Economics: Society, Markets, and [In]equality

Go to Course: https://www.coursera.org/learn/economics-society-markets-and-inequality

Introduction

**Course Review: Economics: Society, Markets, and [In]equality on Coursera** In an era where understanding economic systems is more crucial than ever, Coursera’s "Economics: Society, Markets, and [In]equality" offers an eye-opening exploration of how economic analysis shapes not only our understanding of past and present societal structures but also our future as engaged global citizens. This course is designed for learners who aspire to make sense of complex economic dynamics and their implications on social outcomes, individual livelihoods, and our planet. ### Overview The course's premise centers around the idea that a deeper comprehension of economics will empower you as an advocate, voter, investor, consumer, and citizen. It encourages critical thinking about the valuation of people and resources, the global movement of goods, and sustainable management of our shared environment. This holistic approach aims not just to educate, but to inspire action and awareness regarding economic inequalities and their root causes. ### Syllabus Insight **Week 1: Why a Worldly Philosophy?** In the initial week, learners dive into the historical evolution of modern capitalism. This segment lays the groundwork for understanding various economic philosophies and their influence on perceptions of wealth and poverty. Through a series of engaging lessons, participants are challenged to analyze their worldviews and consider alternative perspectives. **Week 2: Common Good, Private Purposes** The second week navigates the intricate relationship between individual decisions and societal outcomes within capitalist structures. Participants explore both the positive and negative aspects of competitive markets, developing a nuanced understanding of how profit motives can both drive progress and destabilize communities. **Week 3: Power at Work** Focusing on labor dynamics, this week discusses workers' bargaining power and significant historical events influencing their rights and security. By examining the roles of government, unions, and market structures, students gain insight into the systemic forces that shape workers’ experiences and protections in the economy. **Week 4: The Promise and Disappointments of Globalization** Week four critically analyzes globalization—its origins, benefits, and drawbacks. This module is particularly timely, as globalization continues to reshape local and international economies. Participants will dissect global value chains, assessing both the winners and losers of this interconnected system, empowering them to contemplate more equitable economic practices. **Week 5: Building a Thriving Society, Planet, and Individuals** The final week serves as a reflective conclusion, synthesizing course themes while prompting students to consider their own roles in creating a sustainable economy that benefits people and the planet. It encourages proactive thinking about the changes necessary to foster a thriving global society. ### Recommendations This course is highly recommended for individuals seeking to broaden their economic knowledge and engage critically with pressing issues of inequality and sustainability. Whether you are a student, professional, or merely a curious learner, the insights provided will enhance your understanding of global economic structures and their social implications. Notably, the course's blend of theoretical discussion and practical implications makes it suitable for learners from diverse backgrounds. The modules encourage not just passive learning but active engagement with content, making it suitable for those looking to effect change in their communities or industries. ### Conclusion "Economics: Society, Markets, and [In]equality" on Coursera is a valuable educational tool for anyone eager to comprehend and critique the economic systems influencing our lives. By unveiling the power dynamics at play and fostering critical thinking, this course prepares participants to be informed advocates for equity, sustainability, and shared prosperity in an increasingly complex world. Don’t miss the opportunity to enroll and gain valuable insights that could transform your view of the economy and your role in it!

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!

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!

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!

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!

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!