Economics: Society, Markets, and [In]equality

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!