Economics: Society, Markets, and [In]equality from Coursera

Thinking critically about today's economy can help you understand the world around you. Economics: Society, Markets, and [In]equality will pique your curiosity and inspire you to learn more about the power dynamics that determine how people and resources are valued, how goods move around the world, and how we manage our planet and the future. Your understanding of economics will make you a better advocate, voter, investor, consumer, and citizen. You’ll also develop an understanding of the benefits and drawbacks of our current economic system and get a framework for thinking about how we, as individuals and as a society, can rethink our relationship with our planet and the way we interact with one another.

In this course, you'll be learning from the following New School for Social Research faculty:

- William Milberg, Dean of the New School for Social Research and Professor of Economics

- Teresa Ghilarducci, Bernard L. and Irene Schwartz Professor of Economics and Director of the Schwartz Center for Economic Policy Analysis

- Paulo dos Santos, Associate Professor of Economics

What's inside

Syllabus

Why a Worldly Philosophy?

Welcome to week 1 of Economics: Society, Markets and [In]equality. This week is about how economic analysis can help us understand the world around us and our history. This series of lessons starts off with an overview of modern capitalism and how it evolved and then explores profits and how they drive the economy. Finally, you’ll learn about how various economic philosophies that we may take for granted affect the way we see the world, especially how we view wealth and poverty. You’ll learn how these philosophies came to be, and you might even be challenged to rethink your own worldview. So, let’s get started!

Common Good, Private Purposes

Welcome to week 2 of Economics: Society, Markets and [In]equality. The lessons in this module take on the complex relationship between individual actions and social outcomes in capitalist economies. You’ll learn about the Good, the Bad, and the Ugly in the functioning of those economies: how competitive markets may give us good social outcomes, how decisions driven by the pursuit of individual profits can potentially destabilize the economy as a whole, and how capitalism can be understood to take advantage of certain social groups. So, let’s get started!

Power at Work

Welcome to week 3 of Economics: Society, Markets and [In]equality. This week covers the topic of Power at Work and refers to the concept of reservation wage throughout. As you progress through the lessons, you’ll learn about what restricts and empowers the bargaining power of workers. Finally, throughout the week you will also learn about key moments in history that have influenced the extent to which workers are able to obtain the security they need. The roles of government and unions will be discussed in this regard, as well as the influence of market structures. So, let’s get started!

The Promise and Disappointments of Globalization

Welcome to week 4 of Economics: Society, Markets and [In]equality. This week's lessons ask the questions: What is economic globalization? When did it originate? What are its consequences for people and their well-being? Why a Worldly Philosophy? This series of lessons explores the nature and extent of globalization and how society grew from isolated markets to an interconnected economic system. You’ll learn about the forces driving globalization, why and how companies buy parts and labor from other countries in global value chains, and how globalization benefits society. In addition, you’ll learn about the drawbacks of globalization—the winners and the losers—and how we might rethink the world economy to make it work better for a broader swath of society and a larger number of countries. So let's dive into the lessons and open your mind to the possibilities!

Building a Thriving Society, Planet, and Individuals

Welcome to week 5 of Economics: Society, Markets and [In]equality. This week culminates previous lessons and provides an opportunity to reflect on what critical changes need to be made. As you review this week, take time to reflect on what role you can play in shaping a better economy so people and the planet can thrive. So, let's get started!

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Explores how economic analysis can help us understand the world around us and our history

Taught by William Milberg, Dean of the New School for Social Research and Professor of Economics, Teresa Ghilarducci, Bernard L. and Irene Schwartz Professor of Economics and Director of the Schwartz Center for Economic Policy Analysis, and Paulo dos Santos, Associate Professor of Economics

Develops an understanding of the benefits and drawbacks of our current economic system

Examines the complex relationship between individual actions and social outcomes in capitalist economies

Investigates the concept of reservation wage and its impact on worker bargaining power

Evaluates the nature and extent of globalization and its consequences for people and their well-being

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Economics: Society, Markets, and [In]equality with these activities:

Organize and Review Course Materials

Show steps

Improve comprehension and retention by organizing and reviewing course materials.

Browse courses on Economics

Show steps

Gather all course materials, including notes, assignments, and readings.
Organize the materials into a logical structure, such as by topic or week.
Review the materials regularly to reinforce learning and identify areas for further study.

Read: The Nature of Capitalism by Anatole Kaletsky

Show steps

Understand the evolution and impact of capitalism on society and markets.

View Capitalism 4.0: The Birth of a New Economy in... on Amazon

Show steps

Identify key concepts and theories introduced in the book.
Read Chapters 1-5 to gain an overview of capitalism's origins and development.
Read Chapters 6-10 to explore the role of markets, profit, and competition.
Contemplate the political and social implications of capitalism discussed in Chapters 11-15.

Explore Online Economics Tutorials

Show steps

Reinforce course concepts and gain additional insights through interactive tutorials.

Browse courses on Economics

Show steps

Identify online economics tutorials that align with course topics.
Follow the tutorials, completing exercises and assessments to test understanding.
Utilize the resources provided in the tutorials to supplement course materials.

Five other activities

Expand to see all activities and additional details

Show all eight activities

Participate in Weekly Peer Discussion Groups

Show steps

Engage with peers to discuss course concepts, share insights, and enhance understanding.

Browse courses on Economics

Show steps

Join a peer discussion group consisting of 3-5 students.
Prepare for each weekly discussion by reading assigned materials and reflecting on key concepts.
Actively participate in the discussions, sharing perspectives and asking thoughtful questions.
Reflect on the discussions and identify areas for further learning.

Solve Economic Problem Sets

Show steps

Enhance problem-solving skills and reinforce course concepts through practice.

Browse courses on Economics

Show steps

Obtain economics problem sets from the instructor or online resources.
Work through the problems, applying course concepts and analytical techniques.
Check your solutions against provided answer keys or consult with the instructor for feedback.

Conduct a Group Economic Simulation

Show steps

Simulate a real-life economic system to understand market dynamics and interactions.

Browse courses on Economic Modeling

Show steps

Choose an economic simulation model or game, such as the Beer Game or the Stock Market Game.
Divide students into teams and assign roles within the simulation.
Run the simulation, making decisions and observing the outcomes.
Analyze the results, identify patterns, and discuss the implications for real-world economic behavior.

Write a Policy Brief on an Economic Inequality Issue

Show steps

Analyze economic inequality and propose policy recommendations to address it.

Browse courses on Economic Inequality

Show steps

Research and identify a specific economic inequality issue to focus on.
Gather data and evidence to support your analysis.
Develop policy recommendations that aim to reduce or mitigate economic inequality.
Write a policy brief presenting your findings and recommendations in a concise and persuasive manner.

Participate in an Economics Case Study Competition

Show steps

Apply course knowledge and analytical skills to solve real-world economic problems.

Browse courses on Economics

Show steps

Identify and register for an economics case study competition.
Analyze the case study, identify key issues, and develop potential solutions.
Prepare a presentation and supporting materials to showcase your findings.
Present your case to a panel of judges and receive feedback.

Career center

Learners who complete Economics: Society, Markets, and [In]equality will develop knowledge and skills that may be useful to these careers:

Economist

Economists study how resources are allocated throughout society. They analyze data, create and evaluate economic models, and make predictions about the economy. This course provides an excellent foundation for an aspiring Economist as it introduces the basic tenets of economics, such as supply and demand, market equilibrium, and economic growth. The course also covers more advanced topics such as income inequality, globalization, and the role of government in the economy.

See salaries and explore the career path for Economist

Financial Analyst

Financial Analysts study and review financial information to make recommendations on investments. They analyze financial data, create and evaluate financial models, and provide investment advice to clients. This course provides an excellent foundation for an aspiring Financial Analyst as it introduces the basic tenets of economics, such as supply and demand, market equilibrium, and economic growth. The course also covers more advanced topics such as income inequality, globalization, and the role of government in the economy, which are all important factors to consider when making investment decisions.

See salaries and explore the career path for Financial Analyst

Market Researcher

Market Researchers study market trends and consumer behavior to help businesses make informed decisions about their products and services. They gather and analyze data, create and evaluate market research reports, and provide recommendations to businesses. This course provides an excellent foundation for an aspiring Market Researcher as it introduces the basic tenets of economics, such as supply and demand, market equilibrium, and economic growth. The course also covers more advanced topics such as income inequality, globalization, and the role of government in the economy, which are all important factors to consider when conducting market research.

See salaries and explore the career path for Market Researcher

Policy Analyst

Policy Analysts study and evaluate government policies and programs to assess their effectiveness and impact. They analyze data, create and evaluate policy analysis reports, and make recommendations to policymakers. This course provides an excellent foundation for an aspiring Policy Analyst as it introduces the basic tenets of economics, such as supply and demand, market equilibrium, and economic growth. The course also covers more advanced topics such as income inequality, globalization, and the role of government in the economy, which are all important factors to consider when evaluating government policies and programs.

See salaries and explore the career path for Policy Analyst

Urban Planner

Urban Planners study and design cities and towns to make them more livable, sustainable, and equitable. They analyze data, create and evaluate urban planning proposals, and work with policymakers and stakeholders to implement plans. This course provides an excellent foundation for an aspiring Urban Planner as it introduces the basic tenets of economics, such as supply and demand, market equilibrium, and economic growth. The course also covers more advanced topics such as income inequality, globalization, and the role of government in the economy, which are all important factors to consider when planning cities and towns.

See salaries and explore the career path for Urban Planner

Business Analyst

Business Analysts study and analyze businesses to identify opportunities for improvement. They gather and analyze data, create and evaluate business analysis reports, and provide recommendations to businesses. This course provides an excellent foundation for an aspiring Business Analyst as it introduces the basic tenets of economics, such as supply and demand, market equilibrium, and economic growth. The course also covers more advanced topics such as income inequality, globalization, and the role of government in the economy, which are all important factors to consider when analyzing businesses.

See salaries and explore the career path for Business Analyst

Data Analyst

Data Analysts collect, clean, and analyze data to identify trends and patterns. They create and evaluate data analysis reports, and provide recommendations to businesses and organizations. This course provides an excellent foundation for an aspiring Data Analyst as it introduces the basic tenets of economics, such as supply and demand, market equilibrium, and economic growth. The course also covers more advanced topics such as income inequality, globalization, and the role of government in the economy, which are all important factors to consider when analyzing data.

See salaries and explore the career path for Data Analyst

Consultant

Consultants provide advice and expertise to businesses and organizations to help them improve their operations and achieve their goals. They analyze data, create and evaluate consulting reports, and provide recommendations to clients. This course provides an excellent foundation for an aspiring Consultant as it introduces the basic tenets of economics, such as supply and demand, market equilibrium, and economic growth. The course also covers more advanced topics such as income inequality, globalization, and the role of government in the economy, which are all important factors to consider when providing advice to businesses and organizations.

See salaries and explore the career path for Consultant

Teacher

Teachers plan and deliver lessons to students in order to help them learn. They create and evaluate lesson plans, grade assignments, and work with students to help them achieve their learning goals. This course provides an excellent foundation for an aspiring Teacher as it introduces the basic tenets of economics, such as supply and demand, market equilibrium, and economic growth. The course also covers more advanced topics such as income inequality, globalization, and the role of government in the economy, which are all important factors to consider when teaching students about the world around them.

See salaries and explore the career path for Teacher

Social Worker

Social Workers help people to improve their lives and overcome challenges. They provide counseling, support, and resources to individuals, families, and communities. This course provides an excellent foundation for an aspiring Social Worker as it introduces the basic tenets of economics, such as supply and demand, market equilibrium, and economic growth. The course also covers more advanced topics such as income inequality, globalization, and the role of government in the economy, which are all important factors to consider when working with people to improve their lives and overcome challenges.

See salaries and explore the career path for Social Worker

Nonprofit Manager

Nonprofit Managers lead and manage nonprofit organizations. They develop and implement strategic plans, raise funds, and oversee the day-to-day operations of the organization. This course provides an excellent foundation for an aspiring Nonprofit Manager as it introduces the basic tenets of economics, such as supply and demand, market equilibrium, and economic growth. The course also covers more advanced topics such as income inequality, globalization, and the role of government in the economy, which are all important factors to consider when leading and managing a nonprofit organization.

See salaries and explore the career path for Nonprofit Manager

Lawyer

Lawyers advise and represent clients on legal matters. They research and analyze the law, draft legal documents, and represent clients in court. This course provides an excellent foundation for an aspiring Lawyer as it introduces the basic tenets of economics, such as supply and demand, market equilibrium, and economic growth. The course also covers more advanced topics such as income inequality, globalization, and the role of government in the economy, which are all important factors to consider when providing legal advice and representation.

See salaries and explore the career path for Lawyer

Journalist

Journalists research and write stories about current events and issues. They interview sources, gather and analyze data, and write articles and reports. This course provides an excellent foundation for an aspiring Journalist as it introduces the basic tenets of economics, such as supply and demand, market equilibrium, and economic growth. The course also covers more advanced topics such as income inequality, globalization, and the role of government in the economy, which are all important factors to consider when reporting on current events and issues.

See salaries and explore the career path for Journalist

Politician

Politicians run for and hold elected office in government. They develop and implement public policy, and represent the interests of their constituents. This course provides an excellent foundation for an aspiring Politician as it introduces the basic tenets of economics, such as supply and demand, market equilibrium, and economic growth. The course also covers more advanced topics such as income inequality, globalization, and the role of government in the economy, which are all important factors to consider when running for and holding elected office.

See salaries and explore the career path for Politician

Public Administrator

Public Administrators work in government agencies to implement and enforce public policy. They develop and implement policies, manage programs, and oversee the day-to-day operations of government agencies. This course provides an excellent foundation for an aspiring Public Administrator as it introduces the basic tenets of economics, such as supply and demand, market equilibrium, and economic growth. The course also covers more advanced topics such as income inequality, globalization, and the role of government in the economy, which are all important factors to consider when working in government.

See salaries and explore the career path for Public Administrator