Admission requirements
Admission to this course is restricted to MA students in Philosophy 60 EC: specialisation Philosophical Perspectives on Politics and the Economy.
Description
This course explores the relation between ethics and economics, more specifically the role of ethical reasoning in economic theorizing and policy making. The course is divided into three parts.
We will begin, in the first part, by critically examining the division between positive and normative economics. The first part will also include a survey of key concepts and theories in economics from an ethical perspective identifying normative assumptions that underline standard economic reasoning.
Concepts and theories addressed in this part include welfare, market, efficiency, and rational choice theory. What is the relationship between preferences, utility, and welfare/well-being? What is the relationship between economic rationality and morality? What is a market? Are competitive markets morally-free zones? Are there moral limits on what may be bought and sold?
In the second part, we will explore the ethical foundations and comparisons of different economic systems with respect to arguments related to notions of efficiency, liberty, rights, and exploitation. Are the existing institutions and social structures of capitalism just? Are different kinds of institutions and social structures alternative to capitalism feasible and/or desirable?
In the third part of the course, important policy issues will be addressed using the combined powers of ethics and economics developed in the previous parts of the course. In this part, we will examine, among other issues, environmental degradation and global warming, the use of cost-benefit analysis in public policy, global inequalities, and economic crises.
Course objectives
This course aims to introduce students the role of ethical reasoning in economic theorizing, in economic policy making and in the organization of economic life.
Students who successfully complete the course will be able to:
understand the linkages between economics and moral philosophy;
identify and evaluate the normative assumptions that underline standard economic concepts and theories such as efficiency, market, and rational choice theory;
understand the role of ethical reasoning in economic policy-making;
compare different economic systems according to their normative foundations;
develop critical and argumentative skills through seminar discussion and analysis of philosophical texts;
practice, refine, and further develop oral argumentation and presentation skills based on (peer) review;
give, recive, and process critical and constructive feedback on oral presentations and written pieces according to applicable rules;
carry out research on both theoretical/conceptual and applied questions of economic ethics and provide research results in writing.
Timetable
The timetables are available through MyTimetable.
Mode of instruction
- Seminars.
Assessment method
Assessment
Reading memos and participation (10%);
Class presentation (10%);
Peer-review (10%);
Essay proposal (20%);
Final essay (50%).
Weighing
The final mark for the course is established by (i) determination of the weighted average of several exam components (reading memos and participation, class presentation and peer review, essay proposal, final essay) combined with (ii) attendance requirement— students absent for more than three classes will not be allowed to take the final essay and will not be allowed to pass the course.
Resit
The resit will consist of a written final paper (70%). The resit does not cover reading memos, participation, class presentation and peer-review.
Inspection and feedback
How and when an exam review will take place will be disclosed together with the publication of the exam results at the latest. If a student requests a review within 30 days after publication of the exam results, an exam review will have to be organized.
Reading list
The full reading list will be made available at the beginning of the course. This year's reading list will include (selections from) the following book:
- Hausman, Daniel, Michael McPherson, and Debra Satz. Economic Analysis, Moral philosophy, and Public Policy. Cambridge University Press, 2016.
Registration
Enrolment through MyStudyMap is mandatory.
General information about course and exam enrolment is available on the website.
Contact
For substantive questions, contact the lecturer listed in the right information bar.
For questions about enrolment, admission, etc, contact the Education Administration Office: Huizinga.
Remarks
Not applicable.