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Wondering why economists haven't predicted serious financial crises? Shocked by economic assumptions of human behavior as self-centered and focused only on what can be measured? Wondering if there are no sensible economic alternatives to the free market? Then you are in the right place to learn economics! This is the first online course to teach economics from a pluralistic perspective.
Economic pluralism means that a plurality of theoretical and methodological viewpoints is seen as valuable in itself and is simply the best way economics can advance understanding of the world.
This MOOC will illustrate economic pluralism not only in substance but also in form.
You will not only see me, an economics professor, but also an emerging professor from our business school, who illustrates the perspective of the actor from business, government and civil society.
And you will meet an online student, based in Greece, who will help you through tutorial videos where I will explain key concepts, tools and techniques.
I will not limit myself to the dominant theory, as almost all other courses do.
Instead, I will introduce you to four very different economic theories for the entire set of standard topics in microeconomics and macroeconomics.
Theories are increasingly presented from broad and more interdisciplinary to narrow and more mathematical.
The four theories I would like to introduce to you are social economics, institutional economics, post-Keynesian economics, and, at the end of each topic, neoclassical economics, for the special case of ideally functioning markets.
But not everything is different in this course.
Like any economics course, it includes numbers, diagrams, tables, equations, and some calculations.
Why would you go to the effort of learning the basics of four theories instead of one? Because it will help you see why many economists can't predict crises, while others can see signs but often go unheeded because they don't belong to the mainstream school of thought.
It will also let you see that it is just a theory that claims that economic agents are self-centered and focus only on the measurable.
Other economic theories go far beyond these limitations.
And, finally, the pluralist approach will provide you with political alternatives to the neoliberal policies that promote the free market.
The objective of this course is twofold.
First, to enable you to understand different economic viewpoints, linked to important traditions in economic thought, and basic economic concepts belonging to these theoretical perspectives.
Second, to allow you to do some basic economic calculations that are important in economic life, such as calculating an inflation rate, and in economic policy, such as estimating the gross gains from trade for both trading partners, and in economic arguments, such as calculating of utility maximization with given prices and budgets.
Please note that if you complete all elements of the course, the total course load is likely to be 4 ECT (approximately 134 hours).
I hope you enjoy the course! and in economic arguments, such as calculating utility maximization with given prices and budgets.
Please note that if you complete all elements of the course, the total course load is likely to be 4 ECT (approximately 134 hours).
I hope you enjoy the course! and in economic arguments, such as calculating utility maximization with given prices and budgets.
Please note that if you complete all elements of the course, the total course load is likely to be 4 ECT (approximately 134 hours).
I hope you enjoy the course!
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Erasmus University of Rotterdam
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