Introduction to
Ecological Economics

Macroeconomics

Course Learning Outcome:

Formulate a whole system approach to the human subsystem structure and function.

Module Outcome:

Critique conventional theories of macroeconomics from empirical validity of underlying assumptions to desirability of theoretical outcomes.

Activities:

1. Complete the assigned sub-modules:
   
   1. GNP and Welfare
   2. Money
   3. Distribution
   4. ISLM (Monetary and fiscal policy)
   
   
   
   
2. Complete the assigned project work:
   
   1. Reading on Evaluating the objectives
   2. Create a list of knowledge and skills necessary to address your problem
   3. Create a list of key stakeholders
   4. Create a list of key disciplines
   5. Rewrite your problem statement and add goals and objectives.
   6. Reading on Bringing it all together.
   
   
   
   
3. Complete the assigned integrative project work:
   
   
   
   1. Identify 3 issues related to your project that affect GNP and 3 issues related to your projects that affect human welfare but have no impact on GNP. Do the activities that affect GNP do so appropriately (i.e. does an increase in GNP correspond to an increase in human welfare)? How does society’s goal of continually increasing GNP affect the decision making process about issues relevant to your project?  Now describe how one of the alternative mechanisms we’ve studied would address the shortcomings of these activities, or suggest an alternative accounting system that would do so. (One page paper)
   
   
   2. Integrative project work: How could monetary and fiscal policy be used to solve your problem?
      OR
      Accepting the goals of EE, How would you use monetary and fiscal policy to solve the current financial crisis?
      OR
      How would you use monetary and fiscal policy to achieve the goals of EE? (One page paper).
   
   
   
   

Self Check:

At the end of this section you should be able to answer the following questions:

• What is GNP, and what are its strengths and weaknesses as a measure of welfare?
• What is money? What are its uses and how is it created?
• How are wealth and resources distributed in our economy, and why does it matter?
• How do monetary and fiscal policy work, and how can we use them to achieve the goals of ecological economics?