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2016/2017  KAN-CPHIO3008U  Money, Finance and Philosophy

English Title
Money, Finance and Philosophy

Course information
Language English
Course ECTS 7.5 ECTS
Type Mandatory
Level Full Degree Master
Duration One Semester
Start time of the course 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
Main academic disciplines
  • Philosophy and ethics
  • Finance
  • Economics
Last updated on 15-08-2016
Learning objectives
To achieve the grade 12, students should meet the following learning objectives with no or only minor mistakes or errors: 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
Examination
Money, Finance and Philosophy:
Exam ECTS 7,5
Examination form Home assignment - written product
Individual or group exam Individual exam
Size of written product Max. 10 pages
Assignment type Written assignment
Duration Written product to be submitted on specified date and time.
Grading scale 7-step scale
Examiner(s) One internal examiner
Exam period Winter
Make-up exam/re-exam
Same examination form as the ordinary exam
Course content and structure

The course has two 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.

 
Teaching methods
The course consist in a combination of different forms of teaching: Traditional lecturing, case based teaching and student exercises.
Student workload
Lectures 33 hours
Exam 10 hours
Preparation 164 hours
Expected literature

 

Bjerg, Ole. 2014. Making Money - The Philosophy of Crisis Capitalism. London: Verso.

Dillard, Dudley. 1942. “Silvio Gesell’s Monetary Theory of Social Reform.” The American Economic Review 32 (2): 348–52.

Eisenstein, Charles. 2011. Sacred Economics: Money, Gift, & Society in the Age of Transition. Berkeley: Evolver Editions.

Friedman, Milton. 1989. “Quantity Theory of Money.” Money: The New Palgrave, 1.

Gesell, Silvio. 2013. The Natural Economic Order. Isha Books.

Graeber, David. 2011. Debt: The First 5,000 Years. New York: Melville House.

Ingham, Geoffrey. 2004. The Nature of Money. Cambridge: Polity.

Mandelbrot, Benoit, and Richard Hudson. 2004. The (Mis)Behaviour of Markets. New York: Basic Books.

Nakamoto, Satoshi. 2008. “Bitcoin: A Peer-to-Peer Electronic Cash System.” www.bitcoin.org.

North, Peter. 2010. Local Money: How to Make It Happen in Your Community. Totnes: Transition Books.

Werner, Richard. 2005. New Paradigm in Macroeconomics: Solving the Riddle of Japanese Macroeconomic Performance. Basingstoke: Palgrave Macmillan.
Last updated on 15-08-2016