Educational module summary: Incorporating social issues into an introduction to economics
Written by Stacey Yuen
As we enter the new year, the effects of the coronavirus pandemic continue to linger in classrooms. Beyond the possibility of switching to distance learning, educators and students alike must ask whether their curriculum materials effectively reflect the changing realities of society and the socio-economic challenges that have significantly expanded over the past two years. I am struggling with the question of whether
Given the interconnectedness of economic and social systems, economics education is an ideal platform to integrate concepts across disciplines and equip students with a sound understanding of the real world. The growing list of heterodox programs in economics means that schools and educators are offering interdisciplinary economics education that incorporates analysis from adjacent fields or even more radical theories from within the discipline. This suggests that people are increasingly recognizing the value of
However, the majority of mainstream textbooks still fall within the scope of traditional neoclassical economics. They discuss issues such as pollution, externalities, and inequality, but those discussions are usually sidelined in favor of themes such as perfectly competitive markets, efficiency, growth, and market competition.
The latest collection of free-to-use educational modules from the Economy in Context Initiative (ECI) offers a bold alternative. Going far beyond neoclassical economics, this module draws insights from radical economics and Marxian thought, discusses the concept of power within the economy, and delves into a comparative analysis of different types of economic systems. , discusses the social and political forces that influence consumer behavior. And we present new data on the impact of COVID-19 on inequality. ECI’s modules take an interdisciplinary approach that draws on history, sociology, and other social sciences to discuss economic issues, providing a deep and comprehensive understanding of issues of power and equity.
Below you will find a selection of our latest educational modules.
The Power of Capital: An Introduction to Class, Domination, and Conflict
A unique module perhaps designed for economics students, ‘The Power of Capital’ provides an overview of some of the core themes of radical economics, including economic classes, class power, and class conflict . It deals with aspects of economic power in modern capitalist societies that are largely overlooked in neoclassical economics, such as the unequal power relations between different economic classes.
This module introduces exploitation (defined as one party’s use of power over another to obtain something in excess of the value they gave in exchange) as a central concept in radical economic theory. . Unlike neoclassical economics, which generally ignores exploitation, radical economics focuses on how one party can use power to appropriate the wealth created by another party. Masu. For example, owners of land, machinery, buildings, and other productive assets control wealth in the economy by hiring workers and appropriating the new wealth they generate.
Drawing from the Marxist literature on class theory, this module covers the unequal power relations between the capitalist and working classes and, in particular, the ways in which business owners and managers engage in their own efforts to advance common class interests. It includes a passionate discussion of how to translate economic power into political power. The paper critically examines the role of workers’ collective action in countering unequal class power relations and concludes with a section on conflict and change. Download the module.
comparative economic system
This module takes a closer look at the different ways economies are organized, focusing on capitalism and socialism as two distinct economic systems, and discussing the diverse forms these systems take in theory and practice . This module delves into the historical context in which these systems have emerged and developed, allowing students to consider how to build better economic systems to meet the social, economic, and environmental challenges of the 21st century. It is intended to.cent century.
Perceptions about socialism and capitalism are very different. Some people associate socialism with underdeveloped countries ruled by dictatorships, while others see socialism as an ideal model for building just and prosperous societies. At the same time, while many people associate capitalism with wealth and freedom, others see it as an unequal system that exploits workers and the environment. This module explores these competing perspectives and defines the characteristics of each system based on how economic decisions are made and who owns the productive assets.
This module presents case studies of four different economic systems: market capitalism, market socialism, state capitalism, and planned socialism, using examples from the United States, Sweden, China, and the former Soviet Union. discuss their physical and social experiences and outcomes. We then analyze how key contemporary issues of inequality and environmental sustainability relate to different economic systems. Finally, the appendix presents possible paths to building a stronger economic system. Download the module.
consumption and consumer society
Neoclassical economics assumes that people make rational decisions calculated to maximize their utility, but perhaps no economic activity is more shaped by social context than consumption. Sho. This module explores the various motivations behind consumer behavior by tracing the historical development of the modern “consumer society” and the sociopolitical factors such as identity, norms, and advertising that shape the behavior of economic agents. I will introduce this to my students. We also discuss global consumption patterns from an environmental perspective, in light of research suggesting that consumption levels in the United States and many other developed countries are reaching unsustainable levels.
This module aims to help students consider the extent to which current consumption levels in developed countries are compatible with social, economic and environmental well-being. It suggests public policy strategies for shaping consumption patterns, including how to encourage people to make better choices to promote human well-being. Download the module.
social and economic inequality
Inequality remains one of the most pressing and persistent socio-economic issues of this century, especially as the world enters the third year of the COVID-19 pandemic. The wealth gap between nations is expected to widen for the first time in a generation, according to a recent World Bank study. Economic development in Asia’s poorer and more populous countries led to a 34 percent decline in inequality between countries between 1993 and 2017; directly offset each other.
This module provides an overview of some of the core issues related to economic and social inequality, going beyond income indicators to explore inequalities in education, health care, and labor market discrimination. It addresses both positive and normative questions about inequality. Active analysis focuses on the definition, measurement, causes and consequences of inequality, whereas prescriptive analysis involves students considering whether current levels of inequality are acceptable and often motivated by We encourage you to think about the ethical and political debates about the inequalities that are caused. The values ​​I had.
This module presents an empirical analysis of inequality in the United States and internationally, and includes new data on the impact of COVID-19 on inequality. We then discuss the root causes of rising inequality and suggest possible policy solutions. Download the module.
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