Heterodox Economics Brochure

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Heterodox Economics Brochure Journals Heterodox • Bulletin of Political Economy • Cambridge Journal of Economics • Cahiers d’Economie Politique Economics • Capital & Class • Contributions to Political Economy • Economic Issues • European Journal of Economics and Economic Policies: Intervention • Feminist Economics • Forum for Social Economics • International Journal of Pluralism and Economics Education • International Journal of Political Economy • International Review of Applied Economics • Journal of Australian Political Economy • Journal of Economic Issues • Journal of Evolutionary Economics • Journal of Institutional Economics • Journal of Post Keynesian Economics • Journal of Socio-Economics • Metroeconomica • PSL Quarterly Review • Real-World Economics Review • Rethinking Marxism • Review of International Political Economy • Review of Keynesian Economics • Review of Political Economy • Review of Radical Political Economics • Review of Social Economy • Revue de la Régulation • World Economic Review Heterodox Economics Directory The informational Directory for Heterodox Economists: www.heterodoxnews.com Graduate and Undergraduate Programs, Journals, Publishers and Book Series, Associations, Institutes, Alternative Blogs, and Other Web Sites. First published in 2005. www.heterodoxnews.com/hed Updated in 2008, 2011, and 2013. Find out more at the Directory website. W: heterodoxnews.com/hed Critical Theory www.heterodox-economics.org to the Status Quo Another Economics is Possible. Another World is Possible. Heterodox Economics Associations Graduate Programs The heterodox economists have proposed to substitute • Association d’Economie Politique (AEP) Ph.D. Programs the study of economic institutions for the study of wants, • Association for Economics and Social Analysis (AESA) • American University, US satisfaction, and the wonderful contrivance of human • Association for Evolutionary Economics (AFEE) • Colorado State University, US nature as made manifest in the equilibrium prices. • Association for Heterodox Economics (AHE) ⎯⎯ Clarence E. Ayres (1936, AER) • Gyeongsang National University, Korea • Association for Institutional Thought (AFIT) • Institute of Social Studies (ISS), The Netherlands Association for Integrity and Responsible Leadership in Heterodox economics refers to economic theories and • • New School University, US communities of economists that are in various ways an Economics and Associated Professions (AIRLEAP) • School of Oriental and African Studies (SOAS), UK alternative to mainstream economics. It is a multi-level • Association for Social Economics (ASE) • Universities of Camerino and Macerata, Italy term that refers to a body of economic theories developed • Association Francaise d’Economie Politique (AFEP) • University of Athens, Greece by economists who hold an irreverent position vis-à-vis • Association pur le Developpement Des Estudes Keynesinnes • University of Bremen, Germany mainstream economics and are typically rejected out of (ADEK) • University of Manitoba, Canada hand by the latter; to a community of heterodox • Association Recherche et Regulation • University of Maastricht, The Netherlands economists whom identify themselves as such and • Belgian-Dutch Association for Institutional and Political • University of Massachusetts, Amherst, US embrace a pluralistic attitude towards heterodox theories Economy without rejecting contestability and incommensurability • University of Missouri, Kansas City, US Brazilian Keynesian Association (AKB) among heterodox theories; and to the development of a • • University of Ottawa, Canada coherent economic theory that draws upon various • Cambridge Political Economy Society (CPES) • University of Siena, Italy theoretical contributions by heterodox approaches which • Conferences of Socialist Economists (CSE) • University of Sydney, Australia stand in contrast to mainstream theory. ⎯⎯ Frederic S. • European Association for Evolutionary Political Economy • University of Utah, US Lee (2008, Palgrave Dictionary of Economics) (EAEPE) • German Association of Political Economy Heterodox economics differs from mainstream economics German Keynes Society • Master’s Programs in at least three important ways: its focus on the sources • International Association for Feminist Economics (IAFFE) and reproduction of unequal power relations with an eye • International Confederation of Associations for Pluralism in • Berlin School of Economics and Law, Germany toward making them more equal; an appreciation and Economics (ICAPE) • City University London, UK integration of history; and a keen sense of the purpose of EIPE, Erasmus University Rotterdam, The Netherlands methods and methodology in understanding real • International Initiative for Promoting Political Economy (IIPPE) • economic phenomena. Together these make for a much • International Society for Ecological Economics (ISEE) • FHTW Berlin University of Applied Sciences, Germany richer, wider, and grounded analysis of society in general • Japan Association for Evolutionary Economics (JAFFE) • International Institute of Social Studies, The Netherlands and economic activity in particular. ⎯⎯ Randy Albelda • Japan Society of Political Economy (JSPE) • Kingston University, UK (2013, Heterodox Economics Directory) • Japanese Society for Post Keynesian Economics (JSPKE) • Bard College, US • Keynes Society Japan (KSJ) • National University of San Martin, Argentina • Korean Association for Political Economy (KAPE) • Nottingham Trent University, UK • Latin American Society for Political Economy and Critical • Roosevelt University, US Heterodox Economics Newsletter Thinking (SEPLA) • School of Oriental and African Studies (SOAS), UK • Progressive Economics Forum (PEF) • Schumacher College, UK • Post Keynesian Economics Study Group (PKSG) • SUNY Buffalo State, US The free on-line newsletter for the community of heterodox • Society for the Advancement of Behavioral Economics (SABE) • Tallinn University of Technology, Estonia economics. The Newsletter is published every three weeks • Society for the Advancement of Socio-Economics (SASE) • University of Barcelona, Spain including calls for papers, calls for participants, job postings for • Society for the Development of Austrian Economics (SDAE) • University of Bradford, UK heterodox economists, new issues of heterodox economic • Society for Heterodox Economists (SHE) • University of Denver, US journals, new books, book reviews, heterodox graduate • Sociedade Brasileira de Economia Politica (SEP) • University of Hamburg, Germany programs, queries for heterodox economists, heterodox • Union for Radical Political Economics (URPE) • University of Hertfordshire, Business School, UK economics in the media, and more.The Newsletter was founded • US Society for Ecological Economics (USSEE) • University of Manchester, UK by Frederic S. Lee (Univ. of Missouri-Kansas City) in 2004. • World Association for Political Economy (WAPE) • University of Massachusetts, Boston, US Former editors are Tae-Hee Jo and Ted P. Schmidt (SUNY • World Economics Association (WEA) • University of the Witwatersrand, South Africa Buffalo State). The current editor is Jakob Kapeller (University of • Wright State University, US Linz) and the book review editor is Fadhel Kaboub (Denison University). W: heterodoxnews.com Visit the Heterodox Economics Directory Website (heterodxonews.com/hed) for the full list of E: [email protected] ✓ heterodox associations, programs, and journals. .
Recommended publications
  • Orthodox and Heterodox Economics in Recent Economic Methodology
    Erasmus Journal for Philosophy and Economics, Volume 8, Issue 1, Spring 2015, pp. 61-81. http://ejpe.org/pdf/8-1-art-4.pdf Orthodox and heterodox economics in recent economic methodology D. WADE HANDS University of Puget Sound Abstract: This paper discusses the development of the field of economic methodology during the last few decades emphasizing the early influence of the “shelf” of Popperian philosophy and the division between neoclassical and heterodoX economics. It argues that the field of methodology has recently adopted a more naturalistic approach focusing primarily on the “new pluralist” subfields of experimental economics, behavioral economics, neuroeconomics, and related subjects. Keywords: orthodoX, heterodoX, neoclassical, economic theory, economic methodology JEL Classification: A12, B41, B49, B50 Myself when young did have ambition to contribute to the growth of social science. At the end, I am more interested in having less nonsense posing as knowledge (Frank Knight, 1956). At the time I was finishing graduate school, there was no real “field” of economic methodology. There were of course methodological writings by influential economists (e.g., Robbins 1932, 1952; Friedman 1953; Samuelson 1964, 1965), but these works were seldom of the same intellectual quality as the research that had made these economists famous as economists. There were also brief discussions of economics in influential books on the philosophy of science (e.g., Hempel 1965, AUTHOR’S NOTE: This paper began as a lecture delivered at the XVII Meeting on Epistemology of the Economic Sciences, School of Economic Sciences, University of Buenos Aires, Buenos Aires, Argentina, October 6-7, 2011. It was subsequently published in Perspectives on epistemology of economics: essays on methodology of economics (Lazzarini and Weisman 2012).
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  • Here with Permission
    Heterodox Economics Newsletter WHO'S AFRAID OF JOHN MAYNARD KEYNES? CHALLENGING ECONOMIC GOVERNANCE IN AN AGE OF GROWING INEQUALITY, by Paul Davidson, Palgrave-MacMillan: 2017, pp. 162; ISBN 978-3- 319-64502-2. Reviewed by James K. Galbraith1 Originally appearing in the Journal of Behavioral and Experimental Economics, this review is reprinted here with permission. Paul Davidson, in his ninth decade, has produced a crisp and clear exegesis of essential Keynesian ideas and the critical failures of so-called mainstream economic thought. The most critical flaw lies in the treatment of time. Rooted in ancient ideas of equilibrium, harmony and social balance, mainstream economics treats the future as an extrapolation of the past, predictable except for random errors, which are called “risk.” This as Davidson insists is incurably incorrect; there is uncertainty and at any time financial markets are prone to collapse in a failed flight to safety, which drains liquidity and deprives both financial and physical assets of their market value. From this it follows that in the social sphere any model that projects the future from the past will fail from time to time. The models work so long as things do not change! As for change, for turning points, they nevertheless occur. And that those who believe most in the model will prepare the least and be hurt the worst. And yet, for the economy to function, “belief” in the model – at the least, conditional belief sufficient to motivate consumption and investment – appears essential. Without it, the private economy cannot prosper. Living in a house of cards is better than having no house at all.
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  • The Routledge Handbook of Heterodox Economics Theorizing, Analyzing, and Transforming Capitalism Tae-Hee Jo, Lynne Chester, Carlo D'ippoliti
    This article was downloaded by: 10.3.98.104 On: 27 Sep 2021 Access details: subscription number Publisher: Routledge Informa Ltd Registered in England and Wales Registered Number: 1072954 Registered office: 5 Howick Place, London SW1P 1WG, UK The Routledge Handbook of Heterodox Economics Theorizing, Analyzing, and Transforming Capitalism Tae-Hee Jo, Lynne Chester, Carlo D'Ippoliti The social surplus approach Publication details https://www.routledgehandbooks.com/doi/10.4324/9781315707587.ch3 Nuno Ornelas Martins Published online on: 28 Jul 2017 How to cite :- Nuno Ornelas Martins. 28 Jul 2017, The social surplus approach from: The Routledge Handbook of Heterodox Economics, Theorizing, Analyzing, and Transforming Capitalism Routledge Accessed on: 27 Sep 2021 https://www.routledgehandbooks.com/doi/10.4324/9781315707587.ch3 PLEASE SCROLL DOWN FOR DOCUMENT Full terms and conditions of use: https://www.routledgehandbooks.com/legal-notices/terms This Document PDF may be used for research, teaching and private study purposes. Any substantial or systematic reproductions, re-distribution, re-selling, loan or sub-licensing, systematic supply or distribution in any form to anyone is expressly forbidden. The publisher does not give any warranty express or implied or make any representation that the contents will be complete or accurate or up to date. The publisher shall not be liable for an loss, actions, claims, proceedings, demand or costs or damages whatsoever or howsoever caused arising directly or indirectly in connection with or arising out of the use of this material. 3 The social surplus approach Historical origins and present state Nuno Ornelas Martins Introduction For classical political economists, the social surplus is the part of production that is not necessary for the reproduction of the existing social system.
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  • 'Value': an Exercise for Embedding Heterodox Economics Into Sociology
    The value in ‘value’: An exercise for embedding heterodox economics into sociology and social policy education Nathan Coombs (University of Edinburgh) Ashley Frawley (Swansea University) Abstract With continuing resistance by economics departments to pluralising their curricula, heterodox economists have suggested an alliance with other social sciences. This article suggests the labour theory value (LTV) as an appropriate concept for embedding heterodox ideas into sociology and social policy teaching. While often seen as a relic of nineteenth century political economy, teaching LTV is beneficial as (1) it is one of few economic theories addressing causes of economic inequality and (2) the contrast with neoclassical subjective value theory (STV) facilitates discussion about relationships between different ideas of ‘value’ and conflicting political ideas about social justice. We present a series of exercises designed to introduce students to differences between STV and LTV. After running and modifying exercises over three years, we find the intervention broadly successful in encouraging students to engage with economic ideas and draw connections between personal experience, society, economics and politics. Keywords Value theory, heterodox economics, economic sociology, social policy, inequality, pedagogy 1. Introduction: bringing heterodox economics to sociology and social policy 1.1. The impasse in economics teaching In the wake the 2007-9 financial crisis there were high hopes for reform within the economics profession. Student groups demanded broader and more applied curricula, government reports were issued on the state of the profession, and there were even fleeting glimpses of introspection within the discipline’s mainstream (Inman, 2013). Yet, commentators have observed that these efforts have left surprisingly little impression (Coyle, 2012; Morgan, 2015).
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  • Financialization in Heterodox Economics
    Financialization in Heterodox Economics Dimitris P. Sotiropoulos Department of Accounting and Finance, The Open University Business School, UK. Email: [email protected] Ariane Hillig Institute of Management Studies, Goldsmiths, University of London, UK. Email: [email protected] Abstract: The term financialization occupies a centre-stage in non-mainstream approaches to economics. Existing research in heterodox economics sees changes in modern finance as a key aspect of the transformation of contemporary capitalism. However, there is considerable diversity in the way financialization is approached, studied, and analyzed in heterodox discussions, implying a range of different analytical frameworks, methodological assumptions, research questions, and strategies. The chapter presents and discusses the main strands of heterodox literature with regard to contemporary finance and overviews alternative research agendas. While the majority of heterodox economic approaches conceptualize financialization as dysfunctional to capitalist society, an emerging research agenda investigates the transformation of class relations and social conflicts that are related to financialization. Acknowledgments. We would like to thank Paul Auerbach, Ewa Karwowski and Philip Mader for their comments on an earlier version of this chapter. The responsibility of any remaining errors or omissions is ours alone. 1 Introduction There is a general consensus both in mainstream and heterodox economics that the role of finance has increased in contemporary capitalist societies since the 1980s, discussions further fuelled by the 2007 financial meltdown. While mainstream economic approaches have attempted to reconsider the concepts of market efficiency and/or financial risk (for instance, see Blinder, Lo and Solow, 2012 and Shin, 2010), heterodox studies have relied on the term financialization to explain how changes in modern finance have become core elements in the transformations of contemporary capitalism.
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  • The Changing Face of Mainstream Economics by David Colander Ric
    The Changing Face of Mainstream Economics by David Colander Ric Holt Barkley Rosser November 2003 MIDDLEBURY COLLEGE ECONOMICS DISCUSSION PAPER NO. 03-27 DEPARTMENT OF ECONOMICS MIDDLEBURY COLLEGE MIDDLEBURY, VERMONT 05753 http://www.middlebury.edu/~econ The Changing Face of Mainstream Economics David Colander, Ric Holt and Barkley Rosser 1. Introduction If one reads the heterodox literature in economics these days, one gets the impression that modern mainstream economics is much like the economics of 50 years ago; it is called neoclassical economics and is criticized in much the same way that earlier heterodox economists criticized the mainstream economics of the 1950s or 1960s. In this paper we argue that much of this criticism today is off the mark because mainstream economic thinking has changed. We argue that economics is moving away from a strict adherence to the holy trinity—rationality, selfishness, and equilibrium—to a more eclectic position of purposeful behavior, enlightened self-interest and sustainability. The paper develops our ideas by considering the nature of that change and the process and sociological dynamics by which the profession changes. 2. The Profession as a Complex System To understand our argument it is helpful to think of the profession as a complex system. Complex systems cannot be understood from assumed first principles; they can only be understood through the process of change that underlies them. In the same way, the economics profession can best be understood by the process of change that characterizes it. Most considerations of the economics profession have tended to take a static view of the profession, which makes it seem as if it is an unchanging entity.
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  • Download the Review
    Heterodox Economics Newsletter EPIC RECESSION: PRECLUDE TO GLOBAL DEPRESSION, by Jack Rasmus, New York, NY: Pluto Press, 2010. 340 pages; ISBN 978-0-7453-2999-7. Reviewed by Yiqing Tang, Denison University In Epic Recession, Jack Rasmus introduces the term “Epic Recession” to analyze various economic crises, including the Great Recession that started in 2007. The author’s analysis is based on a presentation of a debt-deflation-default relationship in Epic Recessions in the context of financial and consumption fragility. Rasmus concludes the book by pointing out the flaws in the stimulus policy that the Obama administration employed, and provides alternative methods to promote economic recovery. The book is organized in three main parts. Part I introduces the analytical framework that Rasmus uses to identify the quantitative and qualitative characteristics of Epic Recessions and their dynamic impact on the economy. Part II is a historical analysis of Epic Recessions in which Rasmus takes a closer look into U.S. Depressions of the 19th century and identifies two types of Epic Recessions: “Type I” (1907-14) and “Type II” (1929-31). In Part III, Rasmus critically assesses the Bush-Obama policies in the wake of the 2007-2010 Epic Recession and provides an alternative route towards economic recovery. Incidentally, the book’s analysis stops in 2010, but its main argument is still valid in 2013. According to Rasmus, unlike normal recessions, which are usually caused by temporary supply and demand shocks (p. 9), Epic Recessions are “precipitated by financial instability and crisis” (p. 24). Quantitatively, Epic Recessions usually fall in certain ranges of several economic indicators that the book specifically identifies, such as GDP and unemployment.
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  • Teaching Heterodox Economics Concepts
    The Handbook for Economics Lecturers Teaching heterodox economics concepts Dr. Andrew Mearman, University of the West of England Published by The Economics Network, June 2007. 1 Introduction 2 2 Enriching an orthodox programme 8 3 Teaching a heterodox module 13 4 The ‘parallel perspectives’ approach 17 5 Assessment strategies 28 6 Cases 31 7 Top tips 35 8 Resources 35 The Handbook for Economics Lecturers 1 Introduction The remarkable uniformity across undergraduate economics programmes (Reimann, 2004) does not reflect the state of contemporary economics. Becker (2004) has bemoaned the way that the undergraduate curriculum has failed to keep pace with developments in economic theory. Authors who have been awarded Nobel prizes for their insights are being ignored. One possible explanation is pragmatic inertia. Undergraduate textbooks have fostered a false sense of an agreed body of knowledge (Ormerod, 2003) whilst lecturers’ sunk capital in teaching materials and the opportunity cost (in terms of time for research) of changing teaching generates a conservative attitude towards the curriculum. Students and the future health of the discipline are the losers from this unhappy conjunction. One outcome is a fall in the number of students wanting to study the subject (Knoedler and Underwood, 2003). A survey of students conducted by the Economics Network of the Higher Education Academy in England gathered elicited responses from students; examples are shown in Figure 1. Figure 1: Undergraduate students who want a more heterodox experience • ‘The basic problem is that the vast majority of economics in [the course] is orthodox/mainstream. Students aren't offered alternative approaches developed by Post-Keynesians, institutionalists and Marxists.
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  • 213926973.Pdf
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Munich Personal RePEc Archive MPRA Munich Personal RePEc Archive Heterodox microeconomics and the foundation of heterodox macroeconomics Frederic Lee University of Missouri-Kansas City 25. April 2011 Online at http://mpra.ub.uni-muenchen.de/30491/ MPRA Paper No. 30491, posted 4. May 2011 13:27 UTC 1 HETERODOX MICROECONOMICS AND THE FOUNDATION OF HETEROEDOX MACROECONOMICS By Professor Frederic S. Lee April 25, 2011 Department of Economics 211 Haag Hall University of Missouri-Kansas City 5100 Rockhill Road Kansas City, Missouri 64110 USA E-mail: [email protected] 2 ABSTRACT The resolution of the controversy over the microfoundations of macroeconomics is important to heterodox economics. In this essay, I argue that the controversy is due to misspecification. That is, the conventional understanding of the controversy is that it is a reductionist exercise of macroeconomics to mainstream microeconomics. However, mainstream microeconomics is theoretically incoherent and hence cannot provide the microfoundations for any macroeconomics, mainstream or heterodox. In addition, a common position in heterodox economics is that heterodox macroeconomics generates a mainstream microeconomics sub-structure. But it is argued that this is not the case; rather it generates a heterodox microeconomics substructure. The essay concludes with the argument that in heterodox economics the micro-macro dichotomy does not exist and hence the controversy should be dismissed. Keywords: Heterodox, Microeconomics, Macroeconomics JEL Code: B5, D01, E12 3 HETERODOX MICROECONOMICS AND THE FOUNDATION OF HETERODOX MACROECONOMICS Many heterodox economists have an ambivalent attitude about the issue of ―microfoundations of heterodox macroeconomics‖.
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  • HETERODOX ECONOMICS AS a TRUE ALTERNATIVE: GOING BEYOND the OPPOSITION BETWEEN "PERFECT" and "IMPERFECT" BEHAVIORS Anwar Shaikh
    January 2014 NEW SCHOOL ECONOMIC REVIEW Volume 6: 36-39 HETERODOX ECONOMICS AS A TRUE ALTERNATIVE: GOING BEYOND THE OPPOSITION BETWEEN "PERFECT" AND "IMPERFECT" BEHAVIORS Anwar Shaikh Initially presented at the Visions in Heterodoxy panel in April 2012 at The New School, New York. I want to start by saying that if you look at what heterodox economics is, it seems to be largely defined at least in terms of "departures" from some aspect of orthodox economics. The orthodoxy furnishes the core assumptions and heterodoxy focuses on departures from them. Core assumptions: selfish behavior; departure: social behavior. Core assumption: optimal outcomes; departure: non-optimal outcomes. Perfect knowledge: imperfect and asymmetric knowledge; rational choice: bounded rationality; perfect competition: imperfect competition; rational expectations: adaptive expectations; stochastically determinate futures: non-ergodic futures; passive interactions: strategic interactions (game theory); automatic full employment: possible unemployment; all outcomes internal to the market: some outcomes may involve externalities; the ideal function of the state is to protect property rights and free markets: the state should regulate some market outcomes. What is interesting is that many of these departures are now also part of orthodox economics because they’re viewed as extensions of the basic theory. The core assump-tions define the basic theory; the departures allow you in every textbook to have a chapter or two on real world applications. So, Becker’s theory of the household allows you to introduce some limited social interactions. Simon’s focus on bounded rationality relaxes the assumptions of rational choice or perfect knowledge. Stiglitz focuses on asymmetric knowledge, especially in the financial institutions.
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  • A Heterodox Analysis of International Exchange And
    A HETERODOX ANALYSIS OF INTERNATIONAL EXCHANGE AND EMPLOYMENT POLICIES A THESIS IN Economics Presented to the Faculty of the University of Missouri-Kansas City in partial fulfillment of the requirements for the degree MASTER OF ARTS by CIGDEM ATES SAYGILI B.A. in Business Administration, Ege University, 2009 B.A. in Economics, Ege University, 2009 Kansas City, Missouri 2015 © 2015 CIGDEM ATES SAYGILI ALL RIGHTS RESERVED A HETERODOX ANALYSIS OF INTERNATIONAL EXCHANGE AND EMPLOYMENT POLICIES Cigdem Ates Saygili, Candidate for the Master of Arts Degree University of Missouri-Kansas City, 2015 ABSTRACT The refugee crisis sourcing from the Middle East has been haunting Europe. Although the warfare caused this crisis, well-directed and well-timed international exchange and employment policies can be the solution. The aim of this thesis is to analyze three heterodox approaches to the international trade, exchange rates, prices and employment policies, and try to find a path to the solution of the refugee crisis. The Institutional and Post-Keynesian approaches, the Modern Monetary Theory and the Marxian economics have different perspectives and policy recommendations to the international exchange and employment policies. After analyzing these approaches, I conclude that the open economy models can be beneficial and create a solution to the refugee crisis if full employment can be achieved and sustained. Because of the limited scope of this thesis, I could only reach for a certain depth of each school of economic thought. iii APPROVAL PAGE The faculty listed below, appointed by the Dean of the School of Graduate Studies, have examined a dissertation titled “A Heterodox Analysis of International Exchange and Employment Policies,” presented by Cigdem Ates Saygili, Candidate for the Master of Arts degree, and certify that in their opinion it is worthy of acceptance.
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  • Heterodox Economics* an Honors Seminar in Social Science Fall 2020
    HETERODOX ECONOMICS* AN HONORS SEMINAR IN SOCIAL SCIENCE FALL 2020 TRAVIS WISEMAN, PH.D.† OFFICE: 210 MCCOOL HALL [email protected] OFFICE HOURS MTW – VIRTUAL, BY APPOINTMENT *PLEASE E-MAIL ME TO MAKE AN APPOINTMENT CLASS MEETINGS: MW, 4:35-5:50 PM CLASSROOM: 407 GRIFFIS HALL AND ONLINE *ALL LECTURES WILL BE LIVE-STREAMED AND RECORDED IN CANVAS‡ * Course: HON 3143; Section: H01; Course Code: 35512 Term: August 17 – November 24, 2020. An electronic version of the syllabus will be available on Canvas. The instructor reserves the right to change this syllabus as time and circumstances dictate. Necessary changes will be announced in class or by e-mail, and a copy of the revised syllabus will be posted on Canvas. †My office will be closed to in-person visits and appointments until further notice. All office hours will be conducted virtually. ‡ Be aware that due to high traffic on the Webex platform, recordings may not be available in Canvas until 24-48 hours after the live lecture. COURSE DESCRIPTION AND OBJECTIVES: het·er·o·dox /ˈhedərəˌdäks/ (adjective): not conforming with accepted or orthodox standards or beliefs. Heterodox Economics is the study of economics outside the mainstream (or “orthodox”) contemporary methods. This course is designed somewhat as a seminar in history of economic thought wherein we will study the Austrian Economists’ contributions to the discipline, then examine political economy primarily through the lens of Austrian Economics (and similar lenses). Moreover, we will compare and contrast the Austrian perspective against the economics you are accustomed to – i.e., your principles- and intermediate-level college coursework – as well as other important philosophical schools of thought – e.g., Marxism and Keynesianism.
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