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2013/2014  KAN-CMF_NEOS  The New Economics of Sustainability

English Title
The New Economics of Sustainability

Course information
Language English
Exam ECTS 7.5 ECTS
Type Elective
Level Full Degree Master
Duration One Semester
Course period Autumn
Changes in schedule may occur.
Friday 08.00-10.35, week 36-41, 43-46
Friday 08.00-09.40, week 47
Time Table Please see course schedule at e-Campus
Min. participants 0
Max. participants 60
Study board
Study Board for BSc/MSc in Business Administration and Philosophy, MSc
Course coordinator
  • Ole Bjerg - MPP
NEF experts teaching in the course include: Tony Greenham, Andrew Simms, Dr Faiza Shaheen, Natalie Nicholls, James Meadway.
Main academic disciplines
  • Philosophy and philosophy of science
  • Business Ethics, value based management and CSR
  • Globalization, International Business, markets and studies
  • Innovation and entrepreneurship
  • Economics, macro economics and managerial economics
Last updated on 09-04-2013
Learning objectives
After completing the course student should:
  • be familiar with the fundamental concepts of ecological economics
  • be able to apply these concepts in analyses of economic and societal problems related to sustainability
  • be able to reflect on the differences between conventional economics and ecological economics
  • be able to use these concepts of ecological economics to imagine future scenarios and pathways towards the transition to low carbon, high well-being, and resilient economies.
Examination
The New Economics of Sustainability:
Examination form Home assignment - written product
Individual or group exam Individual
Size of written product Max. 15 pages
Assignment type Written assignment
Duration Written product to be submitted on specified date and time.
Grading scale 7-step scale
Examiner(s) Internal examiner and second internal examiner
Exam period December/January
Make-up exam/re-exam
Same examination form as the ordinary exam
Course content and structure

The emergence of an alternative economy that is realigned with its ecological and social context and shifts the primary goal from economic growth to sustaining and enhancing ecological and social health and wellbeing, has deep roots that go as far back as Ruskin (1860) and Schumacher (1973). More recently it can be seen in the work of the New Economics Foundation and a whole body of theorists and practitioners.

This course develops the theoretical principles of a new approach to economics to accelerate the transition to low carbon, high well-being, resilient economies. Students explore how contemporary economic, social, ecological and spiritual crises are systemically and dynamically linked to the driving forces in the global economy. The dominance of industrial growth economy are powerfully critiqued from alternative schools of economic thought – drawn from ecological, environmental, institutional, Buddhist and eco-socialist perspectives to derive pluralistic principles for a new approach to economics. Students co-create future scenarios and pathways towards the transition to low carbon, high well-being, and resilient economies. Topics covered in the course includes:

  • How is economics used in decision making?
  • How do we value nature using economics?
  • Social CBA, SROI and discounting
  • Beyond GDP: Valuing what matters and measuring natural resources Markets, market failure and regulation Finance and money Property rights and ownership models
  • Behavioural economics
  • Co-production of public services
  • How to restore natural capital
Teaching methods
The course consist in a combination of different forms of teaching: Traditional lecturing, case based teaching and student exercises.
Further Information
This is one out of two courses offered by the Sustainability and Post-Growth Economy cluster under the CBS Sustainability platform. In the cluster, we have a budget to cover the costs of transport and accomodation in connection with foreign lecturers.
Expected literature
Boyle, David & Simms, Andrew: The New Economics: A Bigger Picture. London: Routledge 2009
Daly, Herman E.: Beyond Growth - The Economics of Sustainable Development. Boston: Beacon Press 1996
Wilson, Richard & Pickett, Kate: The Spirit Level: Why Equality is Better for Everyone. London: Penguin 201
Neizert, Eva, Ryan-Collins, Josh, Simms, Andrew & Spratt, Stephen: The Great Transistion - A Tale of How it Turned out Right. London: New Economics Foundation 2009
Meadows, Donella H.: Thinking in Systems: A primer. Vermont: Chelsea Green Publishing 2008
Jackson, Tim: Prosperity without Growth - Economics for a Finite Planet. London: Routledge 2011
Last updated on 09-04-2013