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2014/2015  KAN-CFILU3004U  Money, Finance and Sustainable Economy

English Title
Money, Finance and Sustainable Economy

Course information
Language English
Course ECTS 7.5 ECTS
Type Mandatory
Level Full Degree Master
Duration One Semester
Course period Autumn
Timetable Course schedule will be posted at calendar.cbs.dk
Study board
Study Board for BSc/MSc in Business Administration and Philosophy, MSc
Course coordinator
  • Ole Bjerg - MPP
New Economics Foundation researchers teaching in the course include: Tony Greenham and James Meadway. Other international experts appear in the course through video conferencing.
Main academic disciplines
  • Philosophy and philosophy of science
  • Finance
  • Economics, macro economics and managerial economics
Last updated on 15-08-2014
Learning objectives
After completing the course students should:
  • know how money is made
  • be able to apply this knowledge in order to optimize the making of money in companies
  • be able to think and theorize about money in a crossdisciplinary fashion
  • be able to reflect about the differences between conflicting theories about the origins, history and functioning of money
  • be able to reflect critically about the nature and functioning of markets, banks and debt
  • understand the concept of financialization and its implications for doing business today
  • be familiar with alternative models of money, finance and banking
  • be able to apply different theories about money in the analysis of problems of sustainability and insustainability
Examination
Money, Finance and Sustainable Economy:
Exam ECTS 7,5
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 course has three parts. In the first part, students are introduced to different theories of the origin, history, nature and functioning of money. These include theories from economics, sociology, anthropology, and philosophy. These accounts are contrasted with conventional understandings of money in mainstream economics. It is also discussed how different theories of money imply different understandings of banks, markets, credit, debt and interest.

In the second part, students are introduced to economic as well as philosophical and sociological theories about financial markets. The increasing importance of financial markets in the global economy is discussed together with the implications for contemporary business practices.

In the third part, the relations between money, economic growth and sustainability are explored. Students are presented with different theories about the way that alternative forms of money, banking and finance may serve as vehichles for transistion into a more sustainable economy.

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
Bjerg, Ole: Making Money. London: Verso (forthcoming)
Graeber, David.Debt: The First 5,000 Years. New York: Melville House, 2011

Smithin, John: What is money? London: Routledge 2000

Jackson, Andrew & Dyson, Ben: Modernising Money. London: Positive Money 2013
MacKenzie, Donald: An Engine, Not a Camera- How Financial Models Shape Markets. Cambridge, MA: The MIT Press

LiPuma, Edward & Lee, Benjamin. Financial Derivatives and the Globalization of Risk. Durham: Duke University Press, 2004

Werner, Richard: New Paradigm in Macroeconomics. Solving the Riddle of Japanese Macroeconomic Performance. London: Palgrave Macmillan 2005

Ryan-Collins, Josh, Tony Greenham, Richard Werner, and Andrew Jackson. Where Does Money Come From? - A Guide to the UK Monetary and Banking System. London: New Economics Foundation, 2011

North, Peter: Local Money - How to make it happen in your community. Totnes: Green Books 2010
Robertson, James: Future Money - Breakdown or Breakthrough? Totnes: Green Books 2012.
Last updated on 15-08-2014