 was such a moment. Not only did the financial system collapse, and send the real economy into a tailspin, but it also revealed the great gulf separating economics from a very real capitalism.
Modern Political Economics
This unique up-to-date volume not only provides state-of-the-art discussions of the most recent developments in modern macroeconomics but also includes a series of interviews with leading economists that shed new light on the major intellectual and policy issues of the 1990s. The book is at once an invaluable text and a superb overview that will be welcomed by teachers and students alike.
A Modern Guide to Macroeconomics
Within the heterodox field one of the most active topics is related to the theory of economic growth and distribution This is a textbook for advance undergraduate and graduate students Throughout its 18 chapters Classical Neoclassical and post Keynesian models are developed Each chapter contains study problems and suggested readings …
Growth and Distribution
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
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 article, looks at the complex interaction between an urban economy and the vegetation within that urban area. In summary, numerous studies have found a positive link between increased vegetation and social as well as personal health. It makes a case for increasing urban vegetation as a way to benefit local economies.
Urban Arbonomics | The Complex Nature of Urban Vegetation
Exploring Economics, an open-source e-learning platform, giving you the opportunity to discover & study a variety of economic theories, topics, and methods.
Yes, Money is Endogenous. Who Cares?
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.
Whither Central Banks?
How the brain works, how we learn, and why we sometimes make stupid mistakes.
The Science of Thinking
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