Earth Economics

Go to Course: https://www.coursera.org/learn/earth-economics

Introduction

### Course Review: Earth Economics on Coursera In a world facing unprecedented environmental challenges, economic instability, and a pressing need for sustainability, the course "Earth Economics" on Coursera stands out as a beacon for anyone eager to understand the multifaceted relationship between economic systems and our planet. This course uniquely positions itself to educate individuals seeking to become Earth Economists—professionals equipped with the analytical tools to provide evidence-based advice on global policies that prioritize the health of our planet. #### Course Overview Upon completion of this course, you will not only grasp the behavior of economists but also become a proficient economist yourself, capable of analyzing and interpreting critical data regarding our Earth. The course emphasizes sustainability, equality, and heterodox economic viewpoints, ensuring that you are not only well-versed in traditional economic practices but also in innovative approaches crucial for addressing today’s global crises. The syllabus is structured to address vital themes such as the economic impact of the COVID-19 pandemic while simultaneously emphasizing that our analysis must extend beyond current events. Key topics include sustainability in relation to the UN’s Sustainable Development Goals (SDGs), economic fluctuations, investment, government roles in the economy, monetary policy, and long-term challenges. #### Course Content Breakdown 1. **Earth Economics: A New and Necessary Approach** - This module introduces fundamental concepts in Earth Economics, grounding you in the empirical analysis of recent data and global policy contexts. The course's focus on sustainability and the lessons derived from the pandemic empowers learners to engage deeply with current global challenges. 2. **Accounting for Fluctuations in the Earth Economy** - Through three informative lectures, students will be acquainted with essential data sources used in analyzing the Earth Economy. Understanding Gross Planet Product (GPP) and its implications for measuring economic health allows for a well-rounded comprehension of the planet’s economic conditions, guiding prospective Earth Economists to analyze optimism and pessimism in economic data. 3. **Investment and Saving** - This segment dives into foundational economic theories, such as equilibrium concepts and their real-world applications regarding overpopulation, global warming, and hyperinflation. More importantly, learners will acquire the skills to construct models of the Earth economy, enabling analysis of significant historical events like the Great Recession of 2008. 4. **Government and the Earth Economy** - Featuring a detailed examination of government spending, revenue flows, and public debt, this module highlights the interplay between governmental actions and economic stability. This information is critical for understanding the role of government in sustaining the Earth economy. 5. **Money and Earth Economic Equilibrium** - This module explores the intricate dynamics of money markets and monetary policy. Grasping complex models like IS-LM will furnish students with the capability to engage in thoughtful discussions about governmental intervention in the economy. 6. **Long Run Challenges** - As learners uncover the importance of productivity and sustainability, this final module emphasizes the long-term implications of economic policies on both ecological health and community welfare. #### Why You Should Take This Course If you are passionate about environmental issues and policy-making, "Earth Economics" offers invaluable insights that are highly relevant in today's context. The course is designed for individuals from various backgrounds, whether you are an aspiring economist, a policy maker, or simply someone who cares about sustainability and wants to make a difference. The interactive nature of the course, including real-world applications such as reflections on the COVID-19 pandemic, makes it an engaging experience. You will emerge with a solid grounding in economic principles while being equipped to analyze and contribute to pressing global crises. #### Conclusion and Recommendation In conclusion, "Earth Economics" provides an essential framework for understanding and acting upon the economic challenges facing our planet today. Its thorough exploration of environmental and economic interdependencies prepares students to engage with critical policy debates and offers the knowledge necessary to develop solutions that are sustainable and equitable. Whether you're looking to deepen your understanding of economics or make an impactful career change, I highly recommend enrolling in this course. Engaging with such a pressing subject through a structured platform like Coursera could be your first step toward making a meaningful impact in the world of Earth Economics. The planet needs you—get engaged and help shape a sustainable future!

Syllabus

Earth economics: a new and necessary approach

Earth Economics offers a completely new angle to policy analyses by its focus on the truly global level and its empirical orientation on very recent data. Each week offers "Reflections on the economic impact of the Corona virus" (COVID-19) allowing you to apply what you have learned. But we have to look beyond the pandamic. Sustainability (environmental and related to the UN's SDGs), equality and hetrodox (non mainstream) views on the economy are important for an Earth Economist. Taking stock of emerging planet data and analyzing policies during and following the Global Crisis, Earth economics provides both a topical introduction into basic macroeconomic tools and concepts and insights in highly relevant problems and recent developments in planet production, growth and governance. You will also better understand the behavior and advice of economists, become a better economist and know where to find Earth's data and how to analyse these world observations. Our planet is too important: we need you to get engaged!

This set of three lectures provides you with a good introduction to the most often used data sources for the Earth Economy and their strengths and weaknesses. We study which activities generate value added and discuss both the merits and the drawbacks of the concept of Gross Planet Product (GPP). We will get a good idea about changes in the economic condition of our planet, both from business cycles and from changes in the world's unemployment rate. You will discover that economists are too optimistic about the reliability of their data but also that economist in the past have been too pessimistic about the development of the world economy.

We start with a discussion of the equilibrium concept and relate (in)stability to policy relevant questions such as (over)population, global warming and hyperinflation. We encounter comparative statics and scenario analysis. We discuss investment, saving and consumption and relate these concepts to the development of the Earth economy. At the end of these three lectures you will be able to build a model of the Earth economy and use that model to analyze the Great Recession of 2008/0. That is pretty cool.

In this Module we take a closer look at government. We study government spending and taxation and will discover any instances where government expenditures and receipts move in the same direction. An important issue is the development of public debt that has reached unprecedented levels for our planet. Finally we study money and its functions in the Earth Economy.

In this module we look at the money market and the role and impact of monetary policy. We start with the liquidity trap where interest rates are so low that monetary policy becomes impotent. Next we relate the money market and the product market in the so-called ISLM model. We use this model to shed light on economic debates about the role of government.

Earth Economics is especially relevant when we take a look at the long run because it enables us to analyse sustainability of economic processes and to understand how productivity is key for economic development. We will discover why Earth Economics is important for monitoring and understanding Sustainable Development Goals from a truly global perspective